Archives September 2023

Tata Steel Ltd and global technology leader ABB India have signed a Memorandum of Understanding (MoU) and will work together to co-create innovative models and technologies to help reduce the carbon footprint of steel production. ABB will bring global experience in automation, electrification and digitalization for the mining and metals industries.

Tata Steel is among the top global steel companies with an annual crude steel capacity of 35 million tons per annum and is committed to major sustainability targets including achievement of carbon neutrality by 2045. In line with its aspirations, the steelmaker has a medium-term target to reduce carbon emissions to less than two tons of CO₂ per ton of crude steel in its Indian operations by 2025.

The two companies will focus on system-level assessments of Tata Steel’s manufacturing plants and production facilities for evaluation and co-development of short and long-term options for energy efficiency, decarbonization and circularity.

ABB and Tata Steel will explore energy optimization via hydrogen as an alternative fuel for upstream processes and energy reduction as well as substitution through fully integrated electrification and digital systems such as ABB Ability™ eMine and e-Mobility solutions and energy efficient motors.

“Steel companies know there are opportunities to improve their processes, and Tata Steel is one of the leaders in this movement towards energy efficiency and reduction of carbon footprint,” said Vipul Gautam, Group Vice President, Global Account Executive for Tata Group, ABB. “World Economic Forum figures anticipate the energy transition will require as much as three billion tons of metals over the medium term; six times more mineral inputs by 2040 to reach net-zero emissions globally by 2050. ABB is confident in working with our customers and partners to evolve how steelmaking is powered to help reach production and environmental targets.”

“Tata Steel and ABB have had a long-standing relationship through last decades. With this MoU, ABB will support Tata Steel to achieve their carbon neutrality goals through energy optimization. As a leading provider of high-quality steel, it is important to maintain an efficient production line to meet increasing demands. ABB has cutting-edge solutions and a leading technology portfolio that aligns well with Tata Steel’s goals to make plants and production lines become more sustainable and energy efficient, making way for greener steel processing,” said Sanjeev Sharma, Country Head and Managing Director, ABB India.

Tata Steel is committed to sustainable development and growth as an integral part of its business philosophy. To ensure sustainable growth, the company is working on deployment of key enablers for deep decarbonization, including the use of more scrap in steelmaking, use of alternate fuels such as natural gas and green hydrogen, use of renewable energy and deployment of carbon capture and stor-age/utilization technologies. Tata Steel expects to increase capacity to 40 million tons by 2030 hence this collaboration with technology partner ABB is a key enabler to achieve that growth in a sustainable manner.

The global steel industry contributes between 7 to 9 percent of global fossil fuel CO₂ emissions, according to various sources including the International Energy Agency (IEA).

Hyderabad, September 06, 2023…….Sri BioAesthetics, a Hyderabad-based Integrated AgribioTech Center set up recently at an investment of INR 30 crore developed three new microbial products for soil health and fertility management at our R&D facility, Hyderabad.

Disclosing this in a press note issued in the city today, Dr KRK Reddy, Managing Director of Sri BitoAesthetics Pvt. Ltd who is also the President of BIPA,a trade body of BioAgri Input Producers in India said the three futuristic products with a future full of promise are a microbial consortium was developed through the technology transfer from ICAR-CSSRI, Karnal to mitigate saline stress in Rice.

The three products were formally launched recently in the presence of Dr Janaki Ram, Vice Chancellor, YSR Horticulture University, a state University in Andhra Pradesh; Dr Sarada Jayalakshmi, Vice Chancellor, Acharya N. G. Ranga Agricultural University (ANGRAU) and Scientists from ICAR and Amity University in a function held in Vijayawada.

ICAR-CSSRI is a Central Soil Salinity Research Institute. It is a premier research institute dedicated to pursuing interdisciplinary research on salinity/alkalinity management and the use of poor-quality irrigation waters in different agroecological zones of the country.

The second product is Prof.Ajith Verma’s (JNU/Amity Univ) discovery, Serendipita Indica, a desert fungus that helps in drought mitigation and nutrient acquisition. Serendipita indica is a fungal species of the order Sebacinales. It is an endophytic root-colonising species, discovered from orchid plants in the Thar desert in Rajasthan, India by Prof. Ajit Verma and group, School of Life Sciences, Jawaharlal Nehru University, New Delhi.

The third product is the Indigenously developed Root Organ Culture of Mycorrhiza based on the technology adopted from UCLouvain, Ottignies-Louvain-la-Neuve, Belgium for better water and nutrient absorption through symbiotic association.

Bengaluru 6 September 2023- Anika Jha is a 13-year-old girl from Bengaluru who is passionate about learning and solving problems around her with technology and science. She is a Ted Ed speaker inspiring others to embrace their unique form of intelligence and a Youth Worker at an NGO (Distressed Children and Infants International, DCI) where she helps children and orphans in poverty or with disabilities get proper quality education.

Anika participated in the online Mars Design Engineering Competition, organized by the Mars Society (nonprofit organization that advocates for human Mars exploration and colonization, founded by Dr. Robert Zubrin in 1998, former members include Elon Musk and Buzz Aldrin).

She has dedicated an entire month to create a feasible and detailed plan for the first manned mission to Mars with her international teammates. With them, she has written a 25-page scientific report detailing the Science, Engineering, and Human Operations aspects. She met and interacted with NASA scientists, former mission controllers, astrobiologists, etc. to get feedback on her report and learn more about Mars. Her report won in 2 categories: Science and Overall, Winner.

As the Overall Winner, Anika and her team are especially invited to the annual international Mars Society Convention, taking place at Arizona State University (Arizona, USA) from October 5 to 8 this year. Additionally, her report will be published by the Mars Society as a book and ebook in the next few months.

Aside from her manned Mars mission project, Anika has developed a Machine Learning and Artificial Intelligence based web application called Quake It Off to address the problems caused by earthquakes. Her solution is chosen in the Technovation Girls (global tech education nonprofit based in USA that empowers girls to become leaders, creators, problem-solvers, and tech entrepreneurs) from 22000 other applications as a finalist. For this, she is personally invited for 5 days to present her solution in front of world leaders and industry experts at San Francisco’s Silicon Valley in a World Summit.

Anika won first place in the TISBHacks hackathon organized by TISB (The International School Bangalore), and was in the top 3 winners of the OakCodeFest 24-hour hackathon organized by Oakridge International School twice in a row. She is passionate about space science and has been recognized as a standout entry by NASA’s Astrophoto Challenge twice for her image processing. She has received expert feedback from NASA scientists for this.

6th September 2023 Soonicorn Ventures (SV), the Gurugram-based investment technology platform, has received regulatory approval from the Securities and Exchange Board of India (SEBI) to introduce an Angel Fund, operating as a Category-I Alternate Investment Fund (AIF). This significant development marks a major milestone for SV in its mission to support India’s burgeoning startup ecosystem.

The newly approved Angel Fund is sized at an impressive INR 250 Crores, with an additional INR 250 Crores available as a green-shoe option, bringing the total fund capacity to INR 500 Crores. This substantial allocation underscores SV’s commitment to nurturing and empowering early-stage startups in India.

SV adopts a sector-agnostic approach and will allocate investments ranging from INR 50 Lakhs to INR 4 Crores in startups at the Seed to Series A funding stages. The platform has been investing in promising sectors such as Drone Technology, B2B SaaS, Electric Vehicles (EV), Financial Technology (FinTech), Supply Chain Logistics and others.

“We had set an ambitious target to build a portfolio of 30 startups this year, and we are proud to announce that we achieved this milestone in less than 8 months despite a funding winter. This accomplishment is a testament to the confidence our investor community has placed in our rigorous deal curation process. With the introduction of this Angel Fund, we aim to provide more flexibility to investors and facilitate single cap-table entries for startups. Additionally, we will assist syndicates in utilizing fund-as-a-service,” stated CA Vijay Singh Rathore, CEO, and Co-Founder of Soonicorn Ventures.

“From the outset, our vision has been to create a vibrant community that welcomes High Net Worth Individuals (HNIs), Venture Capital Funds, Family Offices, and Angel Networks. We are delighted to host a community of over 2000 investors, and this number continues to grow organically. For investors, the SV platform is free to join, with no annual membership fees, making it easy for them to explore investment opportunities and diversify their portfolios,” added Vijay.

Beyond funding, SV provides extensive mentorship and global networking opportunities to its portfolio startups. The platform’s angel investors collaborate closely with founders, offering expertise in technology, marketing, and other critical areas of business development.

CA Pravesh Kumar Goel, Co-Founder of SV, emphasized the platform’s dedication to regulatory compliance, stating, “The trust placed in us by both investors and founders has inspired us to invest more time and energy in developing a robust regulatory framework. This Angel Fund is a significant step in that direction. We are committed to ensuring that all our angel investors remain compliant and can grow their wealth without any concerns.”

Soonicorn Ventures’ portfolio boasts startups such as Zypp, Zingbus, Samosa Party, SupplyNote, AutoNxt, Skylark, Cusmat, Savart, and many more. SV remains committed to presenting high-potential investment opportunities to angel investors and serving as a valuable deal-sourcing funnel for institutional investors.

India, 6th September 2023: BODD Active, a leading name in the fitness and activewear industry, is thrilled to announce its latest collaboration with renowned fashion stylist and influencer Tanya Ghavri.

Tanya Ghavri is a highly acclaimed fashion stylist and entrepreneur known for her impeccable taste and trendsetting fashion sensibilities. With a career spanning several years, Tanya has established herself as a prominent figure in the fashion industry, collaborating with top celebrities and designers to create iconic looks that have graced red carpets, magazine covers, and runways worldwide. Her unique ability to blend contemporary style with cultural influences has earned her a dedicated following and made her a sought-after name in the world of fashion. Tanya Ghavri’s contributions to the industry continue to inspire and set the standard for modern fashion.

This exciting partnership brings forth a high-end activewear collection that combines fashion-forward designs with the functionality and performance expected by active individuals. The Bodd Active x Tanya Ghavri collection is set to redefine the way fitness enthusiasts and fashion-conscious individuals approach their workouts. Combining Tanya Ghavri’s impeccable fashion sense with Bodd Active’s dedication to quality and performance, this collection is a must-have for those who seek style, comfort, and functionality in their activewear.

Key highlights of the collection include:

-Fashion-Forward Designs: Tanya Ghavri’s keen eye for fashion trends has been infused into every piece of this collection. From chic patterns to bold colors, each item is designed to make a statement, both in and out of the gym.

–Premium Materials: BODD Active has spared no expense in sourcing the highest-quality materials to ensure durability, breathability, and comfort during workouts. Whether you’re into yoga, HIIT, or just need comfortable athleisure, this collection has you covered.

–Versatility: The Bodd Active x Tanya Ghavri collection is versatile enough to take you from the gym to brunch with friends seamlessly. Pieces are designed for a modern, active lifestyle, where style and performance coexist effortlessly.

-Inclusivity: The collection is available in a range of sizes to cater to different body types and shapes. BODD Active is committed to promoting inclusivity within the fitness community.

Tanya Ghavri, speaking about the collaboration, said, “I am beyond excited to partner with BODD Active to create this collection. Activewear should be an extension of one’s personal style, and I believe this collection allows individuals to express themselves while staying active and healthy.”

The Bodd Active x Tanya Ghavri collection is available for purchase at www.boddactive.com.

Bangalore, 06 September 2023: Campus Activewear, one of India’s largest sports and athleisure footwear brands, announces the launch of new technology- “Air Turbo” as part of the Campus Nitroboost range. With this, Campus becomes the pioneer in bringing this footwear tech through specially designed ranges suited for Indian consumers. Campus Air Turbo is a revolutionary product tech designed to keep your feet cool, fresh, and comfortable throughout the day.

The Campus Air Turbo features an innovative air circulation system built right into the sole. Situated in the heel area, the Compressible Pumping Chamber (CPC) ventilation system, serves as the beating heart of this groundbreaking technology. Each step effortlessly activates the CPC system, creating a continuous pumping action that propels fresh air throughout your shoes. At the rear of the shoe lies the Inlet/Outlet Port (I/O Port), the gateway for air circulation. This dynamic port grants you control over the airflow as per your requirement.

Completing the entire mechanism is the Air Passageway connecting the pumping chamber, the inlet/outlet port, and the inner part of the sole to facilitate the flow of air.

Speaking about the new launch, Prerna Aggarwal, CMO of Campus Activewear Ltd said “Young consumers are always on the move, leading an active lifestyle that requires comfortable footwear. With the moist and humid weather conditions that we experience in India, they may have had challenging situations with shoes that retain moisture and cause pain or produce odour. To solve the issue, we introduced this technology that support their daily active lifestyle and help them achieve their fashion goals. We are excited to bring Campus ‘Air Turbo’ for the Indian consumers and are sure that its thermal management technology will elevate the footwear experience.”

Designed to keep the consumer’s feet fresh and redefine your shoe-wearing experience despite extended periods of wear and usage, Campus Air Turbo offers numerous benefits. The cutting-edge technology enhances comfort by helping in dissipating air and moisture. Whether you’re engaged in intense activities or simply going about your day, Air Turbo is your ally in temperature regulation and ensuring your feet never feel excessively warm. Moreover, the constant airflow contributes to improved hygiene. Starting at a price of Rs. 2299, the Campus Air Turbo range comes in many colors to support the fashion goals of today’s youth

The new Campus Air Turbo is now available for purchase on the Campus Shoes website along with Campus outlets. For more information about the collection or to purchase a pair of shoes, visit Campus shoes’ website at campusshoes.com.

Mumbai: 6th September 2023: In a pioneering move set to redefine customer satisfaction, Reliance General Insurance, one of India’s leading private general insurance company, is thrilled to announce the tie-up of its Extended Warranty Product with OLA Electric. This strategic alliance aims to transform the total ownership of OLA customers and provide them peace of mind while fortifying the company’s position as an industry frontrunner.

This collaboration leverages the expertise of Reliance General Insurance and the reputable standing of OLA Electric, as a leader in the electric mobility category. The Extended Warranty Product addresses customer concerns around battery life and performance. The battery cover offers to protect the battery life beyond the 3 years of the manufacturer warranty till the fourth and fifth year and provides performance coverage for up to 60,000 km. The comprehensive cover offers, coverage for EV components like motor, controller, charger, and battery. With this joint commitment to excellence shared by both companies, customers can now enjoy an extended and worry-free ownership experience.

Excited about this collaboration, Mr. Anand Singhi, Chief Distribution Officer, at Reliance General Insurance said “With the combined strengths of Reliance General Insurance and OLA Electric, this collaboration is set to expand the depth of insurance penetration within the large audience base of two-wheeler EV enthusiasts. The product offers an umbrella protection to meet the diverse needs of OLA electric vehicle owners. This product not only acts as a safeguarding pillar for OLA’s customers but also provides them with expert assistance in a quick time.”

Mr. Ankush Agrawal, Chief Business Officer, at OLA Electric enthusiastically said – ““Our partnership with Reliance General Insurance is a testament to our commitment to delivering exceptional value to our customers. Our unwavering dedication to provide the best ownership experience nationwide remains steadfast. We firmly believe that this collaboration will act as a catalyst for prospective EV buyers, driving the rapid adoption of EV

6th September 2023, New Delhi: The global beauty industry continues to gain momentum every year – and more and more sales are made online. The Admitad partner network estimates that global sales of the beauty and self care industry grew by more than 15% in the first half of the year, while the number of online orders in India jumped by 13% YoY. GMV of local beauty orders also jumped by more than 20%.

To prepare this report, Admitad analyzed the sales of 450 brands worldwide and 155 brands in India, including such well-known companies and marketplaces as Sephora, Alibaba, Apollo 24X7, Forest Essentials, Plum Goodness, Beardo, BABOR, Loccitane, Clarins, Calvin Klein, Kiehl’s and many others. Calculations are based on more than 6.5 million orders worldwide and more than 1.3 million orders in India, that were generated by network partners for beauty brands and retail sites.

India is back on beauty track

The growth of online sales of beauty products in the world is strong but moderate. Admitad calculates that the number of global online sales grew by 11% in 2022, and in the first half of 2023 the growth has already hit the mark of 15%. GMV is up by 8% and by 12% respectively.

According to Neha Kulwal, Managing Director, APAC and India, Mitgo, “In 2022, Indian buying activity in the beauty industry hardly experienced any growth, but in the first half of 2023, it caught up with and even began to slightly outpace the pace of global customer activity. The number of beauty orders grew by 13% and the amount Indian shoppers are willing to spend on cosmetics and self care rose by 20%.”

The average order value of online sales of beauty products in India has increased by a few percent and is now around 15 USD. Local customers prefer to make smaller orders and actively take advantage of discount periods and bundles.

The top 10 countries by the size of the average order value of beauty orders currently look like this:

The source of beauty hunters

In 2023, the keywords in online shopping for beauty products are “benefit” and “smart shopping”. Therefore, Admitad calculates that coupon and cashback purchases rank high worldwide. However, the recommendations of influencers and content creators still faithfully generate orders for beauty brands – their share in the total number of orders is also significant:

Interestingly, on average, global orders for beauty products from Google contextual ads grew by more than 30% in 2023. Messengers, in particular Telegram, also became record-breakers in terms of sales growth in this segment – the number of orders through them more than doubled. Sales from Affiliate stores increased by 45%.

Admitad estimates that coupon platforms in India have had a greater impact on shoppers’ decisions than the global average, accounting for more than 22.5% of all orders. The positive attitude towards them in the country continues to grow – in 2023, the number of purchases in which Indian shoppers applied a coupon increased by 14%.

Content sites and cashback services, on the other hand, attracted a few percent less shoppers in the beauty industry. The share of purchases through contextual advertising and affiliate stores was at the global level.

A unique trend for India has been the explosion of beauty purchases through messenger Telegram. Their number more than quadrupled in 2023 and their share in total orders exceeded 10 percent. Brands should definitely take messenger seriously, including Telegram channels and buying ads there in their marketing strategy.

It is also important to note the rapid growth in the number of beauty purchases through contextual advertising on Google – this year it was this advertising network that accounted for more than half of all orders from advertising networks (including Yahoo, Facebook and other networks).

The mobile frenzy

The share of mobile sales in the global beauty industry in 2023 already stands at a staggering 46% and continues to grow (in 2022, the share of mobile sales was 44%).

Indian users are overtaking global trends again – in 2022, more than 60% of orders in the beauty industry were made from phones. And in 2023, this figure has already exceeded 70%. Every brand that doesn’t yet have a mobile-friendly website or mobile app should devote resources to developing one right now so that they don’t miss out on the majority of customers.

Forecasts are positive

Both global and Indian figures clearly indicate that the growth of online sales in the beauty industry will continue. According to Admitad experts, 2023 may end even more positively for Indian beauty brands than the successful 2022. It is highly likely that the increase in the number of their sales for the whole year will reach up to 20%.

Businesses should pay attention to the most effective traffic sources and those customer acquisition channels that show growth or have the highest average order value. This approach will help them not to miss trends and increase not only the number of orders, but also improve other important business indicators.

6th September 2023 Mumbai: The Collectives for Integrated Livelihoods Initiatives (CInI), an Associate organization of Tata Trusts, is among one of seventeen outstanding organizations delivering innovative climate solutions that have reached the finals of the prestigious 2023 Ashden Awards, supported by the UK Department for Energy Security and Net Zero.

240 organizations applied for the 2023 Ashden Awards, and CInI is one of just two finalists in the category of ‘Powering Agriculture-Tackling hunger and poverty in the Global South’ category, after a rigorous assessment and judging process involving on-the-ground visits and input from sector experts.

Collectives for Integrated Livelihoods Initiatives (CInI), Jamshedpur, established on May 17, 2007, is a nodal agency of Tata Trusts, anchoring the Central India Initiative. This initiative is the outcome of a quest to find a comprehensive response to issues of development in the central Indian tribal belt, through building knowledge and scaling up programs in the areas of agricultural productivity stabilization, forest-based livelihoods, water resource development, renewable energy, drinking water and sanitation, microfinance and strengthening community-based organizations.

In the past few years, CInI has successfully designed and implemented the audacious Lakhpati Kisan program, within which it has been able to integrate decentralized renewable energy-focused technologies through the Production Hub approach. This has enabled small and marginal farmers to move towards the ‘Lakhpati pathway’ in a systematic manner.

Speaking about the nomination, Mr Ganesh Neelam, Executive Director, CInI and Zonal Manager, Tata Trusts, said, “The Ashden Awards hold worldwide prestige, and CInI is honoured to be among the two finalists in the theme of Powering Livelihoods. CInI’s approach of integrating ‘Decentralized Renewable Energy’ within the agriculture-and-allied-livelihoods value chain through the Production Hub model is its most recent programme innovation and has been well received by nearly 20,000 small and marginal farmers across four states of Central India. This integration of focus areas enables us to centre on ensuring economic security as well as addressing climate-based challenges in the tribal hinterlands. We sincerely thank the jury for appreciating our efforts and hope to be able to continue to make sustainable and irreversible changes in the lives of the communities we serve”.

Ashden, a UK charity, has been spotlighting transformative climate solutions for more than 20 years through their prestigious Ashden Awards scheme.

Dr Stephen Hall, Head of Awards at Ashden, said: “Our finalists are boundary-pushing pioneers cutting emissions and restoring nature. Crucially, they show how green jobs and community projects can drive a just transition and more equal society.”

The finalists for all Awards will be judged by international specialists on each award category. The winners will be announced in London in-person/online on 14 November 2023. Winners will receive financial and strategic support.

New Delhi, 6th September 2023: The Singapore Tourism Board (STB) announced the appointment of Lim Kean Bon as Area Director, of India, South Asia, and Africa on September 1. He will succeed Raymond Lim as the India market lead based in New Delhi, leading STB’s promotion, and travel trade engagement activities in Northern and Eastern India to sustain and grow affinity for Singapore from leisure travelers. In addition, Kean Bon will be responsible for business development efforts to secure visitorship across India to Singapore in the Cruise and Meetings, Incentives, Conventions, and Exhibitions (MICE) segments. He will also lead his team in engaging consumers in other regional markets like Bangladesh and South Africa.

Speaking on this appointment for Singapore Tourism Board (STB), GB Srithar, Regional Director, India, Middle East, South Asia & Africa (IMESA), said, “We extend a hearty welcome to Kean Bon as he joins our dynamic team. I believe Kean Bon’s leadership in driving experience development for a leisure precinct and his past tenure in the Singapore Exhibition & Convention Bureau (SECB) places him in good stead to take on this role in STB New Delhi, particularly in this pivotal moment of anchoring Singapore as the premier lifestyle and business destination for Indian travellers.”

Kean Bon  started his career in the Singapore public service as an urban planner in Singapore’s city planning authority. He joined the STB infrastructure planning and management division in 2015 to drive the planning of MICE infrastructure and subsequently moved on to the SECB team in 2017, where he managed destination bids and account servicing activities for large-scale business meetings and conventions organized by global associations.

Prior to taking on the STB New Delhi leadership role, Kean Bon led STB’s Lifestyle Precinct Development team from 2020 to 2023, where he set direction for various projects to sustain the appeal of Orchard Road, Singapore’s leading lifestyle precinct. “I am excited to join the STB IMESA team and look forward to building on the good work and strong partnerships forged by my predecessor Raymond”, Kean Bon said. “Together with my team in New Delhi, we will continue our efforts to promote Singapore and inspire the Indian audience with the sheer breadth of vibrant experiences the city has to offer for leisure and business travellers.”