Archives November 2023

Bengaluru, 2nd November 2023: Addressing the Mahatma Gandhi National Fellows across nine IIMs on their convocation day celebrations, the Hon’ble Union Minister for Education and Skill Development & Entrepreneurship, Shri Dharmendra Pradhan, today announced that credits will be granted to the 581 fellows based on their two years of their learnings at IIMs including district immersion. Their certificates in Public Policy and Management will be officially recorded in their Academic Bank of Credit. This marks a pioneering step in the implementation of National Credit Framework as envisioned under the National Education Policy (NEP) 2020.

The Hon’ble Minister virtually addressed the convocation ceremony of our Mahatma Gandhi National Fellows Program, a collaborative initiative of the Ministry of Skill Development and Entrepreneurship and our nine prestigious Indian Institutes of Management (IIMs). This day marked a significant milestone in the lives these fellows who have completed this rigorous and transformative program.

The Hon’ble Minister extended his heartfelt appreciation to Ministry of Skill Development and Entrepreneurship and all nine IIMs for organizing the convocation on ‘National Unity Day.’ He congratulated all fellows in Public Policy and Management from the IIMs, after completing this two-year fellowship program. He said that the Mahatma Gandhi National Fellows are the modern-day Vishwakarmas, holding the potential to shape the 21st century. “I have high expectations and unwavering belief that my young friends will embrace skills as their mission to contribute to the realization of a developed India” – Shri Pradhan said.

“To achieve the ambitious goal of a developed India by 2047, it is imperative that we expand, skill, re-skill and up-skill our workforce. Our aim is to position India as a global hub for skilled manpower. I firmly believe that the young talents emerging from the MGNF program will become ambassadors of the Skill India Digital Portal”, Shri Pradhan added.

This is the first ever instance where 9 IIMs (including Ahmedabad, Bangalore, Lucknow, Jammu, Kozhikode, Nagpur, Ranchi, Udaipur, and Visakhapatnam) have supported in co-delivering a program for the Government of India that ensures common learning and participation across State/UTs governments with inputs from the Central government.

The unique design of the program has provided fellows with the right academic insights across thematic areas like Economics, Management, Public Policy, Research, Finance and learnings from these were applied for strategizing and implementing some of the unique programs at district levels during their district immersion. The Fellows are also given a monthly stipend both in the first and the second year by Govt of India. The Program is a testament to the power of education and skill development coming together in a synergistic manner. This is also an integration between the vocational /streams of education as envisaged under National Education Policy 2020.

The physical convocation ceremony of the fellows was conducted at the respective locations. Chairperson, NCVET, Dr. Nirmaljeet Singh Kalsi, Secretary, Department of Higher Education, Shri K Sanjay Murthy, Secretary, Ministry of Skill Development and Entrepreneurship, Shri Atul Kumar Tiwari, Senior Economic Advisor, Shri Nilambuj Sharan, Chairman, AICTE, Prof. T G Sitharam, Directors and Program Directors of respective IIMs along with the fellows from the joined in for the virtual address.

Launched in October 2021, phase 2 of the Mahatma Gandhi National Fellowship Programme deployed 657 fellows in districts across 33 states and UTs of India in collaboration with nine IIMs as academic partner. Conceptualized under the World Bank Funded Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP) Programme, the objective of Mahatma Gandhi National Fellowship is to identify and train a group of young, committed, and dynamic individuals who would work with the district administration in strengthening the process of skilling and help create a vibrant local district economy. Its unique design allowed the Fellows to assimilate academic learning at IIM and use it in the field under faculty mentorship to understand the challenges and identify barriers that the district ecosystem faces in raising employment, economic output to foster growth and development.

During their fellowship, the fellows made great progress in implementing innovative projects in the districts they were deployed in and also contributed towards events of national/international relevance such as Rozgar Melas and G20 Working Group meetings. To showcase their achievements, a report, on the achievements of the Fellows named ‘Stories of Change’ was also released during the virtual ceremony.

Further, the fellows actively implemented initiatives and programs aimed at offering training and upskilling opportunities for those who may have limited access to formal education. This outreach extended to marginalized communities, rural regions, and underprivileged individuals who encounter obstacles in embracing technology.

MUMBAI —2nd November 2023— Prime Video, India’s most loved entertainment destination, today unveiled a new marketing campaign that reinforces the brand’s position as the exclusive home for the most popular and talked about shows in the country today. Through a tongue-in-cheek film featuring Manoj Bajpayee, the campaign humorously underscores the incredible fandom that Prime Video’s shows and movies enjoy amongst Indian consumers. Spanning a diverse range of genres including romance, crime, suspense, comedy, horror, young adult and more, the film highlights a simple idea: All the shows and movies that everyone is talking about – you can watch exclusively on Prime Video.

The ad film opens with Manoj Bajpayee, also popularly known as Srikant Tiwari or The Family Man, asking for suggestions on what to watch. He is soon flooded with a barrage of recommendations. From his makeup artist endorsing Dahaad for its spine-tingling suspense to his gym trainer advocating for Made in Heaven, and even strangers suggesting popular Amazon Originals like The Boys, Farzi, and more, Manoj finds himself at the receiving end of must-watch recommendations, from everyone he encounters. An aha moment follows as he soon realizes what he already intuitively felt, that Prime Video is the home for content that everyone is watching and talking about!

Watch the ad film here: https://youtu.be/JqWIk8IlmKw

“In our close to seven-year journey in India so far, we have had the amazing opportunity to spearhead a storytelling renaissance, offering captivating stories in multiple languages that resonate with people across the nation. We have been able to not only build a compelling slate of entertainment for our delightfully diverse customers, but have also brought cult shows like Mirzapur, The Family Man, Panchayat and so many more alive. Immersive stories, the kind that stay on everyone’s minds and become talked about, are what have solidified our position as everyone’s preferred entertainment service. 2023 has been an equally busy year at Prime Video, from the much-loved Farzi, Jubilee, Dahaad to a quirky Cinema Marte Dum Tak and gritty Bambai Meri Jaan, each show has found its core audience, and enjoyed enormous fandom. Who hasn’t been recommended a Prime Video show in a water cooler conversation at work, or a dinner with friends?” said Sushant Sreeram, country director, Prime Video, India. “This campaign originates from a simple consumer observation – there are so many shows of ours that fans and customers passionately recommend to their friends, family and sometimes even strangers! We wanted to celebrate that fandom. We take the opportunity to ignite such fandom very seriously and I am confident our future lineup of shows and movies will continue to inspire and entertain our customers.”

Manoj Bajpayee, who plays himself in the ad campaign said, “Streaming today has become an integral part of cultural conversations and our daily lives! Srikant Tiwari, has almost become an alter-ego for me – from being mobbed in airports in the smallest of Indian towns, to recognition at global forums, The Family Man has been loved by and talked about everywhere! This campaign effectively encapsulates this phenomenon with remarkable simplicity and relatability. It humorously conveys the message that every title on Prime Video is someone’s favorite show or movie. The passion fans have for shows and movies on Prime Video is truly special – I have witnessed this myself! And yes, I have a personal favorite too, no prizes for guessing which show though!”

The film will be supported by a 360-degree campaign on TV, digital, social media and outdoors along with social innovations that bring the premise of the film alive. Conceptualized by creative agency MANJA and the Prime Video team, the films have been scripted and produced by Breathless Films with director Vinil Mathew at the helm.

“When you watch a great show or movie, you can’t help but recommend it. You want everyone else to jump on the bandwagon. You want to be the one who spreads it like wildfire. Because shows and movies aren’t just content anymore. They are topics of conversation and influence culture. And since Prime Video has the most talked about shows of the year, we used that truth as our starting point. The only question left to answer was, who are they talking to? We went with the one man who probably needs no recommendations at all, The Family Man,” said Suyash Barve, executive creative director, MANJA.

Campaign Credits:

Director – Vinil Mathew,

Production House – Breathless Films

Creative Agency – MANJA

BOSTON (2nd November 2023) – A generous grant will allow the national nonprofit Reach Out and Read to distribute tens of thousands of children’s books to medical clinics on tribal and native sites for an entire year. Nearly doubling past efforts, the Indian Health Service (IHS) has awarded Reach Out and Read $200,000 to purchase more than 31,000 high-quality, inclusive, diverse children’s books that represent and celebrate the lives of indigenous families. Books are distributed among 45 IHS clinics nationwide free of charge to families at well-child visits.

This ongoing partnership is key in addressing social injustice and health disparities for families in rural and Indigenous areas through Reach Out and Read’s work in the medical system. Reach Out and Read’s providers offer not only books but also guidance to parents/ caregivers about how shared reading with young children builds important family bonds.

“It’s always exciting to see a child’s face light up when they receive a book at their appointment and immediately engage to read with their families,” said Dr. Tina Pattara-Lau, Maternal Child Health Consultant, IHS. “Thanks to Reach Out and Read, we have books available for families at IHS sites across the country, including Arizona, Oklahoma, New Mexico, and South Dakota.”

The collaboration with IHS is part of a larger initiative that aligns with Reach Out and Read’s vision to help underserved families in hard-to-reach locations. The nonprofit serves 212 tribal sites nationwide, including the 45 IHS sites that will benefit from this grant. Reach Out and Read works with publishers who specialize in Indigenous writers and illustrators so that children at tribal clinics can see themselves reflected in books that feature Indigenous characters and are written in half a dozen different Native languages.

“Children and families new to our clinic are always thrilled to learn that we are a Reach Out and Read provider,” said Dr. Jane Oski of Sacred Peaks Health Center in Flagstaff, Arizona. “Since we provide books in dominant tribal languages, such as Navajo and Hopi, families pass the word to other tribal members in the greater Northern Arizona region. Not only are families visiting the clinic to get that free book, they are now also ensuring that their child is getting up-to-date medical care like immunizations.”

Access to early literacy resources is only one part of what makes Reach Out and Read’s model a proven success. Children who are read to more often have improved language and listening skills, experience stronger emotional connections to their loved ones, and gain a lifelong love of reading. Reading with children creates moments that feel safe and secure, builds a lifelong bond between caregiver and child, and leads to better physical and emotional well-being.

A State of American Indian and Alaska Native Children and Families Report outlines how adverse childhood experiences (ACEs) include aspects of a child’s environment that can undermine their sense of safety, stability, and bonding. The data indicated American Indian/Alaska Native children experience a disparate number of ACEs, which link to poor physical, mental, and behavioral health outcomes.

In a 2021 policy statement, the American Academy of Pediatrics emphasized research showing that safe, stable, and nurturing relationships can be a protective buffer against the biological harms of ACEs on children. The statement — which recommends a public health framework that includes support of positive parenting styles, developmentally appropriate play, and shared reading — recognizes Reach Out and Read specifically.

During routine well-child visits from birth to five years old, Reach Out and Read clinicians not only give age-appropriate, culturally responsive books to families, but they also discuss with parents how to use those books to engage with their infants and young children. This approach strengthens parent-child relationships and mitigates those adverse childhood experiences while also promoting healthy brain development and furthering language acquisition.

“Reach Out and Read’s model works best when it is integrated into systems that support the child and the entire family, like the Indian Health Service,” said Marty Martinez, CEO of Reach Out and Read. “What happens in the first few years creates the foundation of a child’s life. We’re excited to work with IHS and Indigenous families during those important first years, helping build strong relationships, supporting Native heritage, and increasing equity.”

Hyderabad, 2nd November 2023: In a monumental stride toward enhancing the lives of children grappling with Cortical/Cerebral Visual Impairment (CVI), the Institute for Vision Rehabilitation at the L V Prasad Eye Institute proudly announces the inauguration of its dedicated ‘Cortical/Cerebral Visual Impairment Resource Centre’ in Hyderabad. This pioneering centre, made possible through the generous support of Columbus Global Services India Pvt. Ltd., stands as a beacon of hope, aiming to alleviate the challenges faced by children and families affected by CVI.

CVI is a brain-based visual impairment wherein the eyes may function normally, but the brain’s ability to interpret and make sense of visual information is impaired. About 30–40% of children with visual impairments are affected by CVI, which is a leading cause of paediatric visual impairment worldwide. A staggering 60-70% of these children also struggle with additional disabilities, intensifying the complexity of their lives. The burden of CVI extends far beyond physical limitations, impacting a child’s learning, social interactions, and overall quality of life.

“Dr. Beula Christy, Head of the Institute for Vision Rehabilitation at LVPEI, underscores the significance of early intervention and tailored support for individuals with Cortical/Cerebral Visual Impairment (CVI). She highlights how the Cortical/Cerebral Visual Impairment Resource Centre, with its comprehensive and individualized approach, addresses the multifaceted challenges faced by these children.”

This groundbreaking facility offers various services, including clinical examinations, tailored vision assessments, and specialized interventions such as vision therapy, visual skills training, speech therapy, and counselling for children and their families. Additionally, the centre provides home environment modifications, engaging group activities, parental support groups, and independent living skills training, all aimed at enhancing the quality of life for these remarkable children.

Dr Prashant Garg, Executive Chair of LVPEI, emphasized the profound impact of this initiative, stating, “Our mission is to empower the children with CVI to navigate the world with confidence and independence. We are enthusiastic about the positive change this initiative will bring to their lives, and we extend our heartfelt thanks to Columbus Global Services Pvt. Ltd. for their generous support.”

“We are proud to support the Cortical/Cerebral Visual Impairment Resource Centre at the L V Prasad Eye Institute. We believe in the power of innovation and compassion to transform the lives of children and families affected by CVI. Together, we can create a brighter, more inclusive future,” said Mr Kapil Mishra, Managing Director, Columbus Global Services India Pvt. Ltd.

The Cortical/Cerebral Visual Impairment Resource Centre is more than a facility; it is a place of hope, compassion, and innovation. Through the unwavering support of Columbus Global, this initiative is poised to make a substantial difference in the lives of children and families affected with CVI.

India, 2nd November 2023: ServiceNow (NYSE: NOW) and Pearson today announced new research that AI and automation will require 16.2 million workers in India to reskill and upskill while also creating 4.7 million new tech jobs. The study conducted by Pearson and commissioned by ServiceNow uses machine learning to predict how technology will transform the tasks that make up each job* and presents an unprecedented chance for Indian workers to reshape and future-proof their careers.

Job postings in India that require ServiceNow platform technical skills grew 39% in the past year – the fastest growth seen anywhere in the world, according to labor market data from Lightcast – with Bangalore seeing the highest demand for talent of any city, globally.

India’s digital skill ecosystem is also poised to grow in tandem, with ServiceNow’s research revealing that additional Application Developers (75,000), Data Analysts (70,000), Platform Owners (65,000), Product Owners (65,000), and Implementation Engineers (55,000) will be needed by 2027, to meet the tech deficit.

As India’s “techade” accelerates, businesses are working full steam ahead to capture the economic value and inclusive development that AI will bring.

ServiceNow is connecting talent to technology through its global skilling initiative ‘RiseUp with ServiceNow’, enabling workers gain the skills they need to move into a role using the ServiceNow platform. There are thousands of local and global roles on offer across ServiceNow’s growing ecosystem.

Kamolika Gupta Peres, Vice President and Managing Director, ServiceNow Indian Sub-Continent, said, “India’s decision-makers and industry stalwarts understand the potential of AI. We’re working with every industry across the country to showcase best practice use of AI to drive meaningful business change and ensure these changes bring about meaningful, quality and secure careers for people while also enhancing productivity.”

The research by ServiceNow analyses the current status quo of India’s workforce, the impact of AI and automation across industries and the roadmap to how stakeholders can equip the workforce with the relevant digital skills to bridge the demand-supply gap.

“The pace of progress has never been swifter, with businesses driving large-scale transformation across diverse industry sectors that will play a decisive role in India’s rise towards a $1 trillion digital economy,” said Gupta Peres.

Liberating talent for in-demand roles
While AI and automation’s influence will reshape a substantial number of repetitive and technical jobs, many workers currently in non-technical roles possess abilities that can be applied to high-quality, more technical work profiles.

For example, the research found that India’s deep sea fishery workers possess 64% of the skills typically required of helpdesk support agents using the ServiceNow platform. Areas with high concentrations of fisheries, such as Kerala and West Bengal, can harness such opportunities and fulfill careers for their citizens.

ServiceNow’s study predicts that Manufacturing will witness the biggest disruption, with 23% of the workforce primed for automation and skill augmentation, followed by Agriculture, Forestry and Fishing (22%), Wholesale and Retail Trade (11.6%), Transportation and Storage (8%), and Construction (7.8%).

AI’s multiplier effect

The impact of AI and automation is expected to necessitate 4.6 million workers to augment their capacity between now and 2027. Even traditional technology roles such as Computer Programmers—which ServiceNow research shows will be impacted by the rise of generative AI capabilities like text to code—can reskill and evolve to become Flow Automation Engineers, Product Owners, Implementation Engineers, Master Architects in the ServiceNow ecosystem. India’s tech hubs, which have the largest concentration of computer programmers, Karnataka (331,200), Tamil Nadu (323,700), Telangana (171,300), can gain a significant competitive advantage.

The shifts illustrate the positive effects AI and automation can have on India’s growth, particularly in terms of multiplying productivity and creating high-value jobs.

“The macro environment dictates that business’ focus on delivering clear value in the digital economy – and this can be achieved at scale with right technology to help you to grow fast, while taking cost out. Building strong digital foundations will also help your people build skills today that will be needed in the future,” said Gupta Peres.

The digital transformation of India hinges on a future-ready workforce community. As part of the ‘Skill India Digital’ campaign’, the Government has announced its vision to create a better future for the youth. According to a recent Nasscom study, AI and automation have the potential to add up to $500 billion to India’s GDP by 2025.

Today there are more clear, direct paths for the workforce to build rewarding digital careers. ServiceNow offers more than 600 free training courses and 18-job related certification paths available to anyone in India who is interested in a digital career. There is national demand for ServiceNow platform skills and opportunities for individuals to gain on-the-job training with leading enterprises and partner organizations across the nation.

ServiceNow is investing in India’s skills growth with a series of State and National programs to deliver equitable paths to digital careers. The company has announced more than 13 academic partnerships with India-based organizations in the past year to help fill roles across ServiceNow’s growing India customer and partner ecosystem.

In August, ServiceNow also announced its partnership with FutureSkills Prime – a MeitY nasscom digital skilling initiative to build a future-ready workforce and address critical business needs.

Bangalore, 2nd November 2023Arvind SmartSpaces Limited (ASL), one of India’s leading real estate development companies announced its financial results for the quarter and half year ended Sep 30, 2023.

Performance summary of H1 FY24:

• Bookings grew by 64% YoY; Rs. 504 Cr vs. Rs. 307 Cr last year
• Collections improved by 90%; Rs. 467 Cr vs Rs. 245 Cr last year
• Revenue from Operations grew by 26% YoY; Rs. 140 Cr vs. Rs. 111 Cr last year
• Adj. EBITDA grew by 73% YoY; Rs. 36 Cr vs. Rs. 21 Cr last year
• PAT grew by 38% YoY; Rs. 17 Cr as against Rs. 12 Cr last year

Performance summary of Q2 FY24:

• Bookings grew by 95% YoY; Rs. 369 Cr vs. Rs. 189 Cr last year
• Collections increased by 133% YoY at Rs. 263 Cr vs Rs. 113 Cr last year
• Revenue from Operations grew by 44% YoY; Rs. 73 Cr vs. Rs. 50 Cr last year
• Adj. EBITDA grew by 177% YoY; Rs. 20 Cr vs. Rs. 7 Cr last year
• PAT grew by 79% YoY; Rs. 9 Cr as against Rs. 5 Cr last year

Net Debt (Interest funds) decreased to Rs. (141) Cr as of Sep 30, 2023, from Net debt of Rs. (87) Cr as of Jun 30, 2023, primarily due to strong internal accruals. Net Debt (Interest-bearing funds) to Equity ratio stood at (0.30) as of Sep 30, 2023 as against (0.18) as of Jun 30, 2023

Acquired a new high-rise project in Bengaluru with a top-line potential of ~Rs. 400 Cr. The project is spread across 4.3 acres and has a saleable area of 4.6 lakh sq. ft. The project is acquired on an outright basis under HDFC Platform 2.
Concluded first platform with HDFC Capital Advisors through HCARE- 1 fund. The platform delivered strong returns in the two and half years of its operations.

Commenting on the Q2 FY24 performance, Mr. Kamal Singal, Managing Director and CEO, Arvind SmartSpaces commented, “We are delighted to share that the Company has recorded the highest ever quarterly bookings and collections. For the first time, we have crossed the Rs. 300 Cr milestone quarterly bookings. Our half yearly performance, has also been best ever both in terms of bookings and collections. Our operations cycle remains strong with operating cash flows of Rs. 160 Cr during the quarter and Rs. 271 Cr during the half year.

We had a new launch Uplands 2.0 in Adroda, South Ahmedabad during the quarter, which received an outstanding response. The entire phase 1 inventory of more than Rs. 300 Cr was sold out within three days. It is heartening to see all our new launches over the last several quarters in several different micro markets have resonated strongly with homebuyers across cities.

During the quarter, we added a high-rise project with a topline potential of Rs. 400 Cr Banerghatta, Bengaluru. This will mark our geographical expansion into the key market of South Bengaluru. With this acquisition, the cumulative new business development topline potential stands at more than ~Rs. 2,800 Cr for the current year to date.

The structural demand theme for residential real estate as well as overall macroeconomic indicators remain healthy. We are well on track to conclude our ongoing business plan of Rs. 1000 Cr new investment. We remain focused on augmenting and diversifying our business development pipeline addressing both horizontal and vertical developments. We are progressing well to end the year on a strong note with a slew of launches in the pipeline.”

Jaipur, 2nd November 2023: As a step towards strengthening the brand’s retail footprint across the country, ASUS India, a Taiwanese tech giant today announced the launch of an exclusive store in Jaipur. The new exclusive store is spread across 300 sq. ft. and is set to host an extensive range of electronics and computer hardware, including the ASUS flagship products such as Vivobook, Zenbook, Republic of Gamers (ROG) laptops, Gaming Desktops, All-in-One Desktops, and accessories. This is the brand’s 7thexclusive store located in Jaipur taking the total count of 11AES & ROG stores in Rajasthan.

Talking about the expansion, Jignesh Bhavsar, National Sales Manager – PC & Gaming Business, ASUS India, said, “We are delighted to announce the expansion of our retail footprint in India. Rajasthan being an important market for us, the inauguration of the new brand store in the capital, Jaipur will play a pivotal step towards empowering consumers across different regions of the country with a unique experience of our latest innovation. With a strategic retail expansion approach, we will continue to create more interaction and new touchpoints for our users.”

New Delhi, Apurv Abhay Modi MD and Co-founder – ATechnos Group of companies, has been appointed as the Co-chair of the ICT, Electronics & Telecom Committee of the PHD Chamber of Commerce and Industry (PHDCCI) for the Presidential Year 2023-24.

On his appointment, Apurv Abhay Modi said, “India is on the way to becoming the world’s most highly growing digitally driven economy and in the same time becoming a co-chair of ICT, Electronics & Telecom Committee of Ph.D. Chamber of Commerce makes us proud as well as give us a chance to build footprints on the global map with a worldwide network of the Ph.D. chamber”

Apurv Modi is a successful young entrepreneur who has significantly impacted various industries, particularly in the mobility and mobile tech sector in India and the International market. He is doing exceptionally well in Media Broadcasting, Artificial Intelligence (AI), Machine Learning, Green Energy, and health tech. His passion for innovation in content, creativity in production, and development in Virtual Events, Games, Gamification, and Enterprise Gamification has propelled him to the forefront of the tech industry, where he strives to improve people’s lives worldwide.

With a strong vision for the future, Apurv’s group of companies focuses on creating affordable mobile internet products and services that allow the masses to access the latest technology. As the leader of the group’s businesses in consumer electronics, technology, and B2B channel engagement, Apurv has successfully built a diverse portfolio of ventures that exemplify his visionary approach.

Apurv started his entrepreneurial journey with Channel Distribution and content Distribution, laying the foundation for his ventures. However, recognizing the potential of tech-based services, he expanded his business interests and ventured into augmented reality and virtual reality game development. Additionally, he emphasizes the importance of mixed reality experiences.

He has successfully enabled business arms in Enterprise Services, E-commerce Services, and Brand Management Services, further diversifying his group’s offerings and reinforcing his commitment to staying at the forefront of innovation.

Apurv also receives exclusive “Director General’s Honour” from the Punjab Police, a Guest of Honour from Health-A-Thon, and an Appreciation award from Startup India. Additionally, Apurv’s entrepreneurial prowess was acknowledged at India’s First Mining Startup Summit.

Mumbai | 2nd November 2023: “Self-policing the influencer community would be the best for everyone,” Ananth Narayan, a whole-time member of the Securities and Exchange Board of India (SEBI) said while speaking at the Moneycontrol Creator Economy Summit at Mumbai on Tuesday.

“If you want your community to gain, tell us what is going wrong. It gives us a lot of comfort to know that there is a community that is taking care of its problems,” Narayan elaborated saying that the influence community is in the best position to show the bad apples in the industry.

Narayan said that influencers need to communicate and help the market regulator form better regulations. “Help us, come back with feedback. Refer to other jurisdictions and show us the way. Talk to us about how something can slip through the regulations and how we can prevent this,” he asked the influences at the Moneycontrol Creator Economy Summit.

Even the market regulator can make mistakes and is not perfect, according to Narayan. “Regulators could make errors. First, we let bad things happen. The second error is getting in the way of good things happening, like making regulations so difficult that good people can’t do business”, he added.

Narayan reiterated that the market regulator is not going to babysit investors and influencers and just wants influencers to provide quality education to investors. “Our job is not to create a nanny state. What I would love to see from content creators is high-quality education. If you were advising your brother or mother, what advice would you give them? You wouldn’t worry about who is paying you. The best content comes from the industry itself. Things like education and capital formation are too important, and should not be left to the regulator alone” Narayan added.

When asked whether increasing taxation for derivative trading would be better like taxing gambling ads to discourage excessive trading, Narayan conceded that there is logic in the suggestion, but said that it is out of syllabus and not in his domain to make a decision.

Hosted by Moneycontrol, India’s foremost financial news platform under the Network18 group, the Creator Economy Summit serves as the definitive platform for discussing vital issues in this sector, including challenges and the future landscape. The theme of this inaugural edition is ‘Creation, Innovation, Monetization,’ aimed at showcasing the optimism and resilience of Indian content creators.

New Delhi,2nd November 2023 Indian Tyre Industry major, JK Tyre & Industries Ltd. (JK Tyre) announced its unaudited results for Q2 of FY2024.

On a consolidated basis, net revenues were up 4% at Rs.3,905 crore and EBIDTA increased to Rs.597 crore as against Rs.305 crore on a y-o-y basis.

Commenting on the results, Dr. Raghupati Singhania, Chairman and Managing Director (CMD), said, “JK Tyre continues its robust performance in Q2FY24 driving revenues with multifold increase in profitability. The sustained thrust on larger market presence enabled boost volumes across segments and product categories. The strategic focus on enrichment of product mix across the entire Radial range, PCR/LTR/TBR has had positive outcome. Cost compression and the ongoing efforts to enhance internal efficiencies remain the bedrock of our operations”.

He further added, “Export sales recorded a healthy double-digit growth over the sequential quarter”.

JK Tyre’s subsidiaries Cavendish Industries Ltd. (CIL) and JK Tornel, Mexico continue to perform well, with significant contributions to the Company’s overall revenues and profitability. CIL has registered increased profit margins during the quarter.

We hope to continue with strong performance going forward as well owing to the robust economy in the country.

He further added that “It’s a matter of great pride for JK Tyre to secure ‘Best in Class’ ESG grading for second consecutive year, endorsing our commitment to sustainability and reinforces our vision to be a “Green and Trusted Mobility Partner”.

JK Tyre has been recently awarded the Mahatma Award-2023, an initiative of the Mahatma Foundation, UNDP & Aditya Birla Group for ESG & CSR excellence.