All posts by Rabindra

13 September, 2024, New Delhi: Ritesh Agarwal, founder & group CEO of travel-tech company OYO,recently joined forces with global influencer Nuseir Yassin’s (popularly known as NAS) creator platform and online learning portal BackToBackSWE for the 7-Day Startup Challenge, a program designedto guide early-stage startups through the foundational steps of building and refining a business idea, with Agarwal awarding a Rs 10 lakh equity-free grant to five winners.

The challenge attracted nearly 3,000 participants from around the world, including India, the US, Canada and the UAE. The event, which was hosted on NAS.io, revolved around seven distinct daily themes, each covering a crucial aspect of business development, ranging from goal setting and market research to product roadmap and branding.

The five winners included Bharat Anubhav, an Odisha-based company building a marketplace for certified tourist guides; Ekogalaxy, a climate education platform; Harmony Sourcing, which is helping global buyers connect with factories in India; Farmkrate, an agricultural solutions startup in Andhra Pradesh; and Aura, a mental wellbeing initiative out of Bengaluru.

“Over the years, several people have helped me in my entrepreneurial journey. I feel it is only fitting that I return the favour to the next generation of entrepreneurs by sharing my experience. NAS.io, with its large network of aspiring startups founders, and BackToBackSWE, which offers comprehensive mentorship programs, were ideal partners for such an initiative,” said Agarwal.

“This program will hopefully not only equip them with essential business skills but also foster a spirit of innovation and community. India is in the throes of a startup revolution, with young founders solving realworld problems. With the right support, startups can power the next wave of economic growth.”

Roshan Paul, co-founder at Aura, one of the winners, added: “The simple, step-by-step approach made it easy to refine our idea, and the support we received from the community members was invaluable. Competing with so many talented participants made this a rewarding experience.”

Agarwal is also mentoring startups through his stint at reality TV series Shark Tank India, where he made his debut during the third season earlier this year, becoming the youngest judge on the show. Last year, he announced an equity-free grant of Rs 5 lakh each to four startups from Ladakh in partnership with the Naropa Fellowship.

Kolkata, 13th September: More than 150 young entrepreneurs (and more importantly, many of them are women entrepreneurs) from across business and industry verticals, assembled in Kolkata recently to flag off Utthan, the inaugural event of what is aptly called the First Generation Entrepreneurs Club (FGEC), first such organisation in the country. Co-founded by four startup owners- Sandip Joardar, the Founder of Cha-Khor, a unique startup, Manas Protim Mondal, CEO of RIKI Traders International Pvt Ltd that offers expert guidance on global trade, Sourav Joarder, Co-Founder of Cha-Khor India Ventures Pvt Ltd, and a certified football coach and physical trainer, and Arijit Hajra, CEO of Think Again Lab, also known as the Robot Man of India, FGEC aims at empowering first-generation entrepreneurs by providing them with the tools, knowledge, and network necessary to succeed. This is something that was missing in the city’s entrepreneurship or startup ecosystem.

“We are passionate about empowering and supporting first-generation entrepreneurs on their journey to success. Our mission is to provide the essential resources, mentorship, and community needed to turn entrepreneurial dreams into reality. We understand the unique challenges faced by first time entrepreneurs and are dedicated to offering personalized guidance, comprehensive resources, and a vibrant network of like-minded individuals. With FGEC, you are never alone in your entrepreneurial journey,” said Sandip Joardar, Co-founder, FGEC.

“We promise to create a supportive environment where aspiring business owners can thrive, innovate, and achieve their goals. Through tailored mentorship, educational programs, and valuable resources, we strive to make entrepreneurial success accessible to everyone,” said Sourav Joardar, Co-founder.

Ganesh Chaturthi is a celebration filled with rituals, devotion, and, of course, delightful sweets that are loved by all. Among these, the humble yet delicious ladoos takes centre stage as a must-have offering to Lord Ganesha. This year, add a touch of luxury and tradition to your ladoo recipe with Modicare’s Kashmiri Kesar and Cow Ghee. The vibrant saffron and rich, ghee not only enhance the flavor but also bring a festive warmth to your kitchen. Let’s explore how these ingredients can transform your ladoos into a mouthwatering tribute to the beloved deity.

Soul Flavours Kashmiri Kesar

The essence of any festival lies in its flavors and aromas, and Ganesh Chaturthi is no exception. This year, take your sweets to the next level with the enchanting touch of saffron. Modicare’s Soul Flavours finest grade hand-picked Kashmiri Kesar, with its deep red hue and rich fragrance, will make your ladoos more vibrant and infused with love! The best part? It’s entirely free of preservatives and artificial colors, ensuring your festive treats are as pure as your devotion.

Soul Flavours Cow Ghee

Modicare’s Soul Flavours Cow Ghee is made from cow milk that brings a rich aroma and granular texture adding a delectable flavour to your home-cooked special ladoos. It contains Omega 3 & 6 and fat soluble vitamins A, E and K, which are critical in maintaining good health and well-being. Cow ghee is a must-add for cooking, garnishing, and making the most yummilicious ladoos you would have ever tasted!

Neemrana, Rajasthan, – KAI India, a leading name in the beauty and personal care industry, proudly announces a significant expansion of its manufacturing capabilities at the Neemrana plant. This strategic move will increase the production capacity of women’s razors by over 5 million razors per year, marking a new era of growth and innovation for the company.

The group is planning an additional investment of 300 Million yen, reflecting KAI group’s commitment to bolstering its manufacturing infrastructure. The expected timeline for the completion of this expansion is 5 months, ensuring that the enhanced production capacity will be operational by the end of December 2024.

This expansion aligns with KAI India’s unwavering commitment to the “Make in India” initiative, strengthening local manufacturing and contributing to the country’s economic growth. It will meet the increasing demand from both local and international markets and create many new jobs in the region, significantly strengthen the local economy.

Mr. Rajesh U. Pandya, Managing Director of KAI India, commented on the expansion: “This is an important step for KAI India. Our enhanced manufacturing capacity is a testament to our commitment providing high-quality products to our valued customers. We are deeply grateful to our local and international customers for their trust and support. This expansion also reflects our dedication to the ‘Make in India’ initiative, showcasing our resolve to manufacture, sell, and skill in India.”

“To ensure the seamless integration of advanced technology and superior manufacturing practices, eight technical engineers from KAI Industries in Japan have been stationed at the Neemrana plant. Their expertise and guidance are crucial in maintaining the high standards of precision and quality that KAI products are known for globally,” added Mr. Pandya.

In alignment with KAI India’s long-term strategic goals, this expansion is a step towards achieving sustained growth and establishing a strong foothold in both domestic and international markets.

KAI India’s vision is multi-faceted: “Make in India”, “Sell in India & Overseas”, and “Skill in India” and “Women Empowerment”. This vision is at the core of the company’s operations and future strategies. By expanding the Neemrana facility, KAI India is reinforcing its commitment to producing superior products within the country, enhancing the skill set of the local workforce, and establishing a strong presence in both domestic and international markets.

Market demand and growth trends for these products indicate a robust increase, driven by rising consumer awareness and the growing emphasis on personal grooming. The expanded production capacity will enable KAI India to meet this surging demand efficiently and maintain its competitive edge in the market.

KAI India offers a diverse range of products, including kitchen equipment starting from Rs 150 for knives, personal care items such as nail clippers starting from Rs 120, and shavers starting from Rs 20. The company’s three-pronged distribution strategy covers general trade, modern trade, and e-commerce, supported by an extensive network of over 50,000 touchpoints.

KAI boasts an extensive product portfolio of over 10,000 items spanning cooking, grooming, and beauty care categories. This diverse range highlights KAI’s expertise and dedication to meeting the varied needs of consumers across these sectors. Their product lineup includes a wide range of beauty and grooming solutions meticulously crafted with Japanese technology, ensuring each product meets the highest standards of quality and performance.

Japan-based KAI Group, established over 115 years ago, entered the Indian market in 2016 and has successfully established its state-of-the-art manufacturing facility in Neemrana, Rajasthan. Spanning over 30,000 square meters, this facility is a hub of innovation and excellence dedicated to producing high-precision beauty and personal care products.

Driven by a mission to become a household name in India, KAI India is poised to enhance the daily lives of its consumers through products that offer unmatched precision and value. The expansion of the Neemrana plant is a significant milestone in KAI India’s journey towards achieving this goal, reflecting the company’s dedication to continuous improvement and its relentless pursuit of innovation.

By – Mr. Arsh Mogre, Economist – Institutional Equities, PL Capital – Prabhudas Lilladher basis the IIP CPI announcement.

India’s Consumer Price Index (CPI) rose marginally to 3.65% YoY in August 2024, up from 3.6% in July 2024, a slight acceleration but staying comfortably below the Reserve Bank of India’s (RBI) medium-term target of 4.0% for the second consecutive month. The August figure surprised to the upside compared to market expectations of 3.42%, driven primarily by persistent food price pressures. The combined Consumer Food Price Index (CFPI) rose to 5.7% from 5.4% in August. On a rural-urban split, rural inflation continued to outpace urban inflation, with the rural CPI at 4.2% YoY (up from 4.1%), driven by food prices, which rose to 5.6%. Urban inflation, meanwhile, rose marginally to 3.1% from 3.0% in July. Looking forward, while the headline CPI remains under control, the higher-than-expected print and persistent food inflation suggest that the RBI’s inflation management strategy could face challenges if food price volatility persists. However, with energy costs declining and core inflation not showing major increases, there is room for cautious optimism. Given these factors and the evolving growth-inflation scenario, it is projected that the RBI will not begin its rate easing cycle before Q3 FY25, despite an increased likelihood of a Fed rate cut in September 2024.

Key Insights – CPI:

Inflationary Pressures Ease, but Risks Remain: India’s retail inflation in August 2024 increased to 3.65%, from 3.54% in July, marking the second lowest inflation in five years. While inflation remains comfortably within the RBI’s tolerance band of 2-6%, it still falls short of the central bank’s “durable 4%” target. This suggests that while inflationary pressures have softened from the highs seen last year, risks remain elevated in the near term.

Base Effect Fades, Inflation Expected to Rebound: While inflation has softened significantly over the past year, the favorable statistical base effect that has helped moderate headline inflation is gradually wearing off. As a result, inflation is expected to climb back in the coming months, but it is likely to be restrained within a range of 4.5-5.0% in H2 FY25.

Food Inflation Pressures: Food inflation, which constitutes around 50% of the CPI basket, accelerated to 5.66% in August from 5.42% in July. Vegetables recorded a sharp rise, with inflation surging to 10.71% from 6.83% in the previous month. On the flip side, tomato prices saw a steep deflation of -47.91% YoY, but this is largely seen as a seasonal anomaly that may not provide long-term relief.

Monsoon Provides Relief: However, strong monsoon conditions provide optimism for food price moderation. India received 50.9 millimetres of rainfall (14.1% above the LPA) in the week ending 11 September 2024, with a cumulative seasonal rainfall of 8.3% above the LPA by 11 September. While some subdivisions experienced deficient rainfall, the emergence of La Niña conditions in late August bodes well for both the southwest and upcoming northwest monsoon seasons, supporting strong kharif and rabi sowing. This should help temper food inflation in the near future.

The somewhat restrained increase in Kharif MSPs will contribute a net deflationary impact of 10 basis points over the coming months. Additionally, the reduction in custom duties on gold from the FY25 Union Budget will provide a further 5-10 bps deflationary impact. However, given rising international gold prices and the depreciating rupee, the net impact is expected to be minimal.

Rural Inflation Outpaces Urban: Rural inflation rose to 4.16% in August, outpacing urban inflation, which moderated to 3.14%. The divergence is largely driven by food price inflation in rural areas, which remains more susceptible to agricultural supply shocks. The monsoon’s mixed impact could cause further fluctuations in rural food prices, though the overall strong rainfall should provide some relief in the medium term.

Core Inflation Steady, but Global Uncertainties Could Push It Up: Core inflation rose marginally to 3.65% in August-24 from 3.60% in July-24, reflecting a stable demand environment in discretionary sectors. With steady domestic demand and the diminishing base effect, it is expected to gradually rise to 4.0% in the coming months. While global commodity prices (crude oil, metals) have softened recently, uncertainties in the Middle East could drive renewed cost escalations, particularly in industrial inputs and energy, putting upward pressure on core inflation.

Inflationary Trajectory: A Balancing Act: It is reasonable to conclude that as the impact of favourable statistical base effect wears off, headline inflation would start climbing back again. While that’s quite likely, we believe the pull back in inflation will be restrained, with headline inflation remaining in the range of 4.5-5.0% in H2 FY25. Ongoing disruptions to maritime trade routes in the Middle East are expected to push up transportation and fuel costs, which could impact core inflation with a lagged effect. Additionally, pre-election fuel price cuts may provide further relief, supporting a glide towards lower inflation in H2 FY25.

This Onam, Jamming Goat is offering a traditional Onam Sadhya feast at both their JP Nagar and Indiranagar outlets.  The festive spread brings the vibrant flavors of Kerala to the heart of Bangalore.

The Sadhya features a selection of classic vegetarian dishes, including the nutty Kerala Matta Rice, the creamy Parippu Curry, and the tangy Sambar. Guests can also savor flavorful highlights like Kalan, a yogurt-based curry with yam and raw banana, and the sweet-tangy Pineapple Pachadi. The meal concludes with the indulgent Paalada Payasam, a rich, creamy dessert made with rice flakes.

For those seeking non-vegetarian options, Jamming Goat offers add-ons such as the Kerala Chicken Roast and the Alapuzha Meen Fry .

Celebrate this Onam at Jamming Goat with your loved ones.

When: 15th September
Time: 12:30 PM onwards
Where: Jamming Goat 3.0 JP Nagar and Indiranagar outlets

London, UK | Bengaluru, India, 13 September 2024: UST, a leading digital transformation solutions company, has unveiled its ‘UST Retail GenAI platform’ at the London Innovation Lab. Steve Rempel, SVP & International CIO at Walgreens Boots Alliance, inaugurated this pioneering platform to transform retail operations through the power of Generative AI. Steve shared valuable insights on critical success factors to enable GenAI adoption, including the need to appreciate the trust cycle while planning various investments. Prior to the inauguration, UST’s CEO, Krishna Sudheendra, shared the focus with which UST is championing the adoption of Generative AI, including the in-house program to train 25,000 employees on GenAI.

AI has the potential to unlock between $400B and $660B in economic value for the retail industry, according to research. However, few companies have fully realized the potential of new technologies. Developed in-house by UST’s technology and industry sector experts, the platform combines established business models with key GenAI capabilities such as search, summarization, automation, and creation to revolutionize retail practices.

This state-of-the-art platform enables larger business teams to have an out-of-box experience for scenarios in the retail enterprise that would benefit from GenAI-led investments. The platform maps the alignment between GenAI and business capabilities, allowing for more effective decision-making. The UST Retail GenAI platform enables retailers to safely and swiftly pilot GenAI-driven solutions, test various scenarios and outcomes, accelerate innovation, and optimize operations. Retailers can conceptualize and plan their AI strategies with the help of scenario cards, which integrate the ‘Enterprise knowhow’ to address specific challenges.

“At UST, we’ve partnered with six of the world’s top ten retailers, transforming their businesses. While AI is already transforming retail operations, we still need to unlock its full potential. The UST Retail GenAI Platform offers a structured approach for exploring generative AI scenarios, marking a significant milestone in our mission to revolutionize retail operations through the power of generative AI. This is aligned to our focus on building platforms that can help scale the adoption of GenAI-led ways of working,” said Krishna Sudheendra, Chief Executive Officer, UST.

The benefits of investing in digital transformation and specifically AI were echoed in a recent survey commissioned by UST, where respondents cited building resilience to cope with future disruption the highest, increasing profitability, and improving sustainability as key outcomes of technological advancements within their business. UST AlphaAI consolidates the company’s AI offerings to enhance business agility, streamline operations, and accelerate digital transformation journeys.

– Akhil Almeida, Head of Marketing, Bandhan Life Insurance

In India, where linguistic diversity is a hallmark of its rich cultural tapestry, the importance of local languages in marketing cannot be overstated. The significance of this approach is exemplified on Hindi Divas, celebrated annually on September 14th to honour the adoption of Hindi as one of the official languages of India. This occasion underscores the growing recognition of regional languages in fostering deeper connections with diverse audiences.

Power of Local Languages

As the Indian financial services sector continues to expand, the need for localised communication has become increasingly clear. With over 121 languages spoken in India1, the increasing use of regional languages in communication strategies is not just a trend but a necessity. This shift towards localisation is driven by the need to make financial products more accessible and relatable to a broader audience.

Building Trust Through Language

Language plays a crucial role in building trust and ensuring transparency. For complex products like insurance, clear communication is essential. Marketing in local languages ensures that products are explained in a language that resonates with the consumer. This not only clarifies a product’s benefits but also helps establish a stronger emotional connection between the provider and the customer.

Growth of Localised Content

The rise of digital platforms has further amplified the importance of local communication. The success of OTT and social media platforms that provide content in multiple Indian languages highlights a growing demand for localised experiences. The FICCI and EY Media and Entertainment Industry Report 2024 predicts that vernacular content will make up 55% of all content produced in the mid-to-long term. This growth will be driven by the success of regional OTT platforms, which will expand by using dubbing and subtitles to reach a larger audience. This trend is mirrored in financial services, where personalised marketing in regional languages is becoming a key factor in customer engagement.

Enhancing Customer Experience

Localised content in regional languages can transform customer experience. Whether through TV commercials, print ads, radio spots, digital platforms, or even through Gen AI – messages in local languages resonate more deeply with audiences. Digital channels that cater to multiple languages, including websites, apps, and customer support services, make financial products more accessible. Furthermore, personalised communication through SMS, WhatsApp, and social media in regional languages makes interactions feel more personal and engaging.

Content and Empowerment

Creating educational resources in local languages is also crucial. Explainer videos, FAQs, and other educational materials in local languages help demystify financial products for first-time buyers. Simplifying technical jargon and presenting information in a familiar language empowers customers to make informed decisions, thus enhancing their overall confidence in the products they choose.

The Way Ahead

The growth of localised communication and marketing in India reflects a broader trend towards inclusivity and accessibility. As financial services continue to evolve, integrating regional languages into marketing strategies is essential for reaching diverse audiences and fostering stronger connections. By embracing local languages, financial institutions can enhance customer experience, build trust, and drive growth in a complex and diverse market.

In a country as linguistically varied as India, the path to successful customer engagement lies in recognising and celebrating this diversity. As we observe Hindi Divas and reflect on its significance, it is a reminder of the power of local communication in shaping the future of financial services.

12^th September 2024, Siliguri / Kolkata: Marwari Yuva Manch – a professional youth group of Company Secretaries and Chartered Accountants – observed The Teacher’s Day 2024 in Siliguri by honouring Father S M Paul, a Salesian Priest and lecturer at the Salesian College Siliguri, and other educators in the region. Shri Sudhir Kumar, Inspector General of Sashastra Seema Bal (SSB), North Bengal, did the honours at an event held in Siliguri recently.

A plaque, endorsed by Shri Nitin Gupta, Yuva Company Secretary President (2024-25), Shri Manish Agarwal, Yuva Chartered Accountant (CA), Secretary, Shri Binit Agarwal, project Chairperson and Ravi Sankar Malpani, Yuva CA, was formally handed over.

After completing postgraduate studies in Mass Communication and Journalism from Fordham University, New York, and Salesian University Rome, Father Paul has been a lecturer at prestigious institutions like St Anthony’s College Shillong, Calcutta University Journalism Department; as well as Assam Don Bosco University and Salesian College Sonada, Darjeeling, where he founded the Mass Communication and Journalism departments.

His professional contributions include being a reporter for South Asia Religious News (1981 to 1989), Union of Catholic Asia News (1989 to 2012), and Matters India (2013 onward); as well as being accredited to the Vatican Press Office (2007-2010).

Fr Paul was the editor of The Herald Weekly Calcutta (1989-91) and Director of Salesian News Agency Rome (1992-95). He was also the President for two terms at the national Catholic media institutions for radio television and cinema (1999 to 2004); as well as served at the Central Board Film Certification Kolkata (2006-8).

 All India Marwari Yuva Manch is one of the largest volunteer organisations of youth in India with chapters in major cities. Its primary goal is to support young people in contributing to community and country irrespective of caste, colour or creed. All India Marwari Yuva Manch is a non-profit voluntary youth organization founded on 10th October 1977 at Guwahati in the state of Assam.

12th September 2024: Urvashi Rautela dazzled on the runway for designer Robert Naorem at the 5th season of Global India Couture Week. In collaboration with the International Fashion Design Council, the five-day premier fashion event commenced with top designers presenting their collections at The Bristol, Gurugram.

Day 1 of Global India Couture Week (GICW Season 4) showcased an impressive collection of designs by esteemed designers, each bringing their distinct creative flair to the runway. The event opened with a mesmerizing presentation by Robert Naorem, followed by captivating showcases from Keembdanti by Sabyasachi Satpathy, Ama X Aditi Jaggi Rastogi, and Shravan Kumar. The day concluded with a grand finale by Geisha Designs, leaving a lasting impression on the audience.