Category business

New Delhi, 15th June 2023: Weather Risk Management Services (WRMS), an agriculture and dairy risk management company, proudly announces its successful participation in ITC Asia 2023, one of the largest InsurTech events across the globe. Not only did WRMS showcase its revolutionary product, SecuRisk, an AI-enabled parametric insurance platform for emerging economies, catering to both insurers and reinsurers through its Dashboard and brokers and customers through its Mobile app, but it also proudly emerged as the recipient of the esteemed InsurTech Connect Asia Award.

ITC Asia 2023, held in Singapore brought together tech entrepreneurs, investors, and insurance industry incumbents from around the globe. WRMS seized the opportunity to demonstrate the groundbreaking features and far-reaching impact of SecuRisk, which garnered significant interest from executives, entrepreneurs, and investors in attendance. The SECURISK platform being quite recent with its far-reaching impact opportunities for carriers and customers alike became an engaging focal point in the conversations that resonated throughout the event. Discussions encompassed a diverse spectrum, spanning from exploring the comprehensive suite of programs and platform functionalities across the Asia-Pacific region to forging in-depth collaborations with insurers, insurtechs, and brokers from across the region.

Anuj Kumbhat, CEO and Co-founder of WRMS expressed his excitement about the event, stating, “ITC Asia provided an unparalleled platform for WRMS to showcase our commitment to developing climate, disaster, and agriculture risk transfer solutions. The overwhelming response and recognition we received for SecuRisk reaffirm our belief in the power of innovation and collaboration to transform the insurance industry.”

WRMS’s participation in the ITC Asia Awards proved to be a momentous occasion as the company emerged as the ultimate winner. The selection process comprised three rigorous stages, including nomination and shortlisting, ITC Asia Roadshow pitch sessions, and the grand finale of the ITC Asia Awards. Anuj Kumbhat delivered an impressive pitch about WRMS and the SECURISK parametric insurance platform, which captivated the ITC Expert Board and the audience.

The award not only validates the dedication and vision of the WRMS team but also opens new avenues for collaboration with global insurance partners. WRMS has already initiated follow-on conversations with interested insurance partners met during the event to introduce innovative parametric insurance solutions in their respective markets. This recognition and the relationships built at ITC Asia will accelerate WRMS’s impact across emerging economies.

Looking ahead, WRMS has exciting plans for the future. The company announced the beta launch of SECURISK in Q3 2023, inviting insurers, reinsurers, brokers, and distribution partners to register their interest for participation in the exclusive beta round. With the tremendous interest garnered at ITC Asia, WRMS aims to scale SECURISK to 50 countries by the end of 2024, striving to fulfill a significant global protection need estimated at $160 billion.

SecuRisk, WRMS’s flagship product, is a global parametric insurance marketplace that streamlines the creation, validation, beneficiary onboarding, policy buying, and claim management processes. Supported by a proprietary global data stack, SecuRisk addresses the challenges faced by emerging nations by offering simple product education and capacity-building solutions tailored to the needs of low-income communities.

Parametric insurance has proven successful in Europe and North America but remains underutilized in emerging economies due to limited expertise, resources, and data access. WRMS aims to bridge this gap by providing efficient, accessible, and reliable insurance solutions to rising economies, ensuring they can benefit from this option in the long run.

Mumbai, 15th June 2023 – NTPC Limited, India’s largest power generation company, has climbed an impressive 52 positions to secure the 433rd rank in Forbes’ Global 2000 List for 2023. This prestigious list, compiled by Forbes, recognizes the world’s largest companies based on four key metrics: sales, profits, assets, and market value.

The significant improvement in NTPC’s position in the Global 2000 rankings is evidence of the company’s steady expansion, sound financial condition, and persistent dedication to excellence.

In 2022, NTPC held the 485th rank, showcasing a commendable rise by 52 positions within just one year. This demonstrates NTPC’s commitment to scaling new heights of success and emerging as a strong force in the global market.

Among the largest Indian companies, NTPC has climbed one place to secure the 10th rank in 2023. This ranking further solidifies NTPC’s status as a leading player in India’s corporate sector.

Hyderabad: 14th June 2023: Enchante café and confectionery is all set to launch its new menu this season. The café is popularly known for its wholesome baked goods, refreshing beverages and luscious & delicious dishes with traditional flavors and global cuisine. The new menu is meticulously planned to redefine culinary art that meets the alchemy of modern presentations and cooking techniques and let you have a unique fusion dining experience.

Experience the mind-blowing food illusion to treat your taste bud with the mouth-watering new menu that includes soups and salads like Cream of Broccoli & Almond, Burnt Corn Chowder, Watermelon & Feta Salad, and Greek Salad and others.

The appetizers and main course include dishes such as Rosemary Grilled Chicken Crostini, Minty Cheese Croquettes, Grilled Chermoula Chicken, and Corn on Toast, Shish Touk, Mozzarella Cheese Sticks and Quesadillas, Mushroom Risotto, Cannoleni Florentine, Roast Chicken with Veggies & Demi Glaze Sauce, Chicken Parmesane.

There are some breads and wraps added to the menu such as Croque Monsieur Sandwich, Lebanese Platter and Black Olive and Sundried Tomato Bruschetta has also been introduced in the menu.

“Speaking on the New Menu launch Ms. Deepa Dadu, Founder, Enchante said, “We at Enchante Café are constantly innovating by adding new dishes to our Menu to create excitement for our guests and patrons. We want our customers to get better experience. The new menu features continental and Mediterranean cuisine”.

Speaking on the occasion Mr. Mahesh Tibrewal, Co-Founder of Enchante said, “The launch of our new menu marks an exciting milestone for us, as we strive to push the boundaries of taste and creativity. We have meticulously crafted each dish to deliver an extraordinary dining experience. From fusion-inspired creations to bold flavors, our aim is to surprise and delight our customers. We have poured our expertise and passion into every detail, and we can’t wait for our guests to savor the unique culinary journey we have prepared for them during this menu launch.

The spread will be available form 14-06-2023 onwards for breakfast, lunch and dinner. Come in to experience the New Menu at Enchante Café and Confectionery, Hyderabad.

15th June 2023, Amsterdam – The Van Gogh Museum has been awarded a Licensing International Excellence Award in the category Best Brand – Art, Design, Museum. The internationally renowned awards recognizing excellence in brand licensing spanning borders and languages were awarded on the 12th of June during the annual Licensing Expo in Las Vegas. By winning this award the Van Gogh Museum, which celebrates its 50th anniversary this year, receives global recognition for brand licensing, inspired by the life and work of Vincent Van Gogh. This year the museum was nominated for five Licensing International Excellence Awards.

Best Licensed Brand
The Licensing International Excellence Award in the Best Brand – Art, Design, Museum category is presented to a cultural institution or artists that produces creative, innovative products inspired by their own collection or archive. Other finalists were Keith Haring, the Metropolitan Museum of Art, the Victoria and Albert Museum, the National Palace Museum and the New York Botanical Garden. The Van Gogh Museum was also nominated for their collaborations with MUD Jeans, Monini, FILA, and Floral Street.

Marijn Veraart, Head of Licensing of the Van Gogh Museum: ‘We are immensely proud of the recognition by the licensing industry for the award Best Art, Design, Museum Brand. The Van Gogh Museum has been inspiring broad audiences for 50 years with the work and life of Vincent van Gogh. At the museum, but also with authentic products developed with Vincent van Gogh’s legacy in mind. This award is for years of hard work, for our passion for the art and the brand, and the teamwork with our local agents and partners.’

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Licensing partnerships
In recent years, the Van Gogh Museum has entered into successful partnerships with renowned Dutch and international brands including Beddinghouse, MUD Jeans, Moleskine, Ecoffee Cup, Eastpak, and BE@RBRICK. The collaborations are driven by shared values and help the museum to inspire new and diverse target groups with the work and life of Vincent van Gogh. Since 2017, the licensing program has grown successfully by more than 255% and from around 10 licensees locally to more than 100 licensees worldwide. All products are developed with Vincent van Gogh’s legacy in mind, and the generated income supports the activities of the Van Gogh Museum. To mark its 50th anniversary in 2023, the museum has developed a special design inspired by the different flowers that Vincent immortalized in his paintings. This design was used to develop a range of anniversary product lines, in collaboration with licensing partners.

New Delhi; 15th June 2023: Renault, the leading European brand in India, is proud to announce a production milestone of 10,00,000 vehicles in India. This remarkable achievement showcases the Renault’s manufacturing prowess and underlines its commitment to delivering high-quality vehicles to Indian customers.

Renault’s state-of-the-art manufacturing plant in Chennai has played a pivotal role in this remarkable accomplishment. With a production capacity of 480,000 units per annum, the facility stands as a testament to Renault’s relentless pursuit of excellence and innovation. The company has made substantial investments in manufacturing, technology, and talent, creating a robust production infrastructure that ensures the highest standards of quality and efficiency. Renault has also committed major investment of INR 5,300 crore to support the development of six products under the alliance.

Renault’s manufacturing facility along with its vast ecosystem of multi-tier suppliers and dealers, contributed significantly to the economy, society and nation-building. Aligned to the Government of India’s Make-in-India vision, the Company has over the years, strengthened its exports. Currently, Renault India offers three passenger vehicle models, including the popular KWID, KIGER and TRIBER for its customers in India and exports to 14 countries across SAARC, Asia Pacific, Indian Oceanic Region, South Africa and East Africa region.

According to Venkatram Mamillapalle, Country CEO & Managing Director, Renault India Operations, “Achieving the production of 10,00,000 vehicles in India is a significant milestone for Renault. It demonstrates our unwavering commitment to the Indian market and showcases the trust our customers have placed in us. We are deeply grateful to our customers, dealer partners, employees, and all stakeholders who have contributed to this remarkable journey. We will continue to strive for excellence and introduce exciting products that exceed our customers’ expectations”.

The complete range of Renault KWID, KIGER and TRIBER come with innovative and advanced safety features as part of the Human First Program which is designed to minimize the risk of accidents and improve overall safety for occupants and pedestrians alike. As part of this program, Renault has upgraded and introduced new and enhanced safety features across all its product range in India, that are designed to minimize the risk of accidents and improve overall safety. Under the Human First Program, Renault India’s product line-up boasts of innovative and class leading safety features such as Electronic Stability Program (ESP) for enhanced control on curvy roads, catering to both amateur and experienced drivers, Hill Start Assist (HSA) which prevents car roll-back when starting uphill after braking, Traction Control System (TCS) that identifies wheel speed irregularities, automatically reducing spins to maintain grip on slippery surfaces and prevent accidents and Tyre Pressure Monitoring System (TPMS) which provides real-time alerts for under-inflated or punctured tires in the vehicle.

As Renault India celebrates this remarkable milestone, it reaffirms its commitment to delivering high-quality vehicles and exceptional customer experiences. All the models in the Renault range today are not only equipped with high tech features & safety but also offer exciting customer benefits on purchase. Renault as a brand is also offering to its existing owners an outstanding loyalty program that motivates current Renault vehicle owners a never-before opportunity to upgrade to or own a new Renault vehicle with enhanced benefits, designed specifically for them. With a strong foundation, an expanding network, and a customer-centric approach, Renault is poised for continued success and growth in the Indian automotive market.

India 15th June 2023– After making substantial progress toward its 2030 sustainability goals, TE Connectivity, a world leader in connectors and sensors, has strengthened its commitment to reduce the company’s environmental impact.

As detailed in TE’s annual corporate responsibility report, Connecting our World, the company has raised its goal to reduce Scope 1 and Scope 2 emissions, those directly generated by TE, by 70 percent by 2030 (against a 2020 baseline). Additionally, TE set its first-ever goal to reduce Scope 3 emissions, those generated by its external value chain, by 25 percent by 2032 (against a 2022 baseline). These commitments coincide with a refresh of TE’s One Connected World environmental, social and governance strategy to reflect the company’s progress and to align with the Science Based Targets initiative, a globally recognized set of environmental best practices.

“Sustainability is one of the key elements of TE’s purpose and integral to our growth and innovation, both in how we co-create with our customers and the measures we take to reduce our own environmental impact,” said CEO Terrence Curtin. “With this refresh of our One Connected World goals, we are challenging ourselves to do even more to create a safer, sustainable, productive and connected future.”

In 2022, TE succeeded in achieving the following:

• 34 percent reduction in Scope 1 and 2 emissions
• Increasing the number of sites using renewable energy from 37 to 80, which now accounts for half of the company’s global energy use
• 15 percent reduction in total water withdrawal since 2020

Last year was also marked by increased social commitments, including an ambition to reach 30 percent women in leadership by 2026, newly formed goals around wellness and an increased goal to bring STEM education to 10 million people by 2030. TE succeeded in:

• Increasing diversity in leadership and participation in employee resource groups
• Conducting its first human rights risk assessment
• Impacting 3 million people through STEM education worldwide in the past three fiscal years

Visit te.com/responsibility to view the full Connecting Our World report.

Varun MaBangalore, 15th June 2023: Salad Days, India’s pioneering brand in the healthy foods’ category announces its much-awaited expansion into Bangalore. As a part of its immediate plans for the city, the food tech brand aims to launch three cloud kitchens followed by others over the next few months. Salad Days will be offering the same menu as Delhi in Bangalore, given its massive success in the NCR region. With an unparalleled product-market fit, the brand is set to expand to other major metro cities as well, in the near future. By strategically targeting untapped markets and leveraging its existing consumer base, Salad Days aims to acquire over 5 Lakh new customers over the next two years alone.

Commenting on the expansion, Varun Madan, Founder & CEO, Salad Days said, “Expanding into Bangalore is an exciting milestone for Salad Days. Our decision to choose Bangalore as our next destination was driven by its potential as a challenging market with a unique customer buying behaviour. By establishing a strong presence in the Silicon Valley of India, our aim is to meticulously test and refine our standard operating procedures for national expansion over the next few years. Moreover, we anticipate substantial B2B revenue opportunities in Bangalore, which will not only bolster our market presence but also pave the way for our future growth.”

Founded in 2014, Salad Days has been at the forefront of revolutionizing the food landscape in the country, promoting a healthier lifestyle through its range of delicious and nutritious meals. The brand’s vision is to establish salads and other healthy options as regular meal choices in Indian households. Having a robust network of 10 cloud kitchens strategically located across the Delhi-NCR region, the brand’s commitment to quality and sustainability is showcased through its state-of-the-art central kitchen located in NCR’s prime location of Udyog Vihar Phase 1, near DLF Cyber City. Salad Days also maintain an organic farm in the prime location of Vasant Kunj, where they grow a selection of fresh produce for its menu.

Salad Days offers an extensive healthy menu, including salads, grain bowls, baguette sandwiches, pita pockets, overnight oatmeal bowls, soups, cold-pressed juices, smoothies, and desserts. The brand caters to various dietary preferences such as Keto-friendly, vegan, detoxifying, gluten-free, and lactose-free. Currently available on their home channels, Swiggy and Zomato, India’s leading food delivery aggregators, Salad Days aims to provide affordable, healthy, and delicious food options to a wider customer base spread across India.

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India, 15th June 2023: Godrej Agrovet Limited’s (GAVL) Crop Protection Business today announced that its biostimulant, Double, has completed 25 years of enabling better yield for Indian farmers. Double has treated ~3 Crore acres of Indian farmland and brought prosperity to the lives of ~2 Crore farming families over the last 25 years. The company also launched a celebratory pack marking 25 years of Double and its commitment to better farming in addition to protecting farmers from counterfeit products.

Double’s new pack is user-friendly and comes in a safe packaging bottle. It has a tamper-evident seal that blasts open and falls when anyone tries to open the bottle. The label has complex watermarks to avoid duplication and the bottle also has a hologram – a unique 9-digit code on each and every bottle to ensure authenticity. While the hologram also has the smartly embedded letter ‘G’ to assure the customer that the product is genuine, a ‘Braille’ marking on the neck reading danger has also been added for the visually impaired.

Double, a biostimulant, reduces flower drops and fruit shedding in cotton, soybean, groundnut and vegetable (tomato) crops. Flower drops and fruit shedding impact farmers’ yield by 15%-25%. Proper farming practices, coupled with the right dosage of Double, can aid farmers in increasing their yield. In Cotton, Double aids in better fertilization, thereby enabling better seed setting (a key developmental stage in the process of seed formation) and stronger pod (a rounded mature fruit) foundation. On average, two applications of Double aid in enhancing yield by 18%-20%. Similar application of Double on Soybean and Groundnut crops helps the crop overcome the fertilization barriers, reduces flower dropping, and improves pod setting resulting in increase in yield by 30%-35% and 10%-12% respectively. For Tomato, it helps improve the viability of the pollen and improves flower-to-fruit conversion, resulting in reduced flower dropping and more fruits per plant, uniform size, color and improved fruit weight by 15%-18% depending on the crop.

Commenting on 25 years of Double, Balram Singh Yadav, Managing Director, GAVL said, “Double was launched with an objective to help farmers increase yield of their crops. Since its inception, we have touched the lives of ~2 Crore Indian farmers and have witnessed an average 18% increase in yield and hence income of our Indian farmers. We are confident that a product like Double, if used in proper quantity and at right time, would aid farmers to further enhance their yield and income in addition to ensuring food security of our nation.”

GAVL started working extensively on Homobrassinolide (HBR), a raw material for Double, in 1992. Witnessing its role in improving cell division and cell elongation in crops, the company launched Double in 1998, enabling farmers to leverage its benefits. In addition to reducing flower drop and fruit shedding, a biostimulant like Double also aids in enhancing a crop’s ability to withstand biotic and abiotic stresses.

Abiotic stress includes temperature, ultraviolet radiation, salinity, floods, drought etc, which impacts crop plants while biotic stress refers to damage caused by insects, herbivores, fungi, bacteria or weeds.

Burjis Godrej, Executive Director, GAVL highlighting the importance of biostimulants said, “70% of yield gap globally is dictated by climate change[1]. In India too, soaring temperature and erratic rainfall continue to impact crop yield and favor weed & pest proliferation. It is under such unfavorable conditions that biostimulants aid in enhancing the yield of the crops. The global and Indian biostimulant market is expected to grow at a CAGR of 11.8% and 12.5% respectively by 2031. Hence, as the world’s largest producer of HBR, we at GAVL will continue serving Indian farmers by offering different biostimulants as per their crop requirement.”

India is one of among the few countries around the world to define separate regulations for biostimulants. With the unorganized biochemical sector, worth ~INR 1,640 Cr, being one of the fastest growing subsectors, the guidelines released in 2021 mandates manufacturers to label the products to include chemical composition and expiry date, as well as mandatory prior registration with the government[2].

Commenting on the importance of regulation, Rajavelu N.K, CEO, Crop Protection Business, GAVL said, “A farmer invests in a crop protection product with a hope of achieving optimum yield from their crop. With 85% of Indian farmers being small and marginalized, it is imperative to provide them a quality product which is genuine and easy to use. Hence, while setting up the regulation is a first step, there is a need for industry-wide collaboration to create awareness amongst the farmers by educating them on the benefits surrounding usage of authentic product in appropriate and recommended quantity.”

The new packaging of Double is aligned to the guidelines laid down by the government and is convenient to use.

The climate crisis has cost India 5 million hectares of crops in 2021. With pest & diseases and poor agricultural practice impacting the yield too, GAVL believes that it is the need of the hour for the industry to create awareness around Crop Protection – utilizing Right Product at the Right Time & Right Spray – and the importance of Biostimulants along with Integrated Pest Management.

Automation capabilities allow finance teams to better stabilize receivables and reduce operating costs across the organization, according to a recent study. “Teams recoup an average of 227 hours per month along with better employee retention rates,” said Yan Lazarev, Co-Founder & CEO of Gaviti.

Tel Aviv, Israel, June 14, 2023 — The latest research conducted by Gaviti, a leading accounts receivable collections platform, revealed B2B companies who collect payments using online payment gateways reduce late payments by an additional 33% compared with companies that use A/R automation alone for their dunning process. Researchers reviewed over 14 million invoices sent through automation or preset workflows between 2019 and 2023, highlighting the contrast between those who used a gateway and their peers who saw an increase in delinquent payments.

While there has been a rise in the adoption of accounting and receivables automation over the last number of years, the majority of companies still rely on traditional manual practices. Gaviti’s research showed that by adopting A/R collections automation, companies see DSO improvement of up to 34% in the first six months alone. What’s more, the study shows that companies who go one step further to implement payment gateways into their collections strategy, experienced an additional cash flow improvement of 35% for a total of over 50% improvement.

“The 33% faster time to receivables is only the upfront benefit,” said Yan Lazarev, Co-Founder & CEO of Gaviti. “Teams who utilize multiple tools across our platform are seeing collections teams recoup an average of 227 hours per month along with better employee retention rates.” The study focuses solely on the benefits of payment gateways, not taking into account the boost in cash flow teams experienced when moving from manual processes to full automation.

“In addition to a more reliable cash flow, the study showed a drop of late payments by 9% year over year and average days late (ADD) decrease by 34%,” said Michelle Cohen, Lead Data Analyst at Gaviti. “In addition, we were pleasantly surprised to find a 3% increase in early payments YoY.” With near-quarterly interest rate hikes, companies are putting more effort into avoiding financing ventures and keeping cash on hand. The ability to reduce both resources necessary to process invoices and the ability to collect on them in a third of the time can give companies the boost they need to move faster towards new initiatives at a lower cost.

Bringing dedicated automation technology for the A/R collections teams will empower the teams beyond collecting receivables faster. For the first time ever, finance teams have data at their fingertips to manage credit in a smart way using customers’ payment histories. In addition, managers can gain an overview of department and employee processes, identifying opportunities for further optimization.

Mumbai/Pune/NewDelhi/Bengaluru, 14 June 2023InnoServGroup,a fast-growing integrated digital acceleration firm serving media, corporate, and academia, today announced the merger of Kalzoom AdvisorsPvt. Ltd., asubsidiaryof5FWorldLtd., members fit investor group, install equity deal. The expanded offering and vertical reach will lead to a doubling of seven ues in the next 12 months.

Commentingonthemerger,Dr.Ganesh Natarajan, the Chairman,5FWorld, said,” Then con solidation strategyof5F w0rld means divestingany busines1 42023s othert han the core advisory andinvesting indigital businesses and grow thfirmsinthet  echnology industry one hand anddivesting other businesses.Having beenonInnoserv’s advisory board for sometime, know them to be a forward-thinkingorganizationthatofferssubstantialvaluetoSMBs, corporates, media houses, and academic institutions. Look forward to actively participating in their continued growth.” Sharinghisperspective, Ramachandran Gopalakrishnan, Chairman, InnoServGroup, said,” The merger sawin-win for both organizations. While KalzoomAdvisorstremendouslybolstersInnoservgroup’sdigitalcapabilities, Kalzoomwillbenefit fromaccesstoawiderclientbase&capabilities.”

Added, Rahul Jain, Managing Director, Innoservgroup,” Inorganic growth is a key element of our global growth strategy and we are happy with the Kalzoom acquisition. We have already started work on building more tailored solutions now that they are on board. This acquisition is part of the clear strategic direction we have set forourselvesThegoalistoemerge as a formidable player in the Digital Marketing arena.”