Archives October 2024

Zypp Electric Celebrates Diwali with Gold & Silver Coin Distribution and ESOPs for Delivery Partners

Mumbai, 25th October 2024: Zypp Electric India’s Leading Tech-Enabled EV-as-a-service platform, has launched its festive campaign, “Zypp Diwali Bonanza: Top 30 riders Pan-India to get Gold, Silver Coins”, running from October 20th to November 20th, 2024. The campaign is a festive reward initiative designed to celebrate Diwali while enhancing gig workers’ earnings and long-term benefits. It aims to empower and reward current and former Zypp Pilots with exclusive festive benefits, recognising their hard work and contributions to the company.

Mr. Akash Gupta, Co-Founder and CEO, Zypp Electric handing over ESOP to Zypp Pilots

The highlight of this campaign is Zypp Electric’s commitment to recognizing its longest-serving Zypp Pilots by introducing an Employee Stock Ownership Plan (ESOP) valued at ₹15 lakhs for five dedicated Pilots. This initiative aims to honour their consistent contributions and dedication, offering them a pathway to financial security and retirement benefits. The ESOP plan aligns with Zypp Electric’s long-term vision of empowering gig workers, ensuring they are not only participants in the gig economy but true partners in the company’s journey toward sustainable growth

The festive season marks a peak period for quick-commerce, e-commerce, and food deliveries, requiring an active gig workforce, with every delivery partner working hard. To reward their efforts, Zypp Electric has launched a special campaign. As part of this campaign, the top 30 Zypp Pilots will receive gold and silver coins based on their performance. Additionally, to further engage its gig workforce, Zypp is offering an opportunity to double earnings on October 31st, encouraging both current and former pilots to maximise their earnings on this special day. The company has also introduced a Zypp Electric Scooter ownership plan for its pilots in a rent-to-own format, enabling them to own the scooters they ride at no extra cost.

Mr. Akash Gupta, Co-Founder and CEO, Zypp Electric said, “Delivery Executives, whom we call Zypp Pilots, are at the heart of our operations. This Diwali, we want to give back in a way that truly makes a difference. Thanks to their hard work, we’re able to achieve 6 million green, carbon-free deliveries every month. With the Zypp Diwali Bonanza, we are not only offering immediate festive rewards but also securing long-term benefits, like ESOPs, for our most dedicated Pilots. It’s our way of saying thank you for their hard work and commitment. Making Zypp Pilots partners in the company has always been a dream, and we are delighted to finally make this a reality.”

Zypp Electric is India’s leading tech-enabled EV-as-a-service platform, transforming last-mile logistics through sustainable electric mobility solutions. Focusing on gig worker empowerment and innovative logistics services, the company is committed to building a greener and more inclusive future for the gig economy. The company currently has 22,000+ Zypp delivery pilots.

Essar Group appoints Manu Kapoor as Group Chief of Public Policy and Corporate Affairs

Mumbai, October 25, 2024: Essar Group is pleased to announce the appointment of Manu Kapoor as its Group Chief of Public Policy and Corporate Affairs.

Pic - Manu Kapoor

Manu brings over three decades of specialised experience working with corporations, governments, public sector agencies, and industry groups. He is an established leader with a successful career of managing corporation’s reputation and brands across Middle East, Africa, Central Asia, Russia, CIS, Eastern Europe, Baltics & Asia. He carries an in-depth knowledge of geo-political landscape across the globe.

Commenting on his appointment Prashant Ruia, Director, Essar Capital, said, “We are delighted to welcome Manu Kapoor to the Essar family. As Group Chief of Public Policy and Corporate Affairs, Manu will be responsible for building and maintaining strategic relationships with key stakeholders, including businesses, government bodies, regulators, media, and policymakers. These are exciting times for Essar, and we look forward to his valuable contributions in driving our company’s success.”

“Essar is strengthening its global presence in energy transition, green steel, digitization, technology, and innovation. It’s an incredible opportunity to collaborate with industry experts and contribute to the economic growth of India while making a global impact. I look forward to being part of Essar’s ongoing success.” said Manu Kapoor.

Celebrating 15 Years of Literary Spirit at Mumbai LitFest: November 15-17, 2024

Mumbai, 25th October 2024: Celebrating 15 unbroken, exhilarating years of spreading the good word, Literature Live! The Mumbai LitFest 2024 will return with its 15th edition at the NCPA, Nariman Point, Mumbai, with over 125 writers, speakers, thinkers and performers from 13 countries. The three-day literary festival promises to once more regale audiences with lively and stimulating sessions across a wide variety of subjects ranging from poetry to business, history to conservation, society to travel, science fiction to entertainment, and beyond.

This year’s stellar line up will include Arundhathi Subramaniam, Christopher Merrill, Farrukh Dhondy, Gautam Bhatia, Gulzar, Huma Qureshi, Hussain Zaidi, Ila Arun, Jane Goodall, Jane Ohlmeyer, L Subramaniam, Lavanya Lakshminarayan, Marcus du Sautoy, Mohinder Amarnath, Murzban Shroff, Pavan K Verma, Prajakta Koli, Pico Iyer, Ranjit Hoskote, Shahu Patole, Subhash Ghai, William Dalrymple.

The Festival highlights of The Great Debate, the prestigious Lifetime, Poet Laureate and Literary Awards, Book in Focus, book launches and daily dramatic performances will continue to feature. The Rotary Writing for Peace Award, the Sultan Padamsee Awards for Playwriting and the Binod Kanoria Awards for Children’s Literature will be announced. The keenly awaited book swap, daily workshops and campus outreaches for college students will also be held.

Every year the Litfest mounts a new experience for its visitors. This year’s is a specially created Virtual Reality installation, that places the viewer right in the middle of Franz Kafka’s The Metamorphosis. The book is also this year’s Book in Focus at the Festival, to commemorate the author’s 100th death anniversary.

The Little Festival, a special Litfest for children of ages 8 to 14 from city schools and NGOs, will be held simultaneously on Friday 15 and Saturday 16 November at the NCPA in collaboration with the H T Parekh Foundation, presenting children’s books by Indian and international writers. Unique features will be bilingual sessions, the moderation of discussions by children, a Literary Zone for storytelling, and nature walks.

Celebrating this landmark year, Festival Co-Director Amy Fernandes said: “The Literature Live! Mumbai Litfest was started by Anil Dharker, ably supported by Shashi Baliga. in 2010, both of whom tragically left us in 2021. Every year we bring to Mumbai a memorable cast of world class thinkers, writers, and speakers in almost every field of human thought and action. As we reach the milestone of 15 unbroken years, we are proud of having kept the Festival running even through the pandemic years by going online, then hybrid. We are grateful to our presenting sponsor Godrej Industries for their support in sustaining this vital cultural endeavour, and to NCPA, Kotak and all our partners who have steadfastly supported us on this journey”.

Quasar Thakore Padamsee, Festival Co-Director said: “I have been associated with Literature Live! The Mumbai Litfest since its inception and consider it a privilege to have participated in and witnessed its journey to the iconic status it has justifiably achieved. Over the years we have held a series of fantastic literary events, and most critically have built a vital platform of diversity, inclusivity, and innovation. In a convenient turn of numbers, this is a double celebration year as art management company QTP (of which I am a part), who produce the Festival, is celebrating its silver jubilee. I hope this most fitting and happy association continues well into the future.”

Nadir Godrej, Chairperson, Godrej Industries Group, said: “Godrej Industries Group is pleased to associate with Literature Live! The Mumbai LitFest as the presenting sponsor. Our commitment to supporting and nurturing the literary arts aligns with our belief in the power of conversations and culture to inspire and connect communities. We look forward to fostering creativity, dialogue, and a deeper appreciation for literature through this cherished partnership.

Some past participants: A C Grayling, Adil Jussawalla, Alexander McCall Smith, Anita Desai, Amitabh Bachchan, Amitav Ghosh, Amy Tan, Anthony Horowitz, Christophe Jaffrelot, David Baldacci, Geetanjali Shree, Germaine Greer, Gieve Patel, Irwin Allan Sealy, Indra Nooyi, Javed Akhtar, Jeffrey Archer, Mahesh Elkunchwar, Margaret Drabble, Mark Tully, Marlon James, Miriam Margolyes, Neena Gupta, Neil Gaiman, Nick Hornby, Raghuram Rajan, Ramachandra Guha, Roger Penrose, Ruskin Bond, Salman Rushdie, Shashi Tharoor, Siddhartha Mukherjee, Steven Pinker, Sudha Murty, T M Krishna, Thomas Friedman.

HDFC SKY Introduces Margin Trading Facility at 1% p.m. with No Transaction Fees on ETFs

Mumbai, October 25, 2024 — HDFC SKY, one of India’s premier discount broking platforms, is excited to announce a transformative set of offers aimed at significantly lowering transaction costs for its valued customers. The company has implemented a substantial 20% reduction in the interest rate for its Margin Trading Facility (MTF), decreasing it from 15% to a competitive 12% per annum, which translates to just 1% per month. In a further bid to support investors, HDFC SKY is now offering zero brokerage fees on transactions involving Exchange-Traded Funds (ETFs). These strategic enhancements are designed to elevate the customer experience, foster new investment avenues, and democratize trading options for users across the board.

“At HDFC SKY, our mission is to prioritize the financial interests of our clients,” said Mr. Dhiraj Relli, Managing Director & CEO of HDFC Securities. “Reducing our MTF interest rate and eliminating brokerage fees on ETF trades solidifies our commitment to providing cost-effective financial solutions. We are confident these changes will empower our clients to refine their trading strategies and maximize their investment outcomes.”

Mr. Relli elaborated on the advantages these adjustments bring, stating, “Investors now can lower their borrowing costs with our MTF, allowing them to increase their investing potential without the financial strain of high-interest payments. Furthermore, the removal of brokerage fees on ETF investments facilitates portfolio diversification, motivating broader engagement in the capital markets.”

Mr. Sandiip Bhardwaj, Chief Operating & Digital Officer at HDFC Securities, highlighted the significant benefits of both the MTF and ETFs, explaining, “Our Margin Trading Facility provides investors with amplified buying power, paving the way for enhanced returns, greater diversification, and increased flexibility in trading and payments. Additionally, ETFs offer a sophisticated asset class with flexibility; they undergo regular rebalancing and can be traded seamlessly, an option which Mutual Funds don’t offer.”

“With HDFC SKY, investors have access to a comprehensive array of 219 listed ETFs, opening doors to enhanced diversification, lower transaction costs, improved liquidity, transparent pricing, heightened tax efficiency, and exposure to a variety of sectors and asset classes,” Mr. Bhardwaj added.

HDFC SKY is also dedicated to providing market participants with research-driven insights from a team of in-house analysts who specialize in both fundamental and technical evaluations, assisting investors in making informed decisions.

The platform boasts a comprehensive suite of analytical tools, including technical charts, historical data, price alerts, and stop-loss recommendations, to further guide clients in their trading journeys. Investors can explore an array of ETFs, including Index ETFs, Gold ETFs, and specialized options focusing on sectors like banking, infrastructure, liquid assets, and international markets.

The recent reduction in MTF interest rates, alongside the introduction of zero brokerage on ETFs, underscores HDFC Securities’ ongoing commitment to delivering value-driven financial services tailored to the needs of its clients.

Kelley MSIS AI in Business Case Competition Winners Announced

The Indiana University – Kelley School of Business is pleased to announce the winners of the recent MSIS AI in Business Case Competition hosted at IU India Gateway. The competition showcased the exceptional talent and innovative ideas of students from top institutions across India.

Winners

Out of ten teams and hundreds of participants, the three Institutes that outshine everyone else as the winners of the competition are:

  • Shri Ram College of Commerce (SRCC) (Delhi University)
  • College of Engineering, Guindy (Anna University Chennai)
  •  Amrut Mody School of Management (Ahmedabad University)

The winning teams demonstrated a deep understanding of AI applications in business, coupled with their ability to develop creative and effective solutions. Their projects showcased the potential of AI to drive innovation and efficiency in various industries.

“We are incredibly impressed by the quality of submissions received for this competition,” said Professor Bipin Prabhakar, Faculty Chairperson, Information Systems Graduate Programs, Kelley School of Business. “The winning teams have truly excelled in their application of AI to address real-world business challenges. A huge shoutout to all the participants for your hard work and dedication and a hearty congratulations to our winners”

The MSIS AI in Business Case Competition is part of the Kelley School of Business’ commitment to fostering innovation and preparing students for successful careers in the rapidly evolving field of information systems. The competition provides students with a unique opportunity to apply their knowledge and skills to real-world problems and gain valuable experience.

Kelley School of Business also declared the priority application deadline for Round 2 as November 1. Students can save time and money on applying early through a simplified application process that requires fewer documents initially and has no application fee.

Key Requirements:

  •  No application fee
  • Undergraduates: Resume, scanned transcript, and student copies of test scores (GRE/GMAT, TOEFL)

ASUS strengthens pan India retail strategy with the launch of its 6th Select Store in Chennai

India, 25th October 2024: As a step towards strengthening the brand’s retail footprint across the country, ASUS India, Taiwanese tech giant today announced the launch of a select store in Chennai. The Select Store extends a touchpoint to the residents of Chennai to explore and purchase refurbished ASUS technology that has been thoroughly tested and backed by a 1-year warranty at discounted rates.

The new store spread across 300 sq. ft. is an endeavor by the brand to contribute towards strengthening the e-waste circular economy and institutionalizing the refurbished PC market in the country. The showcased products have undergone a rigorous, multi-check inspection that comprises an exhaustive process of testing, meticulous restoration, and ASUS certification, thereby ensuring their compliance with standards akin to those of brand-new products.

Commenting on the launch of the store, Arnold Su, Vice President of the Gaming and Consumer Segment at ASUS India, shared, “Our select stores reflect two core principles of ASUS: a strong retail footprint and a commitment to sustainability across the PC sector. To reinforce this mission, I’m excited to share that we are opening our sixth ASUS Select Store in the dynamic city of Chennai.”

“We’ve seen a rising interest in pre-loved PCs in Tamil Nadu over the past few years, and opening our Select Store in the state is our way of addressing this demand. Our Select Stores are crucial for promoting sustainability and ensuring that customers have access to affordable options. “Added Arnold Su.

In addition to the recently launched Select Store in Chennai, Nagpur, Delhi, Mumbai, Kolkata and Hyderabad also boast of the presence of ASUS Select Stores. Chennai also houses 2 ASUS Exclusive Stores that are operational at key locations to allow potential customers to experience the products.

Illuminate Your Diwali: 99 Pancakes Macaron Gift Boxes for a Sweet Festive Experience

Mumbai, October 25, 2024: Immerse in the spirit of Diwali with 99 Pancakes’ Macaron Boxes. The macarons are a celebration in themselves, crafted with care to bring joy to your festivities. Each box, adorned in stunning Diwali-themed packaging, is filled with a variety of flavours that promise to excite your satisfaction. These limited-edition treats can transform ordinary celebrations into extraordinary moments.

The Diwali Gifting Macaron Boxes come in two sizes: 6-piece box for a 12-piece box . Each macaron is made with high-quality ingredients, ensuring a rich and lavish taste. With a crispy outer shell and a smooth, creamy filling, these macarons offer a delightful mix of flavours and textures. Perfect for treating yourself or gifting to loved ones, these are sure to make your Diwali celebrations even sweeter.

Adding to their appeal, the macarons come in a packaging that reflects the vibrant colours and spirit of the festival, ensuring the gift stands out. Whether you’re looking to surprise family and friends or send a thoughtful gift to business partners or colleagues, these macarons are sure to leave a lasting impression.

“We are excited to offer something special to our customers this Diwali,” said Sarfaraz Shaikh, COO of 99 Pancakes. “Our Premium Diwali Gifting Macaron Boxes combine quality, taste, and flavour, making them the perfect blend of understanding and festive spirit. We believe these macarons will bring joy and sweetness to everyone who receives them.”

As this is a limited-time offer, the Diwali Gifting Macaron Boxes are poised to be a popular choice for those looking for a unique and delicious way to celebrate the festival. One can buy these delicious macarons from 99 Pancakes stores across India.

Future-Proofing Home Networks: The Game-Changing Collaboration Between Heights Telecom and Check Point

As homes become more connected, the role of home gateways – the devices that connect home networks to the internet – has become more critical than ever. These routers, once considered simple conduits for internet access, are now the gatekeepers of entire smart ecosystems, controlling everything from security cameras to connected appliances. However, this convenience comes at a cost: routers are increasingly targeted by cybercriminals, making robust security essential.

In response to the growing threat, Heights Telecom has partnered with Check Point Software Technologies to launch the Heights Cyber Dome, a next-generation security solution that integrates Check Point Quantum IoT Protect Nano Agent directly into Heights Telecom’s home gateways. This collaboration delivers comprehensive protection, providing the first line of defense for home networks.

The Rising Threat Landscape

With the explosion of remote work and smart homes, routers have become a prime target for cyberattacks. Attackers exploit weaknesses in consumer-grade devices, targeting vulnerable routers to infiltrate home networks. These breaches are not limited to isolated incidents of data theft; they can compromise entire networks, resulting in devastating consequences such as financial fraud, ransomware attacks, and espionage.

One of the most alarming trends is the rise in state-sponsored attacks. Nation-state actors exploit consumer routers for espionage, network control, and infrastructure disruption. A striking example is the VPNFilter attack, a large-scale malware campaign orchestrated by the Russian-backed APT28 group in 2018. This attack compromised over 500,000 routers globally, enabling attackers to intercept communications and even render devices unusable.

In more recent developments, Chinese hackers were found to be running a massive botnet known as Raptor Train, comprising over 260,000 compromised devices, including home routers and IP cameras. This botnet could launch large-scale DDoS attacks, severely disrupting services. Following this, the FBI issued a security alert warning of increased botnet activity linked to state-sponsored groups from China.

These examples underscore the need for robust security solutions that protect routers from sophisticated attacks while ensuring that the home network remains secure.

Introducing Heights Cyber Dome: An Innovative Security Solution

To combat these evolving threats, Heights Telecom has introduced Heights Cyber Dome, powered by Check Point Quantum IoT Protect Nano Agent. This revolutionary solution transforms home gateways into highly secure devices, offering protection against even the most advanced cyberattacks.

The Quantum IoT Protect Nano Agent is a lightweight, embedded security solution that continuously monitors for vulnerabilities in routers and IoT devices. By leveraging Control Flow Integrity (CFI) technology, it prevents advanced exploits such as shell injections, memory corruption, and control flow hijacking. The Nano Agent also provides runtime protection, ensuring that zero-day attacks – previously unknown vulnerabilities – are blocked before they can cause harm.

This innovative solution offers several key benefits:

Real-Time Threat Prevention: The Nano Agent ensures continuous monitoring and protection from the moment the router is powered on, blocking threats in real time without disrupting network performance.
Zero-Day Defense: Protects devices from zero-day attacks, where previously undiscovered vulnerabilities are exploited by cybercriminals.
Sophisticated Malware Prevention: Defends against nation-state attacks, botnet infections, ransomware, and other sophisticated malware threats​.

Miri Ofir, Director of R&D IoT at Check Point, explains: “With Quantum IoT Protect, we provide the highest level of security to connected devices. By embedding our Nano Agent into Heights Telecom’s home gateways, we deliver enterprise-grade protection to home users, safeguarding their networks from even the most advanced threats without compromising performance.”

Beyond Protection: The Value of Regulatory Compliance

In today’s cybersecurity environment, regulatory compliance is critical. As governments worldwide recognize the importance of securing IoT devices, stricter regulations have been introduced to ensure that devices are built with security as a priority. These regulations include the Cyber Resilience Act (CRA), the Network and Information Security Directive (NIS2), and the Product Security and Telecommunications Infrastructure Act (PSTI).

Heights Cyber Dome complies with these standards, ensuring that home gateways meet stringent regulatory requirements while offering comprehensive protection against unauthorized access. Non-compliance can lead to severe consequences, including substantial fines and reputational damage. However, by adhering to these regulations, Heights Telecom not only avoids these risks but also provides added trust and confidence to both ISPs and consumers.

Furthermore, complying with these regulations promotes innovation in cybersecurity by setting a higher standard for device manufacturers, ensuring that consumers benefit from stronger, more secure devices from the outset.

Strengthening Network Security with Clean Pipe Technology

Heights Cyber Dome does not stop at device-level security. The solution integrates Check Point’s clean pipe technology, which serves as a digital filtration system for all incoming traffic at the ISP level. This technology is designed to filter out malicious traffic – such as malware and DDoS attacks – before it can reach the home network.

This approach ensures that users remain protected, even from large-scale, high-volume attacks. For ISPs, clean pipe technology reduces network disruptions, safeguarding customer experience while minimizing costly service downtime.

By implementing clean pipe solutions, Heights Cyber Dome addresses both the threats entering through the device and those attempting to penetrate the broader communications infrastructure.

Revolutionizing Home Network Security

The collaboration between Heights Telecom and Check Point represents a major leap forward in the world of home network security. Heights Cyber Dome is not just a reactive solution; it provides proactive, always-on defense against emerging threats.

One of the most powerful aspects of this partnership is its focus on transforming the home gateway from a vulnerability into a highly secure endpoint. With Check Point Quantum IoT Protect technology, Heights Cyber Dome offers unmatched protection against the full spectrum of cyber threats, from nation-state attacks to financially motivated cybercrime.

Moreover, the solution’s seamless integration into Heights Telecom’s devices ensures that users are protected without needing to manually install or maintain additional security measures. The combination of device-level security, regulatory compliance, and clean pipe technology offers a holistic approach to home network protection that is both innovative and essential.

Improving Oral Health in Children

October 25th, 2024: In response to the oral health crisis affecting millions of children in England due to tooth decay, a group of recommendations has been put up by scientists at Newcastle University. The research urges the new government to create a national strategy for children’s oral health and offers suggestions for lowering childhood sugar intake, optimising fluoride exposure, and expanding access to dental care.

The study, which is titled “An evidence-based plan for improving children’s oral health with and through educational settings,” was produced by Child of the North and Anne Longfield’s Centre for Young Lives think tank. It focusses on how the incoming government may prioritise young people’s life opportunities in the formulation and implementation of public policy.

In England, tooth decay affects millions of children and young adults, and the research highlights the significant and varied scope of this problem and how it lowers their quality of life. If left untreated, it can lead to toothache, insomnia, changed eating patterns, and even harm speech and language development. Children who suffer from poor dental health may be less likely to develop to their full potential and experience a decrease in confidence. Additionally, there is evidence that indicates the impact of dental decay on children living in underprivileged areas is greater, even when taking into consideration the various degrees of dental decay.

In order to enhance children’s oral health and lessen social disparities—particularly those faced by youth in the North of England—the research suggests that the incoming government create and execute a national strategy for improving children’s oral health. A national board of representatives from departmental and local government offices, dental associations and speciality societies, academic institutions, citizen representatives, and charitable groups would be in charge of this. This approach would consist of:

· Minimising sugar intake through legislative measures like extending the Soft Drinks Industry Levy to cover additional sugar-sweetened drinks like sugary milkshakes.

· Imposing limitations on the promotion, marketing, and advertising of food.
restricting sales of energy drinks with caffeine to those under the age of sixteen.

· Maximising the amount of fluoride exposure by combining community water fluoridation with more focused initiatives like supervised brushing.

Additionally, it lays out recommendations for how early childhood and education-based interventions—co-designed by health visitors, nurseries, and schools—can be optimised for their impact.

The study showcases cutting-edge methods that are now being used to treat children’s oral health issues. It outlines the important role that local government may play in lowering sugar intake and the various approaches that local governments have taken to cut back on the consumption of foods and beverages that are rich in fat, sugar, and salt.

In comparison to their southern counterparts, children and young people living in the North of England are more severely impacted by higher levels of deprivation and associated unmet dental needs, according to Paula Waterhouse, President of the British Society of Paediatric Dentistry and Professor of Paediatric Dentistry at Newcastle University. She said: “It is time to establish an oral health strategy for children and young people across England. The evidence base garnered by existing oral health research should be used to inform Government strategy and implementation of both national and local policies.

“We need to act now. Our children’s health depends on it and it’s everybody’s business – parents, dental and medical teams, health visitors, industry, education colleagues, and policy makers. We all have a part to play.”

IPRS Retains Status as 4th Largest Society by Revenue in Asia-Pacific, According to CISAC Global Collection Report 2024

New Delhi, 25th October 2024: The Indian Performing Right Society Limited (IPRS) continues to solidify its position as one of the top four revenue-generating societies in the Asia-Pacific region, as indicated by the recently released CISAC Global Collections Report 2024. The report reveals record-breaking global royalty collections, highlighting significant trends in the Indian and Asian music markets. The report reveals that global music collections reached an all-time high , representing a 7.6% increase compared to the previous year. While the Indian music landscape continues to expand with promising digital growth, issues related to low compliance and the slow growth of paid subscriptions on streaming platforms continue to hinder the revenue potential for creators and publishers in the Indian music industry.

In 2023, IPRS’s total collections surpassed INR 500 Crores, with digital revenues accounting for 74.2% of this figure. This impressive digital growth, 493.6% over the last five years, reflects India’s evolving digital consumption habits. India is one of the largest consumers of music globally, with millions accessing music daily through multiple digital and streaming platforms. Despite this, the number of paid subscribers in India remains disproportionately low compared to other major markets. The reliance on free, ad-supported tiers significantly limits the revenue generated from streaming, creating a value gap for artists and rights holders.

Another critical concern highlighted in the CISAC report is the issue of fair value and low compliance with copyright and licensing laws in India. Many broadcasters, venues, events and digital platforms fail to adhere to licensing requirements, leading to delayed payments to rights holders and missed opportunities for revenue growth.

The low compliance rate is a major concern for rights management organizations like IPRS, which have been working to improve transparency and strengthen the enforcement of copyright laws. Ensuring that music creators receive fair compensation for the use of their work remains a top priority, but it will require more collaborative efforts between industry players and policymakers to bridge the gaps in the current system.

While digital streaming dominates India’s music revenues, the live music industry too holds significant untapped potential. Live and public performances, including concerts and festivals, rebounded strongly in 2023, contributing to a 22% increase in global collections. India, with its rich cultural diversity and growing appetite for live entertainment, is well-positioned to capitalize on this trend.

However, the live music sector in India remains fragmented, with a vast number of organizers and venues across the country needing greater awareness and adoption of music licensing norms and best practices. Enhancing this understanding is essential to ensure that revenue flows equitably to the creators who form the foundation of the music ecosystem. While there is a broad exception in law for marriage-related events, where music usage does not require licensing, it is important to note that other live music performances still require proper licensing to ensure fair compensation for creators. IPRS is actively addressing this gap by promoting industry-wide compliance through its robust licensing network, aiming to diversify revenue streams beyond digital collections and support the thriving live music sector.

Commenting on the same Mr. Javed Akhtar, Chairman of IPRS said, “Our standing as one of the top revenue-generating societies in the Asia-Pacific region truly reflects the incredible creativity and talent that defines India’s music industry. While we are pleased with our growth in digital collections, there are important challenges that we must address, particularly around low compliance and adequate enforcement of copyright laws. We urge for greater support from the industry stakeholders and the administration to unlock the immense potential our music holds and solidify our position on the global stage.”

CISAC Director General Gadi ORON commented, “This Report gives a unique overview of the economic and cultural value of our global CISAC community. This year’s figures, for royalties’ collections by CISAC members in 2023, paint a positive picture of a healthy, stable and promising sector. Overall, collections on behalf of creators reached a new all-time high of EUR13.1bn, an impressive 7.6% increase. During the last five years, CISAC members have added over EUR3bn to the amounts they collect for authors and copyright holders. This, in itself, is a major achievement and shows the strength of the collective management system.”

Mr. Rakesh Nigam, the CEO of the Indian Performing Right Society Limited (IPRS), added, “We are proud of the progress IPRS has made, but we recognize that significant challenges remain. The low compliance rate in India is a serious concern, as it directly affects the earnings of our creators. We are committed to working with industry players to ensure that licensing agreements are properly enforced, and that creators are fairly compensated for their work. At the same time, we see the huge possibilities the live music sector holds, and by focusing on its growth, we aim to complement our already robust digital revenues.”

The CISAC report serves as a reminder that while India’s music industry is thriving, key challenges such as low compliance and a lag in paid subscriptions need to be addressed to ensure sustained growth. Industry stakeholders, music users, and government agencies must collaborate to create a more supportive environment for the music ecosystem.

As the industry moves forward, IPRS remains committed to advocating for creators’ rights and promoting the Indian music industry on the world stage. By addressing the current challenges, the industry can unlock new growth opportunities and ensure that India continues to be a key player in the global music economy.