Category business

New Delhi, February 10, 2023: Sirona is India’s leading FemTech brand that offers innovative period, intimate, and toilet hygiene products. Recently, Sirona Hygiene Foundation, the CSR arm of the company joined hands with DivIn Pro, an impact and strategy-driven contact and support center that works towards empowering marginalized sectors, successfully concluded a menstrual cup awareness drive that impacted the lives of 3100 vulva owners across Uttarakhand and “cupverted” 86% women in the region. The focus of this drive was on sharing knowledge about menstrual hygiene and the benefits of switching to a menstrual cup, followed by the distribution of 3100 free menstrual cups sponsored by Sirona.

This project was one of its kind initiative to reduce period poverty in rural & most difficult terrains of India. The project involved four steps to ensure a high rate of adoption of the cup. Across the state sessions on menstrual health and hygiene were conducted inviting men and health workers as well. Next, hands-on training was given to beneficiaries on using the menstrual cup. The training was followed by the distribution of free menstrual cups. Lastly, follow-up was done physically by local stakeholders and a menstrual cup helpline was activated that offered answers to queries users had related to using cups.

The project, executed over the last year, impacted the lives of more than 3100 vulva owners in 3 districts (Dehradun, Uttarkashi, and Tehri) and 25 villages of Uttarakhand including Dhargaon, Kafolgaon, Dhansani, Lashyangaon, Taluka, Douni, and others. In District Dehradun, the collaboration was done with the Uttarakhand Police Wives Welfare Association and the University of Petroleum and Energy Studies. In District Uttarkashi, the project was done in collaboration with the Department of Women Empowerment and Child Development, and in Tehri District, with Mount Valley Development Association. The project is still active in three districts of Uttarakhand and aims to serve other districts as well this year.

This project was a part of ‘Project Lakhon Khwahishen’ undertaken by Sirona Hygiene Foundation with the aim of ‘cupverting’ one lakh menstruators in India to menstrual cups. The foundation aims to empower women with menstrual cups and offer hygienic and safe menstruation. Divin Pro was the execution partner for trainings, the Menstrual Support helpline, and led the project successfully. The sessions were led by Dr. Aarushi Kehar Malhotra from the foundation highlighting the importance of sustainable menstruation – how it positively impacts lifestyle, substantially reduces sanitary waste generated, impacts the environment positively, and proves to be a highly economical option for period management.

Elaborating on the initiative, Dr. Aarushi Kehar Malhotra, Lead – CSR Initiatives at Sirona said, “Our aim at Sirona is to help every menstruator manage periods safely and with dignity. We do this by not just providing innovative products, but also by spreading education and awareness about why they need to switch to sustainable, cost-effective practices of menstrual hygiene such as menstrual cups. We are continuously working with relevant partners to equip menstruators with the right information on menstrual hygiene and ensure easy access to related supplies.”

Dr. Juhi Garg, Founder-DivIn Pro spoke on the project implementation, “Partnering with Sirona for the project ‘Lakhon Khwahishen’ is part of our vision to fulfill the Sustainable Development Goals (SDGs). We started this project last year and are still continuing the helpline supporting women in hilly areas of Uttarakhand, helping them cope with challenges related to menstruation. Our success rate of “cupverting” menstruators has been highly encouraging and has generated many impact stories. This partnership with Sirona has helped us bring about a significant change in women’s lives and we will continue to work together to sensitize the needs of women in Uttarakhand and beyond.”

Due to poor menstrual hygiene, 40,000 women lose their lives in India. India also has about 60,000 cases of cervical cancer every year with poor hygiene being one of the most common underlying causes. Addressing menstruation is not only an individual issue but is linked to achieving many developmental goals. As a socially conscious organization, Sirona Hygiene Foundation is trying to fill the critical gap of the availability of sustainable material to manage menstruation with project implementation partners like DivInPro. The projects aim at eliminating period poverty while contributing to sustainable development.

Sirona’s soul lies in giving back to society. From initiatives like AAAN that helped sex workers of GB road switch to menstrual cups to contributing a rupee from the sale of every product Sirona sold to the Sirona Hygiene Foundation, the brand undertakes social responsibility initiatives diligently. Sirona so far has donated over 20,000 cups to underprivileged menstruators in an effort to end period poverty under Project Lakhon Khwahishen.

New Delhi, India –KL Deemed-to-be-University, India’s leading University is proud to announce its collaboration with No. 1 radio station of Telangana & Andhra Pradesh Red FM, to celebrate the achievements of those who have overcome adversity to succeed. The special segment “Idi kathakaadu” of the prime-time evening show ‘Full too Bindaas’, will feature stories that showcase the triumph of the human spirit.

The segment will highlight the inspiring journeys of ordinary people who have accomplished great things despite facing great odds. This would include the struggle-winning journey of an individual who succeeds to reach the pinnacle of overcoming challenges and adversities. The show will pay tribute to these heroes who have fought through their struggles to come out on top and can be an inspiration to others.

Dr. G. P. Saradhi Varma, Vice-Chancellor, KL Deemed to be University said, “We are happy to partner with Red FM to recognize the amazing achievements of people. The endeavor acknowledges the tireless determination of people who continue their efforts fighting against all odds to achieve extraordinary goals in life. These real winning stories will not only motivate the listeners but will also connect with the wider audience and society as a whole.” These stories may serve as a dose of inspiration and a reminder that anything is possible with hard work and determination.

By Amit Gupta, MD, SAG Infotech

Many people choose to invest their money in overseas markets as a way to give it global exposure and increase their returns and reduce risk through diversification. However, one should be aware of the tax rules on overseas investment and tax on capital gains from the money invested in foreign markets when looking to diversify their portfolio across geographies.

Tax rules for overseas investment

Though residents in India are allowed to remit up to $2,50,000 per year in the overseas market, they should do it only after due diligence to ensure good returns on their investment. The returns from overseas investments are taxable, so one should consider tax too when planning to invest in foreign equities.

Tax rates on capital gains made from equity shares/companies listed abroad are different from tax rates on domestic (Indian) equities. Apart from the gains made from selling equities, tax is also payable on dividends and rental income from overseas.

Here’s a closer look into the tax bearing on different asset classes overseas, including equity, real estate investment trusts, and the sale of physical properties.

Tax on overseas equities

Direct investment in shares listed in foreign stock exchanges and mutual fund investments in overseas assets fall into this category. Income from both sources is taxable in India and should be reported by residents when filing their annual tax returns.

Tax on long-term capital gains (two years or more) from the sale of foreign equity shares is 20 percent, plus cess and surcharge. The gains made from the short-term sale (less than two years) of foreign equities are taxable at the slab rates of the individual.

As for mutual funds having overseas shares, the threshold for considering an investment long-term is three years, the same as debt funds in India and the returns are taxed at a 20% rate after indexation. Short-term capital gains (less than three years) are taxed at the slab rate. The indexation benefit due to the change in price from foreign to Indian currency is also applicable.

Dividend income earned from foreign equity shares and mutual funds is taxable at the slab rate.

Tax on overseas debt

There are also some overseas fixed-income or debt instruments that Indian residents can invest in and earn interest and capital gains. These include debt mutual fund schemes that invest in overseas markets and stocks.

Tax on foreign debt mutual fund gains is the same as the tax on domestic debt funds. Long-term capital gains (three years or more) from foreign debt funds are subject to a 20 per cent tax, with indexation. Short-term gains are taxable at the slab rate.

Tax on Foreign Real Estate & REITs

If you have invested in real estate in a foreign market either directly (purchase-sale of physical properties) or through REITs, here’s how your gains will be taxed:

Long-term capital gains (two years and more) from the sale of foreign real estate are taxed at a 20% rate after indexation, while short-term gains (less than two years) are taxed at the slab rate. Any rental income from foreign real estate will also be taxed at the slab rate.

If you have invested in foreign REITs, you can make an income through dividends, interest, rental and long and short-term capital gains. Any dividend, rental and interest income made from foreign REITs will be taxed at the slab rate of the individual. Long-term gains (two years or more) from the sale of foreign REITs are taxed at 20%, while any short-term capital gains will be taxed at the slab rate.

When looking to invest in foreign real estate or REIT, one should also know about available tax benefits and rebates. For one, rental income earned from foreign real estate is not eligible for a 30 percent rebate that you can claim on the rental income earned from a property in India. Also, the tax deduction benefits (up to Rs 1.5 lakh on principal and up to Rs 2 lakh on interest) are also not available for loans taken for a property outside India.

Property owners in India can also save tax by using the proceeds from the sale of a residential property to buy another house within a year. This benefit is not available if the proceeds are used to buy property outside India.

Reporting foreign investments in your income tax return

Any overseas investments, including equity, debt, and real estate, must be reported in your annual tax returns, either in ITR-2 or ITR-4. If you are already paying tax abroad on your investments, make sure to fill out the prescribed form 67 to claim a credit for taxes paid overseas.

Mumbai, 10th February 2023: Oberoi Mall, one of the trendiest retail shopping destinations in Mumbai organized a fun-filled event for pooches and pooch parents on 5th February 2023. The mall announced the launch of its Pet’s IP called ‘The Pooch Party’, to bring fur babies and pet parents closer enabling them to play and make new pooch friends. We intend to make it a yearly event that will be solely dedicated to the pooches to spend a fun-filled time at Oberoi Mall with various pet-centric activities.

The Pooch Party had various engagement activities and icebreaker games, along with dog grooming and sessions on nutrition that gave the perfect excuse to get out of the house and have fun with the pets. The highlight of the event was the unique ramp walk that allowed pet parents to flaunt their pets. The occasion also lets paw-rents take the opportunity to express affection and love for their pooches and take the Fur-Fect family picture.

Speaking about the Pets IP, Mr. Sameep Pathak, CEO-Mall, said, “We are happy to launch our Pets IP. The bond between humans and pets is not just good for human health but can also help build community. The thoughtfully curated activities and sessions helped in strengthening pooches and their parent’s connection. It is a pleasure for us to see pooches and pawrents enjoying every bit of their time at our mall and we hope to continue to find various means to strengthen this bond further.”

The purpose of the “Pooch Party” is to lock away the chew toys and provide a special venue for furry friends and pet owners to mingle, celebrate this unique companionship, and strengthen family ties. These kinds of activities also foster relationships, affection for animals, adoption awareness, and the development of a pet-parent community. With initiatives like these, Oberoi Mall takes every opportunity to deliver memorable and unique experiences for its customers.

Patna, February 10, 2023: Fanzart, the pioneer of luxury designer fans in India, has opened its 105th showroom in the country. The showroom is Orion by Jalan Enterprise in the heart of Patna city.

Speaking on the launch of the flagship showroom, Mr. Anil Lala, Founder, and Managing Director, Fanzart said “ It brings me immense pleasure to launch the 105th Fanzart Showroom in India with the most outstanding quality of luxury fans in Patna. We have a great team who works hard towards bringing innovative designs and defining state-of-the-art technology in designer fans.”

Speaking on the market for the luxury product in Patna Ms. Ayushi Jalan, Owner of Orion by Jalan Enterprise said, “We at Orion by Jalan enterprises Patna are a premium electrical product showroom in Patna. With 30 years of trust, we wanted to bring luxury for our customers and Fanzart was just the right brand to associate with. Their quality and designs are impeccable. We are aiming to give the best of the best to the niche clientele here at Patna and Bihar as a whole”.

“Patna has evolved over the last few years as a market with a better appreciation for luxury products, hence we can reach out to our customers with our range of luxury fans”, she added.

Fanzart, which started operations in 2012 has completed 10 years of operation and already has two company-owned showrooms and three franchised outlets in Bengaluru.

The outstanding range of Fanzart luxury designer fans are on display in the showroom with perfect detailing and the right amount of spacing with interiors making the showroom stand out and promises to be a fan connoisseur’s delight.

India-wide release, 9th February 2023: OML Entertainment, India’s market-leading media and entertainment agency, has yet again collaborated with OPPO Mobiles India Pvt. Ltd. to create a digital film for the brand’s newly launched premium smartphone – The OPPO Reno 8T. Through the launch of this smartphone, OPPO positioned Reno 8T as a premium offering in the mid-range segment, making the Reno 8T ‘A Step Above’ the other offerings in this range.

OPPO is well-known for releasing unique unboxing films which always have novel storytelling to offer that stands out and creates an impressive buzz in the media. This time, the smartphone brand has deployed a promotional campaign with the Reno series brand ambassador, Ranbir Kapoor, where he plays himself rather uniquely to cleverly introduce the Reno 8T.

Ranbir is known for the jovial interactions he has with his fans and the paparazzi. The audience has never seen RK act out in any manner. Leveraging this thought, OML strategized the campaign to give the audience a glimpse of the superstar in a never-seen-before persona. The viral video which was a part of the campaign showed RK tossing a fan’s phone after growing impatient while the guy was trying to click a selfie with the actor. This took the audience aback, immediately stirring a controversy where people started asking only one question – “Why did RK throw away his fan’s phone?” However, the full picture was later revealed and the mentioned viral footage appeared to be a cleverly crafted social engineering piece to put the upcoming OPPO Reno 8T smartphone in the spotlight. In the clarification video, Ranbir is seen to be gifting his fan an upgrade of a lifetime with the all-new OPPO Reno 8T and asking him to be ‘A Step Above’ the rest.

After a steady stream of leaks, finally, the official teaser gives the audience a closer look at the device’s design.

To unveil the details and features of the latest OPPO Reno 8T, Only Much Louder (OML) created a unique and captivating 40-second teaser that captures the essence of the premium OPPO Reno 8T, featuring Ranbir Kapoor. RK is seen to reveal the standout features of the Reno 8T in an intriguing manner that definitely engages the audience with its gripping visual scenes. With its slimmest and lightest ever 120Hz 3D curved screen, sharper details with a 108 MP portrait camera and 40X microlens plus backed by a 5000mAh battery with support for 67W SuperVOOCTM, at just Rs. 29,999, the OPPO Reno 8T 5G, strikes the perfect balance between immersive visuals and a relaxed grip for an all-around premium experience and is definitely leaps ahead in the game!

The quirky campaign was conceptualized with the objective to drive high awareness among the audience about OPPO’s latest launch on both digital and traditional mediums. The sole purpose of this campaign was to highlight its major features in an innovative manner in order to establish the Reno 8T as fully loaded and the most accessible Reno. The new campaign of Reno entices the audiences to ‘upgrade’ and be the first buyers of the Reno series. The outcome has seen an outrage in the media with its captivating storytelling which created a bigger impression amongst the audience.

Manav Parekh, Executive Creative Director, OML Entertainment, said, “Ask any creative and they’ll tell you this, having brave clients like OPPO is half the battle won. It was a great experience to work with the team and bring to life the ‘A Step Above’ campaign for OPPO Reno 8T. It is a simple idea that worked beautifully across the three phases. The main film’s narrative, it’s pacing, and of course, Ranbir’s delivery took it to a whole new level. OPPO is a great brand and we at OML are excited to have collaborated with them again in writing another chapter of growth.”

Damyant Singh Khanoria, CMO, of OPPO India, quoted, “OPPO embraces non-traditional marketing ideas that are bold with a narrative that weaves our product story seamlessly. The campaign for the OPPO Reno8T hit the perfect notes. OML answered the ‘time to upgrade’ brief with an outstanding idea that used Ranbir Kapoor cleverly both as a cultural icon and a damn good actor! The scale of the earned media reach is a testimony to a campaign idea that is ‘A Step Above’.”

Bangalore, India, 8 February 2023: Axtria Inc., a global leader of award-winning cloud software and data analytics for the life sciences industry, today announced the winner of the annual Hackathon organized by the Data Analytics Group of IIT Kharagpur. The six-week event attracted nearly 3500 registrants of skills in AI and ML who, in the second round, were offered a challenge to solve a real-world problem of the life sciences and healthcare industry using AI and data analytics models.

More than 3500 candidates registered, 755 teams were shortlisted for the First round- Multiple Choice Questions (MCQ), 77 teams (team size 1-4 members) participated in the problem statement, 11 teams were invited for in-person jury round at IIT Kharagpur. Teams comprised from colleges such as IIT Kharagpur, IIT Varanasi, IIT Kanpur, IIT Dhanbad, IIM-Calcutta, Delhi Technological University, NIT Rourkela, VIT Pune, Jadavpur University, etc.

Eleven teams presented their solutions on January 21, 2023, to the jury comprising Manish Agarwal, Director, and Prakash Singh, Senior Manager, with Axtria’s Decision Science team. Submissions were evaluated based on innovation, real-world implementation, and execution possibilities.

India is a land of talent in STEM but nurturing this talent is important by providing the generation access to education and training in AI and data analytics. This can be done through such programs as coding camps, hackathons, and mentorship opportunities. Additionally, investment in research and development in AI and data analytics in the healthcare industry can provide opportunities to apply their skills in real-world projects. It is also important to make the new entrants understand the criticality of AI and data analytics being used ethically, responsibly, and in a way that benefits patients.

Speaking on the importance of STEM and data science in healthcare and possibilities for young talent from India, Manish Mittal, Head of Global Delivery at Axtria, a global leader of award-winning cloud software and data analytics for the life sciences industry, said, “Axtria is delighted to be associated with the Hackathon event organized by IIT Kharagpur’s Data Analytics team. STEM and data science are the driving forces of the healthcare industry. With the right knowledge and skills, young talent from India has the power to unlock new possibilities and create innovative solutions that can improve the lives of millions.”

The winning team, Lunatic Bytes from IIT Kharagpur, presented the solution’s applicability to real-world problems and the techniques they used to analyze big data effectively. Cash prizes were awarded to the winners and the top two runner-ups.

Joginder Tuteja, Head of Campus Recruitment at Axtria, said, “Axtria has always been supportive of talent and opportunities for people to excel in the field of data analytics and machine learning. IIT Kharagpur has been shaping young minds and molding them for the future. Courses like data analytics and machine learning are what Axtria has been focusing on and has built its business on, as they are the needs of the future. We are delighted to encourage and interact with such brilliant minds.”

Pharma companies are increasingly relying on patient-level data to address patient outcomes and benefits by tracking end-to-end treatment journeys and making informed decisions to ensure the timely availability of medicine. As per a report by Allied Market Research, the global healthcare analytics market size is projected to reach $96.90 BN by 2030. However, the massive volume of unstructured data and the usage of primitive methods of recording these data limits the quality of cure for an existing and a new patient. The hackathon entailed bringing out innovative data science models to solve the problem.

By supporting academic institutes in these events, Axtria endeavors to support youth in sharpening their coding and programming skills and learning possibilities of these skills in the world of healthcare with real impact. The participants of the Axtria-sponsored KDAG Hackathon were required to use innovative coding approaches to analyze a huge volume of unstructured data to bring solutions to support faster decision-making that impacts patient care.

Bengaluru, 2023: PhonePe, India’s largest digital payment company, today announced that it has launched support for ‘UPI international’ payments. This feature allows PhonePe’s Indian users traveling abroad to instantly pay foreign merchants using UPI. The current launch supports all international merchant outlets in UAE, Singapore, Nepal, and Bhutan that have a local QR code. Users will be able to make payments in foreign currency directly from their Indian bank- just like they do with international debit cards. PhonePe is the first fintech app to launch this feature in India.

UPI International is designed to facilitate safe and easy transactions for millions of Indians traveling overseas. Historically, Indian customers needed to use a foreign currency, or their credit or forex cards to pay at international merchant outlets. With this feature, they can now use their Indian Bank account to pay using UPI. Over the course of this year, NPCI in collaboration with NIPL (NPCI International Payments Limited) plans to roll out UPI International to more countries, while also enabling greater merchant acceptance in the regions where this feature is currently live.

Speaking on the development, Rahul Chari, CTO and Co-Founder of PhonePe said, “Over the past six years, all over India we have been lucky to experience the UPI payments revolution transforming our daily lives. UPI International is the first major step in letting the rest of the world experience UPI too. I am sure this launch will prove to be a game-changer and will completely transform the way Indians traveling overseas pay at merchant outlets abroad. PhonePe has always prided itself in being the first TPAP to take new UPI features to the market, and this time is no different. We are glad that PhonePe is leading this change. The entire world needs to experience UPI!”

PhonePe users can activate their UPI-linked bank account for UPI international at the merchant location, or prior to their international trip, via the PhonePe App. The flow is secure and will require the customer to enter their UPI pin in order to activate the service.

New Delhi, 09 February 2023: Shiprocket, India’s leading e-commerce enablement platform, today opens entry for the 4th edition of ‘Aarambh’ – a successful women empowerment initiative. Aligned with its vision of redefining India’s e-commerce industry by enabling MSMEs, Shiprocket’s Aarambh 2023 aims to equip women-led MSMEs with the right resources to build and scale. Starting 8th February 2023, women-led MSMEs would be able to register and nominate themselves for a chance to present to an esteemed jury panel.

Aarambh aims to provide budding women entrepreneurs across the country a platform to prove their mettle. The competition invites several innovative business ideas from women-led SMEs to foster the spirit of business among them. It allows them to turn their ideas into reality and contribute to ‘Bharat Commerce.’ Besides, the event will also offer participants opportunities to network with potential business partners and win several cash prizes.

Speaking on the same, Saahil Goel, Co-Founder & CEO, of Shiprocket, said, “This will be the fourth iteration of Aarambh by Shiprocket following the massive success of the first three editions. It is an absolute delight to witness women entrepreneurs making a significant contribution to the growth and progress over the years in Bharat commerce. I strongly believe that the women of this nation are the greatest untapped reservoir of talent and disruptive ideas. We’re looking forward to Aarambh 2023 and the unique and disruptive ideas that are presented in this edition”

The entries for Aarambh 2023 edition are open now. Shepreneurs can apply for the shortlisting process on the Shiprocket website – shiprocket. in/aarambh-2023/. The shortlisted pitches will get a chance to present their business ideas to the jury panel in a virtual event during International Women’s Week. The top three business ideas stand a chance to win up to INR 1 lakh along with additional benefits from Shiprocket and other sister concern companies.

Last year’s winners were Vidushi Vijayvergiya, Founder of ISAK Fragrances, Rishika Namdev, Founder of Saptamveda, and Kavita Narayanan, co-founder of Trelish.

Mumbai, February 2023

KSH Logistics, one of India’s leading integrated supply-chain logistics solution providers with over two decades of presence in India, reports a growth of 20% in FY 2022 as compared to the same time last year. They plan to further increase this growth percentage and achieve +30% in the year 2023. To achieve the same, the company plans to grow its Multi-Client Facility across the country, standalone warehousing operation, transportation and build on its tech platform.

KSH Logistics opened 1-lakh square feet A-Grade MCF in Bhiwandi, Mumbai last year and has since added over 5 clients from various industries. The company stated that it has devised multiple strategies to expand its transportation business across India, including adding new EVs to its portfolio alongside its existing electric vehicles in Pune. One of their major plans for 2023 is to invest heavily in warehouse automation and technological tools. The company’s enhanced techno-logistics systems enable complete integration of solutions with clients’ ERP systems, providing real-time visibility into the client’s supply chain operations and assisting them in saving up to 10% on operational costs.

Mr. Deepak Tiwari, COO of KSH Logistics, is very pleased with the progress made in 2022. He says, “We have bounced back post-pandemic and focused on our strategies for building a growth-driven, customer-focused technology platform which benefits a wide range of industry verticals. We create customized end-to-end supply chain solutions and offer a one-of-its-kind plug-n-play and pay-per-use model for demand-driven warehousing to businesses of all sizes. This has paid off, and the growth has been tremendous.” He further adds, “We’re fully charged up for an exciting 2023, and aiming for a 30% increase this year. To achieve that, we are building up on our capacity by opening MCFs across India and even adding a range of consultative services for our clients.”

KSH Logistics has over 8,00,000 square feet of dedicated warehousing space and over 3,00,000 square feet of MCF space. KSH Logistics also offers transportation services with live tracking, ePOD, geo-fencing, and other features. KSH serves over 25 global and Indian clientele from a variety of industries, including auto, engineering, consumer durables, retail/e-commerce, and so on.

KSH MCF has both racking and ground storage, as well as modern infrastructure that allows for real-time visibility of the supply chain and complete integration of WMS and TMS solutions with clients’ ERP systems.

Over the next 12 months, the company plans on expanding its MCF network to 6

cities and take up a total area of 7,00,000 square feet with over 10,000 pallets

positions racked and ground storage.

KSH Logistics is also eyeing a large share of the regional business and is working on a solution-based approach to address space-related challenges, and market expansion efforts and to accelerate digital transformation for managing and augmenting supply chain efficiencies.