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National Start-up Day: Vedanta Aluminium fostering a strong start-up ecosystem to Make in India

New Delhi;16th January 2023: On National Start-up Day, Vedanta Aluminium, India’s largest producer of aluminum, announced that it is working with nearly 40 leading technology start-ups, to collaborate with India’s rich start-up ecosystem and power the next phase of its growth journey. The company’s aspiration to be the world’s best and most sustainable aluminum producer is seeing it harness the potential of Industrial Revolution 4.0 and Web 3.0 for manufacturing excellence. Towards making the Aluminium Business a digital-first organisation, the start-ups are working in the areas of value creation, volume growth, cost efficiency, excellence in business, and ESG (Environment, Social & Governance).

This initiative is a part of the company’s Vedanta Spark program, a global corporate innovation & ventures program, which offers venture investing, start-up incubation, pilot programs with start-ups on various business cases, and venture-building programs with various universities to create a pool of new start-ups. From immersive safety training to the just-in-time supply of spare parts through 3D printing, predictive & prescriptive maintenance, asset reliability, and more, the company is deploying emerging technologies such as Artificial Intelligence (AI), Internet of Things (IoT), edge computing, robotics, power electronics, visual intelligence, and additive manufacturing.

Speaking about the initiative Mr. Rahul Sharma, CEO – of Vedanta Aluminium said, “At Vedanta Aluminium, we aim to reimagine the role of entrepreneurship in the manufacturing industry, as a catalyst of innovation. With aluminum fast evolving as the strategic metal for a connected tomorrow, we are poised for exponential growth, with the digital transformation of our plants at the heart of this journey. And therefore, we are working with nearly 40 leading tech start-ups who are bringing in cutting-edge technologies and their global expertise to enhance our agility and competitiveness.”

Pinak Dattaray, Founder & CEO of Ripik.AI, says, “At Ripik.AI, we build proprietary cutting-edge AI-based applications to drive meaningful KPI movement and business benefits. It is a privilege to work with Vedanta’s Aluminium Business, where we worked with the company to leverage the might of AI and improve the efficiency of smelters. We look forward to deepening our relationship with the company and continue to build disruptive products which are pioneers in the aluminum and metals industry, globally.”

Snehendu Mondal, CEO of Satsafeti (Mondal Ventures LLP) added, “As a global industry leader, backed by a culture of innovation and excellence, Vedanta offers significant opportunities for the Indian start-up ecosystem. Satsafeti has partnered with Vedanta to strengthen the company’s safety culture with our state-of-the-art computer vision technology. With this collaboration, we aim to unlock greater value in the business and establish new industry benchmarks in operational excellence.”

In addition, to foster a culture of innovation and infuse design thinking amongst employees to turn them into intrapreneurs, Vedanta Aluminium runs vibrant Innovation Cafés across its business units. The Cafés see employees and business partners come together to pursue passion projects on various business cases and crowdsource internal expertise and solutions for the same.

Parallelly, with operations in rural hinterlands of the country, the company also nurtures a vast ecosystem of rural and micro-entrepreneurs in the regions where it operates. Vedanta Aluminium’s expansive value-chain, customer, and supplier network have fostered thousands of MSMEs, some of whom have also gone on to become suppliers and business partners for the company.

Vedanta Aluminium, a business of Vedanta Limited, is India’s largest producer of aluminum, manufacturing more than half of India’s aluminum i.e., 2.27 million tonnes in FY22. It is a leader in value-added aluminum products that find critical applications in core industries. Vedanta Aluminium ranks 4th in the Dow Jones Sustainability Index (DJSI) 2021 world rankings for aluminium industry, a reflection of its sustainable development practices. With its world-class aluminium smelters, alumina refinery, and power plants in India, the company fulfills its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow.

Sujata

January 16, 2023
Cosmo Films participating in PlastIndia, Label Expo, Gap Expo etc.

New Delhi, January 16, 2023: Cosmo Films, a global leader in specialty films is all set to participate in the 11th edition of PLASTINDIA 2023 from 1st to 5th February 2023 at New Delhi and Label Expo from 9th – 11th February at Bangkok respectively. It has also recently participated in Gap Expo in Bangladesh and going to participate in many other exhibitions during the year. Key industry players across the world will participate in the exhibition with the aim to showcase their existing range of products and services, tap into industry opportunities and trends, and network with the world’s leading suppliers and industry experts.

Cosmo Films will be showcasing their entire range of products from flexible packaging including label, lamination, packaging, synthetic paper, and industrial films, along with their newly launched products – PET-G shrinks label films and Cosmo Plastech (Containers) as well as Adhesives (Flexible Packaging and Lamination). Focusing on innovation, sustainability, and growth while facilitating modern techniques, the exhibition intends to encourage advances in the packaging industry and strengthen India’s standpoint as a global sourcing hub for packaging.

Cosmo Films understands the importance of sustainable and efficient packaging in today’s market and is proud to offer solutions that not only protect and preserve products but also reduce environmental impact. Their team of experts will be available at the exhibition to discuss custom packaging options and answer queries from visitors and delegates.

Sharing his thoughts on the same, Mr. Pankaj Poddar, Group CEO, of Cosmo First said, “Sustainability has been at the core of our innovative approach. Our newest products like PET-G shrink label films and Cosmo Plastech (Containers), have been conceptualised keeping the needs of the industry, consumers, and the planet in mind.”

Sujata

January 16, 2023
Top 5 Tips on How Organisations Can Support Employees to Tackle Mental Health Issues

Delhi, 16th January: Blue Monday, which falls on the 16 January this year, is often recognised as the most depressing day of the year and a difficult time for many. Those that are facing the winter months, with colder weather and shorter daylight, may be susceptible to experience Seasonal Affective Disorder (SAD). With The World Health Organization reporting that 15% of working-age adults live with a mental disorder and twelve billion working days are lost every day to depression and anxiety alone1, ill-mental health is a topic that cannot be overlooked. International SOS highlights the importance for organisations to recognise the impact this can have on their employees and take steps to protect and promote the mental health of their workforce.

Dr Rodrigo Rodriguez-Fernandez, Global Health Advisor, Wellness & Mental Health at International SOS, says “Following the excitement of the holiday season, it is normal for many to feel a little down at this time of the year and have a difficult time adjusting to the return to work. Some may have experienced family and financial pressures over the festive period, as households cope with rising energy bills, mortgages, and inflation. Within a similar vein, the International SOS Risk Outlook 2023 report reveals that the cost-of-living pressures will be most likely to have a negative effect on mental health and productivity in the next 12 months.”

Work can be a protective factor for mental health, but it can also contribute to worsening mental health. Without effective support from employers, mental health issues can impact employees’ ability to work productively and increase absences. A workplace culture which focuses on preventing mental ill-health and promotes self-care is invaluable for employees.

Dr Rodriguez-Fernandez adds “Organisations are now recognising the increased need to focus on mental health.2 Creating working conditions in which an individual employee can enhance their skills to improve mental wellbeing and having initiatives in place to prevent mental ill-health are key. However, employers should know that employees may often feel reluctant to discuss their mental health issues with their colleagues and manager they work with. To counter this, it is important for organisations to offer a range of tailored solutions that meet each employee’s different needs and expectations. Mental health and wellbeing support such as one on one short-term counselling, having wellbeing days at work, 24/7 wellbeing hotline and stress awareness training are found to be valuable to employees.3”

To help organisations support the mental health of their employees during what can be a challenging time for some, International SOS shares below expert tips:

1. Create an emotionally open culture and encourage open communication – create a safe space for employees to talk about their mental health and wellbeing. Encourage them to speak up if they are feeling overwhelmed or struggling.

2. Promote self-care – provide resources on self-care practices such as exercise, healthy eating, and stress management techniques. Allow and encourage employees to take regular breaks within the workday to get fresh air and stretch.

3. Provide flexibility – in terms of working hours and location to help employees balance their work and personal lives based on individual needs.

4. Ensure that employees know that they are not alone – encourage them to make use of any mental health resources and support available, such as counselling or employee assistance programmes.

5. Focus on upskilling line managers with mental wellness training or mental health first-aid training – to recognise the signs of mental health issues and how to support employees who may be struggling.

Neel Achary

January 16, 2023
Piaggio Vehicles solidifies its 3-Wheeler EV leadership positioning in India as it delivers more than 10,000 3-Wheeler EV in CY 2022

Pune, 16th January 2023: Piaggio Vehicles Pvt Ltd (PVPL), a 100 % subsidiary of the Italian Piaggio Group and India’s leading manufacturer of small commercial vehicles as well as pioneers in 3-wheeler electric mobility recently achieved the significant milestone of delivering over 10,000 EVs in CY 2022.

Piaggio Vehicles pioneered the 3-Wheeler commercial EV industry and introduced to India its first commercial 3-wheeler electric vehicle, Apé Electrik in 2019. Since then PVPL has maintained a dominant market leader position in the L5 category with over 40% market share. Apé Electrik offers the largest range of products within the electric 3W range in the industry in both, fixed and swappable battery solutions.

Speaking about the milestone, Mr. Diego Graffi, Chairman and Managing Director, of Piaggio Vehicles Pvt Ltd said, “India’s acceptance and rate of adoption of EV technology have been tremendous. Over the last three years, we have established that the benefits of switching to 3-Wheeler EVs are immense and it reaps maximum savings for entrepreneurs and B2B businesses. Our 3-Wheeler EV product prowess ensures we set industry benchmarks as we continue to make significant contributions to India’s EV infrastructure. Delivering over 10,000 Apé Electrik vehicles is a momentous feat and I look forward to delivering over 20,000 in 2023.”

Sujata

January 16, 2023
Les Petits exclusively launches a range of premium collections from the house of Dolce & Gabbana and Dwinguler

New Delhi, 16th January 2023: Les Petits, the luxury fashion brand for kids, has come up with a premium collection from the house of Dolce & Gabbana and Dwinguler. The collection from the brands will be available only on the Les Petits platform which reserves the exclusive rights to offer the collection in India. Rising to prominence for offering diverse kids’ luxury products from the leading international brands under a single roof, the brand for the very first time launches Dwinguler to the Indian market.

Striving to create an end-to-end shopping destination for luxury kids’ products, onboarding Dwinguler expands the offering of Les Petits entailing sofa, mat, and castle that piques the interest of children with intriguing designs and patterns. Serving as furniture for kids, the products brace functionality that bodes well for translating into a playground for children. The range from Dwinguler manifests a strong fence for the child to carry out their adventures and activities within the gamut of safe space.

At the same time, the offering from Dolce & Gabbana explores opulence with its sheer unconventional, and luxurious collection. It brings a distinct style to life that echoes the designer’s tryst with elaborate patterns to create a statement even when the kids don their most casual looks. The collection consists of dresses, track pants, shoes, etc. that are sure to attract the eyeballs with unique designs.

On the occasion, Ms. Swati Saraf, President, Les Petits said, “We at Les Petits are continually driven by the desire to amp up our offering in the kids’ segment. With the launch of Dwinguler we aspire to be a part of the growing years of a kid by providing them with a strong fence to indulge in their playful activities. It allows them to carry on their fun by rolling, running around, etc. in a carefree way without the lingering fear of getting hurt. The products are utilitarian at the same time, for example, the sofa while being attractive is ergonomically designed to promote good posture in children. Bringing Dwinguler was a conscious decision as it vouches for safety and amplifies the aesthetics of the room while providing a playing terrain for children.”

Les Petits has also come up with an End Of Season Sale for their customers. The brand is offering a discount of 25% on all apparel & accessories for the available stock, starting 16th January onwards. (T&C apply).

The sale is on brands like Versace, Fendi, Dolce & Gabbana, Givenchy, Moschino, Stella McCartney, Kenzo, Mayoral, Rang, and Stella Rossa, available at Les Petits.

The collection is exclusively available on the brand’s website and its stores at:

1) Phoenix Palladium (Mumbai)

2) DLF Emporio, Vasant Kunj, New Delhi

3) DLF Avenue, Saket, New Delhi

Neel Achary

January 16, 2023
Gari network, 2nd biggest project on the Solana blockchain crosses the historic milestone of 2 million token holders

Bengaluru, 16th Jan, 2022: The world’s largest social token, Gari has crossed the mark of 2 million token holders in just eleven months of its integration into Chingari, the world’s leading web3 short video app with over 170 million downloads. The massive jump has propelled the Gari token to the second-largest project on the Solana blockchain in terms of the number of token holders. It is to be noted that 100,000 new token holders were added to the Gari network in just the last 10 days

As part of the Gari Mining program, users and creators are rewarded with GARI for viewing, commenting, and uploading videos on Chingari’s app. Gari is Chingari’s native crypto token.

Since its launch in February 2022, the Gari crypto token has gained a great deal of community support and attracted 600k token holders within three months. By July 2022, 700k users had signed up for the Gari wallet. With the number of token holders continuing its upward trend, 1 million token holders were registered on August 2, 2022, and now it has surpassed the 2 million milestones.

Commenting on the milestone, Sumit Ghosh, CEO and Co-Founder, Chingari said, “The 2 million user milestone is a testament to continuous adoption of the Chingari app amongst the new users. With the launch of our initiatives like video NFT Marketplace, subscription plans, audio rooms, and GARI Mining, users now have now access to a wide range of options to monetize their content. We are passionate about enabling users and creators to benefit from the new tokenized economy, and Gari is at the core of our efforts. We are looking forward to the next phase of growth, as we plan to onboard the first 1 billion crypto users on the Chingari platform.”

Neel Achary

January 16, 2023
AVEVA spotlights benefits of industrial digital transformation for a low carbon world at WEF 2023

Peter Herweck, CEO, AVEVA

Mumbai, India, 16 January 2023 – Peter Herweck, AVEVA CEO, will participate in the World Economic Forum 2023 (WEF 2023) in Davos, Switzerland to promote a sustainable industrial digital transformation in support of a lower carbon, socially just world.

“AVEVA’s software has played an active role in accelerating the sustainability transition for industrial businesses for many years. At Davos this year, I look forward to meeting with government, business and civic leaders to discuss how global partnerships – including between the public and private sector – can deliver systematic and sustainable use of the world’s resources and achieve a more equitable future for us all,” said Peter Herweck.

At WEF 2023, where the theme is “Cooperation in a fragmented world”, Herweck will alongside strategic partner Schneider Electric discuss the crucial role of digital transformation for the energy transition and shed light on how the industrial metaverse will drive sustainable innovation at scale. He will also take part in meetings organized by the WEF’s First Movers Coalition and the Alliance of CEO Climate Leaders as AVEVA is a member of both initiatives.

According to the WEF’s Global Risks Report in 2022, government and business leaders rank climate action failure as the number-one long-term threat to lives and livelihoods.

“Digital transformation has repeatedly proved its role in building resilience and agility for large government organizations and small start-ups alike. But its capabilities go much further.

“We are now in the middle of what the United Nations calls a critical decade of action. To achieve a more equitable, net-zero world, we must align our business strategy to the low- carbon transition and accelerate climate action through core business activities,” Herweck
said.

“Fourth Industrial Revolution technologies such as artificial intelligence, data sharing and the industrial metaverse are essential to accelerating the development of climate-positive industries of the future. AVEVA’s solutions, sited at the nexus of the digital and sustainability revolutions, are perfectly poised to deliver the low-emission value chains that are essential to capitalizing on the green growth opportunities ahead of us,” Herweck added.

The WEF will be held in Davos, Switzerland from January 16 to 20, 2023. The annual meeting brings together more than 2,000 leaders and experts from around the world with a view to improving the state of the world.

Rekha Nair

January 16, 2023
Indian startups need to reserve cash, listen to customers to stay afloat [details]

Indian startups take 5 years to scale from zero to $100 mn; took 18 years in 2000

As Indian startups face turbulence in the global funding winter, experts on Monday said they need to reserve cash, create a long-term goal and adopt a culture of customer feedback to survive in 2023.

On the occasion of the ‘National Startup Day’, envisioned by Prime Minister Narendra Modi last year, industry experts said that the founders must continuously monitor the trends which are happening in the world.

Indian startups fired more than 18,000 employees in 2022 amid a funding winter and macroeconomic uncertainty.

“Investing in R&D can be one of the finest ways to actually tackle disruption. Make sure that as a business, you keep some of your profits or your balance sheet reserves for investing into R&D to actually learn more,” Dr Ritesh Malik, Director, Alliance for Digital India Foundation, or ADIF, told IANS.

IANS

“If you feel that there is a platform like Instagram where the go-to-market strategy is more efficient, start learning Instagram and start promoting your products there,” he added.

According to Tejas Khoday, Co-Founder and CEO of trading platform FYERS, this year is special as India has emerged to be the third largest startup ecosystem in the world.

“While the past year was turbulent with IPOs of several well-known startups not doing too well, the ongoing funding winter and related layoffs, in the long run, all this will be a blip on the radar,” he said.

That said, this will help the ecosystem to mature and hopefully we will see startups achieve a better balance between scale and profitability in 2023, Khoday noted.

While interacting with over 150 startups, PM Modi last year announced the commemoration of National Startup Day on January 16 every year. The Department for Promotion of Industry and Internal Trade and the Ministry of Commerce and Industry marked an entire week as National Startup Week, from January 10 to 16.

According to Malik, startups must hear back from their customers.

“The more you hear from your customers, the more you will be able to understand their changing needs. And the more your product becomes dynamic and you constantly change that product to the whims and fantasies of the customer,” he noted.

Ravish Naresh, CEO and Co-founder of Khatabook, said that there is a stronger acknowledgment of Indian startups’ role in solving core problems of emerging economies to bridge the socio-economic gaps.

“This year, our primary aim is to turn profitable and scale up the digital lending offerings to meet the unmet credit demand of Indian MSME businesses. We are optimistic about the Indian economy and its opportunities for the startup ecosystem,” he said.

January 16, 2023
Tax-saving techniques for FY23 – Here is what expert suggests

Amit Gupta, MD, SAG Infotech

All taxpayers are mandated to file their Income tax return (ITR). The income tax returns comprise the details about your annual income including the tax liability which is obligated to be paid. The Government of India provides tax rebates along with exemptions under distinct sections of the income tax act 1961. Tax experts recommended five effective tax-saving methods for the Financial year 2023.

Its intent is to motivate people to invest in a bigger form. Various methods are mentioned below that you can comply with to diminish the tax outgo.

TIP 1 • Invest in tax-saving instruments

The government of India on some instruments has permitted some tax deductions on the invested amount, Under section 80C of the income tax act. You are enable to claim for the tax deduction with the highest limit of Rs 1.5 lakh on the investments that would have been made in these instruments.

Some of the tax-saving ways for investment in 2022 are as follows:

● Public Provident Fund (PPF)

● Employees’ Provident Fund (EPF)

● Equity Linked Savings Scheme (ELSS)

● National Pension System (NPS)

● Sukanya Samriddhi Yojana (SSY)

● Senior Citizen Savings Scheme (SCSS)

● Fixed Deposits (FDs) of 5 years or more

As per tax experts, you can save your taxes via doing the investment in the above-stated schemes as well as developing your long-term financial wealth.

TIP 2 • Select the precise tax regime

Currently, for citizens of India, there are two types of tax regimes. While furnishing the return you could opt for any one out of two. Appropriate tax regimes would be vital for securing the max tax savings. An offer for a lower tax rate is provided by the new tax regime but the same does not allow tax deductions. Therefore when you ask for tax deductions under section 80C of the income tax act, you should proceed with the older tax regime, if not you could opt for a new tax regime for diminishing your income tax. An online income tax calculator could support you in finding out the difference between the new and old tax regimes.

TIP 3 • Buy health insurance for yourself and your family

You can also save the tax by purchasing health insurance policies for yourself including your family. An assessee is empowered to claim a deduction of up to Rs 25,000 for paying the health insurance premiums for themselves including their spouses, and children as per Under section 80D of the income tax act. Under that section as a taxpayer, a senior citizen could claim a tax deduction with a limit of up to Rs 50,000. When you purchase health insurance for your parents, you can save another amount of Rs 50,000.

TIP 4 • Avail of the tax advantages on home loan

You are eligible to claim the deductions related to your loan interest and principal amount if you had taken a home loan via any bank or non-banking financial institution. Under section 24, the statute allows for the highest deductions of Rs 2 lakh concerned with the home loan interest and Rs 1.5 lakhs under section 80C of the income tax related to the home loan principal.

TIP 5• Income tax return filing within stipulated durations

Every year an individual or a company is required to file the ITR prior to the 31st of July or the date mentioned by the income tax department. A penalty shall be imposed when you are unable to file the income tax return as per the stated due date. Filing the income tax return within the mentioned last date is vital for other purposes also such as availing of a home loan applying for immigration documents, doing a transaction of higher value, etc.

For saving tax different people invest in tax-saving policies at sudden in the finish of the financial year. However, it would be directed to the loss of the major purpose of allowing these deductions for encouraging individuals to do the investment for the forthcoming time. Therefore the effective time to invest in the tax saving schemes would be at the start of the financial year. Through various tax-saving modes, you are able to invest regularly for securing taxes and build your wealth. Hence concluding here you should learn about the best tax-saving investment schemes and must do investments in merely those kinds of instruments that are relevant to you.

Sujata

January 16, 2023
Quote for National Startup Day | Rahul Raj, Co-Founder & CEO, FloBiz

“India has the third-largest startup ecosystem globally, with about 60,000 startups contributing heavily to the Indian economy and SaaS (software as a service), FinTech, and D2C brands counting as emerging businesses. Tech adoption is booming in every corner of the country, and every type of business, including MSMEs, is riding on the waves of digitization to sustain and scale their business. It’s a great time to be in the industry, especially when your start-up can contribute to the mission of a truly Atmanirbhar Bharat by supporting MSMEs.

The celebration of National Startup Day acknowledges startups’ contribution to the country’s economy. It gives wings to the growing startups and motivates all the innovative youth of our country to start something of their own- providing a platform for entrepreneurs to discuss the importance of entrepreneurship and innovation to India’s youth and economy.”-Rahul Raj, Co-founder & CEO:

Sujata

January 16, 2023