Narendra Modi launches India’s first indigenously-built hydrogen-powered ferry Photo Courtesy: Cochin Shipyard Limited X web page video seize
Indian PM Narendra Modi on Wednesday (February 28, 2024) just about inaugurated India’s first indigenously developed and constructed hydrogen gasoline cell ferry in Kerala’s Kochi metropolis.
The vessel was constructed on the Cochin Shipyard.
— Ministry of Ports, Shipping and Waterways (@shipmin_india) February 28, 2024
The pilot vessel is a 24-metre catamaran which may carry 50 passengers with absolutely air-conditioned passenger area. It will make city mobility clean and simple, in accordance with a launch issued by Cochin Shipyard Limited (CSL).The pilot vessel is a 24-metre catamaran which may carry 50 passengers with absolutely air-conditioned passenger area. It will make city mobility clean and simple, in accordance with a launch issued by Cochin Shipyard Limited (CSL) as quoted by The Hindu.
Cochin Shipyard Limited posted on X: “Today marks a historic second because the first INDIGENOUSLY BUILT HYDROGEN FUEL CELL VESSEL constructed by CSL beneath @shipmin_india flagged off by Hon’ble Prime Minister. #HydrogenVessel #greenEnergy.”
Modi launched the vessel throughout an occasion held in Tamil Nadu.
Modi laid the inspiration stone and devoted to the nation a number of growth initiatives value greater than Rs 17,300 crores in Thoothukudi area of Tamil Nadu.
The Prime Minister laid the inspiration stone of Outer Harbor Container Terminal at V.O.Chidambaranar Port. The Prime Minister additionally launched India’s first indigenous inexperienced hydrogen gasoline cell inland waterway vessel beneath the Harit Nauka initiative.
He devoted vacationer amenities in 75 lighthouses throughout 10 States/UTs.
He additionally devoted to the nation, rail initiatives for doubling of Vanchi Maniyachchi – Nagercoil rail line together with the Vanchi Maniyachchi – Tirunelveli part and Melappalayam – Aralvaymoli part. The Prime Minister devoted 4 highway initiatives in Tamil Nadu, developed at a complete value of about Rs 4,586 Crore.
Talking about India’s first hydrogen gasoline cell inland waterway vessel beneath the Harit Nauka initiative, PM Modi referred to as it a present of the individuals of Tamil Nadu for Kashi.
He mentioned that he witnessed the passion and affection of the individuals of Tamil Nadu in Kashi Tamil Sangamam.
The Prime Minister inaugurated numerous different initiatives aimed toward making the V.O.Chidambaranar Port the first Green Hydrogen Hub Port of the nation.
These initiatives embody a desalination plant, hydrogen manufacturing, and bunkering facility.
“Tamil Nadu will go a great distance with regard to the options that the world is exploring as we speak”, he mentioned.
India’s promising Unified Payment Interface (UPI) providers had been launched in Sri Lanka and Mauritius on Monday in the digital presence of PM Narendra Modi.
India’s UPI service launched in Mauritius, Sri Lanka immediately in the digital presence of PM Narendra Modi. Photo Courtesy: Unsplash
RuPay card providers had been additionally launched in Mauritius.
Apart from Modi, the occasion was additionally attended by Sri Lankan President Ranil Wickremesinghe and Mauritius PM Pravind Jugnauth.
Pravind Jugnauth stated co-branded Rupay playing cards can be designated as home playing cards in Mauritius.
What did Indian PM Narendra Modi say throughout the occasion?
Underlining that fintech connectivity will additional strengthen cross-border transactions and connections, Modi stated: “India’s UPI or United Payments Interface comes in a brand new position immediately – Uniting Partners with India.”
Speaking in regards to the comfort and pace of UPI transactions, the Prime Minister knowledgeable that greater than 100 billion transactions occurred through UPI final 12 months value Rs 2 lakh crores or 8 trillion Sri Lankan rupees or 1 trillion Mauritius rupees.
The Prime Minister additionally talked about making last-mile supply by the GEM Trinity of financial institution accounts, Aadhar and cell phones the place Rs 34 lakh crores or 400 billion US {dollars} has been transferred into the financial institution accounts of beneficiaries.
Modi knowledgeable that with CoWin Platform India performed the world’s greatest vaccination programme.
“Use of know-how is selling transparency, decreasing corruption and growing inclusivity in society”, the Prime Minister stated.
The Prime Minister expressed the boldness that reference to UPI will profit Sri Lanka and Mauritius and digital transformation will get a lift, native economies will witness constructive change and tourism can be promoted.
“I’m assured that Indian vacationers will give precedence to locations with UPI. People of Indian origin dwelling in Sri Lanka and Mauritius and college students finding out there can even get particular advantages from it”, the Prime Minister added.
PM Modi expressed delight that after Nepal, Bhutan, Singapore and UAE in the Gulf in Asia, now from Mauritius RuPay card is being launched in Africa.
Indian President Droupadi Murmu meets Hasan Mahmud. Photo Courtesy: Indian President X web page
Indian President Droupadi Murmu has mentioned she feels a stable and affluent Bangladesh is in India’s interest and hopes that the neighbouring nation will obtain new milestones of progress and prosperity beneath its PM, Sheikh Hasina’s, management.
Hasina returned to energy for an additional time period after her Awami League gained the overall polls final month.
Murmu made the feedback throughout her assembly with visiting Foreign Minister of Bangladesh Dr Hasan Mahmud on Friday.
Dr Hasan Mahmud, Foreign Minister of the People’s Republic of Bangladesh referred to as on President Droupadi Murmu at Rashtrapati Bhavan. The President mentioned that a robust, stable and affluent Bangladesh is in India’s interest, and there is immense political will on either side to see… pic.twitter.com/1sPDObGl3O
“Welcoming Dr Mahmud, the President conveyed felicitations to Prime Minister Sheikh Hasina for her unprecedented fourth consecutive time period as Prime Minister of Bangladesh,” learn the Indian President’s web site.
The President expressed satisfaction on the progress made in nearly all areas of bilateral cooperation, resembling border and safety, commerce, connectivity, energy, infrastructure, people-to-people contacts, amongst others.
She famous that either side have been reviving rail, street and waterways that historically linked the folks and economies on either side, and are additionally concurrently creating new connectivity hyperlinks.
Mumbai, ninth February 2024– Hosted by Kids Education Revolution (KER), Teach For India’s international platform for student management, the Revolutionary Retreat is a one-of-a-kind house for like-minded and passionate student leaders to return together as a neighborhood and dream about a greater world. It is an area for college students across the nation to replicate on their very own management, construct the talents they should drive sustainable affect, and be part of a motion of leaders who’re reimagining schooling by means of community-level options for change.
This yr, the 3-day Revolutionary Retreat introduced together over 150 college students and educators from across India, and overseas (Malaysia, New Zealand, and Kazakhstan), at Rambhau Mhalgi Prabodhini in Bhayander, Mumbai.
KER Revolutionaries, or contributors, are college students who come from various backgrounds engaged on a variety of changemaking tasks, coming together to develop and strengthen their dedication to self, others, and India. Through immersive studying experiences, collaborative areas, and reflective actions, college students embark on a private management journey that’s rooted within the concept of constructing energetic citizenship and giving again to the neighborhood. The Revolutionaries on the retreat are guided by student mentors, who’re paying it ahead by serving to a brand new set of scholars develop into empathetic, empowered, and assured young leaders. Anisha Ansari, a student mentor, shared, “It is a strong factor to see college students studying from one another, and serving to one another develop. I really feel like I’m a part of a neighborhood that’s working in the direction of the identical purpose – to construct a greater India”.
At this yr’s retreat, college students engaged in classes that constructed their understanding of design pondering and collective management, in addition to of Teach For India’s framework of the 8Cs – braveness, compassion, consciousness, communication, essential pondering, creativity, collaboration, and curiosity. Through hands-on actions that inspired youngsters to consider essentially the most urgent points that affect them and their communities, by means of experiential studying areas that deepened their understanding of India’s Constitutional Values and the function that they play in upholding them, and by means of a stimulating publicity go to to Mumbai’s Museum of Solutions – the young student leaders explored concepts of social justice, inequality, gender, discrimination, setting, and rather more.
Shaheen Mistri, Founder and CEO of Teach For India, led a session the place college students explored “India and the World”, fascinated with youngsters in battle zones, and the function that every of us can play in constructing a world that’s protected, equitable, and simply. Through the facility of artwork, expression, and collaborative pondering, she led college students to create an enormous mandala as a logo of peace and solidarity, that represented the thought of rebuilding and reimagining the world that our youngsters are rising up in.
The sixth version of Revolutionary Retreat concluded with a screening of the Conference of the Birds Film – a feature-length movie based mostly on Teach For India’s musical, that takes the viewers on a journey by means of the valleys of Justice, Equality, Liberty, and Fraternity, in the hunt for the true that means of India. As college students and educators watched this exploration of India’s values together, and mirrored on their understanding of our Constitution, the facility of partnership between college students and educators was highlighted as soon as once more.
This yr, the Retreat introduced together KER Revolutionaries who’re engaged on change tasks exploring themes like gender equality, entry to schooling, psychological well being and wellness, expression by means of artwork, and extra – whereas additionally inviting educators and lecturers who’re partnering with college students to create protected areas, amplify student voices, and develop holistic studying experiences. Through a course of that’s grounded within the apply of reflection, listening, collaboration, and motion, the Retreat sparked the need for change in lots of young leaders and educators who’re in our lecture rooms right now.
India’s cybersecurity crisis: A deep dive into 2023 dyberattacksReuters
The digital age, while bringing about unprecedented advancements, has also given rise to a new form of crime: cybercrime. A recent report has shed light on the alarming rise of this digital menace in India. In 2023, nearly two in five, or 33%, of web users in India were victims of Internet-born cyberattacks. This statistic underscores the urgent need for robust cybersecurity measures in the country.
Global cybersecurity company Kaspersky detected and blocked a staggering 62,574,546 Internet-borne cyberthreats in India alone. The increasing sophistication of these cyberattacks is a cause for concern. “With the world moving towards AI and other next-gen technologies, we expect the fraud and scamming scenarios to get more intricate and challenging to detect,” said Jaydeep Singh, General Manager for South Asia at Kaspersky.
Singh urged Indian users to install security solutions on their devices to protect themselves from these web attacks. The report also highlighted the most prevalent methods of web infection: cyberattacks via browsers and social engineering.
According to SurfShark, ten data leaks occurred every minute, unveiling the profound challenges embedded within the nation’s digital infrastructure. This marked a concerning 56% surge in data breaches compared to the previous year, signifying a pressing need for fortified digital defenses.
Despite global strides, India witnessed a distressing tally of 5.3 million leaked online user accounts, magnifying the urgency for enhanced cybersecurity measures.
The Mechanics of Cyberattacks
Cybercriminals often exploit vulnerabilities in browsers and their plugins to penetrate user systems. Users are typically attacked when they visit an infected website. This can result in the download of harmful file-less malware, often without the user’s awareness or action.
Another popular web threat in India and globally is social engineering. This involves manipulating the user into downloading a malicious file, thereby granting control of the system to the criminal. Cybercriminals often trick their victims into thinking they are downloading a legitimate application or program. Once the user downloads the program, the criminals control the victim’s device and use it for malicious purposes.
India’s cybersecurity crisis: A deep dive into 2023 dyberattacksReuters
“Since many threat actors nowadays conceal malicious code to bypass static analysis and emulation, advanced technologies such as proactive Machine Language-based methods and behaviour analysis are used to fight this type of threat,” Singh added.
Historical Precedents and Future Threats
Historically, similar events have occurred worldwide, underscoring the global nature of the cybercrime problem. For instance, in 2017, the WannaCry ransomware attack affected organizations in over 150 countries, causing significant disruption, particularly to hospitals. More recently, in 2023, the U.K.’s Royal Mail fell victim to a ransomware attack that encrypted crucial files, preventing international shipments for six weeks.
In the face of such threats, experts recommend several strategies to enhance cybersecurity. These include creating strong and unique passwords, keeping software updated on all devices, using multi-factor authentication for remote services, and choosing a proven endpoint cybersecurity solution for business equipped with behaviours-based detection and anomaly control capabilities.
However, it’s not just large organizations at risk. Cybercriminals can use any internet-connected device as a weapon or a target, and small and medium-sized businesses (SMBs) often deploy less sophisticated cybersecurity measures, making them vulnerable to potential security incidents.
The rising tide of cyberattacks in India and globally underscores the urgent need for robust cybersecurity measures. As technology continues to evolve, so too will the methods employed by cybercriminals. It is incumbent upon individuals, businesses, and governments to stay one step ahead, implementing robust security measures and fostering a culture of cybersecurity awareness to safeguard against these ever-evolving threats.
Highlights
In 2023, 33% of web users in India fell victim to cyberattacks, highlighting the need for robust cybersecurity.
Kaspersky blocked over 62 million cyberthreats in India, with cyberattacks becoming increasingly sophisticated.
Cybercriminals exploit browser vulnerabilities and use social engineering to gain control of user systems.
Historical cyberattacks, like the WannaCry ransomware and the Royal Mail incident, emphasize the global nature of the problem.
The rise in cyberattacks necessitates strong cybersecurity measures, especially for small and medium-sized businesses.
The just lately concluded United Nations Climate Change Conference (COP28) famous that events have been off observe in assembly their Paris Agreement targets. To sustain with its settlement of “starting of the top” of the fossil gasoline period, it known as upon the events to triple their renewable energy capability and double energy effectivity enhancements by 2030. However, one shiny spot was India, who has been a shining instance regardless of the apparent constraints of reliance on fossil gasoline for a quickly increasing financial system, particularly on condition that the country’s energy consumption per capita is a 3rd of the worldwide common.
Wind energy derived from windmills is a crucial supply of renewable energy in India. Photo: Screengrab from YouTube.
In this backdrop, India will host the second version of India Energy Week (IEW) in Goa, India from February 6 to 9, 2024.
India may have argued that the Paris settlement targets have been unfair because it solely emits 4 p.c of the worldwide carbon emission whereas housing 17 p.c of the world’s inhabitants. Instead, the country has gone forward and achieved a strong renewable capability addition in a brief span.
Consider the numbers: at the top of 2016, India’s whole wind and photo voltaic capability stood at about 37 GW, with photo voltaic contributing nearly 9 GW. In about seven years, the mixed photo voltaic and wind energy capability has risen to over 116 GW, a three-fold leap.
Even extra remarkably, solar energy installations have jumped a large 8-fold throughout the identical time. Overall, India’s whole non-fossil energy era capability, which incorporates hydroelectric era, quantities to 186 GW. This accounts for practically 44 p.c of the overall put in capability.
Speaking at the inauguration of COP 28, Indian’s Prime Minister Narendra Modi briefly laid out the country’s achievements: “We have already achieved the targets associated to emissions depth eleven years in the past. We have achieved non-fossil gasoline targets 9 years forward of schedule.”
Modi emphasised on India’s intention to consolidate the renewable capability addition trajectory. “And India has not stopped at this. Our goal is to scale back emissions depth by 45 p.c by 2030. We have determined that we are going to improve the share of non-fossil gasoline to 50 p.c. And, we can even proceed to transfer in the direction of the objective of internet zero by 2070,” the Indian Prime Minister stated.
Success story pushed by the non-public sector
The renewable success story has many elements, however primarily it has been pushed by a vibrant non-public sector participation that has ensured inexpensive energy. Another issue that has aided this development is quick-footed policymaking to tide over a number of challenges.
A current instance of decisive governance is India’s pivot to incentivise manufacturing of photo voltaic photovoltaic modules, for which the country particularly, and the world in common, have largely been depending on China. India was fast to take the cue in the aftermath of the Covid pandemic, which disrupted the normal provide chains and muddied the geopolitical local weather.
India launched a performance-linked incentive scheme to increase home manufacturing of photo voltaic modules of greater than 48 GW capability.
Moreover, the huge country, blessed with ample photo voltaic radiation, has additionally innovated to carry the farmers into the scope of solar energy by way of authorities schemes incentivising photo voltaic pumps.
India has ensured that its solar energy initiatives aren’t restricted to mega photo voltaic parks — that are simpler to implement due to assured offtake of energy. But it has laid equal emphasis on off-grid methods and rooftop photo voltaic to broad base using solar energy and develop a sustainable home provide chain.
The strategy is exemplified by the proposed mega renewable park (13 GW) plant in the excessive altitude Himalayan area of Ladakh, for which India has introduced over USD 2 billion investments in evacuation infrastructure.
A home in Surat, Gujarat, India utilizing photo voltaic panel to generate electrical energy. Photo credit score: Unsplash.
Additionally, the country’s ecosystem is constantly trying at methods to tide over the intermittency of renewable sources and has devoted substantial assets to creating long-term battery energy storage capability.
India Energy Week 2024
Organised by the Federation of Indian Petroleum [FIPI] Industry beneath the aegis of the Ministry of Petroleum and Natural Gas, Government of India, India Energy Week (IEW) serves as a catalyst for significant discussions, information trade, and collaboration amongst trade consultants, coverage makers, academia and entrepreneurs.
The occasion goals to foster partnerships, drive innovation, and discover options that may propel India’s energy sector right into a sustainable and vibrant future.
India Energy Week 2024 is anticipated to draw over 35,000+ attendees, 350+ exhibitors, 400+ audio system and 4,000+ delegates from over 100 nations.
IEW will host an intensive array of exhibitors, spanning core oil subject companies to enrich the occasion’s dynamic environment.
During IEW 2024, ministerial, management and technical classes and roundtables will discover various themes like energy transition of the worldwide south, constructing a future prepared energy stack, chartering the roadmap of alternate fuels for energy optionality and affect of localisation, regionalisation and globalisation on energy associated industrialisation and manufacturing processes.
LK Advani conferred with Bharat Ratna. Photo Courtesy: Narendra Modi X web page
Prime Minister Narendra Modi on Saturday (February 3, 2024) introduced that Bharatiya Janata Party (BJP) co-founder and the Ram Mandir agitation face, LK Advani, shall be conferred Bharat Ratna, the highest civilian award within the nation.
In an extended X submit, Modi on Saturday shared just a few footage with Advani, the longest serving BJP president and an ex-Deputy Prime Minister, and mentioned it was an emotional second for him.
His X submit reads, “I’m very blissful to share that Shri LK Advani Ji shall be conferred the Bharat Ratna. I additionally spoke to him and congratulated him on being conferred this honour. One of probably the most revered statesmen of our instances, his contribution to the event of India is monumental.
“His is a life that began from working on the grassroots to serving the nation as our Deputy Prime Minister. He distinguished himself as our Home Minister and I&B Minister as effectively. His Parliamentary interventions have at all times been exemplary, stuffed with wealthy insights.”
The Prime Minister added, “Advani Ji’s decades-long service in public life has been marked by an unwavering dedication to transparency and integrity, setting an exemplary customary in political ethics.
“He has made unparalleled efforts in direction of furthering nationwide unity and cultural resurgence. The conferring of the Bharat Ratna on him is a really emotional second for me. I’ll at all times take into account it my privilege that I acquired numerous alternatives to work together with him and study from him.”
What did LK Advani say?
“With utmost humility and gratitude, I settle for the Bharat Ratna that has been conferred on me at the moment,” he mentioned in an announcement as quoted by Press Trust of India quickly after Prime Minister Narendra Modi introduced his identify for the nation’s highest civilian honour.
Expressing heartfelt gratitude to tens of millions of BJP employees, RSS volunteers and others with whom he had labored in his public life, Advani thanked President Droupadi Murmu and Modi for the honour.
“I additionally categorical my deepest emotions for all members of my household, particularly my pricey departed spouse Kamla. They have been the best supply of energy and sustenance in my life,” he mentioned.
He added, “May our nice nation progress to the top of greatness and glory.”
LK Advani and his political life
LK Advani and his political journey
Advani, who served because the Deputy Prime Minister from 2002 to 2004, was one of many co-founders of BJP, which got here to energy for the primary time in Nineteen Nineties.
Born in Karachi and moved to India throughout Partition, Advani joined BJP’s ideological mother or father physique Rashtriya Swayamsevak Sangh (RSS) in 1941.
Advani, who was BJP’s Prime Ministerial candidate in 2009 however misplaced to Congress-led coalition, is the longest-serving BJP president, Leader of Opposition in Lok Sabha and Union Home Minister.
The BJP stalwart was the chief of BJP’s motion supporting the development of Ram Temple, which was inaugurated by PM Modi on January 22 ending a wait of years, within the disputed web site of Uttar Pradesh’s Ayodhya in Nineteen Nineties.
His speech in favour of Ram Temple building is alleged to have provoked the demolition of Babri Masjid within the disputed web site by a mob.
He had final contested an election in 2014 from Gujarat’s Gandhinagar Lok Sabha constituency, which is now Union Home Minister and BJP strongman Amit Shah’s parliamentary seat.
~ Named after Mahendra Singh Dhoni, Garuda Aerospaces Droni is the company’s first B2C product ~ ~ Foldable, portable and light weight at only 249 gms, with impressive flight time of 60 minutes ~ ~ Available globally at an introductory price of Rs. 85,000 exclusively on Amazon ~
February 1, 2024; National: After having cemented market dominance in the Agri Drone Segment with a staggering 55% share, India’s largest drone start-up Garuda Aerospace now launches Droni. Droni is the company’s first product into the consumer photography and cinematography drone sector which has been dominated by the DJI drones for several years. Currently available on Amazon for purchase in India and across the globe, Droni was also launched on the social handles of investor Mahendra Singh Dhoni and Chennai Super Kings.
Garuda Aerospace Droni
“This launch is an exciting one for us. Besides being out first B2C product in the market, it is a product that is cutting-edge, and purposefully designed for convenience and quality. Moreover, it strengthens our partnership with our brand ambassador Mahendra Singh Dhoni and offers consumers an opportunity to own a product that is created in association with him. The product is a game-changing one in the aerial photography and videography market and we are confident that it will empower users to push creative boundaries.” said Agnishwar Jayaprakash, Founder and CEO, Garuda Aerospace.
Launched as India’s smartest personal drone, Droni is a compact small-sized foldable quadcopter nano drone weighing under 250 gms which can effortlessly fit into ones pocket. The drone is integrated with 11 intelligent flight modes including intelligent follow-me features, circling, fading, soaring, time-lapse, tail flicking, broad and straight forward shooting, etc. It is also integrated with target management, level 7 wind resistance and has intelligent voice somatosensory control making way for one hand control when required. Its three-axis mechanical stabilized pan tilt ensure perfect stable shots.
Droni boasts of a high-quality 48 MP camera with wide angle lens optical flow positioning and delivers an impressive 60 minutes of flight time, thus elevating the overall user experience Despite being feature rich, Droni is easy to use, and has a seamless user interface.
Priced at a MRP of Rs 1,40,000, Garuda Aerospace’s Droni Drone is available at an introductory price of Rs 85,000, exclusively on Amazon. To support the launch of Droni drone is an integrated marketing campaign including an ad film featuring MS Dhoni .
About Garuda Aerospace
Garuda Aerospace is India’s leading Drone tech startup focused on disrupting two major multi-billion-dollar sectors, Precision Agri Tech and Industry 4.0 upgradation. Garuda Aerospace is asset-light, recession-proof, agnostic, and focuses on eliminating laborers in the agricultural field with drones focusing on designing, building, and customization of Unmanned Aerial Vehicles (UAVs). Founded in 2015 with a team of 5, Garuda has scaled to 200+ member team having the largest drone fleet in India with over 400 drones and 500 pilots operating in 84 cities. Garuda Aerospace manufactures 30 types of drones and offers 50 types of services. Having served over 750 clients including TATA, Godrej, Adani, Reliance, Swiggy, Flipkart, Delhivery, L&T, Survey of India, SAIL, NTPC, IOCL, Smart cities, Intel, Amazon, Wipro, IISC, MIT Boston, NHAI for various projects, the company recently partnered with global giants such as Lockheed Martin, Cognizant and Elbit Systems. Hon’ble Prime Minister Shri Narendra Modi Ji launched the drone yatra where 100 drones were flagged off simultaneously across 100 villages in India. Garuda Aerospace is the first drone company to get DGCA approvals for Type Certification and Remote Pilot Training Organisation. Garuda is on a mission to impact 1 billion lives positively using affordable precision Drone Technology. Mahendra Singh Dhoni has invested in the company and is the Brand Ambassador.
India’s smartphone shipments remained flat in 2023 at 152 million units, as Apple surpassed the 10-million-unit mark in shipments and capturing the top position in revenue in a calendar year for the first time, a new report showed on Wednesday.
With an 18 per cent share, Samsung took the top spot last year, for the first time since 2017, according to Counterpoint Research.
Vivo took the second spot in 2023 with a 17 per cent share and led the affordable premium segment (Rs 30,000-Rs 45,000) with a 33 per cent share.
Xiaomi slipped to the third spot in 2023 but led in Q4 2023 with an 18.3 per cent share.
OnePlus grew by 33 per cent YoY in 2023 driven by offline expansion and better product portfolio in the affordable premium segment (Rs 30,000-Rs 45,000).
5G smartphone shipment share crossed 52 per cent in India, growing 66 per cent YoY.
AppleIANS
“Driven by the premium segment’s growth and 5G upgrades, India’s smartphone market grew 25 per cent YoY in Q4 2023 after declining for a year,” said senior research analyst Shilpi Jain.
The last quarter (October-December) exited the market with healthy inventory levels compared to last year, setting the right tone for growth for next year.
“We believe the market will grow by 5 per cent YoY next year driven by premiumization, diffusion of 5G in lower price bands and better macroeconomic conditions,” Jain added.
The premium segment witnessed a 64 per cent YoY growth, driven by easy financing schemes, which resulted in consumers jumping price bands to purchase higher-priced smartphones.
“For Apple, the opening of own retail stores and increasing focus on LFR (large-format retail) through regular promotions contributed to increased offline shipments. Besides, higher trade-in values presented an appealing proposition for consumers to transition to iOS,” said research analyst Shubham Singh.
Godfrey Phillips India Limited, a key participant within the Indian FMCG business, is happy to declare its monetary efficiency for the third quarter of the fiscal 12 months 2023-24 (FY24). The firm’s outstanding development and steadfast resilience have led to the attainment of noteworthy milestones.
Dr Bina Modi, Chairperson, and Managing Director of Godfrey Phillips India and Sharad Aggarwal, CEO, and Whole Time Director of Godfrey Phillips India
During the Q3 FY 2024 (Consolidated), Godfrey Phillips India skilled a formidable surge in income from operations, rising by 33.8% to succeed in Rs. 1488 crore, as in comparison with Rs. 1112 crore within the corresponding interval of the earlier 12 months. The firm additionally recorded a web revenue of Rs. 212 crore throughout the Q3 FY 2024 (Consolidated) as in comparison with Rs. 199 crore within the corresponding interval of the earlier fiscal, as reported in a regulatory submitting.
Addressing this outstanding achievement, Dr Bina Modi, Chairperson, and Managing Director of Godfrey Phillips India, said, “We are thrilled to share the monetary outcomes for Q3 FY2024, showcasing the sustained development momentum from the previous 12 months to this quarter. I’m steadfast in my perception that an organization prospers when its individuals flourish. Consequently, we persistently foster a tradition of excessive efficiency, make important investments in capability constructing, and prioritize the general well-being of our staff. The constant recognition as a Great Place To Work for 5 consecutive years solidifies our steadfast dedication to our People-First philosophy.”
During April to December’23 interval, Godfrey Phillips India reported consolidated income from operations of Rs. 4107 Crores and Net Profit of Rs. 669 Crores, representing a formidable improve of 25.0% and 23.2% respectively when in comparison with Rs. 3285 crore and Rs. 543 crore respectively within the corresponding interval of the earlier 12 months.
Sharad Aggarwal, CEO, and Whole Time Director of Godfrey Phillips India commented on the corporate’s future plans, mentioned, “We are devoted to making sure optimum outcomes for all our stakeholders. Our development in income from home enterprise was moreover bolstered by a considerable surge in exports of unmanufactured tobacco, reaching Rs. 1107 Crores throughout April to December’23 interval which signifies a formidable development of 68.4% in comparison with the corresponding determine in earlier 12 months. Looking forward, we intention to broaden our enterprise horizons by prioritizing sustainable development and profitability.”
Maintaining a optimistic perspective, Godfrey Phillips India stays unwavering in its dedication to not solely ship sustainable development but additionally to create substantial worth and obtain excellence throughout all aspects of its operations. This dedication underscores the corporate’s enduring concentrate on long-term success and its proactive method to addressing challenges whereas seizing alternatives within the ever-evolving enterprise panorama.
About Godfrey Philips India
Godfrey Phillips India Limited (GPI), the flagship firm of Modi Enterprises – KK Modi Group, is among the largest FMCG corporations in India and is counted amongst India’s Fortune 500 organizations.
