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<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Good morning! Tired of having to check your email when you're supposed to be off the clock? A growing number of countries are implementing laws that make those <a target="_blank" href="https://www.businessinsider.com/ban-after-hours-work-calls-emails-could-bring-trouble-peace-2024-11">late-night emails from your boss illegal</a>.In today's big story, OpenAI's next big AI model <a target="_blank" href="https://www.businessinsider.com/openai-orion-model-scaling-law-silicon-valley-chatgpt-2024-11">isn't showing massive improvement over previous versions</a>, and it could be a sign of a new era.What's on deck:<ul><li>Markets: Prediction markets were one of the big winners of the election. <a target="_blank" href="https://www.businessinsider.com/polymarket-kalshi-trump-victory-future-prediction-markets-2024-11">So now what</a>?</li><li>Tech: The key role YouTube played <a target="_blank" href="https://www.businessinsider.com/youtube-donald-trump-podcasts-joe-rogan2024-11">in helping Trump get elected</a>.</li><li>Business: These companies <a target="_blank" href="https://www.businessinsider.com/companies-raising-prices-trump-tariffs-inflation-goods-getting-more-expensive-2024-11">have signaled they might increase prices</a> because of Trump's trade plans.</li></ul>But first, not so fast.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="7fa5f018-5b05-4a37-a8dc-d3f89138bcb3">The big story</h3><h2 id="5fd547b9-ec52-41fc-8e08-4f4b27dd8097">Big leaps to baby steps</h2><div type="image" title="Image of Sam Altman" height="1355" width="1920" msid="115221991" hostid="261" sizebytes="24236"></div>The fastest-growing sector of tech is facing a serious speed bump.OpenAI's next artificial intelligence model, Orion, reportedly isn't showing the massive leap in improvement previous versions have enjoyed. That's leading to bigger questions about how quickly <a target="_blank" href="https://www.businessinsider.com/openai-orion-model-scaling-law-silicon-valley-chatgpt-2024-11">we can expect future generative-AI models to keep getting better</a>, writes Business Insider's Hasan Chowdhury and Beatrice Nolan.Some OpenAI employees who have used and tested Orion told The Information its improvements are only moderate and smaller than what users saw going from GPT-3 to GPT-4.It's an astounding revelation when you consider the stakes. OpenAI is considered the leading AI company, and we're learning that its most important new product may not be that much better than something it released about 20 months ago — a lifetime in the AI industry.It also undermines a core assumption about the future of generative AI: If you add more data and computing power, you get smarter and more powerful AI models. This "scaling law" is the consensus view now, yet OpenAI is reportedly struggling with it.Top AI players have eye-popping valuations based on the promise that AI models will keep getting smarter and better with time. If that growth trajectory slows, it could lead to difficult questions, particularly from investors bankrolling the hundreds of billions of dollars companies are pouring into these projects.<div type="image" title="An eye in the center while abstract swirls, numbers and chat bubbles surround it" height="1080" width="2160" msid="115221987" hostid="261" sizebytes="520698"></div>So what's holding AI models back from making another big jump?AI models are already burning through text, with one estimate predicting they'll run out of material by 2028. Companies are trying to circumvent the issue with synthetic data, <a target="_blank" href="https://www.businessinsider.com/ai-synthetic-data-industry-debate-over-fake-2024-8">but that might not be a viable solution</a>.Using more computing also comes with limitations and has the added hurdle of <a target="_blank" href="https://www.businessinsider.com/amazon-data-centers-delays-costs-power-labor-shortages-aws-ai-2024-10">needing significant power</a>. The biggest companies in the world are struggling to find cost-efficient energy sources for the massive data centers they're building as part of their AI strategy.There was always an expectation that things might slow down a bit. In July, one OpenAI customer told BI he thought the newest iteration <a target="_blank" href="https://www.businessinsider.com/openai-gpt5-gpt4-expectations-ai-2024-7">would be like going from undergrad to a PhD program</a>, as opposed to the jump from GPT-3 to GPT-4, which was like "grade school to undergrad."More resources can help address those issues to a degree, but the improvements still might not mirror what we saw in the early days of generative AI. If that's the case, investors might be unwilling to open their wallets for something they view as having diminishing returns.Even if they shell out the cash, companies will likely price their products accordingly to recoup those investments. That's a tricky proposition, as <a target="_blank" href="https://www.businessinsider.com/for-ai-models-good-enough-is-good-enough-2024-5">"good enough" is fine for plenty of users</a>.<h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li>New York Times tech workers are <a target="_blank" href="https://www.businessinsider.com/the-new-york-times-tech-workers-ending-their-labor-strike-2024-11">ending their strike</a>.</li><li>Anthony Scaramucci tells BI Trump's economic plans could cause a <a target="_blank" rel="noopener" href="https://www.businessinsider.com/stock-market-crash-risk-outlook-trump-deportation-tariff-anthony-scaramucci-2024-11">1920s-style stock-market crash</a>.</li><li>Bitcoin hits fresh record near $85,000 as investors keep <a target="_blank" href="https://markets.businessinsider.com/news/currencies/bitcoin-record-price-outlook-crypto-trump-election-digital-assets-altcoins-2024-11">cheering 'crypto president' Trump</a>.</li><li>The winners of Wall Street bonus season this year: <a target="_blank" href="https://www.businessinsider.com/wall-street-bonus-season-alan-johnson-associates-report-underwriters-2024-11">the underwriters</a>.</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="Dice with the faces of Trump, Musk, RFK, and Zelensky" height="1500" width="2000" msid="115221989" hostid="261" sizebytes="103426"></div><ol><li>Betting markets are taking their victory lap and already thinking about what's next. Besides Donald Trump — and maybe Elon Musk — betting markets were arguably one of the biggest winners on election night, having predicted a resounding Trump victory. Insiders spoke to BI about how the betting markets' success <a target="_blank" href="https://www.businessinsider.com/polymarket-kalshi-trump-victory-future-prediction-markets-2024-11">could impact traditional polls and the media</a>.</li><li>Morgan Stanley teams up with Carta on the eve of an IPO boom. Carta, which helps startups and investors track company ownership, will refer clients looking to go public to Morgan Stanley. Jed Finn, the bank's wealth boss, explained how the partnership will benefit both sides <a target="_blank" href="https://www.businessinsider.com/morgan-stanley-partners-with-carta-startup-ipos-wealth-2024-11">in an exclusive interview with BI</a>.</li><li>Putting a number on the impact of Trump's potential tax cuts. Goldman Sachs said the S&amp;P 500 earnings could rise more than 20% over the next two years <a target="_blank" href="https://markets.businessinsider.com/news/stocks/trump-tax-cuts-tariffs-stock-market-sp500-inflation-china-trade-war-2024-11">if Trump cuts corporate taxes like he said he would</a>. The president-elect's blanket tariff proposal could have the opposite effect, but Wharton professor Jeremy Siegel said Trump's so focused on appealing to investors <a target="_blank" href="https://markets.businessinsider.com/news/stocks/trump-policies-tax-cuts-inflation-government-debt-deficit-jeremy-siegel-2024-11">he might soften his economic agenda to suit them better</a>.</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="Distorted Youtube logo with election imagery." height="900" width="1200" msid="115221994" hostid="261" sizebytes="215788"></div><ol><li>This election, social media killed the TV star. Donald Trump spent a lot of time on the campaign trail with podcasters like Joe Rogan, <a target="_blank" href="https://www.businessinsider.com/youtube-donald-trump-podcasts-joe-rogan2024-11">who have huge YouTube followings</a> and benefit from the platform's content-recommendation algorithm. Now, the Trump administration might turn away from TV and <a target="_blank" href="https://www.businessinsider.com/twitter-donald-trump-elon-musk-2024-11">embrace new media even further</a>, given the president-elect's bromance with X owner Elon Musk.</li><li>A $3 billion healthcare startup just cut some physical therapists as it turns to AI. Sword Health, which provides virtual care for problems like muscle and joint pain, laid off more than a dozen of its clinical workforce in October, three former employees told BI. <a target="_blank" href="https://www.businessinsider.com/3-billion-sword-health-cuts-physical-therapists-2024-11">The cuts came as the startup ramps up its AI platform to treat patients</a>.</li><li>Trump's trade plan could make things muy difícil for Elon Musk. Tesla's planned $10 billion gigafactory in Mexico will hit a major roadblock if Trump pursues the massive tax he's discussed putting on vehicles imported from Mexico. Musk isn't alone — analysts warned <a target="_blank" href="https://www.businessinsider.com/trump-tariffs-threaten-elon-musk-tesla-mexico-factory-limbo-2024-11">tariffs on imported cars from Mexico would seriously hurt US automakers</a>.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="Photo illustration of a lightbulb with the globe painted on it" height="960" width="1920" msid="115221992" hostid="261" sizebytes="26616"></div><ol><li>Trailblazing for a sustainable future. Solving the climate crisis will take innovation and action across industries like energy, transportation, agriculture, and finance. BI identified <a target="_blank" href="https://www.businessinsider.com/climate-action-15-global-leaders-innovating-climate-solutions-2024-11">15 entrepreneurs, policymakers, organizers, and academics</a> around the globe confronting the crisis head-on.</li><li>Expect the price of these goods to go up if Trump enacts his trade plan. Three executives have already warned they plan to raise prices if the president-elect implements the aggressive tariff proposal he campaigned on. "<a target="_blank" href="https://www.businessinsider.com/companies-raising-prices-trump-tariffs-inflation-goods-getting-more-expensive-2024-11">It's going to be very, very difficult to keep products affordable for Americans</a>," one CEO said.</li><li>Key players in Trump administration 2.0. From the wily campaign strategist who will be the first female presidential chief of staff to the ex-ICE director tapped to be "border czar," <a target="_blank" href="https://www.businessinsider.com/donald-trump-white-house-staff-cabinet-picks-list-2024-11">these are the people shaping key policies</a> for the next 4 years.</li></ol><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>New York judge Juan Merchan rules on claims of presidential immunity in Donald Trump's hush-money case. Trump's defense has argued that the prosecution should not have been allowed to use some evidence in the case.</li><li>Jack Teixeira, the national guardsmen who pled guilty to leaking sensitive military documents on Ukraine online, is sentenced in Massachusetts court.</li><li>Home Depot and other companies report earnings.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Grace Lett, editor, in Chicago. Ella Hopkins, associate editor, in London. Hallam Bullock, senior editor, in London. Amanda Yen, fellow, in New York. Milan Sehmbi, fellow, in London.

OpenAI reportedly facing issues with its new AI model is a red flag for the entire industry

A sixth-grade social science textbook that I read described India as a piece of fabric, with countless threads coloured in a myriad of majestic shades, woven together. This metaphor holds exceptionally well when put into the context of our <keyword id="22706215" type="General" weightage="20" keywordseo="handloom-industry" source="keywords">handloom industry</keyword>. India has a rich history of handlooms and weaving cultures. The culture of handlooms is so intricately woven into Indian culture, that there are whole towns dedicated to the same: <keyword id="248532" type="General" weightage="20" keywordseo="Chanderi" source="Orion">Chanderi</keyword> in Madhya Pradesh to Pochampally in Telangana and a dozen more! Unfortunately, the handloom industry in India is dying. The struggle is multi-faceted, ranging from a declining workforce to fierce competition from <keyword id="20496028" type="General" weightage="20" keywordseo="power-looms" source="keywords">power looms</keyword>. Hence, five years ago, August 7 was proclaimed <keyword id="22677698" type="General" weightage="20" keywordseo="National-Handloom-Day" source="keywords">National Handloom Day</keyword> in response to this crisis and to heighten public awareness. This date holds special historical significance, commemorating the initiation of the Swadeshi Movement in 1905—a pivotal act of defiance against British colonial rule. <h2>When did this industry come into existence?</h2>According to archaeological findings, the origins of handloom in the Indian subcontinent may be traced back to the Indus Valley Civilization. The Mughal Empire was known to support and patronise <keyword id="20258864" type="General" weightage="20" keywordseo="weavers" source="keywords">weavers</keyword>. The support from the royal patrons resulted in the invention of new textiles such as ‘Mulmul’ and ‘Banarasi Brocade’ among others. This era witnessed a heightened worldwide demand for Indian textiles. In the 17th century, India produced 25% of the world’s textiles, with Bengal accounting for more than 50% of textiles and 80% of silks imported by the Dutch from Asia. <h2>What led to the decline of the <keyword id="19934660" type="General" weightage="100" keywordseo="Indian-handloom" source="keywords">Indian handloom</keyword>?</h2>The East India Company's entry fuelled the industry's initial decline, which started in the 1830s. The weavers were obliged to sell only to the British, and that too at exceedingly cheap prices, virtually putting them out of business. On the other hand, Indian cloth was taxed excessively to promote machine-made British clothing. The Industrial Revolution in Britain strengthened their indigenous textile industry, giving rise to new markets for cheaper textiles. In India, the collapse of the Mughal aristocracies meant no access to royal patronage. As a result, textiles like Khadi and muslin had little demand in the market. Circling back to the present, the industry is facing both similar and new challenges. Fabrics made on power looms are cheaper and faster to produce, in comparison to handloom fabrics. The industry is largely unorganised, and the wages are shockingly low. 67% of <keyword id="22706216" type="General" weightage="20" keywordseo="handloom-workers" source="keywords">handloom workers</keyword> are earning less than the minimum wage every month. Faced with economic challenges, the older artisans are thus forced to encourage the newer generation to choose an alternative career path. This migration of the workforce from a traditional sector is evident from the fall in the number of weavers less than 35 years of age- from 26.13 lakh in 2009-10 to 16.07 lakh in 2019-20. The majority of weavers do not have access to banking facilities, let alone institutional credit. Furthermore, if one manages to accumulate credit, there is a mismatch between the supply and demand forces due to the lack of awareness about handwoven textiles in the current generation. <h2>Initiatives for revival</h2>The cultural significance of the Indian handloom isn’t just limited to its beauty and extravagance, but it extends to our independence struggle as well. The Swadeshi movement immortalised the charkha and advocated for the use of indigenous goods. Following independence, the Indian government took many measures to revive the handloom industry. In 1953, India’s Parliament approved the Khadi and Other Handloom Industries Development Act. In 1955, the All India Handloom Fabrics Marketing Cooperative Society was formed to promote the sale of fabrics produced by handloom cooperatives across India. The National Handloom Development Programme (NHDP) aimed to provide financial assistance for marketing and production. The Handloom Weavers’ Comprehensive Welfare Scheme offers health and life insurance to weavers, to ensure social security. The organisation commenced a fortnight-long exhibition, “VIRAASAT” dedicated to celebrating the 10th National Handloom Day began at Handloom Haat in Janpath, New Delhi on Saturday, 3rd August 2024, and will conclude on 16th August 2024. The Handloom Mark scheme was introduced to authenticate handloom products, thus enabling weavers to gain better market access and ensuring that consumers get genuine products. Moreover, the India Trade Portal also mentions that the GOI plans to provide financial assistance of Rs. 30 crore to at least 10,000 handlooms. Various state governments also regularly conduct handloom expos and fairs, providing platforms for weavers to showcase and sell their products directly to consumers. <h2>Contemporary Brands and their love for Indian handloom</h2>Modern, popular designers such as <keyword id="8264" type="General" weightage="20" keywordseo="Sabyasachi" source="Orion">Sabyasachi</keyword> and <keyword id="21493890" type="General" weightage="20" keywordseo="ritu-kumar" source="keywords">Ritu Kumar</keyword> are known to work closely with weavers and have been doing their part by bringing worldwide attention to the handloom industries. Recently, <keyword id="1472101" type="General" weightage="20" keywordseo="Ajrakh" source="Orion">Ajrakh</keyword> was brought into the limelight when Alia Bhatt wore a custom Abu Jani Sandeep Khosla Ajrakh saree to Joy Awards in Riyadh. However, it’s not just the fashion moguls who are working towards the revival of this industry. Contemporary indie brands are partnering with local weavers, and creating awareness about their work. The emergence of such indie brands and their association with local artisans is beneficial for both entities. For instance, Joskai Studio derives its name from ‘Joskai’, a woven piece of cloth worn as a part of the traditional costume of the Tiwa community of Assam. They work with artisans in northeast India, specifically from the weaving village of Saualkuchi in Assam. Rouka by Sreejith Jeevan is a Kerala-based brand that works strictly with weavers from Kerala, specifically Chendamangalam and Kuthampally. <h2>Employment and Exports</h2>According to the Indian Trade Portal, the Indian handloom sector is the country’s second-largest employer after agriculture in rural areas. The Handloom Census 2019-20 mentions that the industry employs about 35,22,512 workers across the country, with women forming 77.29% of the workforce. India is the second largest exporter of handloom products in the world, with exports valued at $ 353.9 million in 2017- 18, as per EXIM bank's working papers. The major handloom export centres are Karur, Panipat, Varanasi and Kannur where handloom products like bed linen, table linen, toilet linen, floor coverings, and embroidered textile materials and curtains etc. are produced for export markets. During April 2021-February 2022, India exported handloom products worth 1693 crore, as per Indian Trade Portal. Indian silk scarves also form a sizable chunk of total handloom exports, in addition to home textiles like carpets, rugs and mats, which constitute over 13.6% of India’s total handloom exports. <h2>The Path Forward</h2>The mere existence of organisations and allocation of funds isn’t enough to sustain the legacy of India’s rich handloom industry. Big corporations working with local weavers ensure employment but don't protect them from exploitation and meagre wages, leaving them vulnerable. The people in power ought to come up with strategies that ensure the trickle-down effect of the schemes and funds. The new generation of buyers has a greater purchasing power than the one before them. Marketing focused on bringing Indian handloom practices into the limelight can do wonders in this case.

Fabric of a nation: Sustaining India's handloom legacy in modern times

<ul class="summary-list"><li>Eden Green uses high-tech systems to grow greens indoors and reduce the unpredictability of farming.</li><li>The company also aims to draw workers by offering health insurance, paid leave, and a 401(k).</li></ul>The first time Stacia Lewis stepped into the massive greenhouse with 18-foot-high walls of romaine and butterhead lettuce, they knew they had to work there. "It was just like I'm walking into Willy Wonka's factory or something," Lewis told Business Insider. "It looked like everything I had ever wanted." That was three years ago at <a target="_blank" href="https://www.edengreen.com/">Eden Green Technology,</a> and Lewis got the job. They'd never considered a career in agriculture even after having grown up wandering through the hoop houses that dot their aunt's homestead. But Eden Green, which uses a high-tech system for growing staples like arugula lettuce and cooking greens like kale and chard in Cleburne, Texas, where Lewis was raised, won them over.<div type="image" title="Stacia Lewis in a greenhouse" height="2880" width="2160" msid="107778607" hostid="261" sizebytes="489054"></div>One of Eden Green's aims is to remove some of the unpredictability of farming by doing it indoors in soaring greenhouses stacked with rows of greens. The company is also trying to take on another challenge many farms face: <a target="_blank" href="https://www.businessinsider.com/baby-boomer-retirement-surge-spark-forever-labor-shortage-jobs-workers-2023-5#:~:text=Ever%20since%20the%20pandemic%2C%20American,to%20join%20the%20Great%20Resignation.">finding enough workers</a>. To do that, Eden Green wants to make agriculture feel like other careers. It offers health insurance, <a target="_blank" href="https://www.businessinsider.com/data-great-place-to-work-maven-paid-parental-leave-benefits-2020-12">paid leave</a>, and it recently introduced a 401(k) — benefits not always available to traditional farm workers.Part of the idea is to pull in workers like Lewis. Finding employees who might not have thought of ag is important because it's an industry that, like healthcare or retail, often <a target="_blank" href="https://www.fb.org/market-intel/h-2a-growth-slows-but-remains-strong">faces trouble drawing enough workers</a>. Eden Green's playbook involves going where the people are. Cleburne, with a population of about 34,000, sits on the edge of the sprawling Dallas-Fort Worth region. That means Eden Green can truck produce to nearby grocery distribution centers and operate in an area with a large enough population to attract job candidates. It's a far cry from traditional US farms, which on average span hundreds of acres in rural areas where <a target="_blank" href="https://www.ers.usda.gov/data-products/ag-and-food-statistics-charting-the-essentials/farming-and-farm-income/">fewer than one in four Americans</a> live."By solving the distribution problem, we've actually solved the labor problem, too," Eddy Badrina, the company's CEO, told BI. It's a location that's already a draw for workers. There's a <a target="_blank" href="https://www.businessinsider.com/walmart-increased-distribution-center-productivity-13-percent-2019-3">Walmart distribution facility</a> less than half a mile down the road — that Eden Green also supplies its produce to — and an <a target="_blank" href="https://www.businessinsider.com/former-facebook-microsoft-exec-says-amazon-warehouse-job-cured-burnout-2022-10">Amazon warehouse</a> about 10 miles away, he said. "If you could work with plants and work in something that is, you know, environmentally and economically sustainable, and it's feeding your local community, or you could work at an Amazon warehouse, what would you do?" he said, adding that one isn't necessarily better than the other.When Lewis, 24, came across the job listing for an entry-level role on Eden Green's production team, they were managing a Starbucks. "I just really wanted something more. I wanted to feel like I was doing something good," they said. At its facility of nearly 83,000 square feet, Eden Green does its growing without soil, a process called <a target="_blank" href="https://www.businessinsider.com/bowery-farms-indoor-farm-grows-365-days-a-year-less-water-2018-2">hydroponics</a>. Eden Green said it uses 98% less water and 99% less land than traditional farming. The company is adding greenhouses in Cleburne that will triple its growing capacity. In the next five years, it plans to build 20 greenhouses across the US.The idea of producing basics like lettuce in a different way appealed to Lewis, who'd long been interested in environmental sustainability but wasn't sure how to make that fit with their job. Lewis, who's also a writer, tried college for a while, but they said it didn't feel right.Now, Lewis has moved up and currently holds the job of grower. They spend about half their time at a computer placing orders, monitoring some of the systems used to run the greenhouses, and communicating with vendors. The predictability of the work is part of the appeal for Lewis. "You can still have that agriculture job and have a full-time, steady position," they said. Eden Green has 13 harvests a year, so there aren't the ups and downs for demand in labor as is often the case with traditional growing methods, Badrina said. That changes the foundational <a target="_blank" href="https://www.businessinsider.com/some-farmers-working-at-night-to-avoid-extreme-heat-2023-9">assumptions of agriculture</a>. Their workers have to "be in there every single day to plant, to tend, to harvest, to pack," Badrina said.<div type="image" title="Eddy Badrina stands in an Eden Green warehouse" height="768" width="1024" msid="107778610" hostid="261" sizebytes="42074"></div>Eden Green pays $14 to $25 to its hourly workers, who do things like seeding, tending to plants, harvesting, and putting goods into clamshell packaging, he said. There are more than half a dozen roles within a greenhouse that someone can specialize in. "Someone with a high school degree can start at the base and then work their way up," Badrina said. And often, in his experience, younger workers like the idea of doing something meaningful to society.That, he said, helps Eden Green hang onto workers. And it's not just young workers with high school diplomas. The company employs people with advanced degrees in controlled-environment agriculture, horticulture, and plant biology. Eden Green's retention rate has been above 80% for the past nine months, the company said.Room to advance — and the work itself — has kept Lewis at the company, they said. "I do love working with people, but plants have always been a passion of mine. So to be able to join a passion with a career has just been a dream for me," Lewis said.

This indoor farming company is trying to win workers over to agriculture — through desk-job benefits

<keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> has embraced technology in every field of activity. It is adopting smart farming methods through technology and innovation in the agriculture sector and this may prove to be a game changer in the days to come by substantially raising farmers income. How is this method beneficial? Smart farming involves the application of sensors and automated irrigation practices. It can help monitor agricultural land, temperature and soil moisture. This would enable farmers to monitor crops from anywhere. Moreover, smart farming can help integrate digital and physical infrastructures, which would benefit small farmers. Agri-based startups can reach out to the farmers and help them gain access to such viable and cost-effective solutions. Agri-based, tech-driven startups have been very innovative in assisting farmers and revolutionising farming techniques. They have also addressed one of the most powerful headwinds (climate change) through climate-smart farming. In a unique move, the Indian government is implementing a <keyword id="12166469" type="General" weightage="20" keywordseo="Digital-Agriculture-Mission" source="Orion">Digital Agriculture Mission</keyword> (DAM), which includes India Digital Ecosystem of Agriculture (IDEA), Farmers' Database, Unified Farmers Service Interface (UFSI), funding to the states on the new technology (NeGPA), revamping <keyword id="3182679" type="General" weightage="20" keywordseo="Mahalanobis-National-Crop-Forecast-Centre" source="Orion">Mahalanobis National Crop Forecast Centre</keyword> (MNCFC), Soil Health, Fertility and profile mapping. According to a report published by the National Association of Software and Services Companies (NASSCOM) in 2019, there were more than 450 argi-based tech-driven startups in India as of 2019. This number has skyrocketed in the last two years as the sector witnessed a surge in investments and funding. Agri-based tech-driven startups have been very innovative in assisting farmers and revolutionising farming techniques. They have also addressed one of the most powerful headwinds (climate change) through climate-smart farming. Under the NeGPA programme funding is given to the governments in various Indian states for Digital Agriculture projects using emerging technologies like Artificial Intelligence and Machine Learning (AI/ML), Internet of Things (IOT), Block chain etc. Adoption of drone technologies is being done too. To promote smart farming, the government promotes startups in the agriculture sector and nurtures agri-entrepreneurs. The 'Per Drop More Crop' component of the Pradhan Mantri Krishi Sichai Yojana (PMKSY-PDMC) aims to increase water use efficiency at the farm level through micro irrigation technologies like drip and sprinkler irrigation systems. PMKSY is a scheme initiated by Prime Minister Narendra Modi. The <keyword id="87560" type="General" weightage="20" keywordseo="Indian-Council-of-Agricultural-Research" source="Orion">Indian Council of Agricultural Research</keyword> (ICAR) promotes innovation, extension and education in agriculture. A total of 1,575 field crop varieties were released for different agricultural crops during 2014-21. During 2014-21, 91.43 crore agri-advisories were provided to farmers through mobiles. ICAR developed 187 mobile apps on different farm and farmer related services during 2014-21. The agriculture sector plays a vital role in enriching India's economy. Agriculture accounted for almost 17.8 per cent of India's Gross Value Added (GVA) in 2019- 20. According to the World Bank's collection of development indicators, employment rate in the Indian agriculture sector stood at 41.5 per cent in 2020. From a socio-economic standpoint, agriculture is a vital sector which requires focus and awareness at all levels. According to India Brand Equity Foundation, the rising population and changing diets have created a huge pressure on land in India. Farmers are struggling to keep up as crop yields level off, soil degradation rises, water shortage increases, biodiversity declines, and natural calamities become more frequent. Furthermore, agriculture accounts for almost 14 per cent of India's total greenhouse gas emissions. In the meantime, the NITI Aayog (erstwhile Planning Commission of India) conducted a study entitled "Efficacy of Minimum Support Prices on farmers", in 2016, which found, among other things, that MSP declared by the government has encouraged 78 per cent of the farmers covered under the study for adopting improved methods of farming such as high yielding varieties of seeds, organic manure, chemical fertilizer, pesticides and improved methods of harvesting etc. Additionally, oilseeds, pulses and copra of Fair Average Quality (FAQ) are procured from registered farmers under Price Support Scheme of the umbrella scheme of Pradhan Mantri Annadata Aay SanraksHan Abhiyan (PM-AASHA), as per its prescribed guidelines. The Indian national Budget for 2018-19 had announced the pre-determined principle to keep Minimum Support Price or MSP at levels of one-and-half times of the cost of production. Accordingly, government has increased the MSPs for all mandated Kharif (including wheat), Rabi and other commercial crops with a return of at least 50 per cent over all India weighted average cost of production from the agricultural year 2018-19. Moreover, India's National Crop Insurance Portal (NCIP) is the only source of enrolment for Pradhan Mantri Fasal Bima Yojana (PMFBY), on which farmer applications from various designated sources including banks/financial institutions are entered. Specific cut-off dates have been prescribed for enrolment of farmers, debit of premium, remittance of farmers' premium to concerned insurance company and uploading of data of farmers on NCIP. The <keyword id="603825" type="General" weightage="20" keywordseo="Ministry-of-Food-Processing-Industries" source="Orion">Ministry of Food Processing Industries</keyword> (MoFPI) has been incentivising setting of food processing industries through central sector umbrella scheme �Pradhan Mantri Kisan SAMPADA Yojana (PMKSY), Production Linked Incentive Scheme for Food Processing Industry (PLISFPI) and centrally sponsored scheme �PM Formalization of Micro Food Processing Enterprises (PMFME) scheme across all the country. Under scheme of creation of infrastructure for agro processing clusters, a component scheme of PMKSY, the scheme is aimed at development of modern infrastructure and common facilities to encourage entrepreneurs to set up food processing units based on cluster approach and also to create modern infrastructure for food processing closer to production areas and to provide integrated and complete preservation infrastructure facilitates from the farm gate to the consumer. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/india-must-pitch-for-rupee-as-dollar-distancing-might-be-finally-happening-sbi-ecowrap/articleshow/93513940.cms">India must pitch for Rupee as dollar distancing might be finally happening: SBI Ecowrap</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/snapchat-comes-to-india-with-exclusive-features-heres-how-much-it-costs-and-how-to-sign-up/articleshow/93513880.cms">Snapchat+ comes to India with exclusive features — here's how much it costs and how to sign up</a>

Smart farming can prove to be a game changer in the coming days

<ul class="summary-list"><li>The Francis Scott Key Bridge collapse has blocked shipments in and out of the Port of Baltimore.</li><li>The port is a key shipping point for cars, construction and farm equipment, and coal.</li></ul>After a cargo ship crashed into Baltimore's <a target="_blank" href="https://www.businessinsider.com/francis-scott-key-bridge-baltimore-collapses-after-struck-large-boat-2024-3">Francis Scott Key Bridge</a> and caused it to collapse, shipments in and out of the Port of Baltimore could be blocked for weeks.The <a target="_blank" href="https://www.businessinsider.com/baltimore-bridge-collapse-cargo-ship-mayday-call-traffic-2024-3">Dali container ship</a> collided with one of the bridge's support beams early Tuesday morning, causing large portions of the 1.6-mile bridge to collapse into the Patapsco River, with the wreckage effectively blocking ships from moving in and out of the Port of Baltimore.The <a target="_blank" href="https://www.businessinsider.com/bigger-ships-making-shipping-incidents-baltimore-bridge-more-complicated-2024-3">port is currently closed to vessels</a> until further notice, with officials saying it's unclear when it will be able to reopen.Industry experts say it could take months and that an extended disruption could have <a target="_blank" href="https://www.businessinsider.com/baltimore-port-closure-could-cost-15-million-per-day-2024-3">major economic consequences</a>, as well as direct impacts on the port's biggest imports and exports."If the port is closed, it's going to impact all of them," Daraius Irani, chief economist for the Regional Economic Studies Institute at Towson University, told Business Insider.<h2>The biggest point of entry for imported cars</h2>The Port of Baltimore is the top port in the US for roll-on/roll-off cargo, which refers to wheeled cargo like vehicles, construction equipment, and agriculture equipment, according to the port.In 2023, the port handled 847,158 automobiles and light trucks — more than any other US port for the thirteenth straight year — according to <a target="_blank" href="https://msa.maryland.gov/msa/mdmanual/01glance/html/port.html#cargo">data from the Port of Baltimore</a>."Baltimore is relatively unique in having the infrastructure to accept the cars and to store them until they ultimately reach their final destination," Anirban Basu, economist, founder, and CEO of Baltimore-based Sage Policy Group, told BI.Roll-on/roll-off cargo is especially difficult to divert to other ports, in part because it generally takes up a lot of space and requires specific handling.General Motors told BI that it expects the collapse to have a "minimal impact" on their operations. "Our thoughts are with those who were affected and the Baltimore community," the statement said, adding: "We are working to re-route any vehicle shipments to other ports as the recovery work continues."A spokesperson from Ford said, "Where workarounds are necessary, our team has already secured shipping alternatives."The Port of Baltimore said it handled 1.3 million tons of imported roll-on/roll-off cargo in 2023, including heavy farm and construction equipment.Basu said Caterpillar, a maker of construction, mining, and agricultural equipment, also moves much of its product through the Port of Baltimore. Caterpillar did not immediately respond to a request for comment from BI.<div type="image" title="Aerial shot of the Port of Baltimore at sunset, looking across and intermodal container yard towards a ship being unloaded by cranes." height="2160" width="3840" msid="108804870" hostid="261" sizebytes="385616"></div><h2>Coal, gypsum, and sugar</h2>In 2022, coal was among the top export commodities by weight moved through the Port of Baltimore. In 2023, the port ranked second in the US for coal exports, according to the port."The Port of Baltimore, over time, has developed the ability to store and then load coal onto ships and have those ships go places long and far, including India," Basu said, noting Maryland's proximity to West Virginia and <a target="_blank" href="https://www.businessinsider.com/coal-magnate-building-renewable-energy-plant-size-chicago-2024-3">coal country</a>. "And so tons of coal are set not to be sent abroad in the near term as the port suffers this lack of operability."In 2023, the Port of Baltimore was also the top US port for imported gypsum, a mineral commonly used in fertilizer and construction material, and imported sugar, according to the port, which has a Domino Sugar refinery operating nearby.ASR Group, whose companies include Domino Sugar and C&amp;H Sugar, told BI in an emailed statement they do not expect any short-term impacts to their operations in Baltimore."The Baltimore Refinery has six to eight weeks of raw sugar supply on hand with a ship currently discharging at the refinery's dock and another that finished unloading on Monday, March 25," the statement said. "ASR Group also owns a network of production facilities and warehouses across the US that all currently have healthy inventories of finished products and can be utilized if necessary."<h2>Paper, chocolate, and ice cream</h2>Many other items pass through the port every day. According to the port, in 2022, that included 1,000 tons of aircraft and parts, 793,695 tons of paper, 24,900 tons of chocolate, and $59.4 million worth of ice cream.In 2023, 444,000 cruise ship passengers also departed from the terminal at the Port of Baltimore.How much the port closure will impact each of these industries remains to be seen. "It really just depends on how much stuff was there before this accident happened," economist Irani said.A research briefing from <a target="_blank" href="https://www.oxfordeconomics.com/wp-content/uploads/2024/03/The-economic-costs-of-the-Key-Bridge-collapse.pdf">Oxford Economics</a> said the bridge collapse will likely have a greater impact on the local Baltimore economy than on a national level."There will likely be some temporary disruptions to certain industries, including automakers, but nothing that warrants an immediate change to our baseline forecast," the briefing said. "Ultimately, the duration of the disruptions at the Port of Baltimore, along with how quickly trade can be rerouted, will determine the economic costs.

Industries from cars to coal to ice cream could be impacted by Baltimore bridge collapse

New Delhi, <keyword id="32870" type="General" weightage="20" keywordseo="auto" source="Orion">Auto</keyword> component maker Samvardhana <keyword id="135627" type="General" weightage="20" keywordseo="motherson" source="Orion">Motherson</keyword> International on Friday said it has inked a pact to fully acquire Bengaluru-based Rollon Hydraulics for an undisclosed amount. Rollon is engaged in manufacturing, assembly and supply of high-precision turned parts, spools, and other machined components with critical engineering applications for the agriculture and off- Highway segment from its two facilities based out of Bengaluru. "Our focus on being a solutions provider to our customers has been a driving force for this acquisition. We are getting access to a new industry segment of construction and material handling for our precision metal business," Motherson Chairman Vivek Chaand Sehgal said in a statement. The company believes this business is highly synergistic with Motherson's existing business and offers ample opportunities to grow this business in India, Mexico &amp; other geographies, he added. "This is our fifth acquisition in India in the past 12 months, reaffirming India's importance in our future plans," Sehgal noted.

Auto component maker Motherson to acquire Bengaluru-based Rollon Hydraulics

Geneva [Switzerland], June 29 (ANI): Aspartame, one of the world's most common artificial sweeteners, is set to be declared a possible carcinogen next month by a leading global health body, pitting it against the food industry and regulators, reported Reuters. Aspartame is used in products from Coca-Cola diet sodas to Mars' Extra chewing gum and some snapple drinks. The <keyword id="665762" type="General" weightage="50" keywordseo="international-agency-for-research-on-cancer" source="Orion">International Agency for Research on Cancer</keyword> (IARC) and the <keyword id="43588" type="General" weightage="50" keywordseo="world-health-organization" source="Orion">World Health Organization</keyword>'s (WHO) cancer research arm will list it as "possibly carcinogenic to humans" for the first time in July, according to two sources with knowledge of the process. Following a meeting of the group's external experts earlier this month, the IARC ruling is intended to assess whether something is a potential hazard or not, based on all the published evidence. It does not take into account how much of a product a person can safely consume. This advice for individuals comes from a separate WHO expert committee on food additives, known as the Joint WHO and Food and Agriculture Organization's Expert Committee on Food Additives (JECFA), alongside determinations from national regulators, Reuters reported. In the past, similar IARC rulings for different substances have raised concerns among consumers about their use, led to lawsuits, and pressured manufacturers to recreate recipes and swap for alternatives. This has led to criticism that the IARC's assessments can be confusing to the public. JECFA and the WHO committee on additives are also reviewing aspartame use this year. Its meeting began at the end of June and is due to announce its findings on the same day that the IARC makes public its decision on July 14, as per Reuters. Since 1981, JECFA has said aspartame is safe to consume within accepted daily limits. For example, an adult weighing 60 kg (132 pounds) would have to drink between 12 and 36 cans of diet soda - depending on the amount of aspartame in the beverage - every day to be at risk. Its view has been widely shared by national regulators, including in the United States and Europe. An IARC spokesperson said both the IARC and JECFA committees' findings were confidential until July. But they added that they were "complementary", with IARC's conclusion representing "the first fundamental step to understand carcinogenicity". The additives committee "conducts risk assessment, which determines the probability of a specific type of harm (e.g., cancer) to occur under certain conditions and levels of exposure," Reuters reported. Whereas, industry and regulators fear that holding both processes at around the same time could be confusing, according to letters from U.S. and Japanese regulators seen by Reuters. Nozomi Tomita, an official from Japan's Ministry of Health, Labour and Welfare wrote in a letter on March 27 to WHO's deputy director general, Zsuzsanna Jakab, "We kindly ask both bodies to coordinate their efforts in reviewing aspartame to avoid any confusion or concerns among the public." The letter also called for the conclusions of both bodies to be released on the same day, as is now happening. The Japanese mission in Geneva, where the WHO is based, did not respond to a request for comment, according to Reuters. However, Frances Hunt-Wood, the secretary general of the <keyword id="17858097" type="General" weightage="50" keywordseo="international-sweeteners-association" source="Orion">International Sweeteners Association</keyword> (ISA) said, "IARC is not a food safety body and their review of aspartame is not scientifically comprehensive and is based heavily on widely discredited research," The body, whose members include <keyword id="6042988" type="General" weightage="50" keywordseo="mars-wrigley" source="Orion">Mars Wrigley</keyword>, a Coca-Cola unit and Cargill, said it had "serious concerns with the IARC review, which may mislead consumers". Kate Loatman, the International Council of Beverages Associations' Executive Director said public health authorities should be "deeply concerned" by the "leaked opinion", and also warned it "could needlessly mislead consumers into consuming more sugar rather than choosing safe no-and low-sugar options," Reuters reported. Aspartame has been extensively studied for years. Last year, an observational study in France among 100,000 adults showed that people who consumed larger amounts of artificial sweeteners including aspartame had a slightly higher cancer risk, according to Reuters. Furthermore, it followed a study from the <keyword id="17858098" type="General" weightage="50" keywordseo="ramazzini-institute" source="Orion">Ramazzini Institute</keyword> in Italy in the early 2000s, stating that some cancers in mice and rats were linked to aspartame. However, the first study could not prove that aspartame caused the increased cancer risk. The questions were raised about the methodology of the second study, including by EFSA, which assessed it, reported Reuters. The IARC said it had assessed 1,300 studies in its June review. Aspartame is authorized for use globally by regulators who have reviewed all the available evidence. Also, major food and beverage makers have for decades defended their use of the ingredient. The soft drinks giant Pepsico tweaked recent recipes which demonstrated the struggle the industry has when it comes to balancing taste preferences with health concerns. Pepsico removed aspartame from sodas in 2015, bringing it back a year later, but removed it again in 2020, according to Reuters. Sources close to the IARC said that Aspartame has been listed as a possible carcinogen which is intended to motivate more research, which will help agencies, consumers and manufacturers draw firmer conclusions. But it will also likely ignite debate once again over the IARC's role, as well as the safety of sweeteners more generally. Last month, the WHO published guidelines and advised consumers to not use non-sugar sweeteners for weight control. The guidelines caused an uproar in the food industry, which argues that they can be helpful for consumers wanting to reduce the amount of sugar in their diet, reported Reuters. (ANI)

WHO's views on sweetener Aspartame may pit it against the food industry and regulators

<a href="https://www.businessinsider.com/category/innovation-leaders"></a><div type="image" title="Robin Saluoks is co-founder and acting CIO of the climate technology company eAgronom." height="3574" width="4765" msid="93060919" hostid="261" sizebytes="1044870"></div><ul class="summary-list"><li>Robin Saluoks is cofounder and CEO of eAgronom, a climate technology company based in Estonia that helps farmers break into sustainable production.</li><li>In a recent interview with Insider, Saluoks gave us a bird's eye view of his company's journey and his approach to driving innovation. </li></ul>Robin Saluoks is cofounder and CEO of climate technology company eAgronom, which helps farmers build more sustainable businesses using AI and other innovative technologies. The company has more than 1,500 agribusiness customers managing 1m+ hectares of land across Europe. In a recent interview with Insider, Saluoks gave us a bird's eye view of his company's journey and his approach to driving innovation for local farmers:<h3>What is the biggest business challenge you're facing at the moment, and how are you tackling it?</h3>One of the biggest business challenges we face is finding ways to better connect stakeholders working on genuine climate targets with partners who work on projects that sequester CO2 from the atmosphere. More specifically, we are working with farmers who want to bring sustainable changes to their farms but struggle to do so in a way that makes sense for them in the short term and profitably.<h3>How does tech help you drive innovation?</h3>We are developing tools to calculate emissions on farms and verify if the data is correct to produce <keyword id="14530199" type="UNKNOWN" weightage="60" keywordseo="carbon-credits" source="Orion">carbon credits</keyword> aligned with guidelines. Our core technology revolves around data collecting and data verifying tooling for land use management, which is easy for farmers to plug in and perform their own data analysis for measuring, reporting, and verification (MRV). We also integrate machine learning and satellite monitoring into our platform to make data more robust.<h3> What are your current growth plans?</h3>Earlier this year, we raised a Series A round of funding to help us optimize the farmer onboarding process, set up new global dealerships, and launch the eAgronom Carbon Program. We have also launched a program to finance high-quality carbon sequestration projects by pre-purchasing the credits, so that farmers and landowners no longer need to wait for five years or more to receive the funds and can get started on future-proofing their farms today.<h3>Who do you partner with internally and externally to drive business and tech decisions?</h3>As a climate tech working in farm management, we have always believed that it should be farmers first. As we scale and partner with other business stakeholders, we continue to work hand-in-hand with farmers to understand their needs and deliver practical solutions. Dealing with solutions for the climate, we also work with scientists from different universities and data experts to avoid greenwashing and strengthen genuine climate commitments. We are engaging with highly-credible external auditors to verify the Carbon Removal Units (CRUs), as well as organizations that set carbon accounting standards.<h3>How excited are you about the technology of the future and what it means for your business and your sector?</h3>As an optimist, I see enormous growth opportunities ahead in the agritech and climate tech sectors. Brilliant solutions are being developed across the industry — from carbon sequestration and storage to green energy solutions — and not just on the technology side. We are also seeing a major integration of agroecological knowledge in the industry. For me, this is an excellent sign that more people from different backgrounds are collaborating to produce solutions ready to be used in the market.

Cofounder and CEO of climate technology company eAgronom uses 'farmers first' mindset to drive innovation and lower barriers to sustainable agriculture

Budget carrier SpiceJet on Monday said its subsidiary <keyword id="6866514" type="General" weightage="20" keywordseo="SpiceXpress" source="Orion">SpiceXpress</keyword> and Logistics will receive USD 100 million investment from a UK-based group. SpiceJet, which is facing financial headwinds and an insolvency plea by an aircraft lessor, had recently hived off SpiceXpress. Also, last week, the airline said it has no plans to file for insolvency and would invest USD 50 million to revive 25 grounded planes. The United Kingdom-based SRAM &amp; MRAM Group will invest USD 100 million in SpiceXpress. Both sides have signed a Memorandum of Understanding (MoU) as part of the investment deal, the airline said in a release on Monday. The MoU also comes after a debt restructuring agreement between the carrier and aircraft lessor Carlyle Aviation Partner wherein the latter bought a stake in SpiceXpress at an anticipated future valuation of USD 1.5 billion (Rs 12,422 crore). SpiceJet Chairman and Managing Director Ajay Singh said the USD 100 million investment should help SpiceXpress to grow further and expand and provide a more streamlined and efficient service to its customers. SRAM &amp; MRAM Group has interests in agricultural and agro-food products, neural networks, artificial intelligence, hedge fund management, hospitality services and solutions, media and publishing, among other areas. So far this month, lessors have sought deregistration of five SpiceJet planes, a development that also comes against the backdrop of crisis-hit rival Go First shuttering operations and going for resolution proceedings under the insolvency law. SpiceJet stock was trading at Rs 30.27, up 2.33 per cent on BSE. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/fii-inflows-may-remain-consistent-in-may-with-turn-in-rate-cycle/articleshow/100234813.cms">FII inflows may remain consistent in May with turn in rate cycle</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/tata-motors-posts-net-profit-of-5408-crore-in-q4-beats-estimates/articleshow/100189259.cms">Tata Motors posts net profit of ₹5,408 crore in Q4, beats estimates</a>

SpiceJet subsidiary SpiceXpress to get USD 100 mn from UK group

<a href="https://www.businessinsider.com/financing-a-sustainable-future-2022"></a><div type="image" title="A field of organic cilantro" height="1080" width="1920" msid="92046740" hostid="261"></div><ul class="summary-list"><li><keyword id="11975833" type="UNKNOWN" weightage="60" keywordseo="chipotle" source="Orion">Chipotle</keyword> recently increased its executive bonus potential from 10% to 15%, based on how well the company does against its environmental, social, and governance goals.</li><li>The restaurant chain's community initiatives focus primarily on helping farmers transition to <keyword id="6359810" type="UNKNOWN" weightage="60" keywordseo="organic-farming" source="Orion">organic farming</keyword>.</li></ul>When companies set out to help communities prosper, it's essential that their executives are truly on board.Chipotle Mexican Grill ties its executive bonuses to progress toward its environmental, social, and governance (<keyword id="12011554" type="UNKNOWN" weightage="60" keywordseo="esg" source="Orion">ESG</keyword>) targets. The bonus scheme is just part of an overall culture shift that has refocused the company on its commitments to all its stakeholders. In February, the company raised the bonus potential for its leaders from 10% to 15%, based on how well the company meets is goals across a range of categories, including reducing emissions, improving diversity, equity, and inclusion, and increasing the amount of local and organic food it serves in its restaurants. Chipotle is into its second year under this bonus structure, and Marissa Andrada, chief diversity, inclusion, and people officer, said transitioning to it wasn't as hard as one might have expected. "For us, it's this really big commitment to living out our purpose," she said. "It's only natural that we actually put our money where our mouth is and hold ourselves accountable."Andrada credits the culture change that took place after CEO Brian Niccol took over in 2018, following a difficult period for the company where it faced food-safety problems that resulted in sales declines. "We layered in people with integrity [into the company]," she said.<keyword id="11896309" type="UNKNOWN" weightage="100" keywordseo="sustainability" source="Orion">Sustainability</keyword> goals are interlinked. In order for sustainability initiatives to be effective, they have to reflect the company's own culture. If a company lacks diversity, its opportunities to innovate and drive sustainability can be more limited. Diversifying the company's leadership ranks was one of Niccol's early goals."Our old leadership wasn't very diverse," said Andrada. "We made the decision to do a hard reset." Chipotle moved its headquarters from Denver, CO to Newport Beach, California the same year that Niccol joined, in part so that it could attract top talent. Andrada said the company enlisted a network of minority- and female-owned boutique search firms to fill leadership positions and has increased diversity at the leadership levels by 50%. <h2>Focus on the farming community</h2>Supporting farmers is Chipotle's primary community imitative, and its inception actually predates Niccol's tenure. But the programs have accelerated since then, as have the problems that farmers face. "Over the last several years, US <keyword id="11963490" type="UNKNOWN" weightage="60" keywordseo="agriculture" source="Orion">agriculture</keyword> lost 40 times more farmers than it gained, challenging the future of small and mid-sized farms throughout the country," Chris Brandt, Chipotle's chief marketing officer,said. "Chipotle sources more local produce than any other national restaurant brand and our ability to serve real food relies on these local farms."Lena Brook, director of food campaigns for the nonprofit advocacy group <keyword id="14130986" type="UNKNOWN" weightage="60" keywordseo="nrdc" source="Orion">NRDC</keyword> (Natural Resources Defense Council), has been following Chipotle since 2015 when it led the fast-food industry in the use of antibiotic-free beef and chicken."They have been an early adopter for the industry. Now their work on organic farming and their support of farmers is using procurement to positively impact local and regional economies and food systems," Brook said. "Given the state of our world, their procurement practices are also helping with food security."In the sustainability report update, Chipotle said it has so far spent $1.3 million on the next generation of farmers as part of a five-year, $5-million commitment. It increased the total pounds of produce purchased from local farmers by more than 4.7 million pounds between 2020 and 2021.Brandt said the company also partnered with growers "to convert 110 acres of conventional farmland to organic farmland via transitional growing methods in 2021."Chipotle also offers three-year contracts to young farmers, including beef, pork, and dairy. Brook says farms need to be managed organically for that length of time in order for their crops to be certified as organic. "Three-year contracts help mitigate the risk for young farmers looking to transition to organic," she said. "The longer-term contracts take the risk out of farming, and provide that incredibly important stability to keep them farming."Julia Hood contributed reporting to this story.

Chipotle incentivizes executives to support farmers going organic — and it's upped the stakes

Starting with a family, which had a dealership of Bajaj Auto's scooters, to becoming the owner of a household name in consumer appliances who could afford to have <keyword id="143" type="General" weightage="50" keywordseo="bollywood" source="Orion">Bollywood</keyword> superstar <keyword id="1671" type="General" weightage="50" keywordseo="shah-rukh-khan" source="Orion">Shah Rukh Khan</keyword> as the brand ambassador, <keyword id="15333" type="General" weightage="50" keywordseo="venugopal" source="Orion">Venugopal</keyword> <keyword id="18489" type="General" weightage="100" keywordseo="dhoot" source="Orion">Dhoot</keyword>'s is a story of an aggressive small town businessman's pursuit to be on the top. Now arrested in connection with the ICICI Bank loan fraud case, Venugopal Dhoot during his heydays was not the one to simply sit on small achievements like <keyword id="6354248" type="General" weightage="80" keywordseo="videocon" source="Orion">Videocon</keyword> becoming the largest television set manufacturer in India. The eldest son of late Nandlal Madhavlal Dhoot, who founded the <keyword id="6379256" type="General" weightage="50" keywordseo="videocon-group" source="Orion">Videocon Group</keyword> in 1984, Venugopal was largely responsible for driving the conglomerate to diversify into various verticals, such as oil and gas, real estate and retail, beyond its successful consumer electronics and home appliances business. Dhoot, the safari-suited businessman, was born into an agricultural family in Ahmednagar (Maharashtra), where his father had a cotton ginning mill and operated a wholesale grain trade. In 1982, when the public broadcaster Doordarshan began transmitting colour television programmes in India, it opened a new segment. Here the Dhoot family tried their luck in the uncharted territory of manufacturing conventional tube-based colour TV sets. Dhoot who had an engineering degree from the University of Pune set off to Japan for a year to be trained at electronics companies. In 1986, he founded Videocon International, which aimed at manufacturing 1,00,000 TV sets a year. It entered into technical collaboration with the Japanese major Toshiba and from here there was no looking back. From colour TV sets, Videocon in the 1990s expanded into other verticals, such as refrigerators, washing machines, air conditioners, home entertainment systems and other small appliances. It pushed contemporary rivals like Mirc Electronic (Onida), Salora, Weston etc with affordable pricing. Its TV models like Bazooka and Bazoomba were the market's favourites in the early 90s. After having success in its consumer electronics and home appliances business, Dhoot expanded Videocon Industries into other areas, such as Oil &amp; Gas, cellular services and others. However, Dhoot's downfall started when it entered into the cellular service area with Videocon Telecommunications. It could launch commercial services only in 11 out of the 18 circles it held licences. In 2012, after the 2G spectrum case, the Supreme Court cancelled 122 licences issued by the central government in 2008, 21 licences belonged to Videocon. In the 2012 spectrum auction, Videocon won back licences in 6 circles but sold to the market leader <keyword id="6354287" type="General" weightage="50" keywordseo="bharti-airtel" source="Orion">Bharti Airtel</keyword> and shut down operations. Moreover, in the late 90s South Korean giants like LG Electronics and Samsung entered the Indian market, which disrupted consumer electronics and appliances with the latest technology and quality products at affordable pricing. Though Videocon Industries had several verticals, its main cash cow was the consumer electronics and appliances business. As Videocon failed to face the challenges from rivals Sony, LG and Samsungs, its revenue got stagnated and gradually it sat on a pile of debt. Dhoot tried to pair debts by selling some of his assets. The company merged its DTH business with Dish TV. They sold ownership in some of their gas fields and telecom business, but it did not work. Finally, in 2018, it was dragged to the insolvency tribunal NCLT by its creditor. It owed around Rs 31,000 crore to the banks, including interests. At the request of lenders, the National Company Law Tribunal (NCLT) has conducted a consolidated corporate insolvency resolution process by combining Videocon Industries and the other 12 Videocon group companies. In June 2021, a bid of merely Rs 2,692 crore from billionaire Anil Agarwal's Twin Star Technologies to take over Videocon Industries was approved by the NCLT. This also went into controversy. Earlier this year, the National Company Law Appellate Tribunal (NCLAT) had set aside Twin Star's Rs 2,692 crore bid, directing to invite fresh bids. Though it was challenged before the Supreme Court by Twin Star, the creditors of Videocon Industries are still looking for a buyer. According to some sources, the lenders may even consider liquidation, if they fail to find a buyer for the company, which once was a success story. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/icici-bank-videocon-case-cbi-seeks-three-day-custody-of-videocon-chairman-chanda-and-deepak-kochhar/articleshow/96519994.cms">ICICI Bank-Videocon case: CBI seeks three-day custody of Videocon chairman, Chanda and Deepak Kochhar</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/money-view-raises-75-million-in-series-e-funding/articleshow/96516790.cms">Fintech company Money View raises $75 million in Series E funding led by UK’s Apis Partners</a>

From an industry leader to a defaulter: Rise and fall of Venugopal Dhoot

<ul><li><keyword id="11931339" type="General" weightage="20" keywordseo="delhivery" source="Orion">Delhivery</keyword> to acquire <keyword id="118965" type="General" weightage="20" keywordseo="supply-chain" source="Orion">supply chain</keyword> solutions provider, Algorhythm Tech.</li><li>The company said the transaction is expected to be completed by 31st Jan 2023.</li><li>Algorhythm offers end-to-end supply chain planning and execution products to clients across FMCG, pharma, steel, auto, and telecom sectors.</li></ul>Delhivery, India's fully-integrated logistics service provider, will acquire the Pune-based Algorhythm Tech, which delivers intelligent planning and optimization solutions for enterprise supply chain operations. The company said the transaction is expected to be completed by 31st Jan 2023. This would be a 100% acquisition post which Algorhythm Tech will operate as a wholly owned subsidiary of Delhivery Limited. Founded in 2003 by Abhaya Borwankar, Ajit Singh, and Sandeep Pendurkar, Algorhythm offers end-to-end supply chain planning &amp; execution products to clients across FMCG, pharma, steel, auto, and telecom sectors, through its proprietary Rhythm 3.0 platform. Commenting on the announcement, Sandeep Kumar Barasia, Executive Director and Chief Business Officer, said, “We congratulate Abhaya, Ajit, and Sandeep on building a truly differentiated product offering with a great depth and breadth of coverage across industry sectors and use cases. Given that technology has and continues to be our core business differentiator, Algorhythm Tech’s SCM software products will enhance our Supply Chain Solutions offering with value-added services and also drive cost optimization in service delivery. These SCM products are increasingly becoming vital for supply chain planning and optimization. And our clients will have the option of availing the benefits of these as part of our Integrated Solutions platform.” Delhivery's Supply Chain Solutions business combines warehousing and transportation operations, infrastructure, network, and technology with deep data science and business intelligence capabilities. Enabling the company to provide comprehensive and integrated logistics solutions that improve its customers’ supply chain reliability, speed, and efficiency. Ajit Singh, co-founder, Algorhythm Tech, added, “Delhivery has made great strides to emerge as the largest logistics provider in India in a decade, and we can think of no better team or company to work with to accelerate our joint vision for the future.” SEE ALSO: <a href="https://www.businessinsider.in/tech/news/google-for-india-goes-heavy-on-ai-from-reading-handwritten-prescriptions-to-enhancing-agricultural-capabilities-heres-all-you-need-to-know/articleshow/96362495.cms">Google for India goes heavy on AI — From reading handwritten prescriptions to enhancing agricultural capabilities, here’s all you need to know</a> <a href="https://www.businessinsider.in/tech/gadgets/news/upcoming-new-games-in-2023/articleshow/95999256.cms">Top upcoming games in 2023: Here’s what PC, PlayStation, and Xbox users should expect</a>

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