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The total remuneration of ITC Chairman and Managing Director <keyword id="1968926" type="General" weightage="20" keywordseo="sanjiv-puri" source="Orion">Sanjiv Puri</keyword> was increased 53.08% to ₹16.31 crore for financial year 2022-23. Puri drew a basic salary of ₹2.88 crore, perquisites and other benefits of ₹57 lakh and a performance bonus/long-term incentives/commission of ₹12.86 crore from ITC for 2022-23. A year ago, Puri's total remuneration was ₹10.66 crore, which included a basic salary of ₹2.64 crore, perquisites and other benefits of ₹49.63 lakh. However, his performance bonus/commission was ₹7.52 crore only in FY22. During the annual general meeting scheduled for August 11, ITC has proposed a resolution for re-appointment of Puri as a director and also as managing director &amp; chairman for five years or till such earlier date to conform with the policy on retirement from July 22, 2024. Puri was appointed as Managing Director of ITC on July 22, 2019, and his present term will end on July 21, 2024. After Puri, Nakul Anand is the second highest-paid employee of ITC with a total remuneration of ₹8.18 crore for FY23. He is followed by B Sumant with ₹ 7.58 crore. Anand oversees the hospitality and travel &amp; tourism businesses of ITC, while Sumant oversees the paperboards, paper and packaging as well as the personal care and education &amp; stationery products businesses of the company. According to ITC, "Remuneration of KMPs (Key Managerial Personnel) increased by 28% due to impact of revision in remuneration and payment of long-term incentives during the year." Moreover, the number of persons drawing a salary of more than ₹1 crore per annum was over 245 in FY23. In FY22, the number of such employees was around 220. Compared with financial year 2021-22, the median remuneration of employees has decreased 3%, while the average remuneration of employees has increased by 6%. Puri's ratio of remuneration to the median remuneration of all employees is 326:1. As on March 31, 2023, the total number of permanent employees in ITC was 23,725.

ITC CMD Sanjiv Puri drew ₹16.31 crore salary in FY23 - that's a 53% jump from last year

<ul><li><keyword id="78512" type="ORGANIZATION" weightage="20" keywordseo="IIM-Calcutta">IIM Calcutta</keyword> records its highest ever average starting salary at ₹28 lakh this placement season. </li><li>As many as 136 companies visited the campus this year, extending 492 offers. </li><li>Of the total of 439 students, nearly 43 graduates secured job offers with an annual compensation of ₹54.5 lakh. </li><li>One in four offers that were rolled out this year received the starting salaries at ₹41.8 lakh per annum. </li></ul>The placement season brought cheer to the students of top management institute — Indian Institute of Management (IIM) Calcutta. The institute has recorded its highest ever average starting salary at ₹28 lakh this placement season. Of the total of 439 students, nearly 43 graduates secured job offers with an annual compensation of ₹54.5 lakh. In fact, one in four offers that were rolled out this year received the starting salaries at ₹41.8 lakh per annum. As many as 136 companies visited the campus this year, extending 492 offers. “I congratulate our graduating students on receiving such coveted employment offers. These demonstrate the high value of the education imparted at IIM Calcutta and our students' remarkable skills and capabilities,” said Professor Anju Seth, director at IIM Calcutta. <a href="https://www.businessinsider.in/careers/news/indias-best-minds-from-iim-ahmedabad-xlri-mdi-gurgaon-are-heading-to-consulting-firms/articleshow/74055916.cms">IIM-C joins IIM-A, XLRI and MDI securing maximum offers from the consulting sector</a> Consulting firms emerged as the largest recruiters at IIM Calcutta, making up for over 30% of the offers. The top recruiters include Boston Consulting Group (BCG), McKinsey &amp; Co, which also rolled out as many as 50 offers at IIM Ahmedabad. “Introduction of Superset has made our processes even more transparent and efficient. We remain committed to providing better outcomes for our students and recruiters through policy and process changes,” added Abhishek Goel, chairperson CDPO at IIM Calcutta. Other top recruiters were Bain &amp; Co., Kearney, PricewaterhouseCoopers (PwC) and Accenture. This has become a common trend across B-schools. XLRI also attracted the highest number of offers from the consulting domain at 26%, this year. Global multinationals KPMG and PwC were the top most recruiters, rolling out the highest number of offers. This simply mirrored last year’s trend wherein Boston Consulting Group was the leading recruiter. On the other hand, more than half (57%) of the offers at MDI came from companies in the consulting sector. Finance, General Management, Sales and Marketing IIM Calcutta students received 83 job offers from PE firms and other finance companies — accounting for 17% of the total offers. General management and sales and marketing roles added up to 30% of the total offers. These offers came from Aditya Birla Group, Mahindra &amp; Mahindra, Reliance, Vedanta, TrueNorth, Hindustan Unilever, Colgate-Palmolive, ITC, Mondelez, and FIITJEE. Recruiters hiring for finance roles were Bank of America Merrill Lynch, Barclays, Goldman Sachs, Arga Investment Management, Gaja Capital and JP Morgan Chase. In addition to this, 22% of overall offers were rolled out in product management, analytics and operations. Top recruiters included Microsoft, Google, Salesforce, Amazon, Flipkart, Udaan, EXL Service, American Express, HCL, UnitedHealth Group (Optum) and Mastercard. See also: <a href="https://www.businessinsider.in/careers/news/indias-best-minds-from-iim-ahmedabad-xlri-mdi-gurgaon-are-heading-to-consulting-firms/articleshow/74055916.cms">India’s best minds from IIM Ahmedabad, XLRI are heading to consulting firms</a> <a href="https://www.businessinsider.in/careers/news/xlri-students-bag-domestic-and-international-job-offers-with-salaries-over-50-lakhs/articleshow/73974506.cms">XLRI students bag domestic and international job offers with salaries over ₹50 lakh</a> <a href="https://www.businessinsider.in/careers/news/iim-lucknow-iim-kozhikode-mdi-gurgaon-secure-100-placements-offering-2-5-million-as-the-starting-pay/articleshow/73722200.cms">Indian B-schools are beating the slowdown with average salary offers at ₹2.5 million</a>

One in four job offers at IIM Calcutta pays over ₹41.8 lakh per annum

Hindustan Unilever’s (HUL) senior employees are one of the best paid in the industry. HUL has 169 executives who drew eight-digit salaries last year, six times more than its closest rival ITC's 23 crorepati employees, and half of them are less than 40 years of age, according to the Economic Times. The HUL number is also 50% higher than IT major Infosys' 123 eight-digit salary earners and more than double of Wipro's 70. 
 
The firm’s annual report states, 169 managers, representing just 1% of HUL's total workforce, drew home a combined salary of Rs 310 crore. 
This is more than the total employee spends of mid-sized rivals such as Marico, Godrej Consumer and Procter &amp; Gamble Health and Hygiene. "For the kind of talent HUL looks for, the company has to pay top dollars as supply is limited and they have to retain them," Aditya Narayan Mishra, chief executive at CEIL HR Services told the ET adding that HUL has the highest number of crorepati employees in India. 
 
"Since they also create strong leadership within their organisation, retaining them becomes crucial," he said. HUL is often referred to as a 'CEO Factory', having contributed over 400 CEOs within the corporate world. 
 
Despite ecommerce edging out FMCG as the hottest career destination for B-school students, HUL still remains the most preferred company overall in the list for the graduating batch of 2015, fourth year in a row and as a dream company across sectors for the sixth year running, as per Nielsen Campus Track Business School 2015 survey. 
 
"At HUL, the ability to identify, hire, groom and retain the best talent has been honed and developed over several decades and remains one of the most important agenda of my leadership team," Sanjiv Mehta, CEO and MD at Hindustan Unilever, had told the financial daily in March this year. Salaries at HUL are partly linked to the company's performance in sales and profitability, say analysts. 
 
During 2014-15, HUL posted 9% sales growth compared to 7% in the overall FMCG growth with 90% of its portfolio gaining market share. Nitin Mathur, consumer goods analyst at Societe Generale, said: "HUL is unarguably the leader when it comes to understanding the Indian consumption patterns, across economic strata. 
 
Any competitor, either incumbents or startups, would like to leverage on this experience by hiring their executives." 
 
ET in May had reported that ecommerce companies could roll out 500 jobs with salaries of more than Rs 1 crore each this year, according to estimates by five search firms, including RGF Executive Search and Longhouse Consulting. 
 
Also offering jobs with one-crore-plus salaries are Flipkart, Amazon, Snapdeal, Ola, Uber, Quikr, CommonFloor, Yepme, OLX, Junglee, FashionAndYou, Hungama, BookMyShow, Jabong, Cleartrip and Lenskart. 
 
(Image: Think Stock)

169 employees of HUL, earn 8-digit salaries a year!

The final placements at <keyword id="481185" type="ORGANIZATION" weightage="20" keywordseo="Management-Development-Institute">Management Development Institute</keyword> (<keyword id="6510154" type="ORGANIZATION" weightage="20" keywordseo="MDI">MDI</keyword>) in <a href="http://www.businessinsider.in/searchresult.cms?query=Gurgaon+&amp;sortorder=effectivedate">Gurgaon </a>are over and this year students are elated as they bagged top placements. The top international salary offered was Rs 55 lakh ($80,700) by Singapore-headquartered <keyword id="258856" type="COMPANY" weightage="20" keywordseo="Tolaram-Group">Tolaram Group</keyword> and the highest domestic offer of Rs 28.74 lakh was made by <a href="http://www.businessinsider.in/searchresult.cms?query=Colgate-Palmolive&amp;sortorder=effectivedate">Colgate-Palmolive</a>. 
 
The average salary for the institute has shot up considerably as it touched Rs 18.89 lakh from Rs 18.53 lakh last time. 
 
Reportedly, four offers were made by the Tolaram Group, which is in consumer goods, digital services, energy and infrastructure in emerging markets, eight by Anheuser-Busch InBev, the world's largest brewing company. Also <a href="http://www.businessinsider.in/searchresult.cms?query=Johnson+%26+Johnson&amp;sortorder=effectivedate">Johnson &amp; Johnson</a> Dubai, <a href="http://www.businessinsider.in/searchresult.cms?query=Philips+&amp;sortorder=effectivedate">Philips Lighting </a>and <keyword id="6444941" type="COMPANY" weightage="20" keywordseo="Pernod-Ricard">Pernod Ricard</keyword> each made one offer for global postings. 
 
According to MDI placements chairperson Kanwal Kapil, 343 students participated in the placement process - 238 from the flagship management course, 60 students from the human resource management course and 45 from the international management course. About 100 students received pre-placement offers based on their performance during summer internships. 
 
He also said that to make up for the decline in the offers made by the companies, more recruiters were invited. Of the 143 companies that participated, 54 were first-timers including <a href="http://www.businessinsider.in/searchresult.cms?query=Aditya+Birla&amp;sortorder=effectivedate">Aditya Birla</a> Fashion Retail, Crompton Greaves, Directi and Hindware. The regulars were <keyword id="6355975" type="CITY" weightage="20" keywordseo="Axis-Bank">Axis Bank</keyword>, ICICI Bank, ITC, <keyword id="50041" type="CITY" weightage="20" keywordseo="KPMG">KPMG</keyword> and <keyword id="113571" type="CITY" weightage="20" keywordseo="Godrej-Industries">Godrej Industries</keyword>, among others.

This B-school saw sharp increase in international offers; highest salary offered was Rs 55 lakh

<ul><li><keyword id="248051" type="PERSON" weightage="20" keywordseo="Ashish-Bhasin">Ashish Bhasin</keyword>, President of AAAI has sent a detailed set of recommendations on behalf of the members of AAAI, to the Union Minister of Information &amp; Broadcasting <keyword id="119642" type="PERSON" weightage="20" keywordseo="Prakash-Javadekar">Prakash Javadekar</keyword>. </li><li>AAAI has asked by way of IT &amp; GST refunds from Government &amp; PSUs for their advertising bills to be settled immediately.</li><li>The recommendation has also asked for a direction to banks and the industry's debtors to provide the much needed cashflow to pay salaries and meet other essential expenses.</li></ul>Everyone has been witnessing with growing alarm the spread of the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> across the globe and in India. Our country has been on a lockdown for a few weeks now and governments, both Central and the States, have taken many effective steps to reduce the impact of this pandemic. But all this is coming at a huge economic cost. The Advertising Agency business, like many other businesses have been seriously affected. The bulk of the agency’s costs are fixed in nature, be it salaries, rent, electricity, communication, upkeep, media audience measurement reports, etc. The income and cash flow has been in serious stress in the last month and unless there is some intervention, many businesses will either file for bankruptcy or will have to undersize considerably. INS and IBF, the media associations representing the interest of Print and TV respectively, have been kind enough to permit AAAI members to pay monies they have collected from their clients and not insist on what is due to them on the due dates. But the continuity of the Agencies business cannot be for long without the help of the Government of India. In this regard, Ashish Bhasin, President of AAAI has sent a detailed set of recommendations on behalf of the members of AAAI, to the Union Minister of Information &amp; Broadcasting Prakash Javadekar. In this he has stressed the importance of advertising industry for the accelerated revival of the economy. “What we have asked the Government is very reasonable. We want principally money that is owed to us by way of IT &amp; GST refunds, and dues from Government &amp; PSUs for our advertising bills to be settled immediately. We have also said that any payment made to us should not suffer any TDS deduction going forward, since there is unlikely to be any significant profit for the year. Further we have sought a direction to banks and our debtors that they provide the much needed cashflow to pay salaries and meet other essential expenses, etc,” said Bhasin. “These do not lead to any revenue loss to the Government. They just need to show a kind heart. The timely help they will provide actually is the help they are providing to the people of India, since advertising is a critical input that can provide a ripple effect in reviving many sectors of the economy,” added Bhasin. One other recommendation made is to treat advertising expenses as an investment and have this cost amortised over the next three years. AAAI believes this will encourage larger advertising outlay which will help revive the economy faster. In the same vein, AAAI also suggested that advertising expenses could be given weighted deduction while computing taxes. The suggestion was that every Rs 100 spent on advertising, should be treated as Rs 200, while computing the taxable income. Here is the complete list of recommendations: 1.0 Advertising is an investment: 1.1 Advertising or brand-building expenses should be treated as an asset and be allowed to be amortized over the next three years. Many companies recognize the enduring benefits of advertising and this will encourage them to invest without fear of considerable decline in profits. This will no doubt spur enhanced consumption thereby accelerating the economic activity. 1.2 The advertisers can also be given an option to account the expenditure on a weighted scale. A Rs 100 expense could be allowed to claim an expenditure of say twice that amount (Rs 200), while computing income tax. This may encourage a higher level of expenditure by profitable companies, which again will accelerate the revival of the economic activity. 2.0 Government dues to be paid 2.1 The TDS on advertising agencies have always been significantly more than the profits they make. Several Crores of Rupees of IT refunds are due to each one of the agencies. Can this be immediately refunded for the past years, including for the Assessment Year 2019-2020? 2.2 Many of the advertising agencies have substantial dues from Government of India, as well as from the Central Government controlled PSUs. Can these be ordered to be released within the next few days? 3.0 Income Tax and GST 3.1 Since profitability and cash flow is going to be poor this financial year, TDS should not be deducted when agencies bills are being paid by advertisers. In any event, Advance Taxes will be payable if applicable as per Income Tax deadlines. 3.2 GST should be allowed to be paid on collection of bills by agencies, as against by 20th after the month of billing. If a firm date is indeed needed, this should be after 60 days from the current due date. 3.3 Government should not block the utilization of GST credit and release all credits blocked so far immediately. 3.4 Government should stall all e-invoicing programs till further notice. This could add to the disruption of the economic revival. 3.5 Transfer of accumulated GST input credit - allow establishments for utilization of accumulated ITC having the same PAN across all the registrations in different States. This will result in free flow of working capital and ease of doing business. 3.6 Speed up all the refund of GST applications within 2-4 weeks. 4.0 Business Credit related 4.1 Our industry is unique in that our credit terms with media owners are pre-fixed, while advertisers are under no legal pressure to pay us on the due date. May we request that the Advertising Service be categorised as an essential service, given the potential it has to revive the economy? And consequently, direct the advertisers to settle agencies’ bill within 45 days of receipt? 4.2 Media houses are much larger entities and therefore there should be a directive to provide additional credit to agencies, should the contra-payment be not available from advertisers. The agency cashflow is fragile and the business could come crumbling down in the absence of such a protection, at this time of economic revival. 4.2 Advertising Agencies, after significant drop in revenue, are struggling to match the cashflows. We would request you to get the banking sector to allow an additional 33% cash credit limit for at least one year, at prime lending rates, without any additional security. The additional cashflow will permit them to steady their business.

Advertising Agencies Association of India reaches out to Government for business continuity

<keyword id="45395" type="CITY" weightage="20" keywordseo="Google-India">Google India</keyword>, the search engine giant has been named as India’s most ‘attractive employer brand’, according to the Randstad Employer Brand Research 2017. This was followed by Mercedes–Benz India as the runner-up. Google India also emerged as the winner of the 7th edition of <keyword id="4465585" type="UNKNOWN" weightage="20" keywordseo="randstad-award">Randstad Award</keyword>, based on this survey. The sectoral specific winners for the most attractive employers this year are Amazon India for E-Commerce, ITC Limited for FMCG and <keyword id="49855" type="COMPANY" weightage="20" keywordseo="philips">Philips</keyword> India for Consumer and Healthcare. The Randstad Employer Brand Research, covering 75% of the global economy with 26 participating countries and more than 1,65,000 respondents worldwide, clearly reflects that this year too, salary and employee benefits continue to be the top driver among the Indian workforce across all profiles while choosing an employer. This is followed by good work-life balance and job security. However, for the IT professionals, good work-life balance emerged as the top priority while choosing an employer. It is interesting to note that the importance accorded to good work-life balance has increased considerably across all work profiles, with this attribute moving up to Rank 2 from Rank 5, as per last year’s findings. The survey findings further reveal that more than a quarter of employees (31%), say that they are not loyal to any one industry or sector and are open to shift industries. Compensation remains a key driver in determining employee loyalty to a sector with 42% of the respondents saying that they are open to a job shift to a completely different industry, only if the pay and benefits are at least similar to what they receive now in their current operating industry or sector. The survey also highlights that the Indian workforce prefers to work for companies operating in sectors like IT (65%), followed by BFSI (63%) and retail &amp; FMCG (62%). Presenting the survey insights, Dr. Moorthy K. Uppaluri, MD &amp; CEO, Randstad India, said, “Employer branding continues to be of strategic importance influencing the talent agenda, particularly so in an economy that’s driven by knowledge workers. Organizations have come to realize the value of employer branding and the return from such investments, both in terms of attracting new talent and retaining. A multi-generational and diverse workplace, the new war for talent, swiftly evolving technology innovations and the evolution of new strategic talent solutions – with these disruptive game changers playing in tandem, the job market has undergone a paradigm shift to become extremely candidate focused. Today, it is critical for employers to have a buffet of choices and an employer brand that’s appealing to various layers of this talent strata”. Dr.Moorthy further added, “At this juncture, understanding workforce trends, expectations and key Employee Value Proposition (EVP) drivers are imperatives for organizations. For the last seven years, our employer brand research has been consistently adding value to this process by capturing the voice of the ecosystem by holding a mirror to the preferences of the current and potential workforce that has helped employers transform themselves into talent magnets”. Key findings from the Survey: -The younger workforce in India, aged 18-24 years is more oriented towards salary and benefits, long-term job security and good training. Workforce between 25-44 years – often the age when parental responsibility becomes significant, look for companies that offer a good work-life balance. - To the mature workforce of India, aged 45-65 years, salary and good work-life balance remain major drivers while choosing an employer. Since this age group might face challenges in finding a new job, they clearly prioritize long-term job security as well. - According to the survey results, large and multinational corporations emerge as the preferred workplace for employees across all profiles. However, IT professionals indicated that they would rather work in the dynamic start-up ecosystem over the SME sector. On the other hand, Engineering talent prefer working in start-ups over the public sector companies, reveals the survey. - The survey reveals that talent across all profiles in the country find company websites as the most trusted channel to verify brand reputation, followed by LinkedIn, which is used extensively by IT and Engineering talent.

Google emerges as the 'Most Attractive Employer'; here's what's making it India's favourite workplace

Corporate India’s relationships with the employees are going beyond workstations. Gone are the days when an office employee’s relationship with his company used to be limited to the salary account and card swipes. In a news report by The Economic Times, corporate companies are reaching to the families of their employees with innovative HR policies. 
As per the news, Ericsson broke the tradition of having bosses hand over promotion letters, and instead mailed them directly to employees' parents. "It is much more satisfying when your family tells you about your promotion," Sameer Khanna, VP and head of HR, Ericsson India told the ET. Companies like Ericsson, Vodafone, <keyword id="28120" type="CITY" weightage="60" keywordseo="Linkedin">LinkedIn</keyword>, <keyword id="6912" type="CITY" weightage="80" keywordseo="maruti">Maruti</keyword>, HCL, ITC and <keyword id="10387" type="CITY" weightage="60" keywordseo="Microsoft">Microsoft</keyword> are using methods ranging from competitions to workshops and events involving employees' near and dear as a motivational tool. Car maker, Maruti has been counselling parents on handling stress before their children's board examinations. Besides, every Saturday, children and parents attend computer training workshops. ITC Hotels has been conducting sessions by investment bankers, doctors and yoga experts, for its associates and families since last year. 
 
The hotel chain had earlier engaged educational experts to mentor the children of its employees in scoring better marks in school. "Families influence the employees and their well being affects the employee's work life," says Anil Sharma, vice president - human resources, hotels division. In 2013, LinkedIn designated November 7 as Bring In Your Parents Day globally, which meant employees were encouraged to invite their parents or grandparents to work. 
 
A LinkedIn study in September 2014 showed parents of employees continue to be the driving force behind their success. Around 60 % of professionals believed their parents have valuable professional advice to offer - they're just not sharing enough of it. 52% of parents surveyed in India felt they have the skills and knowledge that could benefit their children's career. 
 "We believe that relevant, personalised insights materially impact the outcome in a professional's life. Who better than a parent to help make things relevant for you?" Nishant Rao, managing director, <keyword id="278010" type="COMPANY" weightage="60" keywordseo="LinkedIn-India">LinkedIn India</keyword> told the financial daily. The company holds break out sessions with parents, and Rao says connecting at work makes the bond tighter. "Part of it is also about familiarising themselves with how social and digital media are changing and how it all works." 
 
(Image: Reuters)

This is how corporate India is engaging with employees’ families

<ul><li>As the number of Covid-19 cases keep going up in India, various brands and business tycoons have come ahead to donate to help the government in its drive to control the spread of the virus.</li><li>While many companies have created funds to contribute to the PM Cares Fund, a lot of other brands are contributing by donating sanitizers, masks and even food, to help those in the need.</li></ul>The world, as we knew it even till a month back, has changed. With the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">Coronavirus</keyword> outbreak, our country, along with many other countries across the world has announced complete lockdown. The effects of this pandemic, both on the economy, and on human life, will be massive. At the time of writing this report, the number of positive cases in India crossed 1,050, and the death toll stands at 29. And the number is growing with each passing day. While governments across the globe are working tirelessly to come up with ways of minimizing the impact of this pandemic, we have seen many brands come forward, and contribute in different ways, to help out in these trying times. Since we are seeing a lot of brands come up with many initiatives almost every day, we will keep updating this space with the latest happenings. Tata Group: <keyword id="6360722" type="UNKNOWN" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword>, Chairman <keyword id="6383155" type="COMPANY" weightage="20" keywordseo="Tata-Trusts">Tata Trusts</keyword> and Chairman Emeritus Tata Sons, pledged Rs 500 crore to protect and empower all affected communities. The money will be spent on personal protective equipment for medical personnel, respiratory systems for treating increasing cases, testing kits to increase per capita testing, setting up modular treatment facilities for infected patients and knowledge management and training of health workers and the general public. <div type="twitter" handle="RNTata2000" handlename="Ratan N. Tata" image="http://pbs.twimg.com/profile_images/1189494401359208448/AwbXHtpn_normal.jpg" favoritecount="199569" retweetcount="59205" status="The COVID 19 crisis is one of the toughest challenges we will face as a race. The Tata Trusts and the Tata group co… https://t.co/GQ6H6sSFcF" createdat="1585392484000" id="1243852348637605888"></div> Mahindra Group: <keyword id="46425" type="PERSON" weightage="20" keywordseo="Anand-Mahindra">Anand Mahindra</keyword>, Chairman, Mahindra Group said he will donate 100% of his salary to create a fund to help small businesses and self-employed people who are expected to be impacted the most due to the outbreak. He also urged our businesses to also set aside contributions for those who are the hardest hit in their ecosystem. <div type="twitter" handle="anandmahindra" handlename="anand mahindra" image="http://pbs.twimg.com/profile_images/1053583782584807425/-7IRmY5u_normal.jpg" favoritecount="48372" retweetcount="13478" status="Going by various reports from epidemiologists, it is highly likely that India is already in Stage 3 of transmission… https://t.co/hBSwnUb9Vp" createdat="1584860752000" id="1241622104778268672"></div> ITC: ITC is setting up a Contingency Fund of Rs 150 crore to address and manage the challenges arising out of the Covid-19 outbreak. The fund will be utilised primarily to provide relief to the vulnerable and most needy sections of society who have been harshly impacted by the pandemic and have faced significant disruption in their livelihoods. Additionally, the fund will collaborate with District Authorities to provide assistance to the district health and rural healthcare eco-system that reaches out to the weakest sections of society. Furthermore, the brand added that the resources under this fund could also be channelised towards the protection and well-being of the ground forces doing commendable work to reach medicines, groceries, other essential goods, sourcing of agri-commodities and so on for people across the country during the lockdown, by providing protective personal gear and hygiene products to such frontline warriors. Reckitt Benckiser: Reckitt Benckiser has launched the RB Fight for Access Fund to improve access to health, hygiene and nutrition for all. As part of this fund, an additional £32 million has been mobilized to address the urgent collective fight against the spread of Covid-19 by breaking the chain of this fast-spreading infection. In India, the brand will be distributing 10 million units of Dettol Soap to the most vulnerable. RB will also be donating 1 million litres of its disinfectant products including Lizol disinfectant liquid and Harpic toilet cleaners to aid India’s states in fighting this crisis especially in public health institutions and at the frontline with health and sanitation workers. It will donate critical protection equipment, 3.5 million N95 masks with a focus on pharmacists and health care workers. These will be distributed across their major markets. Dettol is also partnering with Bollywood actress, Madhur Dixit to release an engaging public service announcement #ApniSurkashaApneHaath to encourage viewers to practice handwashing. Godrej Group: The Godrej Group announced that it is earmarking a fund of Rs 50 crore for community support and relief initiatives in India. This is an initial outlay and the corporate said that it hopes to supplement it over time. It has been buying and supplying medical equipment and protective supplies for the Brihanmumbai Municipal Corporation (BMC). As a part of the initiative, the group has donated Rs 5 crore to the BMC, donated 115 hospital beds to Maharashtra government hospitals and helped set up a 75-bed quarantine center at the Seven Hills Hospital. Moreover, it has supported the free distribution of 1 million packets of Godrej Protekt Mr. Magic powder-to-liquid hand wash in Maharashtra through partnership with the BMC and Thane Municipal Corporation (TMC), partnered with communities linked to their CSR programmes to support 1.12 lakh beneficiaries across 8 states with hand wash, sanitisers and soap, donated sanitisers to the Mumbai police force, begun ramping up capacity to meet the demand for soap, hand wash and sanitisers and initiated outreach through various networks and hand wash education programmes. Reliance Group: <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> has pledged to donate Rs 5 crore to Maharashtra Chief Minister’s Relief Fund. Led by Nita, Ambani Reliance Foundation has promised to provide a free meal to needy people across the country. Additionally, Ambani has also donated a hospital for the patients battling with infection of Covid-19 and will set up a dedicated 100-bed centre at Seven Hills Hospital in Mumbai, along with a fully-equipped isolation facility in Lodhivali, Maharashtra. Paytm: Paytm said that it is aiming to contribute ₹500 crore to the PM CARES Fund. For every contribution, or any other payment done by consumers on Paytm, the online payment app said it will contribute an extra up to ₹10. <div type="twitter" handle="Paytm" handlename="Paytm" image="http://pbs.twimg.com/profile_images/1242803598083395585/4cWZptzw_normal.jpg" favoritecount="9431" retweetcount="2966" status="Paytm is aiming to contribute ₹500 Crore to the PM CARES Fund. For every contribution, or any other payment done… https://t.co/JrSAJTnO1J" createdat="1585411759000" id="1243933194556248064"></div> PhonePe: PhonePe has launched a #100CrorePledge, urging 10 crore Indian citizens to donate to the PMCARES Fund to show their solidarity in fighting the menace of COVID-19. PhonePe has pledged to contribute Rs 10 for every Indian who donates even Rs 1 to the PMCARES Fund via the PhonePe App using UPI by April 30, 2020. In total, PhonePe has pledged to contribute a maximum of up to Rs 100 crore. <div type="twitter" handle="PhonePe_" handlename="PhonePe" image="http://pbs.twimg.com/profile_images/1228394203421372416/4X3QZazb_normal.jpg" favoritecount="834" retweetcount="306" status="Join our #100CrorePledge &amp; donate to the PMCARES FUND using contactless UPI payments. Remember no contribution is t… https://t.co/b6Z4yD3rMh" createdat="1585405072000" id="1243905146087542785"></div> Zomato: Along with announcing measures to help its partner restaurants, delivery staff, and other daily wage workers in India who are currently income-starved due to the lockdown, Zomato set up ‘Feeding India’, a fund to support families of the daily wage workers in India in the absence of employment opportunities. Known as ‘Feeding India’, the initiative has successfully received more than Rs 6 crore in funds. <div type="twitter" handle="deepigoyal" handlename="Deepinder Goyal" image="http://pbs.twimg.com/profile_images/980757579360972800/TWg-KSki_normal.jpg" favoritecount="1727" retweetcount="1399" status="Please help by donating to 'Feed the Daily Wager' by Zomato Feeding India (@FeedingIndia) and provide food support… https://t.co/8vQRliTLtM" createdat="1585054814000" id="1242436058748317697"></div> Parle: Parle, makers of the much loved Parle-G biscuits announced that it is joining hands with the government to give away 3 crore packets of Parle-G to people in need over the next 3 weeks. The brand made the announcement after PM Narendra Modi made an announcement of the country’s lockdown to prevent the spread of the virus. <div type="javascript" title="Instagram" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> Diageo: Diageo India, the liquor firm that sells McDowell’s whisky and Smirnoff vodka, will produce 3 lakh litres of hand sanitizers to help overcome its shortage in the country due to the Covid-19 outbreak. A stock exchange filing by the company stated that 15 of the liquor firm’s manufacturing units are being repurposed to manufacture hand sanitisers and donation of extra neutral alcohol (ENA). Kansai Nerolac: Kansai Nerolac Paints has announced that it will do an early disbursement of funds to its painter community falling under the Nerolac Premium Painter Pragati (NPP Pragati) Programme. Over 30,000 painters can benefit from Nerolac’s initiative, upto Rs 36,000 approximately. Mankind Pharma: Mankind Pharma has pledged to donate Rs 51 crore to CM Relief fund to manage the outbreak. The brand will be donating ventilators, Personal protective equipment (PPE) and medicines to the states reporting maximum number of positive cases. Mankind Pharma will be working closely with the Governments of Kerala, Maharashtra, UP, Uttrakhand, Bihar, Tamil Nadu, Karnataka, AP, Telangana, Delhi, Haryana, HP, Madhya Pradesh, Rajasthan, Gujarat, Punjab, West Bengal J&amp;K and Orrisa.

How brands are contributing to the fight against Coronavirus

ReutersU.S. President Donald Trump holds up a directive ordering an investigation into the impact of foreign steel on the American economy after signing it in the Oval Office of the White House in Washington, U.S., April 20, 2017.Over the last week, the Trump administration has made a flurry of announcements about trade.Among the statements, Commerce Secretary Wilbur Ross told CNBC that this administration would be more about "enforcement" of trade deals.And now we're experiencing exactly what that means - that the government will "self-initiate" (a trade wonk term) trade enforcement cases against our trading partners. Often those cases are started by companies or industry groups.It also means that the government will open trade investigations into specific industries or goods from other countries.So far the Trump administration has opened trade investigations into three commodities: steel, softwood lumber, and aluminum. In true Trump fashion, the way some of those are being done is not particularly normal.You see, when it comes to how the government conducts trade investigations, classifications matter. Self-initiated trade probes fall under four categories:<ol><li>Anti-dumping: Is a country or company illegally exporting more of a good than they're supposed to?</li><li>Countervailing duty: Is a trading partner government illegally giving an industry in their country a subsidy that gives it an advantage over competitors?</li><li>Safeguard: Is there a sudden spike in the production of a good we should be worried about?</li><li>National security: Is the importation of a good a threat to national security?</li></ol>The investigation and adjudication of these matters falls under the International Trade Commission (ITC) - which consists of three Democrats and three Republicans - and the Commerce Department.Most trade investigations, including the lumber case, fall into the first two of those categories. But the national security justification, which the administration is using for the steel and aluminum cases, is much less common and can have dangerous consequences.<h2>Pick your poison</h2>The softwood lumber case against Canada is a countervailing duty case. Canadian timber lands are state owned, which ultimately makes for cheaper lumber for timber companies, and so the US government is claiming Canada is giving its industry an unfair advantage. The US has tried this argument against Canada before the World Trade Organization a couple of times in the past and lost. <a href="https://www.pol.ulaval.ca/?pid=238">Carl Grenier</a>, a former executive vice-president (1999-2006) of the Free Trade Lumber Council and current professor at the University of Leval in Canada has sat through these negotiations before representing the Canadian lumber industry. He believes that these investigations only serve to raise the price of lumber, and that "only thing they [the timber industry] want is more money.""That's why they keep coming back even though we've beaten them every time," he told Business Insider. "It never seems to die."Countervailing duty cases are supposed to take 315 days according to WTO regulations, but the last time we looked into lumber, under President George H.W. Bush, it took four years.And there are some people in the US who have a problem with the commerce department's move, like the National Association of Homebuilders. After Ross announced the investigation they put out a memo talking about the impact of a counterveiling duty probe on housing construction."If the 20 percent lumber duty remains in effect throughout 2017, NAHB estimates this will result in the loss of nearly $500 million in wages and salaries for U.S. workers, $350 million in taxes and other revenue for the governments in the U.S. and more than 8,200 full-time U.S. jobs," according to Granger MacDonald, chairman of the National Association of Home Builders. "Lumber prices have already jumped 22 percent since the beginning of the year, largely in anticipation of new tariffs, adding nearly $3,600 to the price of a new single-family home."So there's that.ReutersU.S. President Donald Trump speaks before signing a directive ordering an investigation into the impact of foreign steel on the American economy in the Oval Office of the White House in Washington, U.S.<h2>The 'nuclear option'</h2>The steel and aluminum cases are different. They are being done in the name of national security, <a href="https://www.bis.doc.gov/index.php/other-areas/office-of-technology-evaluation-ote/section-232-investigations">under an article</a> of the Trade Expansion Act of 1962. Here's how that works:"The [Commerce] Secretary's report to the President, prepared within 270 days of initiation, focuses on whether the importation of the article in question is in such quantities or under such circumstances as to threaten to impair the national security. The President can concur or not with the Secretary's recommendations, and take action to 'adjust the imports of an article and its derivatives' or other non-trade related actions as deemed necessary."Ross told CNBC that the Trump administration decided to probe aluminum as a matter of national security because "we're down to two smelters in the whole country. Importers are now 55% of the total aluminum market here and many critical things such as the very high purity aluminum that we need for aerospace, we only have one producer. That's not a good formula."(Of course, one could argue that really expensive aluminum is also "not a good formula," but we'll just leave that right where it is.)Trump's reasoning in signing the memorandum to have Ross investigate steel followed <a href="https://www.usatoday.com/story/news/politics/2017/04/20/trump-launches-investigation-into-national-security-threat-chinese-steel/100694400/">much of the same reasoning.</a>Now, the fact that the Trump administration is investigating this as a national security threat has wide ranging implications. Most self-initiated investigations are about anti-dumping or countervailing duties. All that stuff is handled by bureaucrats. Plus, the World Trade Organization has pretty clear guidelines for how to proceed with those investigations.National security on the other hand - that's where the White House can get involved, and where officials can get creative, according to Chad P. Bown, a senior fellow at The Peterson Institute for International Economics."Because there are no clearly accepted guidelines, the justification for use of the national security exception is also difficult to refute," he <a href="https://piie.com/commentary/op-eds/trumps-threat-steel-tariffs-heralds-big-changes-trade-policy">wrote in a recent piece.</a> "It can, therefore, be easily abused. New import restrictions arising under that area of US law really are akin to the 'nuclear option'-their use really puts the entire system of international trade law at risk. "Now why is this the nuclear option? Because these probes are initiated by the government, they give other countries a reason to retaliate in a way they would not be able to against private trade groups. Further, Brown wrote that usually the government is not as good as defending its case as industry groups and companies are."This weakens a 70-year-old US commitment to promote the international rule of law and encourages others to engage in tit-for-tat retaliation. <a href="https://piie.com/publications/policy-briefs/should-united-states-recognize-china-market-economy">China did this repeatedly</a> between 2009 and 2011, harming US exports and workers in sectors as diverse as poultry, autos, and steel," he said.Once that kind of activity is set in motion, it takes a lot of careful diplomacy to end it, and so far this administration hasn't shown that it can be careful about much of anything. <h3>NOW WATCH: <a href="http://www.businessinsider.com/baking-powder-baking-soda-not-same-difference-science-substitute-recipe-2017-4">Here's the difference between baking powder and baking soda - and how to substitute one for another</a></h3> Please enable Javascript to watch this video

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