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<ul><li>Last week, <keyword id="178761" type="COMPANY" weightage="20" keywordseo="Hindustan-Unilever-Limited">Hindustan Unilever Limited</keyword> (HUL) launched its first in-store vending machine model, <keyword id="11605454" type="UNKNOWN" weightage="20" keywordseo="smart-fill-machine">Smart Fill machine</keyword>, for its Home Care products with the aim to reuse, reduce and recycle plastic.</li><li>We talk to Prabha Narsimhan – Executive Director (Home Care) for Hindustan Unilever and Vice President (Home Care) for Unilever South Asia about the company's latest sustainable projects, how HUL has been focusing on becoming a sustainable company at a larger level, and future goals.</li></ul>Earlier this year, Hindustan Unilever Limited had announced that it would collect and process more plastic packaging waste than what it uses in a bid to achieve 100% plastic waste collection by the end of 2021. HUL has taken one more step forward towards sustainability and achieving this plastic waste neutrality goal. The FMCG giant has launched an in-store vending machine model, Smart Fill machine, for its Home Care products. It allows consumers to reuse and recycle plastic. According to Terrin.org, around <a href="https://www.teriin.org/sites/default/files/files/factsheet.pdf">43%</a> of manufactured plastic in India is used for packaging purposes, and is mostly single-use plastic. India produces an estimated 62 million tonnes of municipal solid waste annually, which is likely to reach 165 million tonnes by 2030. With this growing concern around plastic pollution generated by companies, more and more brands are realising the importance of becoming sustainable and relooking at their packaging strategy. The ban on single-use plastic has also further pushed manufacturers to look at green alternatives. So, to do its bit for the environment and undo some of the damage caused by plastic, HUL’s Smart Fill machine will allow its consumers to reuse their plastic bottles by refilling products from its brands like Surf Excel, Comfort and Vim, to begin with. <div type="Youtube" id="Bkjlj6S5c5E" title="HUL‘s ‘Smart Fill’ machine empowers consumers to reduce plastic waste" thumbUrl="https://i.ytimg.com/vi/Bkjlj6S5c5E/mqdefault.jpg"></div> The vending machine has been installed at Reliance Smart Acme Mall in Mumbai and the project is currently in pilot stage. Sharing how HUL is slashing its product prices to nudge consumers to switch, Prabha Narsimhan – Executive Director (Home Care) for Hindustan Unilever and Vice President (Home Care) for Unilever South Asia said, “As an incentive, consumers are being offered Rs 30 off on the MRP or effective price at the store if they get their own bottle and Rs 15 off to those who purchase the Smart Fill bottle. The flagship brands that consumers can avail these benefits on include Surf Excel liquid for Top Load and Front Load washing machines; Comfort Fabric Conditioner and Vim Dishwash Liquid Gel.” The COVID-19 pandemic has added a safety dimension to sustainability that consumers and organisations must now balance. However, for HUL, the timing couldn’t be more perfect to launch this pilot. Sharing why, Narsimhan said, “COVID-19 in general has been difficult for businesses and brands across sectors. After most COVID-19 restrictions were lifted, we have continued our on-ground efforts with health guidelines in place, for elimination of plastic litter. All our plastic waste collection partners mobilized their resources to minimize disruption without risking the health of their staff members and partners. In fact, COVID has improved our focus on responsible disposal of waste, which is why we feel it is a good time to start this pilot.” After gauging the response at Reliance Smart, the project will be implemented across the country. Narsimhan said, “We believe that upstream interventions such as shifting from single use towards re-use and refill models can be one of the most impactful solutions to plastic waste from an environmental, economic, and social perspective. This project will serve as an ideal pilot to gather learnings and use them to replicate it across the state and the country. Given that this is our first initiative, we have partnered with Reliance. In fact, we had partnered with Reliance Smart across 3 cities, in 2019 to carry out an awareness drive amongst customers on the importance of segregation of waste at the household level for effective waste management. Continuing with our shared vision to manage plastic waste, we have collaborated with Reliance Smart for this pilot project as well. We are hopeful that through our awareness building exercises, we will be able to ensure mass behavioral change in the consumers regarding the role that they can play in curbing this menace. We aim to use learnings from this pilot project in Mumbai to create a scalable refill business model in partnership with prominent retailers and modern trade outlets.” To further promote the cause and get more consumers to visit the mart, HUL has partnered with influencers in the vicinity. Narsimhan shared the marketing plan with us. She said, “One of the key aspects to draw visibility to the vending machine is in-store branding. Our effort would be to make sure that as more and more consumers visit and experience this model, they will be able to help us spread the awareness through word-of-mouth, which we plan to amplify further. We have also tied-up with a few influencers in the catchment areas around the store that will help us create surround sound around the Smart Fill. As the initiative scales up further, we will look at a more broad-based digital campaign that will help us further spread the message across consumers.” Millennials and GenZ today are much more conscious of the brands they choose. Their choice usually depends on how much of an effort a brand is making towards helping the environment and society at large. While Narsimhan agreed that young people are more likely to be the first adopters of refilling, HUL is trying to target all age groups. She said, “Millennials and Gen Zs are by far one of the most conscious consumers we have witnessed in the last two decades. Born in a digital age, this generation is socially aware, more health-conscious and understands the impact of their actions on the environment. All our sustainable interventions are designed to not just cater to their sensibilities, but towards the larger goal of driving real, on-ground impact that is accessible. As for the ‘Smart Fill’ project, we are catering to consumers across demographics including Millennials and Gen Zs. Since Reliance Smart is a retail outlet that garners footfalls across age groups; we intend to bolster awareness and empower our consumers to make smarter decisions when it comes to the issue of plastic waste generation.” But this isn’t the only sustainable effort that the FMCG giant has taken in this year. Walking us through the past action-filled 6 months, Narsimhan shared, “We have substituted commodity polymers with performance-based polymers, optimized the packaging designs and changed the packaging formats of our products to consume less plastic. For example: Pond’s Talc was recognized at the 24th DuPont Global Packaging Award for reducing packaging through innovation. We have developed coating technology to replace the polymer coating in our soap cartons. Our soap bar range cartons in skin cleansing are plastics free. We have started migrating to recyclable flexibles across our portfolio starting with pilots in few brands like soap wrapper of Lux and Lifebuoy, Sunsilk shampoo sachets and Pond’s tubes. We have also started using rPET (80% recycled PET) in our blister packs for personal care brands such as Pepsodent toothbrush, Vaseline lip care. We have launched Vim liquid bottles having 50% rPET. We have initiated use of rHDPE (25% recycled HDPE) in our personal care bottles like Tresemme, Sunsilk, Surf Excel Laundry liquid and Comfort fabric conditioner.” Brands play a huge role in bringing about change in society and Narsimhan said that brands should use that to empower consumers to make better choices. She said, “Consumers relate to brands that resonate with their own way of thinking. Brands that don’t just advocate such ideas but put them into measurable, result-oriented action. Therefore, brands can and must play their part in empowering consumers to make sustainable choices. And one of the key aspects of this empowerment journey is by offering choices that are accessible and hassle-free. With our plastic waste collection initiative and now the refill machine, we are encouraging and empowering our consumers to be a part of this solution. These small changes that consumers make on a day-to-day basis can lead to a sizable impact overall.” When it comes to sustainability, we often hear the three popular R’s – Reduce, Reuse and Recycle in every marketing campaign. Many companies have promoted only recycle and reuse. However, reduce hits at consumption. As a result, HUL has also formulated long-term goals to focus on reduction of plastic. It has committed that by 2025 100% of the company’s plastic packaging is reusable, recyclable, or compostable and halving use of virgin plastic by reducing the absolute use of plastic packaging and accelerating use of recycled plastic. Shedding some light on HUL’s larger sustainability efforts and vision, Narsimhan said, “We are committed to accelerating a transition to a circular economy, moving from the linear take-make-dispose model to a regenerative approach, which keeps materials at their highest value for as long as possible. We recently announced that from 2021 onwards, we will collect and facilitate environment-friendly processing of more plastic packaging waste than the plastic we use in our packaging. Since 2018, we have facilitated safe disposal of more than 1.5 lakh tons of post-consumer use plastic waste with the help of collection and disposal partners across India. We are also working closely with the government and other partners such as the United Nations Development Programme (UNDP) and Xynteo for end-to-end pilot projects for plastic waste management. Apart from this, the Education Department of Maharashtra, HUL and Xynteo have rolled out a digital school curriculum focused on the importance of segregation, collection and safe disposal of waste. The programme reached nearly one lakh children in Maharashtra during its pilot last year and is currently being scaled across the state.”

Hindustan Unilever Limited’s Prabha Narsimhan shares latest steps that the company has taken towards sustainability to achieve its goal of 100% plastic waste collection by the end of 2021

<ul><li>To those who put women through this beauty test during the matchmaking process, Dove asks how much beauty is enough. </li><li>Conceptualised by <keyword id="531122" type="COMPANY" weightage="20" keywordseo="Ogilvy-India">Ogilvy India</keyword>, the ad urges you to look for the beauty, not the flaws!</li></ul>Dove’s latest film walks us through hard-hitting, real stories of beauty-based judgement and rejection faced by women during the matchmaking process, and the impact this has on their self-esteem. <div type="Youtube" id="E3kWzRB6Yy8" title="Dove | #StopTheBeautyTest (Hindi)" thumbUrl="https://i.ytimg.com/vi/E3kWzRB6Yy8/mqdefault.jpg"></div> <cmsannotation type="cmsannotation" annotationid="India's Beauty Test" text="India's Beauty Test">India's Beauty Test</cmsannotation> The search for beauty can often be ugly and diminishing. A recently conducted “India’s Beauty Test (2020) Report” reveals some unsettling statistics about the pressures and anxieties around conforming to a narrow ideal of beauty in the run-up to arranged marriage. An alarming 9 out of 10 single women in India feel that they are judged and rejected based on their looks during the marriage process. Furthermore, 68% claimed that rejections based on beauty during the arranged marriage process impacted their self-esteem and confidence. Dove’s #StopTheBeautyTest, a film born out of conversations with women from across the country, captures some raw situations where women are judged during the matchmaking process for not being beautiful enough. It goes on to emphasize the unspoken impact of these judgements on their self-esteem and body confidence. Through real stories enacted by real women, Dove sends out a powerful message – We must stop putting women through this unjust beauty test. Dove wants to start and sustain this important conversation now. The need for systemic change Acting upon this, Priya Nair, Executive Director, HUL &amp; VP – Beauty and Personal Care South Asia opined, “In a country of 631 million women, it is unfortunate that there is such intense pressure to adhere to one definition of beauty. As owners of some of the largest beauty brands in the country, the onus to make beauty more positive and more inclusive is on us. Dove has always believed that beauty should be source of confidence, not anxiety. With #StopTheBeautyTest, we want to go one step forward in that direction.” Supporting the campaign objective, Dove is partnering with leading matrimonial platforms, based on the shared belief that the matchmaking process should be free of beauty biases. Dove and Shaadi.com have also come together to encourage users on the platform to look beyond body type, complexion, scars on face or hair type and length, to see new sizes and shades of beautiful. In addition, Dove will also help rewrite matrimonial ads free of beauty biases to drive significant change in this direction. To foster change with media, Dove will partner with leading women magazines in India, to celebrate the beauty of women who were not seen as beautiful enough in the run-up to marriage. In an exclusive partnership with UNICEF, the Dove self-esteem project aims to reach 6.25 million girls and boys in schools by 2024 to improve their knowledge and skills so that they enhance their body confidence and self-esteem through education materials to realize their full potential in India.* This comes in conjunction with Hindustan Unilever’s overarching effort to evolve the definition of beauty across its portfolio of brands. The campaign is a progressive step of a larger change that HUL and Dove intend to herald.

Dove's latest ad talks about India's flawed matchmaking process and the impact it has on women's self-esteem and body confidence

<ul><li>The <keyword id="1400873" type="ORGANIZATION" weightage="20" keywordseo="Khadi-Village-Industries-Commission">Khadi Village Industries Commission</keyword> (KVIC) saw a 25% jump in sales to ₹75,000 crore. </li><li>KVIC’s sales are twice that of the largest consumer goods company in India, Hindustan Unilever (HUL). </li><li>The growth in KVIC sales volume can be attributed to the increase in demand for khadi products. </li></ul>The Indian government’s retail division that boasts exclusively of ‘Made in India’ consumer products — Khadi Village Industries Commission (KVIC) — saw a 25% jump in sales in the year ending on 31 March, 2019. In comparison to India’s largest fast moving consumer goods company, Hindustan Unilever (HUL), KVIC’s sales stood at ₹75,000 crore — twice that of HUL’s at ₹38,000 crore. A large part of this explosive growth has come from khadi or handmade products, which grew at their fastest rate ever in the last four years. Khadi in vogue KVIC’s growth in sales is largely due to a rise in demand for khadi products — like papad, honey and cosmetics. Together they accounted for 4.3% of all sales. And, then there’s khadi itself. KVIC is not only selling it in stores but also <a href="https://www.financialexpress.com/industry/spinning-on-khadi-weaves-a-success-story-rs-3200-crore-sales-in-fy19/1527425/">supplying</a> to bigwig fabric companies like Raymond, Arvind Mills and Aditya Birla Fashion. They’re also tying up with state-owned companies — like ONGC, Oil India and even the Indian Post Office — to give out gift coupons to employees, and use khadi for uniforms. Not to mention that khadi is reportedly ‘chic’ fashion in the current era in part due to its comfort. Indian millennials <a href="https://www.indiatoday.in/mail-today/story/khadi-the-fabric-for-india-s-fashionable-and-young-1451881-2019-02-09">look</a> at khadi as an icon of sustainable fashion. Actress Kangana Ranaut is one of the many Indian celebrities who promotes homespun fashion at global film festivals. Make in India and Buy Indian Khadi, a hand spun and hand woven cloth, was one of the weapons of Mahatma Gandhi’s fight for freedom from the British. As a part of the Swadeshi movement, he inspired his countrymen to buy products made by Indians to support the local economy, than allowing Britain to market its own. Today, KVIC is the statutory body responsible for the planning, promotion and organisation of the programmes that aid the use of khadi across. Their growth is also fueled by the current government’s push for local manufacturers with the ‘Make in India’ programme. See also: <a href="https://www.businessinsider.in/local-phone-manufacturing-saves-india-3-trillion-through-make-in-india/articleshow/65517201.cms">Local phone manufacturing saves India ₹3 trillion through Make in India</a> <a href="https://www.businessinsider.in/india-invites-manufacturers-for-6-5-billion-p-75-submarines-contract/articleshow/69883990.cms">Indian government kick-starts ₹450 billion project to make six submarines under Make in India</a> <a href="https://www.businessinsider.in/made-in-india-apple-iphones-wont-be-cheap-enough-for-indian-users/articleshow/67285223.cms">‘Made-in-India’ Apple iPhones may get cheaper but they probably won’t be cheap enough for Indian users</a>

Indians are buying more Khadi than Hindustan Unilever products

Equity benchmark Sensex resumed its record-setting streak on Thursday after a day's pause as gains in index major TCS offset profit-booking in the IT pack following strong results by <keyword id="6354512" type="DOMAIN" weightage="20" keywordseo="Infosys">Infosys</keyword> and Wipro. A broad upmove in global equities and a recovering rupee further propped up the bourses, traders said. Recovering from a shaky start, the 30-share BSE Sensex gained momentum during the day to end at its new lifetime high of 49,584.16, up 91.84 points or 0.19 per cent. Similarly, the broader NSE Nifty rose 30.75 points or 0.21 per cent to finish at a record 14,595.60. TCS topped the Sensex gainer's chart, spurting 2.89 per cent, followed by IndusInd Bank, L&amp;T, ITC, <keyword id="6355199" type="DOMAIN" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword>, HUL and <keyword id="44642" type="DOMAIN" weightage="20" keywordseo="Sun-Pharma">Sun Pharma</keyword>. On the other hand, <keyword id="141968" type="DOMAIN" weightage="20" keywordseo="HCL-Tech">HCL Tech</keyword>, Axis Bank, <keyword id="106317" type="DOMAIN" weightage="20" keywordseo="Asian-Paints">Asian Paints</keyword>, <keyword id="6355596" type="DOMAIN" weightage="20" keywordseo="ultratech-cement">UltraTech Cement</keyword>, Infosys and Tech Mahindra were among the laggards, declining up to 2.63 per cent. Infosys on Wednesday posted a 16.6 per cent rise in consolidated net profit at Rs 5,197 crore for the December 2020 quarter, and increased its revenue growth guidance for FY21 to 4.5-5 per cent on the back of large project wins and strong deal pipeline. Wipro posted an about 21 per cent jump in consolidated net profit at Rs 2,968 crore for the December 2020 quarter, and said the demand environment is improving steadily. Domestic equities witnessed a brisk recovery from the day's low mainly led by a rebound in FMCG and pharma stocks, said Binod Modi, Head- Strategy at Reliance Securities. IT index has been the most surprising as profit-booking was visible in many IT stocks despite strong Q3 numbers and upbeat guidance shared by the managements, he added. "We believe underlying strength of the market remains intact and any correction in the market is likely to be bought out. Sustained recovery in key economic data for Dec'20, better-than-expected 3Q FY21 corporate earnings so far and upbeat managements' commentaries continue to augur well for the market," he said. BSE capital goods, oil and gas, energy, healthcare, FMCG and industrials indices rose up to 1.67 per cent, while metal, basic materials, consumer durables, bankex, teck, finance and IT closed with losses. Broader BSE midcap and smallcap indices jumped up to 0.29 per cent. On the macroeconomic front, the wholesale price-based inflation moderated to 1.22 per cent in December as prices of kitchen staples onion and potato eased, government data showed on Thursday. Meanwhile, Fitch Ratings said the Indian economy will suffer lasting damage from the coronavirus crisis, with growth slowing down after an initial strong rebound next fiscal. Global markets looked beyond US President Donald Trump's record second impeachment and focussed on his successor Joe Biden's proposed USD 2 trillion stimulus programme. Elsewhere in Asia, bourses in Hong Kong, Seoul and Tokyo ended in the positive territory, while Shanghai was in the red. Stock exchanges in Europe were also trading with gains in early deals. The global oil benchmark Brent crude was trading 0.12 per cent lower at USD 55.99 per barrel. The rupee gained for the third straight day and closed 11 paise higher at 73.04 against the US dollar. Foreign institutional investors remained net buyers in the capital markets, snapping up shares worth Rs 1,879.06 crore on Wednesday, according to provisional exchange data. SEE ALSO:<a href="https://www.businessinsider.in/tech/apps/news/the-indian-government-may-call-whatsapp-to-explain-why-its-new-data-sharing-terms-apply-in-india-but-not-in-europe/articleshow/80262586.cms" data-type="tilCustomLink"> The Indian government may call WhatsApp to explain why its new data privacy policy applies in India but not in Europe</a> <a href="https://www.businessinsider.in/politics/world/news/trump-becomes-first-president-to-be-impeached-twice-as-house-charges-him-with-inciting-an-insurrection/articleshow/80260200.cms" data-type="tilCustomLink">Trump becomes first president to be impeached twice as House charges him with inciting an insurrection</a>

TCS, RIL push the market to new records — Nifty inches closer to 14,600

Mumbai, Apr 23 () Equity benchmarks marched higher for the second day on Thursday, helped by IT and banking stocks, as hopes of another stimulus package from the government bolstered investor sentiment amid the coronavirus overhang. The 30-share BSE Sensex surged 483.53 points or 1.54 per cent to close at 31,863.08, a six-week high. The broader NSE Nifty advanced 126.60 points, or 1.38 per cent, to settle at 9,313.90. Kotak Bank was the top gainer in the Sensex pack, rallying 8.59 per cent, followed by TCS (5.97 per cent), Infosys (5.67 per cent), ICICI Bank (4.97 per cent), HCL Tech (3.61 per cent) and ONGC (2.98 per cent). On the other hand, Titan, HUL, PowerGrid, NTPC and L&amp;T were among the top laggards, shedding up to 4.18 per cent. A sharp recovery in the rupee also lifted the market mood, traders said. The rupee soared by 62 paise to settle at 76.06 (provisional) against the US dollar. "Indian benchmark indices traded positive, boosted by financials and IT. Hopes of another stimulus package are giving some support to the markets. "The rising cases of infections are a worry and markets are hoping that it will peak soon. The sustainability of this rally will depend on government measures to boost the economy and support the industries, once we emerge out of the lockdown," said Vinod Nair, Head of Research at Geojit Financial Services. BSE IT, teck, bankex, finance, metal, auto and energy indices closed up to 4.85 per cent higher, while consumer durables, FMCG, power, utilities and telecom lost up to 1.43 per cent. Broader BSE midcap and smallcap indices surged up to 1.35 per cent. On the macro front, Fitch Ratings on Thursday slashed India's economic growth projections to 0.8 per cent in the current 2020-21 fiscal, saying an unparalleled global recession was underway due to the COVID-19 crisis. Meanwhile, to ease fundraising through securities markets, regulator Sebi on Thursday relaxed the period of restriction to six months for raising further capital through buyback from the current one year. This relaxation will be applicable till December 31, 2020, the Securities and Exchange Board of India (Sebi) said in a circular. European markets were mixed ahead of a key Eurozone meeting regarding joint stimulus measures. Bourses in Hong Kong, Tokyo and Seoul ended with gains, while Shanghai closed in the red. International oil benchmark Brent crude futures rallied 8.64 per cent to USD 22.13 per barrel. The death in India toll due to the COVID-19 pandemic rose to 681, while the number of cases in the country climbed to 21,393. Global tally of the infections has crossed 26 lakh, with over 1.83 lakh deaths. ANS ABMABM

Markets maintain uptrend on stimulus hopes; IT, bank stocks spurt

<ul><li>The average purchasing power in India is depleting fast that is likely to affect consumer demand.</li><li>However, benchmark indices Sensex and Nifty have recently hit record levels thanks to a surge in corporate profits, most of which came from cost cutting.</li><li>The sustained fall in household savings, both financial and physical assets like gold or real estate, over the last five years has been worsened by the fall in wages.</li><li>This has led to a sharp fall in consumer confidence and that is bad news for companies looking to sell cars, jewellery, home appliances, and even shares and other financial investments.</li></ul>Forget gross domestic product (GDP) and the high-as-a-kite stock markets. Even the Narendra Modi government likes to <a href="https://timesofindia.indiatimes.com/business/india-business/india-gdp-in-ppp-terms-more-than-bdeshs-govt/articleshow/78671559.cms" data-type="tilCustomLink" target="_blank">cite the country’s purchasing power when cornered</a>. But even that is on a slide, a not-so-merry one. It’s hardly a surprise given the knockout punch that the COVID-19 virus has delivered. Businesses looking to protect their bottomline have laid off a lot of employees, and many of those who still have jobs aren’t earning as much as they used to. On the other hand, <a href="https://zeenews.india.com/markets/sensex-hits-fresh-record-high-tops-44000-level-2325095.html" data-type="tilCustomLink" target="_blank">Sensex has kissed new highs</a> because corporate profits have surged in the latest quarterly statements. However, as Mahesh Vyas from the Centre for Monitoring Indian Economy, a business information firm, pointed out, between July and September 2020, corporate profits grew over 20%, the rebound in wages was just 3.8% after a sharp fall in the preceding quarter. And this is likely to be a continuing trend. As <a href="https://economictimes.indiatimes.com/news/company/corporate-trends/why-companies-profits-have-rebounded-faster-than-wages-during-covid-pandemic/articleshow/79308002.cms" data-type="tilCustomLink" target="_blank">Vyas put it</a>, “The lockdown has taught companies a lesson or two on running business with fewer human resources. These lessons are unlikely to be forgotten.” That’s bad news for companies looking to sell cars, jewellery, home appliances, and even shares and other financial investments. There is more evidence of where the profits are flowing from. All the companies analysed by broking firm Motilal Oswal, put together, saw a decline of 7% in sales but a 16% jump in profit after tax. Simply put, most of the profit came from cost cutting and not a rise in demand. Consumer insights firm Nielsen recently explained the phenomenon. The Indian consumer is trading down in certain segments, those who can are buying larger packs to save money, and opting for more private labels. And that’s visible in the gross margin ⁠— before costs like wages, advertisements and promotion are deducted ⁠— of some of biggest names in consumer products. <table style="width: 233pt;"> </colgroup> <tbody><tr> <td class="xl63" style="height:45.0pt;width:129pt">Company</td> <td class="xl64" style="border-left-width: initial; border-left-style: none; width: 104pt;">July-Sep gross margin change (basis points)</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Bajaj Consumer</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-74</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Agro Tech Foods</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-183</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Jyothy Labs</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">128</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">ITC</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-163</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Dabur</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">9</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">HUL</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-128</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Emami</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">55</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Marico</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-163</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Nestle</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">56</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Colgate</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">344</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Godrej Consumer</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-57</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Britannia</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">176</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Varun Beverages</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-149</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Tata Consumer Products</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-269</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Aggregate</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-220</td> </tr></tbody></table>Source: IIFL, Change compared to same period last year Rational people spend more on discretionary items like cars and appliances when they save more. And the larger pessimism is visible in <a href="https://rbidocs.rbi.org.in/rdocs/Publications/PDFs/CCS09102023E6F5FCA08F4C4BAB9F599F5D9DC754.PDF" data-type="tilCustomLink" target="_blank">the consumer confidence data</a>, put out by the Reserve Bank of India (RBI), which is breaking the charts on the wrong side. People do not expect to spend more on non-essential items even in the next one year. <div type="image" title="rbi ccs" msid="79317971" hostid="261" caption="&amp;lt;p&amp;gt;Indian consumer&amp;#39;s expectation of spending on non-essential items is abysmally low.&amp;lt;/p&amp;gt;"></div> The Indian consumer’s ability or willingness to spend had started eroding long before the pandemic. And, on an average, there has been a steady decline in household savings in India, to a point that this year’s estimate is the lowest since at least 2012. The pinch is much worse for people who are retired, many of whom living on their savings lying at the banks. The interest on long-term fixed deposits make less money compared to the savings account, which is much lower than the current inflation. Essentially, people are paying banks rent to keep their money safe instead of earning from it. <div type="image" title="India household savings" msid="79318175" hostid="261" caption="&amp;lt;p&amp;gt;India household savings, both financial &amp;lt;span class=&amp;quot;redactor-invisible-space&amp;quot;&amp;gt;and in physical assets like gold, are sharply down in the last five years.&amp;lt;/span&amp;gt;&amp;lt;/p&amp;gt;"></div> This should concern markets as well as policymakers. "GDP is an aggregative indicator of economic activity and hides the extent of human misery and the loss of social and human capital caused by the health crisis. Nonetheless, if the projections hold, the GDP would have fallen approximately 6% below its pre-COVID level and it may take years to regain this lost output,” Deputy Governor of the RBI and a member of the Monetary Policy Committee Michael D Patra recently <a href="https://timesofindia.indiatimes.com/business/india-business/rate-cut-will-depend-upon-moderation-in-inflation-rbi-governor-shanktikanta-das/articleshow/78829858.cms" data-type="tilCustomLink" target="_blank">said</a>. The gloom, too, shall pass eventually. But to experience a boom people need jobs, good wages and a feeling of certainty. And that will only come from new corporate investment that can generate employment. And it has to happen sooner than later. Else, India’s famed demographic dividend would have been squandered. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/from-downward-dog-to-upward-boom-influencer-and-teacher-ira-trivedi-shares-how-virtual-yoga-took-off-during-the-lockdown/articleshow/79317417.cms">From downward dog to upward boom — influencer and teacher Ira Trivedi shares how virtual yoga took off during the lockdown</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/from-downward-dog-to-upward-boom-influencer-and-teacher-ira-trivedi-shares-how-virtual-yoga-took-off-during-the-lockdown/articleshow/79317417.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/remembering-ym-deosthalee-the-man-who-struck-the-right-chord-between-music-and-math/articleshow/79306305.cms">Remembering YM Deosthalee, the man who struck the right chord between music and math</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/remembering-ym-deosthalee-the-man-who-struck-the-right-chord-between-music-and-math/articleshow/79306305.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/indra-nooyi-may-be-in-joe-biden-cabinet-heres-a-look-at-her-take-on-some-key-issues-concerning-india-and-us/articleshow/79303469.cms">Indra Nooyi may be in Joe Biden's Cabinet – here's a look at her take on some key issues concerning India and US</a>

There is a lot of money in the share market but not enough in your pocket

What is the role of <keyword id="808508" type="UNKNOWN" weightage="80" keywordseo="Corporations">corporations</keyword> in society? The question has had distinct kinds of responses from varied thinkers. At one end of the spectrum are those, who believe that the role of a corporation is simply to make more profits and thereby maximize shareholder value. 
 
However, this view has taken a serious hit in the aftermath of the global financial crisis. It is because, some thinkers have argued that the 'Shareholder Wealth Maximizing' paradigm needs to be replaced with a more robust understanding of the role of corporations in society. It starts with accepting the role of corporations in society as that of being institutions that produce goods and services that people value and this forms the basis of shareholder value maximization. 
 A new sort of paradigm is thus emerging that focuses on reassessing the role of corporations in society. The paradigm is called 'Creating <keyword id="2875288" type="UNKNOWN" weightage="80" keywordseo="shared-value">Shared Value</keyword> (CSV).' It focuses on bringing together the distinct fields of strategy and society and link the competitive advantage of a firm to its corporate social responsibility. 
 
Often a question arises as to how creating shared value is different of distinct from Corporate Social Responsibility (CSR). CSR aims at giving back to society while CSV aims at co-creating value for society and business. Similarly, the focus of CSV is not just donating money or doing some activities that are distinct from business practices of the corporation but realigning business activities to create societal and economic value. 
 
The idea is that CSV endeavors to alter the role of corporations in a society. It means understanding that corporations operate within the broader construct of society and that whatever is detrimental to society cannot be the basis of sustainable competitive advantage for the corporation/enterprise. Similarly, whatever is good for the societies is good for corporations. Creation of shared value essentially involves the following three principles: 
 
First, businesses/corporations should essentially try to meet the unmet needs of a society. An example is Internet access to people in India. There is an unmet societal need, i.e., access to information. Businesses had tapped into this need and (basically device manufacturers and internet service providers) have co-created immense value by serving the poor at the same time earning revenues. 
 The second way of creating shared value is by redefining productivity along the <keyword id="1195806" type="UNKNOWN" weightage="80" keywordseo="value-chain">value chain</keyword> and reducing risks. An example could be that of <keyword id="45528" type="CITY" weightage="80" keywordseo="GE">GE</keyword> altering its business products to be more efficient and thereby reducing carbon emissions and environmental footprint. Productivity should be looked at and measured not only in value terms but also in ecological and societal terms. 
 A third way of creating shared value is by enabling local cluster development. It means corporations can <keyword id="47916" type="UNKNOWN" weightage="80" keywordseo="invest">invest</keyword> in developing skills through training with their suppliers in clusters. An example could be the strong automotive clusters that were enabled in specific parts of India because of firms helping the ancillary units in their vicinity. 
 CSV is also related to another emerging area of social business and social entrepreneurship. It's understanding helps businesses/companies alter their business models and focus on models that create not just profit but do well to serve societies' needs and remove businesses' adverse environmental impact. These often include underserved as well as the bottom of pyramid markets where businesses create value and serve societies needs. An example could be Hindustan <keyword id="45009" type="CITY" weightage="80" keywordseo="Unilever">Unilever</keyword>'s Sustainable Living Program. Under the program, the company has undertaken initiatives like Project Shakti, whereby rural women, as well as the company, have benefitted immensely. In the program, the rural women are empowered by basic training in running a business. They then go to explain the benefits and do the sales and distribution of the products of the corporation. This way HUL earns revenue as well as provides means of livelihood to approximately 70,000 women entrepreneurs. 
 
The idea has gained significant momentum in the past few years since its inception within the corporations and policymakers. Clearly it is good for the people and societies to interact with corporations to co-create value that is sustainable. The next big evolutionary change for corporations in India will be in realigning their business models to societal needs. It not just appeals to common sense, but is also a remarkably sound business strategy. In light of this an initiative has been launched in India called Shared Value Initiative India (<a href="http://www.sharedvalue.in/">http://www.sharedvalue.in</a>) that aspires to connect the business and community leaders wherein they look at enhancing the economic and social progress of the nation to build a more equitable and sustainable society. 
 
(Dr. <keyword id="209438" type="PERSON" weightage="80" keywordseo="Amit-Kapoor">Amit Kapoor</keyword> is <keyword id="191828" type="POSITION" weightage="80" keywordseo="president-and-CEO">President and CEO</keyword> of India Council on Competitiveness, Honorary Chairman of <keyword id="122492" type="ORGANIZATION" weightage="80" keywordseo="Institute-for-Competitiveness">Institute for Competitiveness</keyword>, India and Chair, Shared Value Initiative India) He tweets @kautiliya and can be contacted at <a href="mailto:amit.kapoor@competitiveness.in">amit.kapoor@competitiveness.in</a>. The article is co-authored with Sankalp Sharma who is Senior Researcher at Institute for Competitiveness) 
 
(Image Courtesy: thaimarketing.in.th)

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