<ul><li> <keyword id="8294420" type="UNKNOWN" weightage="20" keywordseo="changewhatyoucan">#ChangeWhatYouCan</keyword> is a call-to-arms for Indians to drive positive <keyword id="3279864" type="PERSON" weightage="20" keywordseo="societal-change">societal change</keyword> and champion environmental conservation through EV adoption.</li><li>The campaign talks about making personal changes that contribute to a large-scale transformation.</li><li><keyword id="5287148" type="ORGANIZATION" weightage="20" keywordseo="MG-Motor">MG Motor</keyword> has already launched several initiatives to raise EV awareness amongst Indian consumers</li><li>It is also partnering with key players in the global EV charging landscape to bolster the country’s EV charging ecosystem. </li></ul>India is currently at the cusp of a revolution when it comes to the adoption of EVs and Morris Garages (MG) Motor India’s latest brand campaign might just be the spark that ignites it. Featuring <keyword id="573379" type="PERSON" weightage="20" keywordseo="Benedict-Cumberbatch">Benedict Cumberbatch</keyword> and the soon-to-be-launched MG ZS EV, #ChangeWhatYouCan is a call-to-arms for Indians to drive positive societal change and champion environmental conservation through EV adoption. Revolving around the concepts of <keyword id="2506487" type="PERSON" weightage="20" keywordseo="Green-mobility">green mobility</keyword> and societal change, the campaign’s title encapsulates its core proposition: making personal changes that contribute to a large-scale transformation. With his narration, Cumberbatch stresses the need for a change in existing mindsets and how, one person at a time, these little changes can create a powerful impact on society. The carmaker has already launched several initiatives to raise EV awareness amongst Indian consumers, in addition to partnering with key players in the global EV charging landscape to bolster the country’s EV charging ecosystem. Through the latest campaign, it aims to further encourage EV adoption and catalyse a revolution that has been brewing for some time.

MG Motor continues association with Benedict Cumberbatch, makes a clarion call for EV adoption in India through latest campaign

State-owned <keyword id="20039950" type="General" weightage="20" keywordseo="Bharat-Petroleum-Corporation" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharat Petroleum Corporation" meta.hostid="153" meta.entityid="Bharat Petroleum Corporation">Bharat Petroleum Corporation</keyword> plans to invest Rs 1.7 lakh crore over the next five years to grow its core oil refining and fuel marketing business as well as in 'future big bets' of <keyword id="20115883" type="General" weightage="20" keywordseo="petrochemicals" source="keywords">petrochemicals</keyword> and <keyword id="19895435" type="General" weightage="20" keywordseo="green-energy" source="keywords">green energy</keyword>, its chairman G Krishnakumar has said. At present, Bharat Petroleum Corporation Ltd (<keyword id="19908646" type="General" weightage="100" keywordseo="BPCL" source="keywords" meta.keywordsubtype="org" meta.entityname="BPCL" meta.hostid="153" meta.entityid="BPCL">BPCL</keyword>) owns about 14 per cent of India's oil <keyword id="20064251" type="General" weightage="20" keywordseo="refining-capacity" source="keywords">refining capacity</keyword> and about a quarter of the fuel retailing network. It plans to grow these businesses while foraying into newer areas. The firm is now implementing the first phase of a multi-decade aspirational journey in the form of '<keyword id="22826627" type="General" weightage="20" keywordseo="project-Aspire" source="keywords">Project Aspire</keyword>' - its five-year strategic framework that is based on two fundamental pillars - 'Nurturing the Core' and 'Investing in Future Big Bets', he said in the company's latest annual report. "Our mid-term strategy is on a continuum. While we remain committed to growing our core businesses, which include refining and marketing <keyword id="20037698" type="General" weightage="20" keywordseo="petroleum-products" source="keywords">petroleum products</keyword> and upstream, we are equally focused on our big bets comprising petrochemicals, gas, green energy, non-fuel retail, and digital. "Project Aspire, with a planned capex outlay of around Rs 1.70 lakh crore over five years, will enable us to create long-term value for our stakeholders while preserving our planet for future generations," he said. "A cornerstone of our long-term strategy, Project Aspire, with a Rs 1.70 trillion investment, marks the initial phase of our multi-decade odyssey to shape the energy of tomorrow. This, coupled with our robust balance sheet, fuels our ambition to lead the <keyword id="19951336" type="General" weightage="20" keywordseo="energy-transition" source="keywords">energy transition</keyword>." The company is targeting net zero carbon emissions from its operations by 2040. "BPCL has drawn a net-zero roadmap, which encompasses renewable power, green hydrogen, compressed biogas, carbon capture, utilisation, and storage (CCUS), efficiency improvement and the offsets procurements. This would require a phased capital outlay of approximately Rs 1 lakh crore till 2040, and the company is geared for the same," he said. The firm's bet on continuing investing in core businesses is based on the premise that India's booming economy will drive a 4-5 per cent annual increase in energy demand and petroleum product consumption. Also, the demand for major petrochemical products is expected to rise by 7-8 per cent annually. "This presents a strategic opportunity to expand refining capacity alongside the development of integrated petrochemical complexes," he said. BPCL is implementing new petrochemical projects at two of its three oil refineries. A Rs 49,000 crore ethylene cracker project is being implemented at the Bina refinery in Madhya Pradesh, alongside raising oil refining capacity from the current 7.8 million tonnes to 11 million tonnes annually by 2029. A polypropylene project is being set up at Kochi refinery in Kerala by 2027. "To meet the anticipated demand beyond our planned expansions in Bina and Kochi, we are actively evaluating options for setting up additional integrated refining and petrochemical capacities within the next 5-7 years," Krishnakumar said without disclosing either the investments or the location of such a project. Andhra Pradesh is being speculated as the likely site after Prime Minister Narendra Modi's BJP and regional party TDP stormed to power in the state in recently concluded assembly elections. TDP has been demanding the implementation of a refinery-cum-petrochemical complex that was promised as part of the package when the state was split more than a decade back. "Our investment in the petrochemical project is consistent with our aspiration of becoming a dominant player in India's petrochemical growth story," Krishnakumar said. On energy transition, he said BPCL is targeting to build 2 gigawatts (GW) of <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> capacity by 2025 and 10 GW by 2035. "We are investing nearly Rs 1,000 crore to establish two 50 MW captive wind power plants in Maharashtra and Madhya Pradesh, which will support our refineries in Mumbai and Bina." The firm is also investing around Rs 300 crore in 72 MWp of solar project in Prayagraj, Uttar Pradesh. "Concomitantly, we are executing green hydrogen projects aligned with the National Green Hydrogen Mission. These projects include a 5 MW electrolyser plant at Bina refinery and a green hydrogen refuelling station with an indigenously developed electrolyser at Kochi," he noted. BPCL, he said, is committed to supporting the transition to electric mobility through a robust and accessible charging infrastructure. The company has installed over 3,000 charging stations, including fast chargers for cars and two-wheelers. 900 fast chargers are installed across 120 highway corridors, which helps address the range, discovery and time anxiety of electric vehicle (EV) owners. "Over the next five years, we aim to install 4-wheeler fast chargers at approximately 6,000 retail outlets across 400 highway corridors, prioritising high-traffic corridors like the Golden Quadrilateral and N-S/E-W highways," he said. On biofuels, he said BPCL sells petrol with 20 per cent ethanol blend at 4,279 out of its over 22,000 petrol pumps. It is also building compressed biogas plants using municipal solid waste to make gas that can be used as CNG in automobiles. The firm is also exploring partnerships in the arena. "These combined efforts, along with the upcoming commissioning of a bio-ethanol refinery, positions BPCL as a key player in India's transition to a greener fuel mix, creating a robust ecosystem for the adoption of cleaner fuels across the country," he added. BPCL is establishing a corporate venture capital fund to invest directly in promising startups. "In order to thrive in this complex and challenging business landscape, we will leverage our agility and focus on operational excellence to ensure continued success. Safety and reliability will remain our top priorities, guiding all our actions. We are committed to upholding the highest standards of corporate governance," he added. He said the energy sector of India stands at an inflection point. "The nation has an ambitious vision of becoming a USD 30 trillion developed economy by 2047. 'Viksit Bharat @2047' will necessitate an almost fourfold increase in primary energy demand." India's exponential growth trajectory will propel it to a pivotal role in the global energy market, accounting for roughly 12 per cent of world energy consumption by 2047. "The key strategic objectives for India in the energy sector will entail significant expansion in refining capacities, raising the share of gas in the energy basket from about 6 per cent to 15 per cent, establishing leadership in petrochemical exports, and sharply reducing energy imports from current levels of 47 per cent to below 25 per cent by 2030 and to zero by 2047," he said. India is targeting 500 GW of non-fossil fuel energy capacity, sourcing half of its energy needs from renewables, reducing carbon emissions by 1 billion tonnes and lowering carbon intensity by 45 per cent by 2030 with the ultimate goal of net-zero emissions by 2070. "Building on its strong Indian energy presence, BPCL aspires to meet 7-10 per cent of the nation's primary energy demand by 2047," he said.

BPCL planning Rs 1.7 lakh crore spend to expand core business, new energy foray over next five years

New Delhi, M&amp;A deal value in <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> fell 27 per cent in 2023 to USD 136 billion but the deals market is expected to remain steady in the current year, Deloitte India said in a report on Monday. "Amidst significant global challenges posed by high-interest rates, macroeconomic uncertainty, regulatory scrutiny, and geopolitical risks, India's M&amp;A landscape stood resilient in 2023," 'India M&amp;A Trends 2024' report said. "Despite global economic and geopolitical challenges, India's deals market is expected to remain steady, reflecting strong confidence from businesses and investors amidst a global economic slowdown," it added. In 2024, M&amp;A (Merger and Acquisition) momentum is expected to remain steady with the manufacturing sector, driven by automotive, with deal growth expected in auto-components and <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">Electric Vehicles</keyword> (EVs). Also, the government's proactive initiatives to promote clean energy are expected to catalyse a significant rise in M&amp;A within the energy sector. M&amp;A in the financial services sector is anticipated to be driven by large-scale consolidations and responses to regulatory shifts. Private Equity (PE) is projected to remain consistent in 2024, while deal momentum is expected to revive post-2024, supported by flattening interest rates and recovering economic growth. <keyword id="20733110" type="General" weightage="20" keywordseo="sumeet-salwan" source="keywords">Sumeet Salwan</keyword>, <keyword id="19964686" type="General" weightage="20" keywordseo="partner" source="keywords">Partner</keyword>, Consulting, Deloitte India, said, "The global challenges posed by high interest rates, macroeconomic uncertainty, and geopolitical risks, that characterised 2023 are expected to continue into 2024 as well. While the global M&amp;A market remains soft, Indian companies continue to be steered by a strong domestic economy. They may increasingly see M&amp;A as a crucial strategy to help them expand, integrate supply chains, and reinforce market positions." According to the report, M&amp;A deal value in India reduced to USD 136 billion in 2023 from USD 186 billion in 2022. Financial services, technology, media, and telecom (<keyword id="20147197" type="General" weightage="20" keywordseo="tmt" source="keywords">TMT</keyword>) continue to be the top sectors driving M&amp;A. Financial services sector witnessed a 45 per cent decline in deal value and a 23 per cent increase in deal volume from 2022. TMT sector encountered a 33 per cent YoY (Year on Year) reduction in deal value, while deal volume fell 34 per cent. Overall cross-border deal value declined 11 per cent in 2023. However, inbound deals saw significant growth, with their share increasing to 41 per cent from 27 per cent in 2022, it said, adding that outbound M&amp;A deal value experienced a notable 49 per cent decline compared to 2022. The energy sector saw a sharp 63 per cent increase in deal value in 2023 as compared to 2022, driven by renewable energy and rising interest in clean energy from foreign investors. The construction and transport sector witnessed a 44 per cent decline in deal value compared to 2022. The sector also had the highest share in outbound deal value, contributing 29 per cent to the same. The medical and pharma sector witnessed a 17 per cent fall in deal value from 2022, driven largely by strategic buyers seeking to expand scale. The industrial and manufacturing sector witnessed a significant 33 per cent and 22 per cent rise in deal value and volume, respectively, in 2023 compared to 2022. "The rise in the manufacturing sector was driven by the automotive segment," the report said.

M&A deal value in India drops 27% in 2023 says Deloitte report

<ul class="summary-list"><li>India has overtaken China as the world's most populous country, and it's pushing for foreign investments.</li><li>But foreign investors keen to enter the Indian market face various barriers to entry.</li></ul>India is the next major economy to watch.Earlier this year, India <a href="https://www.un.org/development/desa/dpad/publication/un-desa-policy-brief-no-153-india-overtakes-china-as-the-worlds-most-populous-country/" target="_blank" rel="noopener nofollow">overtook China as the world's most populous country</a>. As a large country with a young population — the <a href="https://www.pewresearch.org/short-reads/2023/02/09/key-facts-as-india-surpasses-china-as-the-worlds-most-populous-country/" target="_blank" rel="noopener">median age is 28</a> — it's an enticing draw for companies looking to diversify their risks beyond China, which has been the <a href="https://www.businessinsider.com/china-india-supply-chain-covid-sanctions-manufacturers-relocating-tariffs-options-2022-12">factory of the world</a> for 40 years.Indian Prime Minister Narendra Modi's administration has also been on a drive to spur the country's economy through investments.Among <a href="https://www.businessinsider.com/companies-leaving-china-diversifying-supply-chains-apple-tsmc-mazda-2023-6">investors keen on investing</a> in India are Tesla and SpaceX CEO Elon Musk, and <a href="https://www.businessinsider.com/3-charts-show-apples-risks-and-opportunities-in-india-2023-4">tech giant Apple.</a>Even legendary emerging markets investor Mark Mobius, who's known for his <a href="https://www.scmp.com/business/banking-finance/article/3214948/mark-mobius-still-keen-investing-china-after-recent-hiccup-wants-beijing-relax-capital-controls" target="_blank" rel="noopener nofollow">bullish take on China,</a> has recently touted India as <a href="https://www.businessinsider.com/mark-mobius-bullish-india-korea-china-legendary-emerging-markets-investor-2023-6">"the real future."</a>But it isn't that easy operating in the world's largest democracy. Here's why:<h2>1. India wants foreign investment — but it also wants to be self-reliant</h2>India has a history of <a href="https://www.bbc.com/news/business-47857583" target="_blank" rel="noopener nofollow">trade protectionism</a> that makes it difficult to do business in the country, although Modi — who first came into power in 2014 — pledged <a href="https://m.economictimes.com/news/economy/policy/big-bang-move-modi-government-announces-fdi-reforms-in-15-sectors/articleshow/49735873.cms" target="_blank" rel="noopener nofollow">economic reforms,</a> including easing foreign direct investment policies.Still, even as Modi champions foreign investment, his government also wants the nation to be self-reliant and has in fact <a href="https://www.investindia.gov.in/atmanirbhar-bharat-abhiyaan" target="_blank" rel="noopener">kicked off such a campaign</a> in May 2020 amid the COVID-19 pandemic.While the two goals are not at odds, it does mean foreign businesses doing business in India face a complex landscape."US exporters are being pressured to start manufacturing their products locally to retain market access, particularly if similar goods are not already produced in India," the <a href="https://www.trade.gov/knowledge-product/exporting-india-market-overview" target="_blank" rel="noopener">US International Trade Administration, or ITA,</a> wrote in a market overview of India in September."The Indian government has consistently raised tariff and non-tariff barriers to protect domestic suppliers across most sectors and to bolster indigenous production," the ITA added.<h2>2. Import taxes in India are some of the highest in the world's major economies</h2>India's import taxes are <a href="https://www.bbc.com/news/world-asia-india-48961235" target="_blank" rel="noopener">some of the highest in the world</a> among major economies.India's simple average import tariffs hit 18.3% in 2021, according to <a href="https://www.wto.org/english/res_e/statis_e/daily_update_e/tariff_profiles/in_e.pdf" target="_blank" rel="noopener">World Bank data</a> — far higher than the <a href="https://www.wto.org/english/res_e/statis_e/daily_update_e/tariff_profiles/US_e.pdfhttps://www.wto.org/english/res_e/statis_e/daily_update_e/tariff_profiles/US_e.pdf" target="_blank" rel="noopener">US' 3.4%.</a> For imported cars, import tariffs can <a href="https://txtify.it//https://www.reuters.com/business/autos-transportation/india-raises-tax-imported-cars-motorbikes-including-evs-2023-02-01/" target="_blank" rel="noopener">hit as much as 70%</a> if they cost under $40,000.So, even before Tesla CEO Elon Musk met Modi earlier this month, <a href="https://www.businessinsider.com/elon-musk-tesla-working-through-challenges-with-india-import-tax-2022-1">the EV maker was already lobbying</a> the Indian government to slash import taxes on EVs before it agrees to start selling in the market.In a <a href="https://twitter.com/elonmusk/status/1418656085267865602?s=20" target="_blank" rel="nofollow noopener">tweet</a> in July 2021, Musk wrote that India's import duties are "the highest in the world by far of any large country!"But given the huge Indian market, Tesla isn't giving up. "I am confident that Tesla will be in India and will do so as soon as humanly possible," <a href="https://economictimes.indiatimes.com/industry/renewables/tesla-may-soon-set-up-manufacturing-base-in-india-ceo-elon-musk/articleshow/101170774.cms" target="_blank" rel="noopener nofollow">Musk told reporters on June 20.</a><h2>3. Indian bureaucracy and red tape are notorious</h2>As a large economy with a young population, India has the potential to be a manufacturing powerhouse. But the South Asian country is also infamous for its bureaucracy and red tape."It's far from a place where businesses can simply come in and open a shop without having too many company compliances," Ashutosh Sharma, a research director at market researcher Forrester, <a href="https://www.businessinsider.com/china-india-supply-chain-covid-sanctions-manufacturers-relocating-tariffs-options-2022-12">told Insider in December</a>.Since 2003, the <a href="https://documents1.worldbank.org/curated/en/688761571934946384/pdf/Doing-Business-2020-Comparing-Business-Regulation-in-190-Economies.pdf">World Bank</a> has been running an annual ranking of countries based on their ease of doing business. In 2019 — the most recent year the index was compiled before the <a href="https://www.reuters.com/business/world-bank-aims-replace-canceled-doing-business-report-two-years-2021-11-10/" target="_blank" rel="nofollow noopener">World Bank discontinued it</a> due to a data-rigging scandal — India came in 63rd place. That's still behind China, which ranked 31st in 2019, but miles ahead of where it was a couple of years earlier. When Modi took office in 2014, <a href="https://www.bloomberg.com/news/articles/2017-10-31/india-jumps-to-100th-spot-in-ease-of-doing-business-rankings">India was ranked in 142nd place</a>.<h2>4. Indian states are even more powerful than their US counterparts</h2>India is the world's largest democracy, so <a href="https://www.businessinsider.com/china-india-supply-chain-covid-sanctions-manufacturers-relocating-tariffs-options-2022-12" rel="">decision-making can get complicated.</a>"As a federal system, power and decision-making are decentralized in India, with differences at the state level in political leadership, quality of governance, regulations, taxation, and labor relations," the ITA wrote in a <a href="https://www.trade.gov/country-commercial-guides/india-market-challenges" target="_blank" rel="noopener">post</a> in September outlining market challenges in India.Indian states generally hold greater power than their US counterparts, which means businesses can face different operating conditions across various states and territories, according to the ITA. China also has issues like compliance and licensing, but it can still move more quickly than India, simply because the South Asian nation is "much more democratic and there are just too many stakeholders to satisfy," said Sharma.Business expansion in India requires a longer planning timeline and adopting strategies for different states, the ITA added, citing US companies already operating in the country.<h2>5. India's tycoons already control swathes of the country's economy, and they wouldn't give up without a fight</h2>As a large, emerging market, many of <a href="https://www.bloomberg.com/opinion/articles/2023-05-08/india-economy-monopoly-power-means-higher-prices" target="_blank" rel="noopener">India's tycoons</a> have already built business empires from its massive consumer base — and it's unlikely they will give up their market shares without a fight.Even world-richest person Musk, who <a href="https://www.aninews.in/news/world/us/i-am-a-fan-elon-musk-after-meeting-pm-modi-planning-to-visit-india-next-year20230621055642/" target="_blank" rel="noopener nofollow">told reporters</a> on June 20 he was keen to launch Starlink in India, is <a href="https://www.businessinsider.com/elon-musk-spacex-starlink-india-market-mukesh-ambani-reliance-tesla-2023-6">coming up against strong competition</a> in the form of billionaire Mukesh Ambani, who is the chairman and managing director of conglomerate Reliance IndustriesSpaceX — which owns Starlink — and Reliance have different stances on how the Indian government's satellite broadband spectrum should be distributed, <a href="https://www.reuters.com/technology/battle-billionaires-musks-starlink-eyes-india-ambani-resists-2023-06-22/" target="_blank" rel="noopener nofollow">Reuters reported.</a>Musk's Starlink is lobbying the Indian government to assign licenses for satellite service in line with the global practice, arguing it's a natural resource to be distributed among companies, according to Reuters. Ambani's Reliance Jio is taking the opposite stance and calling for a public auction to ensure a level playing field for both foreign and domestic players in the traditional telecom space.Reliance will continue lobbying the Indian government for an auction, Reuters reported, citing an industry source with direct knowledge of the matter.

India's gearing up to be the new China, but even Elon Musk is finding it hard to crack into the market. Here are 5 reasons why.

<ul><li>The top 10 list of new additions was dominated by the billionaire Abhay Vakil family — co-founder of Asian Paints. </li><li>Ashwin Desai and family of Aether Industries with a wealth of ₹11,700 crore came second in the list of people who made their debut on the list . </li><li>The number of entrants to the list has increased by 60% in the past five years, said <keyword id="2672295" type="General" weightage="50" keywordseo="anas-rahman-junaid" source="Orion">Anas Rahman Junaid</keyword>, MD and Chief Researcher, <keyword id="3656834" type="General" weightage="100" keywordseo="hurun-india" source="Orion">Hurun India</keyword>.</li></ul>As many as 149 people made their debut in IIFL <keyword id="15045674" type="General" weightage="50" keywordseo="wealth-hurun-india-rich-list" source="Orion">Wealth Hurun India Rich List</keyword> 2022, released today. Three spots in the top 10 list of new additions were taken up by the Vakil family with holdings in Asian Paints. Nehal Abhay Vakil, with a net worth of ₹11,700 crore, tops the list, whereas, Vivek Abhay Vakil and Bhairavi Abhay Vakil were ranked fourth and seventh respectively. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Name </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net worth </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nehal Abhay Vakil </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹11,700 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vivek Abhay Vakil </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,400 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bhairavi Abhay Vakil </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹7,300 crore </td></tr></tbody></table>Source: IIFL Wealth Hurun report The second position was grabbed by Ashwin Desai &amp; family of Aether Industries with a wealth of ₹11,700 crore, followed by Faizal Kottikollon of KEF Holdings with ₹9,500 crore. Zepto founder, 19-year-old <keyword id="12442402" type="General" weightage="50" keywordseo="kaivalya-vohra" source="Orion">Kaivalya Vohra</keyword> was named as the youngest in the additional list. He has a net worth of ₹1,000 crore and is ranked at 1036th in the list which had 1,103 people. <keyword id="14134948" type="General" weightage="50" keywordseo="alakh-pandey" source="Orion">Alakh Pandey</keyword>, popularly known as ‘Physics Wallah’, and its co-founder Prateek Boob also entered the list. Both are ranked at 399th position with a wealth of ₹4,000 crore as their startup Physics Wallah turned unicorn. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Name </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wealth (in ₹ crore) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nehal Abhay Vakil </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11,700 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ashwin Desai &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10,300 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aether Industries </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Faizal Kottikollon </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9,500 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">KEF Holdings </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vivek Abhay Vakil </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8,400 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alla Ayodhya Rami Reddy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,400 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ramky Group </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kishore R Chhabria &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,400 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Allied Blenders &amp; Distillers </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bhairavi Abhay Vakil </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,300 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">A V Venkatraman </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5,500 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Latent View Analytics </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Madhavkrishna Singhania </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4,700 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JK Cement </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Raghavpat Singhania </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4,700 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JK Cement </td></tr></tbody></table>Source: Hurun report The number of entrants to the list has increased by 60% in the past five years, said Anas Rahman Junaid, MD and chief researcher, Hurun India. The chemicals &amp; petrochemicals sector contributed the greatest number of new entrants with 20 new additions, followed by financial services (17) and software &amp; services (12). Junaid further added, “The new additions to IIFL Wealth Hurun India Rich List have occurred at a time when valuations are at a low, both in the listed and privately held companies. India is best positioned to capitalize on robust domestic demand, a stable political landscape, favourable demographics, and a sustainable external debt.” The cumulative wealth of Indians in the rich list increased by 9.4%, while average wealth has decreased by 1%. As many as 602 individuals saw their wealth increase or stay the same in the past one year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/adani-group-enters-into-a-no-poaching-pact-with-mukesh-ambani-led-reliance-industries/articleshow/94353862.cms">Adani Group enters into a no-poaching pact with Mukesh Ambani led Reliance Industries</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/iit-madras-incubated-ev-startup-esmito-raises-10-crore/articleshow/94354081.cms">IIT Madras-incubated EV startup Esmito raises ₹10 crore</a>

IIFL Wealth Hurun India Rich List 2022 sees 149 new entrants

<ul><li>In the last few years, sustainability has become more than just a buzzword in the marketing and advertising world. It is now one of the biggest decision-making factors.</li><li>Consumers are asking for more transparency and expecting to see more concrete action from Indian brands.</li><li>E-commerce packaging, which comes in layers of plastic, bubble wrap, tape, air packets, paper and cartons, have contributed a lot to India’s plastic waste.</li><li><keyword id="5900102" type="PERSON" weightage="20" keywordseo="mahesh-pratap-singh">Mahesh Pratap Singh</keyword>, Head of <keyword id="11840132" type="UNKNOWN" weightage="20" keywordseo="sustainability-and-social-responsibility">Sustainability and Social Responsibility</keyword>, <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> talks to us about embracing sustainability across multiple departments within an organisation, finding an organisation’s true purpose and how it is adopting zero waste practices.</li></ul>After the emergence of social media, consumers across the world have started demanding that brands do more than just sell their products. They are demanding more sustainable products, faster service and less <keyword id="1820144" type="PERSON" weightage="20" keywordseo="plastic-pollution">plastic pollution</keyword>. Indian companies have responded by onboarding a dedicated full-time resources to prioritise sustainability and social responsibility, developing purposeful strategies and even by embedding sustainability and purpose into their overall B2C communication. However, due to COVID-19 and the resultant global demand for safe disposable solutions, the issue of plastic pollution has compounded. One of the least studied and underreported generators of plastic are e-commerce companies. E-commerce packaging often comes in layers of plastic, bubble wrap, tape, air packets, paper and cartons and it has contributed a lot to India’s landfill waste. It has to be bulkier than usual to protect the product throughout the journey to avoid any damage. With the festive season upon us, e-commerce packaging is at an all-time high. Earlier this month, e-commerce giant Flipkart announced that it has eliminated all single-use plastic packaging used across its fulfillment centres in India. On the logistics front, Flipkart currently operates close to 1000 electric 3-wheelers and 2-wheelers and aims to completely transition to electric vehicles by 2030. We spoke to Mahesh Pratap Singh, Head of Sustainability and Social Responsibility, Flipkart to find out how the home-grown company is working towards substantially reducing its carbon footprint to help build a greener future. He further shared how Flipkart is in process of creating a consolidated sustainability policy. Excerpts: <cmsannotation type="cmsannotation" annotationid="Q. The COVID-19 pandemic has added a safety dimension to sustainability that consumers and organizations must now balance. Many organisations have switched to one-time plastic use to ensure their consumers' safety. With this, sustainability is kept on the backburner. Has it been challenging for you to achieve 100% single-use plastic elimination?" text="Q. The COVID-19 pandemic has added a safety dimension to sustainability that consumers and organizations must now balance. Many organisations have switched to one-time plastic use to ensure their consumers' safety. With this, sustainability is kept on the backburner. Has it been challenging for you to achieve 100% single-use plastic elimination?">Q. The COVID-19 pandemic has added a safety dimension to sustainability that consumers and organizations must now balance. Many organisations have switched to one-time plastic use to ensure their consumers' safety. With this, sustainability is kept on the backburner. Has it been challenging for you to achieve 100% single-use plastic elimination?</cmsannotation> Sustainability by definition is to understand and meaningfully adapt to the world around while keeping a systems view of the future. The pandemic has only further strengthened our resolve to ensure that as a company we continue to evolve in the most sustainable manner possible to ensure long term trust and value for all our communities. Flipkart has been very meticulously driving its sustainability initiatives across electrification of its fleet, waste management and increasing the use of renewable energy and elimination of single-use plastic. In line with this, we doubled down on our sustainability initiatives and made a pledge to eliminate single-use plastic packaging from our own supply chain, which we achieved last month (July 2021). In our journey, we have been incorporating the circularity approach of 5R’s (Reduce|Reuse|Recycle|Refurbish|Regenerate) where possible. Throughout our warehouses and logistics operations we have been implementing packaging optimization and creating national standards on packaging materials to reduce waste in our supply chain, promote reusable and recyclable materials, and work with close to 70 brands on removing additional layers of packaging. We have also partnered with Canopy on their Pack4Good initiative to promote the use of forestry certified and responsibly managed pulp and paper across our packaging initiatives. In addition to this, we have also filed for patents for 2 ply wrap, which is a replacement for bubble wrap) and for security paper bags made from virgin Kraft paper. <cmsannotation type="cmsannotation" annotationid="Q. Is sustainability an immediate focus today at Flipkart? Why is sustainability becoming an important component of your strategic thinking?" text="Q. Is sustainability an immediate focus today at Flipkart? Why is sustainability becoming an important component of your strategic thinking?">Q. Is sustainability an immediate focus today at Flipkart? Why is sustainability becoming an important component of your strategic thinking?</cmsannotation> To answer this simply, yes. At Flipkart, we believe in ensuring that we continue to democratize all aspects of the business we are in, and sustainability is no exception. With e-commerce becoming an important part of our lives to meet our evolving requirements, instilling the principles of sustainability into our business operations is imperative. Given the uncertainty that the world is currently facing, as a business the more we have incorporated sustainability it has resulted in business constructs that ensure innovation, affordability, availability and long-term success and value for the entire business. The last one and a half years under the shadows of the pandemic brought in a different side of businesses where they have stepped up to take care of not just their own but the entire ecosystem. This has been an encouraging shift where sustainability conversations are no longer just powered by individual actions and passion projects but have the support of the entire leadership structure. As companies relate business continuity with sustainability principles, the shift towards incorporating sustainability as an intrinsic part of the corporate strategy is great to observe. <cmsannotation type="cmsannotation" annotationid="Q. Please tell us more about your larger sustainability plan. Where did you start and how did you get to where you are now?" text="Q. Please tell us more about your larger sustainability plan. Where did you start and how did you get to where you are now?">Q. Please tell us more about your larger sustainability plan. Where did you start and how did you get to where you are now?</cmsannotation> As we look at creating a responsible value chain, some of the initiatives currently being implemented are: Packaging: We have eliminated single-use plastic in packaging arising from our warehouses and currently 100% of shipments from Flipkart's own warehouses use alternative materials for the outer layer of packaging. We are also working with our sellers to influence and help them reduce reliance on single-use plastics for their packaging needs in instances where sellers make their own packaging decisions. As we move forward, we are also working with brands that sell on Flipkart on reinforcing the primary packaging to be storing enough to withstand e-commerce logistics thereby eliminating the need for a secondary layer altogether. Our ambition is to take this project to 40% of our packaging by 2023. We continue to pilot and scale a range of different solutions to fit all our shipping requirements in order to reduce our downstream carbon footprint. As we look for alternative materials, we are also ensuring that we do not create an adverse impact on the forestry landscape and only source from responsibly managed forests. Mobility: In 2020, we signed up for the EV100 commitment to completely transition to electric vehicles in our logistics fleet by 2030 and introduce 25,000 EVs in our delivery fleet. In less than a year of this commitment, we currently operate close to 1000 electric 3-wheelers and 2-wheelers in our last-mile fleet. Operations: As part of our extended producer's responsibility (EPR) across plastic waste and e-waste, we currently recycle 100% of the plastic being used at our warehouses and liquidate all our e-waste through certified Producer Responsibility Organizations (PROs). We also ensure the use of energy efficient lighting across our facilities and operate close to 30 ISO 14001 facilities. We are also working with all our facilities to ensure proper waste management and water management. Infrastructure: We currently have our entire energy load across 4 strategic facilities being met entirely by solar power and continue to set up rooftop solar across all facilities to reduce our reliance on fossil fuels for electricity generation. We are also ensuring that any new construction that Flipkart undertakes meets the Indian Green Building principles. Products &amp; Sourcing: As we look for opportunities across our value chain, we have also tried to ensure that the manner in which we source our products is also sustainable. We are now incorporating sustainable materials, recycled fabrics and responsibly sourced rayon and viscose for all our in-house brands. We are in the process of creating a consolidated sustainability policy and a defined approach to climate change mitigation which looks at innovation and technologies to reduce our environmental impact across the value chain. We are still far from done across the business but as we continue to partner across the sustainability community, the support we have received has been immense. We are hoping to continue our partnership in this manner. <cmsannotation type="cmsannotation" annotationid="Q. How are you ensuring that you get more Flipkart consumers to switch to eco-friendly practices?" text="Q. How are you ensuring that you get more Flipkart consumers to switch to eco-friendly practices?">Q. How are you ensuring that you get more Flipkart consumers to switch to eco-friendly practices?</cmsannotation> We have been working across our category teams to identify and onboard sustainable brands as part of the portfolio of products. We have identified close to 50 brands that are currently selling on the Flipkart platform and have sustainable attributes that we will be showcasing throughout the year. We believe that sustainability is a common goal, and it is important to develop a culture that encourages participation of stakeholders, including employees, and enables continuous learning and action towards achieving sustainability goals. Flipkart has been conducting a series of workshops and awareness activities, including webinars on adopting zero waste practices; upcycling and reusing old products; the importance of biodiversity, and more for thousands of our employees. These initiatives are also amplified on our respective social channels to extend the conversation to millions of our customers across the country. <cmsannotation type="cmsannotation" annotationid="Q. Tell us how Flipkart has improved its ecological footprint? What kind of changes are you bringing about to make your business more environmentally friendly, and why was this important?" text="Q. Tell us how Flipkart has improved its ecological footprint? What kind of changes are you bringing about to make your business more environmentally friendly, and why was this important?">Q. Tell us how Flipkart has improved its ecological footprint? What kind of changes are you bringing about to make your business more environmentally friendly, and why was this important?</cmsannotation> Flipkart performed its first greenhouse gas assessment in 2020 where we looked across the business to identify our footprint across our own operations and in our sourcing and supply chain. Through the exercise, we identified various aspects of our operations that we could take action on to make long-term sustainable choices. Our involvement in the EV100 program, WWF’s UnPlastic Collective as well as our recent partnership with Canopy are part of those efforts. As we move forward to the next phase of sustainability, we do see some exciting possibilities across the supply chain and moving forward with initiatives that empower and enable not just our own activities but also creating learning and sharing opportunities beyond. <cmsannotation type="cmsannotation" annotationid="Q. Brands play a huge role in bringing about change in society. How do you think brands can empower consumers to have eco-friendly choices around waste management?" text="Q. Brands play a huge role in bringing about change in society. How do you think brands can empower consumers to have eco-friendly choices around waste management?">Q. Brands play a huge role in bringing about change in society. How do you think brands can empower consumers to have eco-friendly choices around waste management?</cmsannotation> The Covid-19 pandemic has made us aware of the interconnected nature of the world we live in. It has exposed the dangers of a linear waste-making business model and underlined the importance of reducing our carbon footprint. The role of corporations in creating resilient and sustainable communities is vital. Data suggests that companies that manage their ESG (Environmental Social and Governance) goals well are outperforming other businesses. So, it is important for businesses to learn how to build resilience, prepare themselves for risks, and build resilience within the communities they work with. At Flipkart, environmental sustainability is deeply embedded in our DNA and we are committed to fostering sustainable practices across our business and value chain and lay deep emphasis on both environmental sustainability and social responsibility. We are also creating awareness about our sustainability initiatives both at industry and at customer level to ensure widespread conversations on the importance of sustainable means of living. <cmsannotation type="cmsannotation" annotationid="Q. Going ahead, what does your sustainability roadmap look like? Many companies have pledged to become carbon neutral by 2025, reduce waste of landfills, etc." text="Q. Going ahead, what does your sustainability roadmap look like? Many companies have pledged to become carbon neutral by 2025, reduce waste of landfills, etc.">Q. Going ahead, what does your sustainability roadmap look like? Many companies have pledged to become carbon neutral by 2025, reduce waste of landfills, etc.</cmsannotation> Moving forward, there are several milestones that we hope to achieve in our journey and are working with global experts to help us define what those should be. While we fully acknowledge that sustainability is an evolving topic we are proud of the support we have received across the organization. We have been very meticulously driving our sustainability initiatives across electrification of our fleet, reducing wastage and tapping renewable energy and elimination of single-use plastic. What started as a one-of-its-kind initiative for Flipkart a few years ago has transformed into an organisation-wide motive where multiple stakeholders both within and outside the org came together to build a sustainable supply chain. We are also working with our seller community and other stakeholders in the ecosystem to understand how it can best implement new innovations to bring sustainability in their operations. We have made tremendous progress in achieving its sustainability targets that are spread across various categories and will further our initiatives to offer the benefits of e-commerce to customers in a sustainable manner.

COVID-19 has exposed the dangers of a linear waste-making business model and underlined the importance of reducing our carbon footprint: Mahesh Singh, Flipkart

<keyword id="20630" type="CITY" weightage="80" keywordseo="Honda">Honda</keyword> Motorcycle &amp; Scooter India will showcase 10 models, including four concepts, during the upcoming <keyword id="838005" type="ORGANIZATION" weightage="80" keywordseo="Delhi-Auto-Expo">Delhi Auto Expo</keyword>. 
 The company will unveil a new <keyword id="3219917" type="UNKNOWN" weightage="80" keywordseo="two-wheeler-model">two-wheeler model</keyword>, which the company terms as NAVI and a superbike during the <keyword id="73154" type="PERSON" weightage="80" keywordseo="Auto-Expo">Auto Expo</keyword>, HMSI said in a statement. 
 
The two wheeler major also plans to showcase four refreshed models during the event. 
 
"The New Additional Value for India (NAVI) is set to excite the young trendsetter of India and create a new segment in Indian two wheeler landscape," HMSI said. 
 
Besides, the company plans to display four concept models including 'EOWING' -- a completely new sports hybrid 3-wheeler and EV-Cub during the Auto Expo. 
 
The company, however, did not share details regarding the remaining two concept models. 
 
Image credit: Indiatimes

Guess what? Honda to unveil 10 new models and 4 new concepts at Delhi Auto Expo

<ul><li>Finance Minister Nirmala Sitharaman presented the Union Budget for 2022-23 in Parliament on Tuesday.</li><li>This year's budget is indexed towards startups, MSMEs, infrastructure projects, rural revival, digital payment apps, telecom growth and affordable housing.</li><li>We reached out to digital, media and creative agencies to understand how the increased focus on digitalisation, sustainability, blockchain and push to MSME can impact the ad and marketing industry.</li></ul>Be it the introduction of a Digital University to make education accessible across the country or the proposed launch of a Digital currency by the Reserve Bank of India to the government’s focus on promoting digital payments and fintech, Finance Minister Nirmala Sitharaman made it is clear that digital is the way forward. The Union Budget 2022-23 aims to boost the country's digital infrastructure and enable a cashless economy. The government also announced that it will set up an Animation, Visual Effects, Gaming and Comics (AVGC) promotion task force to give a push to the animation and gaming industry. To facilitate the roll-out of 5G mobile services in India, FM Sitharaman said that Spectrum auctions will be conducted in 2022. This, in turn, will give impetus to Voice, Augmented Reality and Virtual Reality and pave the way for the Metaverse. The Digital Rupee using blockchain will help Indians accept virtual currency and accelerate cryptocurrency exchange in India. Overall, the budget also shows a promise for Electric Vehicle brands, digital payment apps, MSMEs, gaming industry and start-ups. We reached out to digital, media and creative agencies to understand how the increased focus on digitalisation, sustainability and blockchain can impact the advertising and marketing industry. Here’s what they said: Anupriya Acharya, South Asia CEO, Publicis Groupe: The Budget is positive, growth-oriented and with reforms in the right direction. The advent of 5G is sure to transform communications – for our industry it will help creation of better AV, voice and AR/VR experiences. It will also fuel digital payments, streaming entertainment, gaming, e-commerce, tele-medicine etc which in turn will aid more Unicorns! It is also heartening to note that a special Task Force is being set up for AVGC (Animation, Visual Effects, Gaming and Comic) as this will help us build the much needed capacity both for domestic as well as global markets. And then there have been no changes in income-tax slabs for people, which many consumer segments were worried about. This in turn boosts consumer sentiment. From e-passports, to battery swapping for electric vehicles, setting up of optic fiber in the remotest of villages, setting up of a digital university and skilling through an e-portal, the big push is for technology, digital infrastructure and empowerment. Narayan Devanathan, Chief Client Officer, dentsu India: Having gone through the 38-page document of the Finance Minister’s budget speech, I decided to do a search for a couple of words that I thought kept repeating throughout her speech. The words “will be” occurred 110 times in the entire speech. When I narrowed my search to the single word “will,” the number rose to 362. To me, those two words sum up the essence of what this year’s budget is and is not. What it is, is a future-focused budget, aiming at the distant vision of India@100, with a 25-year Amrit Kaal lead-up. What it is not, and what I felt was sorely needed this year of all years, is a present-focused budget. A punishing 2021 for the aam aadmi with more-than-usual expenditure on health and sustenance meant the general populace was looking for immediate relief that would place more cash in their household budgets. That did not happen. Nor was there any extraordinary investment in relieving the healthcare expenditure burden. For all the importance of farmers in upcoming poll-bound states, there was neither major sop nor stimulus given to back the importance of agriculture as a spine if not engine of the economy. Even the MSME sectors were only handed a slightly longer lease of life with the extension of the ECLGS, but there was no real move to stimulate consumption by placing more cash at consumers’ disposal, for example, extending LTA claims to restaurants (and not just accommodation). There is perhaps plenty for the industry to cheer about since it can afford to think about the future and a slightly longer term than just the here and now of survival. The stock market did cheer up even before the FM’s speech, but that only served to underscore the dichotomy between the real health of the population and the Minority of Haves. When the general population probably can’t afford to wait for the benefits of trickle-down economics to reach them in yet another trying year, the dreams and wheels of a consumer-driven economy might move slower than the industry might like, despite the many future-facing and progressive policies announced. Virat Tandon, Group CEO, MullenLowe Lintas Group: The union budget can be termed as consistent with the government's vision to reach the 5 trillion GDP mark by 2025-26. Hence, the strong focus on capex to boost infrastructure that connects and streamlines middle India and provides the engines of entrepreneurship across the length and breadth of the country. It also shows India's commitment to bring a digital first economy with the 5G rollout planned for next financial year, clarity on India's policy for cryptocurrency, data centres, EVs and our very own digital Rupee. Start-up culture will continue to flourish with the right policy framework. These investments and policies will generate jobs and go a long way in inclusive and sustainable growth for Bharat. Anurag Bansal, COO &amp; CFO, DDB Mudra Group: This Union Budget looks neutral, with no major changes in taxation. The launch of digital Rupee based on blockchain technology is a big move to bring in official cryptocurrency in India. New e-passports with embedded chips would definitely ease overseas travel. Managing the Fiscal deficit while pushing for growth and investments is a great balancing act taken on by the government. It will give a boost to capital investments and infrastructure development. Kartik Sharma - Group Chief Executive Officer – India, Omnicom Media Group: With an impetus on holistic growth, developing infrastructure and job creation across sectors, the 2022 union budget shows promise with a focus on the big picture. Reviving economic growth in the post-pandemic environment has been a focus for this government and this progressive, digital-first, and development-oriented budget reflects that. Not only does it provide a boost to the MSME, agriculture and healthcare verticals, but also signals that investing in infrastructure today will connect India better tomorrow. With an increased focus on digitization, some of the standouts for me were that the budget recognized the current gaps and opportunities within the education sector, and is advancing towards uplifting India with the creation of a digital ecosystem - one that is focused on upskilling and creating more employment; aligned with the dynamic needs of today. It also aims to further strengthen communications in the rural sector and build upon the overall financialization of India. Furthermore, while the rollout of a 5G ecosystem will improve the quality of services, the launch of digital money, supported by blockchain, signals an increasing focus on transparency. With consistency in strategic direction and focus on propelling the MSME and start-up ecosystem, this is a welcoming budget for new-age businesses and a hopeful one that will ultimately lead to a boost in the A&amp;M industry as well. We're at the cusp of the next stage of India's digital revolution and although certain factors like data privacy still remain an area to be delved deeper into, as infrastructure and banking penetrate further into rural India, we’re looking hopeful and strong to transform into a forward-leaning digital economy of tomorrow.” Deepak Mittal, CEO and Co-Founder, TO THE NEW: The government's unprecedented commitment to technology innovation and adoption in this union budget is highly encouraging. Breakthrough developments and futuristic technology such as the introduction of digital currency, the rollout of 5G within FY22-23, and e-passports using embedded chips are exciting for the country's future. Among the measures announced, the budget highlights special incentives to startups and the launch of a progressive, new portal encouraging a digital ecosystem for skilling and upskilling. These initiatives will serve as a successful catalyst for the country's economic growth. Atul Shrivastava, Group CEO &amp; Executive Director at Laqshya Media Group: The union Budget underlined the government’s focus on long-term growth. As India’s economic growth is estimated to be 9.2% in the upcoming financial year so it would be good for all the industry and with overall growth, we are sure advertising &amp; media will also show remarkable growth which was low due to the pandemic in the last couple of years. As announced the National Highways to be expanded by 25,000 km under PM Gati Shakti mission. Highways are adding a new dimension to the growth of the OOH Industry as advertising on the Highways is emerging as very strong choice for brand building for many categories. Prasad Shejale, Founder and CEO, Logicserve Digital: The FM has announced a very progressive budget with an intention to widen India's horizons and outlook in the next five years, leveraging emerging technologies. The Government has addressed some urgent priorities underpinning the digital sector, including the launch of digital currency, API-based skill credentials, digital learning channels, digitization of manual processes, etc. On the digital connectivity front, the 5G spectrum auctions will finally make the dream of a tech-savvy India a reality, further boosting the country's digital infrastructure. Additionally, the launch of a design-led manufacturing scheme for the 5G ecosystem as part of the PLI scheme will ensure affordable broadband and mobile communication even in far-flung areas. The availability of high-speed internet connectivity in urban as well as rural areas will encourage marketers to experiment with blockchain, AR, VR. On the skilling front, initiatives like establishing a digital university will provide an opportunity for youth to learn new skills from the comfort of their homes. The creation of a new task force to build domestic capacity in the Animation, Visual Effects, Gaming and Comic (AVGC) sector is commendable. The overall budget is future tech-enabled and balanced. Ahmed Aftab Naqvi, Global CEO &amp; Co-founder, GOZOOP Group: While there will always be hope for more and better, the continued push towards digital, fintech and the boost for start-up ecosystem with the extension of tax benefits till March 2023 along with capping the surcharge at 15% irrespective of the amount of long term capital gains, will fuel the fire of entrepreneurship in our nation. Varun Duggirala, Entrepreneur, Co-founder of The Glitch, Author, Content Creator and a Podcaster: The twin announcements of the digital rupee and the taxation on ‘virtual digital assets’ is clearly a focused drive from the government to regulate the crypto space. What needs to be seen is how this plays out because regulating a decentralized space is a paradox in itself. Another point that stood out for me was the national mental health program. More than anything else it signifies the normalizing of mental health as a legitimate area of focus for us as a nation. Shrenik Gandhi, CEO and Co-founder, White Rivers Media: In my opinion, it is a fairly balanced budget. There is sufficient emphasis being laid on up-skilling, and making right investments in tech which is the need of the hour. The previous budget was more inclined towards setting up a strong foundation in the digital space, and this one is essentially focused on making further advancements. Besides, Digital Rupee being introduced is indeed, a great news across sectors and it will be exciting to finally watch it become a reality. It can prove to be a game-changer in India's future as transactions will become even more instantaneous. Speaking of the expected benefits, let’s not forget that this is India’s #Budget and not a Big Bazaar scheme announcement. So, the immediate benefit may not be seen right now but considering the long-term narrative, it is a fairly established budget. Sahil Chopra, Founder &amp; CEO- iCubesWire: While the general trend of the <keyword id="12134566" type="General" weightage="20" keywordseo="union-budget-2022" source="Orion">union budget 2022</keyword> has its emphasis on ease of doing business, I strongly believe, data and digital occupied the centerpiece of the budget. The plans to focus and promote the fintech and digital economy are a very strong positive move. New age technologies, keeping data and digital at heart of it will allow the tech enablers to transform multiple industries. For MSMEs, the government has plans to outlay Rs 2 trillion which is again a welcoming move that will help in enhancing startups as well as entrepreneurial opportunities for all. Besides, extension on tax exemption to startups and promotion of startups to facilitate ‘Drone Shakti’ through varied applications and drones as a service is also encouraging. The ambitious optical fibre to the villages under PPP in 2022-23 shall get the next 100M in the Digital Universe soon. To sum up, it’s a positive budget for the digital sector which has always vouched for a strong digital infrastructure in the country." Chetan Asher, Founder and CEO, Tonic Worldwide: The budget clearly will help the country march towards digital adoption and transformation in many sectors. With 5G rollout on the cards we will see an acceleration across the board. The digital rupee will put India right up on the map of advanced digital economies. Clarity on Digital assets and crypto will give it new impetus. All of these initiatives will help us emerge as leaders in adoption and growth of blockchain technology Ambika Sharma, Founder &amp; MD, Pulp Strategy: The Budget is interesting as the Government has focused on all sectors. The financial support for the digital payments ecosystem is a welcome move and further reaffirms the Government of India's digital banking push. This push on digitization will make way for more inclusion in the ecosystem. The focus on 'Ease of doing business is a great step, as it will further promote entrepreneurship in the economy” . The 2022-23 budget finely balanced fiscal retreat with supporting economic recovery. The budget focused on a familiar strategy of driving capital expenditure to drive growth, to crowd in private investment through higher public spending. Although markets could be disappointed with a higher fiscal deficit of 6.4% of GDP for FY23 than expected, it is perhaps prudent to not undertake aggressive fiscal consolidation at this nascent stage of recovery. While elevated market borrowings are likely to pressurize bond yields, the inclusion of green bonds in the borrowing plan is an interesting innovation. In terms of specific policy announcements, the move towards self-reliance through protection for domestic manufacturers (change in custom and import duties) aligns with the long-term goal of Atmanirbhar Bharat. The government has extended the startup tax holiday and concessional tax for manufacturing startups by a year. While that was on the cards, it doesn’t address the core need of startups to be given a longer tax holiday of 5 years as required. One of the most encouraging aspects of the budget has been the announcement to set up an AVGC (animation, visual effects, gaming, and comics) promotion task force to plan and build domestic capacity for serving domestic as well as global markets. Loss from the transfer of virtual digital assets cannot be set off against any other income. The creation of a unified logistics platform and the developments of 100 new cargo terminals in the next three years are significant steps in improving the supply chain ecosystem in the country. Infrastructure status given to Data Centers will provide a huge boost to the fast-evolving digital environment of the country. The fiscal outcome is broadly in line with our expectations with the government having continued its focus on infrastructure and rural demand. Himanshu Arya, Founder and CEO, Grapes: The Union Budget for the financial year 2022-23 has set the stage with an invigorated focus on ramping up the process of the digital revolution. The government’s focus on the digital ecosystem is a progressive move to render an inclusive landscape for job openings and entrepreneurial opportunities. The extension of tax incentives for startups for one more year will give a slight relief to the industry. I hope that the cash flow improves in the market. The Union Budget has various encouraging initiatives and is directed towards a more viable and flexible business ecosystem that completely aligns with the ideologies of Make in India. Siddharth Devnani, Co-Founder &amp; Director, SoCheers: Digital and digitization stood out as a strong overall trend in the Union Budget 2022. The budget put a great focus on long-term growth and given how intricately ‘digital’ was integrated into several measures, it can be seen as an integral part of that growth. Implementation of the Central Bank digital currency will definitively aid the growth of digital economy and finance in the country, opening doors for digital acceleration across sectors. The announcement about the new digital university and the renewed focus on digital learning, further presents an opportunity, especially to the fast-evolving Educational Technology sector. However, a definite plan on how this will pan out for all corners of India remains to be seen. Moreover, digital will also be leveraged in the set-up and operation of tele-mental health centres, providing the necessary focus and access to mental health services to the Indian masses. This comes as one of the most welcome move as it’ll contribute infinitely to the nation’s long-term growth.

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