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<ul><li><keyword id="6122092" type="General" weightage="20" keywordseo="hero-lectro" source="Orion">Hero Lectro</keyword> has been leading the <keyword id="3942577" type="General" weightage="20" keywordseo="e-cycle" source="Orion">e-cycle</keyword> race in India. Out of the 100,000 e-cycles sold in the country so far, Hero Lectro accounts for 70%.</li><li><keyword id="3912924" type="General" weightage="20" keywordseo="aditya-munjal" source="Orion">Aditya Munjal</keyword>, CEO of Hero Lectro speaks to us on the brand's journey so far, a few challenges and a few areas of focus for the brand and the industry to grow.</li></ul>While the pandemic and the ensuing lockdown threw a lot of curveballs at us, perhaps changing our lives forever, there are a few things it did that might turn out to have a positive impact in the long-run. Among many big and small changes, there has been a move towards sustainability and people are now more conscious about making lifestyle changes that not just help improve their lives but also help the environment. While the Western world has been big on cycling for years now, things are slowly picking up in India too, and the pandemic has given it just the push it needed. And with this uptick in cycling enthusiasm, the market for e-cycles is slowly heating up too. While still at a nascent stage in India, people are now opening up to give e-cycles a try. Identifying the opportunity in the space, Hero Cycles has entered the segment and coming up with e-cycles under the brand Hero Lectro. The brand sells e-cycles spanning 15 variants across multiple utilities including products with and without gears. It also provides solutions for commuting, recreation as well as last-mile delivery. In a recent conversation with Aditya Munjal, CEO of Hero Lectro, we tried to understand a bit more about the segment, where things stand in India and what the future looks like. The e-cycles industry and where Hero Lectro stands The e-cycle segment is still at a nascent stage in India but there has been a doubling of growth for the segment in the last few years. The market has roughly sold 100,000 e-cycles so far and Hero Lectro accounts for nearly 70% of that number, shared Munjal. The lockdown gave it the push it needed, with people rediscovering the outdoors and opting for cycling at a time when they were stuck at home and were looking for some kind of activity. While the first year of the pandemic saw a big surge in demand, growth for the segment has now stabilized, Munjal said. There has also been a steady evolution in the consumer profile of e-bikes. While initially, it was primarily cycling enthusiasts opting for e-cycles, in the last couple of years, many city consumers are also increasingly looking at e-cycles as a viable mode of conveyance to their work places or simply to work errands. In fact, the growth is no longer restricted to metro cities. “Currently, non-metros account for 6 out of every 10 bikes we sell. We are seeing Tier II and III cities really come up. And within metros, we have seen women increasingly opt for our products as well. Also, in metros, people staying within 15 kilometers of their workspace are starting to use e-cycles. People who would normally share rides or use public transport are now buying the products. Initially, they started by using it once or twice in a week but with time, they've started using the cycles for going to work every day. It's a natural trend where premium cyclists are seeing this as a new technology and revolution, so there's natural excitement,” explained Munjal. Currently, the brand is witnessing maximum excitement from premium cyclists. “We are also seeing a lot of enthusiasm around our products for work commute. We have just launched cargo and in my view, that is another segment that will bring in a lot of excitement along with numbers,” shared Munjal. How the government can help in the growth of e-cycles While there is growing enthusiasm among people for e-cycles, there are still a few roadblocks ahead. The government has been talking about the need for more sustainable mobility but the cycling industry has been kept out of key policies like production-linked incentive (PLI) or Fame 2. Demand in India also hasn’t taken off yet possibly because of the higher cost of the product, and this, Munjal feels is a problem that can be solved if the government includes e-cycles in its subsidy schemes. Talking about the kind of support the industry needs to give it the required push, Munjal said, “For us the responsibility is not just to grow the brand but also the segment. We have built a large, truly futuristic factory in Punjab, the idea was to cater to competitive supplies for e-bikes in India and abroad. Globally, we have to compete with decade-old manufacturing facilities in places like China, Taiwan, Cambodia, who have great benefits. So, one benefit that will make us competitive for the world would be the PLI. That’s a direct assistance which will really make the world see India as a true hub for buying e-bikes. The second task is to build demand in India. If the Fame 2 subsidies get extended to e-cycles, the will become more accessible to a lot of new people.” Focus areas ahead The brand is currently focusing on coming up with products that fill a need gap. Munjal said going ahead too, the brand will continue doing that while also figuring out ways of making the brand attractive for the younger audience. It has been changing its marketing strategy according to the audience they want to talk to. While it has been using digital to reach out to its target consumers, going ahead, it would also depend a lot on experiential, where a lot of importance will be given to people trying their products. “Our job is to create a desire for our brands and relating to the audience and their lifestyles today which is changing really fast. Our job is also to create great products and communicate about them in an aspirational manner. We are doing it already and going ahead too, we will continue doing it. Our aim also is to grow the segment on the whole,” said Munjal.

For us, the responsibility is not just to grow the brand but also the e-cycle segment: Aditya Munjal, Hero Lectro

Industrialists are now taking keen interest in <keyword id="6357120" type="UNKNOWN" weightage="100" keywordseo="PayTM">Paytm</keyword> and as per several reports, Hero’s <keyword id="159745" type="PERSON" weightage="20" keywordseo="Sunil-Munjal">Sunil Munjal</keyword> and <keyword id="599277" type="ORGANIZATION" weightage="20" keywordseo="Adventz-Group">Adventz Group</keyword>’s <keyword id="233083" type="PERSON" weightage="20" keywordseo="Saroj-Poddar">Saroj Poddar</keyword> are in talks to buy a stake in Paytm. 
 
If everything goes well, the investment will boost the value of Paytm's parent One97 Communications and may take its valuation of $6 billion. 
 Reportedly, Munjal, the chairman of <keyword id="171917" type="ORGANIZATION" weightage="20" keywordseo="Hero-Corporate-Services">Hero Corporate Services</keyword>, and Poddar, chairman of fertiliser and engineering services conglomerate Adventz Group, are negotiating a stake purchase from early investor and former IDFC Securities analyst <keyword id="125370" type="PERSON" weightage="20" keywordseo="Nikhil-Vora">Nikhil Vora</keyword>. 
 The deal will mark a partial exit for <keyword id="187821" type="PERSON" weightage="20" keywordseo="Vora">Vora</keyword> who owns about 1.6 lakh shares - a 0.35% share - in the <keyword id="302749" type="COMPANY" weightage="20" keywordseo="Alibaba">Alibaba</keyword> backed company. 
 
"They (Munjal and Poddar) will buy Rs 50 crore worth secondary stock at Rs 8,000 per share," one of the persons cited above, told ET. 
 Paytm, earlier received funding from Taiwan's <keyword id="6369515" type="COMPANY" weightage="20" keywordseo="Mediatek">MediaTek</keyword> in August when it was estimated to be worth $4.8 billion. This deal, if successful, will see the company valued at $5.5-6 billion, according to the sources. 
 
A boost in valuation can help the payments company - which has registered rapid growth in recent weeks due to the government's demonetisation exercise - command a better value when it seeks fresh institutional funding in the coming weeks. 
 
Paytm has seen business boom with transactions going up from 2.5 million per day to 7 million in November. 
 
The company is now focussed on growing its business in rural markets by offering local language support and new services for payments on feature phones. 
 <keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword>, the founder of One97, told ET that his aim was to "move ahead from payments and offer a full bouquet of personal banking services in 2017". The payments bank, when launched, will offer fully portable accounts and even cashout features that a wallet company cannot do. 
 Large conglomerates like <keyword id="6355199" type="CITY" weightage="20" keywordseo="Reliance-Industries">Reliance Industries</keyword>, Aditya Birla Group and RPG (RP Goenka) Group meanwhile are looking to back ventures closer to their own businesses.

Sunil Munjal, Saroj Poddar likely to invest in Paytm; may reach $6 billion in valuation

New Delhi, India's top billionaires, including Gautam Adani and Sunil Bharti Mittal, mega stars from film industry such as Amitabh Bachchan and Shahrukh Khan and cricketing icons from Sachin Tendulkar to M S Dhoni are among those invited for pre-wedding celebrations of Mukesh Ambani's youngest son, Anant early next month. Ahead of the wedding ceremony in July, guests from around the world have been invited to three-day pre-wedding festivities beginning March 1, at Gujarat's Jamnagar, which houses Ambani's mega oil refineries. Anant Ambani, the youngest of the three children Mukesh Ambani and Nita Ambani have, is set to marry Radhika Merchant - the younger daughter of <keyword id="20720133" type="General" weightage="20" keywordseo="viren-merchant" source="keywords">Viren Merchant</keyword>, CEO of Encore Healthcare, and entrepreneur Shaila Merchant. With Jamnagar not having five-star hotels, ultra-luxury tents housing best of facilities, including tiled bathrooms are being erected for the guests. The guest list includes international business leaders like Meta CEO Mark Zuckerberg, Microsoft founder Bill Gates, Alphabet CEO Sundar Pichai, Adobe CEO Shantanu Narayen, Walt Disney CEO Bob Iger, BlackRock CEO Larry Fink, Adnoc CEO Sultan Ahmed Al Jaber, and EL Rothschild chair Lynn Forester de Rothschild, sources said. Indian business magnates invited include Gautam Adani and family, Tata Sons chairman Natarajan Chandrasekaran , Aditya Birla Group Chairperson Kumar Mangalam Birla, and his family, Godrej family, Infosys chairman Nandan Nilekani, RPSG Group head Sanjiv Goenka, Wipro's Rishad Premji, banker <keyword id="19998917" type="General" weightage="20" keywordseo="uday-kotak" source="keywords">Uday Kotak</keyword>, vaccine maker Serum Institute of India CEO Adar Poonawalla, Airtel chairman Sunil Mittal, Hero's Pawan Munjal, Roshni Nadar of HCL, Zerodha co-founder Nikhil Kamath, entrepreneur Ronnie Screwvala and Sun Pharma's Dilip Sanghi. Top cricketers, including Sachin Tendulkar and family, MS Dhoni and family, Rohit Sharma, K L Rahul, Hardik and Krunal Pandya and Ishan Kishan too are on the invitee list. <keyword id="19897820" type="General" weightage="20" keywordseo="bollywood" source="keywords">Bollywood</keyword> will be represented by mega stars Amitabh Bachchan and family, Abhishek and Aishwarya Rai Bachchan, Shahrukh Khan and family, Amir Khan, Salman Khan, Akshay Kumar and Twinkle Khanna, Ajay Devgn and Kajol, Saif Ali Khan and family, Chunky Pandey, Ranveer Singh and Deepika Padukone, Ranbir Kapoor and Alia Bhatt and <keyword id="19895145" type="General" weightage="20" keywordseo="vicky-kaushal" source="keywords">Vicky Kaushal</keyword> and Katrina Kaif. Madhuri Dikshit and Sriram Nene, Aditya and Rani Chopra, Karan Johar, Boney Kapoor and family, Anil Kapoor and family, <keyword id="19946417" type="General" weightage="20" keywordseo="varun-dhawan" source="keywords">Varun Dhawan</keyword>, Sidharth Malhotra, Shraddha Kapoor and Karisma Kapoor, Rajnikanth and family are are on the invitee list. The three-day-long event will be themed, according to 'Event Guide' sent to the invitees. Chartered flights have been arranged to ferry guests from Delhi and Mumbai to Jamnagar and back. Guests are expected to arrive by mid-day on March 1. Hollywood pop-icon Rihanna, along with Diljit Dosanjh and others, will enthrall the guests with their performances. Day 1 celebrations are called 'An Evening in Everland' where guests are expected to wear elegant cocktail attire. Day 2 will host 'A Walk on the Wildside' with 'jungle fever' being the suggested dress code. It is set to be held outdoors in the Ambanis' animal rescue centre in Jamnagar. The guests will then proceed to 'Mela Rouge' which will be a potpourri of desi activities and the guests will wear their favourite south Asian attires. For Day 3, two events - 'Tusker Trails' and 'Hashtakshar' are planned. The first event will be an outdoor affair where the guests will enjoy the natural beauty of Jamnagar and for the last and final event, they'll be dressed in 'heritage Indian Wear'. All the guests will be provided with personal laundry services, saree drapers and other custom assistance, the nine-page event guide said.

Billionaires to Bollywood: All invited to Anant Ambani's pre-wedding festivities

Chandigarh, Dec 4 () Leading corporate honchos of the country, including Sunil Mittal, Uday Kotak, Sanjiv Puri, will attend the two-day Progressive Punjab Investors Summit, starting on Thursday.
 The event, which is being organised by the Punjab government, will see participation from micro, small and medium enterprises (MSMEs), leading industrialists, new-age entrepreneurs, foreign missions and other dignitaries.
 An interactive session with Chief Minister Amarinder Singh on Thursday will be the highlight of the investors' summit, with a focus on putting the state's MSME sector on the centre stage of the global value chain, the state government said in a release on Wednesday.
 The chief minister's session on 'Blueprint for accelerating growth' will have East India Hotels Executive Chairman P R S Oberoi, Kotak Mahindra Bank Executive Vice Chairman &amp; MD Uday Kotak, ITC Chairman Sanjiv Puri, Hinduja Group Europe Chairman Prakash Hinduja, Hero Enterprise Chairman Sunil Kant Munjal and Vardhman Textiles Vice Chairman &amp; Joint Managing Director Suchita Jain as participants, it said.
 Satoshi Suzuki, Ambassador of Japan to India, will deliver his keynote address and will also set the tone of the two panel discussions, the release said.
 The second panel discussion of the afternoon session will see participation of Bharti Enterprises Chairman Sunil Bharti Mittal, HDFC MD Aditya Puri, DLF Vice Chairman Rajeev Singh, Sharaf Group Vice Chairman Sharafuddin Sharaf and Bharat Hotels (Lalit Hotels) CMD Jyotsna Suri. 
 The investor summit is set to build strong business partnerships for the state across sectors, with thrust on MSMEs, it added.
 It will be a platform for global leaders, industrialists and experts to come together to share their narratives on emerging markets and discuss ways to address the shifting industry requirements in this age of disruptions, said Vini Mahajan, Additional Chief Secretary, Punjab.
 The panel for MSME session will include representatives from World Bank and UNIDO, and will set the context of the summit's theme. 
 The highlight of the session will be an MoU exchange with e-commerce platforms Flipkart and Amazon. 
 The UK Country session will see a discussion on 'Punjab &amp; UK: Opportunities for Innovation and Technology'.
 British Deputy High Commissioner to India Andrew Ayre will make a presentation during the session, the release said. CHS VS RVK

Leading industrialists to take part in Punjab investors' summit starting Thursday

India is home to Asia’s second richest billionaire, the world’s costliest home and a bunch of millionaires. It is also home to some of the most well paid executives. 
 <keyword id="6355515" type="ORGANIZATION" weightage="80" keywordseo="Business">Business</keyword> Insider compiles a list of the highest paid <keyword id="6407546" type="COMPANY" weightage="80" keywordseo="CEOs">CEOs</keyword> across India. 
 
Kalanithi Maran 
 
Annual Salary: Rs 59.89 Crores 
 
It’s obvious that the most profitable television network in Asia would fill the pockets of its bosses. While the group’s TV channels and news publications are concentrated in South India, its FM channels and DTH services and enjoyed pan India. 
 
Kavery Kalanithi 
 
Annual Salary: Rs 59.89 Crores 
 
The wife of Kalanidhi Maran and Executive Director of Sun TV Network is the second highest paid executive. According to Fortune she is also the highest paid woman executive in India. 
 
Image credit: The Mint 
 
Naveen Jindal 
 
Annual Salary: Rs 54.98 Crores 
 
The Chairman of Jindal Steel and Power Ltd claims the third spot with an annual salary of around Rs. 55 Crores. Mr. Jindal is also well known for his efforts that led to the revision of the Flag Code of India which allows every Indian citizen the right to fly the National Flag 365 days a year. 
 
Kumar Mangalam Birla 
 
Annual Salary: Rs 49.62 Crores 
 
The current Chairman of the Aditya Birla Group is next in line. Kumar Mangalam Birla took over in 1995 at the tender age of 28 years after his father’s death. He then led the company to around 26 acquisitions in 17 yrs - the highest by an Indian company. 
 
Pawan Munjal 
 
Annual Salary: Rs 32.80 Crores 
 
The MD and CEO of Hero Moto Corp is the fifth member on the list. Pawan Munjal is the man behind the growth and success of the group. He is also a board member of the Indian Institute of Management, Lucknow. 
 
Brijmohan Lall Munjal 
 
Annual Salary: Rs 32.73 Crores 
 
The founder and Chairman of the Hero Group can also claim to be the president of Confederation of Indian Industries, the Society of Automobile Manufacturers in the past, and a member of RBI board. 
 The founder of the $32 billion <keyword id="6356323" type="UNKNOWN" weightage="80" keywordseo="Enterprise">enterprise</keyword> has been awarded with the Padma Bhushan. 
 
Sunil Kant Munjal 
 
Annual Salary: Rs 31.51 Crores 
 
Sunil Kant Munjal was appointed Joint Managing Director of Hero MotoCorp on Aug 17, 2011 for a period of 5 years. He was appointed on the board of directors in 2006 as a non-executive director. 
 
P R Ramasubrahmaneya Rajha 
 
Annual Salary: Rs 30.96 Crores 
 
While the name maybe Ramco Cement, the company has its hands into cement, mortar and wind power generation, all thanks to the Chairman and MD P R Ramasubrahmaneya Rajha who leads the company. Rajha has been associated with the group since its foundation in 1938. 
 
Image credit: Thynkfeed 
 
Shinzo Nakanishi 
 
Annual Salary: Rs 30.90 Crores 
 
Shinzo Nakanishi has been leading India’s largest auto manufacturer Maruti Suzuki since 2007. He was made the Director by Suzuki in 1999. 
 
 
Murali K Divi 
 
Annual Salary: Rs 26.46 crore 
 
Chairman and Managing Director of Divi's Laboratories Dr. Murali K Divi has 30 years+ of experience in the pharmaceutical industry. He is a member of several important medical associations like the American Pharmaceutical Association, American Cosmetic Society, American Chemical Society and American Institute of Chemical Engineers. 
 
Image credit: Forbes 
 
(Image credit: Indiatimes)

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For us, the responsibility is not just to grow the brand but also the e-cycle segment: Aditya Munjal, Hero Lectro

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