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<ul><li>It is no secret that consumers have started making their purchase decisions based on brands' sustainability practices and it is a topic that just cannot be ignored anymore.</li><li>However, only a handful of brands in India seem to have cracked the code.</li><li>Kantar’s latest report on sustainability revealed that 68% of consumers surveyed worry brands are involved in social issues just for commercial reasons.</li><li>Paru Minocha, Managing Director, South Asia, Insights Division, Kantar tells us how brands convince their consumers about their true purpose and make a real change.</li><li>She further shares what sustainability means to consumers of today and how brands can navigate their journey.</li></ul>Today's consumers expect brands to have a social and environmental purpose. It is, therefore, becoming increasingly imperative for brands to revisit their company’s purpose, hire more resources to focus on sustainability, look for raw material that doesn’t hurt the environment and burn a hole in consumer’s pockets -- all at the same time. <keyword id="11955519" type="General" weightage="20" keywordseo="Kantars-Asia-Sustainability-Foundational-Study" source="Orion">Kantar’s Asia Sustainability Foundational Study</keyword> revealed that 68% of consumers surveyed worry that brands are involved in social issues just for commercial reasons, which means they expect brands to walk-the-talk, see concrete results in terms of how much they contribute to earth’s ecological footprint and only then make a purchase decision. 77% of them said that they are willing to invest time and money supporting companies that do good. In fact, 66% of consumers said that they have stopped buying products/services that have a negative impact on the environment and society. At the same time, the report also highlighted that India is still a price-sensitive market and while purchasing a product, 84% of the same set of consumers said that they end up prioritising saving money over saving the planet. With this, arises a stark dichotomy between Indian consumers’ ideal preferences and real money-spending habits, which Kantar refers to as ‘The Value-Action Gap.’ We caught up with Paru Minocha, Managing Director, South Asia, Insights Division, Kantar to understand how can brands and consumers close this gap, make a real difference, stop putting the environment on the back-burner, what are some of the hot areas in sustainability today and much more. Excerpts: Q. How do you think consumer behavior has changed after the pandemic? How important is sustainability for them today? The pandemic has precipitated and accelerated a change that was already coming. The realization that taking care of oneself and the family will not be enough to keep everyone safe is quite stark. This gives a new meaning to community and responsible living. It also gave us the time to pause and reflect and the consciousness of sustainability could be stemming from both of these. Kantar’s Shopper Barometer report also showcases that after the first wave of the pandemic, 72% consumers were on the look-out for natural / healthier alternatives of their regular use products. Q. What are some of the areas within sustainability that brands should consider? The first thing that brands need to consider is that consumer expectations and concerns around sustainability are discrete and differ by categories. Therefore, brands need to recognize where to play- which plank or concern to own and drive. Secondly, brands need to be careful and understand that some are hygiene factors and they may not win big if they offer them, but might lose if they don’t. In Kantar’s Sustainability framework, we call these factors- Shields. The other are concerns that are important to consumers and associated with the category, but not yet championed. These are referred to as Swords- which can be used as differentiating planks by the brands. Q. Have brands put sustainability on the back burner due to the pandemic? Considering that consumers are asking for no-touch delivery and minimum contact, which can only be possible with one-time-use packaging. During the pandemic priority for brands was to be available, be safe and keep safe. A lot of good has come out of this churn and sustainability indeed came to the fore-front. A lot of introspection is also happening, both by consumers and brands. While some brands may have paused, many others have activated sustainable behaviors during this time. An example from the food and beverage industry comes to mind- since a consumer could not enjoy coffee at a café and takeaways were essential, some brands like KC Roasters gave 10% off if consumers carried their own mug. Q. It is no secret that consumers have started making their purchase decisions basis a brand's sustainability practices and it cannot be ignored anymore. However, only a handful of brands in India seem to have cracked it. It is now evident in the report considering that 68% worry brands are involved in social issues just for commercial reasons. So, how can brands convince their consumers about their true purpose and make a real change? Brands now have to put sustainability at the heart of their business. This is a non-negotiable. When it is authentic and when it becomes a purpose, consumers will trust you and connect with you better. This gives a brand the power in the consumer relationship. Any halfhearted measures will be seen through and those brands will risk rejection by consumers. Q. Can you share a few examples of Indian brands where they have addressed sustainability successfully? It’s a journey that is just starting across many organizations. It’s not limited to niche brands, but is a movement that will go mass soon. A global example is MAC, that pushes the consumers to adopt recycling by giving a free lipstick on return of 6 empties. In India, Dabur is piloting selling toothpaste without the carton pack to save paper and Colgate has launched a first of its kind recyclable toothpaste tube. Another example is Hindustan Unilever (HUL) piloting an in-store vending model ‘Smart Fill’ at Mumbai’s Reliance Smart Acme Mall. Users are offered INR 30 off on the MRP if they use their own bottle and INR 15 off to those who purchase the Smart Fill bottle. Organic clothing, increasing popularity of electric or hybrid cars all show we are making steps in the right direction. Q. What are some of the things that brands should keep in mind while working on their <keyword id="11955518" type="General" weightage="20" keywordseo="sustainability-roadmap" source="Orion">sustainability roadmap</keyword> to attract more consumers? How can brands close the Value-action gap? Brands need to give consumers a compelling reason to buy. Fundamental marketing principles continue to apply and sustainability in isolation will unlock consumer behaviour change. Brands need to handhold and nudge the consumers along this behavior change. It is important for them to solve for the 3C’s going forward: <ul><li>Cost: and creating desire</li><li>Comfort: and give a clear advantage over current brand</li><li>Convenience: by being present in the moment of truth and making the switch easy</li></ul>

Making sustainable choices that don’t burn a hole in your pocket: Here’s how brands can help close The Value-Action Gap

<ul><li>According to the <keyword id="7426326" type="General" weightage="20" keywordseo="Kantar-report" source="Orion">Kantar report</keyword>, consumer reactions in the wake of COVID-19 continue to evolve and the Indian market presents several opportunities for the <keyword id="2782833" type="General" weightage="100" keywordseo="fmcd" source="Orion">FMCD</keyword> brands.</li><li>The report further states that cautious consumption is the norm - Hygiene, Health and Wellness are key consumer concerns.</li></ul>Kantar, the world’s leading data-driven analytics and brand consulting company, unveiled the FMCD Sustainability report, “Walking the Talk on Sustainability with Consumers – a roadmap for India’s FMCD Sector.” The report is a guide for the FMCD marketeers highlighting how the intersection of the FMCD sector and sustainability will further enable growth. It aims to provide key sustainability roadmaps for FMCD brands to help them navigate the ecosystem with sustainable solutions. The India FMCD market is at an interesting juncture today. Emerging from the pandemic, the Indian market presents significant opportunities; starting with consumption patterns that have changed significantly – towards safety, premiumness and technologically advanced products. The Kantar report reveals that the Indian consumers are also becoming more conscious about the impact of human activity on climate change and other environmental factors. In fact, when we look at the Indian consumer’s top concerns within the ‘Sustainable Development Goals’ (SDGs) framework, issues beyond poverty and hunger emerge. Launched at the recent CII’s FMCD Summit, the Kantar report, provides key recommendations for the FMCD brands, as below - <ol><li>Embed Green Lifecycle across portfolio and processes</li><li>Connect the environment and the everyday</li><li>Address Consumer Knowledge Barriers</li><li>Mainstream PLM Strategies around Repairability, Packaging, Access-based business models, and Return &amp; Recycling</li><li>Meeting accountability expectations</li></ol>With the suggested roadmap, the report also highlights noticeable consumer trends that lead to a collective accountability of both businesses and audiences, seeking the path to a more sustainable world. The India Story: Post-pandemic Consumer Attitudes and Behaviour According to the Kantar report, consumer reactions in the wake of COVID-19 continue to evolve and the Indian market presents several opportunities for the FMCD brands. The report further states that cautious consumption is the norm - Hygiene, Health and Wellness are key consumer concerns, where 91% Indian households are washing hands more often now, 47% Indian households claim increased toilet cleaning, more so in rural (49%) vs urban (43%). While the pandemic caused worry and panic, there was a high demand in the FMCD Health and Wellness space. New-market segments such as Air purifiers, ACs with purification filters, smaller sub-categories such as UVC disinfection categories, UVC Desk lamps, and growth of personal care health tech products such as smartwatches and fitness monitors saw amped-up sales. Data also suggests that consumers are changing education and work codes, with work ecosystems being reshaped by digital transformation. With accelerated digital adoption, there is 125% growth in usages of smart devices among internet users, paving way for the emergence of a smart home. Some of them are – Smart Lights, Smart Speakers, Smart Air Purifiers, Smart Display, Smart Home Entertainment and Smart Cleaning There is also evidence to suggest that ‘value’ is a key factor for consumers since post-pandemic financial concerns have cropped up, where 73% attribute COVID to have impacted household income, while 67% pay greater attention to prices while shopping. This has led to an overall joint accountability of both businesses and consumers towards adopting a stronger sense of collective corporate responsibility. <keyword id="13251832" type="General" weightage="20" keywordseo="paru-minocha" source="Orion">Paru Minocha</keyword>, Managing Director, Qualitative &amp; Lead- Sustainability Practice, South Asia, Insights Division, Kantar said, “The FMCD sector is witnessing rapid growth even in post pandemic phase while we’ve also seen a great consumer shift towards sustainability and the environment urging brands to rethink their strategies. Consumers have greater expectation from companies than from themselves; this is likely to be amplified in FMCD, where personal behaviors post purchase is led primarily by the policies/features of the product and company they use. With this report, we are putting forward recommendations to brands which help in solving customer tensions with sustainable solutions, addressing barriers such as packaging, service models, repairability, and return and recycling policies. There is opportunity for brands to target active consumers who are engaged to the core issue and instill structured business solutions to help overcome them with time” Commenting on the focus and relevance of FMCD, Sushmita Balasubramaniam, Shopper and CX Domain Lead, Kantar said, “Consumers today are more aware and concerned about sustainability and other issues like pollution, carbon emissions, etc. For example, in the mobile phones category, consumers expect brands to address macro environment issues of carbon emissions and plastic pollution whereas in the computing category – carbon emissions, packaging and tax evasion are palpable concerns. In appliances, concerns exist on pollution (air and plastic) and emissions besides packaging. While we see consumers consciously making smarter choices, the responsibility resides with brands and marketeers to provide sustainable solutions to resonate and build credibility with their audiences moving forward.”

Kantar's guide for FMCD brands to help them navigate the ecosystem with sustainable solutions

<ul class="summary-list"><li>His Royal Highness The Prince of Wales announced Sunday the creation of the 'Terra Carta' - a charter giving businesses a roadmap to a more sustainable future.</li><li>The charter is backed by some of the world's biggest businesses, including: Bank of America, BlackRock, Unilever, AstraZeneca and BP.</li><li><keyword id="20898" type="CITY" weightage="60" keywordseo="prince-charles">Prince Charles</keyword>' has also launched the new '<keyword id="1102898" type="ORGANIZATION" weightage="60" keywordseo="natural-capital">Natural Capital</keyword> Investment Alliance' which aims to target $10 billion by 2022</li></ul>His Royal Highness The Prince of Wales has unveiled a new <keyword id="49089" type="ORGANIZATION" weightage="60" keywordseo="Sustainability">sustainability</keyword> charter, named "Terra Carta," backed by leading international businesses, including Bank of America, BlackRock, Unilever, AstraZeneca and BP.The charter, designed by Apple's former Chief Design Officer <a href="https://www.businessinsider.com/the-fabulous-life-of-sir-jony-ive-2014-7">Sir Jony Ive</a>, is a 10-point roadmap to 2030 for businesses, supporting the likes of the Paris Climate Agreement. With nearly 100 actions for businesses, the plan should act as a "basis of a recovery plan that puts Nature, People and Planet at the heart of global value creation," according to a press release. Each actor was given a framework for their individual plans, it said. This publication is the latest endeavour by Prince Charles to support sustainable practices in the private sector, following his speech at Davos in January 2020 and the creation the Sustainable <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">Markets</keyword> Initiative."The 'Terra Carta' offers the basis of a recovery plan that puts Nature, People and Planet at the heart of global value creation - one that will harness the precious, irreplaceable power of Nature combined with the transformative innovation and resources of the private sector," HRH The Prince of Wales will say at a One Planet Summit event.Read more: <a href="https://www.businessinsider.com/stock-picks-top-sustainable-global-cyclical-recovery-investing-morgan-stanley-12" target="_blank" rel="noopener">Morgan Stanley picks the top 90 global sustainability stocks that will soar as economic recovery gets underway - including one with an upside of 137%</a>Read more: <a href="https://www.businessinsider.com/investing-strategy-esg-beating-benchmark-tesla-lazard-2020-11" target="_blank" rel="noopener">Lazard's top ESG stock-picker outlines the 3-part strategy he's used to beat 75% of his peers and smash his benchmark without paying Tesla-like prices</a>One of the initiative's aims is to drive investment into Nature-based and engineered solutions that address the climate and biodiversity crises. To that end, Prince Charles' SMI created the Natural Capital Investment Alliance, which seeks to increase natural capital allocation by $10 billion by 2022.Natural capital is the term used to describe the stock of combined resources that make human life on Earth possible. For example, plants, animals, minerals, soil, air and water.The alliance, founded alongside HSBC Pollination, Lombard Odier and Mirova, will also pursue natural capital investment through corporate offsetting and carbon pricing prospects.Terra Carta's supporters already include some of the biggest businesses in the world, with Brian Moynihan, Bank of America's CEO and Chairman, calling it "a comprehensive roadmap for the private sector to help drive toward a sustainable future.""By aligning development objectives within our operating models the private sector can marshal the resources that will be needed to reach the development goals. <keyword id="10574579" type="UNKNOWN" weightage="60" keywordseo="hrh-prince-of-wales">HRH Prince of Wales</keyword>'s leadership and commitment has created a spirit of possibility that business leaders are proud to join," he added.Read more: <a href="https://www.businessinsider.com/4-esg-trends-morgan-stanley-jessica-alsford-investing-sustainability-climate-2020-11" target="_blank" rel="noopener">Jessica Alsford built Morgan Stanley's ESG research unit from the ground up. Here's how she advises clients on using ESG in their portfolios - along with 4 sustainability trends to watch.</a>Read more: <a href="https://www.businessinsider.com/investing-outlook-2021-big-trends-to-enhance-portfolio-refinitiv-oil-2021-1">A Refinitiv research chief outlines 6 key investing themes that will drive markets in 2021 - and explains how you can capitalize on each within your portfolio</a>The charter's commitments include:<ul><li>Commit to rapidly accelerating the world's transition towards a sustainable future.</li><li>Recognize that ensuring the integrity of all ecosystems, on land and under water, requires that climate, oceans, desertification and biodiversity be treated as one common system and addressed simultaneously.</li><li>Acknowledge that we need to make health our goal; individual health, community health, economic health and the health of our Natural resources (e.g. soil, air and water).</li><li>Recognize the importance of 'local' - local traditions and culture, local products, local jobs and local sustainability - and how these 'locals' connect and support each other in the wider tapestry of regional and global systems.</li><li>Acknowledge that Nature underpins the inherent prosperity, wellbeing and future of all people and the one planet we share. Further, that the restoration of the natural world is of common benefit to all humankind irrespective of borders.</li><li>Acknowledge that the required global trajectory is a sustainable one, where the private sector has a critical role to play. To accelerate along this trajectory, a 'future of industry' and 'future of economy' approach must be taken.</li><li>Take into account the need to ensure a skilled workforce and cadre of leaders that are prepared to participate in a fair, equitable and just transition towards a sustainable future.</li><li>Recognize that to scale sustainable solutions and investment, cross-border and longer-term 'mega' projects need to be explored underscoring the importance of public, private and philanthropic collaboration.</li><li>Acknowledge the need for net zero commitments to be achieved by 2050 or sooner. Setting more ambitious timelines, such as 2035, emphasizes and catalyzes immediate action, continuous innovation and improvement.</li><li>Undertake to collaborate, share knowledge and ideas to propel the world towards sustainability at a faster pace through public, private and philanthropic collaboration.</li></ul>Read more: <a href="https://www.businessinsider.com/stock-market-investing-tips-to-play-the-democrat-sweep-strategy-2021-1" target="_blank" rel="noopener">What does the Democratic sweep actually mean for investors? We spoke to 5 investing experts to find out how to make the most of Biden's blue Congress</a>Initial Supporters of the Terra Carta include: AstraZeneca, Fidelity International, Bank of America, freuds, Jony Ive/LoveFrom, Refinitiv, Manyone, Heathrow Airport, Coutts, IIGCC, HSBC, Schroders, EY, BP, Macquerie, State Street, Pollination, Lombard Odier, Mirova, Drax Group, Eurasia Resources Group, EFI, Compass Group, ReNew Power, Polymateria, CCm Technologies, Lanzatech.

HRH The Prince of Wales unveils new sustainability charter, backed by the likes of Bank of America and AstraZeneca

By Yoshita Singh United Nations, Jul 11 () India and Japan at the UN have said that a strengthened cooperation in science, technology and innovation is key to accelerating the collective response to the COVID-19 pandemic which has infected over 12 million people and killed more than 560,000 globally. Scientific Secretary, Office of the Principal Scientific Adviser to the Indian government Dr Arabinda Mitra, delivering a joint statement at a session on Science, Technology and Innovation (STI) here on Friday, said that Japan and India organised a series of bilateral and multi-stakeholder meetings last month. "We believe that a strengthened STI cooperation is key to accelerating our collective response to COVID-19, as well as to achieving the human security, by building on the foundations for inclusive and sustainable development," Mitra said on behalf of Japan and India at the 2020 High-Level Political Forum session STI. As the members of the global pilot programme on STI for Sustainable Development Goals (SDGs) roadmaps, the two countries organised the meetings. Japan and India offer to extend their collaboration in applying frontier technologies in several SDG areas, including to collaborate with the UN Interagency Task Team on STI… in supporting pilot countries from Africa and other countries in the region, in formulating and implementing their STI for SDGs roadmaps, he said. Mitra said this will be enabled by sharing of experience, knowledge and capacities in the spirit of South-South and Triangular Cooperation. India and Japan also reaffirm that STI for SDGs roadmaps is a valuable working tool to strengthen national efforts on mapping and international cooperation on knowledge sharing, technology transfer, capacity-building, governance, networks and finance for countries to better address global challenges including those posed by the COVID-19 pandemic by ensuring access, equity and inclusion. New Delhi and Tokyo call for enhanced multi-stakeholder partnerships by launching "Partnership in Action" and leveraging more dedicated and diversified financing resources, he said. "We further commit to work together to foster closer scientific and technological collaborations by integrating research (knowledge creation), with education (knowledge dissemination) and innovation (knowledge application)," Mitra said. India has played an important role in the negotiations for introduction of a UN driven Technology Facilitation Mechanism (TFM), as an inclusive and equitable tool for SDG delivery based on affordable, accessible and available technological innovation, he said. The global pilot programme on STI is inspired by the collective commitment of both the Japanese and Indian governments in harnessing the prowess of Science and Technology for promoting inclusive development, keeping in mind the needs and aspirations of people and towards delivery of a larger global good through building international partnerships, Mitra said. A global pilot programme on STI for SDGs roadmaps was announced during the high-level political forum last year, focusing on five pilot countries: Ghana, Ethiopia, Kenya, India and Serbia. Sources said that Japan and India, taking forward their close partnership in the area of science and technology, have agreed to extend their collaboration to the area of SDGs through the programme. The two countries have decided to leverage the Society 5.0 Plan of Japan and the Artificial Intelligence (AI) for All strategy of the Indian government to share the best practices that address the resolution of social problems through the application of technology. According to Johns Hopkins Coronavirus Resource Center, the contagion has infected over 12 million people and killed more than 560,000 across the world. The COVID-19, which originated in China's Wuhan city in December last year, has also battered the world economy with the International Monetary Fund saying that the global economy is bound to suffer a "severe recession". Scientists are racing against time to find a vaccine or medicine for its treatment. YAS CPS

Strengthened cooperation in science, tech key to accelerating COVID-19 response: India, Japan at UN

<keyword id="4233468" type="General" weightage="80" keywordseo="mg-motor-india" source="Orion">MG Motor India</keyword> on Wednesday said it plans to offer majority stakes to local partners over the next 2-4 years as part of a five-year business roadmap in the country. <keyword id="5287148" type="General" weightage="100" keywordseo="mg-motor" source="Orion">MG Motor</keyword> is a British brand which is currently owned by China's largest automaker <keyword id="317281" type="General" weightage="20" keywordseo="saic-motor-corp-" source="Orion">SAIC Motor Corp.</keyword> The automaker, which has lined up Rs 5,000 crore to expand operations in the country by 2028, has been looking to raise capital for sometime now to fund its next phase of growth. The company's plans to bring in more capital to the country from its Chinese parent have not been successful so far. As per industry sources, the automaker has been waiting for government approval for around two years now and has therefore started looking for other options to raise capital. Elaborating on its roadmap, the company said it has plans to set up its second manufacturing plant in the country, taking its installed capacity to 3 lakh units per annum and roll out new products for the domestic market, including electric vehicles, as part of its five-year business roadmap in the country. The company currently rolls out products from its manufacturing plant in <keyword id="6389723" type="General" weightage="20" keywordseo="halol" source="Orion">Halol</keyword>, Gujarat, which it had acquired from <keyword id="4581" type="General" weightage="50" keywordseo="general-motors" source="Orion">General Motors</keyword>. The Halol plant can produce up to 1.2 lakh units per year. The automaker said it aims to launch 4-5 new cars in the country, with a focus on EVs. The company expects its EV portfolio to contribute up to 65-75 per cent of total sales in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>, it noted. The automaker said it is also exploring setting up cell manufacturing and hydrogen fuel-cell technology through joint ventures or third-party manufacturing. With expansion plans in place, the automaker aims to have a total workforce of 20,000 by 2028. "The company's unwavering dedication to India is deeply ingrained in our <keyword id="16833980" type="DOMAIN" weightage="20" keywordseo="ethos" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="ethos" meta.entityname="Ethos Ltd." meta.entityid="23844" meta.seoname="ethos-ltd">ethos</keyword>. As we pave the way for our next phase of sustainable growth, we have outlined a clear roadmap and vision for 2028. Our growth strategy is centred around strengthening localisation, aligning more closely with the government's 'make in India' initiative while innovatively augmenting our promise consistently, and diligently meeting the evolving needs of the market," MG Motor India CEO <keyword id="17374417" type="General" weightage="50" keywordseo="emeritus-rajeev-chaba" source="Orion">Emeritus Rajeev Chaba</keyword> stated. He further said that the automaker is committed to making a positive impact on society. Chaba also highlighted the company's focus on promoting gender diversity. The company said it aims to train 1,00,000 students under its 'MG Nurture' programme. The students will be trained in EV, <keyword id="2572482" type="General" weightage="50" keywordseo="adas" source="Orion">ADAS</keyword> and connected car technologies. MG Motor India sells models like <keyword id="1027495" type="General" weightage="50" keywordseo="hector" source="Orion">Hector</keyword>, Astor, <keyword id="1218145" type="DOMAIN" weightage="20" keywordseo="gloster" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="gloster" meta.entityname="Gloster Ltd." meta.entityid="12267" meta.seoname="gloster-ltd">Gloster</keyword> and ZS EVs in the market. It recently introduced a small EV, Comet, in the domestic market. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/top-10-fastest-fifties-in-ipl-history/slidelist/100126211.cms">Top 10 fastest fifties in IPL history</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/investment-supertrends-2023-ai-to-digitalisation-and-green-energy/articleshow/100126382.cms">AI to digitalisation and green energy: Supertrends defining investment for today and the future</a>

MG Motor India plans to dilute majority stakes to local partners

<keyword id="71" type="POSITION" weightage="80" keywordseo="Prime-Minister">Prime Minister</keyword> <keyword id="6354477" type="PERSON" weightage="100" keywordseo="Narendra-Modi">Narendra Modi</keyword> has said that he has a ‘clear roadmap’ to propel people’s entrepreneurial nature to sustain a growth rate of 8 to 9%. India does not need to follow the Chinese model to make economic progress. 
 
Talking about China’s speed of growth, Modi, in an interview to CNN, said, “If China is one example, then democratic countries provide another example. They have also grown fast. You can’t say that growth is not possible because of democracy. Democracy is our commitment. It is our great legacy, a legacy we simply cannot compromise. Democracy is in our DNA.” 
 When asked about comparison between the economy of India and China, he said, “India does not need to become anything else. India must become only India. This is a country that once upon a time was called ‘the golden bird’... If you see the details of the last five or 10 centuries, you will see that India and China have grown at similar paces. Their contributions to global <keyword id="35050" type="CITY" weightage="80" keywordseo="gdp">GDP</keyword> have risen in parallel, and fallen in parallel. Today’s era once again belongs to Asia. India and China are both growing rapidly, together. That is why India needs to remain India.” 
 
Answering a question on whether India can achieve growth rate of 8 to 9%, which China has been achieving consistently for the last 30 years, he said, “It is my absolute belief that Indians have unlimited talent. I have no doubt about our capabilities. I have a lot of faith in the entrepreneurial nature of our 1.25 billion people. There is a lot of capability. And I have a clear road-map to channel it.”

India Doesn’t Need To Imitate China To Drive Growth

By Aditi Khanna London, May 2 () Tata Steel has announced plans to help shape regional efforts in South Wales to decrease carbon emissions, aimed at creating the world's first net-zero industrial cluster. As a leading member of the South Wales Industrial Cluster (SWIC), the Indian steel major said on Friday that its plan could see Tata's integrated steelworks at Port Talbot in the region playing a major role as one of four possible anchor sites. The first phase of SWIC's Roadmap and Deployment project received a significant boost thanks to grant funding of GBP 295,000 from UK Research and Innovation -- a partnership of universities, research organisations, businesses, charities, and government -- with more funding available for future stages. "SWIC presents a key opportunity to support Wales' net zero ambitions by uniting the various decarbonisation programmes in South Wales into a single roadmap for the first time," said Chris Williams, Manager Energy Research at Tata Steel in Europe. "By helping to develop an industrial strategy, which allows companies in Wales to grow while also reducing CO2 emissions, the plan will create new jobs and provide a sustainable industrial base for future generations," he said. The announcement is one of a number of initiatives to help Tata Steel's European business achieve its ambition of becoming carbon neutral by 2050. Phase one of the project will create a plan for a series of local zero-carbon areas to lower emissions, create skilled jobs and enhance well-being across South Wales. If SWIC projects proceed successfully, they will improve the UK's ability to locally manufacture steel products with low carbon emissions, helping to drive the low-carbon future of UK construction and other sectors such as defence, car manufacturing, packaging and even coin production. The SWIC initiatives will also make a vital contribution to the economic resilience of the Welsh economy by bringing in new high-skilled jobs and ensuring operations are sustainable in the long term, Tata Steel said. Key areas for SWIC in the first phase of the project include examining the infrastructure required for the development of the hydrogen economy, for large scale CO2 capture, utilisation and storage (CCUS) and transport. Other partners in SWIC include Costain, CR Plus, RWE, Progressive Energy, University of South Wales, Celsa Manufacturing, Tarmac, Valero Energy, Progressive Energy, Capital Law, Flexible Process Consultants the Port of Milford Haven and Vale Europe. Tata Steel is one of Europe's leading steel producers, with steelmaking in the Netherlands and the UK, and manufacturing plants across Europe. The company supplies high-quality steel products across a wide range of sectors, including construction and infrastructure, automotive, packaging and engineering. It is currently said to be in talks with the UK government for support through the coronavirus pandemic lockdown. AK INDIND

Tata Steel says edging towards carbon neutral goal in UK

NEW DELHI: The world’s second-largest standing <keyword id="15350" type="ORGANIZATION" weightage="100" keywordseo="Army">Army</keyword> is fast running out of ammunition. Tanks and air defence units, artillery batteries and infantry soldiers are all facing the crunch. The Army is, obviously, tight-lipped on the ammunition shortage. But a simple calculation reveals that at present, it may not have enough ammunition reserves to sustain a full-fledged war for even 20 days. 
 The norm is that war wastage reserves (WWR) should be adequate for 40 days of intense fighting, with 21 days earmarked for ammunition with shorter shelf-life. But according to a recent statement by Army chief General <keyword id="130318" type="PERSON" weightage="40" keywordseo="Bikram-Singh">Bikram Singh</keyword>, if there is proper budgetary support for the new ammunition roadmap, the Army should have 50 per cent WWR and three years of training ammunition by 2015. 
 
In other words, the Army is at not even 50 per cent WWR right now, which means it does not have adequate reserves to fight a war for even 20 days. It is expected to reach 100 per cent WWR only by 2019. 
 With the huge shortages adversely impacting both operational readiness and training, the 1.18-million strong <keyword id="6354416" type="ORGANIZATION" weightage="40" keywordseo="Indian-Army">Indian Army</keyword> is desperate that the new government which takes charge in May actively supports its new ammunition roadmap of around Rs 19,250 crore, both in terms of fund allocations and timelines. 
 
 
 This becomes all the more crucial since the Army has kick-started the raising of the new XVII <keyword id="184463" type="ORGANIZATION" weightage="40" keywordseo="Mountain-Strike-Corps">Mountain Strike Corps</keyword>, which will come into full force with over 90,000 soldiers over the next seven years, to add some much-needed teeth to its deterrence posture against China. This alone will see the raising of 32 new infantry battalions, apart from armoured, artillery and air defence units. 
 
The Army already has 13 corps, which includes the three "strike" ones headquartered at Mathura (I Corps), Ambala (II Corps) and Bhopal (XXI Corps). They add up to 382 infantry battalions, 281 artillery, 63 armoured, 44 mechanized and 56 air defence regiments, apart from other support arms like signals, engineers, ordnance and the like. 
 
Plans didn't take off 
 
On one hand, almost none of its critical modernization projects for new howitzers, helicopters, anti-tank guided missiles (ATGMs) or air defence guns have materialized till now. On the other, operational hollowness or "critical" deficiencies in ammunition and fuses for existing weapon systems have built up over the last decade. 
 
"There is a glaring mismatch between operational and training requirements vis-a-vis budget allocations, imports and the inadequate production capacity of our 39 ordnance factories," said a senior officer. 
 
The Army holds ammunition, which is costly and also has shelf-life, at three levels. The "first line" of operational and training ammunition is held at the battalion level in the shape of "on weapon and unit reserves", while the "second line" is with higher formations like brigades and divisions. 
 
Finally, there is the WWR, held in a dispersed manner. 
 With <keyword id="6366153" type="POSITION" weightage="40" keywordseo="Defence-Minister">defence minister</keyword> AK Antony sanctioning the roadmap, the next government will have to take it forward.

Army Running Low On Ammunition

<ul><li>What goes around comes around, especially when it comes to fashion and clothing.</li><li>According to PwC and Assocham, landfills are brimming with so much urban waste that by 2050, India is reportedly going to need a landfill that's the size of its capital New Delhi.</li><li>Before World Environment Day, we talk to Myntra about its new e-store, <keyword id="11376339" type="UNKNOWN" weightage="20" keywordseo="myntra-for-earth">Myntra for Earth</keyword>, that is targeting environment-conscious shoppers and aiming to focus more on sustainability as it moves forward.</li><li>Ayyappan Rajagopal, Chief Business Officer, Myntra tells us about the kind of response Myntra for Earth has seen so far, what kind of sustainable choices do consumers have, changing fashion trends in the future and Myntra for Earth’s goals for this quarter.</li></ul>The future of fashion is upcycling, recycling and sustainable clothing. Brands in India have already started taking baby steps towards converting fashion into a sustainable choice for consumers. More and more consumers are becoming aware of their fashion choices and realising that a worn-out piece of cloth they decide to throw, even as simple as a plain t-shirt, never really goes ‘away.’ It all ends up in a landfill. According to an Assocham and PwC report, landfills are brimming with so much urban waste that by 2050, India is reportedly going to need a landfill that's the size of its capital, New Delhi. At the same time, fast fashion is becoming a trend, which offers consumers the opportunity to buy more clothes at a lower price and that has taken a toll on the environment. It offers consumers an option to swiftly discard their clothes and buy new ‘trendy’ dresses. Consumers and brands aren’t ignoring these horrifying numbers anymore. This World Environment Day, many fashion brands have sworn to make a difference and be cognizant of the harmful effects their products can have on the environment. E-commerce giant Myntra has also stepped up. It has officially launched a sustainable e-store called ‘Myntra for Earth’ that only features eco-friendly fashion choices for all genders and age groups. It has already onboarded 70 leading fashion and lifestyle brands over the last 6 months to offer over 5500 styles to customers on its sustainable store. The store includes handloom and handcrafted, organic, natural-dyed, recyclable and eco-friendly, vegan, and cruelty-free options. The products ordered through this store are delivered in packets made from 100% recycled paper. It is now working towards scaling the number of brands in the store to ~2X by the upcoming quarter while adding another 4000 styles to the existing assortment. We caught up with Ayyappan Rajagopal, Chief Business Officer, Myntra to discuss the challenges of launching a new e-store during a global pandemic, its sustainability roadmap, a few trends that we can expect to see in sustainable fashion and platform’s goals to grow the store this quarter. Excerpts: Q. Tell us more about the 'Myntra for Earth’ store. When was it launched? What kind of response have you seen from the consumers? Launched in October 2020, "Myntra for Earth" is Myntra's sustainable store showcasing a more conscious choice to fashion and lifestyle shoppers. About 70 leading fashion and lifestyle brands have partnered with Myntra over the last 6 months to offer over 5500 styles to customers on its sustainable store. The store offers an immersive and engaging shopping experience for truly ‘sustainability-inclined’ conscious shoppers. As of now, we have seen increased growth in store visits and an uptick in revenue since its launch. The specially-curated store recognises the fashion industry’s sustainability efforts and also aims at augmenting the income opportunities of artisans and NGOs involved. Since its launch, Myntra For Earth store has received a phenomenal response. We are working towards scaling the number of brands in the store to ~2X by the upcoming quarter while adding another 4000 styles to the existing assortment. Q. How are you planning to market this store? Is there a larger campaign-in-the-making to raise awareness? Currently, we are focussing on having the right assortment of brands and products for the consumers in the store as the topmost priority. We have already received phenomenal response from consumers for the products of the store. Nearly 62% of the visitors to the ‘Myntra For Earth’ store are women, with metro cities contributing about 40% of the overall visits to the store. People of all age groups are seemingly conscious about their fashion choices and their impact on the environment in varying degrees. However, those in the age group of 21 to 35 are contributing the highest to the growth of the ‘Myntra For Earth’ store. Q. You have 70 brand partners on Myntra For Earth already. Can you mention a few names? Which are the most loved brands so far? Key names among many include H&amp;M, Mango, Unnati Silks, Bharatsthali, Pothys, Metro Kids Company, Kama Ayurveda, Forest Essentials and Fab India among others. <keyword id="2712840" type="PERSON" weightage="20" keywordseo="Myntra-Fashion">Myntra Fashion</keyword> Brands featured on the platform for their conscious collection include Taavi, Roadster and Ether. Q. So far, we have only seen a few start-ups that are completely sustainable. Are Indian legacy brands following suit? The MFE store has a combination of both home-grown brands like Taavi, Taniera and global brands like Levi, Mango &amp; H&amp;M that give importance to sustainability. Most of the legacy brands have a dedicated charter of well-defined goals on sustainability to educate consumers on organic fashion. Q. Is the packaging for Myntra Earth products different from others? Considering it aims to have a minimal effect on the environment? The majority of the orders are delivered using paper packaging at Myntra. We are gradually moving towards a complete eco-friendly paper for delivery purposes.

Myntra for Earth is working towards scaling the number of brands in the store to ~2X by the upcoming quarter while adding another 4000 styles to the existing assortment: Ayyappan Rajagopal of Myntra

Finance Minister Nirmala Sitharaman on Tuesday announced a cut in customs duty on minerals such as lithium, copper and cobalt, which are critical for nuclear energy, renewable and other sectors, to give a fillip to the energy transition. In her budget speech in Lok Sabha, Sitharaman recalled that in the interim budget she had announced a strategy to sustain high and more resource-efficient economic growth, along with energy security in terms of availability, accessibility and affordability. "We will bring out a policy document on appropriate energy transition pathways that balances the imperatives of employment, growth and environmental sustainability," she said. Noting that minerals such as lithium, copper, cobalt and rare earth elements are critical for sectors like nuclear energy, <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword>, space, defence, telecommunications, and high-tech electronics, she proposed to fully exempt customs duties on 25 critical minerals and reduce BCD (basic customs duty) on two of them. This will provide a major fillip to the processing and refining of such minerals and help secure their availability for these strategic and important sectors, she said. She stated that energy transition is critical in the fight against climate change. To support energy transition, she proposed to expand the list of exempted capital goods for use in the manufacture of solar cells and panels in the country. Further, she stated that in view of sufficient domestic manufacturing capacity of solar glass and tinned copper interconnect, I propose not to extend the exemption of customs duties provided to them. Noting that steel and copper are important raw materials and to reduce their cost of production, she proposed to remove the BCD on ferro nickel and blister copper. "I am also continuing with nil BCD on ferrous scrap and nickel cathode and concessional BCD of 2.5 per cent on copper scrap," she said. About the PM Surya Ghar Muft Bijli Yojana, which was rolled out earlier this year, he informed the House that in line with the announcement in the interim budget, PM Surya Ghar Muft Bijli Yojana has been launched to install rooftop solar plants to enable 1 crore households obtain free electricity up to 300 units every month. The scheme has generated remarkable response with more than 1.28 crore registrations and 14 lakh applications, and we will further encourage it, he stated. She further stated that a policy for promoting pumped storage projects will be brought out for electricity storage and facilitating smooth integration of the growing share of renewable energy with its variable &amp; intermittent nature in the overall energy mix. She stated that nuclear energy is expected to form a very significant part of the energy mix for Viksit Bharat. Towards that pursuit, our government will partner with the private sector for setting up Bharat Small Reactors; research &amp; development of Bharat Small Modular Reactor and research &amp; development of newer technologies for nuclear energy, she informed the House. The R&amp;D funding announced in the interim budget will be made available for this sector, she added. The development of indigenous technology for Advanced Ultra Super Critical (AUSC) <keyword id="20421620" type="General" weightage="20" keywordseo="thermal-power" source="keywords">thermal power</keyword> plants with much higher efficiency has been completed, she informed the House. A joint venture between NTPC and BHEL will set up a full-scale 800 MW commercial plant using AUSC technology and the government will provide the required fiscal support, she added. Moving forward, the development of indigenous capacity for the production of high-grade steel and other advanced metallurgy materials for these plants will result in strong spin-off benefits for the economy, she pointed out. A roadmap for moving the 'hard to abate' industries from 'energy efficiency' targets to 'emission targets' will be formulated, she stated adding that appropriate regulations for the transition of these industries from the current 'Perform, Achieve and Trade' mode to 'Indian Carbon Market' mode will be put in place. She further stated that an investment-grade energy audit of traditional micro and small industries in 60 clusters, including brass and ceramic, will be facilitated. Financial support will be provided for shifting them to cleaner forms of energy and implementation of energy efficiency measures. The scheme will be replicated in another 100 clusters in the next phase, she stated. Gaurav Kedia, Chairman, Indian Biogas Association said that the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> 2024 has unveiled a roadmap towards a sustainable and resilient India, with agriculture and energy security at its core. It is anticipated that these initiatives will catalyze the growth of the biogas industry, leading to increased rural employment, reduced carbon emissions, and improved soil health, he stated. SEE ALSO:<a href="https://www.businessinsider.in/budget/news/budget-2024-25-changes-to-tax-slabs-increased-standard-deduction-and-other-changes-to-direct-taxation/articleshow/111951205.cms" target="_blank"></a> <a href="https://www.businessinsider.in/budget/news/budget-2024-25-changes-to-tax-slabs-increased-standard-deduction-and-other-changes-to-direct-taxation/articleshow/111951205.cms" target="_blank">Budget 2024-25 – Changes to tax slabs, increased standard deduction and other changes to direct taxation</a><a href="https://www.businessinsider.in/business/news/expectations-from-union-budget-2024-25-how-will-this-budget-impact-you/articleshow/111946291.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/expectations-from-union-budget-2024-25-how-will-this-budget-impact-you/articleshow/111946291.cms" target="_blank">Union Budget 2024-25: How will this budget impact you?</a> <a href="https://www.businessinsider.in/budget/news/budget-2024-record-allocation-of-rs-1-48-lakh-crore-for-education-employment-and-skilling/articleshow/111951228.cms">Budget 2024: Record allocation of Rs 1.48 lakh crore for education, employment and skilling!</a>

FM cuts customs duty on minerals critical for energy transition

<div class="KonaFilter image-container float_right click-to-enlarge"><div class="image on-image"><a title_source="Twitter" title_caption="Mozilla VP of content services Darren Herman." class="zoomin" href="http://static4.businessinsider.com/image/52fb9ecdecad043472c7f410-960/mozilla-vp-of-content-services-darren-herman.jpg"></a>TwitterMozilla VP of content services Darren Herman.</div></div>Mozilla's Firefox browser has been a thorn in the side of the digital <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">advertising</keyword> industry ever since it decided <a href="http://www.businessinsider.com/firefox-to-block-third-party-cookies-2013-2">to automatically block all third party cookies</a> a year ago.
Advertisers and data collection firms use those cookies to learn about people's browsing habits so they can target them with ads they'll be likely to click on, and the cookies have for years been the backbone of the digital advertising ecosystem. The Feb. 2013 move made Mozilla public enemy No. 1 among the online advertising community, and Interactive Advertising Bureau general counsel Mike Zaneis called it a "<a href="https://twitter.com/mikezaneis/status/305320662426324992">nuclear first strike against [the] ad industry</a>."
A year later, the landscape has changed dramatically. The third-party cookie is in decline <a href="http://www.businessinsider.com/microsoft-plans-tracking-alternative-to-cookies-2013-10">with major tech companies like Microsoft and Google</a> working to develop their own proprietary tracking technologies. And now, Firefox will be serving its users ads directly from the moment they open the browser.
Mozilla <a href="https://blog.mozilla.org/advancingcontent/2014/02/11/publisher-transformation-with-users-at-the-center/">announced on its Content Services blog</a> that when first-time Firefox users open the program for the first time, they will see links to content where the browser usually displays a user's most visited sites. And some of those pieces of suggested content will be "sponsored content from hand-picked partners to help support Mozilla's pursuit of our mission."
Mozilla said the "Directory Tiles" program is being done to make Firefox more sustainable and improve the first-time user experience.
"We are excited about Directory Tiles because it has inherent value to our users, it aligns with our vision of a better Internet through trust and transparency, and it helps Mozilla become more diversified and sustainable as a project," Mozilla VP of content services Darren Herman wrote on the blog. "While we have not worked out the entire product roadmap, we are beginning to talk to content partners about the opportunity, and plan to start showing Directory Tiles to new Firefox users as soon as we have the user experience right."

Firefox Fought Tooth And Nail Against Ad Tracking, And Now It Will Serve Its Users Ads Directly

New Delhi, Jan 17 () Insurance Regulatory and Development Authority of India (IRDAI) chairman S C Khuntia on Friday cautioned insurers against indulging in predatory pricing, saying it is not a sustainable model while citing examples of airline and telecom sectors. 
Highlighting that the insurance industry is different from other business, he said if an insurer fails, it has bearing on customers as well.
 "I would like to give a word of caution here. Though your (insurance brokers) share is very high in group health insurance, the loss ratio in group health insurance is also very high. Probably, it is not very sustainable at present," he said at an event organised by Insurance Brokers Association of India here. 
"So the insurance companies, intermediaries and policyholders need to unite to create a sustainable atmosphere. In other industries if there is unfair competition, the industry suffers but the clientele don't suffer. While this has happened in airlines and telecom industries but we cannot afford that kind of a situation in the insurance industry because insurance is an industry for protection," he said. 
"So if the industry suffers, then clientele also suffers. And as a regulator we would not like that to happen. One should not overcharge and also not undercharge," he said, adding, there is need to create efficiencies so that to bring down premium and minimise the risk.
 Asked if companies are engaging in predatory pricing to up their volume, the regulator acknowledged it by saying "of course, of course."
 "Regulator will have to ensure that the industry runs sustainably. There will be host of actions not one kind of action (to check predatory pricing) but we will ensure that the health of insurance industry does not deteriorate," he said. 
To a query on LIC stake reduction roadmap for IDBI Bank, Khuntia said IRDAI has reminded LIC and they are yet to come forward with it. 
 He, however, expressed hope that it will be done quickly.
 IRDAI stipulates that insurers are allowed to hold only up to 15 per cent stake in any listed entity. But LIC, with a special dispensation from IRDAI, holds more than the limit in some state-run banks. 
 Besides, the Reserve Bank of India (RBI) permits a ceiling of 15 per cent for promoter stake in a private sector bank.
 In June 2018, IRDAI permitted LIC to acquire up to 51 per cent stake in debt-ridden IDBI Bank. 
 When asked about his view on raising foreign investment in insurance sector from the current 49 per cent, he said IRDAI had sought opinions of stakeholders on raising foreign holding to 74 per cent and comments received have been forwarded to the government. 
"Now according to the Insurance Act, 49 per cent is the maximum limit for foreign direct investment. If it goes to 74 per cent naturally the Act has to be amended," he said. 
 However, he was non-committal on ownership and control. No decision has been taken, he added. DP MR
MR

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