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Business Wire India - Multimedia: Digest for October 07, 2023

Business Wire India - Multimedia

Multimedia By Business Wire India
Business Wire India

Fairtrade India, in partnership with Fairtrade Network of Asia Pacific Producers, successfully concluded the First National Fairtrade Conference in India, showcasing a significant leap in sustainable and ethical commerce in India. The conference highlighted growing awareness and engagement of the Fairtrade Label across sectors. Independent research commissioned by the organisation revealed a significant rise in awareness of the Fairtrade Label in the SEC A consumers in Metros from 10 per cent in 2019 to 25 per cent in 2022 .
 
The conference spanning over two days brought together over 150 delegates from the Fairtrade ecosystem, including businesses, producers, partner organizations, industry experts, educational institutions, and consumers.
 
Mr. Abhishek Jani, CEO of Fairtrade India, said, "In 2022, Fairtrade Labelled product sales in India touched an impressive INR 23.93 Crores in Gross Merchandise Value, signalling a substantial growth in demand for ethically and sustainably sourced products. Sustainable avenues are helping producers and businesses - gain a competitive edge, innovate, and improve the value proposition for consumers while also improving their ESG performance. Businesses across FMCG, Fashion, Cosmetics and HORECA sectors in India are recognising that they can do business more responsibly and provide a better value proposition to their customers. It appears that in line with the Government's Mission LiFE, there is growing traction for Sustainable Consumption and Production in India."
 
"Our growing partnerships with renowned brands like Indian Terrain, Being Human, Myntra-Here and Now, L'Oreal, Kimirica, Tea Culture of the World and Makaibari Tea, exemplify a shared commitment to promoting better livelihoods, sustainable sourcing, and responsible production, highlighting a new era where ethical values are driving industry standards and consumer choices," he said.
 
Mr. Sanjeet Singh Khurana, Executive Director, Fairtrade NAPP (Asia Pacific) said, "We operate in 18 countries with 289 Fairtrade-certified producer organizations across Asia- Pacific, including 112 in India, where we benefit close to 1, 42, 202 farmers and workers. A total of INR 80 crore Fairtrade Premium was generated between 2017-2021, funding Sustainable Development Goals, aligned community projects. Fairtrade India's 2022 successes and this conference which has brought together our diverse stakeholders exhibit a growing dedication to ethical practices in India's markets."
 
In another big announcement, Jindal Global Business School was recognised as the first Fairtrade Business School in India. Several notable Fairtrade business and education sector partners and producers were also honoured during the conference, as a mark of encouragement for diverse institutions to embrace fair trade practices.
 
Aligned with SDG-12 (sustainable consumption and production pattern) and Mission LiFE (India led global movement to promote sustainable lifestyles), the event shed light on adopting sustainable practices in businesses and lifestyle, focusing on their impact on our society and environment.
 
Supported by the SWITCH Asia Programme of the European Union-for promoting SDG12- Fairtrade India's mission revolves around empowering producers and guiding them toward responsible production practices while also ensuring market access which is more remunerative for them. The National Fairtrade Conference serves as a testament to the establishment of a secure ecosystem that integrates economic, environmental, and social pillars, fostering a responsible consumer and business movement in the country.
Business Wire India

Furtados School of Music (FSM), India's leading music school, is beaming with the success of its annual inter-school music fest, Band-It 2023. This musical fiesta has struck a chord with young talents nationwide, drawing in over 1,000 registrations.
 
Band-It 2023, organised by Furtados School of Music has become a special stage for students to shine on with their musical talent. This year's competition has brought together a rich mix of talents, showing off the colourful musical diversity found in our schools.
 
The Musical Journey Begins
 
Currently, Furtados School of Music is in full swing with the regional finals, where regional contests are happening all over India. These contests allow the participants to shine and take home the prestigious Band-It 2023 trophy.
 
The big finale of Band-It 2023 is set for October 14, 2023, where the top 10 bands from across India will go head-to-head to win the title of "Best Band." The Grand Finale will be a night of musical brilliance, where young talents will join forces to create an unforgettable musical experience.
 
Inspiring the Future of Music
 
FSM's CEO, Tanuja Gomes, and Dharini Upadhyaya shared their excitement for the event, saying, "Band-It is a vibrant celebration of the incredible talent across India. It warms our hearts to see their passion and dedication. At FSM, our entire team is dedicated to working relentlessly, hand in hand, to deliver a dynamic music extravaganza that showcases India's musical richness and nurtures the budding talents of our future musicians."
 
"Band-It 2023 stands as a testament to our commitment to uniting students from across the nation," says Anthony Gomes, Director of the Furtados Music Pvt Ltd. "This competition empowers them to showcase their extraordinary talents, fosters excellence and a sense of unity and pride as they come together to celebrate the richness of Indian music," he added.
 
Mr. Kota Obayashi, Sr. General Manager, from Casio Music & Education Business, the presenting partner of Band-It 2023, added, "We're thrilled to be part of Band-It 2023. Music is a language everyone understands, and these young talents are here to show how music connects and inspires. This is aligned with our mission to foster a rich culture of music that India has nurtured from its very origins. We can't wait for the grand finale!"
 
Year after year, Band-It grows bigger, inspiring young musicians to take the centre stage and perform. FSM remains committed to making great music and being a stepping stone for these talented young artists.
 
For any media questions or more details about Band-It 2023 or to save, please get in touch with: 9619069587
Business Wire India

 
  • VC funding surged from 2019 to 2021, hitting an all-time high at 22.5 Bn USD, then sharply fell to USD 3.8Bn in H1 CY23.
  • Despite this slowdown in VC funding, D2C and eCommerce GMV in India continue to grow by 41% YoY.
  • Alternate financiers stepped up to fill the gap, deployed over INR 500 Cr in the last six months, with Velocity alone contributing INR 220 Cr.

The eCommerce industry is on the cusp of a record-breaking year, poised for a strong festive season. According to Velocity's proprietary data aggregated across 3500+ businesses, ecommerce has grown by 41% in the July to September 2023 quarter compared to the same quarter in 2022 and 25% quarter on quarter. Refer to Figure 1.

This rapid growth in D2C and ecommerce is set against a backdrop of declining Venture Capital (VC) funding. Encouraged by the online surge caused during Covid-19, VC funding increased in the years 2019 all the way to 2021, and reached an all-time high at H2 CY2021. Since then, it has seen a sharp decline of more than 80% that has brought it to a mere USD 3.8Bn in H1 of 2023. Refer to Figure 2. 

While funding through venture capital has its advantages, it is also time-consuming and demanding due to their the long decision-making process. For the D2C and ecommerce sector that undergoes significant seasonal changes, VC financing may not be ideal due to its limited availability and equity-diluting model. Additionally, securing funding often involves restrictive terms and covenants, adding complexity to the process. All these factors, along with a slowdown in VC investments, are driving more entrepreneurs towards alternative financing models which are known to be relatively more transparent, fast and flexible.

As traditional funding sources recede, alternate financing models, especially revenue-based financing, have emerged to fill the void with prominent players including Velocity, Klub, Recur, GetVantage, and others. In the last six months, these alternate financiers have collectively deployed over INR 500 Crore to support ecommerce brands in preparation for the upcoming festive season. Refer to Figure 3. 

Market estimates indicate that this influx of capital is set to fuel a surge in eCommerce growth. Notably, Velocity has played a significant role in this financial backing, contributing a substantial INR 220 Crore over the last six months, with the remaining capital sourced from other key players in the alternate financing sector. As D2C brands and ecommerce companies look for investments to procure higher inventory levels and marketing spends for the forthcoming festive sales, flexibility and agility of alternative financing has enabled them to thrive and seize these opportunities.

A deeper analysis of alternate financing shows that over a 1000 brands have been funded in just the last six months, with Velocity alone accounting for a staggering 600 of them. Velocity's funding expertise extends across a diverse spectrum of sectors, including apparel and footwear, beauty and personal care, healthcare and supplements, home and garden, consumer electronics, and food and beverages. Velocity has deployed a total of over INR 600 Cr across 1800+ investments since its inception, showcasing their commitment to fueling growth for the underserved e-commerce segment.

Abhiroop Medhekar, the Co-Founder & CEO of Velocity, said, "Velocity has witnessed a remarkable 3X year-on-year growth in our deal flow. The demand for financing from ecommerce brands is through the roof, and we are dedicated to meeting this demand head-on. We believe in empowering businesses with flexible, founder-friendly financing solutions that fuel their growth."

Mamta Roy, Founder of Odette quoted, "As a founder, retaining ownership and control was very important to me. As VC Funding involves equity dilution, we wanted to steer away from it until it was absolutely required for our growth. Revenue-based financing is a good option for founders who want to avoid giving up control and also grow without any external pressure."

As eCommerce continues its meteoric rise, these alternate financiers are at the forefront of this financial transformation, playing a critical role in nurturing the industry's growth. With their substantial investment capacity and commitment to clients, these financiers are well-positioned to propel eCommerce success into the future.
Business Wire India

Vedanta Aluminium, the largest aluminium producer in India, has unveiled a new range of advanced wire rods, namely T4, AL59, and the 8xxx series, establishing a new paradigm of excellence in product offerings for the global power and transmission sector. The company launched the new products on the inaugural day of the ongoing Cable & Wire Fair 2023 (CWF2023) in New Delhi. Built to deliver exceptional performance, the new range is manufactured using state-of-the-art continuous casting technology. These products will also find key applications in automotive, building, infrastructure and electronics.

The T4 alloy rod offers customers the advantages of low-sag high strength, high drawability and enhanced durability. These properties make it perfect for usage within high-voltage transmission grids and also in manufacturing optical fibre composite overhead wires. In addition, the AL59 alloy rod offers a higher strength-to-weight ratio, superior power evacuation and a significantly higher current carrying capacity. These properties make it a must-have in the production of long-lasting cables and conductors. Further, the 8xxx series of wire rods offers exceptional anti-corrosion properties, making it of immense value to the construction, transportation and architectural sectors, which need a perfect balance of malleability and durability.

Additionally, Vedanta Aluminium also provides a diverse range of high-quality Electrical Conductor (EC)-grade wire rods in various sizes, including 7.6mm, 9.5mm, 12mm, and 15mm, as well as alloy wire rods and flip coils. They are produced using some of the world's best technologies, sourced from industry-leaders such as Continuus-Properzi (Italy) and Southwire (USA). The company has one of the largest selections of top-quality aluminium products globally, including Restora (India's first low-carbon, 'green' aluminium), billets, primary foundry alloy (PFA), slabs, ingots, rolled products, flip coils, and hot/liquid metal.

Commenting on the launch, Mr. John Slaven, CEO, Vedanta Aluminium said, "As a critical raw material for the electricals industry, aluminium plays a crucial role in enabling global access to reliable and clean energy, accelerating the transition to a sustainable future. At Vedanta Aluminium, we consistently elevate our offerings aligned with the evolving needs of the industry. Strengthening our ties further as reliable partners for the power and transmission industry, we are delighted to now offer the T4, AL59 and 8xxx series of Alloy Rods. Together, these products exemplify our dedication to collaborating with our customers to deliver customized, high-quality solutions for every need."

Vedanta Aluminium's diverse product portfolio is Bureau of Indian Standards (BIS)-certified, a testament to its high quality. The company's products have also been verified as environmentally sustainable by the globally recognized Environmental Product Declaration (EPD), after undergoing a rigorous Life Cycle Assessment (LCA), performing well on several parameters such as energy consumption, greenhouse gas emissions, water usage, and waste generation. Additionally, the Aluminium Stewardship Initiative (ASI), has also certified the company's plant at Jharsuguda, Odisha for showcasing high sustainability performance, a coveted indicator of sustainability worldwide.

Customer-centricity lies at the core of Vedanta Aluminium's product design and innovation strategy. In addition to product development, the company collaborates closely with its customers, fostering smooth downstream processing and sharing technical expertise with industry leaders. Earlier this year, the company launched the 12mm wire rod which continues to garner an enthusiastic response from customers. With its engineering prowess, deep R&D capabilities, vibrant innovation cell, Centre of Quality Excellence and Customer Technical Service (CTS) function, the company is well-resourced to meet the emerging demands of its global customer base, which spans nearly 50+ countries at present.

Vedanta Aluminium is India's largest producer of aluminium, manufacturing more than half of India's aluminium i.e., 2.29 million tonnes in FY23. It is a leader in value-added aluminium products that find critical applications in core industries. Vedanta Aluminium ranks 2nd in the Dow Jones Sustainability Index (DJSI) 2022 world rankings for aluminium industry, a reflection of its sustainable development practices. With its world-class aluminium smelters, alumina refinery and power plants in India, the company fulfils its mission of spurring emerging applications of aluminium as the 'Metal of the Future' for a greener tomorrow. www.vedantaaluminium.com. 

Sri Chakra Fertility Launches Sri Chakra Wellness

Friday 06 October 2023 11:30 AM UTC+00
Business Wire India

Sri Chakra Fertility launches #holistic fertility treatment on the occasion of their first anniversary, under the banner of Sri Chakra Wellness. The Journey to achieve parenthood is easy for few and extremely difficult for many. Infertility issues are a common yet complex concern. Infertility, in recent years, has been one of the most common issues that young couples have been dealing with. Sedentary lifestyle, stress, irregular sleep patterns, diabetes, obesity, smoking and alcohol are only a few of the reasons for the rise of infertility in India.

Speaking on the occasion, Dr Vasundara Jagannathan Medical Director, Sri Chakra Fertility said, "We provide individualized fertility treatments from basic treatments like Ovulation induction to advanced treatments fertility treatments like IVF/ICSI/Genetics, To provide better success rates, Sri Chakra Fertility will integrate #HOLISTICFERTILITY to our patients. Holistic fertility aims to properly balance the spiritual, emotional, physical and mental aspects of one's life to aid in natural fertility or fertility treatments. The primary methods used to achieve holistic fertility are dietary adjustments, yoga, meditation, acupuncture or acupressure treatment, weight loss and stress management. When a couple comes for fertility treatment, there are so many factors that determine the success rates, issues like work pressure, juggling work-life balance and the lack of emotional support on a day-to-day basis have been shown to impact both men and women. Good health is a state of complete physical, mental, social and spiritual wellbeing.
 
We at Sri Chakra Fertility are launching holistic fertility which will address all aspects of fertility treatment like medical therapy, appropriate individualized diet counselling, acupressure/acupuncture therapy, Yoga to improve physical endurance, psychological counselling to address the mental health so that the couple can embark on the fertility journey without any stress. Advanced fertility treatments like IVF/ICSI are not 100% successful but when we approach them in a holistic way, The chance of live birth definitely improves."
 
Dr Kunal Kumar, Managing Director, Sri Chakra Fertility said that Mr Krishna Murthy Reddy – Head Operations & Marketing, Dr Janani – Dietitian, Mrs Sumitha - Yoga Practioner, Ms Krithiga - Clinical Psychologist and Dr Yoga - Acupressure specialist will be part of the new initiative – Sri Chakra Wellness. And mentioned that Sri Chakra Wellness as part of social responsibility towards the society, Sri Chakra Wellness will also provide customized services to all segments of population apart from infertility, to create healthier generation.
Business Wire India

pTron (NSE: PALREDTECH) - In the spirit of the vibrant Indian festivities and monumental online sales season, pTron is elated to announce groundbreaking offers and deals on its indigenous range of digital lifestyle products, amplifying the joy of the upcoming Great Indian Sale on Amazon and Big Billion Day on Flipkart this October 2023!

Crafting Milestones with Indian Excellence: pTron, with its indigenous manufacturing, is not only accentuating the 'Make in India' initiative but is also echoing the resonant beats of Indian craftsmanship, technological innovation, and superior quality in the global arena.

• By offering the pTron Bassbuds Duo at a groundbreaking price of Rs. 449, originally priced at Rs. 799, we are setting an unparalleled global precedent, underscoring India's ascending stature as a global manufacturing powerhouse.

• Our endeavour symbolizes a festive gift to the nation, allowing millions to experience top-notch technology made in India, while also fostering national pride and unity through our contributions to the Indian economy and technological ecosystem.

Unwrap the Celebration with Unrivalled Offers: Our diverse portfolio, featuring cutting-edge wireless audio equipment, smartwatches, chargers, and more, is available at unbeatable prices, ranging from Rs. 449 to Rs. 1,199, making premium tech accessible to all.

• This festive season, immerse in the enchanting world of sound with pTron's wireless earbuds, neckbands, and headphones, and stay connected and active with our stylish and functional smartwatches, all while supporting indigenous innovation and manufacturing.

Patriotism Interwoven with Innovation: Choosing pTron is choosing India. Every purchase reverberates with the spirit of Indian craftsmanship and contributes to the country's progressive journey, creating a symphony of national pride, unity, and technological advancement.

• Our journey is a testimony to the brilliance and resilience of Indian innovation, showcasing to the world how 'Quality Outshines', while also paving the way for a technologically self-reliant India.

CEO's Vision: Mr. Ameen Khwaja, Founder and CEO of pTron, reflects, "Our offerings are a festive lantern, illuminating lives with joy, quality, and Indian brilliance. We are not just a brand; we are a movement, shaping the future while staying rooted in our rich heritage, creating a harmonious blend of tradition and innovation."

So, this October, celebrate the confluence of technology and tradition with pTron. Explore, shop, and revel in the festive symphony of Indian innovation, making every moment monumental. Let's come together to cheer for a brand that's truly ours, embrace the pTron difference, and echo the proud beats of 'Made in India' to the world!
Business Wire India

A total of 554 students received their degrees at the 4th convocation ceremony of Symbiosis Skills and Professional University, (SSPU) Kiwale, Pune on 3rd October 2023. Shri. Babasaheb Neelkanth Kalyani, Chairman and Managing Director, Bharat Forge Ltd. was the Chief Guest for the ceremony. Dr. Rajeswara Rao, IAS (Retd), Former Secretary of NITI Aayog was the guest of honour. Dr. S. B. Mujumdar, Chancellor, of Symbiosis Skills Universities, presided over the function in the presence of Dr. Swati Mujumdar, Pro-Chancellor, SSPU and Dr. Gauri Shiurkar, Vice Chancellor (I/C), SSPU.

Dr. Swati Mujumdar, Pro-Chancellor, Symbiosis Skills Universities briefed the August gathering about the Symbiosis Skills and Professional University (SSPU)'s unique pedagogy which focuses on 70 percent practicals and 30 percent theory model. She emphasized on the distinctiveness of the university that does not offer conventional courses but degrees that align to the future job roles.

Dr. S. B. Mujumdar, Chancellor, Symbiosis Skills and Professional University told the students that the path to success is by igniting fire in the belly and cultivating a passionate drive in everything that they do. He simply asked the students whether they can train their brains to foster innovation. Innovations that lead to new products, wealth creation, and progress of our nation. Similarly, he suggested that the students should train their hearts to cultivate compassion. He said that the three qualities – innovation, compassion, and passion will help students succeed in life and will foster the true spirit of patriotism.

Shri. Babasaheb Neelkanth Kalyani, Chairman and Managing Director, Bharat Forge Ltd. emphasized on the essential elements of transformation relating it to the ever-evolving need of the world to transform and adapt to new technologies. He related progress, to the evolution of energy for a cleaner environment, adaptation of digitization and integrating artificial intelligence in day-to-day life. He emphasized that India would need around 5000 universities like Symbiosis Skills and Professional University to make the youth future-ready.

Shri. Babasaheb Neelkanth Kalyani interacted with the female students pursuing a diploma in Manufacturing and a Diploma in Industry 4.0 in collaboration with the University's industrial partners. He was happy to learn that the girls came from all corners of Maharashtra to enroll in these diploma courses. He was impressed with Symbiosis Skills and Professional University's focus on training girls from the rural areas and the University's Women Empowerment initiatives.

Dr. Rajeswara Rao, Former Secretary of NITI Aayog, emphasized the importance of continuous learning and skilling in his keynote address, encouraging students to not to be afraid of failure, to be able to take tough decisions and to be bold enough to tread on uncharted territories. He advised students to develop leadership qualities, stay updated with new technologies, ideas, and developments to stay competitive in this fast-paced world.

Awards and Accolades

In order to promote the spirit of entrepreneurship, Symbiosis Skills and Professional University confers the 'Atmanirbhar Award'. The award is bestowed on a student of the University who has started his/her own innovative business from scratch. This year's Atmanirbhar Award was given to Ms. Preety Agarwal of BBA Retail and E-Commerce Management and Mr. Ayush Agarwal of B. Tech. Mechatronics.
 
The University also confers 'Kushal Award' on those students who have acquired skills at the university and successfully launched their careers despite their socio-economic disadvantages. Ms. Nikhatparuin Gulab Shaikh received 'Kushal Award' at the convocation ceremony.
 
Mr. Chauhan Soham Bhavesh of BBA (Logistics) and Ms. Mujumdar Bhakti N. (M.Sc. Nutritional Sciences & Dietetics), received The Chancellor's Gold Medals this year. The Chancellor's Gold Medal is given to the 'Best Outgoing Student'.
 
Learn More About SSPU: https://sspu.ac.in/

Follow SSPU on:
LinkedIn - https://www.linkedin.com/school/symbiosis-skills-and-professional-university/
Instagram - https://www.instagram.com/symbiosisskillsofficial/
Facebook – https://www.facebook.com/SymbiosisSkills
Twitter - https://twitter.com/SymbiosisSkills
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