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ONWARDS TO DOUBLE DIGIT GROWTH

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In the 20th century, the defeat of the Axis powers during the 1939-45 war ushered in a world order that had the US at the top, but contested in its leadership by the USSR. Each sought to expand its own geopolitical footprint, not to mention attempt to mainstream its own model for economic development and relations between the state and civil society. Essentially, the US and those parts of Europe that had escaped Soviet control formed a coalition of interests that proved more resilient than the bloc formed by the USSR and its East European satellites. Both Germany and Japan recovered rapidly from the devastation caused by the war, and emerged as economic powerhouses that sheltered under the security umbrella provided by the US. It is a statistical fact that countries that were close to the US did much better economically than those that were in the Soviet bloc or were what was termed non-aligned.

In India, the rate of growth was so anaemic that its roughly 2% annual increase was termed the “Hindu rate of growth” by economist Raj Krishna. Later, of course, initiated by the changes in foreign and economic policy under Prime Minister Pamulaparthy Venkta Narasimha Rao, that rate increased substantially, and the enhancement has been maintained since then. During the first term (2014-19) of Prime Minister Narendra Modi, necessary changes were made in India’s foreign policy, and during his second term, a fresh wave of economic and administrative reforms are being implemented that are the most consequential since the Narasimha Rao reforms of 1992-96. Digital literacy has grown by the hundreds of millions, while several formerly irksome administrative processes have been done away with by resorting to online methods that involve zero physical contact between the citizen and the administration. Monies paid as subsidies to alleviate living conditions of the poor, or to promote agricultural output, now go directly to the bank accounts of the beneficiaries, cutting out middlemen who often took away as much as half or even more of the amount of subsidy. Fraud is being checked through use of digital technology, and overall, the propensity to conceal income and avoid taxation has been reducing steadily, a move that has been overdue since the 1960s and which is expected to propel India into the ranks of the top three economies by 2029. At the same time, there is an ongoing contest to determine whether the Indo-Pacific, or initially the South China Sea, will be a closed space controlled by a single power or remain part of the global commons. In the words of Prime Minister Modi, whether it would remain “free, open and inclusive” or not.

In this effort, India is not non-aligned but stands firmly behind the countries working to ensure that the South China Sea in particular remain part of the global commons rather than be subjected to the domination of a single power, the People’s Republic of China. More and more, business and especially technological streams are separating into two formations. The first is led by the PRC and a few other countries such as Pakistan, and the other by the US, India and other democracies besides a few countries which may not be democracies but which resist hegemony. Given India’s commitment to reform under the direction of Prime Minister Narendra Modi and his motto of “Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas”, and the plenitude of human talent that the country has, it is a given that investment will flow into India from countries eager to base their production facilities in the world’s most populous democracy.

In addition, the acceleration of the removal of colonial-era laws and regulations is ensuring that young entrepreneurs in particular are more and more finding India the appropriate location to actualise their push towards making the new Microsoft or the new Google. Somewhere in India, the challenger to Elon Musk has been born, and will similarly flourish. These are exciting times to witness for those looking at, or involved in, the economic future of India, and it is into this new dawn that the Business Guardian is entering. Steered by Editor Joyeeta Basu and Consulting Editor Sanjeev Kumar Nayak, the newspaper is set forth as a chronicler of the events and milestones of the present, and a view into the future of business. It must not only ride the waves of innovation and enterprise, but assist in ensuring them, for only double-digit growth will ensure adequate living standards for the population of India, the next superpower now that the PRC has joined the US in that exclusive club. 

 

Professor Madhav Das Nalapat 

Editorial Director

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Business News

India International Brand Summit 2024 Brings Together Leading Brands, Agencies and Marketing Experts

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The 4th edition of the India International Brand Summit, hosted at ITC Maurya in New Delhi, brought together Advertising & Media industry for a series of stimulating discussions on contemporary marketing challenges and emerging trends. This annual event has established itself as a cornerstone of thought leadership in the media and advertising sectors, offering a valuable platform for insightful dialogues, networking opportunities, and celebrating marketing excellence. Organized by Talentrack, India’s premier talent-casting & content marketplace, and presented by magnon designory, part of the Fortune 200 Omnicom Group and one of India’s largest advertising agency groups, the 2024 edition further cemented its reputation as a hub of industry innovation and expertise.

Renowned branding and marketing stalwarts from leading companies and agencies such as Philips, Schneider Electric, Luminous, Adobe, Konnect Insights, Adfactors PR, HP, Nestle, among others, graced the event, making it a distinguished assembly of industry luminaries.

With the objective of adapting marketing narratives to shifting dynamics and capturing fleeting consumer attention, the summit commenced with the first panel discussion on “Agencies vs AI: Dawn of the Machines.” The panel was moderated by Kanika Mittal (Country Manager, Taboola India) and featured distinguished speakers including Rajat Abbi (Vice President – Global Marketing India, Chief Marketing Officer – Greater India, Schneider Electric), Fela Chawngthu (Sr. Director, Strategy Operations & GTM Shared Services, Adobe), and Sameer Narkar (Founder & CEO, Konnect Insights).

The second panel delved into the topic of “The Influencers’ Conquest: Passing Fad or Core Marketing Competence” with Gaurav Barjatya (Head of Marketing, NDTV), Mili Kapoor (Marketing Head, Philips India – Personal Health), and Nikita Nanda (Vice President, Adfactors PR). The panel was moderated by Akansha Srivastava (Co-Founder – BuzzInContent.com, Editor – BestMediaInfo.com).

The event’s expanded format this year also featured keynote sessions by Kunal Raheja from Adobe and Sameer Narkar from Konnect Insights, followed by some light-hearted stand-up acts.

Addressing the audience, Vineet Bajpai, the Founder & CEO of Magnon Group, said, “Standing here, it feels like déjà vu, as we find ourselves reflecting on the remarkable journey of the India International Brand Summit. Just like the last year, IIBS, this year as well, is blessed with the presence of the great intellectuals in marketing and branding, creating a powerful convergence of ideas and innovation. Our agencies, magnon designory and magnon eg+, part of eg+ worldwide, under the aegis of Fortune 200 Omnicom Group, get the opportunity to meet and interact with our clients in an environment of co-learning and mutual growth. IIBS also offers us the chance to meet new prospects and diversify our network.”

Debuting the IIBS Awards this year, a few exceptional contributors to the industry were felicitated on the stage. Vidyut Kaul (VP and Head of Growth Region at Philips) was honoured as Brand Leader of the Year – Asia. Rajat Abbi (VP of Global Marketing and CMO Greater India at Schneider Electric) received the Marketer of the Year – B2B accolade. Fela Chawngthun (Sr. Director of Strategy, Operations & GTM Services at Adobe) was recognized as Marketer of the Year – Software Solutions. Chandan Mukherjee (Chief Marketing Officer at Nestlé) was awarded Marketer of the Year – FMCG. Sajjan Kumar (Managing Director at Nikon) earned the title of Business Leader of the Year – Imaging, and Neelima Burra (Chief Marketing Officer at Luminous) was honoured with the Marketer of the Year – Clean Technology award. Sameer Narkar (Founder & CEO, Konnect Insights) was recognized as CX Technology Leader of the Year and Arvind Saxena (Head – Marketing Centre of Excellence (MCoE) – Global Smart Cities and Chief Marketing Officer, NEC) as Marketer of the Year – Technology Services. Kanwaljeet Jawa (Chairman & Managing Director, Daikin India) was given the title of Business Leader of the Year – Consumer Durables.

This year’s event was supported by an impressive roster of partners, including magnon designory, afaqs!, Konnect Insights, BestMediaInfo.com, TreeShade Books, India News Business, Candid Marketing, iAvatarZ, Talentown, The Business Guardian, and Neo Group.
To learn more, visit www.iibrandsummit.com.

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Business

India International Brand Summit 2024: Celebrating Excellence and Innovation in Marketing

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Fourth edition of India International Brand Summit, the confluence of the best marketing minds in India to be held today at ITC Maurya, New Delhi.

Over the years, this annual event has become a beacon of thought leadership for the media & advertising industry, providing a platform for insightful discussions, networking, and recognition of marketing excellence. The Business Guardian is proud to be the print partner in the event.

This year’s summit will witness many of the brightest minds including CEOs, CMOs, Creative & Advertising Heads and MarTech Leaders and Brand Evangelists engage in thought-provoking conversations on themes designed to address current marketing realities and future trends. The extended format of the event now also includes keynote sessions, apart from panel discussions, and some interesting live performances as well!

The event is organized by Talentrack, India’s leading Talent-Casting & Content Marketplace. Magnon Group (part of the Fortune 200 Omnicom Group) is the Presenting Partner for the 2024 edition.

Announcing the summit, Vineet Bajpai, Founder & CEO, Magnon Group, said, “The paths we traverse as marketers and advertisers are in constant flux. The India International Brand Summit 2024, which Magnon Group has been proud to partner with for all four editions, is essential in this ever-evolving landscape. As we tackle the rapid shifts in digital strategies, analytics, content creation, social commerce, and AI, the market often seems to outpace even the most agile agencies. This summit excels in delivering unparalleled insights and fostering high-level discussions, making it crucial for staying ahead. It broadens our perspectives and provides transformative conversations that drive industry innovation. I eagerly anticipate the groundbreaking ideas and dynamic exchanges that will emerge this year. Together, we will continue to navigate the changing tides and shape the future of our industry.”

Manishi Singh, Co-founder, Talentrack, further added, “Organizing this premier event is a privilege for Talentrack, as we bring together marketing and creative stalwarts to redefine the future of marketing. Agency executives shaping brand narratives, and marketers leveraging the digital landscape gain fresh perspectives and strategies. It is also a platform to discover new avenues for creativity. Even the investors clout that’s always on the lookout for new venture ideas. Our goal is to drive forward the conversations on marketing innovation and create a dynamic environment for collaboration.”

The conference will be followed by recognition of the achievements of the best in the industry with an awards ceremony that honours excellence in various categories, recognizing those who have made significant contributions to the field of marketing.

The Business Guardian is proud to be the print partner in the event this year. Other brands joining to build the legendary event includes Magnon Designory, afaqs!, Konnect Insights, Best Media Info, TreeShade Books, India News Business, Candid Marketing, iAvatarZ, Talentown and Neo Group.

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Threads surpasses 150M monthly active users, reveals mark Zuckerberg

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Chief Executive Officer Mark Zuckerberg has announced that Threads, Meta’s text-based conversation app, boasts over 150 million monthly active users, positioning it as a competitor to Elon Musk’s X (formerly known as Twitter). The monthly active user count for Threads surged from around 100 million users in October last year to 130 million in February.

At an earnings meeting for Meta, Zuckerberg said: “[Threads] continues to be on the trajectory that I hope to see.” He said in July that he expected Threads to become the next billion-user social network in Meta’s apps suite which also includes Facebook, Instagram, WhatsApp, and Messenger. Since Threads’ launch last year, Meta has been working on creating a range of new features like a fully functional web application, keyword search, trending topics, edit button, voice posts, and the ability to support multiple accounts.

Additionally, the company has been boosting Threads’ posts on its video and photo-sharing platform, Instagram, in order to expand its social network .In March this year, Meta took a significant stride towards fulfilling its commitment to enhance interoperability for Threads. It started allowing users in countries such as the United States, Canada, and Japan to share their posts to the ‘fediverse’. The fediverse comprises decentralised social networks, such as Mastodon, that can interact with one another using the ActivityPub protocol.

The feature will be available to all users with public profiles above the age of 18 in these countries. Meta is testing a Threads API, aiming to empower creators, developers, and brands to construct their own distinctive integrations, efficiently manage their Threads presence, and distribute content to their communities. Meta’s API empowers developers to authenticate, publish posts, and retrieve their own content. Additionally, the company has recently introduced reply management capabilities, enabling users to access responses to their posts, configure reply settings, and conceal or reveal specific replies.

In a blog posted earlier this month, the company said, “Insights are one of our top requested features for the API, so we are making it possible for people to fetch key metrics for their posts, including the number of likes or views. We are also working on webhooks, which will allow developers to receive real-time notifications when certain events occur on the platform, such as a reply to a given post.” Meta said it is currently working with companies such as Grabyo, Hootsuite, Social News Desk, Sprinklr, Sprout Social, and Techmeme, with plans to make the API available by the end of June this year.

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Business News

PAUL JOHN NIRVANA BAGS GOLD MEDAL IN PRESTIGIOUS LONDON SPIRITS COMPETITION

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John Distilleries Ltd.’s Paul John single malt whiskey ‘Nirvana’ has been awarded “Gold” medal in the prestigious London Spirits Competition 2024. JDL’s two other offerings – Roulette London Dry Gin and Paul John XO Brandy – have also won ‘Silver’ medals. JDL is the only Indian company to have been awarded in three different categories – whiskey, gin and brandy. “We are honored to have been awarded at the London Spirits Competition. It is indeed a privilege to be appreciated for the quality of our products,” said JDL Chairman and Managing Director Mr. Paul P John.

JDL is one of the most awarded Indian companies internationally as it has bagged various prestigious awards in the events like the International Wine and Spirit Competition, the World Whiskey Awards and the San Francisco World Spirits Competition. The London Spirits Competition, organized by the Beverage Trade Network, aims to recognize and promote spirits brands that resonate with consumers and offer value for both trade buyers and end consumers.

Judging criteria include quality, value for money, and packaging appeal.

Paul John Nirvana

From the Goan shores of India, Paul John Nirvana is an unpeated expression bottled at an ABV of 40% and is created from Indian 6-row barley and matured in charred American oak casks.

Every expression of Paul John Whisky including Nirvana do not have any added flavours or colours. ‘Nirvana is an expression for those willing and keen to experience single malts, especially for the first time. Its exotic richness is sure to captivate whisky connoisseurs and amateurs equally.’ – Paul P John, Chairman. Soft aromas of caramel, bourbon and fruitcake, flavours of succulent vanilla and sweet honeycomb enhance the sublime and honeyed finish.

Nirvana ensures a captivating experience beyond the worldly realm. Created for those who seek greater heights and who enjoy creating their own path Nirvana was aptly named because it is an expression for those who discover happiness in their purpose of being. Paul John XO 100% Indian Grape Brandy Following the success of Paul John Whisky, Paul P John, Chairman of John Distilleries, ventured into the premium brandy segment with the release of

Paul John XO, a 100% Indian Grape Brandy

Paul John XO is made from the famed Ugni Blanc and the rich Bangalore purple grape. The brandy is matured in specially selected, medium toasted new French limousine oak barrels.

With gentle honeyed aromas, orange zest and a touch of herbs that enhance the tender raisin and sweet oak flavours, the exotic Paul John XO is matured and distilled in Goa. Paul John XO is bottled at 46% ABV and was released in October 2019 across select countries including USA, Europe, UK, South Africa, Japan, Taiwan and India & many more.

Roulette Dry Gin

Roulette is a first choice for those who have a fresh take on life. People who love to experiment and are unafraid to try new things. Discover the perfect balance of versatility and flavour. With its juniper forward profile, it’s ideal for sipping or mixing. Whether you’re enjoying it neat or with a mixer, its refreshing and easy-going character shines through.

Roulette’s effervescent charm and juniper-rich taste elevates any occasion, be it before or after sunset. Roulette London Dry Gin uses all three types of distillation methods for extracting the botanical’s flavours. Our Gin production is further elevated by the exceptional Muller Pot Still, a masterpiece handcrafted and custom-made in Germany.

This 500 liter copper pot still is a small batch wonder and one of world’s finest. What sets it apart is its patented AROMAT technology that elevates our handcrafted liquid to extraordinary heights.

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Nepalese Tycoon Binod Chaudhary who sold ‘WaiWai’ plans to list India unit by 2026

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The firm, boasting a 28% share in the local instant noodles market and generating an annual revenue of 8 billion rupees ($96.2 million), is in preliminary talks regarding its listing plans. The aims is to achieve a 15% revenue growth this year.”

Nepalese billionaire Binod Chaudhary, who made his fortune selling instant noodles, is seeking to list his conglomerate Chaudhary Group’s India food unit by 2026. The Gurgaon-based firm, known for its Wai Wai brand of noodles that rivals market leader Maggi from Nestle Ltd. and ITC Ltd.’s Yippee, “would be ready to go for a sizable listing” in the next two years after rolling out new products and acquiring smaller firms in the noodle-related industry, Manvendra Shukla, global chief executive officer at CG Foods India Pvt., said in an interview. He didn’t share any other details. The listing plans for the firm, which has a 28 per cent share in the local instant noodles market and an annual revenue of Rs 8 billion ($96.2 million), are still in the early stages of discussion, he added. It aims to grow its revenue by 15 per cent this year.

CG Foods India’s initial public offering plans follow a rush among foodmakers, including packaged food products maker Gopal Snacks Ltd. and animal protein maker Mukka Proteins Ltd., that have gone public in the past year. The sector has seen the second-highest number of IPOs in India in the past 12 months, data compiled by Bloomberg News show. The mini-IPO boom is being fueled by investors attracted to India’s relative political stability and its status as the fastest-growing major economy amid the slowing pace of expansion in China.

The noodle maker, however, is not rushing to list and plans to bolster its market share and product portfolio first. The company is also looking to buy smaller companies that make seasonings, dips or ketchups, Shukla said.

‘Not Replicated’ Chaudhary Group launched the Wai Wai noodle four decades ago in Nepal’s capital Kathmandu, and has since grown to become India’s third-largest brand. Wai Wai is known for its preseasoned noodle — it comes with a layer of spice in addition to the seasoning pouches in the packet — which means it can also be munched on as a snack without cooking it. “We have something which is not replicated yet in the market,” Shukla said. CG Foods India currently has seven plants across the country, with Nepal and India contributing over 80 per cent to the group’s food sales. The firm expects to add production lines as volumes continue to grow in India where sales of snacks and soft drinks almost tripled over the past decade in India, exceeding 30 billion dollars. It launched two flavors last month, including a spicier variant called Dynamite, inspired by the Korean cuisine. More products are in the pipeline, including healthier noodle options, according to Shukla.

“It is a flavor battle,” he said.

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Summer Sizzles, Sales Rise, Indian Consumer Firms Gear Up

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Blue Star intensifies its product offerings with a plethora of new home air conditioner models, targeting a remarkable 25% revenue boost in the air conditioning segment, led by Managing Director B. Thiagarajan.

As temperatures soar across India, consumer goods companies are gearing up for what promises to be an exceptionally hot summer. With forecasts predicting an increase in heatwave days, reaching temperatures of at least 40 degrees Celsius in the plains, from April through June, businesses are seizing the opportunity to meet the rising demand for cooling solutions.

Blue Star, a leading appliances maker, has launched a myriad of new home air conditioner models to cater to the anticipated surge in demand. Managing Director B. Thiagarajan aims for a substantial 25% revenue growth from the air conditioning segment, a significant jump from last year’s 5%.

Similarly, renowned ice cream brand Baskin Robbins is rolling out 20 new products in India ahead of the scorching summer months.

Analysts foresee a substantial impact on consumer discretionary spending, particularly on products like air conditioners, fans, refrigerators, and cooling appliances. This surge in demand is expected to reflect robust growth numbers for the first quarter of the fiscal year for companies operating in this sector.

Traditionally, less than 10% of Indian households own air conditioners, but the combination of the hotter summer forecast and new product launches is expected to drive up this figure. Many first-time buyers are entering the market, driven by the desire for temperature-controlled comfort, particularly in light of the extreme temperatures experienced in various parts of the country.

Advertising expenditure is also on the rise, with companies like Blue Star and Baskin Robbins significantly increasing their budgets to capitalize on the heightened demand. Television and online advertising are key avenues for reaching consumers during this period.

Beyond manufacturers, delivery and service providers are also experiencing a surge in demand. Grocery delivery apps like Zepto, Swiggy, and Zomato’s Blinkit are witnessing increased orders for hydrating fruits, beverages, and ice creams as consumers seek relief from the heat.

With the summer months typically leading to increased beer consumption, breweries are gearing up for heightened production and distribution challenges. Carlsberg India’s Managing Director Nilesh Patel highlights the need for careful planning to meet the rising demand.

While the harsh weather may drive up vegetable prices and potentially curtail outdoor spending, analysts anticipate that consumers will continue to indulge in small luxuries like cold beverages and ice cream to find relief from the heat.

Overall, Indian consumer goods companies are bracing themselves for a lucrative summer season, with both manufacturers and service providers working tirelessly to meet the heightened demand for cooling products and refreshments.

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