The Confederation of Indian Industry (CII) and the Business Council of Australia (BCA) have joined forces to launch the India-Australia Women’s Leadership Forum, aiming to bolster gender diversity and empowerment in the corporate sphere. The memorandum of understanding (MOU) signed between CII and BCA underscores their commitment to fostering women leadership in the industry and strengthening bilateral ties between India and Australia. The official announcement of the India-Australia Women’s Leadership Forum was made during a launch event held in New Delhi, India.

The forum will be co-chaired by Viji Murugesan, Head of Scaleup Business Transformation at Tata Consultancy Services, and Ravneet Pawha, Asia CEO of Deakin University. As partners in the India-Australia CEO Forum, CII and BCA aim to elevate the participation of women leaders in the partnership, facilitating connections, sharing insights, and providing a platform for further engagement between companies and leaders from both nations. Parimita Tripathi, Joint Secretary – Oceania, Ministry of External Affairs, Government of India, highlighted the strategic importance of the forum in strengthening economic and social relations between India and Australia. Tripathi emphasized the role of the forum in deepening people-to-people ties and enhancing the economic and social relationship between the two countries.

Chandrajit Banerjee, Director General of the Confederation of Indian Industry, stressed the significance of supporting women leaders in the India-Australia relationship. He emphasized CII’s commitment to promoting gender equity and equality through initiatives like the India-Australia Women’s Leadership Forum, aimed at harnessing the strength of women in bilateral relations. Bran Black, Chief Executive of the Business Council, underscored the importance of gender equality within the Australia-India CEO Forum and the recommendations it provides to both governments. He expressed BCA’s commitment to supporting the establishment of the Australia-India Women’s Leadership Forum, stating that encouraging women into leadership positions is crucial for enhancing the productivity of both economies.

The establishment of the India-Australia Women’s Leadership Forum comes at a time when the India-Australia Economic Cooperation and Trade Agreement (ECTA) has provided momentum to the economic partnership between the two countries. Indian and Australian companies are leveraging this trade agreement to trade at reduced tariff rates, emphasizing the need to prioritize gender equality to enhance economic productivity. Recognizing the critical role of women in this economic partnership, CII has undertaken an active agenda to promote India-Australia economic ties.

The establishment of the India-Australia Women’s Leadership Forum aims to create an ecosystem that promotes the economic contribution of women to the India-Australia corridor. The forum’s objective is to bring together women leaders from both countries to strengthen connections, share insights, and provide mentorship to future women leaders. Through workshops, mentorship programs, promotion of best practices, and participation in policy-making exercises, the forum members will strategize to promote women’s leadership across the corridor.

Hyundai Motor India registered total sales of 63701 units in April 2024, a 9.5 per cent growth year-on-year with domestic sales at 50201 units, driven by SUVs which contributed 67 per cent of HMI domestic sales. Exports at 13,500 units grew 58.8 per cent yoy. Tarun Garg, COO, Hyundai Motor India points out that April 2024 marked fourth consecutive month of 50,000 plus units in domestic sales during calendar year 2024 driven by models like the CRETA, VENUE and EXTER. Honda Cars India (HCIL), registered total sales of 10,867 units in April 2024 as compared to 7,676 units in the same month last year. The company registered 4,351 units in domestic sales and 6,516 units in exports in the month of April’24.

Kunal Behl, Vice President, Marketing & Sales points out that the planned production volumes in April were lower due to switchover of Elevate and City production to six-airbag standard variants. “The dispatches were aligned accordingly. On the other hand, export of Elevate continues to significantly boost HCIL export volume which grew by 175 per cent over same period last year,” says Behl. The company had registered 5,313 units in domestic sales and exported 2,363 units in April’ 23. Maruti Suzuki India sold 1,68,089 units in April 2024, including domestic sales of 140,448 passenger vehicles and light commercial vehicles, sales to other OEM of 5,481 units and exports of 22,160 units.

The total sales in April 2024 was an increase of 4.7 per cent compared with the year-ago period. The company’s exports grew 30.6 per cent. as against 1,39,519 units in the corresponding period a year ago. The car maker sold 1,39,519 units domestically in the corresponding period a year ago, showing 0.7 per cent growth in April 2024. The company also announced the commencement of pre-bookings for the highly anticipated 4th generation Epic New Swift for INR 11,000. Partho Banerjee, Senior Executive Officer, Marketing & Sales points out that the Swift has been an iconic brand for Maruti Suzuki, with 29 lakh strong customer base. “The Epic New Swift stays true to its much-loved sporty DNA, while balancing new-age expectations of environment friendliness with low emissions.

The next-generation Swift is all set to create new benchmarks in the premium hatchback segment,” says Banerjee. Tata Motors Limited sales in the domestic and international market for April 2024 stood at 77,521 vehicles, compared to 69,599 units during April 2023, rising 11.5 per cent year-on-year as compared with 69,599 units in April 2023. The company’s total domestic dispatches rose 12 per cent to 76,399 units last month as against 68,514 units in April 2023. Domestic sale of MH&ICV in April 2024, including trucks and buses, stood at 12,722 units, compared to 8,985 units in April 2023 while total sales for MH&ICV domestic and international business in April 2024, including trucks and buses, stood at 13,218 units compared to 9,515 units in April 2023.

Toyota Kirloskar Motor (TKM) sold 20,494 units in the month of April 2024, representing a yoy growth of 32 per cent, as compared to April 2023, where the company sold 15,510 units. The growth momentum was sustained despite a weeklong maintenance shutdown from April 06-14, 2024, for upkeep of machinery and equipment to sustain operational efficiencies, productivity and safety. In the current month, domestic sales accounted for 18,700 units while exports totalled to 1,794 units during the same month. Chennai based TVS Motor Company registered a growth of 25 per cent with sales increasing from 306,224 units in April 2023 to 383,615 units in April 2024.

Total two-wheelers registered a growth of 27 per cent with sales increasing from 294,786 units in the month of April 2023 to 374,592 units in April 2024. Domestic two-wheeler registered growth of 29 per cent with sales increasing from 232,956 units in April 2023 to 301,449 units in April 2024. Motorcycle registered a growth of 24 per cent with sales increasing from 152,365 units in April 2023 to 188,110 units in April 2024. Scooter registered a growth of 34 per cent with sales increasing from 107,496 units in April 2023 to 144,126 units in April 2024.

The company recorded electric vehicles sales of 17,403 units in April 2024, indicating continued robust demand. Electric vehicle sales last year in April 2023 were at 6,227 units. The Company’s total exports registered a growth of 12 per cent with sales increasing from 71,663 units in April 2023 to 80,508 units in April 2024.

Tata Sons is accelerating the amalgamation of Air India and Vistara to operate as a unified airline by yearend. According to sources, both airlines have contacted the Directorate General of Civil Aviation (DGCA) and commenced merging their operational manuals, along with transferring flight crews between the two carriers.

The conglomerate is undertaking the merger to streamline its aviation operations. As part of that, Air India and Vistara will combine to form a comprehensive full-service airline, while AirAsia India and Air India Express are being integrated to establish a single low-cost carrier. The ET quoted a source saying, “The group is eager to complete the merger as soon as possible as it will unlock synergies and give multiple benefits in running more efficient operations. There are no ifs and buts…” The source further stated that the exact schedule for integration depends on how soon the company will get the approvals from regulatory authorities. Air India expects to receive approval for the merger from the National Company Law Tribunal (NCLT) by next week.

The NCLT’s Chandigarh bench has reserved its decision on the matter. In September 2023, the Competition Commission of India (CCI) granted approval for the merger, enabling the Tata Group to establish a single, full-service carrier. An approval from the NCLT will enable both airlines to commence the integration of their networks, human resources, and fleet deployments.

The source said that both Air India and Vistara operate flights to identical destinations around similar times, utilizing separate resources at airports, such as distinct check-in counters. Sources said that the two airlines possess distinct manuals that necessitate merging, and flying staff from Vistara, such as pilots, will require operator conversion courses lasting approximately 40 days.

The report said that the process will be done gradually, as the airlines aim to avoid grounding flights during the transition. Regarding non-flying staff, Vistara CEO Vinod Kannan mentioned that they can expect clarity regarding their roles by May and June.

PharmEasy, an online pharmacy startup, has raised Rs 1,804 crore ($216 million) in a funding round primarily led by Manipal Education and Medical Group (MEMG), chaired by Ranjan Pai, along with participation from other existing investors. A report by Entrackr indicates that the funding round was completed at a valuation haircut of around 90 per cent, valuing the company at $710 million. Previously, the online drug dispenser had been valued at $5.6 billion in 2021.

The participants in PharmEasy’s latest funding round included MEMG’s family office, which contributed Rs 800 crore, while Prosus, Temasek, and 360 One Portfolios contributed Rs 221 crore, Rs 183 crore, and Rs 200 crore, respectively. CDPQ Private Equity, WSSS Investments, Goldman Sachs, and Evolution Debt Capital invested a total of Rs 400 crore. Entrackr also reports that the Mumbai-based firm has been attempting to raise Rs 3,500 crore since August 2023 to repay the debt incurred from Goldman Sachs.

In June 2023, PharmEasy defaulted on its loan terms with Goldman Sachs. Around the same period, the company’s valuation was reduced by nearly 50 per cent by its investor, Janus Henderson. This was followed by a further reduction by Neuberger Berman, who cut PharmEasy’s valuation by 21.4 per cent to $4.4 billion as of February 2023.

Pharm Easy was founded in 2015 by Dharmil Sheth, Dhaval Shah, Harsh Parekh, Siddharth Shah, and Hardik Dedhia. It was among the startups planning an initial public offering (IPO). However, it postponed its IPO plans after filing the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in November 2021. The listing plan was later withdrawn in August 2022.

Mahindra & Mahindra unveils the XUV 3XO, a compact SUV redefining benchmarks with its bold design, premium features, and high-performance engines.

Mahindra & Mahindra, India’s leading SUV manufacturer, on Monday launched the XUV 3XO, with prices starting from Rs 7.49 lakh, setting new benchmarks in the compact SUV segment. Combining standout design, premium interiors, comfortable ride, cutting-edge technology, thrilling performance and unmatched safety, XUV 3XO was conceptualised at the Mahindra India Design Studio (MIDS) in Mumbai, and engineered and developed at the Mahindra Research Valley (MRV) near Chennai.

The XUV 3XO’s bookings will open online and simultaneously at Mahindra dealerships from May 15, 2024. The deliveries of the XUV 3XO will commence starting from 26 May, 2024. The XUV 3XO represents the world-class capabilities of Mahindra’s global design and engineering team. Built at Mahindra’s state-of-the-art facility in Nashik using advanced manufacturing processes, it offers customers a high-quality SUV that is robust and engineered to last. Veejay Nakra, President – Automotive Division calls the launch of the XUV 3XO, starting at an attractive price of Rs 7.49 lakh as redefining what an SUV can be. The XUV 3XO is designed to cater to a broad spectrum of customers – from those upgrading from a hatchback to their first SUV to luxury seekers looking for high-end features at a competitive price, the XUV 3XO offers a unique blend of innovation, safety, comfort, and performance. Each variant is a strategic response to the nuanced needs of different customer segments, effectively making each variant a disruptor in its segment.

The XUV 3XO introduces a bold, athletic silhouette that commands attention. It features a distinctive front fascia with a piano black finish on the grille and LED headlamps, LED DRLs and LED fog lamps. At the rear, the infinity LED tail lamp emphasises the wide and stable stance of the XUV 3XO. The interiors complement its striking exterior with a blend of premiumness and modernity. Its cabin boasts premium Ivory colour interiors with a Soft touch leatherette dashboard that extends to the door trims, and leatherette seat upholstery to elevate the sense of sophistication. Leather accents on the steering wheel, gear knob, and front armrest further enhance the premium feel. The SUV’s bold wheel arches and large tyres underscore its ruggedness, with the largest tyre outside diameter (OD) in its class, contributing to a formidable stance.

The impressive ground clearance, calibrated approach and departure angles, and best-in-class water wading depth amplify the XUV 3XO’s SUVness factor. Complementing these features are the segment leading R17 diamond cut alloy wheels, which further accentuate its authoritative presence. The XUV 3XO is powered by a lineup of world-class Turbo engines designed for exhilarating performance and superior efficiency. Both the mStallion TGDi and the Turbo Diesel engines churn out best-in-class power and torque of 96 kW (130 PS) & 230 Nm and 85.8 kW (117 PS) & 300 Nm respectively.

Additionally, the mStallion TGDi clocks 0-60 km/h in 4.5 s while offering a segment best fuel efficiency of 20.1 km/l* with manual transmission. Built on a durable, well-tested platform, it is engineered to meet the highest global safety standards, including the B-NCAP and meets the benchmarks established by the XUV700.

With superior drivetrain options, robust Level 2 ADAS features, a comprehensive suite of safety equipment, and advanced technological enhancements, the XUV 3XO is crafted to deliver a driving experience that’s exhilarating, secure, and ahead of its class. The XUV 3XO has been designed, developed, and engineered to meet rigorous global standards, ensuring that it delivers exceptional quality and performance to our customers.

Adani Total Gas on Tuesday reported 71 per cent increase in consolidated net profit at Rs 167.96 crore for the fourth quarter of financial year 2023-24 from Rs 97.91 crore a year ago. For the quarter the company achieved 49 per cent increase in EBIDTA at Rs 305 crore and revenue from operations at Rs 1,257 crore. In terms of operations, the overall volume was up by 20 per cent yoy in Q4 FY24 and the CNG network increases to 547 stations inclusive of 108 DODO/ CODO stations, the company said, announcing its performance for the full year (FY24) and quarter ended 31 March 2024.

Operational highlights for FY24 on standalone basis includes increase in CNG stations to 547, addition of 91 new CNG stations, 8.20 lakh total PNG home and 1.16 lakh new households on PNG network. Industrial and commercial connections increased to 8,331 with the company adding 896 new consumers. The company completed 12,023 Inch km of steel pipeline.

The CNG volume increased by 21 per cent yoy on account of network expansion across multiple Gas.With recovery of PNG Industrial volume and addition of new PNG connection in domestic and commercial segments, PNG volume has increased by 5 per cent yoy.

Although the combined CNG and PNG volume was at 865 MMSCM with a yoy increase of 15 per cent, revenue from operations has increased by 3 per cent yoy.