Emirates Airlines has reaffirmed its commitment to boosting tourism in key destinations by forging strategic partnerships with tourism authorities in Seychelles, Sri Lanka, and Hong Kong.

In a move aimed at bolstering tourism to Seychelles, Emirates has renewed its cooperation with Tourism Seychelles. The airline’s Senior Vice President of Commercial for West Asia & Indian Ocean, Ahmed Khoory, signed a Memorandum of Understanding (MoU) with Sherin Francis, Principal Secretary of the Tourism Department in Seychelles. This agreement underscores Emirates’ dedication to supporting the tourism industry in Seychelles, a popular leisure destination in its network since 2005. As part of the partnership, Emirates will assist travel agents and tour operators in promoting Seychelles through special holiday packages, marketing support, and familiarization trips.

Similarly, Emirates has reiterated its commitment to promoting tourism in Sri Lanka by signing another MoU with the Sri Lanka Tourism Promotion Bureau. Ahmed Khoory signed the agreement with Chalaka Gajabahu, Chairman of the Sri Lanka Tourism Promotion Bureau, in the presence of Sri Lanka’s Minister of Sports and Youth Affairs, Honourable Harin Fernando. Emirates, which has been operating in Sri Lanka for 38 years, will continue to support the country’s tourism agenda by developing special packages and engaging with travel agents to showcase Sri Lanka’s attractions to its global customer base.

In addition to its endeavors in Seychelles and Sri Lanka, Emirates has entered into a new partnership with the Hong Kong Tourism Board (HKTB) to boost inbound tourism from the Middle East and Europe. Orhan Abbas, Emirates’ Senior Vice President of Commercial Operations Far East, and Becky IP, Deputy Executive Director of the HKTB, signed the MoU. Through joint initiatives such as familiarization trips and promotional campaigns, Emirates and HKTB aim to attract visitors to Hong Kong, renowned for its cosmopolitan attractions and dynamic cultural scene.

These strategic partnerships underscore Emirates’ commitment to supporting tourism and trade sectors across its network. By collaborating with tourism authorities in key destinations, Emirates seeks to stimulate tourism inflows, promote economic growth, and enhance the travel experience for its passengers.

Emirates Airlines’ strategic partnerships with tourism authorities in Seychelles, Sri Lanka, and Hong Kong mark significant milestones in the airline’s commitment to promoting tourism and fostering economic growth in key destinations across its network.

The renewed cooperation with Tourism Seychelles reflects Emirates’ long-standing presence and dedication to supporting tourism development in the picturesque island nation. With Seychelles being a popular leisure destination among travelers from around the world, Emirates’ commitment to promoting the country underscores its role as a key partner in driving tourism flows to the island. Through the signing of the MoU and the implementation of various promotional initiatives, Emirates aims to strengthen its collaboration with Seychelles’ tourism industry stakeholders, including travel agents and tour operators, to enhance the visibility and appeal of the destination to global travelers.

Similarly, Emirates’ continued commitment to Sri Lanka, exemplified by the signing of the MoU with the Sri Lanka Tourism Promotion Bureau, reinforces the airline’s enduring partnership with the South Asian country. Having operated in Sri Lanka for nearly four decades, Emirates has played a pivotal role in connecting the island nation with the rest of the world and facilitating tourism and trade exchanges. By developing special packages and engaging with travel agents, Emirates seeks to leverage its extensive global network to promote Sri Lanka’s diverse attractions, including its rich cultural heritage, pristine beaches, and lush landscapes, to a broader audience of travelers.

In the case of Hong Kong, Emirates’ new partnership with the Hong Kong Tourism Board (HKTB) underscores the airline’s commitment to supporting the city’s recovery and revitalization efforts in the wake of the COVID-19 pandemic. With Hong Kong being a vibrant cosmopolitan hub renowned for its dynamic cultural scene, culinary delights, and iconic landmarks, Emirates aims to introduce travelers from key markets in the Middle East and Europe to the city’s unique offerings. Through joint initiatives such as familiarization trips and targeted advertising campaigns, Emirates and HKTB seek to enhance Hong Kong’s appeal as a premier tourist destination and drive tourism growth in the region.

Emirates’ strategic partnerships with tourism authorities underscore the airline’s role as a key enabler of tourism and economic development in the destinations it serves. By leveraging its global network, brand recognition, and operational expertise, Emirates aims to support the recovery and growth of tourism sectors worldwide, contributing to job creation, income generation, and sustainable development.

As the aviation industry continues to navigate the challenges posed by the pandemic, Emirates remains committed to fostering partnerships and collaborations that promote resilience, innovation, and inclusivity in the tourism sector.

Overall, Emirates Airlines’ reaffirmed commitment to boosting tourism in Seychelles, Sri Lanka, and Hong Kong reflects its unwavering dedication to supporting the recovery and revitalization of tourism sectors worldwide. Through strategic partnerships with tourism authorities and industry stakeholders, Emirates aims to stimulate tourism inflows, enhance destination visibility, and create memorable travel experiences for its passengers. As the world gradually emerges from the pandemic, Emirates remains steadfast in its mission to connect people, cultures, and economies, driving tourism growth and fostering prosperity in the destinations it serves. Emirates Airlines’ reaffirmed commitment to boosting tourism in Seychelles, Sri Lanka, and Hong Kong reflects its unwavering dedication to supporting the recovery and revitalization of tourism sectors worldwide. Through strategic partnerships with tourism authorities and industry stakeholders, Emirates aims to stimulate tourism inflows, enhance destination visibility, and create memorable travel experiences for its passengers. As the world gradually emerges from the pandemic, Emirates remains steadfast in its mission to connect people, cultures, and economies, driving tourism growth, fostering prosperity, and promoting global connectivity in the destinations it serves.

Truecaller, the leading platform for verifying contacts and blocking unwanted communication, trusted by millions worldwide, has launched its updated subscription plans for the Verified Business Caller ID solution. Starting May 6, 2024, the revised subscription packages and pricing will apply to all new and current business customers upon their upcoming renewals or upgrades.

Truecaller’s Verified Business Caller ID Solution offers updated subscription packages, growth, and enterprise plans tailored to empower early/mid-stage companies as well as large enterprises. The Growth Plan is best suited for early or midsize companies looking to scale their business and establish a strong market presence, building trust and enhancing brand visibility through its flagship Verified Business Caller ID.

The Enterprise Plan is designed for large, established businesses that require scalable solutions to support their extensive user bases across various products, services, departments, or regions. These organizations need robust and adaptable systems to manage their operations effectively. The enterprise plan supports these businesses with advanced capabilities and deeper product integration with their communication infrastructure.

With more comprehensive analytics and advanced reporting capabilities, the updated subscription plans are designed to provide deeper insights and CX productivity, enabling businesses to refine their communication strategies effectively. Deeper integration capabilities, including call personalization APIs, are available to support large businesses with increasingly complex integration and customization needs.

The Truecaller Verified Business Caller ID solution empowers business calls with brand identity and context, fostering reliable customer communication. Over 2500+ active businesses across India and other vital global markets have benefited from the solution and other advanced communication capabilities. Besides improving business call efficiency, the solution has significantly reduced phone call-related frauds and scams, promoting heightened customer safety in business communications.

“We enable safe and relevant conversations between people and make it efficient for businesses to connect with consumers. Fraud and unwanted communication are endemic to digital economies, especially in emerging markets. We are on a mission to build trust in communication.”

Truecaller is an essential part of everyday communication for over 383 million active users, with more than a billion downloads since launch and close to 50 billion unwanted calls identified and blocked in 2023. Headquartered in Stockholm since 2009, we are a co-founder-led, entrepreneurial company with a highly experienced management team. Truecaller has been listed on Nasdaq Stockholm since October 2021.

The rollout of the 9,00,000th vehicle from the Lucknow facility is an important milestone as the facility has been pivotal in the manufacturing of advanced electric buses and has successfully delivered over 1200 units, which have cumulatively clocked lakhs of kilometers across the country.

Tata Motors, India’s largest commercial vehicle manufacturer, recently celebrated a significant achievement with the rollout of its 900,000th vehicle from the state-of-the-art Lucknow facility. Spanning 600 acres, this facility underscores Tata Motors’ dedication to sustainable manufacturing practices and has been acknowledged by the industry as a water-positive plant.

The Lucknow facility boasts a 6MW solar power plant, which has substantially reduced its carbon footprint. It features cutting-edge vehicle manufacturing stations, including a robotic paint booth and a body-in-white shop equipped with robotic spot welding technology, among other advanced capabilities.

Established in 1992, this facility has been instrumental in producing cargo and passenger commercial vehicles, ranging from light to heavy categories, alongside electric and fuel cell electric buses. Durga Shanker Mishra, Chief Secretary of Uttar Pradesh, lauded Tata Motors during the rollout ceremony for its role in advancing safer, greener mobility solutions and promoting women’s empowerment, with over 22% of new hires this year being women—a significant achievement for gender diversity in the manufacturing sector.

The rollout of the 900,000th vehicle is particularly noteworthy because the Lucknow facility has been pivotal in manufacturing advanced electric buses. To date, it has delivered over 1200 units, which have collectively traveled extensive distances across the country. Vishal Badshah, Vice President and Head of Operations for Tata Motors Commercial Vehicles, highlighted the importance of Uttar Pradesh as a key market and credited the state government’s infrastructure development initiatives for bolstering commercial vehicle sales. He emphasized the facility’s commitment to industry 4.0 integration, enabling the delivery of safe, smart, and sustainable mobility solutions to customers.

Tata Motors is also setting a benchmark in gender inclusivity and women’s empowerment at the Lucknow facility, with women constituting one-third of the technical workforce. They actively participate in all operational shifts, showcasing a diverse range of skills across the production of trucks and buses, demonstrating Tata Motors’ commitment to fostering a diverse and inclusive workplace.

The introduction of higher import duties and the Quality Control Order (QCO) has significantly impacted the toy trade in India with imports falling drastically from USD 304.1 million in FY2019 to USD 64.9 million in FY2024. Decisive steps—which include raising import duties—to curb the inflow of substandard toy imports by the Indian Government since 2020, especially from China, while simultaneously strengthening the domestic toy industry, as per a latest insight from Global Trade Research Initiative (GTRI).

The steepest decline occurred between FY2020 and FY2022, demonstrating the direct impact of the new regulations. Imports dropped from USD 279.3 million in FY2020 to USD 35.9 million by FY2022, then slightly rose to USD 62.4 million in FY2023 and USD 64.9 million in FY2024. This sharp decrease over the last four years is directly due to (QCO) measures, as per GTRI data. There was an increase in imports from other regions such as ASEAN countries, Sri Lanka, and the Czech Republic.

One of the foremost impacts was that the share of imports from China dropped from 87 per cent of India’s total toy imports in FY2019 to 64 per cent in FY2024. The Indian toy industry has an estimated value of USD 3 billion in contrast, to USD100 billion of China. In FY2019, share of China was 87 per cent in India’s global imports of USD 304.1 million. In FY2024, share of China was 64 per cent in India’s global imports of USD 64.9 million. Share of other suppliers was ASEAN with 16.7 per cent, Sri Lanka with 12.4 per cent and Czech Republic contributing 4.7 per cent.

Government data quotes an IIM Lucknow case study to highlight that Indian toy industry witnessed remarkable growth in FY 2022-23 in comparison to FY 2014-15, with the decline in imports by 52 per cent rise in exports by 239 per cent and development of overall quality of the toys available in the domestic market. The study at the behest of Department for Promotion of Industry and Internal Trade (DPIIT) shows that the efforts of the Government have enabled in creation of a more conducive manufacturing ecosystem for the industry in a span of 6 years, from 2014 to 2020, which has seen doubling of the number of manufacturing units, reduction in dependence on imported inputs from 33 per cent to 12 per cent, increase in gross sales value by a CAGR of 10 per cent, and overall rise in labour productivity.

According to GTRI, Government measures which have focused on increasing import duties and introducing the QCO. India dramatically raised import duties on toys beginning in February 2020. The basic customs duty was increased from 20 per cent to 60 per cent and then to 70 per cent in July 2021, where it currently remains. This substantial increase in duties made imported toys significantly more expensive, thus creating a competitive advantage for locally produced toys. The second intervention in the form of QCO, implemented from January 2021, mandates that all toys sold in India, whether domestically produced or imported, must comply with specific Indian standards for safety.

However, according Ajay Srivastava, founder GTRI, exports did not benefit from the QCO. While the domestic measures were primarily aimed at boosting local industry and ensuring safety, they did not significantly enhance India’s toy exports. From FY2020 to FY2022, exports increased modestly from USD 129.6 million to USD177 million. However, by FY2024, exports had decreased to USD 152.3 million. India exported electronic toys worth USD 25.7 million and imported such toys worth USD 0.06 million, exported plastic dolls, metal and other non-electronic toys amounting to USD 78.74 million, while imports were at USD 18.74 million. Parts of electronic toys saw exports of USD 0.15 million and imports of USD 20.99 million. Parts of other toys category had exports worth USD 47.75 million and imports of USD 25.13 million.

The report suggests more comprehensive approach for development of toy industry with focus on developing a robust domestic ecosystem by investing in research and development to foster innovation in toy design and functionality and positioning Indian toys competitively on the global stage. The GTRI suggests strengthening partnerships between toy manufacturers and design institutes to continuously introduce innovative products and establishing specialised toy manufacturing hubs to reduce costs and increase efficiency. Modernising traditional Indian toys while preserving their cultural value to create unique products and support to small and medium enterprises in leveraging digital marketing and promoting Indian toys at international fairs to establish global connections are the other recommendations.

• In 2022, the global market imported toys valued at approximately US$60.3 billion.
• Dominating this market, China exported toys worth US$48.3 billion, securing an 80 per cent share of the global exports.
• Other significant contributors to the global toy export market include the Czech Republic with exports of US$3.2 billion, the European Union with US$2.7 billion, Vietnam with US$1.7 billion, and Hong Kong with US$1.1 billion.
• India’s share in the global toy export market is minimal, totalling USD167 million, which represents only 0.3 per cent of the global exports, ranking it 27th. On the import side, India ranks even lower, at 61st, with toy imports amounting to USD 60 million.
• The largest importers of toys are led by the USA, which alone imported toys worth USD 22.2 billion.
• The European Union followed with imports totalling USD 9 billion and other significant importers include Japan at USD 2.8 billion, Canada at US$1.6 billion, Australia at US$1.5 billion, Mexico at US$1.1 billion, and South Korea at US$927 million.
• This distribution highlights the vast potential and opportunities in the global toy trade, areas where India could aim to increase its presence.

That apart, says Srivastava, there is need to encourage global toy brands to manufacture in India and invite international toy manufacturers who currently operate in China, such as Hasbro, Mattel, Lego, Spin Master and MGA Entertainment to consider setting up facilities in India. This move could help shift part of the global toy production market to India. There are also lessons from China like analysing and adopting best practices from Chinese manufacturers who manage a vast range of toy types and scale production efficiently. India could study the capacity to produce both low-cost and high-quality toys, handle a wide range of toy types, from simple plush toys to complex electronic gadgets and easily scale production up or down to meet the demands of international brands.

The GTRI founder also emphasises on reducing dependency on imports by developing local production capabilities for critical toy-making materials and components, such as glass eyes for dolls, beads, imitation stones, various types of plastics, electric motors and remote control apparatus will decrease costs and enhance the self-sufficiency of the Indian toy industry. Imports of inputs used for making toys is much higher than import of finished toys. For example, India imported glass eyes for dolls or other toys, beads and imitation stones of value USD 137.2 million in FY2024. These steps aim to not only strengthen India’s position in the global toy market but also ensure a sustainable and innovative domestic industry that can meet both local and international demands.

Apple Inc. is reportedly in the process of developing its own chip designed to power artificial intelligence (AI) tools in data centers, as reported by the Wall Street Journal. While it remains uncertain whether the semiconductor will ultimately be deployed, this initiative marks Apple’s latest endeavor to expand its chip-making capabilities beyond its existing products such as iPhones and Macs.

According to sources familiar with the matter cited by the Journal, Apple’s server project, internally referred to as ACDC, aims to leverage in-house chip technology to enhance the performance of AI applications in data centers. This move underscores Apple’s strategic focus on bolstering its AI capabilities, particularly in light of its efforts to catch up with its tech counterparts in generative AI technology, which powers chatbots and other innovative tools.

While Apple has not officially commented on the reported development, the news has already had an impact on its stock performance. Apple shares rose by as much as 1.2% in late trading following the Wall Street Journal’s report. The company’s stock had previously experienced a 5.6% decline earlier in the year, indicating investor optimism surrounding this potential advancement in Apple’s chip technology.

Apple’s foray into server processors for AI applications aligns with broader industry trends, as several major tech companies have already developed their own semiconductors to power data centers. Amazon.com Inc.’s AWS, Google, Microsoft Corp., and Meta Platforms Inc. (formerly Facebook) are among the notable players that utilize in-house designed chips in their data center operations. These efforts have contributed to challenging the traditional dominance of Intel Corp.’s components in the data center market.

Moreover, Apple’s pursuit of AI technology extends beyond hardware development. The company is reportedly preparing to unveil a new strategy for artificial intelligence at its upcoming Worldwide Developers Conference (WWDC) next month. Bloomberg has reported that Apple’s AI strategy will focus on introducing new proactive features aimed at assisting users in their daily lives. Additionally, Apple has engaged in discussions with potential partners like Alphabet Inc.’s Google and OpenAI to explore opportunities for collaboration in providing generative AI services.

If Apple proceeds with the development and deployment of its own server processor for AI, it would mark a significant step forward in the company’s efforts to diversify its chip-making capabilities and strengthen its position in the AI technology landscape. While the specifics of Apple’s AI strategy and its collaboration efforts with other tech giants remain to be seen, the company’s continued investment in AI research and development underscores its commitment to innovation and technological advancement.

As Apple navigates the evolving landscape of AI technology and data center operations, stakeholders will closely monitor the company’s progress and announcements for further insights into its strategic direction and potential impact on the broader tech industry.

NielsenIQ noted a shift as rural consumption outpaced urban demand in the March quarter, with rural markets experiencing a 7.6% surge compared to urban markets’ 5.7% growth.

In the first quarter of 2024, the Indian packaged consumer goods industry witnessed a notable turnaround, with rural demand surpassing urban markets for the first time in 15 months. This shift marked a significant development for India’s fast-moving consumer goods (FMCG) sector, which had been grappling with sluggish rural demand for over a year. While urban shoppers had previously compensated for this slowdown with increased spending on packaged items, the recent data suggests a reversal of this trend.

According to consumer intelligence firm NielsenIQ, the FMCG industry reported a robust 6.6% growth in value terms during the March quarter, driven by a 6.5% increase in volumes. Roosevelt D’souza, the Head of Customer Success India at NielsenIQ, attributed this growth to evolving consumption trends, with rural areas leading the charge for the first time in five quarters. Notably, home and personal care (HPC) categories outperformed food categories, with larger pack sizes driving growth in the former segment.

NielsenIQ’s analysis highlighted a gradual uptick in rural consumption, which surpassed urban consumption in the March quarter. While urban markets reported a 5.7% year-on-year rise in demand, the growth rate was slower compared to the December quarter’s 6.9% increase. In contrast, rural demand surged by 7.6%, indicating a positive momentum in rural consumption patterns.

The quarterly earnings reports of large FMCG firms corroborated this trend, with many companies noting a sequential uptick in rural demand. Aasif Malbari, CFO of Godrej Consumer Products, emphasized the expectation of significant rural growth, given the current penetration levels. Similarly, Mohit Malhotra, CEO of Dabur India, highlighted the outpacing of rural growth compared to urban demand. Dabur reported a substantial 400 basis points growth differential between rural and urban markets in the March quarter.

Within the retail sector, modern trade exhibited strong double-digit volume growth at 14.7% for the March quarter, while traditional trade maintained stable growth with volumes growing at 5.6%. This suggests that traditional retail channels are holding their ground despite the rise of modern retail formats.

Both food and non-food sectors contributed to the overall consumption growth in India during the March quarter. However, non-food categories experienced nearly double the growth rate compared to food categories. While the food sector reported a volume growth of 4.8%, down from 5.3% in the previous quarter, the non-food category saw consumption growth reaching 11.1%.

This improvement in non-food categories can be attributed to the rural uptick, with a growth rate of 12.8% in the first quarter of 2024 compared to 9.8% in the previous quarter. Personal care and home care categories were particularly strong drivers of this growth.

Interestingly, within urban areas, the non-food sector witnessed increasing consumption, particularly in personal care, which grew at 8.4% in the first quarter of 2024 compared to 5.8% in the previous quarter. NielsenIQ also noted that while large players within the FMCG industry continued to demonstrate stronger performance, smaller manufacturers experienced higher volume growth rates in non-food categories over the last two quarters.

Overall, the data from NielsenIQ paints a picture of dynamic shifts in consumption patterns within India’s FMCG industry. Rural areas, traditionally considered slower in consumption growth, are now driving the industry’s expansion, indicating a potentially significant shift in market dynamics. This underscores the need for FMCG companies to adapt their strategies to capitalize on emerging opportunities in rural markets while continuing to navigate the complexities of urban consumption patterns and retail channels.