Growing up is a process. But it isn’t an easy task. It involves quite a challenge. How to navigate the growth challenges? That thought is exercising the minds of the top honchos (read the promoters) of this organisation. This iconic enterprise stood as a shining star in the industrial landscape of Tamil Nadu. Somewhere along, however, it fell into bad times and almost went into oblivion. But the arrival of a new promoter changed the fortunes of this Chennai-based Kothari Industrial Corporation Ltd completely. New promoter J Rafiq Ahmed got KICL relisted, helped the company become debt-free, brought investment from a Qatar firm connected to the ruling family, got the organisation to quickly move into areas such as non-leather footwear, drones, publishing, food, waste management et al. Well-meaning Ahmed is a man in a hurry. The man lays much store by empowering women in rural areas. Alert to time sense, he feels that his organisation has to move into the fast lane not just to catch up what it has lost but also to move ahead of others. A robust system is critical as the organisation glides into higher growth orbit. Not surprisingly, he has drafted the service of a top-notch global consultant to put in place an organisational structure which absorbs and addresses the growth challenges. A robust organisation is essential to its sustainability in the long run. The focus is now on putting the systems in place so that the organisation runs without let or hindrance and sans individual bias.

The Paris-headquartered Calderys, a refractory solutions company with presence in over 30 countries, has chalked out big plans for India. It is committed to invest over $100 million in Odisha to cater to both India and APAC countries. At Bhuinpur, Khorda district, Bhubaneshwar it is setting the world’s largest single site production hub for refractories production and steel casting fluxes. The six-phase project has already seen the completion of the first leg of Refractory manufacturing at Bhuinpur, Khorda district. As per reports, full-fledged production at its Khorda plant will begin in the second half of 2026. Calderys APAC Region, Sr Vice President & MD Ish Mohon Garg says “India’s $ 2 billion refractory market is poised to double by 2030, driven by surge in infrastructure, manufacturing and energy projects”. When asked what made Calderys consider Odisha for investments, Garg praised Odisha’s top end bureaucracy saying “we were hypnotised by Odisha, particularly the speed of action, decision making and clarity of thought without any follow up. Everything was wrapped up in three months, thanks to efficient IAS bureaucrats like Hemant Sharma, Bhupendra Singh Poonia at IPICOL and Collectorate & District Magistrate of Khorda and others”. He assured that Calderys will provide cutting edge refractory solutions to its customers. He said the first production line of acidic monolithics refractories having exceptional chemical resistance and thermal stability has already commenced and sales have started for the domestic market.  Odisha’s economic growth seems unstoppable. After steel, aluminium, mining, semiconductor forays, the state is now focusing on refractories.

After steel, aluminium and mining leadership, Odisha is now focusing big time on niche semiconductor business. It now wants to contribute to the national semiconductor ecosystem. Prime Minister Narendra Modi’s cabinet has approved the U.S. chip major Intel-backed 3D glass semiconductor manufacturing unit in Odisha with an investment of Rs 1,943 cr. The plant will be set up by Hetrogenous Integration Packaging Solutions Pvt Ltd with an annual production of 5 crore units. Apart from this a silicon carbide semiconductor plant will also be set up at Bhubaneswar with an investment of Rs 2,066 cr by SiCem Pvt Ltd in collaboration with Clas-SIC  Wafer Fab, UK to manufacture 9.6 million Silicon carbide chips per year which will be used in missiles, satellites, telecom towers, rockets, railway engines, solar power, fast chargers and others. Immediately, Odisha focus area will be chip assembly and training and workforce development meeting infrastructure needs. Odisha seems confident to take the leap first by chip assembly followed by chip manufacturing, backed by government incentives. Union education minister Dharmendra Pradhan feels Odisha will emerge as a semiconductor hub because of “PM’s purvodaya vision of Look East Policy.” He said chip manufacturing process is part of PM’s election promise to double Odisha’s income. Sources say, though actual investment will take time to materialise, however serious assessment has already begun where Odisha stands particularly with regard to the availability of engineering talents from IITs, National Institute of Science Education & Research which compliments semiconductor start-ups. IT Minister Ashwini Vaishnav feels with these plants Odisha will be able to attract the best of brains to Odisha.

Odisha’s KIIT-KISS University promoter Achyuta Samanta is on an image building exercise. It may be recalled that for last one year Samanta, founder of the Kalinga Institute of Industrial Technology (KIIT) University and ex-Biju Janata Dal MP, has been mired in controversy over alleged suicide of a Nepalese girl student in his campus and forcible eviction of 1,000 Nepali students from KIIT campus. This move caused a diplomatic embarrassment as India and Nepal enjoy a good relationship. Recently, he invited Hon’ble Justice N Santosh Hegde, Former Judge of the Supreme Court and Former Lokayukta of Karnataka, to KIIT & KISS as chief guest to talk on “Fall in social values and its consequences”. While talking on the subject Justice Hegde heaped praises on Samanta’s contribution to KISS/KIIT institutions. He lauded the generous dedication and remarkable contributions of Dr Samanta, towards humanity and the upliftment of society. Justice Hegde said in his lifetime he has visited 1,861 institutions, yet had never seen anything like KIIT. He praised the exceptional educational infrastructure, cleanliness, and discipline maintained across the campuses. He also noted that KISS Deemed to be University—the higher education wing of the Kalinga Institute of Social Sciences—is the only university in the world exclusively for indigenous scholars. Justice Hegde compared Samanta with Atlas – the Greek mythology figure who carries the entire load on him, saying Samanta’s institution is second to none. This open praise from an impeccable Justice Hegde has indeed bolstered the tarnished image of Samanta but it has also set tongues wagging.

They are different. And, the play the long-haul game. They do it without much ado. For all that, they have chosen to remain a family owned. Well, Johnson Lifts Pvt Ltd is today an over Rs3000 crore company, commanding a market share in excess of 20% in the Indian organised elevator space. Moving people up and down safely day in day out is their primary focus. To be sure, that’s a 24X7 exercise for them. Selling — nay installing a lift– is one thing. But servicing them till it’s life time — that could be anywhere between 15 and 20 — years is quite an onerous task. That’s where Johnson Lifts has earned the name and reputation for. Not surprisingly, Johnson Lifts finds itself in places like the New Parliament building and the Ram Mandir Ayodhya. Today, Johnson Lifts in an important constituent of the modern infrastructure growth in India. In the emerging geo political dynamics make in India assumes greater focus. And, Johnson Lifts has already achieved a localisation over 90%. A debt free and a family owned enterprise with well spread production network and robust R&D spend is now pining to become an India multinational enterprise. With a headcount over 9000 people, the Chennai based Johnson Lifts has quietly gone on a mission mode.

For the Odisha government, the top priority is to ensure uninterrupted supply of bauxite, the feedstock for Vedanta’s aluminium refinery plant. It does not want a situation that aluminium giant led by Anil Agarwal closes shop in Odisha for want of raw material. This explains why environmentalist activist Medha Patkar and her team were barred for the second time from entering the six gram panchayat at Odisha’s Rayagada district Sijimalli hills, about 350 km from Bhubaneswar, a few days ago. Also, the organisers of Niyamgiri Suraksha Samiti and Maa Mati Mali Suraksha Manch have also been barred from entering the area during this period. The rumour is, Odisha’s tribal chief minister Mohan Charan Majhi couldn’t care less about tribal agitation. Sources say, it’s a done deal having BJD legacy earlier which had issued a 50-year bauxite mining lease in favour of Vedanta at Sijimalli hills covering an area of 1,549 hectares, BJP is now doing carry forward job. This explains why the Majhi government is now getting ready to hand over Vedanta the Sijimalli hills which have approximately 311 million tonnes of bauxite. The handover would displace about 100 families covering 18 villages spread over two districts Rayagada and Kalahandi. For now, Majhi government’s focus is clear– it wants smooth sailing of mandatory environment and forest clearances through public hearings and not encourage any kind of protest or lobbying which will derail Vedanta’s bauxite mining project in Odisha.  

Call it election fervour or a pilgrim’s progress, PM Narendra Modi has single-handedly opened up the Temple Parikrama to India’s devotion driven pilgrims. It’s a debatable point to talk about our country being more aware of the Himalayan Shrines and Kasi sacred spots, even the Buddhist temple trails. Has the same importance not been given to the Southern edifices of stunning and amazing temple architecture, the sagacity of the Royal lineage of Cholas and other kings who designed and built temples as the focal point of all cultural, artistic and socioeconomic aspects of life? Every visit of the PM has now showcased these divine wonders. The media has carried the visuals not just pan India but globally. This focus has indirectly enhanced tourism. After multiple visits, Modi is expected to visit Tamil Nadu again on August 28-29 to go to Thiruvannamalai and the majestic Arunachaleswarar Temple. This holy site holds great importance for the Ashram of Saint Ramana Maharshi. Modi is expected to host his Mann Ki Baat from the Chidambaram Temple (the astonishing rock sculptures here portray the 108 Karanas of Bharata Natyam. The Navagraha (nine planets) circuit is perhaps the most inspiring and informative …from Suryanar Koil to Saturn’s abode at Thirunallar (the only Navagriha place which is on the outskirts of TN). There are numerous myths and scientific lores…for example, the Sun’s rays resplendently light up the inner sanctum of Suryanar Koil on Makar Sankranti day …like the SUN temple at Konarak. The mythology and significance of the pantheons is not explained to the tourists. The Vatican has developed audio wearables for every sanctum for guiding the tourist. Maybe our PM can intervene and make it a truly spiritual and fulfilling visit to the Navagraha circuit.

Trade unionism seems to have lost focus in India. It has failed to reform itself to keep pace with economic reforms and globalisation, and changing job scenarios. It is also facing the biggest leadership crisis. The poor public and industry response to the nationwide strike call by 10 central trade unions on July 9, 2025 once again exposed the irrelevance of such an action in a country where the informal sector employs nearly 44 crore workers today, representing 85% of the total workforce. The informal sector encompasses a wide range of activities and workers, including those in agriculture, construction, small factories, domestic work, and various other self-employed and micro-enterprise roles. Workers in this sector don’t enjoy job or wage protection. As a result, the old-style trade unionism has become irrelevant in the present-day scenario. The so-called central trade unions exist mostly in the public sector where they play some constructive role in the collective bargaining, especially for periodical wage settlement. The shrinking public sector is a matter of concern to them. However, they could do little when the government decided to hand over the control of IPCL, a highly profit-making public sector enterprise to the Ambani group’s Reliance Industries. Trade unions also made no attempt to prevent total privatisation of BALCO in favour of Anil Agarwal-promoted Sterlite Industries (now Vedanta) . Of course, the prestigious VSNL to the Tata Group. Between 2014 and 2024, the government disinvested from as many as 179 central PSEs without any resistance from the trade unions. This explains why workers do not trust trade unions. Today’s trade unions lack the leadership of those in the 1970s such as Sripad Dange, BT Ranadive, Satish Loomba, George Fernandes, Mahesh Desai. Few will disagree that currently, the trade union movement in India lacks proper leadership and focus, particularly in the face of economic reforms and globalization.

Kolkata-based tech giant RS Software (India) Ltd has taken its first step into developing a global payments integration platform to ease international trade flows, following its pivotal role in building India’s Unified Payments Interface (UPI) in 2015. The company is set to invest over Rs 100 crore over the next five years to further strengthen its payments network across India — an ambitious move aligned with India’s rising influence in the fintech space. With the government entering into several bilateral agreements to enable members of the Indian diaspora to use UPI for payments abroad, RS Software is actively working with the National Payments Corporation of India (NPCI) to integrate these international payment systems. The integration of bilateral payment platforms is currently underway across 10 countries, including the UAE, Singapore, and France. RS Software MD & CEO Raj Jain confirmed the development, noting that UPI’s growing global footprint has opened the door for India to collaborate with other nations on digital payment interoperability. According to Jain, RS Software has been instrumental in executing many of these bilateral integrations alongside NPCI. The company sees immense opportunity in addressing longstanding challenges in cross-border transactions, which in 2024 reached a total value of $162 trillion. These transactions often suffer from high fees, sluggish settlement times, and lack of transparency. Jain feels there is the need to make low-value cross-border payments simpler and more efficient. To closely focus on the next phase of development, the company recently appointed Samik Roy as COO. Roy will be overseeing the integration of international digital payment systems and expanding the company’s global footprint. 

In a landmark deal, Tata Motors announced its intention to buy the commercial vehicle business of Iveco group of Italy. The transaction is valued at approximately $4.4 billion. This supposedly strategic acquisition is ostensibly designed to catapult Tata Motors into the league of truly global commercial vehicle manufacturers, significantly expanding its capabilities, reach and resilience in a dynamic global market. What does this signify? A quick trip down time machine will put things in perspective and help understand the changing times and emerging market dynamics. Once upon a time, Iveco had a very strong partnership with Chennai-headquartered Ashok Leyland Ltd. (ALL), the flagship company of the Hindujas. The Italian group had both technical and financial relationship with Ashok Leyland, an arch rival of Tata Motors in the domestic market. Somewhere along, the alliance between Iveco and Ashok Leyland ended for assorted reasons. The Indian dream of the Italian group could not travel to its logical destination. Ashok Leyland subsequently aligned with the Japanese firm to roll out Hino model engines. Given this backdrop, long-time watchers of the automobile industry in India are expecting the acquisition of the commercial vehicle business of Iveco by Tata Motors to seriously alter the domestic playing ground. How will this play out in the coming days? Well, the fingers are crossed at the moment. 

Guess who played a very active role in the recently signed Free Trade Agreement between India and the UK? Param Shah, Group Head — Strategic Communications & Government Relations Arvind Ltd. Shah who has Ph D in management had joined the Ahmedabad-based company some time ago.  The reason he could significantly contribute to the FTA is because of his earlier role as director at FICCI UK and Europe. Shah, under the guidance and leadership of Baroness Parashar, submitted the memorandum, and it has been meaningfully incorporated into the final India-UK Comprehensive Economic & Trade Agreement (CETA) that marks a historic leap in the bilateral partnership.  It may be mentioned that final CETA eliminates tariffs on 99% of Indian exports, directly supporting value-added manufacturing. Before FICCI UK, he was Head, Gujarat State Council, FICCI from 2009 till 2017, followed by his UK stint. Recognising his immense industry knowledge and networking edge, Arvind’s vice chairman Kulin Lalbhai created this role to woo him back to India from the UK. Shah is expected to look after all seven group companies. Insiders say this is a role that involves both Global and India-related work of the companies. Before Shah entered the scene, Lalbhai used to handle this portfolio. Shah’s will also help the Group’s non-business entities, including Ahmedabad University, CEPT University, Ahmedabad Education Society, and ATIRA’s Government and Corporate Affairs related matters. 

The century old Registered Post service of the Indian Postal service is being discontinued. It is being merged into a smarter and efficient — Speed Post, according to a circular issued by the Department of Posts. For over a century the registered letter was looked upon as a symbol of credibility, assurance and formality. Whether it be a job offer, legal notice, bank notices, government intimation or a personal letter, Registered Post was not just a service but a part of people’s lives. The Department has given operational streamlining, improved tracking facility and customer convenience as the reason for its merger with Speed Post. As per the circular, all functional guidelines mentioning Registered Post must be amended by July 31, 2025. Terms like Registered Post and Registered Post with Acknowledgement Due — once the very heart of postal communication will be replaced by Speed Post. The launch of the combined service starts from September 1, 2025. Although the transformation may appear trivial when compared to the new age private courier apps and instantaneous tracking services, it has a profound cultural and administrative transformation. Although the Department of Posts assures that speed post will now include all aspects of Registered Post, such as tracking and acceptance of receipt, the issue remains whether it will be able to restore the same measure of trust and ceremonial importance. The age of digital information has already eroded the significance of hard copy letters, but Registered Post was able to maintain its position due to its application in official and legal transactions.

USA President Donald Trump has blinked first under the incessant stare of Indian PM Narendra Modi over the bilateral tariffs issue. The Union Commerce minister Piyush Goyal led trade delegation to USA returned back in a huff over American attempts to brow beat India into the formers’ one-sided tariff pact. “Goyal and delegation negotiated hard and long till he got the cue from PM Modi to break off talks and return home. Not even a day after the Indian trade delegation returned to India, Trump’s crestfallen team went into a huddle and has decided to send a team of U.S. delegates to India to retrieve the situation and still thrash out a trade and tariffs pact,” a person familiar with the developments told shortpost.in. They will be on our turf now with Goyal strategically making public our disinclination to accept American dairy and agro products on American terms. Massive de-dollarization is taking place in the world after many nations emulated India to deal only in their respective currencies internationally which has impacted the U.S. badly. Ascending gold prices (10 gm) crossed Rs 1 lakh price barrier with silver set to reach Rs 1.5 lakh per kg and countries are focussed on their precious metals reserves. With the hegemony of the U.S. dollar all but vanquished, India looks forward to a more balanced trade and tariffs deal with the U.S. even as it exports reliable and durable technology to the world. An Indo-French and Indo-German collaboration in technology, Russian tie-up for fifth generation fighter jets and more has ushered India into the Big Four of the world both economically and politically.

A recent issue of The Economist has a solar plexus hitting writeup about advertising and Artificial Intelligence. The whoosh after this sucker punch was the subject of the annual Holy Grail meet at Cannes where adland titans revealed and predicted a doomsday status to creativity. The crystal balls revealed that human intelligence is overwhelmed by AI. But such “bare all” events are significant as Cannes proved. In this cockroaches and computers head on collision who will survive, who will be eliminated? Surprisingly, the legendary cockroach endures to see yet another epoch, because its survival instincts are too strong. TikTok, Meta and Google put on their fiercest Halloween masks to shock and shake the professionals in denial. Sam Altman, the Moses of AI predicted that 95% of marketing as we know may be AI delivered. The 5% is the surviving cockroach that shall still burrow into the $ 1-trillion ad spend annually on “workmanlike campaigns”. AI is definitely going to impact the landscape …some advertisers are shifting their communication onto billboards. Chennai’s iconic Gemini Circle proved this point in more ways than one. A huge billboard shows a very apt, creative copy (though oldies may be shocked) superimposed on the anatomy of unmistakable bums. The copy then fires …“let Elon Musk explore Mars. Our Mission is Uranus”. Discover a whole new world of colorectal care. The name of this clinic is even more creative — Assana Colorectal & Gut Wellness Clinic. A few years back, such an ad may have brought a smirk to the genteels, who do not discuss rectal troubles, pain in the arse including piles in a group. They called it anal fixation and anal retentive to be dealt with behind bathroom doors. AI has not killed the cockroach…yet.

Odisha’s ambitious metro rail project — Bhubaneswar Metro Rail — has failed to take off. The project launched on January 1,2024 with much fanfare by the then BJD chief minister Naveen Patnaik is still at the drawing board stage. The latest news is that the BJP-run Odisha government has officially scrapped the previous tender and contract awarded to Ceigall India and Delhi Metro Rail Corporation for the design and construction of Bhubaneswar Metro project due to protracted delays and coordination setbacks. This move throws the project’s immediate future into uncertainty, even as the Odisha government asserts its commitment to revive the ambitious urban transport initiative with a revised blueprint. Ceigall India has indicated plans to pursue compensation legally for the contract termination. It is learnt that the Odisha government has now questioned the viability of the then BJD government’s fully state-funded project stating that currently no official proposal had been sent to by the state to the Centre. A Detailed Project Report submitted by the BJD government indicated the metro project would be financed internally. Political analysts are asking why Mohan Charan Majhi government did not pursue the financing issue with the Centre since it had one year’s time. State’s housing & urban development minister Krushna Chandra Mahapatra clarified that his government will submit a revised plan to the Centre with a request for central assistance.

The big news is the Odisha government is now going beyond temple tourism, Buddhist circuit visits, wild life, MICE etc. Its big focus now is to showcase the natural beauty of Mahanadi river at its 25 km Hirakud dam, supporting sustainability, environment preservation and meeting tourist expectations. Hirakud Dam built across the Mahanadi River is the longest earthen dam in the world. Behind the dam extends a 55 km long lake, Hirakud Reservoir. It is one of the first major multipurpose river valley projects started after India’s independence. The Debrigarh wildlife sanctuary is located here. Several species of migratory birds visit the reservoir during winter. Nearly 20-25 species of birds are seen in the reservoir. The Odisha government has chalked up plans to transform Hirakud Dam. Soon the tourists will see floating hotels, caravan parks, laser shows, hot air balloon rides, recreation plazas, adventure sports making it an absolute happening place all this while protecting the fragile ecosystem. To fund the project, the state government has opted for the Centre’s interest free loans scheme falling under SASCI (Special Assistance to States for Capital Investment). The Odisha government officials are confident that their Hirakud tourism hub plan will attract private sector investment.  

This is an annual ritual. Such annual events used to trigger quite an excitement. Well, the Madras Chamber of Commerce and Industry (MCCI) held its 189th annual general body meeting on the evening of July 25 in Chennai. Vellayan Subbiah, Executive Chairman of Cholamandalam Investment and Finance Company Ltd., a Murugappa group company, addressed the meeting as the chief guest. His coming was indeed significant. Does it reflect a change ? A trip down memory lane will put things in perspective and help one understand the larger implications of the presence of Vellayan Subbiah at the MCCI annual general body meeting. In mid-90s when the global automobile giants were readying to enter India, especially Chennai, a section of leading industrialists in Chennai wanted L Lakshman of Rane group and MCCI past President to steer industry body ASSOCHAM (Associated Chambers of Commerce and Industry ) as its President. Ostensibly, he was preferred because of his stature in the auto component industry. But two leading groups – the MA Chidambaram and Murugappa – were pitching for their not so popular family member, heading a firm to be the president of ASSOCHAM. The move by the other side to work for the election of Lakshman as the president of ASSOCHAM reportedly upset these two groups. Consequently, 8 companies each belonging to these two groups moved out of MCCI. The Madras Chamber of Commerce, being the oldest chamber in the country ,was one of the promoters of ASSOCHAM. Given this backdrop, Vellayan Subbiah as Chief Guest at the MCCI annual meet has set tongues wagging. Well, the MCCI mandarins have reasons to cheer as it may signal the end of the turf war that MCCI saw three decades ago.

The Kolkata-based Hindustan Motors Ltd plant which once rolled out the iconic Ambassador cars has been leased out by the West Bengal government to Titagarh Rail Systems Ltd to manufacture rail coaches. The 40 acres of its long-defunct land has been leased out for 99 years. The Rs 126-crore deal will see the plant produce Vande Bharat and Metro train coaches. Hindustan Motors, part of CK Birla Group, began operations in 1957, producing both the Landmaster and Ambassador cars. The latter becoming a symbol of Indian roads for decades. The plant, which ceased operations in 2014 after a “suspension of work” notice post-Lok Sabha elections, struggled for survival amid growing competition and dwindling production; from 700-750 cars per month to 250-300.  Even though the then Left Front government supported by making it mandatory, the use of Ambassador cars as taxis it failed to revive the plant. Titagarh Rail Systems, already operating a wagon unit nearby, has bagged major contracts to manufacture Vande Bharat and Metro coaches. And this plant’s strategic location — just 3 km from Delhi Road and close to rail lines — makes it an ideal expansion site. During the company’s 25th anniversary three years ago, chief minister Mamata Banerjee had hinted at land allocation, which has now received official cabinet approval. However, concerns persist over legal and compensation issues for former workers. The Supreme Court recently upheld a Calcutta High Court verdict allowing the state to reclaim 395 acres from Hindustan Motors for public use, including this project. This development brings a ray of hope to Hooghly, a district that has witnessed major industrial exits over the years—from Tata’s Nano in Singur in 2008 to Hind Motors shutdown in 2014 and Dunlop’s closure in Sahaganj.

The big news is Elon Musk’s Tesla, the global electric vehicle (EV) giant, is smelling serious business opportunities in India. Tesla finally made a symbolic official entry into India on July 15 with Maharashtra CM Devendra Fadnavis inaugurating the showroom located in BKC, Mumbai. On display was Tesla’s imported luxury premium Model Y from its China factory. Sources say, this will act as a foundation when Tesla decides to bring in low cost models for the Indian market at a later stage. For now, Tesla has priced its SUV’s around Rs 60 lakh. Other models will be rolled out over the next 12 months. Does this development mean serious competition for players marquee brands like BMW, Mercedes, VinFast and BYD? Sources say, “For Tesla it’s early days. What is known as of now is the economy model will be introduced once they get good hang of the market.” Apart from Mumbai, Tesla’s second showroom will be opened in New Delhi by end-July. The reasons why Tesla is focusing on its EV luxury segment through its Mumbai and Delhi show rooms now is to rev up demand for China made SUVs, assess business opportunity to justify India’s own production base eventually. For now, Tesla’s job is to focus on India’s demand and build brand awareness.

Migration of India’s well-placed millionaires has now become a concern area for India. As per Henley Private Wealth Migration Report 2024, 4,300 millionaires will leave India by the end of 2025 indicating nominal slow down. In 2024, 5,100 Indians moved their houses from India opting to work in Dubai, London, Europe, USA, Singapore and others.  This year, though there is a ‘wee bit ‘ slowdown of high networth individuals’ (HNIs) migration, what comes out loud and clear from the report is that for these HNIs, India is no longer where their heart is. They think that greater opportunity, freedom, and stability lie elsewhere. The HNIs have chosen Singapore, Middle East, Dubai, London, Europe and America and other countries as their destination of work, leisure and stay. The worrisome part is, there is now an increasing trend to renounce Indian citizenship as well. As of 2023, over 216,000 Indians holding Indian passports have already surrendered their citizenship. Sanjaya Baru, ex-Media Advisor to Dr Manmohan Singh, in his latest book Secession Of The Successful explores why India as a country increasingly becoming nationalist but the elite and successful are quite happy to migrate to other countries, a trend which is now increasing. He says Non-Resident Indians (NRIs) have become Non-Returning Indians. According to him, individuals are leaving India because India has not created an environment to retain the talent. The dichotomy is India’s HNIs chant “Bharat Mata ki Jai” while opting to live and work overseas but not returning to India for good. The challenge for any government is to improve the civic and urban life facilities making it worthwhile for people to come back.

Tractors and Farm Equipment Ltd (TAFE) of the Amalgamations group appears to have used `the naked licensing’ argument to press its claim for the iconic Massey Ferguson brand when it was engaged in legal battle with its over 65-year-old partner AGCO Corporation of the U.S. Of course, both have settled their dispute out of court and TAFE has been confirmed the owner of Massey Ferguson in India and two other countries. The term “naked licensing” in the context of trade mark laws refers to the practice of granting a licensee the right to use a trademark without demonstrating any control or supervision of the trade mark. In this instance, though TAFE has been using the Massey Ferguson brand for over six decades, AGCO had taken virtually no interest or contributed to its development in India. Apparently, this has proved a significant legal roadblock for AGCO to claim the ownership of Massey Ferguson brand in India. Also, TAFE has been strategic in its relationship with AGCO Corporation over the years. Its decision to invest in AGCO (it has over 16% shareholding in the U.S. company) has given TAFE the negotiating edge in effectively sealing its ownership for the Massey Ferguson brand in India. From hindsight, it could be argued that TAFE did well in consistently persuading AGCO Corporation to pare its holding in TAFE gradually from 49% a few years ago to less than 21%.  The strategy, assiduously initiated by TAFE over the years, appears to have emerged victorious in the end. If proof is required, the out-of-court settlement is there for all to see.

How credit worthy is the Malayalee! Obviously, with banks depending on credit information bureaus like TransUnion CIBIL, Experian, Equifax, and CRIF High Mark, Keralites are just not satisfied with their own creditworthiness. This has seen many flocking to private lending agencies like Muthoot Finance, Muthoot Fincorp, Manappuram Finance etc. These private agencies offer their services at much higher interest rates but with less intensive scrutiny and speedy disposal of applications. Experts here say that lack of creditworthiness is also used as a ruse by banks to dissuade current account holders from moving over to other banks with better offers. Recently, a case surfaced of an individual who applied for a housing loan. The application was rejected for want of the required credit score. On close scrutiny, it was revealed that the applicant had earlier taken a two-wheeler loan which was finally settled. But before closing the loan, the loanee had defaulted once which was settled, including meeting the penalty. This is a clear case of the credit information bureaus not updating its stats on a real-time basis and thus depriving an applicant of a housing loan. In this case who is at fault? This has been just one of the many cases highlighted by the Kerala media in recent times. Perhaps, it was because of such news reports that the senior-most Deputy Governor of the RBI, M Rajeshwar Rao, was prompted to say at a conference organised by CIBIL that “We must aspire to have more frequent updates. Real-time or near real-time credit reporting will improve underwriting precision, enable timely reflection of borrower actions like loan closures or repayments and deliver a superior experience.” Sure, all this will entail additional costs because of investments in technology but the benefits will far outweigh the cost.

Pieter Elbers, CEO of IndiGo, one of the fastest-growing airlines in the world, has chalked up plans to enter 10 new destinations including four domestic locations in India. UK’s Manchester and Amsterdam are the first two cities identified by IndiGo to start direct flights thus paving the way to enter the European market. Elbers is confident that by 2030 IndiGo global ranking will change, and it will not be labelled as LCC in the European market. He doesn’t see any conflict with its code-sharing partner airlines. Elbers also put to rest the rumours by stating that the direct flight to Manchester will depart/arrive from Chhatrapati Shivaji International Airport, Andheri. Yes, IndiGo has a huge hub at the second airport coming at Panvel, Navi Mumbai. The reason for sticking to the city airport is because the new airport as of now lacks adequate connectivity.  Meanwhile the Indian diaspora is very happy with IndiGo’s direct flights connecting Mumbai and Manchester.  Direct flight is an economic booster as it will save time and money. A study indicates an extra £11.8 mn a year will be spent by additional Indian visitors to the region as a result of the three-times-a-week service between Manchester. Experts say cost, time, and productivity savings worth £9 mn a year will be unlocked. About 234,000 people travel from Manchester airport’s catchment to Mumbai every year. Roughly 70,000 of them flew via Manchester. It is estimated that the new route will increase the overall number of people who travel between Manchester and Mumbai by 21,000 per year.  

Lead realtor executing the Dharavi Redevelopment Project (DRP), the Gautam Adani group will extend its footprint in Mumbai city with several more slum clusters actively taken up for redevelopment. Well-placed sources say projects in line include Goregaon located Motilal Nagar in the western suburbs, to be followed by the Bharat Nagar slum cluster in the BKC business district. Thereafter, the Kurar slums will be taken up followed by the ghettos in Malwani region in the western suburb of the Mumbai metropolis. “The DRP special purpose vehicle (SPV) set up for the Dharavi recast entails a contractual clause allowing lead developer (Adani) first right of refusal for any slum cluster redevelopment in Mumbai, going ahead. Naturally, even CMs of Delhi and Uttar Pradesh evinced interest in replicating the model for slum redevelopment for their respective political domains, the roadmap to make Mumbai slum-free is on accelerated mode with CM Devendra Fadnavis mandating an eight-year timeline for make the city totally free of slums,” according to a source. Notwithstanding the eight-year deadline to transform 45% of Mumbai’s land mass housing 50% of its population in slum clusters may probably need a couple of years of extension for the target human rehabilitation within a decade. Considering the fact that the Slum Redevelopment Authority (SRA) was able to provide only 2.5 lakh free homes to slum dwellers over 28 years, the emphasis on real time redevelopment of all slums in the next decade is certainly an ambitious plan but, not undoable.

The number of IPOs on SME Platforms of Exchanges have been declining for some time now. Investors are not showing much of the interest especially in QIB categories. Ditto: HNIs and Retail category investors. Merchant Bankers even after getting the approval want to be fully sure about the success of the public issue and therefore there is delay in opening the issue. It has been also observed that on the day of listing there is huge selling happening which is creating downward pressure on the price of the stocks. Recently few companies got listed at discount to the IPO price and this is further keeping the investors away from the primary market. According to Ajay Thakur, the brain behind BSE SME Exchange, who has now set up his own outfit TGI SME Capital Advisors, “In the first six months of the current calendar year SME Platforms have observed lacklustre performance as response from all categories of investors were lukewarm. However, from last week of June things have started looking up. Most of the SME companies are getting listed at a premium and naturally there is heavy selling on the day of listing. But, the good development is that one is not seeing the euphoria like we saw in 2024. This indicates that Investors are maturing and the expectations are reasonable. Greed is the biggest killer for everyone whether investors or intermediaries or anyone. Intermediaries also need to do proper due diligence before SME companies can tap the capital market.  

After 65 years, this tractor company will be a fully Indian organization. Chennai-based Tractors and Farm Equipment Ltd. (TAFE) will buy out its partner AGCO Corporation of the U.S. in the company.  The American firm has 20.7% in TAFE. This will be bought for a consideration of $260 million. The two were engaged in a legal fight over Massey Ferguson brand.  The two have now hammered out a comprehensive out-of-court settlement that is sure to bring the curtain down on the spat between the two. Though TAFE holds 16.3% in AGCO, it has decided to stay out of the board and remain a long-term investor. Significantly enough, this comprehensive agreement confirms TAFE as the sole owner of the iconic Massey Ferguson brand in India and two other countries. Two things emerge out of this agreement. For one, it makes TAFE a wholly-owned subsidiary of the Amalgamation group, a 100% Indian firm at that. For another, the decision to stay out of AGCO board gives TAFE the leeway to chart its own business strategy in the international marketplace. Well, the agreement should do a world of good to both TAFE and AGCO.

It’s now an embarrassing moment for the Odisha government’s Principal Finance Secretary, Saswat Mishra IAS who took a hasty decision of dropping three major private sector banks — HDFC, ICICI, Axis — from its panel of banks authorised to handle the state government’s business. And surprisingly, he chose to reverse his decision on June 21 with a clarification that no new account shall be opened henceforth by the respective banks till the banks improve their performance parameters. Many questions have been raised over Mishra’s action. Was it the pressure from Delhi that saw Mishra reversing his decision? What went wrong in the first place for Mishra to de-empanel them? The real story, sources say, is that all these three banks, listed on the stock exchanges, fearing NPAs refused to lend small ticket loans to the weaker section of the society without collaterals, citing the danger of black money routing scam and the inability of the recipients to pay back, particularly PMEGP scheme. This seems to have upset Mishra. Though his official stance is “the action on three banks were taken because of their consistently poor performance in the banks flagship schemes spread over two years”. Clued-in observers say Mishra has opted for carrot and stick policy in dealing with the banks. At the moment the three private sector banks are in a quandary as to how to protect themselves from potential NPAs without collaterals and meeting fiduciary responsibilities amidst RBI’s continued apprehension regarding the danger of unsecured lending.

Researchers TS Karthy and GV Gopi at the WildLife Institute of India (WLII) have slammed the Odisha government for its greed to turn chief minister Mohan Charan Majhi’s home district Anugul into a coal mining hub. They have urged the state government to reconsider their business decision as it will squeeze elephants out of its habitat. They say, ensuring Odisha elephants survival is important to WLII because Odisha holds the highest number of Asian elephants in the east central region of India numbering about 1,976. Anugul, CM’s home district accounts for 20% of India’s coal reserve and Majhi’s interest is to revive the closed coal mines to bring in employment and revenue to his government. This possibility has now set the alarm bells ringing at WLII asking how coal mines and elephants will cohabit together? WLII’s two researchers say “if the Majhi government green lights all the inactive coal mines into operation at Anugul, it would mean destruction of 390 sq km of forest in the protected area which is already hindering the movements of the elephants.

Kolhapuri chappal is a famous hand-crafted pure leather footwear and comes in various forms, named for specific reasons. For instance, Athani make derives its name from that of a village in the vicinity. Kapshi is a distinct design and hue. Visitors to Kolhapur invariably buy a pair after taking darshan of Goddess Ambabai. Kolhapuri chappal is famous abroad as well. Sensing its market potential, Prada has introduced a footwear model for its Milan show. For this Prada had to face a backlash on social media by government officials and artisans in India. They feel that the brand has appropriated a rich Indian tradition but failed to acknowledge the legacy. The unique leather chappals made for the Milan Fashion Week resemble the Kolhapuri chappal. Reacting to this criticism, Prada Group’s Lorenzo Bertelli, Head of Corporate Social Responsibility admitted in a letter Lalit Gandhi, president of the Maharashtra Chamber of Commerce, Industry and Agriculture that “We acknowledge that the sandals featured in the recent Prada Men’s 2026 Fashion Show are inspired by traditional Indian handcrafted footwear, with a centuries-old heritage. We deeply recognize the cultural significance of such Indian craftsmanship.” The controversy became more widespread after BJP MP Dhananjay Mahadik led a Kolhapuri chappal artisan delegation to Maharashtra chief minister Devendra Fadnavis. They have demanded action to protect the footwear’s GI rights and cultural importance. A pair of Kolhapuri chappals cost somewhere around Rs 500 but will be sold by Prada for around Rs 1 lakh. 

Titagarh Rail Systems, one of India’s foremost manufacturers of rail wagons and coaches, is taking a strategic step to bolster its production capabilities through a new joint venture with Ramakrishna Forgings Ltd. The joint venture, named Ramkrishna Titagarh Rail Wheels Ltd, is setting up an advanced manufacturing facility in Gummidipoondi, located near Chennai. This state-of-the-art plant is designed to produce high-performance forged wheelsets, catering to the requirements of metros, freight wagons, and passenger railcars. The facility will have an annual production capacity of 220,000 wheels. As part of the venture, 80,000 of these wheels will be supplied to Indian Railways under a guaranteed offtake agreement, offering long-term business visibility. Each forged wheel is estimated to cost around Rs 1 lakh. The plant is expected to commence full-scale operations by Feb-Mar 2026.This initiative is crucial, especially after Titagarh faced a slowdown in wagon sales last fiscal due to a shortage of wheelsets from the Rail Wheel Factory. By building its own supply capability, the company aims to eliminate such supply chain disruptions in the future. With about 25% market share, Titagarh remains India’s largest freight wagon manufacturer, leveraging a vertically integrated model for operational resilience.

In terms of absolute growth, the country’s mutual fund industry has grown at a scorching pace. Its AUM has grown from Rs 21 lakh crore in 2017 to Rs 72 lakh crore in 2025, monthly SIP from Rs 4,000 crore to Rs 26,600 crore and investor’s count has grown five times — from 1 crore to 5 crore. Yet, the investor’s numbers is poor given the size of the population. This poor investor number indicates low awareness and thereby poor penetration level. Though the industry’s Sahi Hai campaign has transformed the space from a high-net-worth niche to a retail-driven engine, more needs to be done. At the 17th ICC Mutual Fund Summit, regulator SEBI has urged the industry to use digital tools for wider access. To help the MF industry, SEBI has undertaken a comprehensive review of the sector’s regulations to ease business operations and introduce flexible scheme design, and recategorize schemes. SEBI feels that innovation and strong governance must go hand in hand, and any missteps would invite regulatory action. Interestingly, AMFI has positioned financial well-being — not just access—as the next frontier. However, AMFI lamented the fact that even though 33% of household disposable income is saved, 66% goes into gold and real estate and only 34% into financial assets. And mutual funds form a small portion of this, though their share of bank deposit equivalents has risen from 10% to 32%. India’s AUM-to-GDP ratio stands at 20%, compared to 65% globally and over 100% in developed markets. To deepen penetration, AMFI is expanding financial literacy drives in various states. Despite 80% general literacy, financial literacy remains at only 27%. This is the gap AMFI aims to close.

The war of words between the Kerala government and Kitex Garments Ltd (KGL) seems to be never ending. The latest flare-up owes its origin to Andhra Pradesh chief minister Chandrababu Naidu’s decision to send his Textile Minister S Savitha to Kerala to woo Kitex to AP. Savitha, who visited KGL’s headquarters at Kizhakkambalam near Kochi, was impressed with the facilities and made a formal invitation to managing director Sabu Jacob to set up a unit at Amaravati, the capital of AP.  The AP offer to set up a new unit comes at a time when Bangladesh, a major textile manufacturer, is facing a political crisis. KGL is the world’s largest maker of cotton and organic cotton ready-to-wear garments for infants and children between 0 – 24 months. The war of words between the ruling LDF government and KGL, began when Jacob decided to float a political party, Twenty-20 in 2015. The party was successful in bagging the Kizhakkambalam and nearby Panchayats from LDF. Twenty-20 transformed the panchayats into a successful model for any panchayat to emulate – 24-hour water, health facilities including insurance, better schools, roads, including grocery shops offering minimum prices etc.  Jacob who presented a Rs 3,500 cr investment proposal at the Ascend Global investment meet organised by Kerala government withdrew the proposal following harassment by the state government through various raids. It was at this juncture that the then Telangana government of K Chandrasekhar Rao rolled out the red carpet. Sabu set up two yarn-to-garments facilities in Hyderabad and Warangal which is expected to generate employment to 50,000 people when fully operational. In fact, the Telangana government showcased the Kitex project as a major achievement at the World Economic Forum, Davos. KGL, part of the diversified Anna Kitex group, is the largest employment generator in Kerala with 11,000 people on its rolls. 

For now, Odisha has missed the opportunity of scripting new history in steel making. ArcelorMittal Nippon Steel India, a JV between ArcelorMittal and Nippon Steel, established in December 2019 after acquiring Essar Steel ambitious plan of setting up 12-MTPA steel plant in Kendrapara, Odisha may not fructify it seems according to knowledgeable sources. Reason: Land acquisition issue. Since March 2021 the Odisha government has been moving at a snail’s pace over land acquisition compared to Andhra Pradesh CM Chandrababu’s proactive approach. AM/NS India shifted its steel investment to neighbouring Andhra Pradesh as it feels very confident in the leadership of the chief minister Naidu who is part of the NDA dispensation. It is learnt that Naidu’s son and IT Minister Nara Lokesh played a pivotal role to persuade Aditya Mittal, Lakshmi Mittal’s son, to move the steel plant to Andhra — with whom he has been engaged since 2018. His constant follow-up with Aditya by guaranteeing him quick land allotment and special status seems to have tilted in Andhra’s favour. Reportedly, AM/NS was forced to take this decision as nothing moved from 2021 between BJD and the current BJP government. AM/NS India is initially establishing 7.3 MTPA steel plant in Anakapalli district, Andhra Pradesh as part of its plans to set up a state-of-the-art integrated steel plant in Rajayyapeta involving an investment of Rs 147,162 crore (Rs 61,780 crore in phase I and Rs 85,382 crore in phase II). Earlier, Sajjan Jindal group JSW’s electric vehicle also shifted out of Odisha to Maharashtra. It’s about time the Majhi government woke up and smelled the coffee. 

A couple of significant developments have taken place in the Chennai corporate world. One, Lakshmi Venu has been elevated as Vice-Chairman of TAFE (Tractors and Farm Equipment Ltd), one of the largest tractor makers in the world. She had been a Director of TAFE, the flagship company of the Amalgamation group. TAFE has been driven by Mallika Srinivasan, mother of Lakshmi Venu. Two, Sudarshan Venu has been appointed the CMD of TVS Motor Company, one of the largest two-wheeler producers in the country. Venu Srinivasan, father of Sudarshan, continues to be the Chairman Emeritus of TVS Motor. Sudarshan and Lakshmi are children of Venu and Mallika Srinivasan. The elevation of Sudarshan and Lakshmi in TVS Motor and TAFE respectively is significant for the way the young ones in the family are guided up the ladder. More importantly, this sort of set the template for succession planning for many in the family business. The erstwhile TVS conglomerate – which comprised four families — saw formal legal separation a few years ago which allowed each family within the TVS conglomerate to go their separate ways. This, in fact, has seen each one of them chalking out independent business strategies. The family arrangement in the erstwhile TVS group took over two decades to arrive at after two families went to court to settle a dispute over the floatation of a competing venture in early ’90s. If grapevine has to go by, the Murugappa group (which like the TVS family comprises many wings), too, is working hard to arrive at a similar family arrangement. Reading against these backdrops, the elevation of Sudarshan and Lakshmi is remarkable for the calibrated manner in which it was done.

Change is the only constant. There are no two views on that. But in this instance, it has brought good tidings to the organisation as a whole. How else could one interpret the latest development? The India Cements (ICL), which has come under the Birla-owned UltraTech Cement, has said that it has successfully completed and stabilised a de-bottlenecking initiative at Banswara Cement Works, Rajasthan. This has resulted in an increased production capacity of 0.3 MTPA. This initiative will result in the company’s grey cement manufacturing capacity increasing to 14.75 MTPA. In 2009, India Cements acquired controlling interest in a listed company — Indo-Zinc Ltd — which later became Trinetra Cement Ltd and a subsidiary of India Cements. In January 2011, Trinetra commissioned its green-field integrated cement plant known as Mahi Cement Plant at Banswara in Rajasthan with a capacity of 1.5 MTPA at a cost of Rs 600 crore. In April 2017, NCLT sanctioned the scheme of amalgamation of Trinetra Cement with India Cements. This resulted in bringing all the cement assets under one roof. Commissioned in January 2011, Banswara Cement Plant was originally set up by the company’s subsidiary Trinetra Cement (merged in 2017) in Banswara district of Rajasthan with a capacity of 1.5 MTPA. With Banswara Plant, India Cements successfully entered the northern and western by launching its popular brand Coromandel Cement riding on the popularity of IPL team CSK and iconic captain MS Dhoni, who is popularly known as Mahi. Well, the turnaround is really happening for India Cements. 

Odisha government’s profit-making Biju Patnaik International Airport (BPIA) at Bhubaneswar is likely to be privatised. The process to privatise the airport, set up in 1962 which handles 4.2 million passengers annually has already started by the Airport Authority of India.  Already the names of Adani, GMR and Zurich Airport Ltd are doing the rounds. But the general thinking is that the Union government may not be particularly inclined towards Adani to avoid a monopoly situation in the country. The tilt is towards Zurich Airport known for its world class management and security controls which is now constructing the new International Airport in Noida near Delhi. There is a strong feeling that Naveen Patnaik’s party, Biju Janata Dal, may oppose the privatisation move. It is understood that whoever wins the bid has to factor in absorbing 60% manpower cost or continue paying salaries till employees’ retirement age. With BPIA being privatised what happens to Puri’s ambitious international airport project backed by the Odisha government? That’s a big question mark as AAI is now fully focussed on how to utilise BPIA’s existing airport space which is not yet fully tapped.

Foreign remittance into India has galloped to $118.7 bn in 2023-24, recording the highest growth ever of 7.6%. In 2022-23, the forex inflow was $111 bn. Remittance from the U.S. has emerged as the biggest at 27.7% followed by the UAE 19.2% and other Gulf countries, as per Reserve Bank of India’s 2025 bulletin. Now, U.S. President Donal Trump is proposing a 5% tax on all international money transfers made by non-US citizens. One key driver for the heavy inflow has been the weakening of Indian rupee vis a vis the dollar. Over the last five years, the U.S. dollar has depreciated from Rs 75.71 to Rs 85.45, a 13% drop in value. This adds more value to every dollar sent to India. Maharashtra has emerged as the highest recipient of forex at 20. 5% followed by Kerala at 19.7%. Interestingly, Kerala which has been a big dependent on remittances from the Gulf countries — UAE, Saudi Arabia, Qatar, Kuwait, Oman and Bahrain today finds the U.S. as the biggest contributor. Incidents like 9/11, Covid-19, extreme weather conditions and obviously depreciating value of the rupee have all contributed to non-resident Indians investing in homes, land, stock market etc back home. According to sources at the International Institute of Migration and Development, remittances from the Gulf may fall in the coming years, while inflows from the U.S., the UK and Canada could rise. There are 45 lakh overseas Indians in the U.S., including 32 lakh PIOs. An international study at the FLAME University, Pune indicates that while students and skilled workers are increasingly heading West, the Gulf will remain important for many. There is a shift in migrant profile: more students, more professionals and more loans are taken to finance migration. This could help maintain strong inflows.

In the fast-evolving environment, the winning strategy is defined by smartness. How else could one describe this move by Tractors and Farm Equipment (TAFE).  The Chennai-based tractor company has been engaged in a legal row with its U.S. Partner AGCO Corporation. Both have cross-holding in each other. TAFE is the largest shareholder in AGCO. They have been partners for over six decades. Yet, AGCO has chosen to raise an avoidable dispute with TAFE over the ownership of Massey Ferguson brand. The U.S. company, it may be recalled, confirmed the termination of its commercial agreement with TAFE. Even as the dispute has taken a legal route, TAFE is understood to have decided that it would not nominate its representative to the board of AGCO. TAFE, being the largest single shareholder with over 16% stake, has the right to have a nominee on the board of AGCO. But, it has chosen not to have its nominee on the board. Well, this should give the Chennai-based tractor company quite an elbow-room to chalk out an independent course in the marketplace. How will this strategy play out? One has to wait and watch. In the meanwhile, TAFE has voluntarily agreed to extend its `standstill commitment’ till June this year. The agreement essentially is about freezing TAFE holding in AGCO. The termination of the commercial agreement with TAFE is interpreted as a move by the U.S. firm to force TAFE to sign a permanent `standstill agreement’. In a new normal environment, Indian firms aren’t shying away. Indeed, they are out to establish their multi-national aspiration.

Dinesh Beedi Workers’ Co-operative Society, an institution born out of a labour movement in Kerala in 1969, is struggling to keep its core business of beedi making afloat. The Kannur-based society which used to employ 42,000 women workers, today has only 2000 workers. As part of its survival strategy, many branches are being merged in Azhikode and Kannur into a single entity. During the best of its time, Dinesh had 16 branches under which 82 small scale units existed. Supporting the beedi manufacturing cause were 18 primary societies spread over Kannur and Kasargod generating a turnover of Rs 60 crore. Interestingly, working at Dinesh Beedi was considered as good as a government job, according to a beedi worker Savithri PV Dinesh used to pay Rs 50 for every 1000 beedis rolled. Today the competition is paying Rs 75 for 1000 beedis. Things took a turn for the worse in 1990 after increased health awareness, ban on tobacco promotion, smoking ban at public places, beedi being considered inferior and easy availability of cheaper brands from West Bengal and Tamil Nadu. Foreseeing an alarming future, the primary co-operative board of directors — all of whom were beedi rollers, chalked out an expansive diversification with the launch of Dinesh Foods in 1997. This was followed by Dinesh Information Technology Systems, Dinesh Umbrella, Dinesh Auditorium, 2001, Dinesh Apparels 2007 and Cafe Dinesh 2015. Almost all the beedi rollers who lost their jobs, found employment in garments and umbrellas making units, running cafes and upgrading their skills to IT. The diversifications are taking shape but it will take time to make up the loss of Rs 60 crore turnover from beedi rolling. 

Vizhinjam International Seaport, the country’s first deep water transhipment port is Kerala’s gift to the nation. The first phase of 3,000 metre breakwater and 800 metre container berthing facility has been set up at a cost of Rs 8,867 crore. The Kerala government has pumped in Rs 5,595 crore, partner Adani invested Rs 2,454 crore while the Centre, a measly Rs 800 crore by way of viability gap funding. The loan is repayable from future dividends. It is learnt that Adani group will invest another Rs 2,000 crore during the second and third phase of the project. It is estimated that the nation loses $220 million per annum for want of a transhipment port. In another estimate, the loss can be pinpointed to $ 100 per container. While in the first phase, Vizhinjam Seaport will handle one million twenty foot equivalent units (TEUs), on completion in 2028, the capacity would be 5 million TEUs. For Kerala, the port could end up as a major employment generator. For starters, the port has employed 755 people so far. While 67% of the workforce is from Kerala, 57% are from Thiruvananthapuram district. Notably, 35% of those employed are residents from the immediate vicinity of the port, thereby keeping the government’s promise of local job generation. Indications are that once the port is at full stream, it is expected to create a ripple effect in Thiruvananthapuram where there will be a surge in employment opportunities for dock workers and logistics personnel to transport, warehousing and ancillary service providers. And also, local economics is expected to increase demand for goods, housing, retail etc.

In a short span of four years, Sairaj Dhond, the brain behind Wakao Foods, a jackfruit-based vegan food company, has made waves in the food industry. This Goa-based company, launched in 2021, is India’s first plant-based product company. It has made successful business out of jackfruit, considered to be one of the most wasted fruits in the country. With jackfruit the company is offering ready-to-cook and ready-to-eat products which are 100% natural, without any artificial colouring, chemicals or preservatives. His range of offerings like Teriyaki Jack, Butter Jack, BBQ Jack, and Jack Burger Patty found easy takers as it was nutritious and delicious. Interestingly, the food needs no refrigeration and has a shelf life of nearly a year. His products are available in the USA, Singapore, Dubai and the Netherlands. Now, emboldened by this success he is now exploring the UK market. UK’s MH12 Foods which runs an e-commerce retail platform has expressed keen interest for a tie up. Dhond will soon begin manufacturing Jackfruit flour. With demand on the rise, the company which already operates a plant in Kerala is setting up a new plant at Kudal in Maharashtra.  It recently introduced the ready-to-eat Jackfruit Biryani that is delivered through Zepto in India. Dhond, it is learnt, dabbled his hands in one too many things, before he found his life calling in the food industry.

Kerala Tourism is introducing cruise tourism across the state’s coastline. The initiative aims to launch cruise routes that connect major and minor tourist destinations in Kerala. The government backed plan offers tourists a chance to explore and experience the state from a different perspective. According to an official of the tourism department, the state is shifting from destination-based tourism to experimental tourism. The plan is to start cruise operations from seven ports in the state — Vizhinjam, Kochi, Alappuzha, Kollam, Beypore, Neendakara and Kayamkulam. Kerala has been facing competition from other tropical countries which offers almost everything it has, the official said. The game plan is to offer a more immersive and memorable travel experience, he added. Private operators will operate vessels with varying seating capacity, cabins and other luxury amenities, says N S Pillai, Chairman, of Kerala Maritime Board, which will be overall supervisor of the project. The operations would be inter-state, inter-district and in the long run linking Goa and Bengaluru. With the operations of the Vizhinjam International Port gaining momentum, plans are afoot to integrate the cruise tourism project with broader port developments. Interestingly, even before the green signal had been given for the internal cruise project, the state government at a cabinet meeting yesterday, approved the sale of liquor on boats cruising across the Kerala coast for a license fee of Rs 50,000. 

The Odisha High Court has issued a stay order on the National Human Rights Commission (NHRC) proceedings pertaining to the alleged suicide of a Nepalese girl student at KIIT University. This effectively means that HC has temporarily suspended the NHRC’s March 27 order which held KIIT accountable to the suicide incident. KIIT moved HC stating it was not given an opportunity to be heard. One of the KIIT directors told shortpost.in it had to move the Odisha High Court because of victimisation. Justice SK Panigrahi at Odisha High Court while hearing KIIT petition emphasised the adherence to the principles of natural justice in quasi-judicial proceedings. The HC has issued notice to NHRC to respond by April 26 with the next hearing date scheduled for April 29. It may be recalled that KIIT University’s move, asking Nepali students to go back, was a diplomatic embarrassment for India as our country enjoys a good relationship with Nepal. In all this drama being played the general question everybody is asking: Will the deceased Nepali girl student ever get justice?

Ashesh Jani, Co-founder of Ribbon App that offers multi-currency accounts and wallets for 32 currencies, recently flew into London to meet K Rajaraman, chairperson of the International Financial Services Centres Authority (IFSCA) and Dipesh Shah, Head of Development of Financial Market & International Affairs. The IFSCA is located at the Gujarat International Finance Tec-City (GIFT City) in Gandhinagar. The meeting facilitated by the Indian High Commissioner Vikram Doraiswami was to explore the possibility of Jani setting up operations in the GIFT City. Ribbon, whose tagline is: ‘Account Before You Fly’, offers a range of services that is tailored for Indian students and professionals relocating to the UK.  Seeing the huge potential in the domestic market, Jani is keen to set up an Indian office to do domestic business. Ribbon offers multi currency accounts and wallets with an embedded payments marketplace, and access to deposits, FX, Crypto and equity trading platforms.  Its AI-powered app is designed to offer a hyper-personalised experience to its users. What probably attracts Ribbon to invest in India is the competitive tax environment that GIFT City offers.

Kothari Industrial Corporation Ltd (KICL) has a Qatar connection. A company belonging to the Royal family of Qatar has invested in KICL picking up, in the process, a 10% stake in the Chennai-based firm. KICL is now solidifying its ties with Qatar.  The Chennai company has set up a Kickers fashion store at Doha in Qatar. Kickers is a French footwear and apparel brand which was bought in 2007 by the Royer Group. The store opened on March 26. KICL has a long-term licensing pact to market Kickers brand in India and a few other countries. The Doha store signals the desire of KICL to firmly establish its footprint in the global retail market. The store is housed at a prestigious mall of Qatar. The collaboration with the Royer Group of France for Kickers brand has already seen KICL establish a mall in Chennai. With a rich legacy, KICL is making a strong comeback to regain its yesteryear glory. Rafiq Ahmed, the new owner of KICL, has laid out an ambitious plan to open 100 exclusive Kickers stores across India. KICL turnaround under Rafiq Ahmed has already seen its shares back on bourses. Since its relisting early last year, there has been an upward drive for the KICL share. Today, the market capitalization of KICL is inching close to Rs 1500 crore. Well, KICL is on a fast-lane and keen to go places, it appears.

Savoury and sweet maker Haldirams run by the Agrawal family has been in the news for quite some time now. Recently, it sold a 10% stake to Singapore Temasek Holdings at a valuation of $10 bn. Besides, the Delhi and Nagpur arms are being merged to form a new entity Haldiram Foods & Snacks which may be listed soon. The latest news from Blighty is that Haldiram Nagpur has picked up a 20% stake in the UK-based fast food chain Shree Krishna Vada Pav (SKVP) run by two young entrepreneurs Subodh Joshi and Sujay Sohoni. Started in 2010 from a small sublet space on the high street of a suburban district of West London in Hounslow, the duo was the first to give vada pav a commercial status in the UK. It seems vada pav has tickled the palate of not only the Indian diaspora but also Britishers. In the last 15 years, SKVP, which has 70-plus Maharashtrian snacks, have sprung up in 18 locations across England, and with Haldiram they plan to increase the number to 30 in 2025 and double it by 2030 so as to have a presence in all cities in the UK. Plans are afoot to enter into other countries in Europe. Haldiram will appoint two members on the SKVP Board to offer its expertise, guidance and share the knowledge of its distribution and supply chain. Haldiram products including locally manufactured sweets will also find space on SKVP aisles.

A public notice a few days ago in a leading English newspaper by Crompton Greaves Consumer Electronics has set tongues wagging. The notice obviously is intended to put at rest confusion over the identity of the owner of a particular logo. Asserting that the company “only uses the logo/house mark Crompton as part of its corporate identity and business,” the company made it clear that it “has got no association, connection, reference or affiliation with CG logo or the company which owns the logo”. “Crompton does not associate with any of the products being sold or marketed bearing the aforesaid CG logo or warranty claims/liabilities which arise out of such incorrect association,” it further said, warning the general public, trade and others.  A trip down memory lane will put the whole issue in perspective. In 2017, the Crompton Greaves Ltd name was changed to CG Power Industrial Solutions Ltd. The products of CG Power had been marketed under the CG logo, while the consumer products under the erstwhile B2C segment of the company were marketed as “Crompton’ or “Crompton Greaves”. Pursuant to the demerger of the consumer business into a separate entity, namely, Crompton Greaves Consumer Electricals Ltd (CGCEL), CG Power and CGCEL had agreed to transfer the trademarks associated with the consumer products business — “Crompton” and “Crompton Greaves” — to CGCEL and, consequently, discontinue the use of trademark “Crompton” and “Crompton Greaves” in the corporate name of CG Power. In 2020, Murugappa Group-led Tube Investments of India Ltd picked 56% stake in CG Power for around Rs 700 crore. CG Power under the Tube Investment has been a stellar turnaround story. With CG Power and CG brand hogging headlines, Crompton Greaves is caught in a huge discomfort.  Not surprisingly, it has prompted Crompton Greaves to promote its original Crompton brand. Logos can also...

Industrialist Gautam Adani’s 90-minute late night Saturday meeting (Mar 15) with Maharashtra chief minister Devendra Fadnavis has raised many an eyebrow. The meeting at ‘Sagar’ bungalow of the CM is considered meaningful since the Adani Group has only recently bagged a huge redevelopment contract in north Mumbai’s Goregaon suburb. The project to redevelop Motilal Nagar colony at a cost of Rs 36,000 crore is among the largest in the metropolis. The group has been under attack by the political opposition of the Fadnavis government in connection ever since it won the prestigious Dharavi redevelopment project. Allegations are made that the ruling saffron coalition is giving away Mumbai to Adani on a platter. Not deterred, Adani has maintained contacts with the Nationalist Congress party founder Sharad Pawar and Fadnavis. Both have had meetings on a couple of occasions during the past few months. The Saturday meeting began around 11 pm and ended after midnight. The 143-acre land parcel is in Goregaon, a stronghold of the BJP. Adani’s name was embroiled in the Hindenburg controversy last year. At the time, Pawar had defended the industrialist stoutly. The result was that the demand to appoint a joint parliamentary committee proved to be stillborn. Similarly, Pawar’s visit to Adani’s office and residence in Ahmedabad had attracted vast media attention. Earlier, Pawar and Adani had inaugurated a factory in Sanand in Gujarat. Except for a token protest, the Opposition Maha Vikas Aghadi has remained aloof so far about Adani.

Residents of Manchester or the Indian diaspora in the UK are euphoric for two reasons. The first is the inauguration of a special Indian consulate in Manchester on March 8 by external affairs minister Dr S Jaishankar. Second, is the announcement by IndiGo airlines of a direct flight to India from Manchester. Dr Jaishankar gave away the secret that both these decisions were an “ask by Angela Rayner” Deputy Prime Minister of the UK – a staunch labour leader from Manchester. Direct flight was a long-standing demand of Indian Mancunians (residents of Manchester). In return, Jaishankar has asked Rayner to open UK universities, tie-up with Indian educational institutions. Indigo’s decision to operate Manchester-India direct flight came as a shock and surprise to the aviation industry. Though the destination in India has not been announced, sources say that IndiGo could fly to the new airport in Navi Mumbai. This is because IndiGo is building a huge hub at the Navi Mumbai airport and it makes sense to fly their newly acquired wide-bodied aircraft from Norso to Navi Mumbai.  It may be recalled that last year the Tata-controlled Air India too had announced direct flight between Manchester and India but decided to put it in cold storage and focus on the U.S. sector. It is learnt that on this North America sector — San Francisco and New York – Air India is providing Premium economy seats and there is a good response. Industry experts are asking why British Airways did not think of the Manchester-India flight. IndiGo drew up special plans to operate from Navi Mumbai as Emirates does in Dubai. IndiGo may start the operations from July 2025 to coincide with the Navi Mumbai airport becoming operational. Rahul Laud, Manchester

From the word go the Puri Jagannath International airport seems to be an on-off project. For starters there were no bidders followed by land and environmental clearance issues and finally the big question raised was about its viability as it was close to Bhubaneswar airport. Now, highly placed sources say that the Odisha government is keen to get the airport operational on a priority basis. Towards this, the government has ensured that the project will not face any hurdles from the environment ministry. The state’s chief secretary Manoj Ahuja while addressing the third High Powered Committee has made it clear that Puri International Airport is a priority for the Odisha government as well as the Centre. The new airport can help bolster regional and international connectivity thereby giving fillip to tourism vis a vis economic growth. As regards project viability efforts are being made by ensuring viability gap funding. This greenfield airport project will be spread over 1,164 acres. Immediately the Odisha government is going ahead to acquire 221 acres of land which falls under Brahmagiri Tehsil. The villagers will be fairly compensated for land acquired. But there are doubting Thomases who feel that this public-private partnership project will not see the light of the day. Their argument is that the greenfield airport may not prove to be viable as the close-by Bhubaneswar airport already attracts 4.9 million passengers and it is expanding to make provision for 16 million passengers in the next five years. But it has the constraints of not being able to increase its runway.

IPL fever has already gripped the city of Chennai. And, the ever-popular CSK (Chennai Super Kings) is out to do everything to woo its fans. Always darling of fans, CSK is out to strengthen its bonds with its fans. For a second successive year, Chennai Super Kings joined hands with Metropolitan Transport Corporation (Chennai) Limited (MTC) for TATA IPL 2025. Ostensibly, this tie-up is intended to improve fan convenience. Fans with tickets for Chennai Super Kings’ home matches can travel in MTC buses (non-AC) for free from three hours prior to the start of the match. The match tickets will double up as the travel tickets. “The partnership comes as a part of Chennai Super Kings’ commitment to creating a seamless and fan-friendly experience, ensuring that supporters can enjoy the match day excitement from the moment they leave their homes,” said KS Viswanathan, Managing Director, Chennai Super Kings. “We encourage fans to use public transport and enjoy Chennai Super Kings’ matches in Chepauk. With approximately 8,000 fans using the bus services from different parts of the city each game in 2024, we expect larger support from fans to use public transport.” Chennai Super Kings are set to play their first match in Chepauk on March 23 against Mumbai Indians. (By Special Arrangement With Industrial Economist)