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It was a disinformation war fought on social media to mislead Tamil Nadu voters. DMK leader and Tamil Nadu chief minister MK Stalin accused the Union government of “denying” metro rail to Coimbatore and Madurai as part of revenge politics; and his post emphasised how the Centre was favouring BJP-ruled states over non-BJP states in providing metro services. Responding to Stalin’s charge, Union Urban Affairs Minister Manohar Lal Khattar in a post on X said Stalin had “chosen to politicise” the issue and had ignored the “magnanimous sanction” made by Central government of Rs 63,246 crore for Chennai Metro Phase II for a route of 119 km, the largest ever such project approved. As for rejection of metro projects for Coimbatore and Madurai, Khattar added that the Detailed Project Reports did not comply with essential norms of the Metro Rail Policy, 2017, mandating a population threshold of two million in the urban agglomeration. The Coimbatore and Madurai proposals apparently contained the following discrepancies: (1) For lesser route length in Coimbatore than in Chennai Metro system, a higher traffic projection as compared to Chennai had been given. On the face of it appeared erroneous. (2) Projected average trip lengths and speed differentials between road traffic and the metro, did not support the expectation of a modal shift of traffic to a metro system. A miffed Stalin however felt that Tier-II cities in BJP ruled states were being favoured while opposition ruled States are deprived, is a disgraceful approach. Asserting that Tamil Nadu, the land of self-respect, will never accept a distortion of federal principles and will ensure that Tier-II cities in the state also get metros. Tamil Nadu BJP leaders like Vanathi Srinivasan asserted that Coimbatore and Madurai would get metros under AIADMK-led government post assembly polls.
The bonding between both the ruling and opposition coalition partners in Maharashtra went for a toss for the forthcoming local self-government bodies elections scheduled in December. The local polls for 246 municipal councils and 42 nagar panchayats, the first local polls being held in state post-Covid lockdown, are crucial for all the parties as they are being held after a long gap. Surprisingly, the ruling Mahayuti government has poached a leader from their own coalition partners — Eknath Shinde-led Shiv Sena. This upset Shinde’s ministerial team so much so that they protested by boycotting the November 18 cabinet meeting. Chief minister Devendra Fadnavis remained unrepentant and is said to have not just justified the poaching. Keen to form a “triple-engine sarkar” in Maharashtra, Fadnavis is keen to replicate BJP’s success at the Centre and State level for the third time at the local governance level. Equations at the local self-government elections have always been known to be at variance with parties’ stated positions at the state or central government level. The split in outfits like the NCP and Shiv Sena has further muddied the political waters in the state and parties are finding it difficult to rein in the ambitions of their party workers. While Sharad Pawar, known to have his ear to the ground, has already clarified that his partymen were free to align with anyone at the local level, others fail to be that clear. The Congress is going solo and not aligning with the MVA in these local polls in response to the political alignment of the Thackeray brothers. While Congress is worried about allying with Raj Thackeray’s MNS lest it affect their North Indian voters, it is equally wary of allying with its own coalition partner, Uddhav Thackeray for successfully attracting their core Muslim vote bank in recent polls.
It is really amazing to see that both the Dravidian parties in Tamil Nadu — the ruling DMK that is part of INDIA Bloc and aligned with the Congress, and the Opposition AIADMK that is aligned with the BJP — are drawing a lot comfort from the historic verdict in Bihar which saw return of Nitish Kumar as CM for a record 10th term. Of particular interest is the way DMK leader and Tamil Nadu CM MK Stalin, who had even travelled to Bihar in August and joined Rahul Gandhi and Tejashwi Yadav in a rally against SIR of electoral rolls. Stalin was convinced that Nitish Kumar decisively won the electoral battle for “fulfilling the expectations of the people of Bihar”. On X he tweeted “Election outcomes reflect welfare delivery, social and ideological coalitions, clear political messaging, and dedicated management until the last vote is polled. The leaders of the INDIA bloc are seasoned politicians capable of reading the message and planning strategically to address emerging challenges.” At the same time, he felt the results cannot whitewash the misdeeds and reckless actions of the ECI. On the other hand, AIADMK leader Edappadi K Palaniswami in a X post which has a tagline “Say YES to Women Safety”, said how on Nov 14 the people of Bihar had given a fitting response to the Congress-led INDI alliance, rejecting its falsehoods and attempts to undermine the institutions of democracy. In more ways than one, the Bihar verdict had ended uncertainties about the NDA alliance in Tamil Nadu. In fact, a group of AIADMK leaders were already in Patna on Nov 14 cheering for the NDA win. This is in contrast to the way Stalin had been mocking Biharis for flocking to Tamil Nadu for low skilled jobs.
It’s become increasingly clear that India’s batters of the highest quality of recent times come a cropper against quality tweakers from overseas countries — especially on designer tracks that show bias of the surface. There have been one too many instances of the top batters failing repeatedly to spin. It happened against New Zealand at Pune and Mumbai last year and the spinners who exposed the vulnerable nature of the India batters were Mitchel Santner and Ajaz Patel, both left-arm spinners. Prior to that, India’s batters could not put up a commanding display against Australia’s experienced Nathan Lyon and tyro spinners in Tod Murphy and Matthew Kuhnemann and England’s Tom Hartley, Shoaib Bashir and Rehan Ahmed. Of the above lot, New Zealand’s Patel has been the most successful at a single venue — the Wankhede Stadium where he has taken 25 wickets in two Tests. While India managed to prevail over Australia 2-1 and beat England 4-1, the Rohit Sharma led team lost 0-3 last year. In the current home international season, India scored an easy win against the West Indies, but struggled against the South African off spinner in the first innings of the first Test at the Eden Gardens. Fresh from their victory against Pakistan at Rawalpindi where Harmer and Maharaj took 17 wickets, the off spinner took four in the first innings at the Eden on a spiteful surface. Utter chaos happened on the pitch that is likely to earn the wrath of the ICC. The uneven bounce was dangerous on occasions and not a single batter could play strokes without fear. The Eden pitch also proved that the home team batters were far from equipped to deal with good spinners.
T Sathishkumar started as a simple Dhoodwala in Erode. Expanded to procuring 8 lakh litres from 70,000 farmers …a business he could sustain for long, as India had reached top spot as the world’s top milk producer, powered by the White Revolution and Verghese Kurien’s panavision dream for Anand and Amul. Today, Milky Mist Dairy (MMD) procures milk from 20 districts of TN and has every derivative product from milk – paneer, cheese, curd, flavoured yogurt, milk shakes, ghee, butter, payasam and shrikhand. MMD’s mozzarella cheese making plant is the biggest in the country, boasting a robotic line of production and crucial in the supply chain of the fast food industry. MMD’s paneer is a marketer’s dream journey…a few years back, paneer was not so popular in South cuisine. Now Milky Mist has won aggressively challenging Amul, Mother Dairy, Nandini, Gowardhan and some regional brands. Before the advent of Milky Mist, AAVIN TN’s flagship dairy brand had kept much of the market in its grip. The way retailers were coaxed to stock Milky Mist paneer is a case study for business schools. The same business spirit of adventurous strategy is now evident in the introduction of Milky Mist SKYR, a protein-led traditional Icelandic recipe that wants to lead the fitness market with a unique protein product …easy to consume straight out of the cup to those in search of muscle and strength. All these are reflected in its impressive financials. It has grown from Rs 1,015 crore in FY22 to Rs 1,437 crore in FY23 to Rs 2,349 crore in FY25. Now, the company is getting ready for an IPO at an expected valuation of Rs 20,000 crore
Ajay Devgn has long been a study in contrasts: a brooding intensity that anchors thrillers and dramas, and a surprisingly limited palette when it comes to frothier entertainments. As De De Pyaar De 2 hits theatres, it’s worth asking whether the actor’s recent script choices are eroding the cachet that once made him a dependable box-office draw. Devgn’s strengths are clear. He remains one of Hindi cinema’s most effective serious actors, capable of delivering taut, controlled performances in films that require grit rather than glamour. That steady gravitas has earned him big payoffs with the right material. But his flirtation with lighter comedy and flamboyant romcom territory has been uneven. Where he convinces as the silent, suffering hero, he often looks out of sync when a role demands snappy comic timing, dancing dexterity or an easy romantic swagger. Past attempts at broader comedy and mixed-genre projects have underlined this mismatch. Recent outings have done little to reassure audiences. Films such as Son of Sardar 2 and previously, Thank God had failed to fully connect with critics or viewers, De De Pyaar De’s first instalment drew mixed reactions, and a string of smaller turns and guest appearances went largely unnoticed. More recent projects like Auro Me Kaha Dum Tha’, Maidaan and Bholaa were widely seen as disappointments, reinforcing a narrative that not every script suits his strengths. For Devgn, the clear path forward is selective boldness — leaning into taut thrillers, moral dramas and textured character work, while being more discerning about lightweight fare that asks him to play against his core strengths. His next choices will determine whether he reaffirms his standing or drifts into forgettable territory.
Kerala’s seaplane project, first conceived in 2013 and aborted twice following protest from environmentalists and coastal fishermen, is finally set to takeoff. The civil aviation ministry has cleared 48 routes for operations in the state under the government of India’s UDAN (Ude Desh Ka Aam Naagrik) scheme. The project has received seven proposals from private operators. Till date, the State government has approved India One Air, MEHAIR, PHL and SpiceJet to operate, according to Kerala Tourism Minister PA Mohamed Riyas. The development comes about at a time when the authorities have successfully completed the groundwork for the launch of seaplane services from Kochi Airport to Lakshadweep. Spice Shuttle, a subsidiary of Spice Jet plans to operate a 22-seater plane for tourists and as a public transport. A one-way trip is expected to cost Rs 12,000. The authorities also promise to extend a few tickets at subsidised rates — Rs 4,000 under the UDAN scheme. Lakshadweep, which is now being heavily promoted by the government of India as a top tourist destination to take on the likes of Maldives, has only one airport, Agatti. A flight from Kochi takes one and half hours to reach Agatti. Today tourists and local inhabitants have to travel to other islands like Kavaratti and Kadmat by boat or helicopter. In the long run, the seaplanes from Kochi will also fly directly to the neighbouring islands. A model similar to the proposed Kochi-Lakshadweep seaplane, manufactured by Canadian company De Havilland, was used to conduct trial flights from Kochi to Mattupetty in 2024. In addition, the routes being explored include Kochi-Wayanad, Kochi-Idukki. Other destinations for expansion to leverage Kerala’s abundant natural beauty, include Kovalam, Ashtamudi Lake, Kumarakom, Idukki dam, Malampuzha dam, Banasura Sagar Dam and Bekel.
The Federation of Cine Technicians and Workers of Eastern India has blocked the release of yet another Bengali film, fuelling speculation over whether it is merely a procedural dispute or one tangled with political undercurrents involving cast members Rudranil Ghosh and Sourav Das. The latest film caught in the crossfire is The Academy of Fine Arts directed by SRFTI debutant Jayabrata Das. Despite receiving the go ahead from the Central Board of Film Certification, the November 14 release was halted just 48 hours before opening. The move triggered a flood of social-media outrage, with many alleging arbitrary gatekeeping by the Federation. The guild claims the film breached industry rules due to the involvement of Pramod Films during post-production. That association, it argues, makes the project a commercial production, mandating guild-registered technicians and prior clearances. Federation president Swarup Biswas insists their objections target Pramod Films, not students, and has demanded the removal of the banner’s name from posters, trailers, and the censor certificate. He dismissed allegations of financial demands. Jayabrata, in a lengthy post, stated that the student team had worked independently for five years with scant resources and sought limited help from Pramod Films only when funds were depleted. The Federation has also questioned the film’s Mumbai registration, high-end shooting locations, extensive marketing, and a distribution plan involving INOX, PVR and UFO Cube, which typically costs Rs 18–20 lakh. The presence of actors like Rudranil Ghosh, now with the BJP, and Sourav Das, who appeared in The Bengal Files, has added to speculation on whether political optics are influencing the Federation’s stance. Meetings between the parties remain inconclusive, leaving the fate of the Rs 25-lakh partly crowdfunded film in limbo as calls for its release grow louder online.
Presence of mind by a Varanasi journalist resulted in the reunion of a four-year-old girl with her parents. The toddler was kidnapped from Mumbai in May this year. The Mumbai Police had launched two special search efforts called “Operation Shodh” (Operation Trace) to find the missing child. The breakthrough came when a local Hindi-speaking journalist alerted the authorities about a girl, speaking in Marathi, housed at a local children’s shelter. The girl and her family, originally from Solapur, were in Mumbai for her father’s medical treatment when she went missing on 20 May while playing in a crowded area. Mumbai police teams travelled to Uttar Pradesh time and again during their six-month investigation. The child had been left near Varanasi station by an unidentified suspected kidnapper. Local authorities placed her in the care of an orphanage, where staff members started calling her “Kashi.” After receiving the tip, Mumbai police confirmed her identity and later, the parents, too, identified their daughter over a video call before her physical reunion with them, incidentally on Children’s Day. Mumbai’s DCP Zone 1 Dr Pravin Mundhe and Senior Inspector Yogesh Sable led the investigations. The CCTV footage revealed that the kidnapper boarded a train from Lokmanya Tilak Terminus towards Uttar Pradesh. During the November 1 to 15 ‘Operation Shodh’ drive, the police distributed the girl’s photos, stuck posters all over Varanasi and published information in the local newspapers. That was when the breakthrough came. The kidnapper is still at large.
Tiny Temba Bavuma played a giant’s hand in keeping South Africa in the hunt at the bowlers’ paradise that Kolkata’s Eden Gardens turned out to be. His seventh half century in his last 11 innings was another valuable contribution to a team that he led to an unlikely victory in the World Test Championship last summer at Lord’s over defending champions Australia. His gritty presence at the crease even brought out a rare curse from the lips of India’s gigantic performer with the ball, Jasprit Bumrah. A taunt over Bavuma’s dwarfish physique was not in order, but it might have escaped attention of the match authorities as it might have been lost in translation. What it signified was what a gutsy performer the pocket-sized batsman is and how he outlasted everyone to make the highest individual scores in very tough batting conditions. The sporting crowd at the Eden Gardens stood up to a man to celebrate Bavuma’s half century. Without the advantage of height or power, the Cape Town born battler has built his game around patience and solid defensive technique and is nearing the 4000-run mark in Tests. The first black African batsman to be picked to play Tests for South Africa has more than justified his place in the rainbow nation’s team. His stature in South African cricket is a tribute to the spirit of man that shone through regardless of race or colour.
Things took a bleak turn for the Kerala Government recently, when the Thrissur-based Karuvannur Cooperative Bank rejected pleas by a customer to withdraw a part of his deposit of Rs 40 lakh. Consequently, the customer’s wife died as they did not have money to meet the hospital bills for a critical operation. After that similar deeds of mismanagement, embezzlement, and non-disbursement of deposits have surfaced not only from the Karuvannur but other cooperative banks across Kerala. Kerala has 1600 cooperative banks in all, with bulk of them controlled by CPM. The Kerala Cooperative Minister, VN Vasan, admitted in the assembly that 160 cooperative banks are unable to return funds to depositors due to financial crunch. The modus operandi of cooperative banks are simple. The political parties/leaders start the bank first in each district and then in big towns. Local leaders at the municipality, block and ward level, head these banks. They then employ their cadre in the bank as clerks, managers, peons, sweepers etc. Then they use their clout and political muscle to garner deposits promising higher rates of interest than scheduled banks. Loans are then disbursed to those who curry favour with the party and leaders. Home Minister Amit Shah, who is also the Co-operative Minister is yet to swing into action as majority of the 98,042 co-operative banks in India are in two politically sensitive states, Maharashtra and Gujarat.
Six years after being banned, Google is relaunching its street view service in India in partnership with Tech Mahindra and Genesys International. Starting Wednesday (August 3) — Street View — which displays 360 degree panoramic street-level images will be available in Delhi, Mumbai, Bengaluru, Chennai, Hyderabad, Pune, Nashik, Vadodara, Ahmednagar and Amritsar. Google intends to expand the service to 50 cities by 2022. Starting with Bengaluru, Google Maps will also inform users of the speed limits data shared by traffic authorities. The Mumbai-based Genesys International has been a pioneer in the introduction of street imaging maps in India. Over the next 12 months, Genesys plans to cover all of urban India street imaging, spanning over a million kms. This makes it the largest street imaging exercise in the country. Genesys has the technology and capability to capture almost 150,000 unique kms of street imaging data, according to Sajid Malik, Chairman & Managing Director. To put this number into perspective, the island city of Mumbai is 5000 unique kms. The company is building one of the biggest imaging platforms in India, across both street and aerial, in sync with the Prime Minister’s vision of Digital India reflected in the geospatial policy, added Malik.
On July 21, a beautifully decked up bride left her home with 4000 well-wishers (read workers) shedding tears and bidding her adieu. That was not just the last Ford EcoSport car rolling out of their beloved Ford manufacturing plant at Maraimalainagar in Tamil Nadu. It was the end of the road for all 4000 workers with the Ford parent deciding to exit India. The Chennai plant was set up in 1995 on 350 acres to make 4 lakh vehicles along with the Gujarat plant. The Figo, Endeavour, Ikon, EcoSport were hugely popular. But how long can a business sustain losses, whatever the emotional quotient tagged to a product made with pride? The President of Ford Motors, Jim Farley had candidly admitted that Ford had accumulated $ 2 billion losses producing only 80,000 vehicles a year with the plant having an installed capacity of 4 lakh vehicles. The Covid-19 lockdown, global downturn and business cycle factors are quoted ad nauseam. Even a brief dalliance for a second time with Mahindra was tried in 2019. No one can really pinpoint why it did not succeed. But for now, it is the plight of these 4000 workers that is heart wrenching. Even as we talk about Aatma Nirbhar Bharat, the future of such trained dedicated workers who suffer the whims of global business has to be seriously considered.
The free run that tech majors like Google, Meta, Microsoft, Apple, Twitter, Amazon enjoyed in India will be a thing of the past. Already, they have come under pressure to take down content considered unlawful, inappropriate and disturbing public order. And if Rajeev Chandrasekhar, Minister of State for IT and Electronics has his way, all of them will be paying Indian newspapers and digital news publishers a share of revenue for using original content. The move is being mooted through regulatory interventions, which is expected to happen as part of the revisions being made in the existing IT Laws. “The Indian news publishers have no negotiating leverage at all, and this needs to be tackled legislatively,” said Chandrasekhar in an interview. The market power on digital advertising that is currently being exercised by the Big Tech majors, has already put Indian media companies at a disadvantage. Several countries like Australia, France and Spain have passed rules that require Tech majors to compensate content producers for using their content and search results. It comes as no surprise that spear-heading the Indian initiative is Rajeev Chandrasekhar, a media honcho himself. Chandrasekhar owns two satellite channels, Asianet News and Suravana News and a clutch of digital news websites in South Indian languages. Incidentally, he was one of the founder-promoters of Republic TV, but sold his stake subsequently.
Soon tipplers in Kerala will be sipping wine and liquors made from locally grown fruits and it will be relatively cheap. By giving license to make fruit-based, low alcohol content beverages, the Kerala government intends to boost cultivation of bananas, pineapple, jackfruit, cashew and nutmeg in the State. The government has also initiated steps to extract liquor from tapioca, for which it has allocated Rs 2 crore in the Budget. Studies show that 250 ml of spirits can be produced from 1 kg of tapioca at a cost of Rs 48. Meanwhile, a local cooperative bank, Payyavur Service Cooperative Bank has been given permission to produce liquor from cashew apple on the lines of Goan Feni. The new President of the Cooperative Bank, TM Joshy, had mooted the idea of making liquor from cashew apple way back in 1991. “As the state and its people always hesitate to accept new and non-conventional ideas, my attempt had failed then”, said Joshy. As per rough estimates, farmers are expected to make Rs 300 crore per annum and excise department another Rs 300 crore from production and sale of Feni. It is learnt that liquor and wine made from fruits and vegetables sourced locally will be processed and distributed by the Kerala State Beverages Corporation Ltd (Bevco), which has a wide distribution network.
Are people adapting to digital technologies? Well, if the question is posed to Tata Sons’ Chairman N Chandrasekaran, the answer is a resounding ‘yes’. “Deepak Parekh bought a smartphone, otherwise he was always using a SMS, text phone. When he said abhi (now), I need to be at least on WhatsApp, I need to do Zoom calls, so I bought a smartphone,” Chandra, as is fondly known in the industry, said. It is no brainer that the Tata group chairman was referring to HDFC Chairman Deepak Parekh, who is 77 years old. Despite his oversized stature in the corporate world, Parekh, the Padma Bhushan awardee never upgraded his normal cell phone, until the pandemic struck. Hence, Parekh buying a smartphone becomes the benchmark or the proof of ‘digital adoption’ gaining ground. In comparison, Chandra, also a Padma Bhushan awardee, is known for his technological prowess. The head of IT behemoth Tata Consultancy Services is also the author of ‘Bridgital Nation: Solving Technology’s People Problem’. Chandra’s comments were made at the 74th Founding Day Lecture Meeting of Bombay Chartered Accountants Society (BCAS), where he was the guest speaker. In his speech, Tata Sons’ Chairman also hailed the “huge innovation” and the huge human spirit and how people could adapt – poor and rich – during the last two years of Covid.
Birmingham-based Ghanshyam Nabar is go to man. This 40-year old director of West Midlands India Partnership (WMIP) is helping Indian businesses find opportunities in the UK, particularly West Midlands. As somebody responsible for WMIP he is driving collaborative engagement between the West Midlands and India to unlock mutually beneficial and sustainable economic opportunities. He brings to table rich experience to ensure deals fructify and its win-win situation for both India and the United Kingdom. Such a laser-focused approach has seen him and his organisation gaining recognition and bagging awards. At the recently held UK India Awards his organisation won the award for the Best Business Promotion Agency Of The Year Award. WMIP edged out contenders like The Federation of Indian Chambers of Commerce & Industry (FICCI), Department of International Trade UK, Confederation of British Industry (CBI) and Manchester India Partnership to win the award. Nabar had won the same award for two years in a row for the Manchester India Partnership. Recently, WMIP hosted a do for the Indian delegates at Edgbaston ground. Spotted at the cricket match were Ajay Piramal and his son Anand. Besides, there were Telangana’s Principal Secretary Industries & Commerce Jayesh Ranjan, Prakash Wakhankar, BBC commentator and head honcho at the Mahindra BSA, Ankit Agarwal, CEO, Sterlite TECH, Dr Ravi Limaye, MD of Wockhardt. Looks like Nabar and his organization are creating the desired impact among the Indian diaspora.
Former BBC Global Food Champions, The Akshaya Patra Foundation (TAPF) UK, is growing rapidly with huge support from UK people. Speaking to shortpost.in, Bhawani Singh Shekhawat, CEO &Trustee, TAPF UK stated that his team is exploring all possibilities to open more kitchens in the UK. This means an addition to the existing kitchen at Watford which is already serving half million free meals a year. The new kitchens are likely to come up in the Midlands and North England in Manchester and will serve one million free meals every year, taking the total free meals distributed to 1.5 million a year. According to a TAPF study there are 8 million people in the UK affected by food poverty. Of these, nearly 5 million suffer from acute food insecurity. This includes low-income homes, the unemployed, the vulnerable and the homeless. There are close to 3 million children who sleep hungry during school holidays. Unfortunately, for 3 million children in the UK, holidays turn out to become “hungry holidays” instead of happy holidays. Besides, there are close to 300,000 homeless persons across England today. There are even more adults who are deprived of a basic plate of food. TAPF, winner of the Organization for Social Impact award at the India Global Forum, serves hot, tasty vegetarian food to the needy every day at no cost.
Kerala’s capital city of Trivandrum is not quite a place of shopping frenzy like Mumbai, Bengaluru or Delhi. But Yusuf Ali’s Lulu Mall has done the impossible by introducing a midnight shopping concept in Trivandrum. What started on a trial basis has ended in a resounding success. The Mall owners have now promised to conduct the night shopping spree on a frequent basis. Huge crowds started milling around the Mall hours before the official opening at 11.59 pm (July 6). The roads nearby were chock-a- block and so were the parking bays. “Our intention to encourage midnight shopping was to offer a new and peaceful shopping experience,” said Joy Shadanandan, Regional Director, Lulu Group. To ensure the success of midnight shopping, there were many firsts like 50% discount on all purchases, a pink parking area exclusively for women customers. The security was upped with more personnel in mufti to ensure women safety at night. The Kerala Government also helped in with more policing and traffic management. Special bus services were introduced by the public transport provider, KSRTC. Lulu Mall in Trivandrum has crossed the one-crore-footfall mark since its opening in December 2021. With the success of the night shopping the erstwhile Travancore Kingdom could well attain the tag of “a City which never sleeps”.
It did poorly in the last edition of the IPL (Indian Premier League). That has not in any way brought down its brand equity, however. Proof of the pudding is in eating it is said. If at all any proof is required, here is the latest. For the first time perhaps in the annals of the IPL team Chennai Super Kings (CSK), its original franchisee owner, The India Cements Ltd (ICL), chose to leverage the CSK brand name and launched a new product sometime in the middle of March this year. India Cements launched on March 16, 2022, Conkrete Super King (CSK), a new brand of cement, across the country. Touted as a one-stop concrete solution – from foundation to roof, the launch of Conkrete Super Kings was followed by some aggressive digital campaigns, digital advertisements, hoardings, jingles et al. Well, the CSK brand of cement has sold one lakh tonnes since March when it was launched. The CSK brand launch has, coincidentally, seen India Cements beefing up its marketing apparatus. The N Srinivasan-led cement major has strengthened its marketing and sales force by recruiting a number of foot soldiers to give brand CSK a big push in the marketplace. A new-found focus is certainly on to give CSK cement an all-India visibility. Well, the numbers appear to be encouraging for the ICL mandarins.
The Taj Group of Hotels has retained the iconic Taj Malabar Hotel at Willingdon Island in Kochi, Kerala. The Cochin Port Authority (CPA) which owns the property, finalised the bid for operating the heritage property on July 1. Though many leading hospitality groups showed interest in the bid, but the Taj Group managed to retain it for an enhanced lease amount of Rs 1.25 crore per annum. Taj Group paid Rs 71 lakh per annum for the earlier lease. Under the new agreement which is for 30 years, the lease amount will increase marginally every five years. Quite a few hospitality chains had picked up the bid documents, but ultimately there were only two bidders. Though the Taj group had the benefit of first right of refusal, they resorted to outright bidding to retain the property. CPA, did not disclose the name of the competing bidder. With the new Coastal Regulation Zone rules in place, no expansion of the hotel can be undertaken. So, the Taj Group will undertake an exhaustive renovation of the hotel and resort. Ever since CPA indicated that it was going for a fresh bidding of the resort, no upgradation or renovation was done at the premises for nearly two years.
With the Indian Space Research Organisation (ISRO) reportedly planning for eight programmes in the next decade, companies are confidently going ahead with the use of carbon-fibre composites. These, say those using them in their products – from windmill blades to railway bodies to rocket components – comfortably outsmart all other materials thanks to their high chemical resistance, tensile strength and stiffness as well as low thermal expansion. It is no wonder that Shekhar Sardessai, chairman & managing director of the Goa-based joint venture Kineco Kaman Composites, is over the moon with a new order from ISRO’s Vikram Sarabhai Space Centre (VSSC) for crew orbiter module adaptor assemblies (OMAs) for the country’s maiden first manned space flight, Gaganyaan. The contract for these was signed just after the successful supply of a composite equipment bay shroud to VSSC for the geosynchronous satellite launch vehicle (GSLV) Mk-III as well as several other space and aerospace programmes. The OMA, a conical carbon fibre reinforced plastic structure integrated with metallic rings machined to tight tolerances, is a critical component of the GSLV, which acts as an adaptor between the crew escape module and the escape bay shroud. “We will definitely meet the stringent quality parameters and delivery timelines,” says Sardessai. The company will supply the first three assemblies by the end of 2023. After that, the sky is no longer a limit!
International travellers flying in and out of Trivandrum Airport in Kerala were deprived of duty free shopping for the last four years. With Adani Group taking over the airport in October 2021, things have changed for the better. The Customs authorities had shut down the duty free shop at the airport on the grounds of illegal sale of alcohol to the tune of Rs 6 crore. The allegation was that the then Malaysia-based operator, Max Plus, was diverting foreign liquor meant for sale at the airport to the black market. Max Plus was using travel documents of passengers passing through Trivandrum without their consent for the illegal sale. Even after four years, the Customs Authorities and the then operator, Airport Authority of India (AAI), were least bothered to hasten the investigation and reopen the duty free shop. Adani on the other hand meant business. After all, the group paid Rs 476.10 crore to earn the right to operate Trivandrum Airport. They immediately got the Customs NOC to reopen the duty free shop with a new partner, the Dubai-based Flemingo. In fact, Flemingo also operates the duty free shop at Colombo’s Bandaranaike International Airport. With the footfalls expected to increase manifold, the Adanis are out to make a handsome packet. Incidentally, Adani is also the operator of the Vizhinjam sea port at Trivandrum.
The news that Lakshmi Kaul, Head & Representative, Confederation Of Indian Industry, UK has moved out caught everyone in London by surprise. Nobody knows where Kaul is headed. Unlike her predecessor Suchita Sonalika who moved to the USA in 2018 to head the CII office in Washington, sources say it is unlikely that Lakshmi will stay within the CII. While Lakshmi was in New Delhi last week, CII’s senior director in Delhi, Kavita Choudhry flew to London to hold the fort till a new successor is found. Kavita who has worked with CII for over a decade was responsible for the Europe sector for over four years as well as the South East Asian corridor. Though Kavita is capable and has rich experience, the sudden departure of Lakshmi has perplexed trade, business and media especially at a crucial time when negotiations related to the Free Trade Agreement are in full swing. CII plays a stellar role in the UK as a powerful trade organisation representing Indian business interests. Lakshmi’s warm demeanor and social engagements have proved very valuable to CII over the years. Lakshmi who worked for over 15 years in the UK handled a whole gamut of things ranging from relationship building, public relations, research, strategy and policy work to creating community networks. Lakshmi will definitely be missed.
Land is a touchy subject. Not surprisingly, any land deal in this part of the world draws more than cursory interest across the canvass. This time it belongs to the venerable Theosophical Society in Chennai. This institution at Besant Nagar in the heart of the city of Chennai has now penned a pact with an equally well-known name – Shiv Nadar Foundation. The society has decided to give the foundation 14 acres of its land on a long-lease basis to the Shiv Nadar Foundation. The Shiv Nadar Foundation is planning to set up a world-class K-12 school in Chennai, which, it claims, will be a progressive, ecologically-sensitive school with the highest international standards. Shiv Nadar Foundation is India’s leading philanthropic initiative by Shiv Nadar, founder of the HCL Group. It has established a chain of not-for-profit progressive schools in the National Capital Region (NCR) of Delhi. Today, these are among the most sought-after educational institutions in the area, and are consistently ranked among the top schools in the country. With their novel pedagogical approach, Shiv Nadar School nurtures young children into life-long learners and conscious citizens. The Society-Foundation alliance comes years after its lease pact with J Krishnamurthy Foundation-run school expired. In a state where anti-anything sentiment sprouts up at the drop of a hat, the society-foundation agreement has also come under intense focus.
India has experienced the full gamut of sentiments concerning the cow — from cow worship, cow vigilantism, to riots to protest beef eating and intolerance to use of leather products. Against this backdrop, a new chapter has just opened up. For the first time a whopping 192 metric tonnes of indigenous cow dung has been exported to Kuwait by the Jaipur-based Sunrise Agriland Development & Research. The company’s director Prashant Chaturvedi is elated that even Islamic countrIes like Kuwait understand the nutrient value of cow dung. Atul Gupta, President of the Organic Farmer Producer Association of India is gung ho about the potential for organic fertilisers, especially cow dung. Reportedly, in 2020-21, the export value of natural fertilisers was Rs 27,155 crore. According to Kashmir Digest, “Many countries have found after research on indigenous cow dung that it can, not only increase the production of crops, but the use of the products produced from it can relieve humans from serious ailment. This is the reason that many countries have started importing indigenous cow dung along with organic manure from India.” Kuwait has singled out cow dung as an appropriate fertiliser nutrient for increased Date size and yield. This move has made Goshalas in India optimistic which had all along claimed that dung was the best organic fertiliser for healthy agri-products. Holy Cow, dung in demand!
While India’s Ministry of New & Renewable Energy has set a target of 100 GW for wind energy by 2030, it is also understood that the government is proposing two pilot research projects for sea-based windmills, one each in Tamil Nadu and Gujarat. These initiatives, according to alternative energy experts, should result in reduction in the oil import bill. Prominent wind evangelist Senator Dr PKC Bose, for one, was gung-ho about World Wind Day (June 15). “Let’s enjoy the natural therapy of wind,” says Bose, who is Vice Chairman & Managing Director of the German Enercon Group’s Indian subsidiary Enercon Windenergy. Kochi-based boat builder Dr Jeevan Sudhakaran, CMD of Samudra Shipyard in Kochi said,“The sail harnessed it first and continues to do so”, and then told Bose “You are electrifying it without a carbon footprint!” Wind is surely slated to play a large part in the future of energy, with people like John Burroughs, American naturalist and nature essayist of the 19th and 20th centuries, having declared: “The fuel in the Earth will be exhausted in a thousand or more years, and it’s mineral wealth, but man will find substitutes for these in the winds, the waves, the Sun’s heat, and so on and so forth.”
The going has been tough for this one right from the word go. This one came to Tamil Nadu after two States – Maharashtra and Goa – spurned it. Finally, it found sanctuary in the Dravidian state. And, the Sterlite Copper smelter plant at Thoothukudi had run freely for over two decades under the dispensation of AIADMK and DMK – the warring political parties in Tamil Nadu. Problem began when it went in for expansion. A protest followed. Not just that. A police firing on the anti-Sterlite protesters saw 13 people killed. A panicked government ordered the immediate closure of the plant. Well, this has caught everybody in an inextricable position. Many jobs have disappeared and thousands of crores lost in the process. And, India slipped from its pre-eminent position in the global copperfield. Virtually caught in a cobweb, Anil Agarwal, promoter of Sterlite Copper has now chosen to sell the immobilised plant. The move has taken everybody off guard. Is it a positioning strategy? Or, is it a business decision? With Ford exiting India, the proverbial sword hangs over the heads of workmen at its Maraimalai Nagar plant in Tamil Nadu? Coming as it does in the wake of Agnipath imbroglio, the Sterlite Copper sale move has surprised everybody alike, including the authorities. Well, it is yet unclear how Sterlite wants to go about selling its assets in Tamil Nadu.
Aerospace engineer M Premkumar who works for Honeywell Aerospace in Bengaluru has turned a Pomologist, a specialist in fruit culture. Call it serendipity. While travelling through rural areas of Karnataka he came across an unusual red variety of Jackfruit which was succulent and dripping with sweetness. Immediately he fell in love with this fruit and felt it should be grown in his village in Tamil Nadu’s Ranipettai district. He zeroed in on some 30 of these exotic red varieties and set up a model red Jackfruit breeding farm and raised 1500 saplings, and sold it for Rs 250 per sapling. Says Premkumar “These saplings need care for three years, and then they can live up to more than 50 years yielding soft fleshy fruits which don’t spoil for up to five days.“ The ordinary jackfruit yields just 20% of its weight as edible fruit, while the red variety yields up to 65% per kg. This makes the red variety hugely attractive in terms of investment as 1 acre can accommodate 70 saplings. Unripe Jackfruit is already in big demand globally, as it tastes like shredded chicken, pulled pork and is considered a boon for vegans. Premkumar is trying to develop uniform varieties for creating a market under the National Horticulture Mission. To connect Jackfruit farmers world over he has started a WhatsApp group that exchanges ideas for this fruit.
There was a time when a contractor would give an arm and a leg to win a big government tender. Not anymore. According to ministry mandarins, many contractors who bagged major contracts are doing their utmost to get blacklisted to avoid executing the tenders, and escape severe penalties for failing to meet the project execution milestones. According to a highly placed PSU source, many of the contractors had bagged the contracts in 2020, when steel prices were in the range of Rs 37,000 per tonne. The contractors, as is the norm, would have factored in a 15-20% hike in steel prices. In reality steel prices doubled to Rs 72,500 in March 2022 before falling to around Rs 60,000 per tonne in April 2022 “There is no way the contractors can execute projects at these prices; it’s totally unviable. But given the stringent penalties for failing to meet tender conditions, the only hope for contractors to escape the penalties is to get blacklisted on some count or the other,’’ said a source. If a large number of contractors get blacklisted it will be a big setback for all public sector undertakings. With the government chalking up a CAPEX of Rs 7.5 lakh crore in 2022-23, it will be a lose-lose proposition for everybody. So, should public sector undertakings go in for re-tendering the contracts?
A new bee on the job horizon goes by the exotic name of Gig business. Many big companies including Tatas, Infosys, Britannia, Wipro, Ola, Fresh to Home etc are looking to the gig economy to cut costs and access talent across locations. There are now quite a few popular gig worker platforms like Awign and Taskmo. Gig is a slang term used for a single professional engagement usually for a short duration. Some of the examples are freelancers, independent contractors, project-based workers and temporary or part-time hires. The huge interest has seen Awign’s top line and bottomline grow 10- fold, according to Annanya Sarthak and Gurpreet Singh, the founders. In the last one and half years, the business profile of its customers changed to large enterprises — either Rs 1000 crore brick and mortar enterprises or scaled up growth companies like Swiggy, Ola, Byju’s etc which have grown into large enterprises. Another company, Taskmo, is also seeing its business grow. Taskmo has added 430-450 new task listings. At least 20% of them were as per specific customer requirements. This is a new trend with momentum picking up as companies look at flexi-hiring to rationalise talent acquisition, says Prashant Janadri, Taskmo promoter.
A huge amount outstanding in bad loans which they will have to write off because they can never recover the money is seeing Indian public-sector banks (PSBs) winding up their operations in Hong Kong. The city state, unlike back home in India, has strict laws about bad loans in bank’s books. Many of these PSBs, perhaps, were pressured to open branches for political and not commercial reasons. These allowed businessmen to get easy loans, allegedly for a fee, and these borrowers then declared huge losses and, eventually, bankruptcy – obviously leaving the lenders in the lurch. Says a local banker: “Even today, there are too many Indian banks here and none making money!” While there is an uproar in Parliament if banks write off loans, HK laws say that bad loans must be written off if they are not collectible. “Bahut chor hain – and banks are bakras!” he adds. “It is good that finally, this government is closing down banks which are not profitable.” The Union Bank of India has already transferred its client accounts to its Singapore and Australian branches and is on the threshold of winding up in HK totally. There are three more in the process of winding up in HK. Eventually, State Bank of India will probably be the only PSB left there.
The high attrition levels in the IT industry is turning into a big headache for corporates. Big IT companies like Cognizant, Infosys, TCS, Capgemini, Wipro are witnessing an exodus of employees with five years of experience or more. The reason is amply clear, as salaries have jumped up after the long Covid break. Cognizant saw attrition levels of 40%, Infosys @ 25% and TCS @ 15% to name just a few. Earlier, someone with five years of experience earned Rs 24-25 lakh per annum. Now the salaries for the same level and experience net an employee Rs 30-38 lakh per annum. It is not clear if the same is happening for higher level jobs in IT companies but, this is good news for engineering graduates. The IT sector has been a mass recruiter for some years now contributing to 5% of the Indian GDP. But it was saturating with only good skilled IT engineers in demand. All this was before the Covid-19 pandemic. The U.S. produces around one lakh engineers per year in a $ 16 trillion economy. And India produces 15 lakh engineers in a $ 2 trillion economy. With manufacturing, electrical and civil taking a back seat as employment generators, it was the IT sector that has been the saving grace for some time now.
CSK is Dhoni and Dhoni is CSK. This is often reiterated by N Srinivasan, the owner of the Chennai franchisee of the IPL team. To be sure, Dhoni and Chennai have become inseparable. Not surprisingly, Dhoni has often said his last game in the highly popular Indian Premier League would be in his adopted home city of Chennai. His affinity to Chennai is all too apparent. And, his propensity to think out-of-the-box is legendary. It is no wonder that people across the spectrum view him a strategist par excellence. How else could one decipher his investment in the Chennai-based Garuda Aerospace, which is a DaaS (drone-as-a-service) provider. If highly-placed sources are to go by, the former Indian cricket captain has invested close to Rs 10 crore into Garuda Aerospace. Garuda has also signed up the World Cup winning captain as its brand ambassador. This is expected to fetch MSD Rs 5 crore. Besides bringing in Rs 5 crore, captain cool will be investing this fee also into Garuda. This makes his total investment into the Chennai-based company at Rs 10 crore. The investment of Dhoni is part of the bridge round, ahead of Garuda’s $30 million Series A round. He may have quit international cricket. Yet, Captain Dhoni remains a formidable brand to reckon with.
Every region in the UK is actively pursuing collaborations and tie-ups with Indian organisations. Recently, the University College Birmingham (UCB) entered into a tie-up with a range of academic institutions and organisations in India as part of a continuing drive to boost skills development in India. Bharat Sakhuja, Associate Director of the University’s International department and Alice Wilby, Pro Vice-Chancellor (Access, Participation and Student Experience) at University College Birmingham from the University were in India recently to meet Dr Sangeet Jaura, Pro Vice-Chancellor of Chitkara University, Professor Tabrez Ahmad, Vice-Chancellor of GD Goenka University, Dr Manju Gupta, Dean Academics at IMS Noida, Ved Mani Tiwari, Chief Operating Officer of the NSDC. The duo told shortpost.in, “The new linkups will offer a wide range of potential benefits and opportunities covering key areas including student mobility and up-skilling, progression arrangements, teacher training and cooperation, as well as collaborating in joint conferences and seminars.” They also shared that discussions were held towards creating more opportunities for Indian students to attend short courses in the UK. Collaboration between these Indian institutions and UCB will allow effective mobility of students between the institutions and enable them to consider integrated pathways which would be beneficial not only for students but for the academics in raising the level of teaching.
For decades, Asian Paints has led the pack in the Rs 60,000-crore plus paint industry. But with Grasim Industries, part of the Aditya Birla Group setting its sights higher, the competition will intensify. Grasim has chalked up a Rs 5000-crore investment plan in the decorative segment which is growing at 11% per annum. This announcement by Grasim which has heft and gravitas to disrupt the market made competitors like Asian Paints, Berger Paints, Kansai Nerolac and Akzo Nobel sit up and take notice. Grasim’s foray into the segment will be backed by their existing leadership in cement, white cement and putty business. Paint is a high growth market and the pie is large enough for everyone to share, industry observers say. There is no denying that leaders like Asian Paints will not find the going easy anymore. Sajjan Jindal group’s JSW has also entered the space, so cut-throat competition is bound to see ad spends growing with margins coming under pressure. In fact, Asian Paints read the writing on the wall and made public that it was looking beyond paints. Recently, the company picked up 49% stake in White Teak Company selling lighting and fans and will increase its stake based on the response. Time will tell which company remains in the black and which moves into the red.
This IAS class of officials possesses the uncanny ability to stay relevant all the time. They don’t just disappear into the sunset after superannuation but, simply don a new avatar. Their utility never dissipates and, their experience in government simply can’t be brushed aside. Probably, they are capable of bringing to the table an entirely new perspective. It is no wonder then that two leading industrial groups of Chennai have drafted ex-IAS officers as chairmen for their enterprises. Sundaram-Clayton Limited (SCL) has appointed R Gopalan, a bureaucrat who served Tamil Nadu as well as the Centre, as its chairman and, another Chennai-based company Ramco Cements followed suit onboarding MF Farooqui, a retired IAS officer to the same post. Of course, both Gopalan and Farooqui have served on the boards of SCL and Ramco Cements respectively for a while now. But their elevation to the top slot in the organisations has forced many long-time watchers of these family enterprises to sit up and take notice. This is the first time that these industrial conglomerates in Chennai have adopted such a course. Larger benefit of having experienced bureaucrats as chairmen notwithstanding, the move is also seen as a step towards splitting the CMD post. At least in these two instances, it appears to be a case of striking two mangoes with one stone!
ICICI Bank’s blue-eyed boy Anup Ratnaparkhi, who currently heads Branch Banking and NRI operations in the UK, has put in his papers. Thirty-nine-year-old Anup, who had a 14-year long stint, is joining the London-based Ribbon Plc as Chief Commercial Officer. This venture has been promoted by his former ICICI boss Asesh Jani. It is an AI powered technology company that promises to offer a hyper-personalised digital experience to users. Ribbon is loaded with features including an embedded payments marketplace, access to deposits, FX, Crypto & Equity trading platforms. It was Asesh who had spotted Anup’s talent in ICICI and moved him up from Hyderabad to London. The scene at the State Bank of India, UK is no different. Most professionals posted here from India are currently in a flux. Most of the senior staffers who were transferred out of India have completed their term and will now return to India. This includes SBI UK head Sharad Chandak, ED Sanjay Pandey and COO Anurag Joshi. Elsewhere too, it seems to be the season of retirements or transfers. Gayatri Issar Kumar, the Indian High Commissioner in UK is into farewell party mode as she retires in September. Meanwhile, Rohit Vadhwana (IFS) who is First Secretary for Investment & Trade and also handles the Press portfolio, has been posted to Kenya.
A decade ago, he was told that he couldn’t head an incubator company being set up by Microsoft because he had no start-up experience. James Joseph, a 25-year tech veteran, took a year’s sabbatical to write a book – which was when he saw his future growing outside his study window in Kerala: a jackfruit tree. The idea that hit him fructified further when he met a diabetic parish priest, who told Joseph that raw jackfruit had brought his sugar down. He researched it, and came up with Jackfruit365, a flour made with green jackfruit. “This is a diet supplement for diabetics and has beneficial effects when used as a replacement for an equal volume of rice or atta,“ he says. “But it should not be compared with medicine.” Along the way, he won the 2020 National Start-up Award for Food Processing and found another supporter: Infosys co-founder and billionaire businessman Kris Gopalakrishnan, who has provided his start-up with the all-important corporate connect. “CII, especially Kris, wants more members to use Jackfruit365 as an example to foster more such partnerships,” he says. Why? “I am an admirer of James and his entrepreneurship,” Gopalakrishnan explains. “So I talk to my industry colleagues and government officials about the product and how James has established the benefits of using it. He alone is responsible for jackfruit becoming the state fruit of Kerala.”
The Multi Commodity Exchange of India (MCX) has signed an MoU, to provide technical support for Bangladesh’s first commodity exchange. The Chittagong Stock Exchange has decided to launch Bangladesh’s first commodities exchange, on futures markets next year and roped in MCX to draw up the regulations and bye-laws, the settlement methods, besides providing tech and infrastructure support for the new exchange. MCX which is working on a five-year plan is scouting for talent to manage and work on the project. The new exchange is expected to provide competitive pricing and rationalise price manipulations in the commodities sector in that country. The exchange is also expected to provide farmers with greater liquidity. The exchange is expected to trade in gold, tea, agricultural produce, iron ore etc. MCX, India’s first listed exchange, is a commodity derivatives exchange that facilitates online trading of commodity derivatives transactions, thereby providing a platform for price discovery and risk management. The Exchange, which started operations in November 2003, operates under the regulatory framework of the Securities and Exchange Board of India (SEBI). MCX offers trading in commodity derivative contracts across varied segments including bullion, industrial metals, energy and agricultural commodities, as also on indices constituted from these contracts. It is India’s first Exchange to offer commodity options contracts, bullion index futures and base metals index futures contracts.
Chennai is set to soar high. The old man on Mount Road, the 13-storey LIC Building, for long the only noticeably tall landmark in an otherwise vertically challenged city used to growing sideways rather than upwards, will soon get company. A 25-storey tower block of offices is coming up on the old TVS plot. Whether vertical growth is defined as progress would depend on the point of view. But, with a change in government, came a significant FSI change – from 3.5 to 5. You can think what you will of how such changes come about, the most obvious being the use of financial clout by the builders’ lobby. The fact is the Brigade group of Bangalore, with its political connections and heft, will be the first to take advantage of the higher FSI with a landmark building that will dwarf the nearby LIC structure, old Chennai citizens described using the Tamil phrase – Heightu da! A lot of changes are also on the cards for what used to be the centre of the city’s business district, with many old firms likely to sell out to builders in the CBD. TVS’ R Dinesh, who inherited the old HQ of the reputed TVS group on Mount Road along with the Honda dealership, was the first to cash in on the new FSI.
Chief Minister Naveen Patnaik’s new dream is to make Odisha India’s aluminium capital and the global aluminium hub. Not without reason too. The state enjoys the true boast of 54% of the aluminium smelting capacity through NALCO, Vedanta and Aditya Birla manufacturing units in India. Of course, this is backed by the state’s rich reserve of 2 billion tonnes of bauxite. NALCO has already chalked out an investment outlay of Rs 30,000 crore towards expansion and diversification to be completed by 2027-28. It has also entered into a JV with the state-owned Industrial Development Corporation to set up a state-of-the-art Aluminium Park in Anugul costing Rs 428.95 crore, estimated completion by 2023-24. The Aluminium Park located next to NALCO’s plant will promote downstream aluminium industries with common facilities including logistics, testing, simulation, prototype development and skill development facilities. Joining the chorus is Anil Agarwal of the Vedanta Group that is also planning a Rs 10,000 crore investment to set up an Aluminium Park at Jharsuguda in Odisha to bring in SMEs and MSMEs under one single roof so they can procure the hot metal from Vedanta. With Patnaik transforming the state, Odisha has emerged as the new investment destination of India.
The Rs 5,138-crore HLL Lifecare (formerly Hindustan Latex) headquartered in Thiruvananthapuram, Kerala is attracting many suitors. This follows the Government of India’s November 14, 2021 decision to hive off its entire stake in HLL Lifecare. Around seven suitors including the Adani Group, Piramal Healthcare, two Kerala based companies advised by two former CMDs of HLL Lifecare, a fund besides NRIs. HLL Lifecare, which started as a condom manufacturer sold under the brand name Moods, is today a health care company in the truest sense. It has a Pharma business, makes medical devices, runs diagnostic centres, manufactures sanitary napkins and blood bags etc. The company has seven factories, four in Kerala and one each in Belgaum, Manesar and Indore. Today the company operates 220 pathology labs, 47 imagery centres, six labs under the Hindlabs brand and 253 pharmacies across India. Both Adani and Piramal are keen to acquire it. The cash strapped Kerala government, however, could play spoilsport since it wants to take over the company although its offer was declined. The company’s turnover jumped three times from Rs 1739 crore in 2019-2020 to Rs 5138 crore, the profit marginally lower than the previous year. The jump in turnover was a result of enhanced non-core activities including huge purchases and supplies of Covid vaccines, surgical masks and gloves for various State Governments and hospitals.
Saraswat Brahmin entrepreneurs from across the globe will converge in Goa come September 10, for the first Annual Conclave. The Saraswat Brahmin community of business leaders from different parts of the world joined hands and formed the Global Saraswat Entrepreneurs Chamber (GSEC) in 2019, resurrecting the nearly 30-year-old Saraswat Chamber of Commerce set up by Suresh Prabhu, senior BJP leader and former chairman of the Saraswat Cooperative Bank. This one-day conference is expected to draw some of the biggest names from the community including, Bharat Ratna Sachin Tendulkar, singer activist Hemaa Sardesai, hoteliers Vithal Kamat (Kamat Hotels Group), Raghunandan Kamath (Natural Ice Creams) and Marathi actor Ashok Saraf to name just a few. The underlying objective of the conclave “to build a wise, vibrant and prosperous community ecosystem for Saraswats in business and profession,” says Siddharth Sinkar, founder director of GCSE. The Saraswat community is primarily known as an ethical and philanthropic segment of society that channelised and harnessed cumulative energies for collective excellence in society. In the fields of business and commerce the community has been a frontrunner in the banking and cooperatives sectors.
Looks like Tesla may not roll out its EV in India anytime soon. Sources say Tesla recently transferred some key officials out of India to alternate global markets in APEC, Middle East and the USA. This indicates that Elon Musk, who was keen on the Indian market, has decided to move on for the time being. Indianconsumers will buy what’s produced in India by Tata Motors, Mahindra, Morris Garage, Hyundai and Maruti presently. Primarily, Tesla chose not to enter the Indian market because of Indian government policies. Given our relationship with China and Modi’s push for Make in India, the BJP government was averse to allow made in China Tesla cars, boosting Chinese employment, but marketed in India without an immediate commitment to manufacture in India? There are several reasons Musk may have put India on the back burner. Firstly, current EV sales touch barely 1% of total auto sales in the country which does not make economic sense for Tesla to set up a unit in India. Secondly, with 100% import duty, Tesla will become over priced in the Indian market. Thirdly, India is not yet ready with its infrastructure, including road worthiness and charging stations. And, fourth reason is Indian insistence on a long term manufacturing commitment, distinct from being considered like a test pilot case.
It is no thanks to the National Green Tribunal’s (NGT’s) vigilance that both, the private sector and government-owned companies brazenly breach environmental laws and, very happily pay the prescribed fines. The reality is that the importance of environmental conservation is not given its due consideration with the NGT mandated penalty system not a functional and practical deterrent. Observers say, tougher measures are needed for the private sector and government-owned companies like NTPC, Indian Oil, BPCL, Singareni Collieries and others that boast of a track record of repeat environmental violations. Without the government’s continued commitment, NGT cannot deliver results by itself and, sadly, tough government intervention is only seen in the wake of intense public pressure. Take the case of the Vedanta Group which had to shut down its Thoothukudi plant, over Sterlite’s pollution issue. No lessons appear to have been learnt from it. Recently, NGT fined Vedanta Rs 25 crore for the expansion of the Lanjigarh factory in Odisha without due EC clearances and also levied a Rs 25 crore penalty upon Hindustan Zinc for violating environment norms in Rajasthan. Sometime in 2017, Vedanta was asked by the Chhatisgarh government to shut down its 1200 mw Balco power plant for violations of environmental norms. Harsh measures yielded results and today, Balco’s power plant is one of the best energy conservation units in the country.
Pankaj Munjal of Hero Cycle’s fame has ambitiously big plans to strengthen the company’s presence in overseas markets, particularly across Europe. His company Insync Bikes Ltd has geared up to manufacture top end e-bikes at Trafford in the United Kingdom. Munjal, who visited UK to unveil his plans, told shortpost.in, “Manchester has given us more than what we had expected or planned.’’ The immediate future plan involves development as part of the budgeted £150m group-wide investment. His Manchester-based Global Design Centre has innovated an e-bike with artificial Intelligence functions that will incorporate advanced technologies such as Google services integration and introduce anti-theft systems and advanced telematics. Approximately 300 e-bikes will be manufactured every month at Trafford and priced at £3000 per piece. These e-bikes are expected to hit the road by August-September of 2022. The company received an award for being a Fast Track Indian company in the UK from among 900 companies surveyed by Grant Thornton in its India Meets Britain tracker report. Despite difficult conditions in the UK and Europe, Insync Bikes ranked 7th on the growth rate parameter. If the Indian experience is an indication, it will be among the top four players, sooner than later
The South Side Story is always exciting. Family enterprises are a dime a dozen in this part of India. Some of them, especially in Tamil Nadu, are iconic names. These two industrial groups are definitely a name to reckon with, and they are trend setters in many ways. The TVS group, for instance. This venerable industrial house – comprising four families – has recently chosen to go their separate ways legally. With families expanding through fresh generational additions, the TVS group has done a remarkable job of succession planning. Now that they have separated legally, each family within the larger TVS tree has unhindered leeway to chart out their own individual paths. The Murugappa group, too, is another reputed name. It was the first to hit upon the idea of a group corporate board many summers ago, to delink the family from the management of their various enterprises. The Sanmar group under the late N Sankar took a cue from them. It was, however, a different matter that Murugappa junked the group corporate board a while ago. The Murugappa group, if grapevine is anything to go by, is now looking to emulate the TVS model of separation. Will the TVS model be the template for amicable resolution of succession planning in family businesses?
Is Elon Musk picking up a bias against Indians? It would appear so if emerging dramas follow an early trend in which the world’s richest man, out on a spree to buy his favourite toys, has had bones to pick with Vijaya Gadde, a lawyer of Indian origin, even as the status of Twitter’s CEO Parag Agrawal is under a cloud after the acquisition. Vijaya, top censorship advocate at Twitter had taken decisions to keep out contentious content in 2020 and she was fiercely defended by Twitterati after the Muck onslaught. As owner of the company, Musk will have the power to fire key individuals and Parag may be the a name on that purging list even if he had picked up a reputation as a top engineer who had helped transform Twitter’s developing projects, including letting algorithms guide moderation software. Musk’s ‘absolute free speech’ platform may be up for confrontations with India, which has been thin-skinned to the extent of being the country asking for the most tweets to be taken down. Musk’s ties to China with his Tesla electric cars, which are not being allowed free access if they are not made in India, might also put him on a collision course with India. His obsession with the number 420 places him in a piquant position with the number in India’s IPC that is to do with cheating and fraud.
The recent fire that destroyed 20 electric scooters manufactured by a firm in Nashik, Maharashtra, has set the cat among the pigeons in the electric vehicle (EV) industry, which has already got the jitters over several isolated instances of spontaneous combustion of EVs. Why and how does this happen, is the question in the minds of everybody? There’s a lot riding – literally – on electric two-wheelers, more than cars and three-wheelers even as sales in the segment have rocketed nearly 500% in just one year. According to the government’s VAHAN portal, 2021-22 saw the producers laughing all the way to the bank with well over a quarter million EVs sold, compared to mere 40,000 sales in 2020-21. Chetan Maini, Co-Founder & Vice Chairman at SUN Mobility, the pioneer in the EV world who created India’s first electric car REVA, gives a variety of possible reasons: “Such things can be caused by poor cell selection, defective cells, poor thermal management, manufacturing issues and poor charging management amongst others.” According to his fellow Bengalurite Amitabh Saran, Founder & CEO of Altigreen, which started off in 2013 creating EV technology and now manufactures electric three-wheelers, these products were “not engineered in or for India”. Whatever the cause, the hope that it can be controlled – and soon — is universal, with EV being widely seen as the future of mobility.
To make good the exit of South Korean steel major Posco, Odisha Chief Minister Naveen Patnaik has successfully roped in India’s leading integrated steel major JSW Steel, part of the $13 bn JSW Group headed by Sajjan Jindal. JSW’s wholly owned subsidiary JSW Utkal Steel is expected to set up 13.2 MTPA at an investment cost of Rs 65,000 crore in Jagatsinghpur district close to Paradeep port. The Odisha project dovetails with Jindal’s game plan of achieving 50 MT capacity. The JSW project has already received EC clearance and is getting ready to implement pre-project stage requirements including employment and livelihood creations. The Odisha government seems confident of handing over 2,950 acre land to JSW Steel this fiscal since most land parcels belong to the government anyway. Other small gap are being covered through collective persuasion, court support rejecting vested PILs and fair compensation for loss of betel-nut farm lands. Learning from the Posco experience, the Odisha government is not leaving any chances for slippages anywhere, by taking everyone on board through village meetings, addressing concerns with matched speed of action to deliver complete parcels of land to JSW this fiscal. If Naveen babu gets the project going Bhubaneswar could well emerge as the steel capital of India with other players like ArcelorMittal, JSPL and others also evincing interest.
One of Kerala’s iconic hotels, the Taj Malabar Resort & Spa in Kochi near Willingdon Island is up for grabs. Cochin Port owns the property built in 1936 and named after the first Viceroy of India, the 1st Earl of Willingdon and, has invited bids. The Taj group which has been managing the property since 1985, is now running it on extension after the expiry of its lease. Cochin Port has invited tenders for a pre-bid meeting for the Port-owned buildings (Malabar Hotel) for a period of 30 years. The last date for submitting the bid is May 6. The Taj group currently pays a lease rental of Rs 71 lakh per annum. Many contenders have lined up for this prestigious property including the likes of ITC Hotels, Oberoi Group and Kerala’s top business names like RP Group, Lulu Group etc. The Malabar Hotel offers stunning views of the Cochin Harbour and the Arabian Sea and can still remain with the Taj Group if they invoke the right of first refusal in the bidding process according to well-placed sources. The Tatas may still retain the property if they match the highest bidder. A spokesman for the Lulu Group denied being in the race and said that the Group was currently focused on only two properties: the Grand Hyatt at Bolgatthy and Marriott Hotel at Edapally.
Social media has become so powerful a communication tool these days and yet, not everybody understands the scale of its utility. None, however, can afford to ignore it. Not surprising, all and sundry have made it a point to be visible on the social media platform. Take the case of the Vedanta outfit. Mired in a local political slugfest and caught up in a legal bind, Thoothukudi-based Sterlite Copper, a unit of the Vedanta group, is stuck in a pincer-like situation, being hammered from all sides. How to fight this tricky situation? Well, a new Twitter handle was set up in January this year, created by Sterlite Support Federation, a non-government and non-profit organisation. The federation was formed ostensibly to bring all the pro-Sterlite people across the country to “fight for the cause, thereby giving jobs to thousands.” With over 400 followers, this appears to be a determined counter to the anti-Sterlite lobby that works relentlessly to derail any efforts to revive the Sterlite Copper plant in Tamil Nadu, ordered to close down by the previous AIADMK regime following police firing that resulted in 13 deaths. The firing was ordered to disperse the anti-Sterlite agitators in the vicinity of the plant a few years ago. Can the micro-blogging site help check-mate anti-Sterlite sentiment?
The Gujarat-based Adani group, with interests in every field that involves energy, has announced a massive expansion in its construction financing. So too the group company Adani Gas Ltd (AGL) with its city gas distribution and piped natural gas to the domestic, commercial, industrial and vehicle users in 15-plus distinct geographical areas. AGL, which is going great guns, also supplies compressed natural gas to the transport sector. Though a very small part of the Rs 20,000-crore group, the Ahmedabad-headquartered AGL is important to the business, thanks to its involvement in the daily lives of both employees and outside customers. The company changed its name to Adani Total Gas Ltd at the end of 2020, 15 years after it was incorporated, when French energy major Total took a stake of 37.4% – equal to its own, making it a joint-venture company. The remaining 25.2% is with public shareholders. “Passion, perseverance and self-belief enable you to overcome obstacles and deliver solutions that benefit the business and our consumers,” says Sandip Adani, Head, Techno Commercial, Adani Total Gas. Big brother Adani Green Energy is the world’s largest solar power developer and is in the process of completing the construction of its projects to meet its stated renewable energy capacity target of 45 GW in the next eight years.
The merger talk was in the air for years but, was put on the back burner over serious differences at the top. Finally, the merger between HDFC and HDFC Bank has happened. For the first time perhaps, a challenger of a fitting kind from the private sector appears to have arrived to counter the dominating State Bank of India. To that extent, the HDFC-HDFC Bank merger move is seen to herald a massive transformation in the Indian banking space. Will that edge the non-banking financial companies (NBFCs) out of the picture? Not really, say experts. For, there are plenty in India who are still either unserved or underserved. Why did it take a long while for the two to merge? People who matter know it but, none prefers to go on record for assorted reasons. Perhaps, the merger plan was waiting for the HDFC Bank’s founder-CEO Aditya Puri to serve out his term in October 2020. If sources are to go by, some 5-6 years back Deepak Parekh had mooted the idea of HDFC merging with HDFC Bank to create a big bank but Puri was disinclined. He wanted the two entities to operate separately. Perhaps, with his exit the whole plan was brought out from the cold storage. The merger has indeed reconfigured the banking turf in India.
The upcoming BMC elections will not be an ‘aam’ municipal referendum by any means. The BJP is determined to put all that it has at stake, to level scores with long-time friend-turned-foe, the Shiv Sena. The Sena is trying all the tricks of the trade to retain its Marathi Asmita and control over Aamchi Mumbai. The NCP is looking to expand its Mumbai base at the cost of senior partner Congress’ vote bank. The grand old party is also using all its might to stay relevant in the politics of the very city where it was born. Amidst all the scheming and planning that the city is silently witnessing, the AAP is using the grace period, by postponement of elections, to actively strengthen its organisation. AAP, the fourth largest party, has formed teams of devoted workers and volunteers in almost 100 wards. Its campaign will highlight the pathetic state of Mumbai’s roads, corruption in BMC and announce its plans for the health and education sectors. “We’ll fight to win and are getting tremendous support from Mumbaikars. People are really frustrated and fed up with these parties and their dirty politics. The only clean alternative they have is in AAP,” says Ruben Mascarenhas, the working president of AAP Mumbai. AAP is betting on youngsters and a majority of its candidates will be under 40 years old.
Is the new CEO of FedEx Raj Subramaniam just one more Indian CEO of an American corporation? This question elicited two divergent views, summed up aptly by Chidanand Rajghatta of Times Of India. One response is the blasé “Ho hum, another Indian”. The other: “What Indian? He is an American, who worked his way up.” Raj joins an exclusive club of over half a dozen PIOs who merited entry into the hall of fame thrown open by Google and Microsoft. Sundar Pichai and Satya Nadella are already part of the corporate power folklore. Other recent entrants include: IBM’s Arvind Krishna, Parag Agrawal of Twitter and Leela Nair of Chanel. Founder Fred Smith who spearheaded the FedEx operations for 50 years and saw its turnover touch $92 billion found that Raj, who has been with FedEx since 1991, was the ideal man to hand over the baton to. Thiruvananthapuram born Raj faces big challenges before him. E-Commerce has changed the whole ball game and, FedEx must enter this instant gratification, touch of a button business by changing its own avatar, from an Express Delivery Organization, hub & spoke, track & trace, but as part of that last mile delivery, the fulcrum of e-commerce. Clearly, Raj has to combine his experience at FedEx 1.0 and metamorphose into FedEx 2.0. Clearly Raj has a tall order to deliver.
A private-public partnership saw a plant come up at Thoothukudi in Tamil Nadu to produce ammonia and urea. In the 50 odd years of its existence, Southern Petrochemicals Industries Corporation (SPIC) has had a chequered history even as the A C Muthiah-piloted group became ambitious. Big investments in PFY and PTA (Spic Petro) and in a new fertilizer facility in Dubai saw money going down the sink. Things turned for the better post 2010 with a changeover at the helm. Now, Muthiah’s son Ashwin, who heads the company, has gone all out to ramp up capacity of ammonia and urea to almost global scales. To improve margins, it moved from naphtha to natural gas for its feedstock. For fund infusion, Ashwin roped in AM International of Singapore besides talking to lenders for debt restructuring. Result: Thoothukudi-based SPIC has turned around with its topline and bottom-line looking healthy. Unfortunately, another well run plant in Thoothukudi Sterlite Industries, part of the Vedanta Group had to shut shop over environmental issues. For the nine months ended December 2021, SPIC has turned in heart-warming results with a PAT of Rs 132 crore on the back of a topline of Rs 1,600 crore, both representing a big leap from the previous corresponding period. While things are certainly looking up for SPIC, the road ahead still sports many signs of caution!
Since winning the panchayat and urban body elections, Odisha Chief Minister Naveen Patnaik has been pulling out all the stops to kickstart Tata Steel’s Rs 5,000 crore Subarnarekha deep-sea all-weather port in Balasore district. He hopes to complete the project before the 2024 general election and, is moving quickly on the land acquisition front; with nearly 146 acres of land almost acquired. The state has already provided 700 acres of land for port construction near the Chaumukh seashore, Baliapal. However, for the construction of a new rail line from Amarda Road to the port at Chaumukh and widening of existing roads and creating new ones, it needs to acquire another 300 acres. According to Sudarshan Chakravarti, Collector & District Magistrate, Balasore “Of the 300 acres requirement of land 154 acres has already been acquired with the balance to be acquired soon.” Land acquisition may not be a problem as the government is paying a good compensation — three times more than the registered value. Tata’s project will have the first mover advantage over Adani Group which is setting up a green field port at Tajpur in West Bengal which is literally next door. When both ports become operational East India will emerge as the new regional maritime hub.
European hospitals say 80 % of Covid patients lose the sense of smell, not regaining that sensitivity even after recovery. When the sense of smell is gone, vital sensory cognition is lost too. The five crucial senses of cognition and life are now viewed in a new light, as marketers and manufacturers perceive newer horizons to tap, post pandemic. Aradhna Krishna, the Dwight F Benton Professor of Marketing at the Ross School of Business, University of Michigan cites the intricacies of our sensory reach that marketers are engaging with. Scents from the past and present possess a unique signature, sensory cues. “Smell is vital to our existence, essential for taste, even foretelling danger like smelling smoke or bad food.” The Harvard Business Review acknowledges her as “the foremost expert in the field of sensory marketing”. Her book, Customer Sense provides researched insight on how the five senses influence human buying behaviour. Her paper on Olfactory Imagery postulates that imagining/imaging odours affects human responses towards products. No wonder India with its cultural and gastronomic diversities is so amenable to marketing products that evoke a positive response. Now restaurants may simply market their signature Panneer Tikka or Kerala Chatti Meen Kuzhambu by opening a vent directly onto the streets and, the hungry will just follow the aroma trail for an actual taste of their drool worthy dish.
The Citi never sleeps. Citibank literally rode on this famous tag line for an increased mind share even as India was only just opening up to the world in the early 90s. The MNC bank left no stone unturned embarking on its aggressive business expansion. Somewhere along the line, however, the aggressive instinct for growth turned ugly and, Citibank went about issuing credit cards without any let or hindrance, to onboard lakhs of customers. Citibank had indeed re-laid the retail thrust in the Indian banking industry. Many in Indian industry did follow the Citi line but, somewhere along the way, Citi went overboard as an incident in the early 90s hit national headlines. In its zest to recover dues, its agents waylaid a top bureaucrat in the Central government on the Bombay-Pune Highway in a case of mistaken identity. The script went horribly wrong and Citi should have realised the `retail difficulty’ in India. It did slug it out for several seasons thereafter. Though it launched credit cards in India in 1987, Citi’s market share has slumped to 4% from 13% just a decade and, it has decided to sell its retail business to Axis Bank. After 119 years in India, Citi is restructuring and exiting the consumer banking business. Over the last few years was Citi out of sync in India?
TRENDS & VIEWS
Editor’s Note: Short Post Noticed By People Who Matter
Four years have zipped by and we are crossing another milestone on 31st January 2025 – it’s our 4th Anniversary. It feels good.
Looking back at the 1460 days, I must say Short Post has made its mark with people who matter via 4000 stories published in the areas of politics, business, entertainment and sports. All made possible by the unflinching commitment and dedication of our senior editors, most of whom have been part of this journey from Day One.
Small pack, big impact is in essence the story of Short Post which was launched at the height of the Covid-19 pandemic in 2021. It shows our conviction. In all humility, I can say, we have created a new niche in the news segment space like Hindustan Unilever which created a new segment, when it launched CloseUp Gel.
Yes, we have created a brand (in a limited sense), created demand (readers) and created supply (senior journalists). But we are facing teething problems like all start-ups. What makes us happy and confident is the recognition of our efforts. For instance, we have an arrangement with the OPEN Magazine, part of the $4.5 billion Kolkata-based Sanjiv Goenka-RPG Group. This arrangement sees around 10 Short Post stories posted on OPEN Magazine website every week. This arrangement is testimony that our content has been well received! Also, I may add that the Maharashtra government has recognised Short Post and has allowed our senior editor to cover the Assembly sessions. Ditto: Odisha.
Our goal is to ensure that Short Post becomes a habit. I would like people to keep checking their smartphones to know the latest Authentic Gossip. As regards AI and the fear of it disrupting all businesses including media. On that, personally, I have no such fear as I am confident AI cannot smell news particularly Authentic Gossip. That’s the place we are well entrenched.