Innholdsfortegnelse for 27 October 2024 i Business Today

Ratan Tata was many things to many people, depending on whom he came in contact with. A visionary business leader and bold entrepreneur who felt strongly about India and its growth ambition, the passing away of Ratan Naval Tata at the age of 86 has left a void in Indian business that will be almost impossible to fill. If there was one thing Ratan Tata embodied throughout his decades-long career, it was integrity. The world of business is often fraught with challenges and pitfalls, but Ratan Tata always conducted himself with utmost civility and kept ethics and integrity uppermost in his actions. In every sense, then, Ratan Tata was the perfect ambassador of the group he led, a storied conglomerate respected the world over for its ethics and values. As…

IN 2004, the board of Tata Steel convened at the group’s iconic Bombay House headquarters for what seemed like a regular meeting. It was soon after the buyout of Singapore’s NatSteel and was viewed as an important step in the company’s journey of going global. But one person did not seem too pleased: Ratan Naval Tata (RNT), Chairman of Tata Sons. “Why are we making these small acquisitions?” he asked about a deal worth a sizeable $285 million. It was a clear indication that RNT desired to make the company a global force to reckon with. “Let’s do something bigger,” he said then. Three years later, it became clear just what RNT meant. Tata Steel acquired Corus, which was four times its size, for a whopping $12 billion after an…

Noel Tata, the 67-year-old half-brother of Ratan Tata, has been chosen to lead Tata Trusts. He was elected Chairman of the trusts that control a majority stake in Tata Sons, the holding company of the group. N. Chandrasekaran will continue to lead as the Chairman of Tata Sons, a role he has held since 2017. After an amendment to the Articles of Association of Tata Sons in 2022, no single person can head both Tata Sons and Tata Trusts. Noel Tata is currently the Chairman of Tata International Ltd, and has been part of the Tata group for over four decades. He serves on the boards of various group companies, including as Chairman of Trent, Voltas, and Tata Investment Corporation, and as Vice Chairman of Tata Steel and Titan Company…

INDIA EMBARKED ON its electric vehicles (EV) journey more than two decades ago. However, the trend gained momentum only after Tata Motors plugged into the market with its Nexon.ev in December 2019. Since then, sales of four-wheeler EVs have been averaging around 7,000 units a month. And sales of electric two-wheelers have been comfortably hitting the 75,000-mark each month. Most of the EVs sold over the past four years came with battery guarantees. Tata Motors and Ola Electric, both industry leaders, offer replacement warranties of eight years or 80,000 km, whichever occurs first. For many customers, EV batteries will become depleted in the next few years, and have to be changed. Replacing a battery will be an expensive affair as a considerable part of the overall cost of an EV is…

THE BATTLEFIELD ▸ The dominance of first movers Tata Motors and JSW MG Motor India is at risk as other legacy players Maruti Suzuki India, M&M and Hyundai prepare to launch EV models in India beginning January next year COMPLETE EV ECOSYSTEM ▸ Maruti Suzuki India, the country’s largest automaker, is poised to launch its first EV next year while concentrating on addressing customer concerns and developing the complete EV ecosystem TECH FORCE ▸ M&M’s partnership with Škoda Auto Volkswagen India for EV components and technology will provide it with a competitive edge in technology and exports BATTERY POWER ▸ JSW MG Motor India is focussed on introducing new energy vehicles, primarily EVs, to the Indian market with its Battery-as-a-Service (BaaS) model FIRST & FOREMOST ▸ Tata Motors is leaving…

1 After the successful joint venture with JSW Group, MG is set to expand manufacturing, distribution, and portfolio 2 MG is readying to unfold its ₹5,000-crore capex plan that includes setting up a second India plant in Halol, Gujarat 3 By 2028, it aims to expand production capacity to 250,000-300,000 units a year; to start sourcing EV batteries locally 4 Target is to raise sales close to 300,000 units a year by 2028 with 85% of portfolio comprising of EVs 5 Localisation of connected cars tech and emerging as the market leader in EVs with 33% share by 2030 is on the cards…

Dr L H Hiranandani Hospital has been built in honor of the Chairman - Padmabhushan Dr LH Hiranandani. 244 beds hospital was commissioned on February 22, 2004 The major Specialties include Medicine, Surgery, Obstetrics & Gynecology, ENT, Ophthalmology Pediatrics, Dentistry, Anesthesiology. In each of the major specialties there are subspecialties. To illustrate, the Department of Medicine is supported by Medical Oncology, Non-invasive and Invasive Cardiology, Endocrinology, Gastro-Enterology, Psychiatry, Dermatology, Pulmonology, Neurology, Nephrology, Rheumatology, Immunology and Gerontology. All the other major specialties are similarly supported by subspecialties. The hospital has state-of-the-art facilities in different areas in surgery like Cardio Thoracic Surgery, Reconstructive Surgery, Oncology (Including Radiation Oncology and Bone Marrow Transplant, Orthopedics, Urology and Urodynamics, Obstetrics, Pediatric Surgery, Gynecology (Gynecological & Obstetric facilities include high risk pregnancy care, micro vascular surgery…

DEFINE YOUR GOALS: Identify your goals for your legacy, whether it involves ensuring financial stability for your loved ones, contributing to charitable initiatives, or making a meaningful difference DIVERSIFICATION: Investing in property will broaden your asset base whereas investing in MFs will allow diversification within a single investment; consider both for your legacy RISK AND RETURN: MFs offer higher returns, albeit with increased risk; in contrast, property tends to carry lower risk and offers lower returns, but it can also generate rental income LIQUIDITY: Property is not as liquid as MFs; it takes longer to sell property; the location is of critical importance for the property TAILORING YOUR LEGACY: Your legacy is a reflection of your values. Tailor your investments to align with your goals…

IN THE WHIRLWIND world of business, where boardrooms and deadlines reign supreme, discovering solace in a creative outlet transcends luxury—it becomes a necessity. For 44-year-old Darpan Sanghvi, Group Founder & CEO of The Good Glamm Group, that outlet is cooking. What started as a pastime during the pandemic has evolved into a passion, offering him relaxation and a way to connect with his family. For Sanghvi, cooking is much more than just preparing a meal; it’s a reflection of his leadership style, his outlook on life, and his approach to balancing the demands of entrepreneurship. But more than anything else, it is therapeutic. COOKING AS THERAPY Sanghvi’s love affair with cooking began during the Covid-19 lockdown, a time when many found themselves exploring new hobbies. “During Covid, I started cooking…

SOURCE PRABHUDAS LILLADHER, CAIT, WORLD GOLD COUNCIL ₹4.25 LAKH CRORE Expected expenditure from 3.5 million weddings from November to mid-December 2024 $130 BILLION Annual spending on weddings; $12.1 billion is spent by Indians on destination weddings abroad 140 TONNES Gold imported ahead of the wedding season, which more than tripled in August from July, after a reduction on customs duty from 15% to 6%…

RAHUL KANWAL: The opposition says that the first 100 days of the Modi 3.0 government have been marked by U-turns. Your response? A: One thing that Prime Minister [Narendra Modi] has consistently followed… is that he’s a leader who listens. He’s a leader who’s responsive to the needs of the times and the needs of the people. He has never shied away from being willing to change track but has always remained on the course to do what is best for the country. I don’t think there has been any U-turn. If at all we allowed both options [for capital gains]—the indexation and long-term capital gains and the new simplified version of capital gains. It’s only a reflection of a listening government that felt that nobody should be disadvantaged because…

Do subsidies help the adoption of EVs? The consensus across the world, including in India, is yes. However, the PM E-DRIVE scheme, announced in September, does not offer subsidies for electric passenger vehicles, as the government feels the lower GST on EVs should do the trick. The earlier scheme, called FAME or Faster Adoption for Manufacturing of Hybrids and Electric Vehicles, which ended in March this year, offered buyers a subsidy. Automakers say any switchover to EVs needs better policy support. For instance, Tata Motors, which gets 20% of its sales from the fleet segment, reported a substantial reduction in fleet sales in the first quarter of FY25 after the FAME subsidy ended. Shailesh Chandra, MD of Tata Motors Passenger Vehicles and Tata Motors Passenger Electric Mobility, says the expiry of…

2017 MG Motor India signs MoU with Gujarat government, announces manufacturing facility in Halol with annual capacity of 80,000 units 2018 MG completes take-over of Halol facility, which was with General Motors earlier 2019 Rolls out first Made-in-India model, MG Hector; revamps Halol facility by investing ₹2,000 crore 2020 Indian and Chinese soldiers clash at Galwan Valley in Ladakh, leading to heightened tensions between the two nations 2021 India increases scrutiny on Chinese investments in the country 2022 Carmaker receives notice from Ministry of Corporate Affairs for alleged irregularities over financial reporting 2023 MG unveils plan to ‘Indianise’ by bringing Indian partner on board; announces JV with JSW Group in November; annual sales cross 50,000 units in December 2024 MAR: SAIC Motor and JSW Group finalises JV; the Indian conglomerate picks…

These were the words of Shri Rameshwardas Birla, the doyen of the Birla family, while forming the Bombay Hospital Trust, which was constituted on 06th September 1949, as a Public Charitable Trust, Registered under the Bombay Public Trust Act, 1950, with a main purpose of setting up hospitals. Bombay Hospital Mumbai, the Flagship Hospital of the Trust was set up in 1952, with 450 beds, of which 150 beds were in the General Ward, for poor patients where no charges were levied for the bed, food, operation theatre or doctor’s charges. The free outpatient department was also set up, where free consultation was provided to the needy patients. Later, Shri Madhav Prasad Birla, son of Shri Rameshwar Das Birla, took a keen interest in the working of he Hospital. The…

A Journey of Healthcare Leadership In the vast and evolving landscape of healthcare, Meenakshi Hospitals has emerged as a beacon of medical excellence, spanning across multiple regions in Tamil Nadu. With a profound legacy rooted in compassion, innovation, and patient-centric care, these hospitals-Meenakshi Mission Hospital and Research Centre (MMHRC) in Madurai, Meenakshi Hospital in Tanjore, and Meenakshi Super Speciality Hospital (MSSH) in Madurai are synonymous with advanced medical care that blends cutting-edge technology with heartfelt empathy. Meenakshi Mission Hospital and Research Centre: 33 Years of Healthcare Leadership Founded over three decades ago under the visionary leadership of Dr. S. Gurushankar, Meenakshi Mission Hospital and Research Centre (MMHRC) in Madurai has evolved into a 1,000-bed multispecialty healthcare powerhouse. With over 50 specialized departments offering everything from basic diagnostics to advanced treatments,…

REVIEW The latest iPhone 16 Plus receives subtle yet impactful design updates over its predecessor, including a vertical rear camera arrangement, and new vibrant colour options. The aerospace-grade aluminium chassis feels light, and the matte finish resists fingerprints. The 6.7-inch Super Retina XDR display, unchanged from last year, delivers sharp visuals and vibrant colours. But the 60Hz refresh rate feels dated, though the display’s peak brightness has been improved. The new Camera Control button, while offering convenient features like pressure sensitivity and swipe gestures for adjusting settings, feels finicky at times, and has limited third-party app support as of now. The main and ultrawide cameras capture exceptional detail, particularly in low-light conditions. The only shortcoming is the lack of a dedicated telephoto lens. Powered by Apple’s new A18 Bionic chip,…

BILATERAL TRADE INDIA’S TRADE SURPLUS WITH THE US HIT A NINE-YEAR HIGH IN FY24 SOURCE CMIE ECONOMIC OUTLOOK EXPORTS INDIA’S EXPORTS TO THE WORLD’S LARGEST ECONOMY HAVE SOARED NEARLY 100% IN THE PAST 10 YEARS WHAT WE SELL ENGINEERING GOODS AND CHEMICALS TOPPED THE LIST OF COMMODITIES EXPORTED TO THE US IN FY24 SOURCE CMIE ECONOMIC OUTLOOK IMPORTS WITH A FALL IN IMPORTS OF PETROLEUM PRODUCTS, INDIA’S SHIPMENTS FROM THE US DECLINED 20% IN FY24 WHAT WE BUY ENGINEERING GOODS AND PETROLEUM PRODUCTS WERE THE TOP IMPORTED COMMODITIES FROM THE US IN FY24 92% THE INCREASE IN TOTAL TRADE BETWEEN INDIA AND THE US IN THE PAST 10 YEARS $675.50 BILLION WORTH OF GOODS INDIA IMPORTED FROM OTHER NATIONS IN FY24. WITH $101.80 BILLION, CHINA EMERGED AS THE TOP SOURCE…

NO STRANGER TO Raisina Hill, the third term of the National Democratic Alliance (NDA) government is seeing a flurry of activity and announcements, and the first 100 days was business as usual for the most. The Bharatiya Janata Party (BJP) led-NDA completed 100 days in power on September 17. Certain of its victory in the Lok Sabha elections, the government had drafted an agenda for the first 100 days before the polls. But with the BJP winning just 240 seats in the Lok Sabha, NDA 3.0 has had to rely on its allies including the Telugu Desam Party, Janata Dal (United), and the Lok Janshakti Party. This lack of a majority seems to have had a telling effect with the review, if not rollback of a handful of proposals including the…

TATA MOTORS’ STRATEGY • It currently has five EV models: Tigor, Tiago, Nexon, Curvv, and Punch. While Nexon and Punch are the best-selling personal EVs, Tiago and Tigor are the best-selling fleet EVs• For better focus, the company has spun off its EV business into a separate subsidiary, targeting a share of 30% EV penetration in its portfolio by 2030. It has also introduced separate showrooms for its EVs• The company is actively seeking partnerships with domestic firms to procure lithium-ion cells• Tata Motors was the first EV manufacturer to introduce EV models through its Pure EV architecture—acti.ev.• To bring price parity, the company has offered discounts of up to ₹3 lakh in its EV models JSW MG MOTOR INDIA’S BATTLE PLAN • It currently has popular models like the…

India has now earned the status of becoming a global destination for health care services, with its state of-the-art hospitals reflecting international quality, innovation, and standards in patient care. Dotted across major cities and regions in India, these hospitals are playing a very critical role in providing world-class medical services that are attracting patients from all parts of the world to these hospitals. The convergence of leading-edge technology, highly skilled medical professionals, and affordability in healthcare costs enables hospitals to emerge as one of the most highly competitive destinations on the global health map. One of the distinguishing features of India’s greatest hospitals is their commitment to clinical excellence. These institutions distinguish themselves in various fields, including cardiology, oncology, neurology, orthopedics, and organ transplantation, among many others. Multispecialty departments are…

1 Competition is heating up across segments in the Indian motorcycle market 2 Newer battlefields are cropping up with advances in technology, like the electric bike and CNG segments 3 Bajaj Auto’s Freedom 125, the first CNG bike, poses a competitive threat to legacy manufacturers, potentially eating into ICE vehicles’ share 4 Mahindra & Mahindra-backed Classic Legends, through brands like Jawa and Yezdi, is looking to take on Royal Enfield, the leader in the 350 cc motorcycle segment 5 Triumph and Harley-Davidson, through their partnership with Bajaj Auto and Hero MotoCorp, respectively, are eyeing the above 350 cc segment 6 EV start-ups like Ola Electric, Revolt Motors, and Ultraviolette are challenging legacy manufacturers such as Hero and Honda…

The central and various state governments have announced a slew of measures to make the scheme a success Under the policy, the states and Union Territories will provide tax rebate of up to 25% on the purchase of new vehicles after scrapping old ones Automakers have been asked to offer a discount of up to 3% to buyers who scrap old vehicles Discount available for owners within six months of scrapping vehicle. Details must be logged on VAHAN portal Manufacturers may opt to provide extra discounts for scrappage on certain vehicle models in their line-up…

1 India has been trying to increase the share of its manufacturing sector in the economy for several years 2 It has rolled out measures including Make in India, cut in corporate tax rates, and production-linked incentives (PLI) to investments in manufacturing 3 There has been a mixed response to these efforts amidst a slow revival of capex by the private sector 4 Industrial smart cities are another initiative to attract investors and expectations are this would a good response…

What was the problem you were grappling with? When I took over the reins at Luminous, my primary responsibility was taking the organisation on a transformational journey. There were three interconnected fronts where we had to work as a team—expanding our presence, building business in a new category, and cultivating a culture that thrives on Indian values with the ability to adapt to a global outlook. I understood that the key to success lay in building a skilled workforce. Whom did you approach for advice and why? Manish Pant, Chairman of Luminous Board & Executive VP of International Operations at Schneider Electric, played a pivotal role. With his deep knowledge of the energy sector and the Indian market, Manish provided invaluable guidance. We had previously worked together on solar projects…