Government suggest exporters to comply with domestic & International standards, says official

There is a need for testing food products in order to ensure that it complies with domestic standards as well as international standards for exports, a top government official said at an Interactive Session on Swachhata Action Plan 2018-19 held in Gurugram today.
 
There is also a need for testing of all imported food products to ensure that they are of the requisite standard and food products not permitted for manufacture domestically. Apart from this, the level of contaminants, additives, and pesticide residues in food items is required to be monitored regularly, said Mr Ashok Kumar, Joint Secretary, Ministry of Food Processing and Industries at an Interactive Session on Swachhata Action Plan 2018-19- “Hygiene in Food Processing Sector” summit held in Gurugram today.
 
In order to develop food safety and quality Assurance infrastructure in the country MOFPI has been extending financial assistance in setting up and up gradation food Testing Laboratories in the countries and setting up of HACCP/ISO standards to improve the overall quality of Food Safety and hygiene in the country, said Mr. Kumar.
 
HACCP, ISO Standards are necessary condition for improving the overall quality of food safety & hygiene in the country and also to increase India’s share in global food trade. The main objective of the scheme is to motivate the food processing industry for adoption of food safety and quality assurance mechanisms such as TQM including ISO 9000, ISO 22000, HACCP, GMP, GHP, highlighted Mr. Kumar.
 
This will enable adherence food processors to the stringent quality and hygiene norms thereby protecting the health of consumers, enhancing product acceptance by buyers, both domestic & overseas and keep Indian industry technologically abreast of international best practices, said Mr. Kumar.
 
“Food processing industry is one of the largest industries in India. The country’s food processing industry ranks fifth in terms of production, consumption and exports”.
 
Strategic geographic location and proximity to food importing nations benefit India in terms of exporting processed foods. Hence Swacchata in food Processing Industry is a high scale consideration, noted Joint Secretary.
 
Dr. Rubeena Shaheen, Director (FSMS & RARD), Food Safety and Standards Authority of India said, FSSAI created the Food Safety Management System (FSMS) which provides a preventative approach to identify, prevent and reduce food-borne hazards. This is to minimize the risk of food poisoning and to make food safe for consumption.
 
Key Roles to implement food hygiene are develop/review guidelines related Schedule 4 requirements i.e. GMPs/GHPs for various food industries including e-commerce players. Strengthen implementation and inspection of GHPs/GMPs by developing guidance documents and inspection checklists for FBOs and Regulatory Staff, said Shaheen.
 
Among others who spoke during the conference were Mr Vikas Jain, President, Gurgaon Chamber of Commerce & Industry & Chairperson, ASSOCHAM Council on Food Processing & Value Addition, Dr A K Tyagi, Executive Director, Haldirams Snacks Pvt.Ltd., Mr Bejon Kumar Misra, Founder, Consumer Online Foundation, Dr Chindi Vasudevappa, Vice Chancellor National Institute of Food Technology Entrepreneurship and Management (NIFTEM) and Dr Om S Tyagi, Assistant Secretary General, ASSOCHAM.
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KONE India introduced its New Elevator

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KONE India introduced its New Elevator offering – KONE U Mono Space® and KONE U Mini Space™ for the mid-range segment in Hyderabad.

Speaking on the occasion, Mr. Amit GossainManaging Director, KONE India, said “Our New Products have 26 cars with visuals inspired by Navaratna, the nine gems. The Navaratna visual car designs are so striking and unique that they will certainly help us differentiate in the market place and enhance the customer experience. Moreover, since the demand for better aesthetics is gaining importance, this New Design Collection is set to create a lasting impression & unforgettable user experience”.

KONE has set a benchmark in the Industry through its Eco-efficient Performance, Premium Ride comfort and Award-winning Designs.

He further added, “The Construction and Real Estate Customers are demanding when it comes to Energy-efficiency and Green Building Certification Schemes like LEED and BREEAM with our New Solutions, the Carbon footprint of buildings can be cut to an even greater extent”.

KONE is a Pioneer in Eco-efficiency within its Industry. The New KONE U Mono Space Elevators are up to 35 percent more Energy Efficient than its earlier Elevators. The improvements were only possible by Renewed KONE EcoDisc® hoisting Machine, a highly Efficient Drive, and our Enhanced Standby Solutions. The Renewed KONE Eco Disc hoisting machine is complemented by a wide range of upgrades that are designed to deliver Industry-leading Ride Comfort: a New Motor Control System, a renewed Braking System, a Redesigned Hoisting System, and an improved Car Structure. This means that the noise levels, both inside and outside the Elevator cars, are as low as possible, the ride is smooth with no vibration, and that the floor leveling is perfectly accurate. Ride comfort is an important part of user experience, and our vision is to deliver the best user experience.

One significant value-add is also a Comprehensive Test for Ride comfort, now conducted on every KONE Elevator before handover – this is a unique service offered by KONE in the Elevator Industry.

Early this year, the company launched its New Customer Experience Centre at ITEC in Chennai to showcase latest Technology and Development of KONE Solutions for People Movement.

LANXESS: Price adjustment for PA 6.6 compounds

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LANXESS is raising its prices for Durethan A (polyamide 6.6) compounds in Europe, Middle East and Africa by EUR 0.60/kg with immediate effect.

The overall tight market situation with extremely limited availability of raw materials in the PA 6.6 value chain has led to further severe price increases for PA 6.6 base resin. As there are no signs of a relief, a price adjustment is unavoidable.

The High Performance Materials business unit offers support in exploring opportunities to replace PA 6.6 applications by PA 6 or PBT grades.

DHFL Pramerica Life Insurance takes life covers to 4.15 crore underprivileged people in the last four years through MFIs

DHFL Pramerica Life Insurance (DPLI) life insurance companies in India today is working towards deepening life insurance penetration in the country through active tie-ups with microfinance institutions and NBFCs. Since FY14-15, the company has provided life insurance cover to 4.15 crore people through this channel. The initiative seeks to align with the government’s emphasis on social security under the financial inclusion mission to address the problem of very low penetration levels in life insurance. During FY17-18, DPLI has paid claims worth Rs.108 Crore and has covered 1.93 crore lives. As of today, DPLI has partnership with 77 microfinance partners including NBFC-MFIs, small finance banks among others.

According to Mr. Anoop Pabby, MD & CEO, DPLI“We understand that life insurance is a key component of financial inclusion. At DPLI, our endeavor has been to take life insurance to the bottom of the pyramid by partnering with microfinance institutions and providing life cover to their customers. These customers who take income generating loans from the MFIs are highly vulnerable to financial shocks and life insurance is a must to support them in times of crises. Life Insurance can make a significant positive difference in the lives of these individuals by helping their families mitigate shocks and improve the management of expenses in case of untimely death of the primary bread-winner. Notably, we have settled claims of 46,000 customers under the MFI segment during FY17-18.”

 

“We are extremely humbled that recently Microfinance Institutions Network (MFIN), the association of MFIs has recognized DPLI as an enabler for the microfinance Industry by providing life insurance services to micro-loan borrowers. MFIN’s primary objective is to work towards the development of the microfinance sector through responsible lending and client protection among others. Through tie-ups with MFIs our objective is to support MFIN in their efforts towards growing the microfinance sector. We are actively looking for more such tie-ups with regional rural banks, self-help groups and other microfinance institutions to increase awareness about the need for life insurance and making it more accessible to the marginalized segments of the society”, Added Mr. Pabby.

Morph.ai among Mayor of London’s India Emerging 20 awardees to go global

A recent report from Grant Thornton UK LLP and the Confederation of Indian Industry (CII) revealed there are currently over 800 Indian companies operating in the UK, employing over 105,000 people. The report found that of the fastest growing Indian companies, over half are now based in London, up from 44 percent in 2017 and 39 percent in 2016.

Facilitating this is the Mayor of London’s India Emerging 20 (IE20) business programme. Into its third year, the IE20 announced the latest list of 20 of India’s fastest growing companies to receive the award and expand to London. The winners were selected from regions across India and represent some of India’s most innovative, high growth businesses specializing in technology, life sciences, and business services.

Morph.ai, a chat marketing platform, has been recognized as one of the fastest growing Indian companies by the Mayor of London, Sadiq Khan, to have received a prestigious award, to get enlisted for the IE20 Business Programme.

Morph.ai is one of the 20 winners which were chosen out of 300 applicants, amidst some of India’s most innovative and emerging businesses. As a part of the IE20 Business Programme, Morph.ai will gain access to London’s distinguished business community. The startup, which is also a part of Nasscom 10,000 startups, HSBC Bank’s ‘Accelerator 2030’ program and YES Bank’s first accelerator batch, looks to expand its presence globally, starting with the UK as a promising market.

Established in 2016, Morph.ai has seen tremendous growth in the past two years, with esteemed clients like Manchester City Football Club, Yes Bank, OMD Australia, 99 acres, Yamaha . The company uses chat as a channel to boost marketing and lead-generation campaigns through social media platforms like Facebook.  “London is a truly global business centre and presents lots of opportunities for Indian companies looking to expand their business overseas.

 

“We are very excited to be a part of Mayor of London’s prestigious IE20 Business Programme.  We already have Manchester City as one of our client in the UK, we look forward expand our business and work with more clients there” said Pratik Jain, Co-Founder of Morph.ai

 

About Morph.ai

Phased manufacturing plan needed to boost local manufacturing of electronic components other than mobile phones

The Ministry of Electronics and Information Technology (MeitY) should come up with a phased manufacturing plan to encourage manufacturing of electronic components other than mobile phones, suggested a recent ASSOCHAM-NECTI joint study.
 
“As domestic value addition has increased for mobile phones, similar plans are needed to encourage manufacturing of components which are the core ingredients in the overall increase of domestic value addition,” noted the study titled ‘Electricals & electronics manufacturing in India,’ jointly conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) and NEC Technologies India Pvt. Ltd.
 
Noting that India lags in component manufacturing, which is the most fundamental block in electronic devices, the report stated that country should focus on reducing component imports and increasing local value addition to become a manufacturing hub.
 
Though the union government is driving reform in IT and electronics manufacturing sector through initiatives like ‘Make in India’ and creating favourable policies to enable an investor-friendly environment, component ecosystem has not taken foothold due to unfavourable scale factor in establishing commercial viability.
 
“Limited fresh investments are coming into the country, due to which existing plants are running at a sub-optimal capacity,” highlighted the ASSOCHAM-NECTI report.
 
Considering that India holds a very small share in the global electronics market, the manufacturers should aim to capture a larger piece of global market by focusing more towards exports.
 
Further, the report said that there is a huge opportunity for manufacturers and foreign companies to invest in India’s electrical and electronics manufacturing to achieve government’s target of $400 bn electronics market.
 
“Even though value of electronics imports increased at a compounded annual growth rate (CAGR) of 7.88 per cent during FY15-FY17, there has been a steady increase in the rate of manufacturing which stood at a CAGR of 23.28 per cent over the same period. The exports have remained constant at $6 bn.”
 
It also highlighted significant increase in value of imports for electronics such as computer hardware as the value of computer hardware imports increased from $6.89 billion (bn) in FY17 to $7.41 bn in FY18 clocking an year-on-year increase of 7.5 per cent.
 
Thus, the report suggested that government should increase export incentives for sectors like computer hardware and peripherals, and light emitted diode (LED) to make India’s manufacturing globally competitive and facilitate domestic component ecosystem growth.

MARG ERP Limited partners with ICICI Bank

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Marg ERP limited Inventory and Accounting software solution company has partnered with ICICI Bank  by consolidated assets, to offer an integrated payments platform to Micro, Small and Medium Enterprise (MSME) customers, using MARG’s accounting software.

This integration aims to promote ‘Connected Banking’ and enables ICICI Bank’s current account holders to securely connect their bank account with the MARG ERP software and undertake an array of digital transactions from within the ERP platform itself. It will enable businesses to initiate vendor & salary payments via RTGS, NEFT or IMPS directly from this platform, automate reconciliation of banking and accounting entries, apply for working capital loans as well as schedule future dated payments, thereby offering exemplary command over day-to-day financial transactions for businesses.

This pioneering initiative significantly enhances convenience for MSMEs as they are no longer required to toggle between a banking platform and an ERP software to undertake their business transactions. It also allows them to experience contextual banking, by connecting their banking and accounting, which was once available only for large companies and corporations with large IT and infrastructure budgets.

Talking about the partnership, Mr. Anup Bagchi, Executive Director, ICICI Bank said,”ICICI Bank has always pioneered in bringing in digital innovations and provide world-class banking experience to its customers. We are delighted to partner with Marg ERP to bring forth an integrated payments solution that will offer MSMEs with unparalleled ease of doing business. The collaboration aims to promote the concept of ‘Connected Banking’ wherein we aim to get various banking functions such as initiating transactions, payments and reconciliation on a common platform. Additionally, it will enable businesses to initiate vendor & salary payments digitally, apply for working capital loans as well as schedule future dated payments without having to shift between a banking and an ERP software platform. We will continue the model of co-creating to deliver innovative products and services to our customers.”

 “This is a maiden tie-up between Marg ERP and ICICI Bank, where we will provide integrated software solutions to small and medium enterprises and will address many of the complexities related to their payables and accounting. This tie up will enable them to initiate RTGS, NEFT, and IMPS transactions directly from Marg ERP’s platform. The customers just need to register their ICICI Bank’s current account on Marg ERP software through a simple two-click one-time process. SMEs and MSMEs in the country can now leverage the power of Integrated Banking, save time and increase productivity. We are happy and proud to be associating with ICICI Bank,” said Thakur Anup Singh, CMD, Marg ERP