Key economic forecast: Monsoon may disrupt inflation calculations

Real Economy: Dun & Bradstreet expects the Index of Industrial Production (IIP) to remain robust, supported by the improvement in overall consumer demand. Strong growth in infrastructure and construction goods since November 2022 reflects healthy investment activity in the economy and will continue to support industrial production even as exports remain weak. Nonetheless, the monsoon remains a major risk to industrial output. Dun & Bradstreet expects the Index of Industrial Production (IIP) to have grown by 8.0% - 8.50% during June 2023 partly due to the low base of the previous year.

Price Scenario: Dun & Bradstreet expects retail inflation to remain elevated given the food supply chain, especially cereals and vegetables, has been disrupted by an intense heatwave followed by heavy rainfall. The progression of the monsoon and the trend of Kharif sowing will play a crucial role in determining inflation in the coming months. The recent increase in food prices is expected to amplify inflationary pressures and may delay a policy rate cut in the short term. On the other hand, wholesale inflation is likely to remain negative due to the high base of the previous year and the decline in global commodity prices. Dun & Bradstreet expects the Consumer Price Inflation (CPI) to be in the range of 4.3% - 4.5% and Wholesale Price Inflation (WPI) to be around (-) 3.3% - (-) 3.2% in July 2023.

Money & Finance: The impact of uneven rainfall and weather-related uncertainties followed by festival related demand from September 2023 is likely to keep inflation elevated, thereby pushing the possibility of a policy rate cut to early next year. This would keep bond yields elevated. Furthermore, the expected rate hike by the US FED and the consequent rise in US treasury yields will also prevent the yields from moderating. Dun & Bradstreet expects the 15-91-day Treasury Bills yield to remain at around 6.7%-6.72% and 10-year G-Sec yield to be 7.08%-7.10% for July 2023.

External Sector: While the net Foreign Institutional Investors (FII) inflows and the narrowing of the trade deficit will continue to support the rupee, it is expected to remain range bound given the interventions by the Reserve Bank of India. Dun & Bradstreet expects the rupee to remain at around 82.1 - 82.2 per US$ during July 2023.

Dr Arun Singh, Global Chief Economist, Dun & Bradstreet said, “Irregular rainfall has disrupted the supply chain of cereals and vegetables and the consequent increase in prices is expected to further amplify inflationary pressures, thereby delaying the possibility of a rate cut in 2023. Lending rates are likely to remain elevated this year. Despite the rising lending rates, the overall bank credit is growing in double digits. This should not undermine the uneven pace of credit growth across different sectors which points to the underlying challenges faced by some of them. On the other hand, growth in personal loans, vehicle loans and credit card debt shows the healthy consumer demand in the economy. Nonetheless, given the steep increase in the lending rates for personal loans, unsecured credit could see an increase in bad asset”.

Sanjaynagar slum in Ahmednagar witnesses transformation with dignified homes for residents in Phase

"Together, we can make a lasting difference in the lives of these communities," these inspirational words on Empowering the Society from Sandhya Naidu Janardhan, Managing Director, Community Design Agency is in regard to the significant strides taken in transforming the lives of residents in Sanjaynagar, a slum in Ahmednagar, through its innovative slum redevelopment project. With Phase 1 already providing safe and dignified housing for several families who have been residing in their new homes for over a year, CDA is now calling for support to ensure the successful construction of Phase 2.

Sanjaynagar, a community of 298 families who were living in challenging slum conditions, has witnessed a significant change, with 33 families already moving into comfortable and utilitarian homes. This accomplishment was made possible through the collaborative efforts of the residents themselves, Ahmednagar Municipal Corporation, Snehalaya (a local non-profit organization), and CDA, an initiative of Curry Stone Design Collaborative. Construction on the remaining 265 homes under Phase 2 is set to be completed over a 2-year period.

The redevelopment plan for Sanjaynagar extends beyond housing and encompasses the development of essential amenities such as water and drainage systems, roads, street lighting, childcare and community centers, courtyards for healthy recreation, edible gardens, and retail shops. The wide corridors in the design facilitate the utilization of common spaces for social interactions, fostering a strong sense of community. The involvement of the residents in decision-making processes and social issue resolution has been a key element of this transformative project.

With India firmly dedicated to achieving a 45% reduction in the emissions intensity of its GDP by 2030, the Sanjaynagar Redevelopment Project has focused on issues of sustainability and resilience right from the start, with an emphasis on passive cooling mechanisms, building rainwater harvesting and solar lighting systems, as well as using locally sourced fly-ash bricks for construction. CDA-designed houses are engineered to remain several degrees cooler, a feature that is often lacking in slum projects.  

The redevelopment of Sanjaynagar showcases the transformative power of collaborative design and emphasises the impact of the built environment on the flourishing of marginalised communities. CDA embraces an inclusive approach and aims to share its expertise with other underserved communities, extending its innovative design principles beyond Sanjaynagar to benefit other slums and informal settlements.

The successful Phase I of the Sanjaynagar slum redevelopment project has been made possible through financial support from both central and state governments under the Pradhan Mantri Awas Yojana. For Phase 2, donors, including corporate entities with a strong commitment to Corporate Social Responsibility, as well as philanthropists, have a unique opportunity to support the construction and furnishing of such spaces, which will significantly enhance the quality of life for the residents, building upon the government's assistance. In order to help the homeowners make their contribution towards the redevelopment, CDA has collaborated with the peer-to-peer lending platform Rang De to provide loans to the families. Contributions from like-minded and visionary individuals, organizations, and businesses will play a pivotal role in the construction of Phase 2 and in empowering the residents of Sanjaynagar.

Sandhya Naidu Janardhan, Managing Director, Community Design Agency, expressed gratitude, "The positive impact of Phase 1 has been immense, and we are determined to continue this journey by creating even more sustainable housing solutions. We invite everyone who believes in our cause to join us in this endeavour by contributing towards the building of Phase 2. Whether through financial or in-kind support, including building materials, you can become a part of setting a new benchmark in affordable housing."

VARTAH - India’s Largest Summit on Risk Management for Adolescents held in Delhi

An innovative national level school counsellors' summit that brought together school counsellors from across the country for ‘VARTAH: Values - Awareness – Reform – Thrive – Action - Hope. A summit on Managing Risk Behaviour for school children was organized by GD Goenka University in collaboration with Fortis Mental Health Program on 21 & 22 July 2023.

 

VARTAH aims at nurturing a positive mental health culture within educational ecosystems, offers a distinctive platform for school counsellors and educators to engage in conversations focused on awareness, reforms, and actions concerning the well-being of children and adolescents.

 

The event featured insightful expert talks led by distinguished speakers from King’s University Canada, James Cook University, Singapore, and several experts from international education. Sessions focused on risk identification, proposing practical solutions to prevalent issues and challenges in child and adolescent mental health and examples of how these issues are managed across various geographical and cultural landscapes globally. 

 

Dr. Samir Parikh, Chairperson, Fortis National Mental Health Program said “Empowering children in their formative years with skills for life that help them navigate through ups and downs with confidence, self-belief and resilience is essential, that takes them on their individual paths of success, are able to have meaningful relationships and contribute to the society. A focus on mental health and well-being as an integral part of education is critical to ensure positive overall growth.”

 

Prof. (Dr.) Anjali Midha Sharan, Dean, Research & Development and School of Humanities, Social Science and Education, GD Goenka University said: “VARTAH shall focus on de-stigmatizing mental illness and enabling counsellors with skills required for helping adolescents in vulnerable environments. This shall be an extension of the University’s focus on propagating mental well-being and integrating psychological health into mainstream education. The event brings together mental health experts, school counsellors and teachers creating opportunities for dialogue around action required for propagating psychological well-being of the youth.”

 

Established in 2013 and located in Gurugram, Delhi NCR, GD Goenka University is a leading multi-disciplinary institution of higher education. Established with a vision to redefine education and empower the next generation of thought leaders, the university rooted in a rich heritage of culture and armed with a forward-looking approach, offers undergraduate, postgraduate, and doctoral programmes that transcend traditional boundaries and equip our students with the skills and knowledge to thrive in an ever-evolving global economy. Committed to academic rigor, research and innovation, and holistic development, the university is dedicated to nurturing intellectual curiosity, fostering creativity, and producing socially responsible global citizens. 

PRCAI launches a brand new podcast series, Unmute on the 2023 World PR Day

UnMute With PRCAI Marks The Debut Of A New Podcast Giving Voice To 'Opinions That Matter’ By Indian Achievers...

The inaugural podcast series salutes and celebrates brand India, featuring India Inc. including Ravi Venkatesan, Priyanka Gill, Vikram Sakhuja, Arundhati Bhattacharya, and Avinash Pant amongst others. The first episode to roll out on Thursday, July 20, and will be on over 75 platforms including Spotify, Anchor, Bingepods, JioSaavn, Google Podcasts, Apple Podcasts.

Crafting the compelling narrative of a bold and progressive India, the Public Relations Consultants Association of India (PRCAI) will debut its first-ever podcast series – ‘UNMUTE with PRCAI’. The collection consists of 10 inaugural episodes that will be unveiled by India's most influential Public Relations professional body, on World PR Day 2023 which is celebrated annually on July 16, saluting brand India and recognizing the contributions of Public Relations professionals in shaping the world.  

 

The exclusive series brings together business leaders, and valued 'Opinions that Matter', from diverse speakers from the worlds of business, politics and culture, to amplify the voices of thought-leaders shaping the rising India. Thought-provoking, yet light-hearted conversations of individual success stories will empower listeners to critically think about the challenges and opportunities in an evolving landscape. 

 

The podcast is hosted by Niret Alva, an award-winning television journalist, producer, anchor, director and educator, who has been awarded a National Award (Indian) for Excellence in Visual Science-Based Communication and an International Award (Asian Television Award) for Best Anchor in a Current Affairs Series. Niret, who was also selected as an Asia 21 Leader by the New York-based Asia Society, with his rich and extensive experience, will help bring out interesting and authentic conversations. 

 

"I have enjoyed interviewing these inspirational leaders and getting them to tell their unique stories. These stories will inspire, motivate and challenge listeners as they listen to how these industry leaders lead, deal with adversity, and find balance in their every day lives.  It’s a great initiative from the Public Relations fraternity,” said Alva, TV journalist and Co-founder of Miditech Studios. 

 

The show will feature renowned names, including Ravi Venkatesan, Chairperson of The Global Energy Alliance for People and Planet (GEAPP); Entrepreneur Priyanka Gill, Vikram Sakhuja, Group CEO of Madison Media, and OOH; Arundhati Bhattacharya, Chairperson and Chief Executive Officer of Salesforce India and Avinash Pant, Former, Director-Marketing for Meta.    

The inaugural 10-part series, sponsored by Adfactors PR, will roll out its first episodefeaturing Ravi Venkatesan, Chairperson Global Energy Alliance for People & Plant (GEAPP) and Global Alliance for Mass Entrepreneurship (GAME) on Thursday, July 20 on 75 plus platforms including Spotify, Google Podcasts, Apple Podcasts, Anchor, Bingepods, JioSaavn and whenever you get your audio content...  

In therapid fire round of the first podcast,Niretasks Ravi Venkatesan to do some crystal ball gazing about the U.S., China, Russia, and India and what lies ahead. This is what Ravi had to say about India, "We need to find a way to become less divided. All our problems today require us to come together as a society and as a country to solve them. I am 60 years old, and it's the most divided I have ever seen. And that's not good for solving the many challenges that we have."

 

At a time when the communication industry is experiencing an upward trajectory, harnessing the power of effective communication is paramount. According to PRCAI’s research, the Study of Public Relations Insights, Nuggets, and Trends (SPRINT) 2022-23, PR professionals are being increasingly recognised by the C-suite for their invaluable contribution. Eight out of 10 respondents said that India Inc. leadership is working closely with its corporate communications team to devise strategies for brand communication. 

“It is exciting to celebrate our profession and all the hard work of the community on this World PR Day with a new podcast series from PRCAI. We believe that there is an evolution in the value proposition being offered by the communications industry to businesses through credible narratives, powerful storytelling and shaping public opinion. Unmute With PRCAI aims to connect the creative communications world with India Inc, together crafting an honest narrative of a bold new India, saluting India’s compelling story in what could be the Indian century,” concluded, Deeptie Sethi, CEO, PRCAI. 

Athena's curse didn't work on this Medusa

Medusa Beverages Celebrates a Remarkable 5-Year Milestone of Success and Growth

- Aims to target 160 Cr of Revenue for 2023-24 

Avneet Singh, Founder Medusa Beverages

Probably it is Medusa Beverage's unique and quirky image in the market with modern and unconventional designs that make it stand out from other brands that works. The logo was inspired by the captivating and beautiful Medusa in Greek Mythology, who was later cursed by Athena...

 

Medusa Beverages stepped into the beer market in 2018, driven by a vision of its Founder, Avneet Singh, to create affordable beers for the millennials. Ever since the inception of the brand, they have been on an extraordinary journey. The brand is making great progress towards surpassing the remarkable goal of 160 crores in revenue for the year 2023 – 24. Moreover, they have accomplished impressive sales numbers and grabbed a market share of 17% in the canned beer industry in Delhi. 

 

The great minds behind the operations of Medusa have grown from 4 to 70 employees, covering North India. Furthermore, the beer is manufactured in 3 breweries located in different parts of North India. The brand has made remarkable progress since its initial stage of manufacturing through a contract with one brewery in Punjab. 

 

Speaking on this remarkable achievement, the Founder of Medusa said, “Our goal has always been to provide the best beer in the market and I am grateful to our consumers for the love they have shown for Medusa. It has been a wonderful five years and we have grown every step of the way. We are so proud of what we have achieved with Medusa so far and we are truly excited for the journey ahead. We will continue to strive for the best.”  

 

Medusa has a dedicated marketing team that consistently strives to maintain its unique and quirky image in the market. The brand’s packaging reflects the same, with modern and unconventional designs that make it stand out from other brands. 

 

"Competitiveness, passion and elegance moving - That’s the essence of brand Medusa, born in 2018 with the only objective to support the millennial consumers who are looking out for new taste and flavor in Indian market," revealed a Senior marketing official.  

 

Medusa is an India –based beer company with a strategic marketing division and a quirky and contemporary packaging. Medusa understands that beer is a passion, a lifestyle choice and importantly, a historic drink with a unique culture that needs to be preserved. Over the years, medusa has become the perfect combination of best barley malt and imported hops from Germany with 5.9% alcohol strength. Medusa brand logo is inspired by original character of a beautiful girl in Greek mythology who later cursed her beauty by Athena, turning onlookers to stone. 

(Promotional Feature)

THE AMERICAN BOYFRIEND is a Gripping Tale of Cross-Cultural Love, Interracial Relationships, and Racial Dynamics

"I want the world to know is what it means to be a modern Asian woman. She is confident, open-minded and independent, both financially and emotionally," says Ivy Ngeow the author of THE AMERICAN BOYFRIEND.

The American Boyfriend is a domestic psychological romantic suspense-thriller by London-based award-winning author and editor, Ivy Ngeow. This gripping novel takes readers on a heart-racing journey through the risks and rewards of online dating, interlaced with themes of cross-cultural relationships and the dynamics of race relations in the West. The book is scheduled to come out on 15 August 2023 from the Penguin Books imprint. It is currently available for pre-ordering on all major e-commerce websites in India.

Perfect for the fans of Gone Girl by Gillian Flynn, Things We Do In The Dark by Jennifer Hillier, and Verity by Colleen Hoover, The American Boyfriend introduces readers to Phoebe Wong, a Malaysian-Chinese single mother living in London. Tired of her dead-end job and aching to escape the British winter, Phoebe eagerly accepts an invitation from her long-distance titular ‘American’ boyfriend to meet him in sunny Key West, Florida. Accompanied by her teething toddler, Phoebe arrives ahead of her boyfriend and experiences a nightmarish turn of events when she is robbed on her first night.

Stranded in Key West without money, cards, or passports, Phoebe finds solace in the support of friendly locals. However, when a British ex-pat she meets is mysteriously shot dead, Phoebe realizes she is trapped in a dangerous situation as things continue to go grow out of hand. As suspicions surrounding her boyfriend's delayed arrival grow, Phoebe becomes determined to extricate herself and her daughter from the escalating danger.

Through the pages of this novel, Ngeow also sheds light on the nuanced dynamics of race relations and gun violence in the subtext. The story delves into the complexities of identity, love, and survival in a world fraught with danger as the readers go on this journey which is full of unexpected twists and turns and a shocking finale for the protagonist.

Talking about the publication of her book, author, Ivy Ngeow said, ‘I wrote a book that I wanted to read. I was frustrated that there was a serious lack of commercial fiction with strong female Asian protagonists. Much of Asian literature for the Western market falls into the literary fiction or historical category with romanticised tropes of the empire, WWII and “Malaya” nostalgia. But so much has happened since 1957. I write to challenge those tiring stereotypes and cliches. The story I want to give the world is what it means to be a modern Asian woman. She is confident, open-minded and independent, both financially and emotionally. (But it did take us thousands of years and about 40 minutes to get here). As such, this moment is so much bigger than me.’

Nora Nazerene Abu Bakar, Publisher, Penguin Random House SEA, says, ‘Stories like The American Boyfriend are important because they carry forward the message of why representation matters to the masses in a way that it would appeal to them. We hope that this book keeps the readers turning pages until the very end!’

'The American Boyfriend' is published and released by Penguin Random House.

India imposes restrictive measures on Gold imports to protect artisan livelihoods, promote indigenous manufacturing

With an aim to bolster the growth of the Indian jewellery industry and empowering local manufacturers to produce a wide range of gold ornaments domestically, the Indian government has recently imposed new restrictions on gold imports, specifically targeting the import of gold jewellery from ASEAN and SouthEast Asia. This strategic move aims to strengthen the Indian jewellery industry by curbing the disproportionate import of bullion compared to jewellery and fostering local manufacturing capabilities.

Welcoming this implementation that discourages sale of bullion obtained from imported jewellery which poses a grave risk of rendering numerous local artisans jobless, Saiyam Mehra, Chairman of the All India Gem and Jewellery Domestic Council (GJC), highlighted the significant disparity between bullion and jewellery imports, stating, "India imports bullion to the tune of 600-800 tonnes per annum, which is substantially higher than jewellery. India does not import gold jewellery through official sources due to a 25% import duty. The import duty on ASEAN countries was ‘zero’, which resulted in India's import of gold jewellery to the tune of more than 3.5 tonnes valued at $112.09 million in April-May 2023, of which $76.28 million came from Indonesia. Now, the restriction will stop such imports and enable jewellery retailers to manufacture all gold ornaments locally."

It is heard that the previous practice of importing ornaments for melting in local refineries and selling bullion for higher profits due to duty differentials has raised concerns within the industry. This practice not only affects domestic revenue but also poses a significant threat to the livelihoods of 70-80 lakh (7-8 million) local artisans.

Rajesh Rokde, Vice Chairman of the GJC, added, "With the current change, jewellery imports from ASEAN countrries have been restricted. Now, Indian jewellers can import gold jewellery only through the UAE under the CEPA agreement after paying the required import duty."

By reducing reliance on imports, the government aims to create a favorable environment for the development of local artisans and safeguard their employment opportunities. The All India Gem and Jewellery Domestic Council (GJC) welcomes the government's decision to impose restrictions on gold imports and stands united with the Indian jewellery industry in its efforts to nurture self-sufficiency and preserve the rich heritage of Indian jewellery craftsmanship.

The All India Gem and Jewellery Domestic Council (GJC) represents lakhs of trade constituents comprising manufacturers, wholesalers, retailers, distributors, laboratories, gemologists, designers and allied services to the domestic gems & jewellery industry. The Council functions with the objective to address the industry, its functioning, and its cause with a 360° approach to promote and progress its growth, while protecting the industry's interests. GJC, since the last 15 years, has been serving as a bridge between the government and the trade by undertaking various initiatives on behalf of and for the industry.