BWI: Myntra.com Introduces India’s Biggest Fashion Sale, the ‘End of Reason Sale’

Source : Myntra.com Wednesday, December 31, 2014 3:17PM IST (9:47AM GMT)   Myntra.com Introduces India's Biggest Fashion Sale, the 'End of Reason Sale' Premium Fashion Merchandise to be offered at mind-boggling discounts between January 3rd and 4th, to Kick Off the New Year in Style   Bangalore, Karnataka, India It’s time to shed away all shopping inhibitions and bring forth the shopaholic in you as the biggest ever fashion sale is here to blow away all reasons that have stopped you from shopping. Myntra.com, India’s leading online fashion retailer, is all set to introduce the ‘End of Reason Sale’ (EORS) to be held between Saturday & Sunday, January 3rd & 4th, 2015, inviting all Indians to experience online shopping from the widest catalogue at never before offers. Premium, International brands like Nike, Puma, Adidas, GAS, US Polo, Fossil, Vero Moda, MANGO, and designer brands like Ritu Kumar, Rohit Gandhi & Rahul Khanna, JJ Valaya, Wendell Rodricks, Mandira Bedi to name a few will be offered in all sizes and styles at the click of a button. And if the mouth-watering deals were not enough to get shoppers’ eyes popping, the ‘End of Reason Sale’ will also engage them with entertaining contests on the brand’s social platforms and win exciting prizes. A series of quirky TV commercials have also been unveiled across leading channels to bring out the essence of the biggest online fashion sale. Here’s a glimpse of Myntra’s End of Reason Sale TV commercials – Commercial 1, Commercial 2 Speaking about the ‘End of Reason Sale’, Prasad Kompalli, Head of Sales & Marketing, Myntra, said “Through EORS we will break away from the traditional End of Season Sale format which usually last for 6-7 weeks and crunch it into two days where shoppers can avail the best of fashion from the widest catalogue at amazing offers. With EORS, we will create India’s Biggest Fashion Sale ever.” He further added, “The crunched sale period will also allow us to be the first fashion retailer to launch Spring Summer 2015 collection in January itself, and provide shoppers early access to fresh fashion.” Myntra’s EORS has got leading fashion brands like Puma excited as well. Abhishek Ganguly, Managing Director, Puma India said, "PUMA as the world's fastest brand, seeks to deliver high performance products with an edgy lifestyle quotient to its core consumers. Myntra with its scale allows us to reach out to such consumers across India and helps the brand offer a wide breadth of products on its platform. As our key strategic partner, we will continue to grow the PUMA-Myntra relationship from strength to strength in the coming years." Gear up with the latest Myntra App (Andriod, IOS, Windows) on your smartphone and get ready to plunge into the fashion spectacle that will take place on January 3rd and 4th, 2015!    About Myntra.com: Myntra.com is among the leading e-commerce platforms in India for fashion and lifestyle products. Myntra has partnered with over 1000 leading fashion and lifestyle brands in the country such as Nike, Adidas, Puma, Levis, Arrow, CAT, Timberland, FabIndia, Biba and many more to offer a wide range in latest branded fashion and lifestyle wear. The platform receives over 50 million visits every month and services over 9,000 pin codes across the country.  With the largest in-season product catalogue, 100% authentic products, Cash On Delivery and 30-day Exchange/Return policy, Myntra.com is today the preferred shopping destination in India.   Media Contact Details Hepsibah Rozario, Myntra.com, ,+91-8884913468 , hepsibah.rozario@myntra.com   KEYWORDS: Business/ Finance:Advertising, PR & marketing, Clothing & Accessories, Events & Conferences, Media & Entertainment, Retailers;General:Consumer interest, Entertainment, Fashion, Internet, Lifestyle   To ensure that you continue to receive email from Business Wire India in your inbox, please add businesswireindia.com to your Address Book or Safe List.   To submit a press release, click here. To unsubscribe or modify your Business Wire India settings, please visit your profile page on Business Wire India. Connect with us on: Facebook | Twitter | Google+

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BWI: Occupancy Certificate Obtained for Emaar MGF's Palm Square

Source : Emaar MGF Wednesday, December 31, 2014 11:55AM IST (6:25AM GMT)   Occupancy Certificate Obtained for Emaar MGF's Palm Square Company will hand over the world-class Office cum Retail complex in the New Year   Gurgaon, Haryana, India Emaar MGF, India’s leading real estate developer, has received Occupancy Certificate for its commercial project Palm Square, located on Golf Course Extension Road, Sector 66, Gurgaon. The Company will soon hand over the possession to its esteemed customers, starting January 2015. Palm Square is an integrated corporate office-cum-retail complex spread across over 3.475 acres. It is strategically located next to the Palm Drive; Gurgaon’s most desirable residential development with direct entry and exit from the 150-feet wide Golf Course Extension Road. The Complex comprises of 14-floors of premium office spaces, central atrium, double height entrance lobby, 2-level retail arcade and open plaza thereby providing a perfect opportunity to mix business with pleasure. Mr. Shravan Gupta, Executive Vice Chairman & Managing Director, Emaar MGF Land Limited congratulated the Projects team on commencing the hand over process of the Company’s first commercial project in Gurgaon to the customers. Speaking on the occasion, Mr. Joy Bhalla, Head Commercial – Leasing and Sales, Emaar MGF Land Limited said “We are extremely delighted to announce that a significant milestone has been achieved with the beginning of handover of our first commercial project in Gurgaon. It will enable our esteemed customers to swiftly occupy their dream office spaces and retail units that are backed by top grade infrastructure. To provide consumers some elite options, we are hopeful of having an impressive tenant profile including some of the leading Fortune 500 companies within the first two quarters of 2015. This project will set new benchmarks in design, quality and operational management." Palm Square is well-placed on the Golf Course Extension Road right next to the upcoming premium residential district of the city. The office spaces are built around a side-core concept to ensure the maximum utilization of space. The entire complex will boast of highest quality specifications and craftsmanship, measuring up to the global international standards. The exquisite landscape design complements the contemporary style of building architecture. Palm Square has international quality of air-conditioning, security systems and all other services, with premium finishing of imported stones and dedicated high-speed elevators. About Emaar MGF Land Limited Emaar MGF is a joint venture between MGF Developments Ltd and Emaar Properties PJSC, Dubai. The Company has been instrumental in bringing one of the largest FDI in the Indian real estate sector. Headquartered in New Delhi, the Company started operations in India in mid-2005 and is engaged in Residential, Commercial, Retail and Hospitality projects across India.  The Company is driven by its mission to develop and deliver unique integrated lifestyle and work place environments and planned developments and to be recognized as a responsible corporate citizen and an employer of choice. Emaar MGF is constructing master planned developments including residential, retail and hospitality properties to provide fully integrated self contained communities. For more details please visit http://www.emaarmgf.com/   Media Contact Details Varun Aggarwal , Corporate Communications Emaar MGF Land Limited, ,+91-9810215686 , media@emaarmgf.com Vishal Chaudhary, Corporate Communications Emaar MGF Land Limited, ,91-9873037189 , media@emaarmgf.com Santosh Kumar , Adfactors PR Pvt. Ltd, ,+91-9711306103 , santosh.kumar@adfactorspr.com Vipin Chandra Phulara, Adfactors PR Pvt. Ltd, ,+91-9582731432 , vipin.phulara@adfactorspr.com   KEYWORDS: Business/ Finance:Accounting & management, Construction & Property, Major diversified industrial groups, Real Estate   To ensure that you continue to receive email from Business Wire India in your inbox, please add businesswireindia.com to your Address Book or Safe List.   To submit a press release, click here. To unsubscribe or modify your Business Wire India settings, please visit your profile page on Business Wire India. Connect with us on: Facebook | Twitter | Google+

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BWI: Non-Life Industry is Expected to Grow at 10-11% and Cross the Rs. 85,000 crore Mark in FY 2015

Source : India Insure Risk Management & Insurance Broking Services Pvt. Ltd Wednesday, December 31, 2014 10:00AM IST (4:30AM GMT)   Non-Life Industry is Expected to Grow at 10-11% and Cross the Rs. 85,000 crore Mark in FY 2015 India Insure releases the 5th Edition of the Insurance Report titled 'INDIA 2014 - Insurance Industry Report'.   Mumbai, Maharashtra, India The report attempts to take an all around view of the dynamics affecting the non-life insurance industry. It captures the key perspective of the insurance sector, the outlook for FY 2015, key statistics of the industry and dwells upon the pertinent challenges faced by the under-penetrated market. It also covers the regulatory changes that have taken place in the Indian insurance industry in the past one year. Outlook 2015   The Non life insurance industry is expected to grow at about 10 to 11% in FY 2015 and cross the Rs. 85,000 crore mark. India will continue to benefit from an overall soft market. The question in 2015 is not how low the rates may go, but how low they may remain. Corporates have benefited from a continuous soft market for roughly seven years now, raising questions around whether this is the “new normal” and whether rates will ever harden. In all probability with the passage of the Bill to raise the limit of Foreign direct investment from 26 to 49 percent this fiscal will see an inflow of foreign investments worth about US $ 2 billion within a year and this would be a potential lifeline for a sector starved of capital and squeezed by regulations. The need to operate economically and efficiently, comply with new and existing regulations and standards, meet competitive pressures, and take advantage of opportunities to grow will continue to exert considerable pressure on insurers. Insurers will continue to invest heavily into Information Technology to help enhance productivity as well as customer experience Health and Motor insurance will continue to be the growth engines The recent changes in the Motor vehicle act coupled with the Regulator easing its rules by introduction of long term (3 year) insurance will see a fall in the number of uninsured vehicles contributing  to the growth in this line. The Health insurance segment has been making significant inroads with the Government run schemes gaining momentum.  Health premium is likely to touch the Rs. 21000 crore mark this fiscal. General insurers are anticipating major claims from industries in Visakhapatnam following severe damage to property caused by cyclone Hudhud. Insurers are also saddled with large claims of about Rs. 800-900 crores from the flood-ravaged Jammu and Kashmir region. Additionally the major fire loss at Bhatinda refinery in the first quarter of 2014 has been pegged at about Rs. 650 crores. ​ Key Highlights of FY 2014:   The General insurance industry in India has lost some of its steam during FY 2014 recording a growth of only 12.2% and touching a premium of Rs. 77,541 crores. On the life side, the industry seems to be slowly limping back to normalcy with new business premium recording a growth of 12% over the previous year. The industry combined ratio has come down to 113% this fiscal against 115% in FY 2013. The market share of PSU’s has decreased from 57% in FY 2013 to 55.8% in FY 2014. The highest growth segment-wise was recorded in the Motor segment at 14% followed by Health at 13%. Majority of the premium (36%) in India continues to be channelized by the ubiquitous insurance agent followed by direct business at 28% in FY 2014. During the same period, the percentage of premium collected through the broking channel stood at 22%; up from 21% in FY 2013. In the highly competitive, commoditized insurance market, price continues to be the major differentiator in clinching or losing a deal. Despite increase in customer awareness and involvement increasing, there remains a trust deficit between the customers and the industry participants, leading to low loyalty.   For more information about the report click: http://www.indiainsure.com/industry_reports.php   About India Insure Risk Management & Insurance Broking Services Pvt. Ltd: Established in the year 1999, India Insure is the first licensed insurance broker in India. With our expertise ranging from handling large power projects to some of the largest liability deals, we provide a comprehensive array of property, health, employee benefit, liability, reinsurance and risk management services. In addition, we have developed product-specific competencies that allow us to respond to unique demands and opportunities in specific vertical markets. www.indiainsure.com   Media Contact Details Mrs. Meena Nair, India Insure Risk Management & Insuarance Broking Services Pvt. Ltd, ,+91-9849988013   KEYWORDS: Business/ Finance:Accounting & management, Business Services, Insurance, Major diversified industrial groups   To ensure that you continue to receive email from Business Wire India in your inbox, please add businesswireindia.com to your Address Book or Safe List.   To submit a press release, click here. To unsubscribe or modify your Business Wire India settings, please visit your profile page on Business Wire India. Connect with us on: Facebook | Twitter | Google+

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BWI: Intensifying Demand for Municipal Water Supply Drives Indian Water Treatment Systems Market, finds Frost & Sullivan

Source : Frost & Sullivan Tuesday, December 30, 2014 5:30PM IST (12:00PM GMT)   Intensifying Demand for Municipal Water Supply Drives Indian Water Treatment Systems Market, finds Frost & Sullivan Desalination, recycle and reuse systems to dominate the market   Mumbai, Maharashtra, India As India eases into an exciting stage in its economic development, associated opportunities are unfolding in the country’s water and wastewater sector. After power generation, water supply and sanitation is the next high-growth industry, as the need for municipal water expands steadily. With more than 20 metros expected to mushroom by 2032, the water stress will only increase, creating huge demand for water and wastewater treatment systems in the Indian municipal segment.   New analysis from Frost & Sullivan, Analysis of the Indian Municipal Water and Wastewater Treatment Market, finds that the market earned revenue of INR 31,260 million in 2013 and estimates this to reach INR 49,000 million by 2018. Market growth is attributed to the rising population and urbanization. The study covers water treatment technologies such as desalination, clarification, filtration and activated sludge process.   For complimentary access to more information on this research, please visit: http://corpcom.frost.com/forms/EBT_IWTSM   “Widening water-supply demand is the key driver for the municipal water and wastewater treatment market,” said Frost & Sullivan’s Environment & Building Technologies Analyst. “Of the 32 major cities in India, 22 are facing water shortages. Even in cities with comparatively narrower demand-supply gap, shortages are registered due to significant water loss during transmission.”   While demand drives the market, growth will be tempered the lack of proper planning and funds for infrastructure. Municipalities are unable to generate sustained revenues due to low water tariffs, poor meter connections, and a high share of non-revenue water supply. "With water being highly subsidized in India, most municipal corporations are unable to recover the cost of water supply,” stated the analyst. “Alternate sources of water, such as recycle and reuse water for various non-potable municipal applications, is very limited.”   In order to meet the growing water demand, two sustainable options are available – desalination and wastewater recycle and reuse. While desalination has strong potential, treatment of wastewater for recycle and reuse is still in the nascent stage in India. Unlike most of Europe and America, the wastewater recycling and reuse concept is gaining currency in India only now. However, the sector presents tremendous potential, as only 30 percent of the wastewater generated is currently being treated.   “Latest developments in the global desalination segment can be brought to India through joint ventures (JVs),” mentioned the analyst. “In such JVs, domestic water and/or infrastructure companies can meet the civil and structural development needs of desalination plants. These companies can also contribute with relevant technological insights, along with offering operation and maintenance expertise.”   Analysis of the Indian Municipal Water and Wastewater Treatment Market is part of the Environmental (http://www.environmental.frost.com) Growth Partnership Service program. Frost & Sullivan’s related studies include: Point of Use Water Purifier Market in India, Analysis of the Gulf Cooperation Council (GCC) Membrane Elements Market, Analysis of the North America Tertiary and Advanced Wastewater Treatment Equipment Market, Produced Water Treatment Market in Southeast Asia, Global Residential and Light Commercial Water Treatment Equipment Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.   About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.   Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.   The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation. The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.   For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?   Contact Us:     Start the discussion Join Us:           Join our community Subscribe:       Newsletter on “the next big thing" Register:         Gain access to visionary innovation   Twitter: @Frost_MENASA Facebook: FrostandSullivanMENASA     Media Contact Details Ravinder Kaur, Corporate Communications – South Asia Frost & Sullivan, ,+91 (44) 66814413 , ravinder.kaur@frost.com Priya George, Corporate Communications – South Asia Frost & Sullivan, ,+91 (44) 66814414 , priyag@frost.com   KEYWORDS: Business/ Finance:Business Services, Major diversified industrial groups, Water;General:Environment, Govt. & Public Policy   To ensure that you continue to receive email from Business Wire India in your inbox, please add businesswireindia.com to your Address Book or Safe List.   To submit a press release, click here. 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BWI: Varun Beverages Ltd: Bottling Success with Lightning-Fast Performance using SAP HANA®

Source : vCentric Technologies Tuesday, December 30, 2014 3:35PM IST (10:05AM GMT)   Varun Beverages Ltd: Bottling Success with Lightning-Fast Performance using SAP HANA®   Hyderabad, India Varun Beverages along with vCentric Technologies as its implementation partner selects the SAP HANA® platform to improve and accelerate end-to-end financial closing and forecasting and enhance knowledge transfer capabilities. Varun Beverages being a long-time user of SAP® software, the company uses the in-memory computing provided by SAP HANA to run critical business applications in seconds, resulting in greater operational efficiency and faster time to value. Resolution   Engaged vCentric Technologies for the migration of SAP Business Suite to SAP HANA for a real-time data environment by deploying SAP HANA live Key benefits   Faster time-to-value cycles with real-time performance management and faster key processes for critical business operations. Real-time reporting for faster insights, decision making, and planning Faster, more transparent financial transactions, increasing control, improving cost management, and accelerating financial closing   About Varun Beverages Limited: Varun Beverages Limited manufactures and markets soft drinks and bottled water in association with PepsiCo, a global food and beverage leader. The India-based beverage company offers iconic refreshment brands that fall under the Pepsi brand umbrella, including Pepsi, 7 Up, Miranda, Mountain Dew, Aquafina, Tropicana, and Slice. To better manage and grow its business, it sought instant access to key business data. About vCentric: We in vCentric collaborate with clients in various industry sectors to solve their most pressing challenges from strategy through execution. Our employees provide strategic consulting, applications services, technology solutions and managed services to top companies and medium-sized businesses around the world. Our mission is to work with clients to create innovative and practical management and technology solutions that help our clients get sustainable results. Our service offerings are designed to help our clients generate revenue, increase cost-effectiveness, manage regulatory compliance, integrate information and transition to “next-generation” technology. We earn recognition for our client service from leading analysts but are proudest of our high customer satisfaction scores. Clients depend on us to deliver the energy and innovation of new thinking for a changing world.   Media Contact Details Shobana Sai, vCentric Technologies, ,+91-7675942211 , sales@vcentric.com   KEYWORDS: Business/ Finance:Advertising, PR & marketing, Information Technology, Major diversified industrial groups, Manufacturing Companies, Technology;General:Food & Drink, Internet   To ensure that you continue to receive email from Business Wire India in your inbox, please add businesswireindia.com to your Address Book or Safe List.   To submit a press release, click here. To unsubscribe or modify your Business Wire India settings, please visit your profile page on Business Wire India. Connect with us on: Facebook | Twitter | Google+

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BWI: Land Acquisition Norms Amended, Welcome Step: Niranjan Hiranandani

Source : Hiranandani Constructions Pvt Ltd Tuesday, December 30, 2014 2:50PM IST (9:20AM GMT)   Land Acquisition Norms Amended, Welcome Step: Niranjan Hiranandani   Mumbai, Maharashtra, India The Indian Government has taken a welcome step on the issue of land acquisition norms, said Niranjan Hiranandani, MD, Hiranandani Constructions Pvt. Ltd. (HCPL). He was reacting to media reports about the Union Cabinet, chaired by the Prime Minister Narendra Modi, on 29 December having approved certain amendments in the land acquisition norms. These seek to fast-track the purchase process of land, while bringing more projects under the provisions of rehabilitation and compensation of land owners. “While the amendment has the potential to give a boost to affordable housing, it will also facilitate a scenario where infrastructure projects will be fast-tracked. For ‘Affordable Housing’ to become a reality, it will need time bound land acquisition and creation of infrastructure, which the amendment will facilitate. What is most important is that the amendment does not impact the compensation to farmers, while it ensures time-bound acquisition, it remains ‘Socially Correct’ while also being ‘Business Friendly’,” said Niranjan Hiranandani. The amendments relate to Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, pointed out Niranjan Hiranandani, adding that while the Act came into effect from January 1, 2014; stakeholders faced difficulties in its implementation. “Among the welcome changes that the amendment brings about relates to faster processing. The Act resulted in a ‘prolonged’ process for land acquisition, and created a situation where the farmer was able to get benefit; nor could the project be completed in time for the benefit of society at large, explained Niranjan Hiranandani. The amendments allow a fast track process for (i) defence and defence production, (ii) rural infrastructure including electrification, (iii) housing for poor including affordable housing, (iv) industrial corridors and (v) infrastructure projects; including projects taken up under Public Private Partnership mode where ownership of the land continues to be vested with the government. These projects would not need to seek the consent of 80 per cent of the affected landowners. On the impact this would have on ‘affordable housing’, Niranjan Hiranandani pointed out that while it was clear that compensation to farmers would be high, it was obvious that the government intends to acquire land in areas where land prices are not high; and new infrastructure would be created to develop linkages to such new areas. “So, what we will see is locations which are situated at some distance from the Central Business Districts (CBDs); where new infrastructure will ensure better standards of living plus high speed transport to work places. If one considers the concept of ‘Smart Cities’, it is obviously new areas where these will be developed – and the amended norms will help facilitate the same. If one looks at the Mumbai Metropolitan Region (MMR) for instance, the existing local train network has extended the ‘location’ of affordable housing to locations in the Vasai-Virar Region and the Karjat-Panvel Region. Infrastructure development in form of new, high-speed transport options like the Metro and new road links would create a similar situation for locations beyond Panvel and in the periphery of Alibaug; a major infrastructure project like the trans-harbour sea link between Sewree and Nhava would also make affordable housing a reality in these locations,” explained Niranjan Hiranandani. The positive effect of the amendment, said Niranjan Hiranandani, would be visible as regards infrastructure growth. “The amendments will kick-start hundreds of billions of dollars in stalled projects,” he said. Pointing out that restrictions on buying land was among the barriers holding up projects worth almost US$ 300 billion in various sectors, Niranjan Hiranandani pointed out that about 50  per cent of China's economic growth was not just due to manufacturing; but also a result of the urban housing revolution. “As a result of the amendment, in India too, the multiplier effect on GDP will happen due to volumes in housing unit production, and this will enhance economic growth,” he concluded.   Media Contact Details Ritika Shah, Manager - Corporate Communications Hiranandani Constructions Pvt Ltd., , ritikaaries9@gmail.com   KEYWORDS: Business/ Finance:Business Services, Construction & Property, Real Estate;General:Govt. & Public Policy   To ensure that you continue to receive email from Business Wire India in your inbox, please add businesswireindia.com to your Address Book or Safe List.   To submit a press release, click here. To unsubscribe or modify your Business Wire India settings, please visit your profile page on Business Wire India. Connect with us on: Facebook | Twitter | Google+

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BWI: Bengal Layman, Angel for UAE Exchange India Vice President Mr. Jos Babu

Source : UAE Exchange - India Tuesday, December 30, 2014 3:00PM IST (9:30AM GMT)   Bengal Layman, Angel for UAE Exchange India Vice President Mr. Jos Babu   Kochi, Kerala, India Christmas dawned with joyful moments for Mr. Jos Babu, UAE Exchange India’s Vice President and IT Head. Recovering lost valuables, be it small or big, doubles our happiness. Such a good deed was done by Mr. Jitendra Kumar, a Bengali laborer working with the Kochi Metro project. He found and returned a lost bag of Mr. Jos Babu which had diamond necklace, jewelry, and mobile phone on the eve of Christmas. Mr. Jitendra informed police when he found the bag with the valuables, and the bag was returned to its owner, Mr. Jos, by the police. The sincere act of Mr. Jitendra was greatly appreciated by the police and Mr. Jos.     With regard to the incident Managing Director Mr. V George Antony said that ‘The honesty and integrity shown by the Bengal layman helped remove the prejudice about migrant workers. Mr. Jitendra’s honest deed reinforces the famous song by Rabindranath Tagore – Ekla Chalo Re, which spreads the moral message that “if no one responds to your call, then go your own way alone”. If one is right and has the courage to tread un-walked roads, he is sure to bring changes in the society.  UAE Exchange India has taken a step towards honoring such a man who made his honesty prevail over all odds, which is sure to be an inspiration to his natives as well as others.’   As a tribute, UAE Exchange India has decided to provide free Mobile Domestic Money Transfer Service for a period of one year, through which, Mr. Jitendra can send money to his house. He will also be receiving a Lenovo mobile phone. Mr. Jithendra Kumar Sharma along with his two fellow workers Mr. Manoj Sharma and Mr. Subhash will be receiving a free Personal Accident insurance policy with Mediclaim worth Rs.1lakhs from UAE Exchange, India for their earnest action which is really praiseworthy.   Media Contact Details Sheeba Johnson, UAE Exchange - India, ,+91-9048211585 ,+91-484-3047092 , aocommunication@uaeexchange.co.in   KEYWORDS: Business/ Finance:Accounting & management, Advertising, PR & marketing, Banking & Financial services, Business Services;General:People   To ensure that you continue to receive email from Business Wire India in your inbox, please add businesswireindia.com to your Address Book or Safe List.   To submit a press release, click here. To unsubscribe or modify your Business Wire India settings, please visit your profile page on Business Wire India. Connect with us on: Facebook | Twitter | Google+

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BWI: Information Technology (IT) to Streamline Entire Value Chain of the Indian Iron and Steel Industry, notes Frost & Sullivan

Source : Frost & Sullivan Tuesday, December 30, 2014 1:20PM IST (7:50AM GMT)   Information Technology (IT) to Streamline Entire Value Chain of the Indian Iron and Steel Industry, notes Frost & Sullivan   Mumbai, Maharashtra, India The Indian steel is witnessing a new era of development from 2008, riding high on the growing economy and increasing demand for steel. Recent analysis from Frost & Sullivan has marked the iron and steel industry as one of the sunshine sectors in India. India is the fourth largest producer of crude steel globally in 2013 as against the eighth position in 2003.   It continues to maintain its leading position as the world’s largest producer of Direct Reduced Iron (DRI) or sponge iron, with more than 300 memoranda of understanding (MoUs) being signed with various states for planned capacity around 488.56 Million Metric Tons (Mn MT) States of Odisha, Jharkhand, Karnataka, Chhattisgarh, and West Bengal will witness major investment plans in India.   The steel sector contributes to nearly 2 percent of the country’s GDP and employs over 5 lakh people in India. The intended steel capacity build up in the country is likely to result in an investment of INR 5-10 trillion by 2020. Per capita steel consumption has risen from 38 kgs in 2005 to 59.2 kgs in 2013 and crude steel production in the last 10 years (Exhibit 1) has increased from 31.8 Mn MT to 87.7 Mn MT at a CAGR of 10.7 percent due to advancements in traditional steel making. Total installed capacity for crude steel production in 2013 was to the tune of 102 Mn MT and capacity utilization was in the range of 80 percent; total expected capacity for 2015–16 would be around 112.5 Mn MT. Indian finished steel production grew at a CAGR of 7.5 percent from 51.4 Mn MT in 2008 to 73.7 Mn MT in 2013. The Indian iron and steel industry is already in the developed and consolidation stage, in terms of the production process. However, major domestic steel manufacturers are now in the process of implementation of Information Technology (IT) to streamline the entire value chain. Emerging competitive challenges faced by steel manufacturers presently are:         Reduce time-to-market       Increase manufacturing process visibility       Increase production flexibility       Optimize forecasting and scheduling       Reduce rejects, stocks, and downtime       Ensure optimal quality and production efficiency   The main areas where IT can play an important role in the Indian steel industry are:         Advanced Planning and Scheduling for production       Entire Metals Supply Chain Management including raw materials       Manufacturing Execution Systems (MES) More than 60 percent of steel consumption in the country has traditionally been from the construction and infrastructure sectors which registered the highest growth rates over the past five years among steel-intensive industries. With steel demand driven by increasing infrastructure development and the automotive industry, steel consumption is expected to grow at a rate of 6.8 percent, to reach 104 Mn MT by 2017.  Considering investment opportunities in the steel sector, upcoming Greenfield and Brownfield projects as well as growth trends of the different end-user industries, projected crude steel capacity in the county is expected to reach 140 Mn MT by 2016 from the current capacity of around 100 Mn MT in 2013.   The Indian Government is also proactively providing incentives to boost economic growth by injecting funds into various industries such as construction, infrastructure, automotive, and power, which will drive the steel industry in the future. Hence, it can be concluded that in spite of chronic handicaps like poor infrastructure, the Indian steel industry is forging ahead. All indicators suggest that India will soon move up from the fourth to the second position in the world both in production and consumption.   To know more about this Sectoral Analysis or the Metals and Minerals Practice please get in touch with our Corporate Communications Team, or send an email to Ravinder Kaur/Priya George at ravinder.kaur@frost.com / priyag@frost.com with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country.   About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.   Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.   The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation, and implementation. The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.   For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organisation prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?   Contact Us:     Start the discussion Join Us:           Join our community Subscribe:       Newsletter on "the next big thing" Register:         Gain access to visionary innovation Twitter: @Frost_MENASA Facebook: FrostandSullivanMENASA To view the PDF, please click on the link given below: Exhibit 1: Indian Annual Crude Steel Production (Mn MT)     Media Contact Details Ravinder Kaur, Corporate Communications – South Asia Frost & Sullivan, ,+91-9940141714 ,+91 (44) 66814413 , ravinder.kaur@frost.com Priya George, Corporate Communications – South Asia Frost & Sullivan, ,+91-9840355432 ,+91 (44) 66814414 , priyag@frost.com   KEYWORDS: Business/ Finance:Business Services, Information Technology, Major diversified industrial groups, Steel   To ensure that you continue to receive email from Business Wire India in your inbox, please add businesswireindia.com to your Address Book or Safe List.   To submit a press release, click here. 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