Indholdsfortegnelse for October 2023 i Outlook Business

Business travel has always been a coveted perk of a corporate job. The thicker the passport, the bigger the bragging rights. However, the sad reality is that visa stamps do not equal meaningful experiences. For instance, an offsite to Istanbul wears little if all you can do is admire your hotel's corference rooms and manage a token cruise or the Bosphorus with your office mates, ft is certainly not enough to justify the heavy carbor footprint you racked up to get there. Corporate travel can be made more meaningful by “staying a little longer”, a catchphrase that tourism boards worldwide use to entice business travellers to extend their stay. Even a two-to-three-day extension can help offset the carbon load, benefit the local economy and help you enrich yourself with some…

OUTLOOK BUSINESS INITIATIVE Sambhv Sponge Power Pvt. Ltd. Operating under the brand name “Sambhv Steel”has PAN India market presence for their existing manufactured products. Sambhv Steel started from manufacturing of Sponge Iron in the year 2018 and rose to an Integrated Steel plant, way before envisioned by Sambhv Steel'S founder Mr. Brijlal Goyal. His legacy is now being carried forward bv his four Sons. Sambhv Steel has been able to adhere to high business standard because of its in-house research, product testing facility and manufacturing premium quality products. PLANT CAPACITY: SAMBHV Sponge Power Pvt. Ltd. has a state-of-the-art manufacturing facilities with an impressive production capacity of One million tons of steel products annually and is expanding. This capacity has been achieved through continuous investments in advanced technology and efficient production…

ESG CHECK-IN FOR RESPONSIBLE HOSPITALITY PLANET, PEOPLE, PROFIT PLEASE MAKE THE ROOM Green While the concept of responsible business has been around for some time now, it is only since the turn of the century that it has evolved into a benchmark—the environmental, social and governance (ESG) performance—against which companies are being constantly scrutinised for their commitmentt owards the environment and the people they work with. The tourism industry is no exception. “Given the direct interactions between tourism industry operators, the environment, and communities the importance of ESG in tourism cannot be overstated,” states the United Nations World Tourism Organisation (UNWTO) in an article titled ESG Framework for Tourism Business. It explains sustainable tourism as making optimal use of environmental resources and conserving natural resources and biodiversity, respecting the socio-cultural authenticity…

In the fast-evolving landscape of Indian Life Sciences, Genetix Biotech stands as a shining example of visionary leadership and groundbreaking innovation. Spearheaded by Mr. Arun Prakash, a firstgeneration entrepreneur, Genetix has traversed a remarkable journey, setting the gold standard in the industry. A Trusted Brand in Life Sciences Genetix Biotech's three-decade-long journey in the Life Sciences sector has been nothing short of remarkable. The brand's commitment extends beyond delivering high-quality products; it is about providing seamless and topnotch services through a vast Nationwide network with six regional offices interlinked through SAP technology and a dedicated team of sales representatives across major Indian cities, Genetix ensures excellence at every touchpoint. They have also developed state of the art POCT RT-PCR and test for MTB/MDR. Leading Amidst Challenges Genetix Biotech's dedication to…

In the realm of entrepreneurship, there are individuals whose journeys leave an indelible mark on the world. Dr. Satish Wagh, a first-generation Maharashtrian entrepreneur, is undeniably one of them. With a remarkable vision to conduct ethical business, provide employment opportunities, and contribute to economic growth, Dr. Wagh founded Supriya Lifescience Ltd. in 1987, a company that has since become a shining example of success and social responsibility. A Legacy of Excellence Dr. Wagh's journey is a testament to the power of determination and perseverance. He holds double degrees in Chemistry and Economics, and his dedication to entrepreneurship led him to earn a prestigious Doctor of Philosophy in Entrepreneurship from The National American University. With over 36 years of rich experience in the Pharma and Chemical industry, he has been a…

Prime Minister Narendra Modi laying the foundation stone of the Kashi Vishwanath Dham beautification project in Varanasi in Uttar Pradesh in 2019 In December 2021, Prime Minister Narendra Modi inaugurated the Kashi Vishwanath corridor, connecting the Kashi Vishwanath temple to the adjacent Ganga river. The sprawling corridor, spanning over five lakh square feet and constructed at a cost of Rs 339 crore, houses 23 buildings, including a tourist facilitation centre, city museum and viewing gallery among others. Ten months later, in October 2022, Modi inaugurated the magnificent Mahakal Lok corridor in Ujjain, which was constructed at an estimated cost of Rs 860 crore. These two corridors hold the story of the government's push for spiritual tourism at a time when the tourism sector has not yet fully recovered from Covid-19…

01 NEW YORK New York is my favourite business destination. The incredible energy and vibrant atmosphere of the city's business districts is unlike any other location in the world. What's more, it is beautifully contradicted by the lush greenery of Central Park. The bustling streets, iconic landmarks and the constant buzz make it an unforgettable place. 02 LONDON London holds a special place in my heart. The tranquillity of Hyde Park provides the perfect backdrop for my runs, offering a peaceful escape amidst the city's hustle and bustle. Additionally, my taste buds are truly indulged as I explore the diverse and exquisite culinary scene that London has to offer. From quaint cafes to gourmet restaurants, this city's gastronomic delights never cease to amaze me, making London a destination that satisfies both my…

India's booming economy and rising number of business visitors have contributed to the spectacular expansion of the country's outbound meetings, incentives, conferences and exhibitions (MICE) travel sector. Unfortunately, the same is not the case for the inbound MICE market. India attracts less than 1% of the worldwide MICE industry despite its extensive history, tourist attractions and new economic centres. One of the significant factors hurting India's inbound MICE sector is the need for more conference and exhibition facilities. Large-scale conventions, trade shows and meetings rely heavily on these locations. Sadly, India's conference facilities have limited capacity and amenities, making it challenging to host international MICE events. Attracting foreign delegates also requires an adequate transportation infrastructure, such as well-connected airports and a dependable public transit system. While many of India's larger…

If tourism had grown so well and so consistently, with little, if any, encouragement, what it would do with some help and support,” Antonio Savignac, former secretary general of the United Nations World Tourism Organization (UNWTO) and onetime planning and finance minister of Mexico, had said in a National Tourism Day lecture in Delhi 25 years back while discussing the importance of tourism in Mexico. These words reflect the general feeling in the Indian hospitality industry as well and to this day. The Indian hospitality sector has a proud history of building a world-class industry which is known for excellence in service. Much of that history is built on what has now become the mantra of business, that is atmanirbharta. During this time, the industry never asked for any prop…

TAG HEUER CONNECTED CALIBRE E4 INR 1,78,500 With smart wearable technology, TAG Heuer Connected Watch offers a seamless amalgamation of luxury and performance. The chronograph style 45 mm case, made from ultra-light titanium grade 2, matches the black sandblasted ceramic bezel FOSSIL TRAVEL FRAMED SHAVE KIT INR 7,495 This perfectly sized shave kit, made with quality leather, comes with one slide pocket, one zip pocket and estate brass hardware, adding style to your travel TUMI CONTINENTAL DUAL ACCESS 4 WHEELED CARRY-ON INR 1,94,900 This stylish suitcase features four dual spinner wheels, a three-stage telescoping handle and a TSA-approved combo lock to make your travel organised and safe LARQ BOTTLE INR 11,031 While its double-wall vacuum insulation keeps the water cold for 24 hours, an easy-access straw that comes with LARQ…

TRUSTED Brands & Leaders In the ever-evolving realm of India's electric vehicle (EV) transformation, one individual stands out as an influential figure, driving change on multiple fronts. Iftikhar Ali, a serial entrepreneur with an unswerving commitment to environmental sustainability, has become a transformative force behind the surge in EV adoption and the establishment of a robust charging infrastructure across the nation. In a convergence of government policies, growing environmental awareness, and technological advancements, India has witnessed a significant uptick in EV adoption. However, the nation faces the formidable challenge of creating a widespread and dependable EV charging network. It is in this context that the pioneering enterprise, PiEV, founded by Iftikhar Ali in 2021, takes center stage. Ali's motivation for establishing PiEV is his dedication to accelerating EV adoption by…

TRUSTED BRANDS & LEADERS In the annals of women's socioeconomic empowerment, few names shine as brightly as that of Dr. Hina Shah, the visionary founder of the International Centre for Entrepreneurship & Career Development (ICECD). For decades, Dr. Shah has been at the forefront of a transformative movement, reshaping norms and challenging societal biases that have long constrained women's potential. Championing Change: Dr. Hina Shah's Vision Dr. Hina Shah embarked on her journey in the early 1980s, a time when opportunities for women to attain significant positions in a male-dominated world were scarce. Undeterred by these obstacles, her unwavering determination fueled a passionate mission to empower women economically. Her vision was clear: to break free from limitations imposed by society and redefine women's roles. ICECD: A Catalyst for Empowerment Established…

In the annals of India's industrial legacy, one name stands out for its unyielding dedication and pioneering spirit - Shyam Steel. Established in the year 1953, this institution has evolved into a bastion of TMT bar production within the Indian steel pantheon, for its commitment to crafting safe and sustainable steel. The Beginning of a Legacy The saga of Shyam Steel began with its maiden factory, in the precincts of Howrah, West Bengal. It was the beginning of a world-class institution renowned for cuttingedge technology, stringent quality control, and perfect professionalism. Multi-decade success derived from proactive transformation The year 2005 witnessed Shyam Steel's first integrated steel plant in Durgapur. Being an early adopter of cutting-edge technology, such as the Electric Arc Furnace, Shyam Steel rapidly established itself as one of…

FOR THE PLEASURE OF WAITING Every person who has travelled on an aircraft knows what it is to wait at the airport for the flight. A growing number of airports worldwide are going beyond mere functionality, offering amenities and facilities that turn waiting into an enjoyable part of the journey. Here, we explore top seven airports worldwide, as per the Skytrax World Airport Awards 2023, a global benchmark of airport excellence. These airports have set new standards for providing exceptional experiences, ensuring that travellers have comfortable, entertaining and even rejuvenating waiting time. CHANGI AIRPORT SINGAPORE Singapore Changi Airport consistently tops various lists and has been recognised as the world's best airport for several years by Skytrax, an airport and airline rating platform. The Changi airport has an array of facilities,…

IDFC FIRST Bank has posted stellar results in the recent past. Riding on its digital capabilities, the bank is looking at constant innovation to serve its customers better. In a freewheeling interview with Suchetana Ray, editor, Outlook Business, and Nidhi Sinha, editor, Outlook Money, the bank's executive director and chief operating officer Madhivanan Balakrishnan talks about the bank's strategies, including the use of its digital capabilities, to enhance customer experience. Edited excerpts: Customer deposits were up 44% in the first quarter at IDFC FIRST Bank, and retail deposits formed about 77% of this growth. There is talk about the new post-pandemic bank customer wanting more. How is the bank reinforcing its commitment towards its customers? For us, customers are a priority, which gets reflected in our catch line “Always You…

There are multiple shades and segments of tourism. The most notable among them are leisure, corporate, medical, educationand government-related and special interest travel. The last category includes travel for sports, films, adventure, pilgrimage and so on. Geographically, these forms of travel can be inbounded to or outbound from a country on a short haul or for long distance and for varying periods. Corporate travel is presumed to be the most dominant travel and tourism segment, because it directly correlates to a country's economy and trade. The higher the growth of the domestic economy and its international trade relations is, the greater the corporate travel into, out of and within the country gets. Overcoming Covid-19 The only time this correlation broke was during Covid-19. While economies grew, their correlation to travel…

Business travel was once a badge of honour. As corporate soldiers, we once used to march around at airport lounges, dressed in our navy and grey suits, holding on to our leather carry-on bags, with a copy of The Financial Times tucked under our arms. Accumulating reward miles was our favourite game—one in which we would compare miles with other business travellers as if more points denoted that we worked harder than the rest. Red-eyed and constantly on the move somehow justified our existence. However, a shift has happened in how we look at business travel. It is no surprise that Covid-19 has upended the way we work. It is a given that hybrid work is here to stay. What is uncertain, though, is how the future of business travel…

Retirement is a phase of life that every individual looks forward to. It marks the culmination of years of hard work and dedication. As you approach this new chapter, reminiscent of Gene Perret's witty words,“Retirement: It's nice to get out of the rat race, but you have to learn to get along with less cheese.” So, it becomes essential to plan ahead to ensure financial stability and peace of mind during your golden years. Here is a lowdown. Why Plan for Retirement Retirement planning is not just a financial exercise; it's a strategic approach to safeguarding your future. While many may consider retirement as a distant milestone, the earlieryou start planning, the better your chances of building a substantial nest egg. The benefits of retirement planning are manifold: • Financial…

Manodh Mohan: From Adversity to Innovation - The Journey of Skyislimit Technologies In the world of entrepreneurship, some stories reflect the indomitable spirit of human determination and resilience. The tale of Dr. Manodh Mohan, Founder & CEO of Skyislimit Technologies, is one such narrative that serves as a beacon of hope for young minds aspiring to conquer the challenges of the business world. Dr. Mohan, an unwavering believer in the mantra, “Every problem has a solution,” has not only lived by these words but has also translated them into a remarkable success story. Manodh's journey began with a job as a flight steward at Air Deccan. However, life had other plans for him. Within six months, he had to relinquish his job to support his family, who were on the…

Kumar P. Saha is a trailblazing leader who has elevated Senrysa Technologies to iconic status in the ever-evolving business landscape. With 15 years of dedication to reshaping the technology industry, Kumar is not your typical leader; he's a visionary icon known for his forward-thinking approach and unwavering commitment to innovation. Kumar's unique talent lies in recognizing and harnessing emerging technologies, enabling him to foresee their broad impacts on various industries. He's a dedicated researcher who anticipates opportunities and challenges, strategically shaping the future of technology. Kumar's deep understanding of tech domains and his passion for problem-solving have been pivotal in his remarkable journey. Within his organizations, Kumar fosters a culture of innovation, encouraging his teams to think creatively and explore new horizons. He champions an environment where experimentation is not…

Investing in Indian markets has become quite interesting in recent years. This is not just about indices rallying sharply but many new trends are playing out well over the past few years. Sample these pointers: Indian markets have lower dependence on foreign inflows; investors have found passive products well-suited for some of their requirements; ESG (Environmental, Social and Governance) funds have found reasonable interest; AI-based Quant schemes are finding increased takers; and multi-asset funds are being favoured due to better riskadjusted returns and favourable taxation as debt funds face adverse tax treatment. Here's more on each of these evolving trends in the Indian markets. New dynamics driving Indian markets • Markets steady even during FII outflows, due to domestic support: In the past FII exits meant stiff corrections as their…

How does it feel to receive this prestigious award? As I often say, the real reward is not in the recognition, but in the work itself – the satisfaction of making something truly innovative that can change the world. It isn't an endpoint but a reminder that we must continually do the work, push boundaries, and stay foolish in our pursuit of revolutionizing the massive insurance industry. While I am honored, I see this as a symbol of what we've accomplished as a team and what we can further achieve together. How would you use being the recipient of this award to influence others and how would it impact your organization? We look forward to fostering partnerships, attracting talent, enabling innovation, and expanding customer base in technologies that enhance road…

WoW CLUB Founder: SUMITRA SENAPATY Founded: 2006 WoW (Women on Wanderlust) Club caters exclusively to women and boasts of more than 10,000 regular customers. It offers exclusive international trips as well as signature trips led by the founder. LADAKHI WOMEN'S TRAVEL COMPANY THINLAS CHOROL (R) 2009 Ladakhi Women's Travel Company primarily operates in Ladakh and caters to national and international clientele interested in trekking expeditions. It also promotes ecotourism in Ladakh and has been pushing for higher recruitment of women guides. WOMEN ON CLOUDS SHIREEN MEHRA 2009 Women on Clouds focusses on leisure and hospitality, offering luxury travel experiences. Apart from travel trips, it also encourages its clients to bond as a community. WANDERING JANE GARIMA PANDE and AKSHAT SHARMA 2017 Wandering Jane offers trips across India and southeast Asia.…

NITIN GADKARI HIGH ON HIGHWAYS FUTURE SENSE Within the story of India's rapid infrastructure development, it is hard to miss the swanky expressways and highways that are giving the much-needed thrust to the country's ambitions. The man behind the massive infra push is Nitin Gadkari, minister of road transport and highways. In conversation with Neeraj Thakur and Rajat Mishra, Gadkari talks about his strategies for growth and dealing with issues like land acquisition and infrastructure financing. He also responds to the Comptroller and Auditor General's charge on Dwarka Expressway. Edited excerpts: BY THE END OF FY24, OUR NATIONAL HIGHWAY NETWORK WILL BE EQUIVALENT TO THE ROAD NETWORK OF THE USA Since 2014, India has seen massive infrastructure development. How did you manage to develop infra projects in India at a fast…

It was the tagline of the book Quiet by Susan Cain—The Power of Introverts in a World That Can't Stop Talking— that caught the attention of Amit Choudhary, chief operating officer of information technology services major Wipro. He rates it as one of his top three all-time favourite books. “I am a social introvert,” says Choudhary. It may sound paradoxical, he admits, as he explains that he loves socialising “within the boundaries of being an introvert”. Outside his work, he prefers activities—like playing sports, board games, watching movies, etc.— that allow him to spend time with his family and close friends. “Sports is not something I play for passion or out of competitiveness. It is something that I can do to relax and spend time with my family,” he says.…