Category: Business

Increff, a leading innovator of inventory optimization solutions for e-commerce, fashion, and retail brands, today launched its first-ever ‘E-commerce Festive Season Sales Report – 2021‘.The findings are based on the fashion and apparel sales data of over 1.5 million ordesrs processed by Increff’s Warehouse Management System (WMS) during the Flipkart Big Billion Day (BBD) & Amazon Great Indian Festival sale this year. The pandemic upended the retail industry in 2020, with many businesses either perishing or struggling to survive multiple lockdowns and other developments. However, with the gradual decrease in COVID cases, 2021 saw the Indian e-retail market grow by 25% despite a 2-month national lockdown and multiple prolonged disruptions in regional pockets over the year.* Increff’s E-commerce Festive Season Sales Report 2021 findings’ corroborated this fact that businesses were seen getting back on track with a higher revenue contribution from the top 20 cities in 2021 vis-a-vis 2020. Speaking on the launch of the report, Anshuman Agarwal, Co-founder, Increff said, “Despite the pandemic’s large-scale disruptions, this year we observed the return of the festive cheer and delight that comes with shopping especially during the festive sales. Through this report, our aim is to instill a sense of confidence in e-tailers, especially those who have faced losses during the pandemic by showcasing that businesses across scales are bouncing back strongly more than ever now. We at Increff will continue to play the role of a catalyst in supporting the growth of Indian fashion & apparel businesses by equipping them with cutting-edge technologies like WMS to foster their growth.” Other key findings from the report were: ·         Region-based ·         Bangalore, Hyderabad & Pune contributed to 12.6% of total revenue during the Flipkart & Amazon festive sales, but shopped at lower ASPs and higher discounts as compared to the national average ·         The highest percentage of COD orders, 71%, was received from the North-Eastern states, indicating the fear of order cancellations due to inconsistent delivery time and uncertainty of order fulfillment ·         During both the sales this year, there was a higher revenue contribution from East India as compared to West India. East also shopped at a higher ASP (INR 1,178) & lower discount compared to the national average (54%) ·         Gender-based ·         Women’s wear was shopped more (40.7%)as compared to Men’s (38.2%) and Kidswear (21.1%) ·         Category-based ·         While both men’s and women’s shopping trends were driven by discounts, women’s buying (61.4%) was much more influenced by discounts than that of men (54.5%) ·         Due to lockdown and extended periods of work-from-home, people were observed to be looking for relaxing options like track pants. Athleisure wear was also more in demand compared to jeans & trousers ·         Jackets and sweatshirts were one of the top choices among the buyers in the clothing categories with high revenue contributions. Jackets had the highest ASP of INR 2,154 and a discount percentage of 55%, whereas Sweatshirts were sold at an ASP of INR 1,211 and a discount percentage of 57% About Increff Increff helps fashion brands & retailers optimize inventory and improve sales velocity by 2 to 3x via Assure and Iris platforms. Backed by Binny Bansal, Sequoia, and 021 Capital, Increff serves the likes of Aramex, Namshi, hummel, GAP, GANT, Landmark Group, Lenskart, Puma, Celio, Pepe Jeans, Levi’s, Calvin Klein, Tommy Hilfiger, Adidas, Vero Moda, Wincanton, Mango, Blackberrys, Amazon among others. For more information, please visit www.increff.com. *Reference: Bain & Company and Flipkart Report titled – How India Shops Online 2021

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Partnership between Russia and India in the fight against COVID has already demonstrated significant results, and the Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund) strives to expand it through providing the one-shot Sputnik Light vaccine and Sputnik M vaccine (for adolescents).

The Russian Sputnik V vaccine, which is one of the safest and most effective vaccines in the world (as demonstrated by the real-world data from Hungary, San Marino, Argentina, Serbia, Bahrain, Mexico, UAE and others) is already used in India following an emergency use authorization in April 2021. Sputnik V became the first foreign-made vaccine used in India.

Sputnik V has been authorized in 71 countries with total population of over 4 bn people. To facilitate the necessary production capacities, RDIF has reached agreements with the leading Indian pharmaceutical companies, including Serum Institute of India – the world’s largest vaccine producer, as well as Gland Pharma, Hetero Biopharma, Panacea Biotec, Stelis Biopharma, Virchow Biotech and Morepen. Today India is the leading production hub for Sputnik V and Sputnik Light vaccines.

Currently, RDIF is actively cooperating with India’s regulatory authorities on registration of Sputnik Light (the one-shot vaccine based on human adenovirus serotype 26, the first component of the Sputnik V) as a standalone vaccine and a universal booster and expects it to be authorized in the country soon. A major partner of RDIF, Dr. Reddy’s Laboratories, has conducted additional clinical trials of Sputnik Light in India. Positive data from these trials has also been presented to India’s regulator.

One-shot Sputnik Light is a highly effective vaccine: the latest findings by the Gamaleya Center based on data from 28,000 subjects in Moscow have demonstrated that Sputnik Light administered standalone has 70% efficacy against infection from the Delta variant of coronavirus during the first three months after vaccination. The vaccine is 75% effective among subjects under the age of 60. Efficacy of Sputnik Light as a booster against Delta variant for other vaccines will be close to the efficacy against the Delta variant of the Sputnik V vaccine: over 83% against infection and over 94% against hospitalization.

Sputnik Light has proven to be safe and highly effective by real-world vaccination data. In particular, the vaccine has demonstrated efficacy of between 78.6-83.7% among the elderly as confirmed by the Ministry of Health of Buenos Aires, Argentina. Paraguay’s Ministry of Health also found Sputnik Light to be 93.5% effective during the country’s ongoing vaccination campaign.

Interim results of the study in Argentina on heterologous regimens combining Sputnik Light and vaccines produced by AstraZeneca, Sinopharm, Moderna and Cansino have shown Sputnik Light is an effective universal booster for these vaccines.

Results of a separate joint clinical trial of a combination of Sputnik Light with the AstraZeneca vaccine have demonstrated that it induces strong immunity and has a high safety profile.

AstraZeneca vaccine is produced in India under the Covishield brand and Sputnik Light could be successfully applied as a booster in partnership with Serum Institute of India, which already produces the two vaccines.

RDIF has also provided India’s regulator with documents for registration of Sputnik M – the vaccine for adolescents aged 12-17. Russia’s Health Ministry registered Sputnik M on November 24, 2021. It has become a new member of the Sputnik vaccines family and is offered to international markets joining Sputnik V and Sputnik Light.

Subject to positive decision of India’s authorities, Sputnik M could become the first registered vaccine for adolescents in the country and make an important contribution in protecting the younger population.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund, commented:

“Russia and India have joined forces since the beginning of the pandemic, with this strategic partnership including production of Sputnik V and Sputnik Light vaccines. A number of agreements with partners in India have helped RDIF to significantly increase our production capabilities. We are ready to offer the Sputnik Light vaccine and the Sputnik M vaccine for adolescents to support strong herd immunity in India and continue saving millions of lives.”

The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund) announces that the Kingdom of Saudi Arabia has granted approval for entry of individuals vaccinated with the Russian Sputnik V vaccine starting from January 1, 2022.

Saudi Arabia joined 101 other countries approving entry of individuals vaccinated with the Sputnik V vaccine following the extensive cooperation and discussions between Ministry of Health of Saudi Arabia and RDIF, supported by the Ministry of Investments of the country. Granting approval for Sputnik V vaccinated to visit Saudi Arabia and further joint steps in fighting the pandemic were in focus of the meeting between Health Minister of Saudi Arabia Fahad Al-Jalajel, Minister of Investment of Saudi Arabia Khalid Al-Falih and RDIF CEO Kirill Dmitriev in Riyadh earlier in November.

The decision reached will enable Muslims from all over the world vaccinated with Sputnik V to participate in the Hajj and the Umrah pilgrimages to Islam’s holiest sites in the cities of Mecca and Medina.

Upon entering the country, persons vaccinated with Sputnik V will be required to quarantine for 48 hours and take a PCR test.

Countries opening their borders for those who have received the Sputnik V vaccine are demonstrating the will to help their tourism industry and businesses to recover more quickly. As Saudi Arabia opens its borders for the Sputnik V vaccinated, this decision will play an important role for increasing the tourist flows and establishing new business ties between Russia and Saudi Arabia, including through activities of The Russia-Saudi Economic Council.

Established in 2019, The Council aims to develop bilateral economic and trade ties as well as investments between Russia and Saudi Arabia across all sectors. It is Co-Chaired by Kirill Dmitriev, CEO of the RDIF and HRH Prince Abdullah bin Bandar bin Abdul Aziz, the Kingdom’s National Guard Minister.

Overall, separating authorization of COVID vaccines from vaccination certificates is another important step to avoiding vaccine discrimination and supporting governments’ efforts in safely re-opening borders for both locals and tourists.

Key requirements of 102 countries which allow visits following Sputnik V vaccination[1]:

• Sputnik V vaccinated individuals may visit a total of 31 countries without any additional COVID-19 related approval;
• Other 71 countries request negative PCR or positive antibody tests or have additional requirements at entry.

Only 15 countries require vaccines other than Sputnik V. Only 5 of these countries (less than 9% of international travel journeys), including the U.S. (representing less than 3%), fully rely on the WHO’s approved list of vaccines which Sputnik V is expected to be added to this year.

Sources: ministries of respective countries, tourism sites

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India’s best known personalities unite to ponder on nation’s shared future in 2022 over 2 days of discussion and debate

Aaj Tak, India’s no.1 Hindi news channel, returns with “Agenda Aaj Tak”, the biggest thought-platform for debates and discussions in the Hindi language. It is set to be held at New Delhi’s Le Meridien Hotel on December 3rd & 4th, and will bring together India’s most recognizable and celebrated names across the realms of politics, entertainment, business and social welfare to ponder on the big questions that lie in store for Indians as they usher the new year.

The theme of the event is: “Naye Daur mein Likhenge Nayi Kahani” (new stories written for a new age), capturing how a resurgent nation, emerging victorious from the turmoil of the year 2020, is set to write a new chapter of change for itself in various ways.

The event will unite marquee leaders to decide the nation’s “agenda”- across its most important spheres. Shri JP Nadda, Chairman of the Bharatiya Janata Party, will deliver a keynote on the party’s vision and mission for the upcoming elections while Smt. Nirmala Sitharaman, hon. Finance Minister of India will offer insights on India’s financial outlook. The event will also witness the presence of eminent union cabinet ministers like Nitin Gadkari, Jyotiraditya Scindia, Ashwini Vaishnaw, Kiren Rijiju and Mansukh Mandaviya. This will also be the first time when Union Agriculture Minister Narendra Singh Tomar will be seen addressing a public gathering, post the 3 controversial farm bills got repealed.

The event will also be graced by prominent Chief Ministers like Shivraj Singh Chouhan, Bhupesh Baghel, Arvind Kejriwal and Charanjit Singh Channi, who will talk about the issues that are relevant to their respective states.

Leaders like Salman Khurshid, Asaduddin Owaisi, Manish Tewari, Randeep Surjewala across all political spectrum will also mark their attendance in the 2 day event. Bollywood celebrities like Aayushmann Khurrana, Kiara Advani, Sara Ali Khan, Kriti Sanon, Sonu Sood, Kartik Aryan, Aanand L Rai and Ayush Sharma will talk about their individual journeys. Other celebrities like Raveena Tandon, Ashutosh Rana and Shweta Tripathi who are known to voice out their opinion strong and loud, will be seen participating in an open dialogue.

Agenda Aaj Tak 2021 will pose and attempt to engage with the biggest questions of the day in empowering, innovative ways- in the nation’s language, to reach and inspire the nation’s most important voices. Scan tune into all the engaging discussions on Aaj Tak and Aaj Tak HD channels or online on December 3rd and 4th, 2021 for a live broadcast.

The event will stream live on www.aajtak.in

Know more here: https://www.aajtak.in/agenda-aajtak/2021

85% out of total generated compostable/organic waste lands in Landfills Indian Biogas Association

 

 

Indian Biogas Association (IBA), an association of operators, manufacturers and planners of biogas plants, today said that Biogas Industry can help reduce waste landing at landfill sites by almost 50% in next three years.

The per capita generation of waste in India stands at 0.4 kg out of which roughly 50% is organic in nature and can be potentially diverted to biogas plants. Estimated waste generated in India is roughly 2.5 lacs metric tons per day and presently over 85% out of the total generated organic waste reaches the landfill sites. This waste leads to production of hazardous gases like Methane, and Carbon dioxide, Ammonia, and Hydrogen sulfide and are a great concern of human health and environment. Several research show that people living closer to landfill sites suffer from medical conditions such as asthma, diarrhea, stomach pain, reoccurring flu, cholera, malaria, cough, skin irritation, cholera, and diarrhea more than the people living far away from landfill sites.

Indian Biogas industry can be instrumental in reducing compostable waste in various states. Presently, the industry is using minuscule fraction of the highly potent organically degradable waste across country for generating Biogas/ Bio CNG/CNG. Biogas industry can contribute significantly in reduction of this waste, if the scheduled commissioning of plants across India undertakes on time. Presently, there are around 200 odd biogas / CBG plants with processing capacity of approximately 20,000 metric tons per day of all kinds of potential organic waste including MSW and other wastes like industrial waste, agro-residues etc. that are commissioned or in different stages of plant installation across India under various Government schemes like waste to energy scheme of MNRE and Solid Waste Management rules, 2016.

Dr. A R Shukla, President, Indian Biogas Association said, “The kind of waste, which lands in waste disposing sites, if utilized well, could help India meet a considerable fraction of Green House Gas (GHG) reduction commitments at global level. Biogas industry can be a game changer, particularly in helping metro cities fight the waste management issue by almost 50% of the waste generated is compostable and can be used by our industry. The Government can help industry by providing much needed support in the form of subsidies. There are more than 2000 pending new biogas plants, if these are commissioned within the targeted time, they can not only lead to better environment for the younger generation but can also help reduce the import bill of the Government.”

“Biogas industry can help reduce yearly import bill by INR 1.1 lakh crore post commissioning of proposed Government target of 5k biogas plants,” he further added.

The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund) today announced the Russian single-component Sputnik Light vaccine against coronavirus has been approved by the Ministry of Health and Prevention (MOHAP) of UAE as a universal booster shot for all the vaccines against coronavirus that are used in the country.

Booster dose is available to all residents aged 18+ and can be applied six months after the second dose of any other vaccine administered in UAE.

Sputnik Light vaccine is based on human adenovirus serotype 26 which is the first component of the Sputnik V vaccine. The one-shot vaccine was authorized in UAE in October 2021.

In January 2021 UAE’s regulatory authorities also authorized the two-dose Sputnik V. Both Sputnik Light and Sputnik V vaccines have been approved by MOHAP under the emergency use authorization procedure.

One-shot Sputnik Light is a highly effective vaccine when used both on standalone basis and applied as a booster. The latest findings by the Gamaleya Center based on data from 28,000 subjects in Moscow have demonstrated Sputnik Light vaccine administered standalone has 70% efficacy against infection from the Delta variant of coronavirus during the first three months after vaccination. The vaccine is 75% effective among subjects under the age of 60.

Efficacy of one-shot Sputnik Light as a booster against Delta variant for other vaccines will be close to the efficacy against the Delta variant of the Sputnik V vaccine: over 83% against infection and over 94% against hospitalization.

A one-shot vaccination regimen of Sputnik Light has a number of key advantages, including ease of administering the vaccine, monitoring and more flexible re-vaccination schedule when used as a booster.

Sputnik Light has demonstrated a superior efficacy compared with some two-shot vaccines, which have shown a major decline in efficacy against the Delta variant to less than 50% five months after injection. Standalone use of Sputnik Light also provides much higher efficacy against severe disease and hospitalizations.

Sputnik Light has been proven to be safe and highly effective by real-world vaccination data. In particular, the vaccine has demonstrated efficacy of between 78.6-83.7% among the elderly as confirmed by the Ministry of Health of Buenos Aires, Argentina. Paraguay’s Ministry of Health also found Sputnik Light to be 93.5% effective during the country’s ongoing vaccination campaign.

Consultation paper release by LawWiser urges Ministries and relevant stakeholders

to re-consider the Amendments to Plastics Waste Management Rules, 2016

LawWiser, India’s first video-only knowledge-sharing platform for the legal community, today released a Consultation Paper on “The Dilemma of Recycling Plastics in India”. The objective of this Consultation paper is to address and highlight the seriousness of the dual issue of the safe and sustainable disposal methods of waste plastics and the adverse impacts, if any on the health and safety of humans from the use of recycled plastics.

The recommendations from the Consultation Paper are shared with the concerned Ministries and FSSAI for re-consideration of the Plastic Waste Management (Second Amendment) Rules, 2021, (Second Amendment) introduced on 17 September 2021.

Experts from various fields participated in the Virtual Open Forum – Atin Biswas, Programme Director, Municipal Solid Waste, Centre for Science and Environment, Siddharth Ghanshyam Singh, Deputy Programme Director, Centre for Science and Environment; Sudipto Sircar, Advocate, Supreme Court, Delhi High Court; Ashish Agarwal, Secretary, Recycle India Foundation; Dr Vijay G. Habbu, Polymer Scientist and Adjunct Professor, Institute of Chemical Technology (ICT), Mumbai,

There have been a series of legislations to address waste management in India. The Plastic Waste (Management and Handling) Rules, 2011, was introduced to set up a regulatory framework for manufacture, usage, and recycling of plastic bags to ensure efficient management of plastic waste. In March 2016, The Ministry of Environment, Forest, and Climate change (MoEFCC) to tackle the menace of plastics waste further notified, the Plastics Waste Management (PWM) Rules, 2016. The rules make source segregation of various types of waste mandatory and introduce Extended Producer Responsibility (EPR) as an environment policy instrument, and assign physical, financial, and environmental responsibilities to producers, brand owners, and importers of plastics.

The Virtual Open Forum conducted by LawWiser focused on the impact and concerns raised by the introduction of the second amendment to the Plastics Waste Management Rules, 2016 . The PWM (Second Amendment) Rules, 2021 states that carry bags or products made of recycled plastic” can be used for storing, carrying, dispensing or packaging ready to eat or drink food stuff”. This is subject to appropriate standards and regulation under the Food Safety and Standards Act, 2006 (34 of 2006), by the Food Safety and Standards Authority of India.

The experts in the Open Forum deliberated that there is a need to first address the set of challenges and issues before it is implemented. In this paper, we understand and explore different aspects, of the new notification which includes

• Understanding the issue of recycling plastics in India
• Need for regulation of informal sector
• The Second Amendment (2021) is not in harmony with the earlier provisions
• The critical role of the bodies like FSSAI in the implementation of such amendment.

The experts have unanimously voiced the concern that “with lack of proper facilities and standards for recycling there is only growing concern how these rules will be effectively implemented. And, ideally this amendment should have incorporated specific recommendations from FSSAI.”

The concern of the experts is that:

• It is alleged that in India the majority of the recycling industry deploys very inferior quality recycling machines which can potentially make plastic more toxic in nature. Moreover, standards for the recycling of plastic have not been specified in India, making it all the more difficult to understand the chemical conformity of recycled plastic.
• Such permission for use in food and medicine packaging could pose a serious threat to human life and the environment. It is a huge concern that continuous recycling of plastic not only degrades the quality but also brings in life-threatening toxic impurities in them apart from issues of collection and sorting of such plastic.

Elsewhere, in countries like the United States of America, manufacturers are responsible for ensuring that the recycled product is of suitable purity. The Food and Drug Administration in the US is very well aware of the contaminants from post-consumer plastic that may appear in the final product. Therefore, each proposal of using recycled plastic is evaluated before issuing a no-objection letter.

Also, The European Commission back in 2018 was preparing to fast-track approval of 140 recycling processes for use in food and drink packaging. The proposal to approve the said recycling processes has also involved the European Food Safety Authority (EFSA). However, the final approval of each process rests with the European Commission.

• RECORDS 53% GROWTH IN WEIGHTED NEW BUSINESS PREMIUM IN SEPTEMBER 2021, OUTPERFORMS THE PRIVATE SECTOR BY 1.5X
• POSTS 8% Y-O-Y GROWTH IN RENEWAL PREMIUM TO RS 645 CRORE FOR H1-FY22
• ASSET UNDER MANAGEMENT CROSSES RS 10,000 CRORE IN H1-FY22, ALMOST DOUBLED IN LAST 3 YEARS
• TOTAL PREMIUM INCOME STANDS AT RS 1,024 CRORE IN H1-FY22
• PLANS TO ACHIEVE 90% CUSTOMER RETENTION AND BE A BILLION DOLLAR REVENUE ORGANIZATION BY 2025

Bharti AXA Life Insurance, a joint venture between Bharti Enterprises, one of India’s leading business groups, and AXA, one of the world’s largest insurance companies, today, said the company outperformed the private and overall industry growth by registering 33 per cent growth in its Weighted New Business Premium to Rs 285 crore in H1-FY22 from Rs 214 crore in the corresponding fiscal period a year ago. The company recorded growth of 53 per cent in weighted new business premium in the month of September 2021 and outperformed the private sector by 1.5X.

Bharti AXA Life Insurance registered 8 per cent growth in its renewal premium to Rs 645 crore in the first half of the financial year 2022 from Rs 594 crore in the corresponding fiscal period a year ago. Total premium income grew moderately to Rs 1,024 crore in the April-September period of this fiscal from Rs 912 crore in the first six months of the last financial year.

The 13th month persistency ratio for Bharti AXA Life insurance improved to 64.4 per cent in H1-FY22, up from 60.7 per cent for the same period last year, indicative of the quality of business being underwritten. The Company’s solvency ratio stood at 188 per cent on September 30, 2021, well above the regulatory requirement of 150%. The company recorded a surge of 28 per cent in its asset under management at Rs 10,256 crore as on September 30, 2021 against Rs 7,987 crore in the corresponding period of the last fiscal. The company’s AUM has grown ~2X over the last three years.

In line with the focus on customer centricity endeavors to support customers during the pandemic, the company has disbursed Rs 106 crore in covid related claims for the first half of the financial year 2022.

Commenting on the company’s business performance in the first half of the current financial year, Mr. Parag Raja, Managing Director and Chief Executive Officer, Bharti AXA Life Insurance, said, “We have registered steady performance on many parameters and achieved one of the highest industry growth for our new business premium collection in the first six months of the current financial year. Further, our asset under management saw a strong growth of 28 per cent and has doubled over the past three years. The improvement in the COVID-19 pandemic situation since August 2021, buoyant consumer sentiment towards the need for life insurance and our investments in digital platforms to enhance customer experience and facilitate seamless services along with our suite of customer-centric products gives us confidence about achieving our business targets and growth in the coming months.”

Bharti AXA Life Insurance has 254 branches and 33,266 advisors as on September 30, 2021. The company plans to expand on the back of strategic partnerships and by increasing its distribution footprints across the country with the help of digital innovation to meet the rising bar of higher service standards and growing customer expectations.

“We have already witnessed a strong start with our new bancassurance partners – Fincare Small Finance Bank, Shivalik Bank and Utkarsh Small Finance Bank, and are actively pursuing opportunities for strategic tie-ups and alliances to ensure sustained business growth over the next few years,” said Mr. Raja.

“We have recently unveiled our new brand purpose – ‘In a complicated world, we make insurance simple’ and our ambitions to our stakeholders. We started our transformation journey last year to establish Bharti AXA Life Insurance as a challenger brand in the insurance space and we aim to achieve 90% customer retention and be a Billion Dollar revenue organization by 2025.” Mr. Raja added.

The range of six reliable and stylish room heaters are backed with extensive engineering to provide unmatched efficiency

Finolex Cables, India’s leading electrical company has announced its entry into the room heater segment with a new range of high-performance room heaters. The stylishly designed room heaters come in six variations, supported by extensive engineering to provide reliable and flawless service for years. The heaters have multiple options such as oil filled, quartz tube, fan blower, convector and halogen with a wattage ranging from 400W to 2500W. The launch is timed with the oncoming of winters and aims to provide convenience and warmth to customers in the comfort of their home.

Speaking on the expansion of the product portfolio, Deepak Chhabria, Executive Chairman, Finolex Cables said. “Finolex Cables has been one of the front runners in providing some of the best quality consumer durable products and the customer response has been deeply encouraging. Our aim is to constantly pre-empt and offer products that are need of the hour with customer centricity being the binding factor. Our entry into the room heater segment is a true representation of a brand that is consumer’s first choice.”

 

It was only in February this year that Finolex had successfully launched its conduits. These are available in 19-32” diameters in Light, Medium and Heavy stress specifications. Along with conduits Finolex also offers commonly used fittings like junction boxes, bends, inspection bends etc.

Speaking about the positive response for the newly launched room heaters, Amit Mathur, Sr. Vice President – Sales & Marketing said “Being one of the consumers favourite and channel partners preferred brand, Finolex cables enjoys an esteemed position. It is a matter of honour that our entry into the room heater segment is due to the positive push from trade partners, due to the promising response we received for our water heaters range. The room heaters have also had a substantial portion of pre-booking already.” He went on to add “Launching the range prior to the onset of the winter season makes our strategic imperative clear as we aim to serve a wide consumer base through our strong 1,50,000 retailer network.”

 

Following the success of Finolex Cables’ steady expansion into the electrical segment with products like electric water heaters, fans, miniature circuit breakers (MCBs), switches, conduits and lighting products, the new range of room heaters is designed to meet the channel demand. With consumer-focused ranges being one of the focus pillars, the company has a competitive advantage in engineering, facilities, and expertise.