21 August 2023, Mumbai

Revolutionizing the Landscape of Protective Gear

Researchers at IIT-Delhi have introduced the world's lightest bulletproof jackets, designed specifically for frontline soldiers. These state-of-the-art jackets offer unparalleled protection while significantly reducing the overall weight burden.

Weighing an astonishingly low 8.2 kg, the newly developed jacket showcases extraordinary resilience, capable of withstanding up to eight bullets fired from AK-series rifles.

A 15-Year Journey to Make Frontline Soldiers Safer

The inception of this ground-breaking project dates back 15 years, triggered by an insightful conversation between Professor Naresh Bhatnagar from IIT Delhi's Centre of Excellence on Personal Body Armour and an Army Major with frontline experience.

The Major emphasized the urgent requirement for lighter bulletproof jackets, given the impracticality of the existing iron-based counterparts, which weighed between 22-25 kg and hindered combat effectiveness.

Diverging from conventional approaches, IIT-Delhi's researchers integrated advanced polymer and ceramic materials into their innovative jacket design.

Setting a New Global Standard in Bulletproof Technology

The endeavor garnered substantial academic investment, engaging the expertise of 25 M.Tech and 12 Ph.D. students.

Endorsed by the Bureau of Indian Standards following meticulous evaluation, these jackets are slated for presentation at an upcoming NATO conference in Germany.

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02 August 2023, Mumbai

Ready-made garment retailers in the state and neighboring regions have reason to rejoice as the South India Garment Association (SIGA) prepares to host an exciting three-day garment fair. Featuring over 150 stalls, the event will exhibit the latest wedding, festival, and winter season garments.

Labour Minister inaugurates

Set to take place at Princess Shrine, Bangalore Palace Ground, the national-level fair will be inaugurated by Labour Minister Santosh Lad, with Sandalwood actress Sharanya Shetty as the guest of honor.

The fair has received an overwhelming response from manufacturers, with all 150 stalls booked well in advance. Garment manufacturers from various cities will be participating, targeting both B2B and retail customers.

To promote the trade

SIGA's continuous efforts have also led to creating awareness about garment industry laws and taxes, benefitting manufacturers.

The association aspires to foster further growth by advocating for more apparel parks in the state, potentially generating increased employment opportunities.

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14 July  2023, Mumbai

The Indian GST Council has announced a significant reduction in GST rates for imitation zari thread, a key component in handicrafts and traditional Indian garments.

To benefit artisans

At the 50th GST Council meeting held in New Delhi, the council proposed a reduction from the existing 18% to just 5% for this vital textile intermediate product.

Rationalisation

Finance and corporate affairs minister Nirmala Sitharaman presided over the meeting, which also saw recommendations for simplifying GST compliances.

Streamline compliance

Alongside the tax rate reduction, the council proposed regularizing past GST payments related to this matter.

Furthermore, it clarified that the supply of raw cotton by agriculturists to cooperatives, including kala cotton, falls under the taxable category through the reverse charge mechanism, with retroactive regularizations.

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08 July 2023, Mumbai

According to Amazon, cumulative overseas sales by Indian exporters participating in the Amazon Global Selling program are on track to exceed $8 billion this year. In its Exports Digest 2023, Amazon revealed that exports from India through the program reached $5 billion last year.

Steady growth in overseas sales

The report also highlighted the program's expansion since its launch in 2015, with 125,000 exporters now on board. Notably, 1,200 Indian exporters achieved sales exceeding Rs 1 crore in 2022. The report further outlined popular export categories, including toys, home and kitchen products, and beauty items.

Outlining emerging categories

Additionally, emerging product categories such as apparel, groceries, and health and sports equipment showcased promising export potential. Delhi led the way in exports, followed by Rajasthan, Maharashtra, Uttar Pradesh, Gujarat, and Madhya Pradesh, as per the report.

Bullish outlook

Amazon India's management is quite optimistic about the future, citing the inclusion of a dedicated chapter on e-commerce exports in the FTP'23, aiming to enable $20 billion in cumulative e-commerce exports from India by 2025.

The report also disclosed that more than 266 million 'Made in India' products have been exported to customers in the US, the UK, the UAE, Canada, Spain, France, and Italy through the program.

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05 July  2023, Mumbai

Wunderman Thompson Commerce & Technology has launched the 7th edition of its Future Shopper report, offering valuable insights into the online shopping habits of 31,000 consumers across 18 international markets, including India.

Shaping the future of Indian retail

The report highlights the growing significance of digital channels in shaping the future of retail, with 64% of shoppers expecting nearly two-thirds of their purchases to be made online in the next decade.

Datapoints

Online spending through direct-to-consumer (D2C) channels has doubled from 7% to 14% in 2023, narrowing the gap with marketplaces. To capitalize on this trend, brands are advised to review their online sales models, as 58% of global shoppers prefer buying from branded marketplaces.

The increasing role of AI

The report identifies India as the leading market for consumers interested in posthumous purchasing, enabled by AI and cloud-based avatars. Additionally, India ranks highest for digital item purchases due to affordable mobile internet data and high mobile phone penetration across all demographics.

Customer purchase journey

The concept of "compressed commerce," where customers seek fast purchasing experiences, is gaining traction. Indian B2B buyers display the strongest preference for this approach, while Japanese B2B buyers are least interested. Brands emphasizing purpose and ethics appeal to an increasingly conscious consumer base.

Competitive landscape

Thailand and India rank highest in terms of changing shopping habits due to environmental concerns. Voice commerce adoption remains moderate, but China leads with 72% of shoppers owning voice-enabled devices, followed closely by India.

Omnification

Omni-channel strategies are crucial for brand success, with 77% of Indian shoppers preferring brands with both physical and online stores. Indian consumers have high expectations, demanding engaging experiences, quick deliveries, and minimal returns.

They also exhibit trust in marketplaces beyond shopping, with openness to marketplace dating services and utility purchases.

Observation

Hugh Fletcher, Global Head of Consultancy and Innovation at Wunderman Thompson Commerce and Technology, emphasizes the importance of providing a seamless shopping experience across all channels and devices to meet evolving consumer demands and retain customers. Are businesses prepared for the consumer of the future?

The Future Shopper report urges organizations to invest wisely and leverage data to deliver the experiences consumers will come to expect.

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The much-anticipated e-commerce policy is set to be released by the Union Commerce and Industry Ministry within the next two weeks or after the current parliament session.

Policy to promote ONDC

This policy is expected to incorporate provisions for the Open Network for Digital Commerce (ONDC), a government-supported initiative aimed at democratizing e-commerce in India.

One of the primary objectives of the policy is to strengthen the grievance redressal system for consumers who face issues with e-commerce companies.

This move aligns with the government's recent efforts to crack down on unfair trade practices prevalent in the e-commerce sector.

Decoding

Furthermore, the policy is designed to distinguish between the inventory-led and marketplace models of e-commerce, providing consumers with clear information about the different types of e-commerce platforms, enabling them to make well-informed choices.

This policy marks a significant advancement for the Indian e-commerce sector as it seeks to create a more level playing field for all market players and safeguards consumers against unfair trade practices.

Strengthen ‘Grievance Redressal Mechanism’

In addition to the above details, the policy will be in line with the Amendment to Consumer Protection (Ecommerce) Rules, 2020, which aims to address complaints related to "unfair trade" practices. Furthermore, the policy will prioritize inclusive growth by encouraging Small and Medium Enterprises (SMEs) to adopt digital technology and enhance exports through e-commerce.

Opposition

The Confederation of All India Traders (CAIT), a trade body representing small retailers, has urged the government to ensure that the policy treats all stakeholders fairly and avoids favoritism towards large e-commerce companies.

Moreover, the policy is expected to include guidelines regarding fallback liability for e-commerce companies, offering greater clarity on grievance redressals.

24 June 2023, Mumbai

The Delhi Government is set to revolutionize the way markets operate with the upcoming launch of Dilli Bazaar, a pioneering digital platform connecting local vendors to customers nationwide and worldwide.

What all you need to know

Unique e-portal

With an initial focus on 10,000 vendors, this ground-breaking initiative marks the country's first-of-its-kind portal. The government aims to provide a 24x7 digital storefront to over one lakh shops in Delhi within six months.

Promoting Local Markets and Supporting Startups

Dilli Bazaar promises an immersive virtual experience, showcasing Delhi's iconic and local markets, while enabling customers to explore diverse products. Notably, the platform welcomes all shopkeepers, regardless of GST registration, and offers personalized digital storefronts.

Value Accretion

In addition, virtual market tours and ONDC compatibility enhance convenience and promote flexible e-commerce opportunities.

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