Innovation and Inclusivity Power India’s Tech Rise: Key Takeaways from Deloitte’s TechFast50

13th December 2024  Bangalore, Karnataka, India  Deloitte India announced the winners of the 19th edition of Technology Fast 50 India Awards, recognising the nation’s fastest-growing tech companies of 2024. This year’s awards spotlight the dynamic growth of startups across sectors such as artificial intelligence (AI), clean energy, healthcare, supply chain, and education.

Delhi NCR led the rankings with 16 winners, followed by Bangalore and Mumbai. Notably, 2 winners from tier two and tier three cities underscore the growing innovation footprint beyond metro areas. Some of the new categories such as Sustainability Tech, EdTech, InsurTech, and Credit Tech reflect the evolving priorities of India’s technology ecosystem.

Top performers: The “Fast Five”

Garuda Aerospace Pvt Ltd, Redcliffe Lifetech Pvt Ltd, FarMart Services Pvt Ltd, Capgrid Solutions Pvt Ltd, and Upgrid Solutions Pvt Ltd (Batterysmart), topped the ranking with contributions to drone services, healthcare innovation, supply chain management, precision manufacturing, and clean mobility.

Speaking at the awards, Peeyush Vaish, Partner and TMT Industry Leader, Deloitte India, highlighted the remarkable adaptability and innovation this year’s TechFast50 winners demonstrated. He noted that these companies are not merely navigating a fast-changing digital environment but actively shaping it. From harnessing the power of AI to pioneering advancements in sustainability technologies, these trailblazers exemplify the transformative potential of India’s tech ecosystem.

“India’s technology sector is at a defining moment, driven by policies promoting innovation, increasing digital inclusivity, and rising global recognition. The TechFast50 winners lead this change, setting new benchmarks for agility, scalability, and impact. By honouring their success, we celebrate a dynamic ecosystem of entrepreneurs and innovators, fostering a culture of innovation that drives co-creation and collaboration—efforts that propel India towards global tech leadership,” he added.

Peeyush Vaish, Partner and TMT Industry Leader, Deloitte India addressing the gathering

This year’s awards highlighted several emerging trends shaping the tech industry. A notable increase in sustainability-focused innovations led to the introduction of the “Sustainability Tech” category, recognising companies’ contributions to the electric vehicle ecosystem. The influence of AI was evident in the “Data and AI” category, with companies developing generative AI tools to modernise enterprises. Additionally, a rise in tech-driven solutions for legacy insurance processes led to the creation of the “InsurTech” category.

Various senior industry leaders graced the event, and the chief guest was Milesh J, Head of Strategy & Operations at SAP Labs India Pvt Ltd. There was an exclusive masterclass session for the TF50 winners, where a distinguished jury offered insights on IPO strategies, governance, funding, and ESG. The jury included prominent figures such as Nishant Rao, Founding Partner at Avataar Ventures; Romit Mehta, Vice President at Lightspeed Venture Partners; Justin Paul, Head of Innovation Office at SAP Labs; and Siddarth Pai, Founding Partner at 3One4 Capital.

For details of this year’s Top 50 rankings companies at TF50, click here.

Key highlights from Deloitte’s TechFast50 awards:

  • Between 2005 and 2022, several notable companies that won the TF50 award went public, such as RateGain IT and Zomato.
  • Seven companies reached Unicorn status: Zomato, RazorPay, Rupeek, Moglix, Pepper Content, Cashfree Payments, and The MathCompany.
  • Dynamic evaluation: A distinguished jury assessed companies using a balanced approach that considered revenue growth alongside innovation, sustainability, and market impact.
  • Empowering diversity: The “SheXO in Tech” category highlighted technology’s role in empowering women and fostering inclusivity.

Notes to the editor for reference purposes only

This press release has been issued by Deloitte Touche Tohmatsu India LLP.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see www.deloitte.com/about for a more detailed description of DTTL and its member firms.

Vinita Bali Urges Ahmedabad Graduates to Lead with a Global Perspective and Purpose

13th December 2024 Ahmedabad, Gujarat, India  Ahmedabad University has built an innovative academic ecosystem, redefining the ways of learning through research-driven thinking, hands-on experiences, and interdisciplinary exploration. The University has reimagined the classroom experience to equip students to tackle complex global challenges that lie at the intersection of diverse disciplines – a foundation that not only shapes the future of education but also drives societal progress.

The University has rapidly emerged as a high-quality multidisciplinary institution, renowned for its transformative impact on the lives of young people evidenced in the outstanding outcomes achieved by the graduating class of 2024.

830 students received degrees, including 659 undergraduates, 164 masters, and seven doctoral students. The University honoured six students with gold medals for their outstanding achievements

The 14th Annual Convocation celebrated the remarkable achievements of its students, showcasing their groundbreaking research and real-world impact. These achievements include developing strategies for decarbonisation using material efficiency and circular economy principles; analysing canal irrigation systems to propose equitable solutions for water distribution among farmers; and innovating nanoparticle-based immunoliposome delivery systems for targeted chemotherapy and microRNA therapy to treat breast cancer, to name a few.

In addition to their research accomplishments, the class of 2024 demonstrated the benefits of a liberal education, securing admissions to prestigious global institutions, obtaining roles with progressive Indian companies, and venturing into the dynamic world of startups.

The 14th Annual Convocation, held on December 10, 2024, marked the success of 830 such students embarking on their next journeys after earning their degrees. Among them were 494 students from the Amrut Mody School of Management, 162 from the School of Arts and Sciences, and 174 from the School of Engineering and Applied Science. The University also conferred doctoral degrees to seven graduates for their groundbreaking contributions to research. Additionally, the top students of the Class of 2024 were honoured with gold medals for their exceptional performance.

Vinita Bali, former Managing Director of Britannia Industries and a globally acclaimed leader in business and sustainability, delivered the convocation address that embodied Ahmedabad University’s commitment to inspiring students to apply their learning in service to the community. Drawing from her extensive experience across sectors and geographies, Ms Bali emphasised the need to make the right choice. “In your everyday life, you will face choices and dilemmas, both big and small. Maintain your integrity, sense of ethics, and values, and strive to do what is right—not just for ourselves but also for our planet and community. The planet is crying out to people like us for help because when all the trees are cut, the waters are polluted, the animals are gone, and the air is no longer fit to breathe, we will realize that we cannot eat money.”

Emphasising the responsibility of industrialists, she added, “Today in the corporate world, we talk about concepts like CSR and ESG. But past industrialists had already embraced these values long before such terms existed. For instance, Ahmedabad University is the vision of an industrialist—your Chancellor’s grandfather, Kasturbhai Lalbhai. Similarly, consider what Jamshedji Tata did in Jamshedpur long before CSR and ESG were coined. He believed that in business, the community is not just another stakeholder; it is the very purpose of our existence. This is the responsibility that those people have bestowed on us. And this is our responsibility.”

Presiding over the ceremony, Chancellor Sanjay Lalbhai reflected on the vision of Ahmedabad University: to build an institution that positions India once again as a leading light in the creation and dissemination of knowledge. He remarked, “We recall the time when ancient universities like Nalanda and Takshashila were the foremost institutions of research and learning, recognised worldwide. We aspire for Ahmedabad University to shine just as brightly and add many more disciplines to make it a holistic and be acclaimed as an excellent centre of learning with many more disciplines to make it a holistic and complete center of education. Graduating students, your continued support for the University will play a pivotal role in shaping the future of Ahmedabad University.”

Vice Chancellor and Chairman of the Board of Management, Professor Pankaj Chandra, in his address, inspired graduates to use their education to make meaningful contributions to society with five key messages. “To the graduating class – as you step out of the University today, let me say five things: One: Question everything around you and make your education count. Two: Be grateful. Three: Don’t stop learning today. Continue to invest in your learning and your experiences. It will be the new learning that will keep you moving forward purposefully. Four: Fulfil the public good promise of education – to become a better citizen with a strong civic sense and a caring eye. And, Five, always remember that your journey going forward is going to be unique to you. Each of your paths will unfold differently and at different times from others, so flourish within your uniqueness in this world,” said Professor Chandra.

The valedictorian, Aditya Gupta (BBA Hons, Class of 2024), reflected on the unique journey of the Class of 2024, which began in the midst of the pandemic. As the first cohort to transition from online classrooms to exploring the University’s vibrant campus, Aditya recounted how the challenges of the pandemic brought his peers closer, creating cherished memories in every corner of the campus. Highlighting how Ahmedabad University became more than just a learning platform – a community of people who made difficult times easier – he concluded with an empowering message: “We have the power to lead, to inspire, and to make a difference.”

The 14th Annual Convocation was attended by the University’s Governing Body and Board of Management members, faculty, alumni, students, staff, and all the proud families, friends, and loved ones of the graduates who have helped their graduates succeed.

Illuminate Your Space: Crompton Launches New Decorative Wall Light Collection

13th December 2024   Mumbai, Maharashtra, India  Crompton Greaves Consumer Electricals Limited, renowned for its dedication to quality and innovative lighting solutions, is thrilled to unveil its latest range of Decorative lights – The Wallsmile Wall Light Series. Whether you are decorating your home or just looking to add a touch of elegance, this collection is designed to elevate living spaces for DIY enthusiasts and professional decorators. Perfect for both minimalist and luxurious interiors, these wall lights will add a touch of elegance and charm to any room.

Consumers are increasingly looking for lighting solutions that combine beauty and functionality. Crompton’s Wall Lights satisfy the consumer’s needs by offering a blend of elegance and style that transforms any space. These lights create a distinctive ambiance. Whether you’re looking to add a touch of luxury or set the perfect mood, Crompton’s Wall Lights come in a variety of shapes that match every emotion, effortlessly infusing warmth and charm into your home. Ideal for corridors, garden walls as well as indoor spaces, these lights help create an inviting atmosphere that reflects your unique personality. They add depth and visual interest to any space, enhancing your living environment.

Crompton’s Decorative Wall Lighting Range includes a diverse range of products which elevate the overall experience of the consumer:

Wall Lamps: All four of these contemporary designs are made to last and are easy to install. With a one-year warranty, these lights demonstrate Crompton’s dedication to excellence.

Ball Lights: Lighting is more than just a necessity; it’s an essential element of design that transforms spaces. This collection of wall lights combines artistry and functionality, providing not only illumination but also a touch of elegance for any room.

K Lights: The One-Way and Up & Down K Light are engineered to direct light precisely where you need it. Whether you want to highlight a piece of art, illuminate a pathway, or create ambiance in a cozy corner, this fixture delivers bright, focused lighting that enhances your environment.

Telescopic Up & Down Lights: The Two-Way Telescopic lights are designed to project light both upward and downward, offering enhanced versatility for your lighting needs. Whether you want to highlight architectural features or create a warm ambiance in a living area, this fixture delivers beautifully balanced light in both directions.

Designed to upgrade the overall lighting experience of the space, the Decorative Wall Lights range offers reliable lighting solutions for anyone who wants to upgrade the aesthetics of their home décor. This range of lights is water resistant and dust-free, which makes them suitable for both indoor as well as outdoor environments as they can take splashes of water without affecting the productivity and functioning of the product. Additionally, the entire range of these wall lights are registered with Bureau of Indian Standards (BIS), which ensures that the safety, quality & performance standards are verified.

Speaking about the latest launch, Mr. Shaleen Nayak, Vice President & Business Head, Lighting – Crompton Greaves Consumer Electricals Ltd., stated, “At Crompton, we view lighting as an art form that has the power to redefine spaces—going far beyond mere illumination. Our approach focuses on offering consumers innovative solutions that elevate their everyday experiences. From enhancing ambiance to ensuring reliability, our lighting solutions are designed to combine beauty, functionality, and durability. The latest Wall Lights Range exemplifies this ethos, featuring surge protection, water resistance and easy installation. These lights are not just fixtures—they’re a testament to Crompton’s commitment to setting new benchmarks in quality and originality, making us a trusted partner for modern homes.”

Available at Crompton-authorized retail outlets nationwide and on major e-commerce platforms, this collection is designed to brighten and elevate interiors while enhancing décor.

The price range of the products is as follows:

Crompton

Available at Crompton-authorized retail outlets nationwide and on major e-commerce platforms, this collection is designed to brighten and elevate interiors while enhancing decor.

West Bengal’s Wildlife at Risk: Study Reveals Alarming Ritual Hunting Practices

13th December 2024   New Delhi, Delhi, India   A new study highlights the grave impacts of illegal ritualistic hunts in West Bengal, India, where thousands of hunters gather during cultural or religious festivals to kill wildlife using traditional weapons such as bows, catapults, and spears. The research involved socio-economic questionnaires carried out with 99 hunters from hot spot areas and reveals that these large-scale social events impact more than 90 different species, including some already at risk of extinction, while posing significant challenges for animal welfare.

The hunts, which are conservatively estimated to result in the deaths of 5,000 animals annually, target species ranging from wild boars and Bengal monitors to jungle cats, Indian flying foxes and greater coucals. Among these, seven species are listed as globally threatened on the IUCN Red List, including the Critically Endangered elongated tortoise and long-billed vulture. Additionally, 25 species fall under Schedule I of India’s Wildlife Protection Act, making their killing illegal under all circumstances.

The study also explored the motivations driving hunters. Wild meat consumption remains central to these events, often as part of celebratory feasts. However, some species, such as Bengal monitors, are also hunted for their skin, bones, and fat for use in traditional medicine or decorative items. Economic trade in wildlife derivatives was reported by a smaller proportion of hunters. Notably, personal enjoyment, rather than economic gain or subsistence use, emerged as the primary motivation for participating in the hunts.

Despite the scale of the issue, the study underscores opportunities for change. The authors call for strengthening law enforcement alongside targeted awareness campaigns to help communities transition toward sustainable practices, ensuring the preservation of both cultural traditions and West Bengal’s unique wildlife. Additionally, they recommend involving local stakeholders in the development of wildlife-friendly initiatives, offering a practical pathway to protect biodiversity while fostering community pride.

Dr Neil D’Cruze, lead author and Head of Wildlife Research at World Animal Protection, said, “Every year these large ritualistic hunts are a devastating blow for both local biodiversity and animal welfare. They typically involve thousands of hunters, leading to the estimated indiscriminate killing of at least 5,000 wild animals annually. Among the species most at risk are the Critically Endangered elongated tortoise, slender-billed vulture, and long-billed vulture, whose populations are already in steep decline. Beyond the staggering loss of threatened species, the methods used—such as spears, catapults, and bows—inflict immense suffering on animals, many of whom are left to die slow, painful deaths. The scale of animal suffering and its impact on ecosystems cannot be overstated.”

Shubhobroto Ghosh, Co-author of the study and Wildlife Projects Manager at World Animal Protection India, said, “While ritualistic hunting may have deep cultural roots, it is illegal under Indian law. The Wildlife Protection Act, 1972, strictly bans hunting of Schedule I species, including the Critically Endangered long-billed vulture and elongated tortoise, granting them the highest protection. Our study, however, offers hope: these hunts are largely motivated by personal enjoyment rather than subsistence. Encouragingly, most hunters expressed interest in legal alternatives like wildlife-friendly tourism or nature-based festivals, which could sustain cultural traditions while safeguarding wildlife and instilling pride in the region’s rich biodiversity.”

Gajender Sharma, Director of World Animal Protection India, said, “This study is not just about documenting a problem but finding solutions. The success of community-led conservation initiatives, such as the Khonoma Nature Conservation Sanctuary in Nagaland, shows what’s possible when people and wildlife thrive together. By offering wildlife friendly alternatives like wildlife photography, birdwatching, and eco-tourism, we can address hunters’ motivations for enjoyment while creating new opportunities. With combined efforts in law enforcement and community engagement, a positive transformation for both wildlife and people in West Bengal is achievable.”

Shot by Wahter Rewards Customers with Monthly iPhone Prizes

Giveaway for Customers

13th December 2024 Gurugram, Haryana, India  Drinking water has never been this exciting! Wahter, India’s innovative advertising and packaged drinking water brand, has launched a new product, Shot by Wahter, which combines hydration with an engaging chance to win the latest iPhone every month.

Shot by Wahter is designed for GenZ and millennials, offering not just water but also a bit of excitement. Every bottle comes with a QR code on its eye-catching label. Scan the code, fill in some important details, and you’re entered into a monthly giveaway to win the latest iPhone. It’s an easy and fun way to turn something as simple as drinking water into a thrilling experience.

Co-founded by Amitt Nenwani and Kashiish A Nenwani, Wahter has redefined everyday advertising, and Shot by Wahter takes this vision further by creating an interactive, youth-focused product that seamlessly blends functionality with engagement. Available in 250 ml and 500 ml sizes, Shot is competitively priced alongside market leaders like Bisleri and Kinley. Its vibrant design and accessibility across General Trade, Modern Trade, and local stores ensure it appeals to a broad audience. Beyond being a refreshing hydration choice, Shot also serves as a unique advertising platform, with 40% of its label reserved for brands to communicate directly with consumers in high-traffic retail environments.

GenZs, with its 43% contribution to India’s household consumption, represents a significant growth driver for brands. Shot taps into this influence by offering a product that resonates deeply with their lifestyle and preferences. The interactive element of the iPhone giveaway adds an extra layer of fun and engagement for customers and gives advertisers a fresh way to connect with their audience.

Winners of the iPhone giveaway will be announced on the 25th of every month on Wahter’s social media pages, building excitement and keeping everyone engaged. Launched in November, Shot by Wahter is a new way to enjoy your water while adding a little thrill to your day. So why wait? Grab a bottle, scan the code, and see if you’re the next iPhone winner!

Inflation in the United States Advances Ahead of Uncertain Times

By Quasar Elizundia, Expert Research Strategist – Pepperstone

“Inflation in the United States has returned to the spotlight with the release of data for November 2024. According to the U.S. Bureau of Labor Statistics, the headline Consumer Price Index (CPI) showed a 2.7% year-over-year increase, aligning with market expectations and slightly above the 2.6% recorded in October. On a monthly basis, the CPI rose by 0.3%, marking the largest increase since April.

From a core perspective, the Core CPI—which excludes food and energy—remained steady at 3.3% year-over-year, consolidating the persistence of inflation above the Federal Reserve’s 2% target. This figure, while anticipated, underscores the challenges for the Fed in bringing price increases to target levels without destabilizing the economy.

The breakdown of CPI components reveals mixed trends. While energy costs continued to decline (-3.2% year-over-year), food prices increased by 2.4%, driven by rising prices for meats, poultry, and eggs (+3.8%). In the housing sector, the main contributor to the monthly increase, the shelter index rose by 0.3%, accounting for nearly 40% of the overall rise.
The financial market reaction was relatively mixed. The U.S. dollar initially weakened following the data but later regained some lost ground. In Latin America, the absence of an inflationary surprise was met with relief, temporarily benefiting the main LATAM currencies.

Looking ahead, markets are currently pricing in a more moderate monetary policy for 2025, with expectations of three 25-basis-point cuts that could bring rates down to the 3.5%-3.75% range by year-end. However, the economic policies proposed by Donald Trump—such as tariffs and mass deportations—emerge as key variables in determining the effective future direction of prices in the U.S.

Ultimately, while the data was not surprising, it underscores the complexity of the current inflationary environment, where even more intricate factors are poised to play a crucial role in the coming quarters.”

Gold (XAUUSD) Stabilizes Below $2700: An Analysis of Hesitation Ahead of Inflation Data

By: Rania Gule, Senior Market Analyst at XS.com

Gold prices have experienced notable fluctuations in recent days, with the precious metal trading around $2,690 per ounce on Wednesday. This level, below its two-week high, reflects a blend of conflicting factors shaping a murky outlook for its near-term future. While geopolitical concerns and trade tensions continue to support gold as a safe-haven asset, the strong U.S. dollar, buoyed by rising Treasury yields, exerts downward pressure on its value.

From my perspective, the recent movements in gold prices are a clear reflection of repositioning by traders ahead of the U.S. Consumer Price Index (CPI) report. This report holds substantial importance in guiding expectations for Federal Reserve monetary policy. Current data suggest that markets are cautiously anticipating this report, as it could significantly impact the U.S. dollar’s trajectory and, consequently, gold’s performance.

The U.S. dollar, which has regained strength in recent days, plays a pivotal role in determining gold’s path. Rising U.S. Treasury yields enhance the appeal of dollar-linked assets compared to non-yielding gold. However, this increase in yields is not without risk, as it could heighten tensions in financial markets, making gold a more attractive option during periods of uncertainty.

On the other hand, I believe that escalating geopolitical risks partially bolster gold’s appeal. Recent developments, such as increased tensions in the Middle East and heightened concerns in Eastern Europe with President Zelensky’s remarks about boosting military funding and foreign troop deployment, underscore gold’s role as a hedge against crises.

Additionally, Donald Trump’s re-election and his aggressive stance on trade policies with major global economies reignite fears of trade wars. These factors collectively emphasize gold’s enduring value as a safe-haven investment in times of geopolitical instability.

From a monetary policy perspective, investor expectations regarding the Federal Reserve remain a key driver of gold prices. Markets currently foresee a strong likelihood of a 25-basis-point rate cut in December. However, recent statements from Federal Reserve officials, including Chair Jerome Powell, hint at a more cautious approach to rate cuts. This hesitancy leaves markets in a state of uncertainty, where upcoming inflation data could significantly shift the narrative.

The upcoming CPI report is expected to provide clearer insights into the direction of monetary policy. Higher-than-anticipated data could strengthen the case for maintaining a hawkish stance, supporting the dollar and pressuring gold. Conversely, signs of slowing inflation might reinforce expectations of rate cuts, potentially driving gold to higher levels.

Despite the negative factors weighing on gold, I believe several reasons make it an attractive investment in the near term. In addition to geopolitical risks, Trump’s strict trade policies could destabilize global markets, boosting demand for gold as a safe-haven asset. Moreover, the anticipated underperformance of major economies such as Canada, the Eurozone, and Switzerland—with their central banks expected to cut rates soon—could further support gold as a preferred investment amid a weak economic backdrop.

In conclusion, the market remains cautiously on edge ahead of the U.S. inflation report. Despite pressures from the strong dollar and rising Treasury yields, gold remains partially shielded by increasing geopolitical and economic risks.

I believe the future trajectory of gold largely hinges on forthcoming economic data and the Federal Reserve’s response to it. Given these dynamics, gold may stay below the $2,700 level in the near term. However, any escalation in global crises or a shift in rate expectations could push it to higher levels.

KT Professional Announces Jacqueline Fernandez as the Brand Face for its Hair Care Range

Hair Care Range

Mumbai, 12th December 2024 KT Professional, a leading name in the professional hair care industry since 2018, is thrilled to announce Bollywood actress Jacqueline Fernandez as the new brand ambassador for its range of premium hair care products.

Known for her stunning beauty, elegance, and commitment to excellence, Jacqueline perfectly embodies the values that KT Professional strives to uphold — sophistication, innovation, and a passion for enhancing beauty in all forms. With her widespread popularity and appeal, Jacqueline is set to help elevate KT Professional’s presence both in India and globally, resonating with individuals who seek high-quality, salon-grade hair care solutions.

Why Jacqueline Fernandez Fits Perfectly with KT Professional

Jacqueline’s radiant personality and impeccable sense of style make her the ideal partner for KT Professional. With her long, beautiful hair and her passion for maintaining a healthy, vibrant appearance, she mirrors the brand’s vision of empowering individuals to express their beauty confidently. As a global icon, Jacqueline brings both relatability and aspirational qualities that resonate with KT’s audience, making her the perfect choice to represent the brand.

Quote from Dhruv Sayani, Founder of KT Professional

“We are beyond excited to welcome Jacqueline Fernandez as the face of KT Professional. She represents everything we stand for — beauty, elegance, and excellence. Her passion for self-care, combined with her strong presence in the entertainment industry, makes her an ideal ambassador for our brand. We are confident that her association will help take KT Professional to new heights and bring our premium hair care solutions to an even wider audience.”

With Jacqueline Fernandez on board, KT Professional is set to continue its journey as a leader in the hair care industry, offering consumers the tools they need to achieve gorgeous, healthy hair every day.

Kehairtherapy: Innovating Haircare, Redefining Excellence

Known for its commitment to delivering professional-grade haircare solutions, KT has become a trusted name in salons and households across the country. The brand’s extensive product portfolio, enriched with keratin and other nourishing ingredients, caters to diverse hair types and concerns.

KPMG Report: Industrial manufacturing (IM) and Automotive CEOs see through global turbulence by betting big on AI

MUMBAI, 12th December 2024 – In the Industrial Manufacturing and Automotive sector 74 per cent CEOs are confident about the global economy’s growth prospects a survey of 240 sector leaders from across the world finds. Also, industrial manufacturing and automotive CEOs report high levels of confidence about the outlook for their industry, with 80 per cent seeing good growth prospects .

The report which is a sector cut of the KPMG 2024 CEO Outlook, now in its tenth year globally, reveals economic uncertainty is a predominant concern, cited by two thirds of industrial manufacturing and automotive CEOs, while the race to embed generative AI and other technologies (53 per cent) and geopolitical complexities (45 per cent) are also top of mind.

Alongside M&A to drive growth by vertically integrating businesses (with 45 per cent of CEOs describing their deals appetite as ‘high’), a strong employee value proposition to attract and retain key talent, and advancing digitization and connectivity across the business, are also seen as key levers. Organic growth and M&A too are both on the agenda. However, more automotive CEOs see M&A as a strategically important growth lever for the next three years (29 per cent ), while for industrial manufacturing inorganic growth is a little more prominent (31 per cent).

The economic picture may be shadowed by uncertainty — but industrial manufacturing and automotive CEOs are sure that embracing innovative technologies including AI, and embedding them deeper into manufacturing and assembly processes — which are already transforming as Industry 4.0 takes hold — is a path towards future growth and productivity.

It is interesting that new technology such as AI is viewed as both an opportunity and a challenge. In particular, Gen AI has become a major investment priority — especially for automotive CEOs ( 63 per cent) than in industrial manufacturing where the majority (68 per cent) are neutral

They are also very cognizant of the challenges and barriers involved with Gen AI such as ethics, regulation, and costs, as referenced earlier. Two thirds of CEOs feel that regulation needs to move quickly to provide clarity, as a slow pace of regulatory progress will be a barrier to their organization’s success.

An even bigger proportion (73 per cent) believe that the degree of AI regulation should be proportionate, mirroring that for climate commitments. The highest proportion of CEOs (60 per cent) flag the IT function as the biggest area in their businesses for Gen AI adoption, but sales & marketing is not far behind (57 per cent) while manufacturing is a key area for automotive specifically (50 per cent), and research & development is seen as another domain ripe for its use (40 per cent) — suggesting a wide range of potential use cases across the enterprise.

This year’s survey shows that building trust is seen as a key priority. Three-quarters of industrial manufacturing and automotive CEOs believe that engaging with communities is important. The same proportion also say they would be willing to divest a profitable part of the business that was damaging the organisation’s reputation. Six in ten CEOs say that stakeholder expectations around ESG change more quickly than they can adapt their strategy. In response, CEOs are demonstrating agility with 67 per cent saying they have changed their communication strategies around ESG.

Reaching net zero is a critical element in the decarbonization agenda — and by far the biggest barrier to achieving it, according to industrial manufacturing and automotive CEOs is decarbonizing the supply chain (56 per cent). Just as supply chain was a top risk for industrial manufacturing CEOs specifically, so it stands out as by far the biggest barrier for them to achieving net zero (cited by 74 per cent of CEOs). This is much higher than for automotive CEOs (38 per cent), albeit supply chain is the biggest barrier in automotive too.

Despite the advent of AI and advanced technology, 74 per cent of industrial manufacturing and automotive CEOs believe this won’t impact the overall number of jobs, even if it does bring with it an upskilling need and the redeployment of some existing resources.

With talent high on the agenda, CEOs recognize that generational issues could be brewing that require their attention, with this perception being more marked amongst industrial manufacturing CEOs compared to automotive. There is a risk of struggling to replace retirees who have built up years of knowledge and experience if Millennials and the new generation aren’t attracted to the industrial manufacturing environment. CEOs recognize the importance of their response to social issues as levers to keep younger staff motivated, engaged and on board.

Jeffry Jacob, Partner, and Head (automotive) KPMG in India said “A sense of optimism laced with a bit of caution is how I would sum up the mood amongst industrial manufacturing and automotive CEOs. That said, economic conditions have stabilized with costs having reduced, which means sustained earnings growth is something we could see. Geopolitical Uncertainties are a key concern. How that plays out — including impacts on oil prices — could have a significant impact on future trading scenarios.”

Rohan Rao, Partner, Automotive and Lead- Electric Mobility, KPMG in India said “A good amount of consolidation and deals are expected in the automotive industry over the coming years. This is not only because of some overcapacity that we are witnessing in the market but it’s also a result of original equipment manufacturers (OEMs) feeling the need to acquire new capabilities in areas such as microchips and batteries for EVs. This could spawn growing number of partnerships and JVs as well as outright acquisitions.”

Nemssis launches wedding collection Band Baaja Baarat

Band Baaja Baarat

India’s premier menswear brand, Nemssis launches wedding collection – Band Baaja Baarat. It is a stunning new luxury Kurta Fabrics Collection for men. Crafted for those who seek elegance and sophistication, this collection redefines style for every moment that matters.

Wedding season in India is a vibrant tapestry of traditions, emotions, and celebrations, where the splendor of dressing up for both the bride and groom reflects not only personal style but also cultural heritage. It’s a time when joy knows no bounds, creating memories that last a lifetime.

From wedding ceremonies, to grand celebrations, lively parties, and cherished special occasions, Band Baaja Baarat offers the perfect blend of tradition and modernity. Each fabric is thoughtfully designed to elevate your kurta outfits with premium quality, intricate detailing, and vibrant hues, ensuring you stand out effortlessly.

As you adorn yourself with this beautiful collection, you not only embrace the allure of exquisite embroidery but also become a part of India’s living tapestry, where past and present seamlessly intertwine to create a future woven with threads of tradition and creativity.

From an array of intricate embroidery to luxurious traditional fabrics — Nemssis is your wedding partner. Celebrate life’s milestones in unparalleled style with Nemssis – because every occasion deserves the very best.