Businessmen in the News

SBI Card has launched three variants of its first travel-focussed core credit card, ‘SBI Card MILES’. The card aims at bringing holistic travel benefits to travellers of all kinds – travel aspirers to frequent fliers to travel aficionados. SBI Card MILES offers compelling features that include conversion of Travel Credits to Air Miles and Hotel Points, accelerated rewards on every travel booking, and airport lounge access among others. Empowering cardholders with absolute choice of redemption, the card now partners over 20 airline and hotel brands including Air Vistara, Air India, SpiceJet, Air France-KLM, Etihad Airways, Air Canada, Thai Airways, Qantas Airways, ITC Hotels, IHG Hotels & Resorts, and Accor among others. “The strong economic growth and robust consumption landscape has accentuated India’s position in the world. Even in travel sector, today, India is considered amongst the key source markets for outbound travel in many countries including those in Asia and Europe. I congratulate SBI Card on the launch of SBI Card MILES, a strong product that will redefine the travel experiences for Indian consumers,” said Dinesh Kumar Khara, Chairman, State Bank of India. 

The Kolkata-based Cosmic Birla Group, which has recently entered into electric mobility space, is planning to set up a facility in West Bengal for the production of electric two-wheelers. The group also intends to launch electric three-wheelers and cars in the commercial vehicles space. It is looking to produce three-wheelers first in 2026-27. “We are setting up a new production facility at Domjur in West Bengal’s Howrah district in the next three-four months,” says Aditya Vikram Birla, chairman & MD, Cosmic Birla Group. “We have acquired land and construction for the plant has started. Total investment would be about R50 crore for the facility, which will produce electric two-wheelers”. Production capacity of the Bengal plant would be about 15,000 vehicles per annum. The group entered into electric mobility space by acquiring Maharashtra-based EV maker Raft Motors six months ago. Last fortnight, Raft Motors launched four models of electric scooters under the brand Raft Cosmic EV. Now, the company has five e-scooters and one electric bike in its product portfolio. “We have big plans in the EV segment. We want to enter into three and four-wheelers space. We are looking to produce electric three-wheelers first in the financial year 2026-27,” Birla adds. 

According to Rodolfo Hrosz, managing director, Sanofi India, the company is ‘resetting its footprint’. The French healthcare major has lined up an array of innovative products for India, he added. “What worked for us in the past may not be what we need for future growth and therefore we have embarked on a journey of resetting our footprint in India, making our business fit for future growth,” Hrosz explained, while unveiling the strategy for the company in India. Sanofi announced the availability of Soliqua – its pre-filled insulin pens – in the Indian market, and Rezurock, a post-transplant treatment, is being lined up for the end of 2024/ early 2025. Other ‘super innovative therapies’ being evaluated for India included Dupixent (for atopic dermatitis); Tzield (that delays the onset of stage 3 Type 1 diabetes) and Beyfortus (a vaccine against RSV: Respiratory syncytial virus), he explained. Last month, Sanofi formalised three ‘customised’ distribution partnerships with Emcure, Cipla and Dr Reddy’s Laboratories for its cardiovascular, central nervous system (CNS) and paediatric/ adult vaccine brands, respectively – leading to concerns on possible deprioritisation of the local business, as witnessed with some industry peers. “One important detail – we didn’t sell the brands,” Hrosz said, brushing aside concerns. “We continue to own, produce and book sales on these brands. They are still our brands.” 

South Korean auto giant Hyundai Motor India will introduce five new electric vehicles (EVs) by 2030. The Chennai plant will build the company’s first electric sports utility vehicle by the end of 2024. Hyundai India and Kia recently signed an agreement with Exide Energy Solutions for the local production of batteries for EVs. Euisun Chung, executive chair, Hyundai Motor Group, who visited India recently, addressed his first overseas town hall meeting with Hyundai Motor India employees. “By 2030, we expect to see a substantial expansion in the EV market. In anticipation of this evolution, Hyundai is focussed on developing locally tailored EVs aimed at establishing us as a leading global EV brand,” said Chung. “We also plan to proactively build charging stations at strategic locations – including dealerships – to facilitate the adoption of EVs.” Kia India, an independent company of the Hyundai group, will start producing its EV for the local market in 2025 and expand later. The company will also focus on building EV charging infrastructure. “India is among the fastest-growing economies globally, and as this growth continues the strategic importance of Hyundai Motor India will only increase. By leveraging our strong reputation and competitive quality in India, we aim to expand exports to neighbouring countries, making India the global export hub to boost our regional market competitiveness,” said Chung. 

DP World, a leading global provider of smart end-to-end supply chain solutions, has commenced warehousing operations in Loutulim, Goa. “At DP World, we are committed to building an integrated multi-modal supply chain network that will unlock trade opportunities for customers,” said Anoop Chauhan, head, contract logistics & cold chain solutions, DP World Subcontinent, speaking about the new warehouse in Goa. “The addition of our Grade A warehouse in Goa will strengthen our expanding warehousing network and deliver customers in the region with a seamless supply chain experience. This facility enabled with advance warehouse management systems will serve as a pivotal hub, providing customers with links to multiple markets within the country, thereby driving trade growth at local and national level.” This facility adds to DP World’s warehousing network of over 5 million sq ft in India, strategically spread across more than 60 locations.  The Grade A warehouse in Loutulim will benefit chemical goods traders in Goa by providing them with customisable storage solutions, assured hygienic storage conditions, facility design and development, secondary distribution services, and complete visibility of shipment with reports and documentation like dashboard of stock available.  Additionally, customers will also benefit from DP World’s seamless logistics solutions that will optimise their supply chain for maximum efficiency and cost-effectiveness in Goa and beyond. 

Arnab Banerjee, MD & CEO, CEAT Ltd, has been elected as the new chairman, Automotive Tyre Manufacturers’ Association (ATMA), the national industry body for the automotive tyre sector in India. Having joined CEAT in the year 2005 as vice-president, sales & marketing, Banerjee has shouldered several responsibilities and was the COO at CEAT since 2018 prior to taking over his current role. “Tyre industry is a crucial segment in India’s automotive sector supporting mobility and a nation on the move. Indian tyre industry has been tirelessly embracing technological advancements and innovation in manufacturing processes, product design and performance standards. Indian made tyres are exceeding customer expectations globally for durability, safety and efficiency. During my tenure as Chairman ATMA, I would wish to leverage different forums for communicating the unique strengths of the resilient and vibrant tyre industry which is driving India on to the road of progress,” said Banerjee. 

Luxury hospitality major Raffles Udaipur has announced the appointment of Kartik R. Bhat as the director, talent & culture. With over two decades of exemplary experience in Human Resources within the hospitality sector, Kartik brings a wealth of expertise and strategic vision to his new role. In his previous engagements, including his tenure as general manager, HR/L&D, Red Apple (Toscano & SALT), Kartik displayed unparalleled leadership and transformative initiatives. His contributions extend beyond conventional HR realms, with instrumental involvement in landmark events such as the FIFA World Cup 2022 and Dubai Expo 2020, where his leadership played a pivotal role in project success. As director, talent & culture, Raffles, Udaipur, Kartik is poised to redefine excellence within hospitality HR. Embracing the ethos of Raffles Udaipur, Kartik is dedicated to fostering a culture of excellence, wherein talent is nurtured, and employee well-being takes centre-stage. His track record of consistently enhancing Engagement scores and implementing innovative programmes aligns seamlessly with Raffles Udaipur’s commitment to delivering unparalleled service and crafting unforgettable guest experiences. “I am truly honoured to join the prestigious team at Raffles Udaipur,” said Kartik. “I am excited to lead the Talent and Culture department and contribute to the legacy of excellence that defines the Raffles brand. Together, we will continue to uphold the highest standards of hospitality while nurturing a culture of inclusivity, growth, and unparalleled service.”

The Eighth edition of Children, Baby, Maternity Expo India (CBME India) recently concluded in Mumbai. The event returned after five years, with renewed vigour and strategic understanding of the dynamic market, reclaiming its position as India’s foremost sourcing event for Child Baby Maternity Products. The Indian baby care products market is poised for a substantial growth, which is estimated at $4.42 billion in 2024, and is expected to reach $7.71 billion by 2029, growing at a CAGR of 11.76 per cent during the forecast period (2024-29). “We’ve been part of CBME India since its inception, and our commitment remains strong as we restart this year. We believe there’s immense potential for child and baby care products in India, where awareness and penetration are still in their early stages. Chicco being a leading global brand in this space, with roots in Italy, we’ve witnessed the evolution of the industry firsthand. Over our 14 years in India, we’ve ensured that parents have access to a wide range of differentiated products”, said Rajesh Vora, CEO, Chicco India. “CBME India embarked on a journey in a sector catalysed by rising income, increased awareness of maternal and child health, and a cultural shift towards self-care during pregnancy and beyond”, added Yogesh Mudras, MD, Informa Markets in India.