- Bit by Bit
- Posts
- Bit by Bit 2nd Oct || 5G launched in the country || Passenger Vehicles see record jump in sales & More
Bit by Bit 2nd Oct || 5G launched in the country || Passenger Vehicles see record jump in sales & More
BGS Committee
October 01, 2022
Good Morning! Happy Shastri and Gandhi Jayanti!
Here are:
"5 amazing stories in 5 minutes to make you future ready"
Happy reading!
MARKET DATA
(Markets were closed on 1/10/2022, Saturday)
AUTOMOTIVE
Key Facts:
Maruti's domestic PV volumes jumped 135 percent y-o-y.
Hyundai's domestic despatches grew 50 percent y-o-y.
The domestic PV volumes of Tata Motors rose 85 percent y-o-y.
The Story:
The passenger vehicle (PV) segment in India registered its best-ever monthly performance in September, clocking domestic wholesale despatches of 3,55,946 units driven by the easing of the semiconductor shortage and robust demand amid the festive rush. The previous best show was recorded just two months back in July at 3,41,971 units.
During the July-September quarter, as many as 10,26,897 units of PVs were despatched. Not only was this the best quarter ever for the segment, but it was also the first occasion when more than 10 lakh PVs were despatched in a single quarter. In the April-June quarter, PV despatches stood at 9,10,431 units.
Besides, the April-September period also witnessed the best-ever half-yearly performance for the PV segment with total despatches of 19,37,328 units
FMCG
The Story:
David Steven McDaniel, the Fast Moving Consumer Goods (FMCG) company's Executive Director of Finance & Control and Chief Financial Officer, will leave his job on March 1, 2023, as said Nestle India in its regulatory filing.
McDaniel will begin a new task at Nestle Affiliate after resigning from his current role.
The business announced that Svetlana Boldina, who currently serves as the Head of Finance and Control of Nestle Indonesia, would take over for McDaniel. Boldina, a Russian national, has worked for Nestle in Indonesia, Indonesia, and Eastern Europe (present).
"On the suggestion of the nomination and remuneration committee, the aforementioned proposal shall be brought before the audit committee and the board of directors of the firm in the succeeding sessions for consideration,"
The largest food corporation in the world, Nestle SA, has stated that it would invest 5,000 crores to establish factories and research centers in India until 2025 as the third-largest country in Asia's increasing middle class increases spending on food and beverages.
According to chief executive Mark Schneider, who was in India for a week as one of the top 10 markets for the Swiss company, the increased investments will also be utilized to develop brands.
The company's "accelerated" plan to expand its presence and arm it with the tools to compete with rival Unilever's India subsidiary as well as regional behemoths like ITC Ltd. and Tata Consumer Products is indicated by the new investments made in India.
Nestle is increasing its focus on India, the country with the strongest economic growth worldwide, as it struggles with weak demand in Western markets plagued by decades-high inflation. Food businesses are more immune to price shocks, but persistently high inflation may compel customers to switch to less expensive goods.
TECH
Key Facts:
5G will have a cumulative economic impact of $1 trillion by 2035.
It can deliver an additional GDP of $150 billion for the country, between 2025-40.
At its peak, internet speeds on 5G could touch 10 Gbps, compared to the 100 Mbps peak of 4G.
The Story:
Bringing a new era in technology, the 5G telecom services were launched in India today. The technology seeks to provide seamless coverage, high data rate, low latency and highly reliable communications system.
5G technology offers latency as low as 1ms. For the unversed, latency is the time taken by the device to send packets of data and get a response. Shorter the latency, quicker the response.
5G will also usher in the ear of technology advances in the country such as Virtual Reality (VR), Augmented Reality (AR) and more. These technologies will have have end-to-end affect on multiple sectors - healthcare, agriculture, education, disaster management and others.
5G will also enable new services and products powered by Internet of Things (IoT) technologies. The advanced abilities offered by 5G networks will also drive new business models and will also transform the transport and mobility sector. Using 5G, a network of electric vehicles (EVs) and charging stations can be established to help maximise the cost-effectiveness of the EV ecosystem;
The Next-generation 5G network will also aid the remote working more effectively. 5G-powered smart buildings can help provide more comfortable working environment for the employees, boosting productivity along with reducing costs for employers.
5G technology will give a boost to the Industrial Revolution 4.0. The all-new 5G services will connect a variety of IoT (Internet of Things) sensors and devices to automate the scheduling of various processes and will also have an impact on the way of production and distribution of goods. Applications of 5G in the manufacturing sector includes reduced costs, lower down time, minimum wastage and improve productivity.It is expected to bring the logistics cost to 5% from 13-14% at present.
It will also have a big impact in the safety and surveillance sector it will enable remote control over disaster hit areas. It will also help in minimizing the role of humans in dangerous industrial operations such as in deep mines, offshore activities etc.
GEOPOLITICS
S. Jaishankar: India must continue to believe in the power of diplomacy
While addressing the 77th General Assembly by Minister of External Affairs said that India believes in the power of diplomacy and tries to resolve conflict by mutual understanding and collaborating with each other. Mr. Jaishankar said that India is filling the humanitarian needs and coming out as a relief provider to other countries, mentioning the $3.8 Billion worth of credit to Sri Lanka, supplies of 50,000 metric tons of wheat and medicines to Afghanistan, and supply of 10000 metric tons of food aid and vaccine shipments to Myanmar. India always stands strong for the help of the allies’ countries. When the whole world is only looking out for their problems, India tries to resolve the problems of other countries also.
Many times, the question is raised for India, about its side of Russia -in the Ukraine war and India’s reply is that we are on the side of peace, and we are on the side of dialogue and diplomacy. India enjoys good relationships with both countries, as we know that Russia is our historical partner, and we also strengthen our ties with the west. India thinks in the interest of the international community to work together and try to fight against many other social issues like terrorism, climate change, and poverty. We can’t fight against this kind of situation without working as a collaborative society.
As India believes in the policy of dialogue and diplomacy. India tried to resolve her issues with China with dialogues, after clashing at the Galwan Valley between the Indian and Chinese army, both the countries tried to resolve the issue through rounds of military talks. India has cleared its stance on all three different arenas, the Russia-Ukraine war, the Indo-pacific, and her neighborhood, south Asia. India is an important strategic country for many countries. Many countries try to build relations with India because of her capability to counter China and substitute it as a global manufacturing hub.
Want More Bits?
The Story:
While opening the India Mobile Congress (IMC) 2022 expo at Pragati Maidan in Delhi on Saturday, Prime Minister Narendra Modi had the chance to try numerous applications of 5G technology first-hand.
After officially opening the IMC 2022, he tested out several applications, including operating a 5G-enabled remote car that was put up within the booth of the Swedish telecom company Ericsson.
PM Modi took control of the vehicle in Sweden using a 5G-enabled solution while seated behind the wheel that was put up inside the Ericsson booth at the IMC 2022 show. Modi completed a course within a building in Sweden while utilising controls in Delhi that were connected to the model using 5G technology.
Soon after the start of the event, pictures of PM Modi at the wheels were posted on social media. Modi urged homegrown entrepreneurs to develop 5G use cases while touring several 5G pavilions during the four-day India Mobile Congress (IMC) 2022.
He also stopped by the booth of a group of over 100 local entrepreneurs that are working together to create 5G solutions to address India's real-time issues with healthcare, education, disaster management, and other areas.
PM Modi spent time at the Jio Pavilion inspecting the "True 5G" gadgets and learning about how a team of Jio engineers developed end-to-end 5G technology locally.
