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mariacallous · 1 year ago
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In 2020, Nazia was working at a data entry office in Hyderabad, but dreamed of being a beautician. Then, on YouTube, she saw a video about Urban Company, a platform similar to the US site TaskRabbit, which promises to connect workers—plumbers, electricians, painters, beauticians, and others—with clients who need their services. Workers who join the platform as beauticians often pay upward of $500 to register and receive a salon equipment kit. For Nazia, it felt like an investment worth taking.
When it launched in 2014, Urban Company was revolutionary for India’s disjointed home services market, providing customers with vetted and trained workers through an easy-to-use interface. Nazia was one of tens of thousands of workers who joined the platform, which grew and grew thanks to consecutive rounds of fundraising from investors including Tiger Global and Prosus Ventures, becoming the largest home services provider in India, valued at almost $3 billion. Then it expanded into the United Arab Emirates and Singapore. In 2023, it launched in the US.
For workers it promised an opportunity to work flexibly, and earn well. In 2020, Fair Work, a research group that studies gig work companies, rated the company the best for workers in India, giving it a score of eight out of 10 on parameters that include fair pay and working conditions. (Uber scored one out of 10).
Nazia got stellar ratings and reviews from customers on the platform—so much so that she was invited to pay $300 to upgrade her account to Prime, which gave her access to better-paying jobs.
“Everything was going great,” she says. “With the money I made, I was able to help my family, buy a two-wheeler, and save money for my wedding.”
Urban Company fostered an identity for itself that was different from other gig work platforms, particularly for women. But since the start of the year, things have gone downhill, fast. Thousands of workers have found themselves arbitrarily dumped from the platform for not meeting new targets that they say have been set unattainably high. Nazia is among them. The platform, it seems, is subject to the same cycle of “enshittification” as its peers, sacrificing the incentives it had offered to get workers onto the platform in order to turn a profit—and abandoning its promises of flexibility in the process.
Urban Company declined to comment.
The first sign of trouble at Urban Company started in 2021, as the pandemic hit the home services business. The company slipped in Fairwork’s rankings, scoring five out of 10. Workers twice held protests demanding lower commissions and safer working conditions. After a media storm, Urban Company published a Medium blog introducing a “12 point program” to “improve partner earnings and livelihood”—which included lowering commissions and introducing an SOS helpline for women’s safety. In an attempt to be more transparent, the company started publishing a partner earnings index, but it also filed lawsuits against four protesters for “illegal and unlawful” actions.
But things got really difficult for Urban Company’s workers in 2023. The platform introduced a new rule stipulating that workers had to maintain an acceptance rate of at least 70 percent, a customer rating of at least 4.7 out of 5, and cancel fewer than four jobs per month. Failure meant being blocked from the app. Nazia managed to keep her ratings above 4.8 until May 2023, when they slipped to 4.69. She was temporarily blocked and put into “retraining”—an online video course followed by 10 bookings that she had to take free of charge in an attempt to boost her rating. Unfortunately, for Nazia, her rating did not budge from 4.69. Since then, she’s been out of work.
“It all happened so quickly,” Nazia says. Now she’s stuck with $2,500 in loans.
I spoke to more than a dozen women like Nazia, all of whom asked for anonymity to protect themselves from retribution and say they were blocked by the platform after failing to meet what they believe were unrealistic expectations.
In Bengaluru, Shabnam—who used a friend’s credit card to pay the $500 joining fee—found that Urban Company started assigning her jobs farther and farther away from home. With rising costs and high commissions, taking these distant trips was “as good as earning nothing,” she says. She turned down the jobs that weren’t economically viable, and soon her response rate—the number of jobs she accepted—dropped to 20 percent. In June, she was dropped from the platform.
Seema, who had worked for Urban Company for five years, had a miscarriage earlier this year. As she was being rushed to the hospital, she didn’t have time to mark in the Urban Company app that she wasn’t able to work that day. Her acceptance rate of bookings fell to 30 percent. She couldn’t get her rate back up to the mandated 80 percent, and she was permanently suspended from the platform. “I went to the office with the doctor’s prescription and everything. They still did not agree to reinstate my account,” Seema says.
In Hyderabad, Sunanda says her account was deactivated earlier this year after a death in the family meant she had to cancel some jobs. She pleaded with a company representative on its helpline and in person—she even submitted the death certificate, but she’s still blocked. “They said they cannot reinstate my account because my rating is not 4.7 or above. I told them my rating is 4.69 and if they give me a chance I will bring it back up, but they refused,” Sunanda, 42, said. “They have given the customers this one weapon: ratings.”
As well as the stick of targets and quotas, Urban Company also offered a carrot for workers: shares in the business.
In 2022, the company announced its Partner Stock Options Program (PSOP), granting shares worth $18 million over the next five to seven years. The following November, they awarded stocks worth approximately $635,000 to 500 partners. But while the PSOPs seemed to be almost guaranteed for workers, the process of accessing them is heavily gamified.
Pratima, an Urban Company beautician, was very excited at the end of 2022 when she realized she’d made it to the top 10 list of workers in her category in Bengaluru. If she continued to stay in the top 10 until April, she was told she’d be granted the company’s stock options that following November. “They call us partners, but don’t treat us like it,” said Pratima, requesting to be referred to under a pseudonym. “I was hoping that if I get a share in the company, maybe then I will be treated like a partner.”
By February, Pratima had completed more than 200 jobs, and she was still in the top 10. Then, a series of low ratings by disgruntled customers pulled down her overall rating, blocking her temporarily and dropping her off the leaderboard. She kept at it, worked back-to-back jobs, and got herself unblocked and back into the rankings. April came around, and she was in the top 10. But then the company seemed to have extended the contest—the leaderboard has kept on counting, but the workers don’t know what’s going on. “It’s like they are making us run a marathon in the name of shares,” she says.
For women who were sold Urban Company’s promises of flexibility and empowerment, the shock of losing their livelihood or being forced to work longer and longer hours has been exacerbated by a sense of betrayal.
“For women especially, a lot of times they have care responsibilities at home, and so there’s hope to find work that’s flexible, that allows them to pick up their kids from school or take junior to the doctor,” says Alexandrea Ravenelle, an author of two books on gig work and a sociology assistant professor at the University of North Carolina Chapel Hill. “A lot of these platforms are playing off of that need for flexibility because, for many of the workers who are coming to these platforms, an alternative isn’t a white-collar job in a tech office where they can bring the play pen and set the kid up.”
The mismatch between the promise of these platforms and their reality becomes clear when the businesses move from their early growth phase, in which they are able to burn investors’ cash, to one where they have to start to turn a profit.
When two-sided marketplaces that match workers with clients grow, they try to make things as comfortable as possible for workers to create a deep pool of available services. “The shortcut way to do this is to offer incentives to them—be it sellers, drivers, or other gig workers—showing them that this is a lucrative business,” says Rutvik Doshi, a general partner at VC firm Athera Venture Partners.
Companies spend big on marketing as they try to grow as fast as possible (during the 2021–2022 financial year, Urban Company spent close to $30 million on marketing and clocked a loss of over $60 million), working on the assumption that one day the demand for their services will become organic, the suppliers will start making enough money without incentives, and the platform will be able to raise the commissions it takes off its workers.
But when this doesn’t happen, companies desperately rework their models. When they need to curb spending, or when they struggle to raise new funding, marketing is the first thing they cut. Demand drops, creating an oversupply of workers on the platform. “And the excessive supply on the platforms feels the pinch. That’s the typical cycle with a two-sided marketplace,” Doshi says.
On July 10, Urban Company CEO Abhiraj Bahl released a video to the company’s workers explaining the new strict policies. He said that each year, 45 percent of customers use the platform just once and don’t make a second booking, while 15 to 20 percent of workers leave. “And as a result of all of this, Urban Company is still a loss-making company,” he said in the video, part of which has been viewed by WIRED. “So we are losing customers and we are also losing money.”
He blamed the decline in customers on “poor quality service” and “off-platform jobs”—that is, workers making private arrangements with clients and taking their work off Urban Company, something that’s a serious risk to the company’s model. “It’s kind of an existential question: They need the workers and the customers to stay on their platform in order to remain an intermediary,” says Ambika Tandon, a tech and labor researcher at the Center for Internet and Society think tank.
All of this has led the company to push its workers into a mold that essentially has all the downsides of regular employment but few of the benefits. For workers who joined the platform for its flexibility and autonomy, this reality of platform work becomes difficult to reconcile with.
“Urban Company is trying to imagine an ideal worker for this particular model to be someone who is always available, gives their 100 percent, [doesn’t] cancel at all, has no family responsibilities,” Tandon says. “But a lot of these workers are single parents, who have family responsibility and children to take care of. These are not folks who will fit into this model of having a 80 percent, 90 percent acceptance rate.”
In June, WhatsApp groups used by Urban Company workers were flooded with messages about one of their peers, who had reportedly died by suicide after the company deactivated her account—leaving her with no source of income. Several workers I spoke with said that while the news was shocking, none of them knew the victim. “We were vexed,” Seema from Bengaluru says, “But the problem is that all of us are so isolated from each other. The platform doesn’t have any get-togethers, nothing. We all don’t have any relationships, which is a plus point for Urban Company.”
But, like their peers across the platform economy, Urban Company workers are now getting organized. In June and July, hundreds of Urban Company workers took to the streets in Mumbai, Delhi, Bengaluru, and Kolkata. Shabnam was present at one of the protests last month in Bengaluru, demanding that the company reinstate her account. With this, they have joined thousands of Indian gig workers from Uber, Ola, Swiggy, Blinkit and more.
There have been at least half a dozen such protests across different cities in India since the beginning of the year—all of them essentially fighting for the same reasons: better pay and working conditions, a ban on unfair practices, and laws governing gig work that workers can lean on for safety and protection. “It’s not just Urban Company that has been blocking accounts,” said Shaik Salauddin, founder of Telangana Gig and Platform Worker Union. “Ola, Uber, Swiggy, Zomato, Amazon, Flipkart—all aggregator companies are doing this.”
Rikta Krishnaswamy, a coordinator with the All India Gig Workers Union, said that the union has had conversations with the labor departments across different cities, including Delhi and Pune. Another meeting is coming up in Mumbai. “We have raised complaints against these illegal dismissals, and the labor departments in Delhi, Noida, and Gurugram have sent notices to the company for a meeting,” she said. “Let’s see if they actually show up.”
Some of the workers whose accounts were blocked have been able to get it reinstated, provided their rating was not lower than 4.7 and they weren’t blocked for trust and safety issues. But, if the video shared by Bahl is any indication, things are only going to get worse by the end of the year. The company has launched a salon quality improvement program called Project Shakti, under which, by December, the performance metrics are going to get even stricter for beauticians: an acceptance rate greater than 80 percent, no more than three monthly cancellations, and “100 percent orders delivered on UC app only.” The rating threshold will continue to be at a minimum of 4.7.
The new policy is being hammered home. Workers whose accounts have been reinstated and those already active on the platform are being called for a meeting to the Urban Company office in small groups of around 10. Some have to watch Bahl’s video. Then they are presented with new terms and conditions to sign, which include consent for them to be permanently blocked from the platform if they miss their targets.
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janetushar1 · 3 days ago
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Biosensors Market to Hit $45.95 Billion by 2032
The global Biosensors Market was valued at USD 26.75 Billion in 2024 and it is estimated to garner USD 45.95 Billion by 2032 with a registered CAGR of 7% during the forecast period 2024 to 2032.
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The global Biosensors Market is fragmented with various key players. Some of the key players identified across the value chain of the global Biosensors Market include Abbott (US), Roche (Switzerland), Medtronic (Ireland), Bio-Rad Laboratories Inc. (US), DuPont (US), Biosensors International Group Ltd. (Singapore), CYTIVA (UK), Dexcom Inc. (US), LIFESCAN IP Holdings LLC (US), Masimo (US), Nova Biomedical (US), Universal Biosensors (Australia) and others. etc. Considering the increasing demand from global markets various new entries are expected in the Biosensors Market at regional as well as global levels.
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reedintelligence · 10 days ago
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Dyes & Pigments Market Industry Outlook By Forecast Period 2024-2032
The latest study released on the Global Dyes & Pigments Market by Straits Research, Research evaluates market size, trend, and forecast to 2032. The Dyes & Pigments Market consider covers noteworthy inquire about information and proofs to be a convenient asset record for directors, investigators, industry specialists and other key people to have ready-to-access and self-analysed study to help understand market trends, growth drivers, openings and up and coming challenges and approximately the competitors.
Pigments and dyes are two types of colorants that find widespread application in the printing, textile, and automotive sectors, respectively. Dye compounds are ionizing and aromatic substances, and they have a strong attraction to the surface to which they are applied. In order to modify the color of dyes, color modifiers such as methyl and ethyl groups are frequently utilized. In addition to their usage as colorants in a wide variety of polymer and textile dyeing applications, dyes are also utilized in the field of biotechnology.
The global dyes & pigments market size was valued at USD 36.2 billion in 2021 and is projected to reach USD 58.26 billion by 2030, registering a CAGR of 5.43% from 2022 to 2030.
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The Chemours Company
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Straits Research is dedicated to providing businesses with the highest quality market research services. With a team of experienced researchers and analysts, we strive to deliver insightful and actionable data that helps our clients make informed decisions about their industry and market. Our customized approach allows us to tailor our research to each client's specific needs and goals, ensuring that they receive the most relevant and valuable insights.
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ykgglobal · 15 days ago
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Navigating Success with YKG Global: Simplicity in Business Advisory and Legal Services.
YKG Global is the premier Tax Advisory (NRI) and legal services provider with over 40 years of experience. Headquartered in Delhi and Noida, YKG Global serves clients across the globe through more than 20+ countries where it has its offices. Followed by more than 200 professionals, the most traditional values are combined with tech-driven solutions, providing business registration and regulatory compliance, and supporting litigation matters. Specializing in setting up an international company and doing all legal compliance work, we help any-sized businesses achieve sustainable growth. YKG Global is your business partner who will navigate you through the treacherous waters of complex business landscapes inside India and beyond.
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Source- https://www.ykgglobal.com/blog/about-ykg-global
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blaze-papers · 2 months ago
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Bajaj Housing Finance IPO Allotment Finalized: How to Check Your Status and Insights on GMP
The share allotment for the Bajaj Housing Finance IPO has been concluded, with successful applicants starting to receive bank debit notifications. Investors who were not allocated shares will soon have their funds returned. The shares are scheduled to be listed on Monday, September 16, and the latest Grey Market Premium (GMP) suggests a potential return of up to 112% on listing day.
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The IPO, which was open for public subscription from September 9 to September 11, saw a remarkable oversubscription rate of 67.43 times. The offer attracted bids for 46,25,57,71,082 shares, significantly surpassing the 68,60,00,009 shares on offer. The price band for the offering was set between Rs 66 and Rs 70 per share.
How to Check Your IPO Allotment Status:
Visit the official BSE website: BSE IPO Status.
Select ‘Equity’ under ‘Issue Type’.
Choose ‘Bajaj Housing Finance Ltd’ from the ‘Issue Name’ dropdown menu.
Enter your application number or PAN.
Complete the CAPTCHA verification and click ‘Search���.
Alternatively, check the allotment status directly on Kfin Technologies' portal: Kfin Technologies IPO Status.
Bajaj Housing Finance IPO: GMP Today
As of today, unlisted shares of Bajaj Housing Finance Ltd are trading at a Rs 78 premium in the grey market, indicating an expected listing gain of approximately 111.43% from the issue price. The GMP reflects market sentiment and may fluctuate.
IPO Details
The IPO comprises a fresh issue of equity shares worth up to Rs 3,560 crore and an offer-for-sale (OFS) of up to Rs 3,000 crore by its parent company, Bajaj Finance. This IPO is part of Bajaj Housing Finance's compliance with Reserve Bank of India's (RBI) regulations, which mandate upper-layer non-banking finance companies (NBFCs) to be listed by September 2025.
Before the public offering, the company secured Rs 1,758 crore from anchor investors, including the Government of Singapore, Abu Dhabi Investment Authority, Fidelity, Morgan Stanley, and several major mutual funds and financial institutions. The funds raised through the fresh issue will enhance the company’s capital base to support future growth.
Registered with the National Housing Bank since September 2015, Bajaj Housing Finance is a non-deposit-taking housing finance company offering financial solutions for residential and commercial property purchases, renovations, and more. It has been classified as an “upper-layer” NBFC by the RBI.
For the financial year 2023-24, Bajaj Housing Finance reported a net profit of Rs 1,731 crore, marking a 38% increase from Rs 1,258 crore in FY23.
Recent months have seen successful listings of other housing finance companies like Aadhar Housing Finance and India Shelter Finance. Bajaj Housing Finance filed for a Rs 7,000 crore IPO in June, which received approval from the market regulator earlier this month. Kotak Mahindra Capital Company Ltd, BofA Securities India Ltd, SBI Capital Markets Ltd, Goldman Sachs (India) Securities Private Ltd, and JM Financial Ltd are the book-running lead managers for this IPO.
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news-today-florial-blog · 2 months ago
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Bajaj Housing Finance IPO: Check Price, GMP, Guidelines, Quota, Issue Size
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Bajaj Housing Finance IPO much-anticipated is set to open for public subscription on Monday, September 9. On the previous Friday, the company raised Rs 1,758 crore from anchor investors. The IPO, which totals Rs 6,560 crore, has a price band set between Rs 66 to Rs 70 per share.    Important IPO Dates The IPO will open on September 9 and close on Wednesday, September 11. The allotment of shares is expected to be finalized by September 12, with the listing scheduled on both BSE and NSE on September 16.    IPO Quota Allocation The IPO quota is divided into different investor categories: - 50% is reserved for qualified institutional buyers (QIBs) - 35% for retail investors - 15% for high-net-worth individuals (HNIs)   Additionally, Rs 500 crore worth of shares are reserved for the shareholder quota, available to eligible shareholders of Bajaj Finance Limited and Bajaj Finserv Limited as of the Red Herring Prospectus date (August 30, 2024). Only bids at or above the issue price will be considered.    Price Band and Issue Size The price band for the Rs 6,560 crore IPO has been fixed between Rs 66 and Rs 70 per share. This includes a fresh issue of equity shares worth Rs 3,560 crore and an offer for sale (OFS) of Rs 3,000 crore by the parent company, Bajaj Finance.    Gray Market Premium (GMP) for Bajaj Housing Finance IPO Market watchers report that the unlisted shares of Bajaj Housing Finance Ltd are trading at a Rs 50 premium in the gray market, indicating a 71.43% expected public benefit over the issue price. The gray market premium is driven by market sentiment and may fluctuate.    Analysts' Recommendations Analysts are generally optimistic about the IPO. Anand Rathi has given a 'buy' recommendation, citing the Rs 7,000 crore fundraising as a catalyst for Bajaj Finance's (BAF) stock performance. The brokerage notes Bajaj Housing Finance’s higher return on equity (RoE) and return on assets (RoA), which justify premium valuations.   On the other hand, InCred Equities has issued a 'hold' recommendation, acknowledging that while Bajaj Housing Finance trades at a higher multiple compared to peers like LIC Housing Finance (1.2x) and PNB Housing (1.7x), it still finds the stock attractive due to 30% CAGR AUM growth, solid asset quality, and a strong tech platform.    More on Anchor Investors Prominent anchor investors include the Government of Singapore, Abu Dhabi Investment Authority, Fidelity, Morgan Stanley, and other major institutions like HDFC Mutual Fund, SBI Life Insurance, ICICI Prudential Life Insurance, and Goldman Sachs. A total of 25.11 crore equity shares have been allocated to 104 companies at Rs 70 per share, bringing the anchor investment total to Rs 1,758 crore.    IPO Objectives and Regulatory Compliance The IPO has been launched in compliance with Reserve Bank of India (RBI) regulations, requiring top-tier non-banking financial companies (NBFCs) to be listed by September 2025. Proceeds from the fresh issue will be used to expand the capital base to meet future business needs.    Company Background Bajaj Housing Finance has been registered with the National Housing Bank since September 2015, offering a range of financial solutions, including home loans, property loans, and developer financing. For the fiscal year 2023-2024, the company reported a net profit of Rs 1,731 crore, marking a 38% increase over the previous year.    Lead Managers and Recent Listings Lead book managers for the IPO include Kotak Mahindra Capital, BofA Securities India, SBI Capital Markets, Goldman Sachs (India) Securities, and JM Financial. Recently, other housing finance companies like Aadhar Housing Finance and India Shelter Finance have also listed on the stock market. Read the full article
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indiatimes-news · 1 year ago
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Modus operandi unraveled: How over Rs 600 crore were siphoned out of country
The outward remittances were done illegally in the garb of third party payments against import of garments from Bangladesh.
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Delhi Police's Special Cell registered an FIR in October 2021 regarding a syndicate that channeled money obtained through various criminal activities out of the country. This included Proceeds of Crime ( POC) obtained through illegal Chinese loan apps, illegal online gamings and also illegal bettings.
The wide network of this syndicate can be gauged from the fact that the case was first taken over by Delhi Police in October 2021. It was later transferred to the Enforcement Directorate ( ED) that is probing the matter and recently made an arrest on July 13.
From the documents that have been accessed by Republic Digital, it is mentioned categorically how accused persons, the fraudulent companies created by them on the pretext of forged documents were involved in opening of bank accounts both within and outside country and have taken out funds to the tune of Rs 338 crore.
To begin with, fake identities like Aadhaar, PAN cards and Voter ID cards were used for creating shell firms and opening multiple bank accounts.
In continuation to this, shell firms were also opened in Hong Kong, China, UAE, Singapore and Malaysia. The money that was deposited in Indian bank accounts was then successfully routed through RTGS/ NEFT.
The probe in this case by the agencies led them to get hold of Ashish Kumar Verma. It was found that Ashish along with the accomplices were able to create 18 shell firms and multiple accounts not only in private but also public banks.
Investigations have also revealed that Ashish is one among many in this huge syndicate that was successfully taking out hundreds of crores from the country.
As per law enforcement officials the other major characters involved in this crime of money laundering included Praveen Kumar based in Dubai who was involved in creating fake firms abroad, and Vipin Batra who used to be in touch with Ashish and gave him directions on how the modus operandi had to be implemented. Vipin Batra was recently arrested by the ED on July 13. He is being interrogated.
The mastermind of this syndicate is said to be Pawan Thakur, a Dubai-based bookie and an international Hawala operator. As per law enforcement officials, he is the mastermind in incorporating entities within India as well in foreign countries for remitting funds from India and receiving such funds in foreign bank accounts.
Thakur used to provide forged documents to Vipin Batra who in turn used to send these documents to Ashish Kumar Verma for executing outward remittances. Thakur used to incorporate entities in foreign countries on the backing of passports of several Indian individuals.
The modus operandi proved to be so successful that the syndicate acquired foreign exchange to the tune of Rs 271 crore and successfully sent this amount to the foreign bank account of shell companies abroad in the garb of purported imports of services giving false declarations in turn to banks.
In this, 90 percent of the amount was sent to Dubai while 10 percent was sent to Singapore.
It did not just end here. During the investigations, it was further found that Pawan Thakur was working on a similar modus operandi and in connivance with people that have been identified as Rohit Sharma, Jatin Chopra, Anmol Srivastava, Deepak Kaushal and others for illegal outward remittances.
The outward remittances were done illegally in the garb of third party payments against import of garments from Bangladesh.
From this, funds to the tune of Rs 338 crore were channeled out to Hong Kong and Singapore. Some of the fake firms that were created are Perfect Solutions, Omega Technologies, RP investment and consultancy, Flappose Trade PVT ltd, Uniwide innovations.
Fake directors of these firms were created. Bank accounts of office boys were created by giving them Rs 15,000. On their names, SIM cards used to be bought from where banking transactions used to be done.
With some arrests made in this case so far, investigations are still on to get hold of major masterminds in this Hawala racket that has resulted in more than Rs 608 crore being siphoned off the country.
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exportimportdata13 · 2 months ago
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The Global Boom in Makhana Export from India: Insights, Trends, and Opportunities
Makhana, also known as fox nuts or lotus seeds, is gaining international recognition for its nutritional benefits and versatility. Originating from China and Southeast Asia, this nutritious seed is now a major export product from India. With its rising popularity and diverse applications, makhana has become a lucrative export commodity. This article delves into the key highlights of makhana export from India, including production statistics, major exporters, and market opportunities.
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1. Makhana Export Overview
1.1 Global Export Leaders
India dominates the global market for makhana, leading the world with a substantial 25,130 shipments. China and Pakistan follow, with 238 and 70 shipments respectively. This significant lead underscores India's pivotal role in the global supply chain of makhana.
1.2 Export Categories and Data
In India, makhana is exported under various HS codes, with the top categories being:
19041090: This code covers other cereals.
21069099: This category pertains to other food preparations.
08134090: This code is used for other dried fruits.
The total export volume of makhana from India for the 2023-24 period was 25,130 million metric tons. This highlights the scale and significance of India's makhana export industry.
2. Major Export Destinations
2.1 Top Importing Countries
India's makhana exports are primarily directed towards:
United States
United Kingdom
Canada
Australia
United Arab Emirates
Other notable markets include Singapore, Malaysia, Germany, Southeast Asia, and the European Union. The global appeal of makhana is driven by its health benefits and the rising demand for nutritious snacks.
3. Production Insights
3.1 Production Statistics
India is the world's largest producer of makhana, contributing 70-80% of the total global production. The state of Bihar is particularly prominent, producing over 80% of India's makhana. Here’s a breakdown of makhana production across Indian states:
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3.2 Key Cultivation Regions
Bihar's districts such as Madhubani, Darbhanga, and Sitamarhi are particularly suited for makhana cultivation. The favorable climate and soil conditions in these regions contribute to high-quality production.
4. Why Makhana Export is Profitable
4.1 Growing Global Demand
Makhana's nutritional profile—rich in fiber, minerals, and vitamins—makes it highly sought after globally. Its health benefits, including aiding digestion and supporting heart health, contribute to its popularity.
4.2 Market Trends
The global trend towards healthy eating and snacking drives the demand for makhana. Varieties such as peri peri, roasted, caramel, and chocolate makhana cater to diverse consumer preferences, further boosting export opportunities.
4.3 Government Initiatives
Indian government initiatives and support for the agricultural sector enhance the production and export of makhana. Policies aimed at improving quality and export logistics contribute to the sector's growth.
5. Key Exporters and Their Impact
5.1 Leading Exporters
Several prominent Indian companies are at the forefront of makhana exports:
Cilantro Food Products Private Limited
Shree Shyam Impex
Nathubhai Cooverji and Sons
House of Pura LLP
Al Shadik Export
These exporters play a crucial role in meeting global demand and ensuring the high quality of makhana products.
5.2 Exporter Statistics
India has 1,123 registered makhana exporters serving 2,969 buyers worldwide. This network of exporters and buyers facilitates the seamless global distribution of makhana.
6. How to Export Makhana from India
6.1 Steps for Exporting Makhana
To successfully export makhana, traders must follow these steps:
Business Registration and IEC Number: Register your business and obtain an Import Export Code (IEC) for international trade.
Find and Negotiate with Buyers: Establish connections with international buyers and negotiate terms.
Quality Assurance and Certification: Ensure that your makhana meets international quality standards and obtain necessary certifications.
Apply for Export License: Secure an export license and choose the appropriate shipping method.
Customs Clearance and Documentation: Ensure that all customs requirements are met and provide the necessary documentation.
7. Conclusion
Exporting makhana from India offers significant opportunities due to the product's increasing global demand. By leveraging export data and understanding market trends, Indian exporters can effectively navigate the international market. For more detailed information and assistance, resources such as Exportimportdata.in provide valuable insights and support for developing a successful makhana export business.
Frequently Asked Questions
Is makhana export profitable?Yes, exporting makhana from India is profitable due to rising global demand and the product’s health benefits.
How much makhana does India export?India exported 25,130 million metric tons of makhana in 2023-24.
Which country imports makhana from India?Top importers include the United States, United Kingdom, Canada, Australia, and the United Arab Emirates.
Who is the largest exporter of makhana in India?Leading exporters include Cilantro Food Products Private Limited, Shree Shyam Impex, Nathubhai Cooverji and Sons, House of Pura LLP, and Al Shadik Export.
Who is the largest producer of makhana in India? Bihar is the largest producer, contributing over 80% of India’s makhana production.
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fly-craft · 4 months ago
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Blockchain in Logistics: Enhancing Transparency and Traceability
The logistics industry, a critical backbone of global trade and commerce, is undergoing a transformative shift with the integration of blockchain technology. This technology, initially developed for secure cryptocurrency transactions, offers unparalleled potential for enhancing transparency and traceability in logistics and supply chain management. From international freight shipping to last-mile delivery, blockchain’s immutable ledger and decentralized nature can revolutionize how logistics companies operate, ensuring greater efficiency, security, and trust. Companies like CG Logistics, a leading logistics provider in India, are at the forefront of this transformation, leveraging blockchain to optimize their operations and deliver superior service to their clients.
Understanding Blockchain Technology
Blockchain is a decentralized digital ledger that records transactions across multiple computers in a way that the registered transactions cannot be altered retroactively. Each block in the chain contains a list of transactions, and when a block is completed, it is linked to the previous block, forming a chain of data. This technology’s core attributes include transparency, immutability, and security, making it an ideal solution for addressing the complexities and inefficiencies in logistics.
Enhancing Supply Chain Management
Transparency and Trust
Supply chain management involves multiple stakeholders, including suppliers, manufacturers, logistics companies, and customers. Each participant needs to trust that the information shared is accurate and tamper-proof. Blockchain provides a transparent and immutable record of all transactions, allowing every stakeholder to trace the journey of goods in real-time. This transparency reduces the risk of fraud, counterfeiting, and discrepancies in the supply chain.
Real-Time Tracking and Traceability
For international freight forwarders and cargo freight forwarders, real-time tracking of shipments is crucial. Blockchain enables end-to-end visibility of shipments, from origin to destination. With blockchain, every movement and transaction related to a shipment is recorded and accessible to authorized parties. This traceability is particularly beneficial for sectors requiring stringent compliance and monitoring, such as pharmaceuticals, food, and high-value goods.
Benefits for Freight Forwarding Companies
Efficiency in Documentation
Freight forwarding companies in India and globally often face challenges related to documentation and customs clearance. Blockchain can streamline these processes by providing a single, immutable source of truth for all parties involved. Smart contracts — self-executing contracts with the terms directly written into code — can automate agreements and transactions, reducing paperwork, administrative costs, and delays.
Enhanced Security
Security is a paramount concern for logistics service providers. Blockchain’s cryptographic features ensure that data stored on the blockchain is secure and cannot be altered without consensus from the network. This security reduces the risk of cyber-attacks and data breaches, safeguarding sensitive information related to international freight shipping, customs clearance, and warehousing solutions.
Improved Customer Experience
In a competitive market, providing a superior customer experience is essential for logistics companies. Blockchain enables customers to access real-time updates on their shipments, enhancing transparency and trust. For logistics firms in India and beyond, this improved visibility can lead to higher customer satisfaction and loyalty.
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electronalytics · 5 months ago
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Offshore Oil and Gas Communications Market Analysis 2023 Dynamics, Players, Type, Applications, Trends, Regional Segmented, Outlook & Forecast till 2033
Offshore Oil and Gas Communications Market anticipated to register a CAGR of 7.6%. During the forecast period 2024-2033
The competitive analysis of the Offshore Oil and Gas Communications Market offers a comprehensive examination of key market players. It encompasses detailed company profiles, insights into revenue distribution, innovations within their product portfolios, regional market presence, strategic development plans, pricing strategies, identified target markets, and immediate future initiatives of industry leaders. This section serves as a valuable resource for readers to understand the driving forces behind competition and what strategies can set them apart in capturing new target markets.
Market projections and forecasts are underpinned by extensive primary research, further validated through precise secondary research specific to the Offshore Oil and Gas Communications Market. Our research analysts have dedicated substantial time and effort to curate essential industry insights from key industry participants, including Original Equipment Manufacturers (OEMs), top-tier suppliers, distributors, and relevant government entities.
Receive the FREE Sample Report of Offshore Oil and Gas Communications Market Research Insights @ https://stringentdatalytics.com/sample-request/offshore-oil-and-gas-communications-market/11931/
Market Segmentations:
Global Offshore Oil and Gas Communications Market: By Company • ABB Ltd. • GE(Baker Hughes) • CommScope Inc. • Rignet Inc. • AT&T Inc. • Redline Communications Inc. • ITC Global Inc. • Speedcast • Huawei Technologies Co. Ltd • SpeedCast International Limited • Tait Communications • Airspan Networks Inc. • ERF Wireless Inc. • Alcatel Lucent S.A. Global Offshore Oil and Gas Communications Market: By Type • Cellular Communication Network • VSAT Communication Network • Fiber Optic-based Communication Network • Microwave Communication Network Global Offshore Oil and Gas Communications Market: By Application • Commercials • Demostration
Regional Analysis of Global Offshore Oil and Gas Communications Market
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Offshore Oil and Gas Communications market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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Key Report Highlights:
Key Market Participants: The report delves into the major stakeholders in the market, encompassing market players, suppliers of raw materials and equipment, end-users, traders, distributors, and more.
Comprehensive Company Profiles: Detailed company profiles are provided, offering insights into various aspects including production capacity, pricing, revenue, costs, gross margin, sales volume, sales revenue, consumption patterns, growth rates, import-export dynamics, supply chains, future strategic plans, and technological advancements. This comprehensive analysis draws from a dataset spanning 12 years and includes forecasts.
Market Growth Drivers: The report extensively examines the factors contributing to market growth, with a specific focus on elucidating the diverse categories of end-users within the market.
Data Segmentation: The data and information are presented in a structured manner, allowing for easy access by market player, geographical region, product type, application, and more. Furthermore, the report can be tailored to accommodate specific research requirements.
SWOT Analysis: A SWOT analysis of the market is included, offering an insightful evaluation of its Strengths, Weaknesses, Opportunities, and Threats.
Expert Insights: Concluding the report, it features insights and opinions from industry experts, providing valuable perspectives on the market landscape.
Report includes Competitor's Landscape:
➊ Major trends and growth projections by region and country ➋ Key winning strategies followed by the competitors ➌ Who are the key competitors in this industry? ➍ What shall be the potential of this industry over the forecast tenure? ➎ What are the factors propelling the demand for the Offshore Oil and Gas Communications? ➏ What are the opportunities that shall aid in significant proliferation of the market growth? ➐ What are the regional and country wise regulations that shall either hamper or boost the demand for Offshore Oil and Gas Communications? ➑ How has the covid-19 impacted the growth of the market? ➒ Has the supply chain disruption caused changes in the entire value chain? Customization of the Report:
This report can be customized to meet the client’s requirements. Please connect with our sales team ([email protected]), who will ensure that you get a report that suits your needs. You can also get in touch with our executives on +1 346 666 6655 to share your research requirements.
About Stringent Datalytics
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Syndicated market research reports, on the other hand, are pre-existing reports that are available for purchase by multiple clients. These reports are often produced on a regular basis, such as annually or quarterly, and cover a broad range of industries and market segments. Syndicated reports provide clients with insights into industry trends, market sizes, and competitive landscapes. By offering both custom and syndicated reports, Stringent Datalytics can provide clients with a range of market research solutions that can be customized to their specific needs.
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blueweave8 · 5 months ago
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Asia Pacific Sodium Nitrate Market Growth, Trends, Forecast 2023-2030
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Asia Pacific Sodium Nitrate Market size at USD 2.46 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Asia Pacific Sodium Nitrate Market size to expand at a CAGR of 6.15% reaching a value of USD 3.28 billion by 2030. By volume, BlueWeave estimated the Asia Pacific Sodium Nitrate Market size at 29.6 thousand tons in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Asia Pacific Sodium Nitrate Market size to expand at a CAGR of 6.94% reaching the volume of 35.9 thousand tons by 2030. The Asia Pacific Sodium Nitrate Market is expected to expand at a significant rate due to its widespread use in many sectors, such as manufacturing, explosives, construction, fertilizers, and others. Thriving construction and agriculture sectors are also spurring the demand for sodium nitrate across the Asia Pacific region.
Opportunity: Expanding agriculture sector driving demand for fertilizers
The Asia Pacific Sodium Nitrate Market is segmented into chemicals, fertilizers, explosives, glass, pharmaceuticals, food & beverages, and others, based on application. The fertilizers segment holds the largest share in the Asia Pacific Sodium Nitrate Market. As increasing demand for fertilizers serves as the primary driver for the sodium nitrate market. Fertilizers, which provide essential nutrition to plants, are crucial for enhancing agricultural productivity and ensuring food security. The major economies of Asia Pacific are agriculture-driven, such as India, China, Indonesia, and Vietnam, which drives the demand for fertilizers in the region.
Sample Request @ https://www.blueweaveconsulting.com/report/asia-pacific-sodium-nitrate-market/report-sample
Impact of Escalating Geopolitical Tensions on Asia Pacific Sodium Nitrate Market
The escalating geopolitical tensions are negatively impacting the growth of the Asia Pacific Sodium Nitrate Market. For instance, Russia and China are two of the biggest exporters of sodium nitrate, according to OEC World. However, Russia’s invasion of Ukraine resulted in sanctions on Russia by Western allies, including Japan, Taiwan, Australia, and South Korea. China, too, has a weak diplomatic relationship with India and other Western powers, including the United States. The sanctions and poor diplomatic relations disrupt the international trade of sodium nitrate, which affects its market supply, hinders its market growth.
Asia Pacific Sodium Nitrate Market
Segmental Coverage
Asia Pacific Sodium Nitrate Market – By Distribution Channel
Based on the distribution channel, the Asia Pacific Sodium Nitrate Market is segmented into direct sales, distributors, wholesalers, and online channels. The direct sales segment accounts for the highest market share. Costs are frequently lower when the product is purchased directly from a manufacturer and are one of the biggest contributors to the growth of the direct sales segment. Companies may provide their goods at a more competitive price by eliminating the intermediaries and the related expenses. However, online channels are anticipated to register the highest growth rate during the forecast period.
Asia Pacific Sodium Nitrate Market – By Country
The in-depth research report on the Asia Pacific Sodium Nitrate Market covers a number of country-specific markets, including China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Vietnam, and the rest of APAC. China dominates the Asia Pacific Sodium Nitrate Market owing to the strong agriculture sector and expanding construction activities for infrastructural development. China is the world's largest agricultural economy, producing around 20% of the food consumed worldwide. This has a direct impact on the country's demand for fertilizers, which drives the market for sodium nitrate to rise.
Competitive Landscape
Major players operating in the Asia Pacific Sodium Nitrate Market include China National Salt Industry Corporation (CNSIC), Shanxi Jiaocheng Tianlong Chemical Industry Co., Ltd, Jiangsu Huaihe Chemicals Group, Chongqing Chuandong Chemical (Group) Co., Ltd, Shanxi Xinhua Chemical Co., Ltd, Qingdao Lusbo Chem Co., Ltd, Jiaozuo Yuanbo Chemical Co., Ltd, Tianjin Xinyuan Chemical Co., Ltd, Nippon Soda Co., Ltd, and Tosoh Corporation.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
Contact Us:
BlueWeave Consulting & Research Pvt Ltd
+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662
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janetushar1 · 4 days ago
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In Vitro Fertilization Market to Hit $1024.2 Million by 2032
The global In Vitro Fertilization Market was valued at USD 617.5 Million in 2024 and it is estimated to garner USD 1024.2 Million by 2032 with a registered CAGR of 8.8% during the forecast period 2024 to 2032.
Global In Vitro Fertilization Market Research Report 2024, Growth Rate, Market Segmentation, In Vitro Fertilization Market. It affords qualitative and quantitative insights in phrases of market size, destiny trends, and nearby outlook In Vitro Fertilization Market. Contemporary possibilities projected to influence the destiny capability of the market are analyzed in the report. Additionally, the document affords special insights into the opposition in particular industries and diverse businesses. This document in addition examines and evaluates the contemporary outlook for the ever-evolving commercial enterprise area and the prevailing and future outcomes of the market.
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The Major Players Profiled in the Market Report are:-
The Cooper Companies Inc. (US), Cook Group (US), Vitrolife (Sweden), Thermo Fisher Scientific Inc. (US), Esco Micro PTE. Ltd. (Singapore), Genea Limited (Australia), IVFtech ApS (Denmark), FUJIFILM Irvine Scientific (US), The Baker Company Inc. (US), Kitazato Corporation (Japan), Rocket Medical plc (UK), Hamilton Thorne Ltd. (US), ZEISS Group (Germany), Fertipro NV (Belgium), Gynotec B.V. (Netherlands) and others.
In Vitro Fertilization Market 2024 covers powerful research on global industry size, share, and growth which will allow clients to view possible requirements and forecasts. Opportunities and drivers are assembled after in-depth research by the expertise of the construction robot market. The In Vitro Fertilization Market report provides an analysis of future development strategies, key players, competitive potential, and key challenges in the industry.
Global In Vitro Fertilization Market Report 2024 reveals all critical factors related to diverse boom factors inclusive of contemporary trends and traits withinside the worldwide enterprise. It affords a complete review of the top manufacturers, present-day enterprise status, boom sectors, and commercial enterprise improvement plans for the destiny scope.
The In Vitro Fertilization Market document objectives to offer nearby improvement to the market using elements inclusive of income revenue, destiny market boom rate. It gives special observation and analysis of key aspects with quite a few studies strategies consisting of frenzy and pestle evaluation, highlighting present-day market conditions. to be. Additionally, the document affords insightful records approximately the destiny techniques and opportunities of worldwide players.
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Global In Vitro Fertilization Market, By Region
1) North America- (United States, Canada, Mexico, Cuba, Guatemala, Panama, Barbados, and many others)
2) Europe- (Germany, France, UK, Italy, Russia, Spain, Netherlands, Switzerland, Belgium, and many others)
3) the Asia Pacific- (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Vietnam, and many others)
4) the Middle East & Africa- (Turkey, Saudi Arabia, United Arab Emirates, South Africa, Israel, Egypt, Nigeria, and many others)
5) Latin America- (Brazil, Argentina, Colombia, Chile, Peru, and many others)
This In Vitro Fertilization Market Research/analysis Report Contains Answers to your following Questions
What trends, challenges, and barriers will impact the development and sizing of the global market?
What is the In Vitro Fertilization Market growth accelerator during the forecast period?
SWOT Analysis of key players along with its profile and Porter’s five forces analysis to supplement the same.
How much is the In Vitro Fertilization Market industry worth in 2019? and estimated size by 2024?
How large is the In Vitro Fertilization Market? How long will it keep growing and at what rate?
Which section or location will force the market and why?
What is the important thing current tendencies witnessed in the In Vitro Fertilization Market?
Who are the top players in the market?
What and How many patents are filed by the leading players?
What is our Offering for a bright industry future?
The Research Objectives of this Report are to:-
Company, key regions/countries, merchandise and applications, historical records from 2018 to 2022, and global In Vitro Fertilization Market till 2032. Study and analyze the market length (cost and volume).
To recognize the structure of In Vitro Fertilization Market via way of means of figuring out its numerous subsegments.
In Vitro Fertilization Market on the subject of the primary regions (with every essential country). Predict the cost and length of submarkets.
To examine the In Vitro Fertilization Markets with appreciation to person boom trends, destiny prospects, and their contribution to the general market.
To examine aggressive trends consisting of expansions, contracts, new product launches, and acquisitions withinside the market.
Strategic profiling of key gamers and complete evaluation of growth strategies.
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Reasons to Buy Market Report
The market record presents a qualitative and quantitative analysis of the market based on segmentation that includes each economic and non-economic element.
In Vitro Fertilization Market through the region. The market evaluation highlights the consumption of products/services in areas and well-known shows elements influencing the market in every region.
In Vitro Fertilization Market. It consists of an in-depth analysis of the market from specific views via Market Porter's Five Forces Analysis and provides insights into the market via the Value Chain.
The In Vitro Fertilization Market file provides an outline of market fee (USD) information for every segment and sub-segment.
It consists of an in-depth analysis of the market from distinct views via a 5 forces analysis of the In Vitro Fertilization Market and offers insights into the market through the fee chain.
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rigvedaadsagency · 5 months ago
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daphnelikeallpeople · 2 years ago
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Who really is Canadian-Indian businessman Ram Tumuluri
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Controversial Canadian-Indian businessman Sri Ram Tumuluri, whose Indian electric buses deal has hit road blocks due to lack of international funding of US$8 billion, has a track record of running projects into the ground, according to a forensic investigation into his conduct and business practices published in several sections of the Indian press.
Media in India and America reported recently that Ram Tumuluri’s Causis Group has so far failed to raise the $8 billion needed to implement a Rs2,800-crore electric buses deal with the Mumbai authorities, putting public funds at risk. Forensic investigations have established that one of Ram’s partners in the same deal is a German national with known ties to Russian actors working for the interests of President Vladimir Putin. Results of the forensic investigations have been published in several Indian publications, some with links to the ruling Bhartiya Janata Party (BJP).
After the “American Daily Post” reported, quoting Indian authorities, that Sri Ram Tumuluri’s England & Wales registered Causis Group Ltd won in October 2021 a tender for supplying The Brihanmumbai Electric Supply and Transport (BEST) with 1,400 electric vehicles but the whole deal is under threat over several issues related to the past dealings of Mr Ram Tumuluri.
According to the Indian publications, investigators in several jurisdictions have pieced together a pattern of Tumuluri’s modus operandi and how the controversial businessman has operated over the years to raise money with big promises and then make off with the money while running the projects into the pit.
Consistent pattern:
In all his operations, Ram Tumuluri has a consistent pattern: he presents investors with deals he does not himself have the funds to invest in; portrays them as easy money opportunities; sets up an opaque offshore corporate structure; pulls in his associates and past business connections; obtains partial funding for the project; walks away from the project with any funds invested, having purposefully failed to file accounts; and moves on to an alternative project. By maintaining a low level of tangible assets (i.e. renting rather than owning property), even in litigious situations, the plaintiffs are unable to make claims against any significant resources owned in Tumuluri’s name. An analysis of public records shows Tumuluri has consistently failed to file annual returns in companies he incorporated in India, the US, Canada and Singapore thereby not accounting for where the funds have gone.
Ram Tumuluri was born in the Indian city of Hyderabad to Satynarayana Tumuluri and Bharti Tumuluri, a Brahmin middle class family with no business history. Ram Tumuluri has claimed he received an undergraduate degree from Osmania University in Culinary Arts. Osmania University said it does not offer culinary courses. The controversial businessman has claimed that he went to the London School of Economics (LSE) but the LSE administration has said it has no record of Ram Tumuluri ever enrolling in any discipline or ever graduating from the prestigious institution.
Indian failures:
In India, Ram Tumuluri established the Ayucare brand under his company Holistic Healthcare. The businessman has fostered the impression that his company had taken the country by a storm; in reality one of the main spas was a bungalow in a residential area and the business folded after a few years after making huge losses. In 2008 his vehicle Tumuluri Hospitality Inc invested INR10m (equivalent to US$230k) in the company. At the time this was a significant investment considering only a few years before, Ram Tumuluri had left Marriott Hotels in Alberta, Canada to work as senior manager of the Wickaninnish Inn in Tofino, Canada. The investment ended in a failure and today there is no signage for Ayucare or Holistic Health and a banner advertising the leasing of the property hangs outside.
United States of America:
In the United States, Ram Tumuluri married Phrasavath Douangmala and they divorced in April 2003. His history in the US spans from approximately 1998 until 2004. He resided in Chicago, Illinois. In the divorce records, Tumuluri’s date of birth in the Milwaukee County divorce court documents is recorded as September rather than May 1975. It is unclear whether this was a deliberate attempt to avoid leaving a trail. Corporate registries in the US have Tumuluri as director of a real estate development company struck off in 2014 for not filing annual returns.  Tumuluri is identified in US records with social security number 340 94 1501 issued in Illinois in 1998. Phrasavath Douangmala runs an assisted living facility named Douangmala Phrasavath Adult Family Home for individuals with disabilities, which appears to be located at her residence.
Corporate directorship checks record Tumuluri as previously the president and director of Venturex Hawaii Investment Corporation, incorporated in Hawaii in May 2003 and dissolved in December 2014 for not filing an annual report. The other individual listed, Mamoru Hamanishi, traces back to British Columbia and is linked to Tumuluri there.
Canada connection:
Tumuluri subsequently moved to Canada, where his business practices set the hallmark for a pattern of behaviour repeated throughout his career to date. All his firms were dissolved due to non-filing of company accounts. Litigation records spell out the details of claims such as misuse of company funds and failure to provide accounting information to business partners. His projects all failed and left behind a string of claims by creditors ranging from mortgage providers to smaller unpaid suppliers. Notably, throughout his period in Canada, Tumuluri owned a property on only one occasion.
Federal and state documents in Canada record Tumuluri having incorporated seven companies since 2006. Only one remains active; the remaining six were dissolved for failure to file company records. Between 2005 and 2010 he became involved in the purchase and management of two hotel projects in British Columbia; one at Nita Lake Lodge (NLL Holdings) where he teamed with Praveen Varshney, a venture fraught with allegations of financial mismanagement and misuse of company funds, and the other at Cable Cove Inn & Spa which led to legal proceedings due to defaulted mortgage payments. Both became embroiled in litigation proceedings. In registering the seven Canadian companies Tumuluri utilised several physical and postal box addresses. They were all temporary as none were found to be owned by him, his wife or their associated businesses.
Cable Cove Inn, the property where Ram Tumuluri and his wife lived from 2010 to 2013 at 201 Main Street, Tofino, British Columbia is a ‘boutique style inn for an Adult/Couples’. According to court records, they defaulted on the mortgage and the British Columbian Supreme Court granted the ownership of the property to All Island Equity Mortgage Investment Corp following repossession.
According to William Walker, owner of All Island Equity Mortgage owner, the Tumuluris paid the mortgage for two years but stopped payments in 2012 and then the couple just walked away and left the property in a very poor state. However, within British Columbia, Tumuluri is named in a significant number of civil cases ranging from the Supreme Civil Court, foreclosure and small claims courts. The bulk of them relate to disputes over Nita Lake Lodge, including allegations of misuse of company funds, defaults on loans and mortgage payments, as well as smaller claims made by unpaid contractors.
Malta killing:
Ram Tumuluri has made global headlines due to his involvement in the doomed Vital Global Healthcare (VGH) project that continues to make headlines in Maltese press as well as globally for all the wrong reasons. It was Ram Tumuluri who sold the idea of the healthcare project to the Maltese government, won contracts for three major hospitals and then struggled to fulfil any of the promises he made and walked away from the project in the usual pattern of behaviour. But it’s the assassination of the Maltese journalist Daphne Caruana-Galizia, who was vocal in her accusation of corruption between the government and Tumuluri in the awarding of the project, that has made people cautious to speak on the subject. She was the first journalist to expose Ram Tumuluri’s murky business background and lack of healthcare credentials; and she made the link between the BVI network of companies and his partner Mark Pawley’s lack of funding credibility. She wrote that Tumuluri managed to get himself into pole-position with the government prior to the public tender process. Recently, Ram Tumuluri has claimed that he had to flee Malta because a senior politician threatened him with a similar fate as the assassinated journalist. However, the office of the politician has said that Ram Tumuluri’s claims are ludicrously wild and plainly false and he is lying in order to save his skin by throwing others under the bus. While working in Malta, the local media reported that Ram Tumuluri had an affair with Deborah Chappell, Maltese lawyer and former director of Technoline.
Dubai base:
Tumuluri, who lives in UK’s Sunningdale area in Ascot in a six-bedroom detached house purchased by his wife Sonya Sarah Tumuluri on 25 February 2021 for £2,550,000, claims to have two UAE entities, Mount Everest Global Trading and VGH Dubai. Records show he did attempt to raise funding in the UAE for the Malta PPP project but this was not successful. He was facilitated in this through the office and contacts of Mohammed Hanif Shaikh, Chairman of Emirates Holding Group. Both companies have shut their operations after failures.
Montenegro dealings:
Tumuluri secured a Public Private Partnership (PPP) contract in Montenegro, allegedly as a result of corruption coming from the inner circles of the Presidency, according to media reports in the country. An MoU was signed between VGH and the Ministry of Health in Montenegro in 2016. The concession was cancelled subsequently by the incumbent Health Minister.
Investigation shows that several business associates of Ram Tumuluri have been accused of questionable business dealings or been linked to fraud, misappropriation or stock exchange manipulation. None of them have a proven track record of significant commercial success, despite their claims to the contrary. The modus operandi of Mark Pawley and others matches that of Tumuluri: they all promise their investors lucrative investment opportunities which after the first round of investments is then declared as unsuccessful. The investors are left bearing the loss. Tumuluri et al move on to set up new projects.
The Russia connection:
Investigation in an American publication has revealed that Sri Ram Tumuluri’s partner in the Indian Rs2,800-crore electric buses deal, Thomas-Christan Seitz is known for close ties with the Kremlin and has worked for the interests of Russia’s feared spy agency KGB – now called the Foreign Intelligence Service (SVR).
Two years ago, Ram Tumuluri’s England & Wales registered Causis Group Ltd won a tender for supplying The Brihanmumbai Electric Supply and Transport (BEST) with 1,400 electric vehicles. Causis, registered in the UK but without any operations, is wholly owned by Tumuluri. Its operating entity is India-registered Causis E-Mobility Pvt Ltd.
India electric buses deal:
According to a forensic study by the publication, Causis acquired a 100% stake of German-registered Eurabus GmbH in September 2021. Eurabus was founded and formerly owned by Thomas-Christan Seitz. Eurabus has previously claimed to be in the process of opening EV factories in Azerbaijan, Kazakhstan, Georgia and possibly Tanzania.
Causis Group Ltd was incorporated in England and Wales on 11 June 2021 under company number 13452464 and the company is 100% owned by Jersey-incorporated New Horizons Investments Limited, which in turn is 100% owned by Tumuluri, papers show. Causis Group’s statutory Directors are Tumuluri, Peter Knez, Charles Paul Rowan, Thomas-Christian Seitz and Gary Anthony Dugan.
Examination of original German corporate filings reveals that Eurabus GmbH was registered on 02 July 2015 under company number HRB 168446B. Eurabus GmbH’s initial share capital was €25,000 and was 100% owned by Euracom Group GmbH, a company managed and controlled by Seitz. On 31 October 2019, Eurabus GmbH increased its share capital to €1.105 million. On 30 September 2021 Causis Group Ltd acquired 100% stake in Eurabus GmbH from Euracom Group GmbH.
Seitz grew up in the former German Democratic Republic (GDR) and attended the infamous Moscow State Institute of International Relations (MGIMO), where 50% of the graduates are alleged to have gone into the Soviet diplomatic service and 50% into the KGB, said the publication.
A journalist who knew of Seitz and wrote a story about him and his activities in 2008 noted that Seitz graduated from the MGIMO in 1992. The journalist’s article, entitled “The Russians are Coming” in the daily newspaper Die Welt, described Seitz as associated with two Russian “security foundations” closely linked with Vladimir Putin.
In the article, Seitz is described as “Vice President” of the “Security Academy Waldmünchen” in Bavaria that was a branch of the “Academy for Legal Order, Security, and Defense Matters” in Moscow. The Academy was founded by Vladimir Putin himself. Putin is described as “Member No. 1”.
The article also states that Seitz and the academy were closely connected to an organisation called the “International Counterterrorism Association,” also in Moscow. That organisation in Germany, the article notes, can be connected to Karlshorst, Berlin where the KGB had its headquarters.
Funding failures:
Ram Tumuluri’s failing that matches VGH Malta failure scandal is his latest The Brihanmumbai Electric Supply and Transport (BEST) project he signed with the Indian govt in October 2021. The project was set to start within two months but to date there is no sign of the project making any headway and Indian authorities have briefed media that Ram Tumuluri has failed to raise funds of around $8 billion to implement the Rs2,800-crore electric buses deal with the Mumbai authorities.
Indian govt sources told a US publication The American Daily website: “Causis is using the Memorandum of Understanding (MoU) with Maharashtra Government as a security but banks are demanding sovereign guarantee from the state government, which has not been approved by the government. Causis is struggling to arrange debt and their efforts are ongoing but it is evident Causis has so far failed to find any credible lenders. On paper, there are lots of promises but there is zero delivery so far.”
The Mumbai authority fears that Ram Tumuluri may defraud his investors and business partners as Causis does not have manufacturing or technical capabilities.
According to an article by Indian news outlet The Indian Express, Causis won a tender for supplying The Brihanmumbai Electric Supply and Transport (BEST) with 1,400 electric buses. In October 2021, the Maharashtra state government, in the presence of environment minister Aaditya Thackeray and industry minister Subhash Desai, signed the contract for Rs 2,800 crore ($370,000).
Maltese news outlet The Shift News reported Tumuluri’s Electrical Vehicles venture in an article titled “Ram Tumuluri suspected of replicating ‘fraudulent’ Malta VGH model in Mumbai” – a reference to a big health scare scandal in Malta.
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digimarketresearch · 7 months ago
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Waste Paper Management Market Size, Share, Trends, Growth and Competitive Outlook
"Global Waste Paper Management Market report puts light on analysis of prime manufacturers, trends, opportunities, marketing strategies analysis, market effect factor analysis and consumer needs by major regions, types, and applications globally. The study offers a comprehensive analysis of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments. The data and information covered in the Waste Paper Management report are obtained from reliable sources such as websites, annual reports of the companies, journals, and others and were checked and validated by the market experts.
The crucial business strategies recognized by the important individuals from the Waste Paper Management market have likewise been coordinated in this market analysis report. The competitive landscape part of this business report provides a clear insight into the market share analysis of key industry players. Key shortcomings and strengths, the risks experienced by the main contenders in the worldwide Waste Paper Management market, have been a fraction of this research study. The study encompasses a market attractiveness analysis, wherein each segment is benchmarked based on its market size, growth rate, and general attractiveness.
Access Full 350 Pages PDF Report @
Global waste paper management market was valued at USD 42.93 billion in 2021 and is expected to reach USD 55.69 billion by 2029, registering a CAGR of 3.20% during the forecast period of 2022-2029. “Old corrugated containers " accounts for the largest paper grade segment in the waste paper management market.
Highlights of TOC:
Chapter 1: Market overview
Chapter 2: Global Waste Paper Management Market
Chapter 3: Regional analysis of the Global Waste Paper Management Market industry
Chapter 4: Waste Paper Management Market segmentation based on types and applications
Chapter 5: Revenue analysis based on types and applications
Chapter 6: Market share
Chapter 7: Competitive Landscape
Chapter 8: Drivers, Restraints, Challenges, and Opportunities
Chapter 9: Gross Margin and Price Analysis
Core Objective of Waste Paper Management Market:
Every firm in the Waste Paper Management Market has objectives but this market research report focus on the crucial objectives, so you can analysis about competition, future market, new products, and informative data that can raise your sales volume exponentially.
Size of the Waste Paper Management Market and growth rate factors.
Important changes in the future Waste Paper Management Market.
Top worldwide competitors of the Market.
Scope and product outlook of Waste Paper Management Market.
Developing regions with potential growth in the future.
Tough Challenges and risk faced in Market.
Global Waste Paper Management top manufacturers profile and sales statistics.
Regional Analysis for Waste Paper Management Market:
APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
North America (U.S., Canada, and Mexico)
South America (Brazil, Chile, Argentina, Rest of South America)
MEA (Saudi Arabia, UAE, South Africa)
Some of the major players operating in the waste paper management market are Reliable Paper Recycling (U.S), Veolia (France), Hills Group (U.K), International Paper (U.S.), Mondi (U.K), Sappi (South Africa), WM Intellectual Property Holdings, L.L.C. (U.S.), Macpresse Europa (Italy), Cascades Recovery (Canada), Republic Services, Inc. (U.S), UPM (Finland), DS Smith (U.K), Georgia-Pacific (U.S), ECO WASTE SOLUTIONS (Canada), and WestRock Company (U.S.) among others.
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