Pincodes of India
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Tata Motors has forayed into the compact ambulance segment by unveiling Magic Express, a patient-transport ambulance in the economy category. “The compact dimensions of the vehicle enables easy manoeuvrability on Indian roads, resulting in speedy movement of patients requiring emergency care, thereby saving lives,” the company said, adding it was fully compliant with AIS 125 norms.
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MUMBAI: Digital brokerage firm Upstox, which has Ratan Tata among its primary investors, is now an official partner of the Indian Premier League (IPL). The three-year deal signed this month takes the T20 tournament’s sponsorship pool a few notches high compared to the 2020 edition.
With mobile phone manufacturer Vivo coming back on board, the IPL will rake in a hefty Rs 440 once again this year as compared to the Rs 222 crore they received through title sponsorship from Dream11 in what ended up being an “11th hour bargain”.
Now, with Upstox on board, the BCCI-IPL will earn approximately Rs 45 crore more this season with the three-year deal effectively totalling up to around Rs 145 crore.
TOI had reported on Upstox outbidding online-based investment platform Groww last month. The BCCI, by way of Vivo’s return and Upstox on board, will earn in excess of Rs 260 crore more this year compared to the previous one.
It is for the first time in 14 years that a brand in the stock and mutual fund sector has partnered with the T20 league. This year’s IPL is scheduled to begin on April 9 and conclude on May 30.
“We are thrilled to partner with the IPL. The tournament has paved a bold new direction to Indian cricket in the last decade. This is what sparks a natural connection between us,” Upstox CEO Ravi Kumar said.
Fantasy sports platform Dream11, e-education platform Unacademy and e-payment platform Cred are already on board the IPL as the other official partners along with Tata Motors, for now.
Upstox, for the record, is also learnt to have grabbed a three-year sponsorship deal with the International Cricket Council (ICC) and an announcement of the same is expected to be made soon.
The tournament, much of which is expected to be played without spectators at the stadium due to the rising Covid numbers and state-wise restrictions, will once again be an all-television and digital affair — thus throwing the ring open for e-business platforms to find advertising opportunities.
“If you look at the 2020 edition, e-education and fantasy sports platforms had hogged the advertising space. Expect more players in the e-business industry to make an attempt to grab this space this year,” say those tracking developments.
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Schaefer said the Volkswagen group is eyeing a 5% share of the Indian market by 2025, mainly led by Skoda and VW brands for volumes while luxury ones such as Audi, Porsche and Lamborghini also chipping in (failed in previous target of 20% by 2018).
The Indian market, while being a top global opportunity, remains challenging, and Schaefer said that the company will get in cars that are competitive, “including on prices”.
“We compete with brand such as Hyundai at a global level, and it will also be a key competitor in India. We will surely convince people into our cars.”
Just as Skoda develops and sells highly-localised models, VW will also look at a similar new model blitzkrieg and these would be developed around local pricing and needs.
Schaefer said Skoda is also looking into some of the highly-lucrative segments such as compact SUV. “It’s a tough segment… and you need lots of work to get it right. We are not quite sure whether it will be a hatch, or a crossover or an SUV. We are not quite sure.”
Speaking about the special tax (GST) dispensation that cars under-4-meters get in India, he said that “while we need to live with this regulation for now”, it doesn’t make sense to continue with the incentive. “It might have served its purpose. Maybe it’s better to focus on emissions, and consumption. There are other ways of supporting development. Why 4 meters?”
Also, he said that while localisation is important, the Indian government should also make it easier for companies to import some critical parts from global manufacturing locations.
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