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COVID impact: PropEquity data shows 58% fall in housing sales in April-June over preceding quarter

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Data analytic firm PropEquity on Saturday reported that housing sales across seven major cities fell 58 percent during April-June over the previous quarter due to the second wave of the COVID-19 pandemic.

Data analytic firm PropEquity on Saturday reported that housing sales across seven major cities fell 58 percent during April-June over the previous quarter due to the second wave of the COVID-19 pandemic. According to data, sales of residential properties declined to 45,208 units in April-June 2021 from 1,08,420 units in the preceding quarter. ”Sales or absorption fell by a massive 58 percent as India witnessed the major brunt of the COVID second wave in April and May,” PropEquity said in a statement.

Stringent lockdown across major cities in India impacted housing sales as home registrations were also suspended and home loan disbursals were slow, it added. Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai Metropolitan Region (MMR), Delhi-NCR and Pune witnessed a fall in housing sales in Q2 of 2021 versus Q1 of 2021 by 55 percent, 59 percent, 49 percent, 57 percent, 63 percent, 43 percent and 62 percent, respectively.

”Real estate sector which was slowly recovering by March was hit with the second wave. Going ahead, we may witness resizing of units, marketing led discounts, amenities and special payment schemes to be offered by developers to boost demand, especially during the beginning of the festive season,” said Samir Jasuja, founder and managing director at PropEquity. On a quarter on quarter basis, Bengaluru saw a downfall of 55 per cent in home sales in Q2 2021 at 5,487 units.

Housing sales in Chennai fell 59 percent in Q2 2021 to 2,084 units. Home sales in Hyderabad witnessed a decrease of 49 percent in Q2 2021 at 6,463 units.

Kolkata saw a decrease of 57 percent in home sales in Q2 2021 at 1,603 units. In MMR, sales dipped 63 percent in the second quarter at 15,562 units.

Housing demand in NCR declined 43 percent to 4,465 units, while Pune witnessed a downfall of 62 percent in sales to 9,544 units. However, on a year-on-year basis, housing sales were up by 51 percent across the top 7 cities in India in the second quarter of 2021 to 45,208 units from 29,942 units in Q2 of 2020.

Bengaluru, Chennai, Hyderabad, Kolkata, MMR, NCR and Pune witnessed a jump in housing sales by 33 percent, 65 percent, 138 percent, 14 percent, 38 percent, 98 percent and 39 percent, respectively. PE Analytics owns and operates PropEquity, which is an online real estate data and analytics platform covering over 1,18,010 projects of 34,217 developers across over 44 cities in India.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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India, China hold 12th round of military talks; focus on disengagement in Gogra, Hot Springs

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The 12th round of military talks between India and China is taking place over two weeks after External Affairs Minister S Jaishankar firmly conveyed to his Chinese counterpart Wang Yi that the prolongation of the existing situation in eastern Ladakh was visibly impacting the bilateral ties in a “negative manner”.

India and China are holding another round of high-level military talks on Saturday with an aim to move forward on the disengagement process in the remaining friction points in eastern Ladakh to end an over 14-month standoff, sources in the security establishment said.

The 12th round of Corps Commander-level talks are taking place at the Moldo border point on the Chinese side of the Line of Actual Control (LAC) in eastern Ladakh, they said.

The talks started at 10:30 AM as scheduled, said a source. India is hopeful of a positive outcome on the disengagement process in Hot Springs and Gogra, the sources said about the talks.

The latest round of talks is taking place after a gap of more than three and a half months. The 11th round of military dialogue had taken place on April 9 at the Chushul border point on the Indian side of the LAC and it lasted for around 13 hours.

The 12th round of military talks is taking place over two weeks after External Affairs Minister S Jaishankar firmly conveyed to his Chinese counterpart Wang Yi that the prolongation of the existing situation in eastern Ladakh was visibly impacting the bilateral ties in a “negative manner”.

The two foreign ministers had held a one-hour bilateral meeting on the sidelines of a conclave of the Shanghai Cooperation Organisation (SCO) in Tajik capital city Dushanbe on July 14.

In the meeting, Jaishankar told Wang that any unilateral change in the status quo along the LAC was “not acceptable” to India and that the overall ties can only develop after full restoration of peace and tranquillity in eastern Ladakh.

In the last round of military talks, both sides discussed ways to take forward the disengagement process in Hot Springs, Gogra and Depsang with a larger aim to bring down tensions in the region. However, there was no forward movement in the disengagement process.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Overdrive: Volkswagen India’s Ashish Gupta on much-awaited SUV Taigun

Overdrive is just days away from bringing in its first drive impression of Volkswagen India’s most awaited SUV, the Taigun. Overdrive’s Bertrand D’Souza caught up with Ashish Gupta, the brand director at Volkswagen India.

He shared more about the brand’s positioning of the SUV in the market, value-added services, and more on the production capacity.

Watch the accompanying video for the full show.

 5 Minutes Read

Centre reviews COVID-19 situation in 10 states showing upsurge in cases

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The public health measures taken for surveillance, containment and management of COVID19 by the health authorities in these states were also reviewed.

Union Health Secretary Shri Rajesh Bhushan chaired a high-level meeting on Saturday to review the COVID-19 situation in 10 states of Kerala, Maharashtra, Karnataka, Tamil Nadu, Odisha, Assam, Mizoram, Meghalaya, Andhra Pradesh and Manipur. The public health measures taken for surveillance, containment and management of COVID19 by the health authorities in these states were also reviewed.

These states are either reporting a rise in new daily COVID cases or a rise in positivity.

Union Secretary for Health and Family Welfare underlined the critical COVID control and management strategies as below:

1. All districts reporting positivity rate more than 10 percent in the last few weeks need to consider strict restrictions to prevent/curtail movement of people, formation of crowds and intermingling of people to prevent spread of infection. It was forcefully underlined that any laxity at this stage will result in deterioration of the situation in these districts.

2. More than 80 percent active cases in these states are reported to be in home isolation. There is need to effectively and strictly monitor these cases so that they are not intermingling and circulating in their neighborhoods, community, village, mohalla, ward etc., and spreading the infection.

3. The people in home isolation should be effectively monitored in such a manner to ensure that those who require hospitalization are seamlessly transferred for timely clinical treatment. Detailed SOPs covering various facets of effective clinical management of COVID19 patients in hospitals have been earlier shared with the States for prompt shifting and effective hospital management.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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India formulating standards for services sector for high quality: Piyush Goyal

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

India is formulating standards for the services sector so that the country can have high quality of services to offer to the rest of the world, Commerce and Industry Minister Piyush Goyal said on Saturday. He said that India is rapidly progressing across sectors such as healthcare, home delivery, telecom and technology. “In India, we …

India is formulating standards for the services sector so that the country can have high quality of services to offer to the rest of the world, Commerce and Industry Minister Piyush Goyal said on Saturday.

He said that India is rapidly progressing across sectors such as healthcare, home delivery, telecom and technology.

“In India, we are formulating standards for the services ecosystem so that we can have a very high quality of services which we offer to the rest of the world. India is also rapidly progressing to become one of the world’s largest digital markets, be it fintech, edutech and telemedicines,” the minister said at IACC-NIC’s second Indo-US Services Summit.

Talking about legal services, he said Indian lawyers are top class and have huge opportunities opening up for them across the globe.

“We can make sure that we can provide adequate safeguards for the lawyers in the lower courts and larger ecosystem in the legal profession but we will certainly engage with you (experts) and other luminaries and I think we have already set up a committee with the law ministry to examine this issue in greater details,” he added.

Further, Goyal said that the US is the hub of innovation, technology, research and quality education, while India has skilled and intelligent manpower at competitive prices. Total service exports from India to the world was USD 17 billion in 2001-02 and now it has jumped to USD 205 billion in 2020-21.

“As I see them, our services sector will be far more resilient, reliable, robust and it will be at the forefront of economic recovery in a post-Covid world,” he said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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ED probes crypto exchange Binance’s role in money laundering case: Report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Binance executives were summoned by the Enforcement Directorate as part of its ongoing investigation into betting apps and WazirX, according to a report.

Binance, the world’s largest cryptocurrency exchange headquartered in Cayman Islands, is being investigated by Indian authorities in connection with a money laundering case, according to a report on July 30.

Binance executives were summoned by the Enforcement Directorate as part of its ongoing investigation into betting apps and WazirX, reported Bloomberg.

Betting apps run by Chinese operators that collected over $134 million over the past 10 months are being probed for allegedly laundering the money through WazirX, which was bought by Binance in 2019. WazirX is already under investigation by the ED over the flouting of rules related to foreign exchange.

Binance has been facing regulatory pressure from across the globe. The crypto company has been registered in the Cayman Islands, a known tax haven, without any corporate headquarters.

ED has found that Binance wasn’t collecting necessary KYC paperwork from clients for some transactions and it didn’t collect information detailed by the Financial Action Task Force (FATF) for virtual currencies, sources told Bloomberg.

The company has recently announced that it would be ending its futures and derivatives products across Europe due to regulatory pressure.

Explained: Binance, the giant crypto exchange under regulatory scrutiny

“With immediate effect, users from these countries will not be able to open new futures or derivatives products accounts. With effect from a later date to be announced in a further notice, users from these countries will have 90 days to close their open positions,” the company stated.

At the same time, Malaysia became the latest country to fully halt Binance operations within its borders. Meanwhile, Japan, Canada, Italy, the UK, and the US have either clamped down on the crypto exchange or halted its activities.

Binance CEO, Changpeng ‘CG’ Zhao, had recently said that the company was working towards becoming a fully regulated financial institution. He had said that he would be willing to step down in order to allow someone else with more regulatory experience to lead the company.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Air India Express flight makes emergency landing in Thiruvananthapuram due to windshield crack

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

After taking off from Thiruvananthapuram at around 7.52 am, less than an hour into the flight, the pilots noticed the crack in the windshield of the airplane prompting them to turn back to Thiruvananthapuram for an emergency landing at around 8.50 am, the official said.

An Air India Express flight from Thiruvananthapuram to Saudi Arabia had to make an emergency landing at Thiruvananthapuram international airport on Saturday after a crack in the windshield of the aircraft was detected, an airport official said.

After taking off from Thiruvananthapuram at around 7.52 am, less than an hour into the flight, the pilots noticed the crack in the windshield of the airplane prompting them to turn back to Thiruvananthapuram for an emergency landing at around 8.50 am, the official said.

However, the plane had no passengers, due to the COVID- 19 restrictions on international travel to certain destinations, and was only carrying cargo and a crew of eight. All the crew members, including the pilots, are safe, C V Ravindran, the Director of Thiruvananthapuram Airport, told PTI.

He also said that had the crack been detected in the pre-flight check, the plane would not have taken off and therefore, it must have happened during take-off or while cruising. The flight was going to return from Damman in Saudi Arabia with Indian passengers as part of the ’Vande Bharat Mission”, he added.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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 5 Minutes Read

Sustainable fashion – the much-needed textile transition

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

It is estimated that 73 percent of all our clothes end up in landfills, clearly an alarming statistic that cannot be ignored anymore.

A typical household puts a considerable amount of thought into deciding the quantity and spread of grocery purchases to be made for the month. While this is considered normal and prudent when it comes to the purchase of perishables, surprisingly, an increasing percentage of millennial consumers do not seem to apply the same levels of deliberation when purchasing clothing.

Clothes– which as a product segment are durable– have increasingly come to be treated much like perishables. They are worn for extremely short periods of time and discarded recklessly, contributing to the mounting heap of landfills every year. It is estimated that 73 percent of all our clothes end up in landfills, clearly an alarming statistic that cannot be ignored anymore.

However, irresponsible purchase behaviour is only part of the problem. To be fair, consumers have been enticed into such behavior partly because the average price of clothing (as a share of disposable income) in general has dropped significantly in the last two decades.

By adopting sourcing and manufacturing methods that significantly reduce production costs (example: off-shoring manufacturing activities to developing nations where wages are low, using cheaper chemical inputs for dyeing fabric), clothing manufacturers have been able to achieve significant economies of scale and have passed on the cost benefits to the final consumer.

Unfortunately, these methods usually do not price in the negative environmental cost associated with large-scale centralised production and global distribution. Nor do they price in the social cost of underpaid contributors to the supply chain.

In effect, suppliers and consumers have together propagated unsustainable industry practices – both from the production and consumption side. Considering how important clothing is as a commodity for humankind, it comes as no surprise today that this industry ranks the second most polluting industry on earth after oil and gas.

It was also evidenced that global CO2 emissions attributed to the apparel and footwear industry exceeded the airline and maritime industries combined. In the wake of such telling numbers, the concept of sustainable fashion has found significance.

This term is an all-encompassing concept that hopes to bring awareness both to consumers and producers about the unsustainable practices of the textile industry as a whole. Additionally, there is an effort to change existing practices and infuse an element of environmental and social consciousness going forward.
As a market response to the consumer consciousness primarily seen to be growing in the West, clothing production hubs like India are seeing positive innovations introduced across the fashion value chain. These innovations incorporate both socially and environmentally responsible elements.

The Fashion Value Chain and promising innovations

The traditional Fashion Value Chain typically starts from the procurement of raw materials and reaches an abrupt stop once the fully finished clothes reach the store (retailing). However, as far as the sustainable fashion value chain is concerned, this is not the end of the line. The chain continues post the retail stage with activities such as recycling or upcycling of used clothes.

Not to mention, the changes in production and processing incorporated within the existing value chain that reduce negative environmental and social impact are also regarded as part of the sustainable fashion initiative.

While a vast majority of these innovations are in the idea/incubation stage, there is incredible promise in what can be a textile production and retailing revolution. Here are some areas of innovation we came across during our conversations with innovators or through secondary research:

Alternate materials: The production of certain textile fabrics is known to take a relatively heavy toll on the environment either directly or indirectly. For instance, cotton production is extremely water-intensive, requiring approximately 22,500 liters of water to produce 1 kg.

Innovators are experimenting with alternate natural fibers that are more eco-friendly, naturally available in abundance (in a particular region), and offer very similar if not identical comfort and cloth ‘feel’ to a consumer. On similar lines, innovators are also experimenting by replacing chemical coloring dyes with natural dyes and coloring agents.

Transparency and accountability: Conscious consumers are increasingly interested to know the origin, quality, ethics, safety, environmental and social impact of the products they consume. In line with this growing requirement, textile producers are making additional efforts to adopt better practices and disclose the same.

Innovators, ideally with backgrounds in technology and blockchain, have stepped in as ‘product tracing’ service providers to larger textile producers and garment manufacturers. They use technologies such as RFID (radio frequency identification) and blockchain to monitor the origination of raw material and its movement along the supply chain, while capturing information on the quality and the people/companies who work on the product.

Community-based production and localised supply chains: Instead of the conventional large-scale production approach that is typically considered the norm in clothing manufacturing, some innovators have consciously decided to run ‘micro’ production units that can serve the local community in multiple ways.

These solutions involve providing livelihood to the locals (example: Women SHG members being employed to source wildly growing raw material) through involvement in the production process and re-adopting traditional local production techniques (example: handloom instead of power-loom).

Cleaner/precision production: In the garment manufacturing industry, both pre-consumer and post-consumer waste generation is a major concern and challenge. During the process of fabric cutting at the garment factory, it is estimated that nearly 10-25 percent of fabric is wasted.

Innovators have been involved in adopting and developing higher precision technology that significantly reduces fabric wastage. One such technology development is laser cutting – the use of high-precision lasers instead of conventional blades for cutting fabrics.

Upcycling/Recycling: A section of innovators are focusing on developing technologies or methods to upcycle/recycle the waste generated during different stages of the textile production process. The challenge here arises from the fact that not all waste is directly reusable in its raw form. Finding ways to efficiently and affordably segregate fabric and cloth waste depending on its quality, market price and technical use has attracted several passionate innovators.

Second-hand retail and rental solutions: A rising consciousness about the need to change the ‘single use’ approach to clothing in general, and in particular festive wear (example – wedding dresses) has given rise to innovators who provide rental and second-hand retail solutions.

Online aggregators who act as intermediaries between people looking to sell and buy used clothes and those who rent out wedding wear are gaining a lot of traction.

While such changes in existing industry practices are definitely steps in the right direction, it is equally important for consumers to consciously change their consumption habits. Conscious consumers and empathetic producers together can make a real and sustainable difference in the world.

Author Avishek Gupta is Investment Director, Nishanth Nandakumar is Associate, Impact and Srinithi Kumar is Senior Associate, Digital Excellence at Caspian Debt.

Views expressed are personal.

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Kamalpreet Kaur profile: Here’s a glance into the life of India’s latest discus throw sensation

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Kamalpreet Kaur, in her Olympic debut, stormed into the Women’s Discus Throw final with a spectacular throw. The finals are slated for August 2.

A day after boxer Lovlina Borgohain assured a bronze and shuttler PV Sindhu sailed through her women’s singles quarterfinal at the Tokyo Olympics, another Indian athlete has made her way to the final. Kamalpreet Kaur, in her Olympic debut, stormed into the Women’s Discus Throw final with a spectacular throw. The finals are slated for August 2.

The 25-year-old discus thrower automatically qualified for the finals when she sent the discus to a distance of 64m in the qualification group B. Kaur achieved this feat in her third and final attempt. She had thrown the discus to a distance of 60.29m and 63.97m in her first and second attempt respectively. The other athlete to make it to the finals alongside Singh is USA’s Valarie Allman with a distance of 66.42m.

With a distance of 64m, Kaur finished ahead of two heavyweights in discus throw. Croatian athlete and defending gold medallist Sandra Perkovic came third with 63.75 m, while Cuba’s Yaime Perez, the reigning world champion finished seventh with 63.18m.

Another Indian athlete and Kaur’s idol Seema Punia failed to reserve a spot for herself in the finals. The four-time Olympian and veteran discus thrower finished 6th in Group A with 60.57m.

Kaur hails from Patiala in Punjab and has represented India for the first time. Kaur has managed to cross the 65m mark in discus throw twice this year, thus raising India’s hope for a medal in Tokyo.

Kaur’s tryst with the game began in school. Her physical education teacher had spotted her potential and persuaded her to participate in a state-level competition when she was in Class 10. She finished fourth in that game and couldn’t score a medal. But that single game was enough to ignite a spark in her. Her intense hard work and determination has brought her to the biggest stage of sports in the world.

Her father Kuldeep, a farmer in Punjab’s Sri Muktsar Sahib district, had to sell his farms to fund his daughter’s training.  While speaking to Indian Express, he said when his daughter said she wanted to pursue the game, he first checked if the Sports Authority of India would let her in. She was sent to a private training facility that charged Rs 1 lakh for which Kuldeep had to sell his land.

Kuldeep added that while other kids wore branded clothes and shoes specifically designed for the sport, he couldn’t afford them for his daughter and she trained in normal canvas shoes.

In March, she became the first Indian discus thrower to breach the 65 with her phenomenal performance in the Federation Cup. She achieved this feat with her throw of 65.06m which shattered the Indian record and carved a new now one in her name.

She raised the stakes and gave an exceedingly stellar performance in June where she broke her own record. With a throw of 66.59m in the Indian Grand Prix-4, Kaur took her own game to a whole new level. Now all of India’s hopes are pinned on Kaur as she readies her self-for the final to be held the day after tomorrow.

As Kaur prepares to give her best shot at the finals of women’s discus throw, Seema Punia got knocked out from her last Olympic appearance. Punia fouled her first throw and threw the discus to a distance of 60.57m and 58.93 m respectively in her subsequent attempts. They couldn’t help her qualify.

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sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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