Indian warehouse stock at over 380.......

 Indian warehouse stock at over 380 million sq. ft by 2024: JLL

 

• The total stock of Grade A & B warehousing space in the top 8 cities increased at CAGR 16% from 2018 to YTD 2021 (till Q3, 2021)’.
• Gross Absorption[2] in YTD 2021 (till Q3) stands at a strong 26.6 million sq. ft.
• Consistently decreasing India Grade A vacancy level (YTD 2021 till Q3) at 10.5%

 

Mumbai, 29 November 2021: With COVID-19 came the paradigm shift in consumer behavior from offline to online shopping, leading to an increased activity in sectors like e-commerce and 3PL/logistics. This has paved way for an emerging focus on new warehousing and logistics requirements especially in urban settings. The Indian warehouse stock is expected to reach over 380 million sq. ft by 2024, according to JLL.

 

Recovering well

 

About 27 sq. ft. of warehousing stock was added in first nine months (Jan-Sept) of 2021, bringing total stock to 265 million sq. ft. in 2021. The total stock of Grade A & B warehousing space in the top 8 cities increased at CAGR 16% from 2018 to YTD 2021 (till Q3, 2021).

 

New supply driven by growing demand for grade A spaces

“Growth in supply of Grade A spaces over the years is due to high demand for spaces with high specifications, citing increased inclination for high-grade structures and introduction of new players in the market. The Indian market has now firmly established itself for a more predominant position in Grade A space as opposed to Grade B spaces,” said Yogesh Shevade, Head - Logistics & Industrial, India, JLL.

 

 

Strong revival in warehouse net absorption[3]

 

Net absorption was impacted in 2020 but started recovering in 2021 especially for Grade A spaces, from 56% in 2020 to 73% in 2021. This shift is due to the high demand for quality spaces complying with COVID-19 norms. Moreover, as per the findings of JLL Logistics & Industrial, warehouse Gross Absorption[4] in YTD 2021 (till Q3) stands at 26.6 million sq. ft. which includes net absorption of 19.7 million sq. ft as well as instances of churning and renewals.

 

 

The research suggests that of the total absorptions of YTD 2021 (till Q3), more than half the share is taken up by 3PL/Logistics and e-commerce (55%), due to shift of consumer behavior towards online shopping (including online grocery shopping during COVID-19.

 

The sector continues to attract investments from institutional players

 

There has been a continuous flow of investments in the sector from institutional funds and private equity investors despite the economic headwinds due to the COVID-19 pandemic. Ongoing structural changes to asset allocations and operations of logistics real estate and supply chain networks have converged to accelerate investment into the sector. Strong underlying market fundamentals, with emerging trends underpins a strong outlook for the sector.

 

 

[1] Top 8 Cities include Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, NCR, Pune

2 Gross Absorption is all transactions that happened in the market including renewals and churning

3 Net Absorption is the warehouse space occupied excluding renewals and churning

4 Gross Absorption is all transactions that happened in the market including renewals and churning

Planet, People and Communities

Planet, People and Communities

Releases 2019 Sustainable Impact Report; Sustainability efforts helped drive more than US$1.6 billion in new sales in 2019 —an estimated 69 percent increase year-over- year

News highlights:

• Commits to eliminate 75 percent of single-use plastic packaging by 2025 compared to 2018.
• Advances diversity and inclusion agenda: 40 percent of global new hires were women; contributes US$698 million in overall economic impact through its supplier diversity program.
• Publishes inaugural Human Rights Progress Report to drive transparency and long-term community impact.
• Drives Digital Literacy, education and entrepreneurship training for underserved communities in India through World on Wheels (WoW) initiative.
• Expands HP Sustainable Forests Collaborative with addition of the Arbor Day Foundation, Chenming Paper, Domtar and New Leaf Paper.
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HP Inc. (NYSE: HPQ) today released its 2019 Sustainable Impact Report, including a goal to eliminate 75 percent of single-use plastic packaging by 2025. The new goal will contribute to a low-carbon, circular economy that can ultimately benefit the health of our people and communities. COVID-19 demonstrates that people, communities and our planet are intertwined – the risks to the health and wellbeing of one impacts the health and wellbeing of all. Furthermore, sustainability is a business imperative, helping to drive more than US$1.6 billion in new sales in 2019, a 69 percent increase from 2018. 

“We at HP continue to find new ways to lead with purpose, and positively impact the planet, people and the communities we serve,” said Vinay Awasthi, MD, HP India Market. “Our charter reflects the changing role of corporations in society. This is why we believe in the principles that define our Sustainable Impact strategy – transparency, accountability, empathy and equality. As business leaders, we must be cognizant of the world around us. Every business must now be a sustainable business and find ways of creating positive impact not only on the communities they serve but also for their stakeholders”, he further added.

Driving Digital Literacy in India

As part of its commitment to India, HP is running the World on Wheels (HP WoW ) initiative which is aimed at students, youth and small entrepreneurs in rural areas to drive digital literacy, education programming, entrepreneurship training and other community services in underserved areas. The services are being delivered via a self-contained, internet-enabled digital inclusion and learning lab - in the form of a 20-seater high tech vehicle that tours these communities. HP is running 43 WoW buses across India with its partner organsiations reaching over 3.5 million people in more than 1400 villages.

Creating A World Without Waste

Three hundred million tonnes of plastic are produced each year worldwide, half of which is for single use and 91 percent isn’t recycled at all. Packaging is also experiencing an increase in demand as a result of COVID-19. Packaging comprises a significant portion of total waste produced and can affect the health of our planet and people, which is why HP today announced a new goal to eliminate 75 percent of single-use plastic packaging by 2025. The goal focuses on hardware unit packaging and is predicated on a move to molded fiber packaging cushions. 

HP’s environmental packaging strategy aims to eliminate unnecessary plastics and materials of concerns wherever possible. In 2019, HP decided to eliminate power cord plastic ties and plastic document bags in hardware packaging. HP also has shifted to more recyclable, paper-based alternatives. To accelerate this shift, the company is transitioning from plastic foam packaging cushions to those made with 100 percent recycled, molded pulp for HP’s notebooks, desktops and displays. The transition to molded fiber Personal Systems packaging cushions eliminated 933 tonnes of hard-to-recycle expanded plastic foam last year. 

In Printing, HP reduced plastic foam by 40 percent and eliminated over 95 tonnes of the material in 2019 just by redesigning the packaging of a printer model. In 3D printing, HP recently announced the availability of a new material called polypropylene PP that helps reduce waste by enabling up to 100 percent reusability of surplus powder.

HP is also accelerating its use of recycled content plastics across its print and personal systems product portfolio. During 2019, HP used over 25,000 tonnes of postconsumer recycled content plastic in HP print and PS products, or equivalent to 9 percent plastics used. The company is working to increase this to 30 percent by 2025. HP has also sourced 1.7 million pounds – more than 60 million bottles – of ocean-bound plastic, and launched the world’s first notebook and displaymade using ocean-bound plastics plastics. With 111 Gold and 268 Silver EPEAT-registered products – more than any other company in the IT industry, HP has the world’s most sustainable PC portfolio.

Protecting and Restoring Forests

HP aims to regenerate natural systems that sustain life with a focus on protecting and restoring global forests. After eliminating deforestation in the supply chain for HP brand paper in 2016, the company is on track to do the same for its paper-based product packaging by the end of 2020. 

In 2019, HP announced its partnership with World Wildlife Fund (WWF). Together, HP and WWF aim to restore, protect and responsibly manage 200,000 acres of forest, an area equal to the size of New York City. Over five years, HP is contributing US$11 million for WWF to restore part of Brazil’s critically threatened Atlantic Forest. In China, the project is focused on increasing the area of sustainably managed forest plantations to improve their resiliency and biodiversity. In both countries with the help of WWF, HP is advancing forest science to quantify the nature benefits of forest restoration activities.

HP has also launched the HP Sustainable Forest Collaborative and those efforts have inspired the Arbor Day Foundation, Chenming Paper, Domtar and New Leaf Paper to join the collaborative and accelerate efforts on forest restoration. The cross-industry collaboration will demonstrate scientific and viable approaches to keeping forests ecosystems healthy. Together, HP and the collaborative members seek others to join the movement of growing forests and biodiversity for future generations.

Embracing Diversity and Inclusion to Fuel Innovation

HP is driving a culture of diversity and inclusion at all levels of the company and remains commited to fighting racial inequality in all forms. HP’s Board of Directors continues to be the most diverse of any U.S. technology company, comprised of 42 percent women and 58 percent minorities.

Globally, 40 percent of HP hires in 2019 were women, and the company’s Global Supplier Diversity program spent US$374 million with small and diverse suppliers including minority-and women-owned businesses, contributing US$698 million in overall economic impact.

Earlier this year, HP re-committed to the CEO Action for Diversity and Inclusion, the largest CEO-driven business commitment to advance diversity and inclusion in the workplace. The HP Foundation pledged US$500,000 to social justice organizations to confront and combat systemic racism and inequality in society.

HP is also leveraging its platforms to shine a spotlight on these issues globally. It is partnering with Girl Rising, a global a nonprofit dedicated to eradicating poverty by providing education to women and girls, to launch My Story: The 2020 Storytelling Challenge will bring to life examples of young leaders fighting for human rights, racial justice, gender equity and the advancement of education for girls.

Building Resilient Communities Everywhere

Quality education is a human right and technology can be a great equalizer. Since 2015, HP has reached more than 28 million students and adult learners, driving progress toward our goal to enable better learning outcomes for 100 million people by 2025. HP LIFE, a program of the HP Foundation, provides core business and IT skills for entrepreneurs, adult learners and students free of charge through online, offline and in-person training. HP LIFE has reached more than 800,000 users since 2012, on track to reach its goal to enroll one million users by 2025.

Inclusive access to technologies, tools and materials that can advance education for people everywhere is a key strategy for HP’s Sustainable Impact. In 2019, 6.3 million personal computers were shipped to schools worldwide. During COVID-19, many schools were closed and the shift to mobile and online learning has been a challenge for many students who lack access to devices or a reliable Internet connection to learn from home. In response, HP has launched Print, Play & Learn,  a free HP global resource of free printable activities for learning and playing at home, as well as initiatives launched in China and India to deliver a combination of educational, engaging and fun online and printed content. As part of the wide range of actions HP is taking to combat COVID-19, HP and HP Foundation are committed to donating an estimated US$8 million in products and grants to support blended learning and local communities.

HP is committed to building a more equitable, more resilient and more sustainable future for all. The company, along with more than 155 companies signed the ‘Recover Better’ statement, which urges governments worldwide to align their COVID-19 economic aid and recovery efforts with the latest climate science because planetary health affects human health. This type of public advocacy and collective action is an important part of HP Sustainable Impact and supports the systemic changes and policy action needed to help HP achieve its goals and commitments as we continue to protect our people, communities and the planet.

SATO introduces innovative handwashing solution

SATO introduces innovative handwashing solution, SATO Tap, for families in India and other developing nations to enhance hygiene practices

LIXIL committing $1m for accelerated rollout of the product to fight COVID-19

First batch of the taps to be manufactured in India and regionally distributed, in line with the ‘Atmanirbhar Bharat’ vision

SATO, LIXIL Group Corporation’s social business that aims to solve water, sanitation, and hygiene problems by providing affordable and easy-to-install sanitation systems to local communities around the world, has today introduced its new handwashing solution called the ‘SATO Tap’.

 

According to UNICEF, 40% of the world’s population still do not have access to basic handwashing facilities at home. To address this immense challenge, LIXIL has committed USD 1 million in line with its promise to support the commitments of development partners and others, which could impact 5 million people with improved handwashing. 

This resonates with Prime Minister Narendra Modi’s vision of an ‘Atmanirbhar Bharat’ (‘Self-reliant India’).

“The COVID-19 situation underscores the vast inequities in access to water, sanitation, and hygiene for households in Asia and globally.  We know that washing your hands with soap is one of the effective interventions against disease transmission. By bringing SATO’s design and engineering expertise, combined with global LIXIL support, we aim to accelerate this new handwashing innovation to market, making it available to households to reinforce handwashing behaviour change and to refine it for long-term offering in the SATO product portfolio.” said Erin McCusker, Vice President & Head of SATO. 

SATO has worked with partners during the design process, receiving valuable technical inputs and helping to validate the efficacy of the SATO Tap design which consists of a plastic base with a nozzle that can be fitted with widely available plastic bottles. It is compact and can be used both within the home and as a handwashing station at public facilities. The unique design ensures minimal contact between the user and the tap, thereby reducing the spread of disease, while the trickle action minimizes water use, meaning fewer refills, while maintaining a solid flow of water.

In addition to providing an affordable handwashing facility to disadvantaged households through the SATO Tap, LIXIL’s existing partnership with UNICEF will also expand activities in handwashing and sanitation in response to COVID-19.

These activities range from collection of commercial and behavioral insights to strengthen behavior change, joint advocacy to promote hygiene programming and maximizing existing public and private sector networks and supply chains to expand access to handwashing.

“We know that one of the most effective ways to reduce the spread of diseases is to wash your hands. But for the poorest and most vulnerable children and families, the immediate risk of COVID-19 is compounded by a lack of basic handwashing facilities,” said Kelly Ann Naylor, UNICEF, Associate Director, WASH. “This global pandemic has made it more essential than ever to work closely with governments and private sector partners, like LIXIL, to ensure handwashing is possible for all.”

Speaking on the need for innovative hygiene solutions, Daigo Ishiyama, Chief Technology and Marketing Officer SATO, said, “We believe the SATO Tap will help advocate life changing behavior. It will promote hygiene and reinforce handwash behavior change by mitigating risks while conserving water. Our vision is well-aligned with the Government of India’s vision and priorities for its people in promoting hygiene and advancing SDG 6 by 2030.”

                                                    

The first SATO Taps will be manufactured in India, and will be made available for partners in September 2020, with ramp up of production and retail availability through early 2021. LIXIL is also working to establish other licensing partners to expand to other markets globally.

-End-

Learn more at – https://www.sato.lixil.com/satotap

Swasth, a Tele-health Network, launched to

Swasth, a Tele-health Network, launched to
provide free Corona care

Digital Healthcare Push to Empower 1.3 Billion People with Equal Access

●     100+ private and not-for-profit entities join hand to frame tech response to national crisis

●     India’s first big push towards mass adoption of digital healthcare as a citizen empowering platform

●     Swath platform facilitates seamless and remote interaction between registered medical practitioners and patients

●     App-based consultation service in Hindi, English and Gujarati to begin with, and will be expanded to 25 Indian languages

A coalition of over 100 healthcare specialists have come together to launch Swasth, a nationwide telemedicine platform for Corona care, which digitally connects Indians to the best doctors and wellness providers. Swasth is a swift response promoted by the country’s health and technology leaders to Prime Minister Narendra Modi’s call to leverage telemedicine as a national priority in the current stressed times. The mobile app-based service leverages India’s technology prowess to deliver equal and affordable healthcare to 1.3 billion people, cutting across geographical and income divides.

This indigenous digital healthcare system is being launched at a time when the COVID-19 pandemic has challenged traditional service providers.

Mr. Kris Gopalakrishnan, a part of the Swasth Governing Council, said, “Swasth has brought together the best of resources in the country to provide free healthcare to bring quick relief during the crisis. Swasth will work to further public health goals and work in coordination with the Medical Council, public health organizations, and the private sector to expand quality healthcare access to the masses. I firmly believe that this crisis is a great opportunity to re-invent healthcare delivery in India.”

Swasth facilitates seamless, remote interaction between registered medical practitioners and patients through multiple modes of video and telephony. Swasth deploys AI based triaging to determine the care required, culminating in a digitally signed prescription and treatment advice.

Along with the free consultations, Swasth will also provide services like home quarantine assistance, diagnostics, pharmacies, hospital bed discovery and booking assistance at a subsidized cost.

All doctors on the Swasth platform are duly verified and undergo specially designed training programs on tele-consultation and COVID-19 clinical protocols.  Swasth is in full compliance with the industry-accepted cybersecurity norms for healthcare platforms. It uses a defense-in-depth approach to ensure that data is securely transmitted, stored, managed and accessed. Currently, the app supports consultation in Hindi, English and Gujarati and will be expanded to 25 Indian languages.

Swasth is the country’s first big push towards mass adoption of digital healthcare as a citizen empowering platform.

Dr Nachiket Mor, a member of the Governing Council, added, “Swasth is a unique non-profit coalition of members from multiple sections of the Indian healthcare ecosystem, including individual doctors, small and large hospitals, diagnostic labs, pharmacies, telemedicine platforms, insurance companies, and healthcare-technology companies, who have joined hands with the goal of creating affordable healthcare for all Indians in every nook and corner of the country, so that they can immediately get the care that they need for this crisis, as well as for all their other healthcare needs. Swasth will do this by making it easy for patients to smoothly access the services they need from its members, and will also enable each of its members to provide a wide range of high quality services to their patients, by giving them access to protocols, technologies, and platforms that are best in class, completely interoperable, and fully compliant with the latest guidelines.”

Dr NK Jairam, a key member of the project team, said, “As we move on with the current Corona pandemic and with social distancing being one of the key remedies to eradicate it, telemedicine is going to be an integral part of the healthcare system. Tele- consultation has been offered by doctors since the early 2000s, however, it has gained rapid momentum because of the current situation. With Swasth, telemedicine will gain a boost which will empower patients to make quick decisions and also teach them self-care.”

Abheek Singhi, Senior Partner at BCG, and member of the project team for this initiative, said,  "Swasth is a consortium of 70+ organizations and 200+ volunteers with a common goal of building a comprehensive COVID care platform in the short term and of leveraging technology to transform primary healthcare delivery in the medium term. This is the first time such a coalition like this has come together. BCG is privileged to be partnering with this alliance"

Swasth is created by a not-for-profit consortium of different players across healthcare providers, telehealth platforms, entrepreneurs, technology experts and doctors. Swasth received a grant of INR 10 crore ($1.3 million) from the ACT Grants, an umbrella platform of entrepreneurs and investors backing start-ups fighting the pandemic.

ICICI Lombard introduces new benefits in

ICICI Lombard introduces new benefits in its health insurance policies

The new covers/ policy related relaxations are proactive measures to help customers amid Covid-19 pandemic

·         Waiting period for new customers of Complete Health Insurance has been reduced to 15 days from 30 days for Covid-19 inpatient claims

·         No Claim Bonus benefit to be maintained even in the event of COVID-19 hospitalization claim

·         Home healthcare benefit introduced to honour claims pertaining to treatment at home

ICICI Lombard General Insurance, India’s largest private sector non-life insurance company, has rolled out a host of offerings for its health indemnity customers, in light of the coronavirus pandemic. These introductions further embellish the company’s current health insurance offerings such as Complete Health Insurance.

The additional benefits and relaxations have been arrived at, keeping in mind the challenges faced by customers due to Covid-19 pandemic and the associated lockdown. The endeavor is to enhance customer experience and benefits in the current environment. This initiative is in line with ICICI Lombard’s philosophy of ‘Nibhaye Vaade’ and going the extra mile for its customers in times of need. 

New additions at glance

·         Waiting period on new policies has been reduced to 15 days (from 30 days earlier) for COVID-related inpatient claims

o   The reduced waiting period is being offered without any increase in premium.

o   It will apply to all health indemnity policies including Complete Health Insurance, Health Booster, Healthcare Plus, and Group Health Insurance plans.

o   This move will ensure convenience and greater peace of mind to the policyholder.

·         Home Healthcare benefit

o   As part of this offering, customers can get themselves treated at home instead of having to avail hospitalization to avail insurance claim.

o   This will significantly benefit those customers who wish to avail treatment for any ailment in the safe environment of their home, rather than a hospital, thereby ensuring social distancing.

·         Continuation of ‘No Claim Bonus’ even in the event of a Covid-19 related claim

o   The company will continue to offer ‘No Claim Bonus’ even in the case of a COVID-19 claim.

o   Additional Sum Insured (ASI) accrued in the policy will not be impacted, if the insured is hospitalized due to Covid-19 thus providing much-needed financial relief to customers.

o   The said benefit will be provided in ICICI Lombard’s Complete Health Insurance and health booster plans.

Commenting on the occasion, Sanjeev Mantri, Executive Director, ICICI Lombard GIC said, “At ICICI Lombard, we believe in hand holding our customers in their hour of need. As the Covid-19 pandemic continues to throw new challenges, we thought it important to embellish our health insurance proposition to ensure that we effectively meet the emerging needs of our customers. The additional benefits, offered at no extra cost, should enable our policyholders to derive maximum benefit from their health insurance cover.”

Since the outbreak of COVID-19, ICICI Lombard has taken several measures for the benefit of its customers. This includes launch of a dedicated ‘COVID-19 Protection Cover’. Further, the company has offered a host of digital solutions to its customers across web, mobile and apps. It has also simplified many of its processes pertaining to policy purchase, renewal, claims etc.

ICICI Lombard has always aimed to be ahead of the curve and offer industry-first initiatives to its customers, thus staying true to its ethos of “Nibhaaye Vaade” (Keeping Promises).

Note: Home Healthcare benefit will be available to customers till March 31, 2021

Arvind announces launch of

Arvind announces launch of revolutionary anti-viral fabrics under its “Intellifabrix” brand  

Arvind partners with Swiss Textile Innovator HeiQ to introduce HeiQ Viroblock technology in India

Arvind will offer Shirting & Suiting Fabrics, Readymade Garments and Face Masks using this technology

While fabrics have been usually associated with fashion, as the world faces the COVID-19 crisis, there is an urgent need for antiviral fabrics in our daily lives. Arvind Limited, India’s leading textile-to-retail conglomerate today announced launch of Anti-Viral Textile technology for the First time in India under its brand “Intellifabrix”. Arvind has partnered with Swiss Textile Innovation leader HeiQ Materials AG in association with Taiwanese Specialty chemical major M/S Jintex Corporation to introduce this revolutionary anti-virus technology in India.

Research shows that viruses and bacteria, can remain active on textile surfaces for up to two days. Garments treated with HeiQ Viroblock actively inhibit viruses and kill them upon contact, helping to minimize the potential for re-transmission of pathogens through clothing.

Announcing the launch of the anti-viral fabrics under INTELLIFABRIX Mr. Kulin Lalbhai, Executive Director, Arvind Limited says, “The world is facing an unprecedented crisis due to COVID-19. In this context, we are committed to keep our customers safe and that is why we have tied up with HeiQ to bring its revolutionary Viroblock technology to India. We are excited with this partnership and in a very short period of time we will introduce into the Indian market fabrics that will provide best-in-class viral protection and are fashionable at the same time.”

HeiQ Viroblock is one of the most advanced global antiviral products created by HeiQ, a Swiss textile innovator. HeiQ Viroblock significantly enhances the antiviral log reduction and reduces viral infectivity by 99.99% and is one of the first textile technologies in the world to claim such efficacy on SARS-CoV-2. HeiQ Viroblock has been designed to stay active on treated garments for 30 gentle domestic washes, ensuring safety for the consumer that lasts for a good part of the garment’s life.

Talking about the partnership Mr. Carlo Centonze, CEO, HeiQ Group said, "HeiQ Viroblock is a special combination of our advanced silver and vesicle technology that has been proven effective against the human coronavirus 229E & SARS-CoV-2, causing Covid-19, with 99.99% reduction of virus in 30 minutes. It is a safe, hypoallergenic and patent pending technology. We are pleased to partner with Innovative Brand ‘Arvind’ in India to offer this technology across their range of products”

Innovation is one of the key pillars of Arvind’s growth and success. From innovation in fibre to sustainability in fashion, Arvind has been revolutionizing the fashion industry and powering high-fashion brands across the world with continuous innovative offerings. Arvind has led the battle against COVID-19 by manufacturing PPE suits and Masks using its rich technical textiles knowledge, and now the company is happy to bring this breakthrough innovation of anti-viral fabrics under the INTELLIFABRIX brand to the Indian market