Asian Paints profit doubles in Q1

Asian Paints profit doubles in Q1

New Delhi: Asian Paints on Tuesday said its cumulative profit grew more than two-fold to Rs 574.30 crore during the first quarter of the current financial year ended June 30, 2021. The company had made a profit of Rs 219.61 crore during the April-June quarter of the last financial year.

Asian Paints told the stock exchange that its operating income grew 91.1 per cent to Rs 5,585.36 crore during April-June 2021 as against Rs 2,922.66 crore in the same period of the previous fiscal.

Amit Singal, Managing Director and CEO, Asian Paints said, "The domestic decorative business has more than doubled in size and earnings grew strongly against the lower base effect of last year." And the home decor business also doubled its income from the previous year.


Amazon India to set up digital centers in various cities to support small industries

Amazon India to set up digital centers in various cities to support small industries

New Delhi: E-commerce company Amazon India is planning to open digital hubs in various cities to connect Micro, Small and Medium Enterprises (MSMEs) with its platform and empower them in online business. These centers will help small industries in their digital business by providing awareness and related facilities about e-commerce and will accelerate their growth.

Pranav Bhasin, Director (MSME, Sales Partner Experience), Amazon India said this. The company has opened a digital center for MSMEs in Surat, Gujarat earlier this month. This center will act as a resource center and will help in meeting the needs of MSMEs as well as solving their problems. Through these centers, the company will provide awareness and understanding about e-commerce, export market information, etc. 

Bhasin said, “We have planned to set up digital centers near clusters of small industries in the country to empower MSMEs in the field of digital business and to address their problems.” However, he did not say that Amazon. In which cities and by when India plans to open such digital centers. It is noteworthy that MSMEs play an important role in the country's economy. It contributes about 30 percent of the total Gross Domestic Product (GDP) and 48 percent of the exports. 

Bhasin said, “We recently opened the first Amazon Digital Center in Surat, Gujarat. This center will cater to all the needs of MSMEs to become digital entrepreneurs. In this, MSMEs will be given all kinds of support in terms of benefits of e-commerce and logistic support, digital marketing, GST and taxation. are MSMEs. These centers will help them in their digital business and accelerate their growth. We have set a target of digitally enabling one crore MSMEs by 2025, including through Amazon Digital Center. 

On benefits to MSMEs from e-commerce, Bhasin said, “From the beginning, we have been focused on digitally empowering MSMEs and other vendors by using technology to connect and reduce operational costs for them. . Our investments in technology and infrastructure have fueled their growth." He said, "It is because of our efforts that today lakhs of small and medium businesses are joining us. 

More than 10 lakh artisans and weavers and over 1.5 lakh local offline stores are working with Amazon through franchisees. More than 70 thousand small manufacturers have now launched global brands and exports have already crossed $3 billion.” He added that Amazon.in has more than 8.5 lakh sellers and more than 90 per cent of them are MSMEs. . More than fifty percent vendors are from small and medium towns like Aligarh in Uttar Pradesh, Angul in Odisha, Idukki in Kerala.