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Tag: gold

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Ola Electric’s Futurefactory Shines with Five Gold Awards at ICQCC 2024

Nov 19, 2024 by Sujata 0 Comments #Awards, #gold

Bengaluru, November 19, 2024: Ola Electric, India’s largest pure-play EV company, has achieved a landmark victory with its all-women workforce at Ola Futurefactory, securing five Gold Awards at the 49th International Convention on Quality Control Circles (ICQCC) held in Sri Lanka in November 2024. Competing against industry peers from 14 countries, this milestone makes Ola Electric the first Indian EV manufacturer to win at this scale – demonstrating leadership in quality, innovation, and operational excellence.

The achievement celebrates the might of Ola Electric’s women-led teams from rural backgrounds, who showcased their work at the factory’s paint shop, motor shop, general assembly line, battery shop, and welding shop. The projects involved showcasing solutions that contribute to cost efficiencies, quality and safety enhancement as well as productivity enhancement – reflecting the company’s focus on inclusivity and sustainability.

Commenting on the accomplishment, an Ola spokesperson said, “This recognition at ICQCC is a testament to our relentless pursuit of excellence with our incredibly talented women at the helm of the EV revolution at our Futurefactory. It reflects our ethos of blending innovation with empowerment, and setting new benchmarks on the operational-heavy automotive shop floors, which are traditionally dominated by men. We are extremely happy to have started this shift in the Indian automotive manufacturing landscape and are committed to bringing more women on the shop floors.”

Award-Winning Projects
Five teams representing the paint shop, motor shop, General Assembly Line, battery shop, and weld shop won the Gold Award for the following projects:

  • Paint Shop: The project involved showcasing innovative optimisation strategies that helped with the reduction of operational costs
  • Motor Division: The project highlighted our efforts in the enhancement of product competitiveness by reducing the COPQ (Cost of Poor Quality)
  • General Assembly: The team efficiently accelerated time-to-market by increasing capacity in the Front Fork sub-assembly process
  • Battery Shop: The focus of this project was to boost battery pack productivity in order to meet the growing customer demands
  • Weld Shop: This project prioritised improving robotics throughput to enhance operational efficiency and streamline workflows

Ola Futurefactory, located in Krishnagiri, Tamil Nadu, is India’s largest integrated and automated electric 2-wheeler manufacturing plant. The facility manufactures best-in-class Ola S1 scooters, including vehicle components like battery packs, motors, and vehicle frames.

news

India Sets Bold Vision to Become Global Jewelry Export Powerhouse with Sweeping Reforms

Nov 11, 2024 by Sujata 0 Comments #6th ICC Gems and Jewellery Summit 2024 in New Delhi., #All India Gem & Jewelry Domestic Council., #Atul Kumar Tiwari, #GJEPC’s 50th India Gem & Jewellery Awards (IGJA), #gold, #Gujarat’s Common Facility Centers, #ICC National Expert Committee, #jewelry export hub, #Mukesh Ambani, #platinum, #Prasada, #Saiyam Mehra, #Senco Jewelers, #Silver, #special notified zones (SNZs), #Suvankar Sen, #Vishwakarma scheme

India’s jewelry sector is on the verge of a major expansion as the government launches extensive reforms to position India as the world’s top jewelry export hub. Jitin Prasada, Minister of State for Commerce and Industry, outlined the government’s commitment to scaling up infrastructure, decreasing dependency on imported raw materials, and expanding the industry’s global reach at the 6th ICC Gems and Jewellery Summit 2024 in New Delhi.

“Prime Minister Modi’s administration is dedicated to strengthening India’s jewelry sector by enhancing local infrastructure and improving supply chains. These reforms will enable Indian manufacturers to compete on a global scale,” Prasada stated.

Plans include significant investments in facilities such as Gujarat’s Common Facility Centers, which will leverage India’s skilled labor and cultural heritage to drive export growth and create jobs. Prasada emphasized that by collaborating and sharing best practices, the industry can secure India’s place as a global leader in jewelry exports.

Further highlighting the sector’s potential, Atul Kumar Tiwari, Secretary of the Ministry of Skill Development and Entrepreneurship, emphasized the vital role of India’s gem and jewelry sector in elevating the country’s global competitiveness. “Our industry not only contributes to economic growth but also fosters well-being and sustainable employment. The future lies in integrating traditional craftsmanship with modern technology to boost productivity and innovation,” Tiwari explained. He cited initiatives like the Vishwakarma scheme and collaborative efforts across Gujarat, Maharashtra, and Tamil Nadu as essential to equipping local artisans with modern skills and advancing industry standards.

Echoing these ambitions, Suvankar Sen, Co-Chair of the ICC National Expert Committee on Jewelry and Lifestyle and MD of Senco Jewelers, called for united action to further elevate India’s global standing. He highlighted the government’s support, expanded infrastructure, and a focus on innovation as key to overcoming industry challenges related to costs, working capital, and job creation.

Earlier in the year, Mukesh Ambani, Chairman of Reliance Group, projected that India’s jewelry exports could potentially reach $100 billion, driven by rising demand in markets such as the Middle East and North America. Speaking at the GJEPC’s 50th India Gem & Jewellery Awards (IGJA), Ambani underscored the potential of Indian-designed jewelry to compete internationally.

The government has also made budget-driven policy changes, such as removing the 2% equalization levy on diamond sales in special notified zones (SNZs) and reducing import duties on gold, silver, and platinum.

With a blend of government support, industry innovation, and international market expansion, India’s jewelry sector is poised to establish itself as a global leader in the coming years, said Saiyam Mehra, chairman, of All India Gem & Jewelry Domestic Council.

news

Boost Sales and Reach with Get Powered by Warehouse for Luxury Indian Brands

Oct 24, 2024 by Sujata 0 Comments #gold, #Official

Bengaluru, 24th October: White Gold, South India’s largest organized gold buyers has announced its partnership with Bengaluru Bulls – a professional Pro Kabaddi League team, as their official gold buying partner. This strategic collaboration stems from White Gold’s dedication to fostering local sports excellence and promoting talent at the grassroots level. Through this alliance, White Gold aims to empower sports enthusiasts and appreciate local talent in the sport of Kabaddi.

This collaboration will enhance White Gold’s presence across various match day promotions, digital platforms, and social media campaigns, ensuring the brand gains significant visibility. Additionally, White Gold will have the opportunity to engage in exclusive team activities and promotional initiatives throughout the season, further amplifying its reach and impact.

Speaking about this collaboration, Mr Rahul Joseph, Founder and CEO of White Gold said, “White Gold believes in the upliftment of the local sports community. A big part of our mission, being based in Bengaluru, is to elevate the culture and torchbearers of Bengaluru. This collaboration is a great deal of pride for White Gold in stabilising its footing as a trusted local brand.”

Adding further, Kirthi Muralikrishnan, CEO of Bengaluru Bulls shared, “As the CEO of Bengaluru Bulls, I am thrilled to announce our partnership with White Gold, a brand that shares our values of excellence, resilience, and innovation. This collaboration is a perfect match, as both our team and White Gold are committed to pushing boundaries and delivering quality. Together, we aim to inspire not just on the Kabaddi mat, but in every aspect of life. This partnership is a testament to the power of teamwork and determination, and we look forward to a successful journey ahead.”

With more than 50+ branches across Karnataka, Kerala and Tamil Nadu, White Gold is a prominent entity offering transparent and tech-driven gold buying options. The company purchases old and unused gold ornaments from customers and gives them an instant payment, opening avenues for the customers to reutilise their savings.

Serving over  satisfied customers and 250 members strong, White Gold aims to be a trusted financial solution provider. The brand has ambitious plans targeting  in revenue for the financial year 2024-25, White Gold continues to set new benchmarks in the industry. With this partnership, White Gold is keen on providing a push of encouragement to all sports enthusiasts across the country while also spreading awareness towards transparency, reliability, and professionalism in gold exchange.

business

Gold Savings App Jar Surpasses 2 Crore Users

Apr 16, 2024 by Sujata 0 Comments #Bihar, #Bihar Sharif, #gold, #Gold Savings, #Gold Savings App Jar, #gold space, #Hassan, #Jar, #Karnataka, #Misbah Ashraf, #Nishchay Ag, #UPI

Bangalore, April 2024: Jar offers a streamlined investment journey that takes minimal time and customers can start saving money in small amounts, which gets invested in 24K, 99.9% pure gold. With Jar, users can save effortlessly and convert it to cash or receive physical gold at their convenience. Jar’s revolutionary round-off method effortlessly accumulates spare change from every transaction and invests it in gold so users can save that extra bit every month.

Jar DBWLogo

The company’s remarkable growth has not gone unnoticed. Jar won in the Best WealthTech Startup category at the Global Fintech Awards 2023 and was even mentioned as being one of the top UPI auto-pay players in the country. Jar was also recognized by LinkedIn as one of India’s Top Startups of 2023.

In the last 3 years, Jar has truly made leaps and bounds in the digital gold space, having started with a simple thought. Traditionally, there have always been high entry barriers in savings and investing: a high ticket size to start investing, time to understand and get started, and the complexity of the financial products.

From humble beginnings in Hassan, Karnataka, and Bihar Sharif, Bihar respectively, both Nishchay Ag and Misbah Ashraf had seen first-hand how middle India both earns and spends on a daily basis. They knew there was a gap in the market for a financial product that could help millions of people save better and get them started on their financial fitness journey.

That’s how Jar was born and, through Jar, these barriers of entry have been reduced significantly by leveraging the two most widely adopted financial tools in India – UPI and gold. Gold remains a popular investment in India, with over half the population (53%) choosing it. Now, a growing number of young investors are turning towards digital gold.

After getting a foothold in the gold space, Jar now plans to expand its offerings to include Lending, Investments, and more to meet the needs of its ever-growing user base.