MoU inked between Ministry of Textiles and Flipkart: “ABHIYAAN Flipkart – Kaarigar Ke Dwar” to provide an online marketing platform to handloom weavers

With a view to provide online marketing platform to handloom weavers to boost the handloom sector, empower the weavers and boost manufacturing in the country, Ministry of Textiles, through DC (Handlooms), has inked a Memorandum of Understanding (MoU) with online retailer Flipkart India Pvt. Ltd. Through this exclusive pact, Flipkart will provide weavers in India online marketing platform, infrastructural support in data analytics and customer acquisition to assist them get remunerative prices for their products and expand their business. The weavers will sell their products under their brand name and emerge as an entrepreneur selling his products directly to buyers across the country through the online platform.

Flipkart will also provide DATA analytics and market intelligence which will help the weavers focus only on producing better saleable product ranges. It will help them plan their production and inventory and scale up their business, thus significantly booting manufacturing in rural India and encourage entrepreneurship.

The partnership will connect the artisans directly to the buyer and the support from Flipkart in guiding, packaging, collecting and delivering to the buyer will encourage the artisans in rural India.

Flipkart’s “ABHIYAAN Flipkart – Kaarigar Ke Dwar” to connect the weavers to the buyers across the country will also help resuscitate various arts which are on the verge of extinction and change the face of rural India. This initiative will help rural weavers earn right remuneration for their products without even stepping out of their homes. Thus the children of these weavers will be encouraged to learn and continue the art and stay back in the rural areas instead of migrating to the urban areas for jobs, thereby continuing the rich tradition of Indian art.

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ITC tops the charts in Fortune’s most admired companies list 2014

Fortune’s most admired list 2014 has been announced and has brought much cheer to the business world. There are 19 new entrants which have made it to the most revered list and obviously there are companies who have slipped from their hitherto slots, making way for others. The list has been prepared with the consultations with the Hay group. The 2014 list has placed ITC at top being followed by engineering and infrastructure major Larsen and Toubro (L&T), another FMCG giant Hindustan Unilever, India’s own carmaker Maruti Suzuki and PSU bank SBI among the top five most admired companies in India. TCS which was last year’s topper has slipped to the sixth position. Sector-wise, the NTPC is at the top amongst power firms, Vodafone India is ahead in telecoms and in healthcare Apollo hospitals are at the helm. These positions are rested on a widespread survey of more than 1,500 companies taking views and responses from the top industry executives, including on the basis of peer group response.

ITC: a short profile

ITC has made its way up to the top for India’s most admired company in the Fortune Magazine’s most admired companies of 2014. ITC being one of India’s biggest private sector which has diversified from Tobacco to acquiring a robust portfolio including FMCG, Hotels, Paperboards &Specialty papers, Packaging, Agri-business and Information Technology. It has a market cap of US $45billion and an annual turnover of US $7 billion. The country has surpassed Tata group’s IT firm TCS to gain the top slot.

Fortune Magazine: a short profile

Fortune magazine published by the Time Group is the most reputed magazine in the business world. It was founded by Henry Luce in 1929 at US. The closest competitors are Forbes and Bloomberg businessweek, so the magazine gains its edge with the detailed and extensive search-backed articles and features. The most distinguished feature of the magazine is the Fortune 500 list of companies across the world. This is basically a well-worked out rating of the best of breed companies in the world based on their revenue. The list has been a regular annual feature since 1955 and is thus much awaited in the business circles worldwide. There are other lists which have been added and now come as inherent feature. They are:
• Best companies to work for
• Fortune 500
• Fortune Global 500
• Fortune India 500
• Fortune most powerful women entrepreneurs

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