Good Governance

Ever since its inception in 1945, the Mahindra Group has built a strong reputation on the bedrock of ethical business practices and good governance.

Corporate governance is a reflection of the Company’s culture, policies, relationship with stakeholders, commitment to values and ethical business conduct. Creating a company culture of openness is a lot more complex than merely complying with laws and regulations that protect profits and self-interest. At Mahindra, governance is practiced in both, the letter and the spirit of the law. It requires consistent focus on customers and the larger community, and honesty in dealing with these and other stakeholders.

S. Durgashankar, President – Group M&A, Corporate Accounts and Group Secretarial, Member of the Group Executive Board, Mahindra & Mahindra, said, “Governance, ethics, honestly, integrity all of these could be thought of as different words but there is a huge overlap among them. Mahindra’s board brand promise to the consumer includes trust, and value for money,

which imply honesty and integrity in business dealings, and all of this is ultimately connected to good governance practices.”

Good governance is critical to building transparency and trust inside, and outside an organization. Mahindra has articulated a set of core values and corporate governance policies that are open for anybody to see. With structures like the corporate governance council firmly in place to ensure all governance concerns are effectively and transparently addressed, there is zero tolerance for integrity related issues.

S. Durgashankar, added, “We are among the rare few companies when it comes to honestly, integrity and governance practices, coupled with successful business performance. This business savvy, managerial capability and dedication helps bring returns for all stakeholders. The combination of strong business performance coupled with good governance practices over a sustained period of time makes us among the rare few companies globally that have achieved this balance.

First Choice Launches IBB 2019

Mahindra First Choice Wheels just launched the third edition of its IndianBlueBook (IBB), the industry leading pricing and analytics platform for new and pre-owned vehicles in India.

The India Pre-owned Car Market Report 2019 is the first in-depth, definitive consumer study of the second-hand car market, in about a decade, where an effort is been made to understand in detail the profile of customers buying and selling pre-owned vehicles, their primary motivations and key concerns. This exclusive study was done with PremonAsia, a consumer-insight based consulting firm based out of India and Singapore.

According to the study, the used car market in India is about 1.2 times the new car market, having crossed the four million mark. Numerous reasons like upgrading from a two-wheeler, to having a second car for the family make buyers choose a used car. Entry-level hatchback and sedans make up 75% of the used car market and are still the preferred choice of vehicle for buyers, as in the new car market. Interestingly, the age of the car isn't a deal-breaker. Most cars end up being less than five years old and cost around Rs 3.7 lakh on an average. Testing of new business models, launch of new vehicle categories, and rise of innovative approaches to solving problems have driven the pre-owned car market.

Ashutosh Pandey, MD and CEO of Mahindra First Choice Wheels, said, " Everything around us is changing - consumer preferences, purchase behavior business and funding environment and operating practices. The evolving consensus seems to be that the winning model in this space is the one that shares three key characteristics - it's transaction-led, full stack (retail and enterprise) and omni-channel online and offline. An interesting, though not unexpected, shift is the impact of technology in the consumers' decision-making process, with price transparency and ease of vehicle discovery creating new 'trusted' channels in the pre-owned car ecosystem."

Click here to read the complete report online

The Bold Gets Bolder

Featuring design enhancements and new aspirational features, Mahindra and Mahindra recently launched the upgraded version of its compact SUV, the Bold New TUV300 at a competitive price of Rs. 8.38 lakh.

The new 2019 TUV300, which is the only product with an authentic SUV design in the compact SUV segment, looks more muscular as it now features an aggressive piano black front grille with black chrome inserts, muscular side cladding, a new X-shaped metallic grey spare wheel cover, and a new head lamp design with Daylight Running Lights (DRLs). It inherits the Mahindra’s legendary tough and rugged DNA, while its authentic “true-blue” SUV stance establishes its extraordinary road presence. Christened as 'Bold New TUV300', the facelift version gets a 1.5-litre mHAWK100 diesel engine with 2-stage turbocharger. The engine is BS4 compliant and produces 100 bhp and 240 Nm of power. It comes mated to a 5-speed manual transmission.

Veejay Ram Nakra, Chief of Sales and Marketing, Automotive Division, Mahindra & Mahindra Ltd., said “We are pleased to launch the Bold New TUV300, the only compact SUV with an authentic SUV design that combines the space and comfort of 7 seats with performance and hi-tech features.

The TUV300 has already established itself in the compact SUV segment with 1L satisfied customers. I am confident that the bolder and more muscular design will appeal to buyers looking for a true SUV.”

The interiors have been designed by Pininfarina and feature silver accents for a more premium look and feel. It comes equipped with a new reverse parking camera, a 7.0-inch infotainment system with GPS integration, static bending headlamps, and Micro-Hybrid technology. Mahindra's Bold New TUV 300 is available in seven colors including two new ones — Highway Red, and Mystic Copper.

Watch the bold new TUV300 in action and witness its thrilling performance, premium interiors, advanced technology and safety features.

Setting Standards in Logistics

The Indian logistics sector is presently estimated to be worth USD 160 billion and is poised to grow phenomenally over the next two years, and reach a size of USD 215 billion by 2020. Considering the accelerating momentum of the logistics industry and its contribution in boosting India’s prospects when it comes to building a sustainable supply chain, the Confederation of Indian Industry (CII), organized a conference on ‘Standardization in Logistics 2019’ - A step Towards Accelerating Logistics Sector Growth.

Pirojshaw Sarkari, Member CII National Committee on Logistics & CEO, Mahindra Logistics Ltd., said, “Standardization needs to take place across the industry be it pallet or vehicle size, warehousing standards, contracting standards or facilities for drivers. The cost of logistics is relatively higher in our country than comparable countries due to inefficiencies created by lack of standardization. I believe that for MAKE IN INDIA to be successful, MOVE IN INDIA must be efficient. The journey to common standards is not going to be easy. But, I believe this is the way forward.”

The Government of India has reiterated its steadfast commitment to modernizing the functioning of the Indian logistics sector with a key focus on standardization and infrastructure development. Standardization allows all departments within a business to communicate efficiently and seamlessly.

In logistics, standardization becomes particularly important because it improves supply chain proficiency and smoothens out the activities that it processes for business partners.

Anant Swarup, Joint Secretary – Logistics, Ministry of Commerce and Industry, Government of India, said, “The department of logistics is working towards reducing cost of logistics and improving the performance index for the country. Standardization in the industry is an important step towards that. Standardization was also part of the draft - National Logistics Policy which the department released earlier. We look forward to work with CII, and the industry to make this happen”.

The emergence of new-age technologies like Artificial Intelligence (AI), Internet of Things (IoT), and Machine Learning will disrupt the conventional workings of the country’s logistics sector. The impact of these technologies is anticipated to enhance productivity across the supply chain spectrum and streamline operational processes. These technologies will largely play an enabling role in boosting efficiencies of supply networks, reduce wastages and lead to supply chain optimization.

Strategic investment, efficient use of technology, and government initiatives to support the logistics sector are going to be crucial for the industry that is poised to play a key role in driving the economy on a high wave.

Driving Innovation Forward

True creativity and innovation are of vital importance for any organization that wants to stay relevant, competitive and growth-oriented. Over the years, Mahindra has consistently evolved to become one of India’s leading brands. Rajesh Jejurikar, President, Farm Equipment sector, M&M, and Member of the Group Executive Board, speaking on World Creativity and Innovation day on April 21, stressed how ‘Alterative Thinking’ is the route to capture this spirit of creativity and innovation.

With a focus on breaking the paradigm of doing things a certain way, and thinking outside the box, creativity can be defined as the generation of ideas that are both original and useful, while innovation harnesses these ideas to implement new processes, products or improve upon the status quo. Innovation hence isn’t solely

represented by new devices, ideas or methods but also by the process of uncovering new ways of doing things. It can also pertain to adapting and modifying business models to achieve better products and service.

Rajesh Jejurikar, President Farm Equipment sector, M&M, and Member of the Group Executive Board, said, “In our business we are attempting to do this in the farming sector with the concept of democratizing technology. We are trying to bring creativity and innovation by brining newer technologies which our consumers can afford, access and drive change in the way they do farming. At the end of the day, this is what we believe in. This is the RISE philosophy of Mahindra.”

Click here to see the latest developments in the farm equipment sector.

 Tweet of the Week

Anand Mahindra, Chairman, Mahindra Group
And finally, we’re solidly in Saudi Arabia with a great partner—The Olayan Group...

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