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<ul class="summary-list"><li>Noelia Voigt and UmaSofia Srivastava have been wiped from the Miss USA and Miss Teen USA Instagrams.</li><li>Voigt resigned as Miss USA 2023 in May, and Srivastava resigned as Miss Teen USA two days later.</li></ul>There are over 4,000 posts on the Miss USA Instagram page. But once a <a target="_blank" href="https://www.businessinsider.com/new-miss-usa-michigan-us-army-officer-2024-8">new queen was named</a> on August 4, nearly all evidence of the two women who recently resigned their crowns vanished.One of those women is <a target="_blank" href="https://www.businessinsider.com/miss-usa-noelia-voigt-resigned-from-title-2024-5">Noelia Voigt</a>, who relinquished her Miss USA 2023 crown in May. She held the position for seven months, but the only post from her reign acknowledges her resignation.The same is true on the Miss Teen USA page, where any glimpse of <a target="_blank" href="https://www.businessinsider.com/miss-teen-usa-resigns-after-miss-usa-gives-up-crown-2024-5">UmaSofia Srivastava</a>, who resigned her title two days after Voigt, has also disappeared.It's just the latest development in the <a target="_blank" class="" href="https://www.businessinsider.com/miss-usa-pageant-scandals-queens-laylah-rose-organization-2024-7">drama surrounding Miss USA</a> and its CEO, Laylah Rose. Now, it's causing many to wonder if the pageant hopes to sweep all its scandals under the rug as its leadership stays silent.<h2 id="dfde6ff4-7d2a-48b6-88b1-2d7ba08e519a">Vanishing act</h2>Voigt and Srivastava have said little about their resignations, citing nondisclosure agreements that forbid them from speaking out about the organization.Still, their mothers, <a target="_blank" href="https://www.businessinsider.com/miss-usa-miss-teen-usa-mothers-speak-out-resignations-2024-5">Jackeline Voigt and Barbara Srivastava,</a> previously spoke to Business Insider about what they had witnessed their daughters go through under Rose's leadership."Our daughters were happy and excited to have the job of their lives when they won those crowns," Barbara Srivastava told BI in May. "And to expect this is the payment on their self-esteem and their confidence, being bullied by a 46-year-old woman who just wants to be in the limelight herself — this is unacceptable.""Noelia was shaking just to see a text or a call or an email from Laylah," Jackeline Voigt said during the same interview. "Because it was so abusive, so aggressive, the communication."In an <a target="_blank" class="" href="https://www.prnewswire.com/news-releases/an-open-letter-from-ceo-laylah-rose-on-miss-usa-302158718.html">open letter</a> shared on May 30, Rose said the allegations of a "toxic environment and bullying are not true.""To be clear, such behavior is not accepted, and we can assure you that if such behavior ever occurred, we would take immediate steps to protect our titleholder and provide access to appropriate resources," she added.As news of the disappearing Instagram posts began to spread on August 9, Jackeline and Barbara sent a statement to BI."While both of our daughters have moved on from this, we are disappointed to learn that the Miss USA Organization has chosen to erase their presence in its entirety from official social media," the statement read."This includes all official appearances, their community service with official partners of the Miss Universe Organization and Miss USA, from Smile Train and BestBuddies, as well as all of their personal platforms — which they worked so hard to cultivate, support, and promote — and which were the inspiration for both ladies to compete and reason for their winning the Miss Teen USA and Miss USA 2023 crowns."The Miss USA organization didn't respond to a request for comment.While Voigt and Srivastava are the first to resign in the pageant's history, it's not typical for Miss USA to remove Instagram posts from the reigns of past queens.On the Miss USA page, BI counted more than 80 Instagram posts of <a target="_blank" href="https://www.businessinsider.com/rbonney-gabriel-miss-usa-universe-rigged-controversy-scandal-2023-9">R'Bonney Gabriel</a>, who won Miss USA in October 2022, and 90 posts of <a target="_blank" href="https://www.businessinsider.com/who-is-morgan-romano-meet-new-miss-usa-and-engineer-2023-1">Morgan Romano</a>, who assumed her title after Gabriel won Miss Universe in January 2023. There were also over 200 posts featuring Miss Teen USA 2022 Faron Medhi on its Instagram page.Now, there are monthslong gaps between posts that previously featured Voigt or Srivastava.Other than a post acknowledging <a target="_blank" class="" href="https://www.instagram.com/p/C6oN3xnrNQh/">Voigt's resignation from May 6</a>, the only photo that remains of her and Srivastava on the Miss USA and Miss Teen USA pages is one of them holding a check for a collaboration with Best Buddies, a longtime Miss USA sponsor, and Supermodels Unlimited, a pay-to-play magazine owned by Miss USA employee Kimberly Clark.Neither of the pageant queens are tagged, and they're barely discernible in the photo, which features a caption written by Rose.<h2 id="abde0298-c639-454f-b005-6232ac8e4a2c">Forgotten sponsors</h2>Among the deleted Instagrams are posts made in collaboration with sponsors, who paid for Voigt and Srivastava's travel, meals, and more in exchange for promotion.Voigt's sister Natasha Mihm accompanied her to High Point Market in April as her plus-one. Since Voigt had studied interior design, Mihm said it was a perfect partnership."In exchange for Noelia being there and promoting them, High Point Market covered everything," Mihm said. "Miss USA did not cover a single thing, and that was in exchange for posts for the Miss USA page — and that's all gone now.""It was a really nice and natural partnership that was mutually beneficial," she added. "People at the market were super excited that Miss USA was there. I don't understand why that partnership is just wiped now."Ben Muller, the vice president of marketing and communications for High Point Market, told BI that "we loved having Noelia here to support her aspirations in the design industry." He declined to comment further on the Miss USA organization removing her Instagram posts.But Mihm said removing them was "really strange.""It just feels very juvenile to me," Mihm said. "As someone who loves Noelia and has seen her go through this experience and worked so hard to get to that point, it's really sad. She gave something to the brand while she was there, even though she resigned.""It feels like they're trying to erase the whole narrative in a way that feels like they don't have to answer for it," she added.<div type="image" title="Noelia Voigt and Uma Srivastava" height="1000" width="1444" msid="112574739" hostid="261" sizebytes="87748"></div>Maria Montgomery, Miss Kentucky 2009, took Voigt and Srivastava to Cabo San Lucas, Mexico, in February for a sponsorship trip with Smile Train. She volunteered for the Miss USA organization and acted as their supervisor."It was a magical experience," Montgomery said. "Smile Train took really great care of us and covered a lot of funds to have all three of us in a resort. Each day, we went out to different homes to visit patients who had cleft-lip surgery or were going to have surgery through Smile Train.""It's a trip that Miss USA has taken every year for the past few years, and the girls have always said it's one of their top experiences," she added. "To see it firsthand was really special because both of these girls are bilingual. They were on the same level with these kids. We were there to help them, but these girls also had their lives touched just by being around them."Montgomery said she found it sad that the special memories from that trip were now erased from the Miss USA and Miss Teen USA Instagram pages."It's obviously, on a personal level, very disrespectful," Montgomery said. "But it also makes me feel like they want to hide that there were ever issues for girls to resign.""It's very unfair for the differences these girls have made in other people's lives," she added. "The last thing we need to do is hide or silence either of them."In a statement sent to BI, Nicole Bell, Smile Train's vice president of public relations, said the nonprofit extended "appreciation and gratitude to Noelia and Uma for their time and dedication to raising awareness about Smile Train.""For questions regarding what Miss USA decides to do with content on their various platforms, we defer to Miss USA," Bell added.<h2 id="3b58efbd-55b5-40c8-ad19-c5c2c26dd500">Bringing up the past</h2>The Miss USA Instagram page still has plenty of pictures of <a target="_blank" href="https://www.businessinsider.com/miss-usa-new-queen-miss-hawaii-savannah-gankiewicz-2024-5">Savannah Gankiewicz</a>, Voigt's runner-up at Miss USA 2023, who took over the title after she resigned.Gankiewicz made headlines after appearing on <a target="_blank" href="https://www.facebook.com/watch/?v=1212225506878511">NewsNation</a> the week before the <a target="_blank" href="https://www.businessinsider.com/miss-usa-alma-cooper-army-west-point-pageants-2024-8#:~:text=Alma%20Cooper%2C%20a%20US%20Army,graduated%20in%20the%20top%205%25.">Miss USA 2024</a> pageant, praising the organization. She said the allegations that Rose harassed Voigt and Srivastava were "completely false" and that it was Rose who had been "bullied.""Miss USA is an organization about empowerment, and that's exactly what it does," she added.<div type="image" title="Savannah Gankiewicz and Laylah Rose" height="1024" width="743" msid="112574740" hostid="261" sizebytes="78644"></div>Following the July 28 interview, Voigt posted a statement on her Instagram story saying she was "very disheartened to see a video today of someone completely invalidating my and UmaSofia's experiences.""UmaSofia and I are unable to speak on our experiences at all, which is disappointing and difficult to deal with when false narratives are being created from all different directions," she added. "If the intention is to empower women, why the need to invalidate their feelings and experiences and question the character of those who are now formerly part of the organization, who have stepped away and lost their dream or their career?"Srivastava also posted a statement on her Instagram story, saying she would "not stand for someone impugning my or Noelia's character.""Claiming that Noelia and I were not victims, but rather perpetrators of anything remotely close to 'bullying,' in the words of the current representative, is unfortunate, but reaffirms that my choice to distance myself from this organization was the right one," she added.Gankiewicz's mother, Yvienne Peterson, added to the drama. In screenshots reviewed by BI, Peterson sent pageant fans direct messages about Voigt, including one that called her a "rude bitch" and "little troll." She also left public comments on Miss USA fan pages attacking people who supported Voigt and Srivastava, claiming her daughter was always meant to win Miss USA."What I am is a bitch and I proudly own it," she wrote in one on July 30. "I have to head out and continue to build my empire."Peterson and Gankiewicz did not respond to a request for comment on this story. However, in an interview with BI the day after her NewsNation appearance, Gankiewicz said she supported Voigt and Srivastava and "everything they went through.""I am sorry that that is what they experienced, but now it's time to just empower an organization that they believed in," she added. "So it's time to spread love and show the new delegates and new winners that they, too, can keep going for this dream."

Miss USA erased Noelia Voigt and UmaSofia Srivastava, the pageant queens who resigned, from its Instagram pages

EV startup Vidyut on Tuesday said it has raised $10 million in its Series A fundraise (a mix of equity and debt funding) led by 3one4 Capital, and will deploy new funds to scale its new offerings that include EV insurance, lifecycle management and EV resale. The round also witnessed participation from new and existing investors namely, Saison Capital, <keyword id="20657706" type="General" weightage="20" keywordseo="zephyr-peacock" source="keywords">Zephyr Peacock</keyword>, Force Ventures, a venture debt fund Alteria Capital and CEO of Udaan, <keyword id="20483955" type="General" weightage="20" keywordseo="sujeet-kumar" source="keywords">Sujeet Kumar</keyword>. Founded in 2021, the startup said it aims to expand its presence to 40 cities and will double its team size by the end of FY25 as it prepares to build a full stack EV ecosystem. "Our focus is not just on financing but on elevating the entire EV ownership journey for India's SMBs, who are the backbone of our economy," said <keyword id="20657704" type="General" weightage="20" keywordseo="gaurav-srivastava" source="keywords">Gaurav Srivastava</keyword>, co-founder of Vidyut. The company already offers ownership solutions for Mahindra, Piaggio, Altigreen, Murugappa Group's Montra Electric, Euler Motors and OSM vehicles. "Vidyut's model removes EV adoption barriers, especially in the large but price sensitive driver cum owner segment. At 3one4 Capital, we are excited to back the Vidyut team in their mission to simplify EV ownership," said <keyword id="20657703" type="General" weightage="20" keywordseo="sonal-saldanha" source="keywords">Sonal Saldanha</keyword>, Vice President, Investments, 3one4 Capital. "After hitting an inflection point, customised financing and lifecycle management solutions will play a central role in large scale EV adoption, requiring lenders to evaluate asset risk alongside borrower risk," added <keyword id="20657705" type="General" weightage="20" keywordseo="dhairen-tohliani" source="keywords">Dhairen Tohliani</keyword>, Vice President, Alteria capital. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8-pro-review/articleshow/107726935.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8-pro-review/articleshow/107726935.cms" target="_blank">Pixel 8 Pro review: ‘Okay Google’ – The flagship smartphone ticks almost all boxes</a><a href="https://www.businessinsider.in/tech/news/dell-xps-17-9730-review/articleshow/107330203.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/dell-xps-17-9730-review/articleshow/107330203.cms" target="_blank">Dell XPS 17 9730 review – Feature-packed laptop but at a premium</a><a href="https://www.businessinsider.in/tech/news/viewsonic-vx3219-2k-pro-review/articleshow/106729348.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/viewsonic-vx3219-2k-pro-review/articleshow/106729348.cms" target="_blank">ViewSonic VX3219 2K PRO gaming monitor – Reliable at an affordable price</a>

EV startup Vidyut raises $10 mn to build full-stack ecosystem

New Delhi, Banking issues like reluctance to process <keyword id="6358355" type="General" weightage="20" keywordseo="forex" source="Orion">forex</keyword> received through alternate channels and high processing fees are hindering the growth of <keyword id="7848945" type="General" weightage="20" keywordseo="e-commerce-exports" source="Orion">e-commerce exports</keyword> from India, and there is a need to bring mindset change to unlock the sector's potential, a report by think tank GTRI said on Monday. Unlocking India's e-commerce export potential to USD 350 billion by 2030 requires addressing banking issues that hinder growth and increase operational costs, the Global Trade Research Initiative (GTRI) said. "To initiate change, both the RBI and banks must shift their mindset towards treating small-value exports differently from larger ones. This shift is essential to prevent misuse while streamlining processes. Without this fundamental change, any reforms attempted by the RBI and banks will fall short," it said. Small e-commerce businesses often face challenges because banks are not equipped to handle low-value transactions efficiently, it added. The key issues include reluctance to process forex through alternate channels, high processing fees, incorrect purpose code allocation, and limitations in the RBI's EDPMS (Export Data Processing and Monitoring System). The Reserve Bank of India tracks export payments and reconciliation through its Export Data Processing and Monitoring System. "Banks are happy to process forex received through bank transfers but reluctant to process forex received through foreign currency cheques, payment gateways like PayPal, credit cards, <keyword id="151105" type="General" weightage="20" keywordseo="western-union" source="Orion">Western Union</keyword>, cash receipt when a buyer selects item live in the retail shop," it said. Banks delay crediting forex received in a firm's account when payments are received through such channels, and this affects cash flow and hampers business operations, the report noted. Banks charge money multiple times at different stages for the same small-value shipment, it added. Elaborating this, it said that essential charges include charges for submitting shipping bills (Rs 80 to Rs 2,000) at the time of forex realisation (1-to-2.5 per cent of value), intermediary bank charges during forex transfers (USD 10 to USD 55 per transaction), penalties for bills pending at EDPMS (Rs 100 per shipping bill per month). "Most charges are fixed for a transaction irrespective of value. Bank charges can exceed 50-60 per cent of the shipment value. This makes e-commerce exports commercially unviable," it said, adding banks allocate purpose codes for each remittance but frequently issue incorrect codes. For example, purpose code P0103, meant for advance payments, is often assigned even when exports have already occurred and the firm has submitted proof. Incorrect allocation of purpose codes by banks leads to reconciliation problems, EDPMS pendency issues, and issuance of notices and fines on exporters. The RBI issues notices to exporters for EDPMS defaults but does not give them direct access to view their records, as per the report. "Exporters must rely on banks/DGFT for critical data, leading to unnecessary delays and complications," GTRI co-founder <keyword id="504704" type="General" weightage="50" keywordseo="ajay-srivastava" source="Orion">Ajay Srivastava</keyword> said. The report suggested eight action points, such as the creation of a single window platform for e-commerce and small-value shipments, standardise bank charges, defining a time limit for banks to complete all small export-related requests by the RBI, and exempting shipment value up to USD 1,000 per shipment from monitoring till the single window is implemented. It also pitched for an extension of the timeline for EDPMS closure from the current nine months to 24 months and redesign the courier shipping bill to reflect correct payment terms. On the single window, Srivastava called for integrating the RBI, banks, Customs, DGFT, India Post, courier companies and exporters. "This platform should cover all realisation methods other than bank transfers. The exporter should be able to conduct all transactions online. SW will automate the EDPMS reconciliation process," he added. He said that high processing fees and multiple charges at different stages of exporting hurt small businesses the most, and the banks should charge a one-time fee for each shipment instead of further charges at various stages. "The government could subsidise these fees to ease the financial burden on small exporters," the report said, adding there is a need to raise the export realisation variation limit from 25 per cent to 100 per cent.

Banking issues hinder growth of exports through e-commerce: GTRI report

Brain stroke is the second most common cause of death in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> with one patient succumbing to the disease every four minutes, a top health expert flagged on Thursday. Padma Shri awardee Dr (Prof) MV <keyword id="272876" type="General" weightage="50" keywordseo="padma-srivastava" source="Orion">Padma Srivastava</keyword>, who is the most renowned neurologist in the country and is a Professor of Neurology at All India Institute of Medical Sciences, participated in the celebration of International Women's Day event at Sir Ganga Ram Hospital today. Delivering a keynote address at the event titled, "Stroke care and its primary preventive methods in poor resource settings in India", Dr <keyword id="5915" type="General" weightage="80" keywordseo="srivastava" source="Orion">Srivastava</keyword> said, "Stroke is the second most common cause of death in India. About 1,85,000 strokes occur every year in India with nearly one stroke every 40 seconds and one stroke death every 4 minutes." She further referred to the Global Burden of Diseases (GBD) and said that most incidents of stroke were recorded in the country. "India bore most of the burden of stroke with 68.6 per cent incidence of stroke. 70.9 per cent stroke deaths and 77.7 Disability Adjusted Life Years (DALYs) lost. These figures are alarming for India with many living in poor resource settings. Another alarming and important finding of the GBD 2010 stroke project is 5.2 million (31 per cent) strokes were in children aged less than 20 years. The stroke burden is greater in India and more so among younger and middle-aged people," she said. The health expert flagged the lack of necessary infrastructure to deal with the alarming data in the country. "In spite of these alarming figures, many Indian hospitals lack the necessary infrastructure and organization required to treat stroke patients quickly and efficiently and do not deliver adequate stroke care. The stroke services across the country especially in public sector hospitals are deficient in many aspects," Dr Srivastava said. The Padma Shri awardee further listed the solutions to boost the infrastructure needed to tackle the rising numbers. "One of the solutions for this deficiency in rich and poor resource settings in India is to adopt Telestroke models in poor resource settings. Implementation of Telemedicine / Telestroke facilities is an important step for bridging the economically and geographically challenged and underprivileged sections of the society," she said. This program also included inspirational talks by three distinguished faculty members of the hospital. The members included Dr Jayashree Sood, Chairperson, Institute of Anesthesiology, who spoke on how to maintain the balance between work and life, especially for women, <keyword id="16745456" type="General" weightage="50" keywordseo="prof-kusum-verma" source="Orion">Prof Kusum Verma</keyword>, Advisor Cytopathology who spoke on her experiences mitigating professional challenges and <keyword id="100507" type="General" weightage="50" keywordseo="padma-bhushan" source="Orion">Padma Bhushan</keyword> Dr Neelam Kler Chairperson of Department of Neonatology who talked about her belief in the saying 'Never say Never'. This program was hosted by the department of Research and chaired by Prof NK Ganguly, former director general ICMR and Chairperson department of Research, Sir Ganga Ram Hospital. The department of research at Sir Ganga Ram Hospital has a robust PhD program and a state of art equipped laboratory with a focus on basic and translational research in varied fields including neurobiology, cancer biology, stem cell biology, immunology, autoimmune and infectious diseases. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-14-launched-in-new-yellow-color-in-india-heres-how-it-looks/slidelist/98519266.cms">Apple iPhone 14 launched in new yellow color in India: Here’s how it looks</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/elon-musk-run-tesla-faces-probe-as-reports-of-steering-wheels-falling-off-while-driving-emerge/articleshow/98519867.cms">Elon Musk-run Tesla faces probe as reports of steering wheels falling off while driving, emerge</a>

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Home interiors and renovation platform <keyword id="2644491" type="General" weightage="100" keywordseo="livspace" source="Orion">Livspace</keyword> has laid off at least 100 employees as part of cost-cutting measures, the media reported. According to a report in leading startups coverage portal Inc42, the layoffs impacted 2 per cent of Livspace's workforce, affecting product, engineering, content, and marketing teams. The company said in a statement that "we will, in the normal course of our operations, redeploy resources". "This is organic and a reflection of normal adjustments and/or performance management parameters," it said, adding that the business has more than doubled over the past year and it aims to turn profitable in the coming year. Livspace had sacked 450 employees during the first wave of the Covid pandemic. In October last year, the company earmarked $100 million to invest and incubate new offerings and brands in the direct-to-consumer (D2C) market in the home interiors and renovation segment. Singapore-based Livspace said it aims to create multiple home interiors and renovation solutions and D2C offerings which serve homeowners across various segments in its markets across India, Southeast Asia and the Middle East region. "As we continue to scale across new segments in existing geographies and enter new regional markets, we are looking for successful businesses and like-minded entrepreneurs that help us scale even faster," <keyword id="354664" type="General" weightage="50" keywordseo="anuj-srivastava" source="Orion">Anuj Srivastava</keyword>, CEO and Co-founder, of Livspace, said. Livspace currently has operations in over 45 cities across Southeast Asia, India, and the Middle East region. It has raised around $450 million in capital from some of the top global investors including KKR, Ingka Group Investments (part of the largest IKEA retailer Ingka Group), <keyword id="141646" type="General" weightage="50" keywordseo="tpg-growth" source="Orion">TPG Growth</keyword>, Goldman Sachs, Kharis Capital, <keyword id="8869182" type="General" weightage="50" keywordseo="venturi-partners" source="Orion">Venturi Partners</keyword> and others. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/google-i/o-2023-pixel-7a-pixel-fold-pixel-tablet-android-14-and-everything-we-expect-to-see/articleshow/98798666.cms">Google I/O 2023 – Pixel 7a, Pixel Fold, Pixel Tablet, Android 14, and everything we expect to see</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indian-carriers-to-report-1-6-1-8-billion-consolidated-loss-in-fy24-says-industry-body-capa/articleshow/98799040.cms">Indian carriers to report $1.6-1.8 billion consolidated loss in FY24 says industry body CAPA</a>

Home decor company Livspace lays off 100 employees

Manufacturing of electric vehicles (EVs) in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> will increase its dependence on <keyword id="1334" type="General" weightage="80" keywordseo="china" source="Orion">China</keyword> for raw materials, mineral processing, and battery production, according to a report of by the economic think tank <keyword id="15910220" type="General" weightage="100" keywordseo="gtri" source="Orion">GTRI</keyword>. The Global Trade Research Initiative (GTRI) also said that there is a need for life cycle impact evaluation for the EVs sector EVs result in the release of pollutants during battery making, disposal, and charging and about 70 per cent of materials used to manufacture EVs in India are imported from China and a few other countries, it said. "EVs will increase India's dependence on China for raw materials, mineral processing, and battery production," it said. China has bought the largest lithium mines in Australia and South America. It processes more than 60 per cent of the lithium produced globally. It also processes 65 per cent of cobalt and 93 per cent of manganese. China makes three out of four batteries produced globally, it said, adding over 100 Chinese battery units make 60 per cent of the cathodes and 80 per cent of the anodes used in lithium-ion cells. The report pointed out that EVs have implications for jobs and pollution and it identified 13 issues related to the interests of consumers, industry, and the government for an evaluation. The issues include the high prices of these vehicles, the fitness of EVs for a long journey, performance under extreme weather, increase in power demand, less fit for public transport, increased dependence on China, no reduction in pollution, disruption of the auto component sector, and inadequate availability of lithium. "EVs with lithium-ion batteries are at best a work-in-progress innovation. We must understand the long-term impact of EVs on jobs, pollution levels, imports, and economic growth," GTRI co-founder <keyword id="504704" type="General" weightage="50" keywordseo="ajay-srivastava" source="Orion">Ajay Srivastava</keyword> said. On the pollution issue, it explained that a typical 500-kilogram lithium car battery uses 12 kg of lithium, 15 kg of cobalt, 30 kg of nickel, 44 kg of copper, and 50 kg of graphite. It also uses about 200 kg of steel, aluminium, and plastics. Mining extraction, transport, and processing of these materials release pollutants and CO2, leading to air and water pollution, it added. "The battery's life is 6-7 years; after which it needs to be recycled. Recycling is complex as the battery contains many toxic materials that are challenging to dispose of. Firms promoting EVs talk about zero tail-pipe emissions but are silent on mining and disposal costs," the report said. Further, it said that EVs will only increase pollution as the batteries are charged from coal-generated electricity. India generates 60 per cent of its electricity from fossil fuels like coal and petroleum, and of this, coal accounts for 50 per cent. "Electric cars only make sense when most power comes from renewable energy," it said, adding that EVs will disrupt India's auto-component industry with 700 organised and 10,000 unorganised manufacturers. It also said that EVs will end the existence of lakhs of shops/garages selling spare parts, changing oil, and servicing vehicles. Further, it said that EV is not a global phenomenon and the push for it is coming from Europe, which is introducing the Carbon Border Adjustment mechanism to protect their polluting industry and disrupt global trade. "There is no standardisation in the charging port for electric scooters. Each firm issues its charging port model. Unless the charging ports are standardised, each maker has to set up separate charging infra across the country," it added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/imdb-shares-top-rated-indian-films-nominated-for-oscars/slidelist/98470341.cms">Two-decade-old Lagaan outscores RRR amongst Oscar-nominated Indian movies on IMDb</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/world-faces-biggest-cholera-surge-in-20-years/articleshow/98470190.cms">World faces biggest cholera surge in 20 years</a>

EVs will increase India's dependence on China for raw materials, battery production: GTRI report

With the petrol-powered small car/hatchbacks buyers affected and others opting for sport utility vehicles (SUV), <keyword id="44883" type="General" weightage="100" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword> India Ltd will increase its CNG-powered models as well as SUVs, Maruti-Suzuki Chairman R.C. <keyword id="18837" type="General" weightage="80" keywordseo="bhargava" source="Orion">Bhargava</keyword> said on Friday. He also said the small car segment which was at about 70 per cent for the company will go down to about 65 per cent which is also a substantial size. Speaking to reporters, he noted that there has been a degrowth in the small car hatchback segment while the SUV segment logged major growth. "Next year, there will be degrowth in the hatchback segment. The purchasing power of the hatchback segment has been affected and hence, is not growing. The production capacity will come down from 70 per cent to what the market needs," Bhargava said. Nevertheless, hatchbacks are still a large part of Maruti Suzuki's business. According to him, the decline in the small car market began three years ago and inflation will make it worse affecting this market segment. He said the change in the composition of sales - decline in small cars and increase in SUVs - is due to the various price increases. Maruti Suzuki's market share, which was at 51 per cent in 2019, has gone down to 41 per cent this September. Bhargava did not agree that the company was late in entering the electric vehicle segment -it plans to launch its model in 2025 - even as Tata Motors has launched a mass-market model. "We are localising the components, looking at the infrastructure development in the country. An electric vehicle customer should not face issues," he said. Queried about the inventory build-up of the small cars, <keyword id="169965" type="General" weightage="50" keywordseo="shashank-srivastava" source="Orion">Shashank Srivastava</keyword>, Senior Executive Director, Marketing &amp; Sales said there has been a bit of build-up as there is a mismatch of supply and demand. He did not agree that the increase in compressed natural gas (<keyword id="6356175" type="General" weightage="80" keywordseo="cng" source="Orion">CNG</keyword>) prices will result in higher demand for diesel-powered models. <keyword id="5915" type="General" weightage="50" keywordseo="srivastava" source="Orion">Srivastava</keyword> said the diesel segment remains at 18 per cent and CNG continues to be a good economical option against petrol and diesel vehicles. He said Maruti Suzuki will launch more CNG-powered models based on the waiting period for the existing ones. On the SUV front, Bhargava said Maruti Suzuki will increase its offerings and newer models will be showcased at the upcoming AutoExpo. Queried about the impact of rupee depreciation against the dollar, he said that the Indian currency depreciation is much less as compared to other currencies. The rupee has strengthened against the yen, which has resulted in imports becoming cheaper for Maruti Suzuki. Bhargava said the company is targeting two million units this year though the major challenge is the supply of semiconductors. As regards the used car segment Srivastava said the used car pool has gone down. Meanwhile, the company logged an operational revenue of Rs 29,930.8 crore and a net profit of Rs 2,061.5 crore for the quarter that ended on September 30, 2022. For the previous year's corresponding period, Maruti Suzuki's total operational revenue stood at Rs 20,538.9 crore and a net profit of Rs 475.3 crore. During the quarter under review, the company had sold 517,395 vehicles -- domestic 454,200 units, exports 63,195 units. A shortage of electronic components impacted production by about 35,000 vehicles in this quarter. The same period of the previous year was marked by an acute shortage of electronic components and consequently, the company could sell a total of 379,541 units comprising 320,133 units in domestic and 59,408 units in export markets. Pending customer orders stood at about 412,000 vehicles at the end of this quarter out of which about 130,000 vehicle pre-bookings are for recently launched models, the company said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-touches-82-72-against-dollar-before-closing-at-82-63/articleshow/95146545.cms">Rupee touches 82.72 against dollar before closing at 82.63</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/markets-log-gains-for-2nd-day-on-buying-in-reliance/articleshow/95147052.cms">Markets log gains for 2nd day on buying in Reliance</a>

Maruti Suzuki's small car sales to go down, to launch CNG models and SUVs

<ul><li>The physical rehabilitation market in India largely comprises of geriatric care, restorative care and pain relief. </li><li>An estimated 35-40% of the physical <keyword id="6476602" type="General" weightage="80" keywordseo="rehab" source="Orion">rehab</keyword> spend in India is concentrated in the top 10 cities. </li><li>Restorative care comprises 28% of the physical rehabilitation market in India. </li></ul>India’s physical rehabilitation market is expected to grow by 15.5% to become a $35 billion market by FY28, according to a report by <keyword id="16041939" type="General" weightage="50" keywordseo="redseer-consultants" source="Orion">Redseer Consultants</keyword>. Currently, it’s a $17 billion market and covers – restorative care that includes recovery after critical health conditions like a complex surgery; geriatric care that includes services and products for the elderly; and pain-relief via physiotherapy for arthritis, injury and more. Both at-home and at-centre care are included here. “Rehab is rapidly evolving and today transition care centres and out-of-hospital care providers can address a wide range of patient requirements from basic to complex or critical care,” says <keyword id="57808" type="General" weightage="50" keywordseo="vivek-srivastava" source="Orion">Vivek Srivastava</keyword>, CEO of <keyword id="16041940" type="General" weightage="50" keywordseo="hcah-india" source="Orion">HCAH India</keyword>, an out-of-hospital patient care provider. According to <keyword id="3359665" type="General" weightage="100" keywordseo="redseer" source="Orion">Redseer</keyword>’s <keyword id="16041938" type="General" weightage="50" keywordseo="rehab-tech" source="Orion">Rehab Tech</keyword> report, lack of awareness, sparse availability and limited capabilities of rehab providers are currently restricting the usage of rehab, despite its strong need. The report says that the potential for growth comes from the fact that an estimated 35-40% of the physical rehab spend in India is concentrated in the top 10 cities – Delhi NCR, Hyderabad, Bangalore, Mumbai, Kolkata, Chennai, Pune, Kochi, Coimbatore and Indore. Physical rehabilitation care in India: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Segment </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Market value in India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Description </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Restorative care </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$5 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recovery from critical health conditions, post-surgical care </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Geriatric care </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$5 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Medical care to optimise functioning in elderly people </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pain relief </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$3-4 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Physiotherapy-led care in non-critical conditions such as arthritis, injuries and lifestyle related pains </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Others </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$3 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr></tbody></table>Source: Redseer Rehab Tech Report Physical rehab market an attractive business opportunity Not only is physical rehab a large opportunity, it is also an attractive business proposition. In the case of restorative care, which comprises 28% of the total market, the gross margins are at 50-55% for the service provider, as per the report. Moreover, this is a high-value service. A consumer recovering from a critical surgery spends anywhere around $650-700 or ₹50,000 for 12 days of care. It’s also a scattered and an unorganised market. While hospitals dominate the critical, restorative rehab segment, local providers lead the geriatric and pain-relief segments. “Both of them aren’t able to aptly serve the consumer needs. Despite providing a standard service, consumers find rehab at hospitals to be expensive and lacking a recovery-focused environment. While local players are more affordable, they lack the basic quality and professionalism in service and have limited ability to address complex situations,” said the report. Redseer also believes that there is a strong case for specialised players who employ technology to solve these pain points. Consumers also have a latent need related to the ease of availing rehab – booking, customisation, care plan management, remote monitoring etc. "Elders are consuming more technology, are using tech devices, buying online, and want more safety, more healthcare, and more engagement than ever before", says Saumyajit <keyword id="715" type="General" weightage="50" keywordseo="roy" source="Orion">Roy</keyword>, CEO, <keyword id="10864914" type="General" weightage="50" keywordseo="emoha" source="Orion">Emoha</keyword>, an eldercare facility in India. <keyword id="14282102" type="General" weightage="50" keywordseo="kushal-bhatnagar" source="Orion">Kushal Bhatnagar</keyword>, engagement manager at Redseer, believes that players with a stronger tech enablement are better placed to thrive in the market. “Specialised rehab providers with wide segment coverage have access to a larger total addressable market (TAM) and potential to create a stronger brand in the rehab space among both consumers and doctors,” he added. Redseer also believes that specialised rehab players with cross-segment coverage, both at-home and at-centre capabilities, and tech focus, are likely to prosper. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/a-startup-that-could-either-be-a-hero-or-zero-in-2-years-get-no-funds-on-shark-tank-india-s2/articleshow/96935490.cms">A startup that could ‘either be a hero or zero in 2 years’ get no funds on Shark Tank India S2</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/from-selling-puran-poli-on-a-bicycle-to-being-offered-seat-at-shark-tank-bhaskars-puranpoli-ghars-story/slidelist/96924857.cms">From selling puran poli on a bicycle to being offered seat at Shark Tank: Bhaskar’s Puranpoli Ghar’s story</a>

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