India should look for outward investments to meet domestic needs: Exim Bank study

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Chennai, Sep 16 | India should look at outward investments in agriculture and rare earth elements to meet domestic demand as well as specific interventions for encouraging innovation-led manufacturing, revisiting regulations to reduce import dependence in certain sectors, states a study by Export Import Bank of India (Exim Bank).

According to the study, the recent performance of the manufacturing sector in India is indicative of an underlying inertia, with the share of manufacturing in India’s gross value added declining to 15.1 per cent in 2019-20, as compared to 18.4 per cent in 2010-11, despite growing consumption demand in the country.

This weakness in the domestic manufacturing sector has translated into greater dependence on imports to meet the growing domestic demand over the years, said Exim Bank.

According to Exim Bank study, in sectors like agriculture and rare earth elements, there is a greater need for strategies that enable collaborative arrangements and encourage outward investments into partner countries for meeting domestic requirements.

Securing rare earth elements is important for India to enter high-tech manufacturing.

In the case of technology-intensive sectors the strategies are focused on creating domestic capacities for reducing import dependence.

The study titled ‘Self-Reliant India: Approach and Strategic Sectors to Focus’, identifies select sectors for import substitution and enhancing domestic production including electronics, defence equipment, machinery, chemicals and allied sectors, pharmaceuticals, and select agricultural products.

The study has also included sectors such as auto components, and iron and steel where, though there is overall trade surplus for India, but in some sub-categories, there is trade deficit, particularly with China

These sectors account for more than $186 billion of imports by India, with a share of nearly 39 per cent in overall imports and 50 per cent in the non-oil imports by India.

ASome of the other strategies suggested by the study include: specific interventions for encouraging innovation-led manufacturing, addressing deficiencies in tax and duty structures, encouraging joint ventures, revisiting government regulations and programmes, among others.

Source: IANS

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Policybazaar Unveils its new brand campaign "AapKiSideHai"

Policybazaar Unveils its new brand campaign

Akshay Kumar delivers the brand’s promise of always being on the customer’s side

Gurugram, 19th Sept, 2020: Policybazaar.com (Twitter handle: PolicyBazaar), India’s largest online insurance marketplace with over 10 million customers, showcases its commitment to customers in its new television campaign “AapKiSideHai”. The new ad campaign featuring Policybazaar brand ambassador, Akshay Kumar, highlights the brand’s promise of embracing a holistic customer centric approach while helping to bridge the insurance protection gap in India.

Policybazaar’sAapKiSideHai campaign seeks to reassure its customers on being a dependable Insurance partner for them, every step of the way. The brand has always focused on distributing products like term insurance, health insurance, zero commission ULIP’s and motor insurance that are optimal from a customer perspective. Policybazaar is now extending the brand promise beyond the purchase experience to ensure that consumers get the highest levels of service throughout the policy lifecycle.

The new brand campaign reinforces Policybazaar core value of putting the customer first by delivering on its promise of providing a trusted platform for all types of insurance products. The brand is committed to guiding the customer throughout the insurance journey, starting from recommending the right products at affordable pricing, ensuring thatthe policy issuance process is smooth and fast, and, to providing services and claims assistance when needed.

“While we continue to highlight the importance of Health & Term life Insurance through our marketing campaigns, with the brand promise of Policybazaar AapKiSideHai, we also intend to position Policybazaar as a customer centric brand, that is committed to stand by its customers, both pre and post purchase”, said Samir Sethi, Head of Brand Marketing, Policybazaar.com. The new ad series highlights Policybazaar’s unparalleled support to customers, while providing them with the ease of comparing and buying term and health plans online with guidance at each & every step.

Speaking about the TVC launch, Sharat Dhall, Chief Operating Officer, Policybazaar.com said, “Our ultimate aim is to provide 360-degree assistance to customers that starts from when the policy is bought, to provide assistance when the claim is paid out, should such a situation arise. Winning and maintaining customer trust is a strong ethos within the company and this campaign reflects that. At a time when the world is grappling with a crisis like no other, the brand intends to instill confidence in the customers’ buying decisions by assuring them protection of their futures with the right insurance products & thorough assistance throughout the journey.”

The new brand campaign in its series displays moments of indecision that people may have while investing in protection products. It addresses these queries &emphasizes the importance of nurturing a bond with the consumers thereby creating customer delight.

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