DANGER SIGNAL In the aftermath of the train accident in Odisha, experts have
called for the homogenisation of safety processes across Indian Railways’ network
equipment (OHE)—requires regular
maintenance. However, these need
blocks or a brief curtailment of rail
operations, which haven’t been given
priority throughout the system, says
Trivedi. He cites an instance to high-
light how these blocks make a big dif-
ference to railway safety. In the mid-
2000s, there was a spate of accidents
on Mumbai’s suburban railway net-
work. “We decided to allocate blocks
from midnight to four in the morn-
ing. They were announced widely
so that all agencies and contractors
were aware and planned to complete
the maintenance work within those
four hours. Post its implementation,
there has been a remarkable im-
provement in the safety of Mumbai’s
suburban railway,” he says.
In the aftermath of the Gaisal
crash too, it was decided to widely
advertise such blocks. However, the
railways failed to roll out a similar
system on a pan-India basis. Con-
sequently, departments like signal-
ling, track and OHE often end up
chasing the operations department
for blocks. And it is this particular
aspect that has been ignored in the
CRS report. “Although incidents of
derailment have gone down in the
railways due to infrastructure addi-
tion, collisions and fires have gone
up,” says Trivedi. “The first priority
should be repair and maintenance.
The second priority should be run-
ning the trains. The third priority
should be upgrading the technolo-
gy,” says the head of a global railway
OEM requesting anonymity.
THE FIXED INFRASTRUCTURE
OF THE RAILWAYS REQUIRES
REGULAR MAINTENANCE TO
ENSURE SAFE OPERATIONS
The other recommendation is
on homogenisation of safety pro-
cesses across the world’s fourth-
largest rail network. With 19 rail-
way zones—including the Kolkata
Metro—simultaneously maintain-
ing safety and operations is a com-
plex task. Over the years, the rail-
ways has imbibed new technologies
such as the point machine, relay,
interlocking, audio frequency track
circuit (AFTC) and multi-section
digital axle counter (MSDAC).
“While the railways has moved well
in adopting different technologies,
these are available in multiple layers
and, therefore, harmonising them is
critical,” says the OEM head.
The Balasore accident has put the
spotlight back on the adoption of
new and cutting-edge technologies
to overhaul safety. Excluding the sig-
nalling part, which is now electronic,
a large number of inspections contin-
ue to happen manually. For instance,
a trip inspection of a train before
clearing it for a long-distance jour-
Business Today 6 August 2023
ney may involve manually inspecting
up to 5,000 parts. But new technolo-
gies can help in making this exercise
hassle-free. “In a trip inspection, you
can use multiple cameras on a sta-
tionary locomotive to do its 360-de-
gree scan before deployment. It is
now possible to put multiple cameras
on a moving trolley to actually cap-
ture any anomaly on the track. For
OHE, it is possible to mount machine
vision cameras on a tower wagon
to check if everything is fine,” says
Bharat Salhotra, Co-founder & Presi-
| 29
dent of deep tech firm Insightzz.
“Deployment of AI-based solutions
can help in improving safety as well
as the asset’s uptime.”
But that won’t happen unless an
enabling ecosystem taking care of
not just making products in India but
also maintaining them locally gets
created. “It’s a huge opportunity. We
find so many engineers working in
fintech or AI/ML across different sec-
tors. But then how many of them are
actually working in the railway sec-
tor? Let’s get some of them to work on
developing solutions for the Indian
Railways,” says the OEM head.
With the railways’ targets for pas-
sengers and freight carriage going
up with each passing year, the two
aspects of safety and higher passen-
ger and freight loads often work at
cross-purposes. It will, therefore, be
imperative to support the resulting
increase in capacity with innovative
technologies.
@manishpant22
 ZEE

On Borrowed Time
It’s back to Sebi for the
ZEEL promoters. How long
it takes them to get closure
on a host of serious issues is
anyone’s guess now
BY KRISHNA GOPALAN

PHOTO BY HARDIK CHHABRA

X THE BEST THING that Subhash Chandra,
Chairman Emeritus of Zee Entertainment
Enterprises Limited (ZEEL), and Punit
Goenka, MD & CEO, could have hoped for
was a stay by the Securities Appellate Tribu-
nal (SAT) on a hugely damaging interim or-
der from the Securities and Exchange Board
of India (Sebi)—that has barred them from
30 | holding directorships in listed entities. The
markets regulator has charged them with having abused
their board positions at ZEEL to siphon off funds from
the company and violating various Sebi norms.
The tribunal, however, stated that it did not find any
reason “to interfere in the impugned order at this stage”
apart from pointing out that the contention made by the
promoters—that there was no basis for Sebi passing the
order—was erroneous. A statement from Zee put out on
July 17 said, “Since the order restricts Punit Goenka from
holding the position as director or key managerial posi-
tion in a listed company, the board of
the company has constituted an inter-
im committee of senior executives to THE ZEEL BOARD
ensure smooth operations of the com- HAS SET UP A
pany. This will be under the supervision
of the board and seek its guidance on all
COMMITTEE
matters pertaining to the company.” TO RUN THE
The tribunal asked the promoters to COMPANY’S DAY-
er courts. Ashish Kumar Singh, Managing Partner at law
firm Capstone Legal, maintains that appellate tribunals
are generally reluctant to interfere with interim orders.
“It may have been a reason for SAT passing the order.
That said, no stay being granted on the interim order in
itself is a major setback.”
As things stand, with SAT refusing any relief, Chandra
and Goenka may first have to get the response to Sebi out
of the way. “Now, it is completely between the regulator,
Subhash Chandra and Punit Goenka. Approaching the
high court or Supreme Court is
unlikely, as complex issues related
to facts are involved,” Kumar says.
ZEEL’s functioning may not be
affected. As for the merger, it has
already received approvals from
the stock exchanges, Competition
Commission of India and Sebi,

TO-DAY AFFAIRS
prove that the funds ZEEL gave to relat-
ed entities were for valid considerations
and there was no round-tripping; it has
given them two weeks to file objections to the Sebi order.
This comes at a time when ZEEL and Sony Pictures
Network India (now Culver Max Entertainment) are
heading for a merger. But the deal’s fate could be hanging
by a thread, as Sony issued a statement that it was moni-
toring all the developments that may affect the deal.
Consequently, all eyes are on the promoters’ next
move since they have the option of approaching the high-
while the National Company Law
Tribunal (NCLT) has reserved its
order. “The proposed Zee-Sony
merger is an independent transaction and NCLT reserv-
ing its order is a regular practice since more detailed
judgements can be passed,” explains Kumar.
The issue now boils down to what the promoters de-
cide and how they proceed. In that, nothing is more im-
portant than the flow of time.
@krishnagopalan

Business Today 6 August 2023

 FOCUS
SUSTAINABILITY

 




   
   
 

  
In today’s business landscape, companies are increasingly recognizing the significance of environmental, social, and governance (ESG) prac-
tices. Bharat Forge, a prominent player in India’s manufacturing industry, has emerged as a leader in prioritizing ESG initiatives and driving
sustainable business practices. With a holistic approach to ESG, the Company is actively contributing to a healthier planet and setting new
benchmarks for long-term success under their PLANET POSITIVE initiative.
Renewable Energy as the prime source: Bharat Forge places environmental
stewardship at the forefront of its ESG commitment. By 2030, the company aims to
achieve 80% renewable energy consumption, demonstrating its transition towards
cleaner and sustainable energy sources. Additionally, the Company strives for a 60%
reduction in energy intensity to demonstrate their commitment towards resource
efficiency.

Water management: The company has a steadfast focus on water conservation,

aiming for a 40% reduction in freshwater consumption and enhancing the recycled
water to 60% by 2030. Aspiring to become water positive, Bharat Forge showcases its
determination to safeguard this invaluable resource for future generations.

Waste Management and Circular Economy: Management of waste by 3R (reduce,

reuse and recycle) principle to reduce the environmental footprint is of paramount focus
for Bharat Forge. The company has set an ambitious target of zero waste to landfill by
2030. Bharat Forge aims to achieve a 50% reduction in waste intensity and increase the
use of secondary raw materials by 50% by 2030. These initiatives reflect the company’s
commitment towards responsible production and resource optimization.
Employee Well-being and Engagement: Bharat Forge prioritizes employee
well-being and engagement, making it an employee-friendly organization that
continuously strives to unlock the potential of its workforce. The company fosters a
positive and inclusive work environment, creating opportunities for employees to
learn new skills and upgrade themselves. Talent development programs are conducted
through collaborations with multiple educational institutions, to nurture the growth
of the employees.
With a strong focus on employee engagement, Bharat Forge sets a target of achieving
a score of more than 75% in employee engagement to ensure that its workforce
is engaged, motivated, and empowered to contribute their best. Recognizing the
importance of health and safety of employees, the company aims to achieve a
reduction of 75% in the lost time incidents frequency rate (LTIFR). This commitment
underscores Bharat Forge’s dedication to creating a safe and secure work environment
for its employees, promoting their overall well-being.
Gender Equality, Diversity, and Supply Chain Engagement: Promoting gender
equality and diversity is a key focus for Bharat Forge. The company aspires to have
20% women in managerial and leadership positions, actively working towards gender
balance and equal opportunities for career growth. Bharat Forge also encourages
ESG practices among its suppliers and aims for 50% renewable energy use by its top
suppliers. By fostering a diverse and inclusive ecosystem, the company aims to drive
positive change within and beyond its operations.
Community Impact and Education: Recognizing its role as a corporate citizen, Bharat
Forge undertakes initiatives to positively impact local communities. The company plans
to create 100 green villages by 2030, contributing to sustainable development in rural
areas. Additionally, by planting 1 million saplings by 2030, Bharat Forge aims to combat
deforestation, promote biodiversity conservation and contribute in reducing GHG
emissions. The company also invests in education and skill development, empowering
future generations through quality education and vocational training.
Governance and Ethics: Governance forms the cornerstone of Bharat Forge’s ESG
strategy. The company is fully committed to maintaining the highest standards of
governance, ensuring transparency, accountability, and ethical conduct throughout
its operations. With a target of 100% compliance with ESG practices, Bharat Forge
emphasizes data privacy management, robust business ethics policies, and employee
training on business ethics.
In total, Bharat Forge’s comprehensive ESG commitments align with 11 out of the
17 United Nations Sustainable Development Goals (SDGs), showcasing its holistic
approach to sustainability. By setting ambitious targets and actively pursuing ESG
initiatives, Bharat Forge is leading the way in sustainable business practices. The
company’s dedication to environmental protection, social progress, and effective
governance not only contributes to a better world but also strengthens its position as a
trusted and responsible global leader in the manufacturing industry.
 TELECOM
Logging
into Bharat
With the launch of its new feature phone, Reliance
Jio hopes to make the most from the transition of
2G feature phone users to 4G services
BY KRISHNA GOPALAN
X INDIA’S LARGEST TELECOM op-
erator Reliance Jio Infocomm has
launched the Jio Bharat V2 phone
at `999, which the company claims
is the lowest priced internet-en-
abled phone. It can be bought with
a monthly plan of `123 (apart from
the `999 for the phone), where cus-
32 | tomers get unlimited voice calls
and 14 GB data every month.
This comes after Mukesh Am-
bani, Chairman & MD of Reliance
Industries, had launched the Jio-
Phone with 4G-enabled features in
July 2017. After disrupting the voice
and data market in 2016, this was
the next salvo from the petrochem-
icals-to-telecom conglomerate. At a
price of just `1,500 (to be refunded
over three years), the phone was
eminently attractive as an inexpen-
sive internet-enabled phone. That’s
not all, as the 2018 annual general
FEATURE PHONE
USERS HAVE
NOT MOVED TO
4G-ENABLED
DEVICES DUE TO A
STEEP LEARNING
CURVE AND
HIGH COST OF
OWNERSHIP
BRIDGING THE GAP
By acting as a middle ground
between a 2G feature phone,
a smartphone, and 4G the Jio
Bharat phone expects to bridge
the digital divide in India
Business Today 6 August 2023
meeting saw the JioPhone 2 being
launched at `2,999. Ambani had
also revealed the sales of 25 million
JioPhone units by then.
Tarun Pathak, Research Direc-
tor-Devices and Ecosystems at
Counterpoint Technology Market
Research, believes the strategy
behind the launch of the JioPhone
between 2017 and 2018, compared
to what we see now is very differ-
ent. “JioPhone was aimed at de-
mocratising internet usage and 4G
adoption in India and it helped [the
company] in gaining a foothold by
selling more than 100 million units
so far,” he says. “The goal of Jio
Bharat is to shift the 250 million-
plus feature phone users, which
still remains elusive to the internet
economy, to a 4G device.”
The transition to a smartphone
has not taken place for this seg-
ment of users due to a steep learn-
ing curve and the high cost of
ownership. “Jio Bharat wants to
bridge that gap by acting as a mid-
dle ground between a 2G feature
phone, a smartphone, and 4G. This
device can help users experience
key services like digital payments,
content, and more for the first time
through Jio’s ecosystem,” he ex-
plains. A statement from the com-
pany said the launch of Jio Bharat
will mark the beginning of digital
freedom for the 250 million feature
phone users in India and help to
bridge the digital divide.
How much impact the new prod-
uct makes is difficult to estimate
right now. “The disruption with Jio
Bharat might not be as sudden and
vast as it was with the JioPhone in
2018, due to a different strategy, and
vastly different market scenario
now. But, some 2G feature phone
users from competition might move
to Jio’s 4G network,” says Pathak.
Quite clearly, Jio is playing the
long game as it looks to make the
most of the untapped user base.
@krishnagopalan
Turn to page 88 for a related story
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