NSE and Zomato Partner to Boost Financial Literacy Among Delivery Partners

Key Takeaways from the Partnership

• NSE and Zomato’s MOU will bring financial literacy to over 50,000 Zomato delivery partners.
• The program covers vital topics like budgeting, saving, investing, and debt management, supporting gig workers’ financial independence.
• Sessions will be delivered in regional languages, ensuring inclusivity and accessibility.
• The initiative has already reached 2,000 Zomato delivery partners, with plans for expansion in the coming months.

This collaboration is set to impact over 50,000 gig workers across India, aiming to foster financial empowerment, independence, and inclusion within the gig workforce. With a curriculum designed specifically for delivery partners, the program covers essential financial management topics, such as budgeting, saving, investing, debt management, and insurance.

In addition to imparting critical financial knowledge, the initiative focuses on sustainable financial habits, enabling delivery partners to achieve long-term financial stability. The program will be available in multiple regional languages to ensure accessibility and inclusivity, catering to the diverse audience within Zomato’s gig workforce.

Commenting on the partnership, Sriram Krishnan, CBDO of NSE, stated, "This partnership with Zomato expands our financial literacy outreach to a crucial segment of the digital economy workforce. By empowering delivery partners with financial knowledge, we aim to enhance their financial independence and well-being."  

Speaking on the initiative, Rakesh Ranjan, CEO of Food Delivery at Zomato, said, "Our goal through this collaboration is to elevate financial literacy and overall well-being for our delivery partners. With over 2,000 partners already benefiting from financial literacy sessions, we look forward to scaling this initiative significantly in the coming months."

About National Stock Exchange of India Limited (NSE):  

NSE was founded in 1994 and is currently India's largest stock exchange by turnover and leader in electronic trading. NSE provides the scope of financial services, including exchange listings, trading, clearing, and settlement services. NSE has been credited with the technological innovation. To date, it is the world's largest derivatives exchange by trading volume, and it is ranked third in equity trades worldwide.

About Zomato Limited:  

Launched in 2010, Zomato Limited connects customers, restaurant partners, and delivery partners to address various needs. The company has enabled a platform whereby customers can search for restaurants, discover restaurants, read and write reviews, view and upload photos, order food for delivery, book tables, and make payments while dining out. Restaurant partners get industry-specific marketing tools for keeping in and attracting their customers, as well as a reliable last-mile delivery service. Additionally, it has Hyperpure-the complete procurement solution that provides high-quality ingredients and kitchen products for restaurants. It provides transparent and flexible earning opportunities for the delivery partners.

Key Takeaways from the Announcement

• ABB India has revamped its Faridabad facility, focusing on sustainability through renewable energy adoption and efficient waste management, achieving IGBC’s ‘Platinum Level Green Factory Buildings’ certification.
• The facility now produces advanced IE3 and IE4 motors and specialised motors, supporting ABB’s push for energy-efficient solutions across industries.
• The Faridabad unit has diverted nearly 99% of waste from landfills, in line with ABB’s long-term sustainability commitment to achieve zero waste to landfill.

The revamped 36,000-square-meter manufacturing unit includes new shop floors and has integrated renewable energy, such as in-house solar power generation (180 MWh in 2023), achieving significant progress towards ABB’s RE100 commitment to eliminate Scope 2 greenhouse gas (GHG) emissions. Known for producing high-efficiency IE3 and IE4 motors and specialised products like flameproof, crane duty, and brake motors, ABB's Faridabad facility is crucial for India's industries across various sectors.

The facility’s focus on environmentally friendly practices has earned it the prestigious ‘Platinum level Green Factory Buildings’ certification from the Indian Green Building Council (IGBC). Moreover, nearly 99% of waste generated is diverted from landfills, aligning with ABB’s vision for zero waste. This expansion demonstrates ABB's commitment to local manufacturing and India’s “Made in India” initiative, reducing reliance on imports and increasing exports. The enhancements align with ABB’s larger sustainability goals to create a competitive, globally-oriented manufacturing hub in India.

Sanjeev Arora, President of ABB India’s Motion Business, highlighted the significance of the upgrade, stating, "Our ongoing investments in sustainable, energy-efficient solutions enhance safety, meet evolving customer needs, and strengthen our local supply base.” ABB India is also exploring opportunities in sectors like data centres, pharmaceuticals, and bioethanol, using digitalisation and automation to improve productivity, cost-efficiency, and operational performance.

About ABB Motion  

ABB Motion, a global leader in motors and drives, is focused on driving productivity and sustainability with innovative, energy-efficient solutions. With over 22,000 employees across 100 countries, ABB Motion supports clients in achieving optimal performance and safety through digitally enabled drives and motor solutions.

About ABB  

ABB is one of the leaders in power and automation technologies and helps industries to use intelligent technology to enhance performance, productivity, and sustainability. ABB will use over 140 years of engineering know-how and a powerful workforce of more than 105,000 employees in every corner of this globe to create a future that is sustainable and resource-efficient through advanced digitalisation and automation solutions.

Key Takeaways from the Announcement

• EaseMyTrip has been recognised by GoGlobal of the IATA set at a pace to go about making easier global operations with a basis for further expansion abroad.
• EaseMyTrip's Going Global Status is an avenue that separates it as a pioneering status through operational excellence, with stringent global standards required by IATA.
• EaseMyTrip, through this, is poised at a rapid scale of expansion in various countries with its offices set up around the world in strategic locations.

The GoGlobal certification elevates EaseMyTrip from IATA’s GoStandard model, setting it apart as a key player in India with the capability to expand into new international markets.

Commenting on the accreditation, Mr. Rikant Pittie, Co-Founder of EaseMyTrip, said, “Achieving the GoGlobal accreditation is a landmark that unlocks new possibilities for our international expansion. It symbolises our growth beyond national borders and reinforces the trust that our partners and customers place in us. Partnering with IATA on this journey highlights the strength of our collaboration, and we look forward to expanding our presence across multiple geographies while continuing to deliver exceptional travel experiences on a global scale. Our international offices provide us the foundation to scale up rapidly, and we take immense pride in this achievement.”

Speaking on the announcement, Juan Antonio Rodriguez, IATA’s Director of Financial Settlement Operations, congratulated EaseMyTrip, stating that the GoGlobal certification would enable more streamlined partnerships with airlines, benefiting EaseMyTrip’s growth around the globe. 

About EaseMyTrip  

Founded in 2008 and listed on NSE and BSE, EaseMyTrip is one of India's largest online travel platforms specialising in air tickets, hotel bookings, holiday packages, rail and bus tickets and other value-added travel services. It offers a unique zero-convenience fee option and access to over 400 airlines and 2+ million hotels globally, with a growing network of offices across India and internationally.

About IATA  

The International Air Transport Association (IATA) represents over 330 airlines, covering more than 80% of global air traffic. It provides a unified voice for the airline industry, setting global standards for airline operations and safety.

Key Takeaways from Servotech Order Win:

• Servotech Power Systems has secured a 2 MW On-Grid Solar Power Plant order from UPNEDA.
• The scope of work includes design, supply, installation, testing, and commissioning of the plant, with a 5-year warranty maintenance.
• The project involves deploying 11 to 100 kW solar installations at 67 strategic locations across Uttar Pradesh.
• This order supports Servotech's commitment to providing clean, reliable, and affordable energy, contributing to the state's renewable energy and energy security goals.

Under this contract, Servotech will be responsible for the design, supply, installation, testing, and commissioning of the solar power plant. The project will also include comprehensive warranty maintenance for the next five years. 

The solar installations, ranging from 11 to 100 kW, will be deployed at 67 strategic locations across Uttar Pradesh, contributing to the state’s renewable energy targets.

This project aligns with Servotech’s vision of promoting clean, reliable, and affordable energy, contributing to both the state’s environmental and energy security goals. 

About Servotech Power Systems Limited:

Servotech Power Systems Limited is a publicly listed company on the NSE, specialising in tech-enabled EV charging solutions. With over 20 years of expertise in electronics, Servotech offers a wide range of AC and DC chargers compatible with various electric vehicles, catering to both commercial and residential applications. The company is committed to playing a key role in the development of India’s EV infrastructure. Known for its strong nationwide presence and trusted brand reputation, Servotech has established a legacy of innovation and the advancement of cutting-edge technologies in the renewable energy and EV sectors.