Lokmat Media Group Chairman and former member of Rajya Sabha Vijay Darda's new book- Ringside: Up, Close & Personal on India & Beyond  is all set be released on Tuesday, 30 May 2023 at 4.30 pm in the speaker hall of the Constitution Club of India, New Delhi. 

Senior Congress leader and Lok Sabha MP Dr. Shashi Tharoor will release this book. Former media advisor to Prime Minister Dr. Manmohan Singh and former editor Sanjay Baru will also grace the program by being present in this dignified evening.

India Today Television's Consulting Editor and Padma Shri awardee senior journalist Rajdeep Sardesai will discuss his book with Vijay Darda during this programme.

An award-winning journalist, veteran parliamentarian, dynamic entrepreneur and compassionate philanthropist, Vijay Darda straddles several worlds of experience. Born on May 14, 1950 in Yavatmal (Maharashtra, India), his father and freedom fighter Jawaharlal Darda (Babuji), overwhelmed by the country’s independence, named him as ‘Vijay’, meaning victory. He wanted him to fight for the poor and downtrodden, lend voice to the voiceless and contribute to nation building. Darda was groomed as an all-rounder in his school days under the mentorship of Arun Halbe, recipient of the President’s Ideal Teacher Award. 

He developed a flair for painting and poetry, while excelling in hockey and table tennis. He further obtained his Diploma in Journalism and Printing Technology from Mumbai University and completed a Humanities Program on Religion, Conflict and Peace from Harvard University. Vijay Darda was awarded D.Litt. (Doctor of Literature) degree by internationally renowned D Y Patil University at the convocation of the university in Navi Mumbai on 28th March, 2023, at the hands of Maharashtra governor Ramesh Bais and chancellor of Dr D Y Patil University Dr Vijay Patil in the presence Maharashtra Chief Minister Eknath Shinde and dignitaries from all walks of life. He was conferred with the degree for his outstanding work across the fields of journalism, social work, education, politics, philanthropy for the betterment of society. 

Vijay Darda along with his brother Rajendra took up the reigns of Lokmat, a Marathi daily newspaper launched from Nagpur on December 15, 1971. They later introduced Lokmat Times (English) and Lokmat Samachar (Hindi), while ensuring the numero uno position of Lokmat among all Marathi dailies in India with 21.8 million readership. Today, under his chairmanship, it is a leading multi-platform media company with a diversified portfolio of publishing, broadcast, digital, entertainment, community and sports verticals. 

Darda has been conferred with several awards, including Feroze Gandhi Memorial Award (1990-91) presented by former Prime Minister P. V. Narasimha Rao. He headed media institutions like Indian Newspaper Society (INS), Audit Bureau of Circulation (ABC) and was the founder president of South Asian Editors Forum (SAEF). He also has many books to his credit and weekly columns published in various national and regional dailies since decades.

In a big relief to the print sector, the price of newsprint, which was a cause of worry the last financial year, has dropped by nearly 30%. Industry experts believe that it is the reduced global demand for the paper that has led to the reduction in price.

According to sources, the price of newsprint, which had touched an all-time high of $1000/tonne during the last financial year, has now come down to around $700.  

DB Corp Ltd, in its official statement during Q4, stated that newsprint prices continued its downward trend in Q4 FY 2023 aiding margins and is likely to bring higher benefit in the coming quarters.

“Newspaper newsprint prices, from a high of Rs 63,500/tonne in Q2 FY2023, have come down to Rs 60000/ tonne in Q4 FY2023. Our blended purchase price currently is around Rs 55000/tonne,” it said.

Speaking to exchange4media, Matrubhumi Group’s Managing Director Shreyams Kumar, said, “The reason for the prices coming down is lower consumption level across the globe due to Covid and it has not recovered fully since that time. But it is on the path to recovery.”

“I think the consumption of newsprint in India went down by 40% during Covid. The custom duty is the same but there are rumours that the government is planning to cut it down.”

Sharing a similar view, Amit Chopra, Joint MD, Punjab Kesari, said the price reduction is due to reduced global demand and improved logistic situation and it will improve profitability.

“The price reduction has been going on since mid-last year. The effect is a reduction in cost of printing and not an increase in revenue. Consequently, it will improve profitability.

“The price reduction is due to reduced global demand and improved logistic situation. Earlier the freight costs had gone through the roof due to covid disruptions. Customs duty remains the same. Dollar has only become more expensive since last year,” Chopra said.

Kumar, however, said, the effect of this price drop will be felt only in Q1 of the next financial year.

“Currently the price is 700 USD per tonne. Decreasing the cost of newsprint does not increase the revenue, it only brings down the printing cost. We normally import and keep a stock of newsprint.

“The prices have come down only during the last quarter so the effect of this price drop will show only in Q1 of the next financial year,” he said.

Disruption in the supply chain of newsprint due to the Russia-Ukraine war, compounded with a scarcity of waste paper used in recycling led to the prices going as high as $1000/tonne in 2022.

There has been a gradual dip in the prices from $1000 to $850-900 and now $700.

However, Varghese Chandy, Vice President, Marketing and Sales, Malayala Manorama, had a different take on the scenario.

He said in the last four-five years, the cost of newsprint has gone up by nearly 90% and with dollar exchange right hitting the roof, reduction in newsprint price is not in sight.

“It was as high as $1050 per tonne last year and it is only $900 now. In the last four to five years, the price of newsprint has significantly gone up by around 90%. There is no way that the cost is coming down. It is still very high.

“Dollar exchange rate has also gone up considerably. I don’t think newspapers have surplus funds. No question of the newsprint price coming down,” he said.

According to sources, the cost of newsprint is expected to go down further by October this year to even $600/tonne.

Chopra said that Punjab Kesari, which consumes about 30-32000 tonnes of newsprint every year, will pass on the benefit of reduction to readers by reducing cover price by a rupee.

“High newsprint prices resulted in hiking of cover prices. Punjab Kesari group is passing on the benefit of reduction to readers by reducing cover price on some days by a rupee from 5 to Rs 4,” he told exchange4media.

According to industry players, the top price for newsprint for 2022 was $1000/tonne, up from $450/tonne in Jan-March 2021.

The Times Group assets underwent an elaborate evaluation process about a year ago, but due to the complexities involved in the media conglomerate worth hundreds of crores, brothers Samir Jain and Vineet Jain reportedly couldn't reach a consensus despite multiple rounds of talks. That was the time when they decided to rope in mediators, who didn’t only enjoy the trust of the family but also have skills to manage a smooth split for the Times Group which is a web of around 70 entities, including the most complex one-Times Internet Ltd (TIL), sources told e4m. 

Two top business leaders who were roped for this massive task were-Sunil Bharti Mittal, the billionaire chairman of India’s leading telecom operator Bharti Airtel, and Gaurav Dalmia, Chairman of the Dalmia group Holdings and Landmark Group holdings. Incidentally, Dalmia family owned the BCCL in the 1950s before handing the company over to Jains. 

While Dalmia (57) is part of the family-owned business and a noted private equity and real estate investor, Mittal (66) is a first-generation entrepreneur. Both are among India’s wealthiest persons with businesses spread across the  world. 

“Mittal and Dalmia then oversaw the entire negotiations and mediation process. With their meticulous  business acumen, the duo was able to help Samir Jain and Vineet Jain to adjust here and there for larger gains and an amicable solution,” insiders claimed. 

The two were present with Jain brothers at the latter’s Delhi bungalow on Thursday when the settlement issue was resolved and a memorandum of understanding (MoU) was signed. 

“Smaller assets of the group have been fully settled, while the settlement of a few larger assets are being fine-tuned. Once it finishes, it would be clear how much cash payout Samir Jain needs to give to Vineet Jain,” a highly placed source told e4m, requesting anonymity. It is believed that the cash component could be in the range of Rs 3,500 crore to Rs 5,000 crore. 

It is said that Samir Jain has started looking for investors as well. “One of the two mediators might extend his helping hand to Samir Jain,” an insider said. 

Sources further said that top law firm Khaitan & Co is taking care of the legal technicalities of the partition. 

Does Vineet Jain’s new profile pic posted on Sunday signal’s new beginning? 

In the recent issue of BW Businessworld releasing on June 3, 2023, takes a tour of India’s largest dairy processor and well-renowned household name, Amul. It explores the inflection point of Amul as it carries out its non-dairy food segment and is expected to generate a revenue up to Rs 1,00,000. To understand the vitality of the situation and the growth forward, BW Businessworld team travelled to the Milk Capital of India, Anand which is a home to the Gujarat Co-operative Milk Marketing Federation (GCMMF).

A Movement Of Exclusiveness

In an exclusive conversation with BW Businessworld, Jayen Mehta, the newly appointed managing director of Amul throws light on why the targeted revenue does not seem daunting for the brand. He further explains that since the dairy sector is swiftly becoming more organised, a shift towards the non-dairy food segment is likely to accelerate as consumers today are more health conscious, especially the younger generation. However, beyond the dairy sector, there is an inflection point for Amul as it now seeks to turn into an all-foods company. The various product launches in the past three years in the non-dairy segment and the expansion it reflected, Mehta seems optimistic about Indian consumers’ kitchen items to soon be of the brand, Amul, be it either organic or dairy products.

The latest issue also presents Amul’s past attempts to expand beyond dairy and value-added dairy products and how they collapsed to make a mark in the market. In this issue, BW Businessworld comes across understanding of what will be different this time and what shall we expect from Amul in the near future.

Largely, this issue also explores India’s substantial milk economy dynamic and the government’s thrust to boost milk production and whether it will bring a second White Revolution.

Summer Special Spin-off

The recent issue ‘The Summer Kings’, showcases a special feature on the summer season. We engaged with R.K. Singh, Union Minister of Power, New and Renewable Energy, to take stock of India’s preparation to address the rising demand of power this season. For the same, Singh highlights that the growing power demand is the definite indicator of India’s economic growth.

Nonetheless, the issue also features a rapid growth of sunscreens in the Indian market in this scorching heat of the summer, and how new-age brands have been drawn towards the sun protection market as it has become one of the highest and fastest growing in the skincare segment in the country.    

The issue also focuses upon the Indian meteorological department, predicting a hot and oppressive summer to which the team of BW Businessworld spoke to some of India’s biggest air conditioner manufacturers. B. Thiagarajan of Blue Star, Kanwal Jeet Jawa of Daikin, Manish Sharma of Panasonic Life Solutions India, among others, shares their plans to address consumer demand and their marketing playbook to reach out to them. A much weightage is given into smart solutions using AI and IoT based platform to offer comfort and convenience to its customers. 

In addition, this issue captures focus on sustainable architecture as sustainability has become central to everyone today. Special attention has been given to sustainable architecture to understand the practicalities of developing sustainable buildings in India.

Moreover, the latest issue also gives a special focus on building resilience in the era of uncertainty by Tiger Tyagarajan, President & CEO of Genpact, in its ‘Last Word’ column, aiming at what business leaders today need to concentrate on to navigate the current economic challenges. 

Click here to view the entire story of BW Businessworld on ‘India’s Best Kept FMCG Secret’ with Amul along with an additional summer special spin-off.

About BW Businessworld 

BW Businessworld, with its 43 years of legacy, is the fastest growing 360 degree business media house in India. With a network spanning across 23 niche business communities and 10 magazines, BW Businessworld is proud to be entrenched in various verticals in the domestic as well as global business, that organize conferences and forums to facilitate interaction between sectoral business leaders and create a conducive environment for collaboration. All BW issues are also fully digitally covered, including online stories and video stories and eMagazine is also available for every issue.

A day after the media reported details of Samir Jain and Vineet Jain splitting the Times Group business, the group released a statement internally to its key management calling the speculations incorrect.

The communication from BCCL’s Company Secretary Kausik Nath read: “As the KMP of the company, it is my duty to inform that employees should not go by speculation in the media about the reorganization of the company. Please be notified that social media has been speculative and incorrect.”

As per media reports, Samir Jain is likely to get hold of the entire Print businesses of the conglomerate and Vineet Jain is expected to occupy Broadcast, Radio Mirchi, Entertainment (ENIL), and other businesses.

Vineet Jain, the younger of the Jain brothers who inherited the Times Group after the death of their mother Indu Jain, will now be handling the TV, digital and entertainment business of the media conglomerate.

Born in Kolkata in 1964 to Ashok and Indu Jain, the 59-year-old Vineet joined the Times Group in 1987, more than a decade after his elder brother Samir Jain entered the business.

A graduate of the American College of Switzerland, Vineet was soon the Managing Director of  Bennett, Coleman & CO, which was at that time being run by his father Ashok Jain and brother Samir, who was the Vice Chairman of the company.

Vineet has been the driving force behind the diversification and expansion of what began as a traditional publishing business under the flagship Times of India. Under his vision and leadership, the Times Group expanded its wings across the media spectrum – be it internet, radio, music, news television, OTT,  or out-of-home.

He was named Impact Person of the Year in 2013.

With this development, after 36 years of his stint as the MD of Times Group, Vineet will occupy Broadcast, Radio Mirchi, Entertainment (ENIL), and other businesses such as Filmfare, Femina, their event IPs along with their respective online editions (clubbed under Times Internet Ltd).

Vineet will also retain ET Money and the OTT platform MX Player, broadcast, digital and entertainment part of the business. 

His elder brother Samir holds the entire Print business of the conglomerate like Times of India, Economic Times, and language papers like Navbharat Times and Vijay Karnataka along with their online editions.