Backed by government initiatives like the Production-linked Incentive (PLI) program, India aims to emerge as a global drone manufacturing hub by 2030. Agriculture drones, a key segment of this industry, promise to transform farming practices, offering real-time insights into soil health, crop conditions, and water management. By optimizing resource allocation and enabling targeted interventions, drones not only enhance yield but also mitigate environmental impact. Early pest and disease detection further reduces reliance on harmful chemicals, fostering sustainable agriculture. The Indian agriculture drone market is set to skyrocket, with projections indicating a quadruple expansion over the next five years. With applications ranging from soil analysis to livestock monitoring, drones are becoming indispensable tools for modern farmers. Government schemes like ‘Drone Didi’ and subsidies for nano soil nutrient spraying underscore the commitment to harnessing drone technology for agricultural prosperity. As drones take flight, they pave the way for a greener, more bountiful future for Indian agriculture. Image Credit: Shutterstock The India’s agricultural sector, comprising approximately 18% of India’s Gross Value Added (GVA) in fiscal year 2024, serves as the foundation for the nation’s economy. Despite grappling with challenges arising from the global health crisis and fluctuating climate conditions, the sector has showcased remarkable resilience and determination, playing a crucial role in India’s economic resurgence and progress. Drones have been considered to be part of the Industry 4.0 ecosystem in India, and are expected to boost the country’s GDP by 1-1.5% and add over 5 lakh jobs in the coming years. The Indian government has been actively fostering the manufacturing of drones and drone components through a range of policies and initiatives, including the Production-linked Incentive (PLI) program. This strategic endeavour aims to transform India into a worldwide hub for drones by the year 2030. Drones hold immense potential to revolutionize Indian agriculture, fostering sustainability, profitability, and environmental stewardship. By providing real-time data on soil health, crop conditions, and water usage, drones enable precise resource management, reducing input costs and environmental impact. Targeted interventions based on aerial imagery enhance yield potential while minimizing waste, making agriculture more financially lucrative. Additionally, drones facilitate early detection of pests and diseases, enabling timely intervention and reducing reliance on chemical pesticides. This holistic approach promotes sustainable farming practices, ensuring long-term viability for Indian agriculture while safeguarding the environment and maximizing economic returns. According to the industry estimates, currently over 3,000 drones are being utilised in the Indian agriculture sector, which is expected to rise over 7,000 by FY25. This would further support crop productivity through optimum use of water, soil nutrients and crop protection formulations. Backed by various policies by the government to support technologies for farmers, drone manufacturers foresee an exponential rise in demand for Unmanned Aerial Vehicles (UAV) in the upcoming years. India’s agriculture drone market The drone manufacturing industry in India is projected to grow from Rs 60 crore in 2020-21 to Rs 900 crore by 2024-25. With regard to the Agriculture drones market, India is expected to experience a quadruple expansion during the period, according to Bluewave Consulting. According to Frost and Sullivan, drone adoption in India’s agriculture sector is expected to grow at a CAGR of 38.5% and reach US$ 121.43 million by 2030, accounting for 2% of all expenditures on agricultural machinery. Gradually becoming an integral part of the farming process, drones offer solutions for precision agriculture, crop monitoring and input management. Here are some of the most promising drone applications in agriculture: Soil and field analysis: Drones with remote sensing technology use electromagnetic spectrum cameras to gather ground data, distinguishing elements by their reflected wavelengths. This enables drones monitor aspects like insect damage, pest related color changes, vegetation etc. Seed Planting: Drones equipped with specialized containers featuring controlled dispersal mechanisms can efficiently sow seeds, ensuring precise release from the air to the ground. Moreover, these drone systems have the capability to shoot seed pods, along with vital plant nutrients, directly into well-prepared soil, thus significantly reducing planting time. Crop spraying: Drones play a crucial role in safeguarding crop health by efficiently applying pesticides and herbicides. Equipped with reservoirs holding these substances, they utilize advanced technology like TOF lasers, ultrasonic echoes, and GNSS signals to precisely adjust their speed and altitude, ensuring accurate spraying across various terrains. Crop Monitoring: Drones swiftly capture large farm areas, aiding farmers in health assessment, issue identification and data-driven decisions on fertilization, pest control and irrigation. Moreover, advanced sensor-equipped drones provide precise soil information, optimizing input use and reducing waste. Livestock Monitoring: Livestock technology, like RFID tags and remote sensors, automates continuous monitoring by collecting physiological or behavioral data and alerting about any irregularities. Compared to manual methods, it provides more detailed information. Drones equipped with RFID tags can precisely locate individual animals, simplifying supervision for farmers and reducing the reliance on specialized personnel, resulting in cost savings. The evolving agriculture drones market The Government of India is consistently supporting the agricultural industry. The country witnessed total food grains production of 329.7 million tonnes for FY23, marking a rise of 14.1 million tonnes compared to the previous year. For the same, an amount of Rs 6,405.55 crore has been allocated for agricultural mechanisation during the period from 2014-15 to December 2023. From the funds of Sub-Mission on Agricultural Mechanization (SMAM), an amount of Rs 141.41 crores have been released towards Kisan drone promotion which includes purchase of 317 drones for their demonstration in 79,070 hectares of land and supply of 527 drones to the farmers on subsidy. The government sanctioned a central sector scheme, known as ‘Drone Didi’, allocating 15,000 drones to women self-help groups (SHGs) in specified clusters, last year. The scheme, spanning from 2024-25 to 2025-26, has a budget of Rs. 1,261 crore. The Centre will offer 80% assistance, capped at Rs. 8 lakh per SHG, to cover the drones’ costs and accessories. To encourage the adoption of nano urea and di-ammonium phosphate (DAP), prominent fertilizer cooperative IFFCO announced in July 2023 its plan to procure 2500 drones for spraying nano soil nutrients. Additionally, the cooperative is
Acing competitive exams with conversational AI
In the second edition of our ‘Tech Trailblazers’ series, we engaged with Ms. Addya Rai, co-founder and Chief Operating Officer of PAiGPT. She has a diverse portfolio of accomplishments, including her role as the founder of Sadhya The Absolute Aim and her dedication as a UPSC mentor and educator. Her passion for education shines through, guiding aspirants towards success in competitive exams. In this discussion, we delved into a thought-provoking dialogue on the future of PAiGPT and its potential to revolutionise education and learning experiences. Join us as we explore Ms. Rai’s vision for PAiGPT and her invaluable perspectives on the evolution of the ed-tech industry in India. IBT: Could you share the inspiration behind founding PAiGPT and your vision for its future growth? Addya Rai: After my graduation from LSR, I went for UPSC prep as an aspirant, where I cleared a few government exams and went up to the final stages of a few, but couldn’t crack UPSC (the biggest heartbreak ever). After this, I started teaching for UPSC & other government exams. During this journey, I had the opportunity to work with reputed edtech companies like Unacademy, Civilsdaily IAS, Adda247, Disha Publications, etc. In the span of 8-10 years, I became very well aware of the learning gaps of aspirants and their pain problems. Somehow, it was very clearly known that those problems couldn’t be resolved manually. The only way to resolve it was through technology and innovation, and that’s why we tried to bring PAiGPT as the tech solution and as the AI solution for students. And from there, only I gained my aspiration. Talking about the vision of the company, we say that we always admire the connection between hard work and smart work. We always wanted aspirants and students to combine their hard work with their smart work. And for that, only we brought PAiGPT, where their preparation strategies and their aspirations could be manyfold. And those cycles in which they are getting stuck can easily be solved through that. Our vision is to build dedicated LLM models for edtech, healthcare, legal, fintech, and agriculture. IBT: As the co-founder and COO of PAiGPT, what specific goals or objectives do you aim to achieve in the realm of education through your innovative solutions? Addya Rai: Being the co-founder and CEO of the company, we are committed to transforming the education landscape in India via innovative solutions based on GenAI by providing real time answers to queries. As we can see, AI is in many realms, into teaching, into graphics, into video. But this time we are bringing AI into the education landscape. I can say very few, or maybe one or two companies, are there in the educational landscape of AI, but through generative AI, we are trying to provide real time solutions to aspirants and students across India. And what we are providing them is that they can generate their queries anytime and get a real time answer to them. Not only this, but they can get personalised learning support from this app, their lifestyle management. And thirdly, this model is very, very cost effective and affordable for them. Other companies are charging approximately 1800 rupees per month or something like that. Our model is very affordable, and we ensure to bring it to every student or aspirant sitting in every corner of our country. IBT: Considering your background as an educator and mentor, how does PAiGPT contribute to educational advancements, and what role do you envision it playing in revolutionising the education sector? Addya Rai: PAiGPT is a technology designed to enhance educational advancements. It provides a balanced approach to learning by utilising laptops and mobile devices that students already use in their daily lives. This technology allows students to focus on their learning pathways and avoid social media distractions. Additionally, PAiGPT is revolutionising education by making quality learning opportunities available to everyone, regardless of their location or financial situation. With PAiGPT, students can interact with the technology by uploading any text image, and they can interact through images. They can get the synopsis of that image, get real-time answers, generate MCQs, and access past year questions. Students can use PaiGPT on their smartphones, providing them with the space to study and solve questions related to their chosen subjects. This technology is designed to help students and aspirants achieve their learning goals more efficiently. Watch our detail interview here…. IBT: PAiGPT is positioned as an innovative company leveraging AI solutions. How does PAiGPT integrate AI technology into its educational offerings, and what benefits does this bring to students and educators alike? Addya Rai: PAiGPT is integrating AI technology into its educational services to revolutionise competitive exam preparation in India. The company offers real-time summaries of text-based images, real-time MCQs and PYQ generation, real-time mains model answers, time-saving solutions, lifestyle management, affordability, accessibility, and research on any topic. This technology is beneficial not only to aspirants but also to educators and mentors. The company aims to provide a solution for self-introspection and self-study, as many individuals struggle with limited time for self-study. Real-time summaries, MCQs, and PYQs are integrated into the platform, and the language used in the answers is considered a ground-breaking feature. The company has trained its technology on over 600 million tokens, demonstrating the potential of AI technology to transform competitive exam preparation. The company is committed to transforming the competitive exam preparation process in India. IBT: Given the evolving landscape of education technology, what are the key challenges PAiGPT faces, and how does the company plan to address these challenges to maintain its competitive edge? Addya Rai: The main challenge is maintaining the quality of content, as it is crucial for aspirants preparing for various exams such as SSC, banking, CUET, or UPSC. The company is working to provide the best content available, which is not available anywhere else. Secondly, what we encounter here is building the robust infrastructure behind the technology. And thirdly, handling the maximum number of users
Can Sodium-ion batteries challenge lithium’s EV dominance?
Sodium-ion batteries present a promising alternative to lithium-ion technology due to sodium’s abundance and cost-effectiveness, addressing concerns over resource depletion and price volatility. Despite their lower energy density, sodium-ion batteries offer safety advantages and suitability for specific applications such as stationary energy storage and medium to low-speed electric vehicles. As the sodium-ion battery industry matures, it is poised to contribute significantly to a more sustainable and resilient energy infrastructure, alongside promising technologies like solid-state batteries, lithium-sulfur batteries, and graphene. Source: Freepik Lithium-ion batteries are in heavy demand today, to operate everything from smartphones to electric vehicles. The global lithium-ion battery market size was US$ 45.7 billion in 2022 and is expected to register a revenue CAGR of 13.1% during the forecast period. The demand for lithium continues to rise, and with it comes a growing concern about resource depletion and price volatility, potentially impacting the overall cost of these batteries. But amidst their dominance, we also see some challengers emerging. Battery manufacturers are turning to alternative technologies, including sodium-ion batteries, to meet the growing demand for EV batteries. Companies like HiNa Battery Technology Co. in China and Northvolt AB in Sweden are investing in sodium-ion technology, and view it as a promising alternative for the battery market. “Sodium-ion batteries are a promising alternative due to several advantages like abundance and cost, safety, and similar power value however there are certain challenges like lower energy density (a significant one) and commercialisation of the technology,” says Dr. Rashi Gupta. She is a well known serial techpreneur, fondly known as “Batterywali of India”, and a pioneer in India in advanced lithium batteries. Sodium, a better alternative? Sodium, being the sixth most abundant element in the earth’s crust, reduces concerns about resource availability and price volatility associated with lithium. Moreover, these batteries can potentially reduce dependence on specific regions like China during the transition to green energy. This can also help reduce the impact of mining for lithium, cobalt, and aluminum that are used in LiBs. Sodium, widely distributed across the globe, serves as a plentiful resource in various geographical locations. According to BloombergNEF, sodium-ion batteries could cut around 272,000 tons of lithium demand by 2035, or more than a million tons, if the supplies can’t meet lithium usage demands. Na-batteries offer several advantages over their lithium-ion counterparts, like they can discharge power more quickly, making them ideal for delivering short bursts of intense energy. Moreover, sodium, the main raw material for sodium-ion batteries, is abundant and inexpensive compared to lithium. The market for sodium-ion batteries was only valued at US$ 1 billion in 2021. They are, however, gaining prominence as a potential alternative to lithium-ion batteries, mainly due to the abundance of sodium resources and their potential lower cost. Lithium batteries are usually comprised of a cathode made of lithium-cobalt oxide, an anode composed of graphite, and an electrolyte solution containing lithium salts. Their popularity stems from their high energy density and extended cycle life, rendering them appropriate for a range of uses. However, the environmental impact of lithium-ion batteries is complex, starting with issues arising from mining and extraction leading to habitat disruption and water pollution to improper disposal that pose further risks. The volatile electrolyte from the batteries can cause fires or explosions, especially under high temperatures. Globally, lithium-ion batteries are expected to generate 8 million tons of waste by September 2022, yet only 5% are currently being recycled. The rise of sodium-batteries One significant advantage of sodium-ion batteries is their safety profile. Unlike lithium-ion batteries, sodium-ion batteries are non-flammable, making them safer for use in various environments, making them suitable to be used in regions with high temperatures like India, the Middle East, and Africa. The concept of energy storage has propelled sodium-ion batteries into the spotlight, drawing interest from both the energy storage industry and investors. While research on sodium-ion batteries has been ongoing since the late 1970s, it wasn’t until the discovery of hard carbon anode materials in 2000 that significant progress was made toward commercialization. Manufacturing sodium-ion batteries is similar to lithium-ion batteries, with the main difference being the raw materials used. Despite their lower energy density, sodium-ion batteries are well-suited for medium and low-speed electric vehicles and large-scale energy storage applications. However, sodium-ion batteries have their limitations. They cannot match the energy density of lithium-ion batteries, which means they cannot store as much energy in the same space. This drawback makes them less suitable for applications where compact size is crucial, such as portable electronics. Yet, sodium-ion batteries excel in applications where size is less of a concern, such as stationary energy storage for solar power plants or grid support. Can sodium batteries replace lithium? As the sodium-ion battery industry matures and investments increase, these batteries are expected to become a cost-effective supplement to lithium-ion batteries, particularly in the field of fixed energy storage. This diversification of battery technologies could reduce dependence on lithium and alleviate pressure on supply chains, speeding the transition to green energy. “Replacing lithium-ion entirely might be unlikely in the near future. Lithium-ion still holds the upper hand in energy density, crucial for portable electronics, etc. however, sodium-ion is a strong contender for applications where high energy density is less critical, such as: Large-scale energy storage for grids and renewable energy integration, lower cost and good safety characteristics are more important than maximizing energy density per unit size. Stationary power tools where weight is less of a concern, and affordability and safety may become more attractive.” – Dr. Rashi added. Sodium-ion batteries have the potential to complement lithium-ion batteries, offering safety, affordability, and suitability for specific applications. With ongoing advancements in technology and manufacturing, sodium-ion batteries are poised to play a significant role in the future of energy storage, contributing to a more sustainable and resilient energy infrastructure. Alternate promising technologies Solid-state batteries offer the potential for higher energy density, faster charging, and improved safety, although widespread adoption requires significant research and development. Lithium-sulfur batteries have a much higher theoretical energy
Seizing the Green Opportunity: India’s Vegetable Export Outlook
India’s burgeoning vegetable export sector, reveals a fascinating narrative of growth and opportunity. Exports of vegetables from India have reached US$ 2.1 billion in 2023, marking a notable 20.5% year-on-year increase. The potential is undoubtedly bright, given India’s diverse agro-climatic zones and stature as the world’s second largest producer of vegetables. However, as we dive deeper, vegetable exports at present are far from performing according to their actual potential. This is due to several challenges, ranging from regulatory complexities to infrastructural limitations. Our research takes a deep dive at India’s export performance in this sector, how it is positioned in the international trade landscape, contributing products/markets, key challenges and way forward. India is a powerhouse in vegetable production due to several factors. Its diverse agro-climatic zones enable year-round cultivation of a wide variety of vegetables. Additionally, the country boasts a large agricultural workforce skilled in traditional farming methods alongside modern agricultural practices. India’s rich biodiversity also contributes to its vegetable diversity, with indigenous crops catering to domestic tastes and preferences. Furthermore, the government’s initiatives to promote agricultural exports and improve infrastructure, coupled with favorable trade policies, position India as a promising export destination for vegetables. India’s exports of vegetables (HS 07, edible vegetables and certain roots and tubers), reached a value of US$ 2.1 billion in 2023, an impressive YoY growth of 20.5%. On a 5-year basis, exports have grown at a CAGR of 8.45%, which makes this performance truly remarkable. On the other hand, processed vegetable exports have grown by 27.1% YoY to reach a value of US$ 596.11 million. In this analysis, we examine the key drivers of India’s growing vegetable exports and the future prospects. Production of vegetables India is the second largest* vegetable-growing country in the world and holds 10.6% share in world’s vegetable production. Its rich and diverse climate provides a large variety of vegetables. Vegetables produced in the country include potatoes, tomatoes, onions, eggplants, and cabbages among others. It is the largest producer of vegetables like ginger and okra and the second largest in the case of vegetables like potatoes, onions, cauliflowers, brinjal, and cabbages (APEDA). Major vegetable producing states (2022-23) in the country include Uttar Pradesh, West Bengal, Madhya Pradesh, Bihar, Gujarat, Maharashtra, and Odisha. According to the National Horticulture Database (1st Advance Estimates) published by National Horticulture Board for 2023-24, India has produced about 209.4 million metric tonnes of vegetables. The area under vegetable cultivation was about 11.24 million hectares. Furthermore, it estimates that there will be an increase in production of vegetables like cabbage, cauliflower, pumpkin, tapioca, tomato, and other vegetables. This large vegetable production base provides India, immense export opportunities. An interesting point to note is that the productivity of horticulture has increased impressively from 8.8 tonnes per hectare (TPH) in 2001-02 to 12.1 TPH in 2020-21, with production and acreage far better than foodgrain production since 2012-13. Global trade analysis The top 10 vegetable producing countries in the world are China, India, Nigeria, the Dominican Republic, the United States, Indonesia, Thailand, Ghana, Russia, and Turkey. While China produced over 616 million metric tons of vegetables in 2022, India produced about 138 million metric tons. Interestingly, China accounts for over 50% of the world’s fresh vegetable production. Global vegetable exports reached a value of US$ 84.9 billion in 2022, with a 4-year CAGR of 5% (ITC Trade Map). The top exporters were China (12%), Mexico (11%), Netherlands (10%), Spain (10%) and Canada (7%). Source: ITC Trade Map, figures in US$ billion for 2022 India’s rank in global exports was 13 with a value of US$ 1.7 billion (2% share) with a CAGR of 10% in 2022. In comparison to the top countries, this is lower than Australia (20%, #12), Turkey (18%, #9), Thailand (16%, #9) and Canada (11%, #5). When it comes to imports, the top markets are the US (16.7% share), Germany (8.2% share), the UK (4.9% share), France (4.5% share) and China (4.4% share). India was ranked 11th in imports with a value of US$ 1.9 billion (4-year CAGR of 16%). China is incidentally also the fastest growing import destination during the same period with a 4-year CAGR of 21%. Source: ITC Trade Map, figures in US$ billion for 2022 India’s vegetable trade basket Now we look at India’s latest export data and trends over the past 5 years. As mentioned earlier, India’s total fresh vegetable exports were valued at US$ 2.1 billion. The top export markets were Bangladesh (US$ 463.8%, ↑125.1% YoY), UAE (US$ 239.8 million, ↓ 5.1%), Malaysia (US$ 114.1 million, ↓5.4% YoY) Following is the break up of India’s top markets. Source: DGCIS figures for 2023 When it comes to products, the largest exported products are HS 0713 (Dried leguminous vegetables, US$ 704.5 million, ↑24.45% YoY); HS 0703 (onions, shallots, garlic…, US$ 670 million, ↑25.8% YoY); HS 0712 (dried vegetables, US$ 211.3 million, ↑1.8% YoY) and HS 0709 (other vegetables, fresh or chilled, US$ 157.4 million, ↑11.04% YoY). At the 8-digit level, the data reveals the predominance of onions (fresh, chilled or dried, 24.7%); lentils (mosur, 8%); kabuli chana (6.8%) potatoes (5.1%) and cucumbers & gherkins (4.4%). It is well known, however, that onion exports are subject to vagaries of production and government often has to intervene to keep prices in check. The most recent instance of this was December 2023. Even though the government has now removed the ban, it has imposed stringent conditions – a minimum export price of $550 per tonne as well as a 40% export duty. When you look at the global market dynamics, India’s top 10 markets are very different from the global top 10 import markets, with the exception of the US, China and the UK. Moreover, India’s share in the top products imported by the world is very low, as is visible in the table below: Top imported products globally in the fresh vegetables category Code Product label Value imported globally in 2022 (US$ mn) Annual growth in value between 2018-2022 (%, p.a.) India’s share of global
Unveiling the dynamics of India’s food packaging industry
India’s food packaging industry is undergoing a seismic shift, fueled by consumer demand for convenience, safety, and sustainability. With a projected global market expansion, the sector is witnessing exponential growth, driven by urbanization and evolving consumer lifestyles. This article delves into the dynamic landscape of India’s food packaging industry, exploring key trends and emerging technologies. From eco-friendly solutions to innovative packaging formats like pouches and containers, the industry is embracing transformative advancements. Challenges such as regulatory compliance and sustainability imperatives are met with strategic solutions, while industry insights provide valuable perspectives on navigating this evolving terrain. As India’s food packaging sector evolves, businesses have a prime opportunity to innovate and capture market share. By aligning with consumer preferences and embracing sustainability, players can drive economic growth and shape a more resilient future. Image Credit: Shutterstock The food packaging is a dynamic and fast growing sector. Consumer demand for convenience, food safety, hygiene, and sustainability, coupled with innovations in packaging technology, urbanization, and strict food safety regulations, are driving market growth of this industry. According to IMARC, the global food packaging market size was valued at US$ 385.1 billion in 2023 and is expected to reach US$ 611.6 billion by 2032, exhibiting a CAGR of 5.1% during 2024-2032. Jeevaraj Pillai, Director – Sustainability and President – Flexible Packaging business and New Product Development, UFlex Limited, comments, “The Indian packaging industry is witnessing a double-digit growth – fuelled by the growth in the FMCG sector.” Packaging is the only industry that is involved with every single product produced in an economy, and is a major contributor to industries like Food, Pharmaceutical, FMCG and Electronics. India’s Food and Beverage Packaging Market size is estimated to US$ 35.93 billion in 2024 and is projected to reach US$ 49.27 billion by 2029, growing at a CAGR of 6.52%. Source: Mordor Intelligence, Figures in US$ billion Types of Food Packaging in India The surge in India’s packaging demand is propelled by the surge in consumer markets, particularly in processed food, personal care, and pharmaceutical sectors. Factors such as increasing population, rising income levels, and evolving lifestyles are catalysts fueling consumption across diverse industries, thus amplifying the need for packaging solutions. Furthermore, rural appetite for packaged goods is heightened by increased media exposure through the internet and television, further highlighting the industry’s growth trajectory. In India, packaging can be classified based on its type of use, which is primary, secondary, tertiary, and ancillary packaging. It is also segregated based on the types of materials used, such as plastic, paper, paperboard, glass, and metals. Primary packaging: Primary packaging consists of products that come directly in contact with the actual product for example – food, accessories, clothing, gadgets etc. These products essentially include retail packaging, food packaging and void fill options. A few examples of primary packaging include: Laminated pouches Plastic containers Parchment paper Tin Can Glass containers Cling film Paper bags Bubble wraps Secondary packaging: Secondary packaging involves the products that help secure bulk quantities of primary packaging with the final product inside it. Most of these products are used in warehouses, industrial areas or institutions where goods are stored and transported in large quantities. Types of secondary packaging include: Plastic crates Plastic Trays EPS Trays Wooden crates Tertiary packaging: Tertiary packaging is used to protect manufactured goods for shipping or storing and is meant to protect both secondary and primary packaging along with the product itself. This type of packaging is not seen by consumers as it is used by transporters, retailers before the products are displayed for sale. Some of the tertiary packaging example include: Corrugated Fiber Board Wooden Crates Wooden Containers Wooden Pallet Plastic Pallet Ancillary Packaging: Ancillary packaging includes packaging materials required to support primary packaging. Auto-ancillary packaging materials prevent contamination, improves strength, bind packaging and safeguard the main packaging from damage during transit. A few examples of ancillary equipment include: Adhesives Printing Inks PP straps Caps and Closures Tapes Labels Cushioning Material Trends in Food packaging Over the last few years, packaging has emerged as an important sector driving technology and innovation growth in the country and is adding value to various manufacturing sectors like food, agriculture and FMCG segments. In India, food packaging industry has witnessed the maximum number of innovations as the consumers prefer their food products to be hygienic, safe and packaged attractively. Here are some of the trends in India’s Food & Beverage packaging industry: Busy work schedules, rising number of working women and on-the-go consumption are some of the key reasons leading to innovative and sustainable packaging across the food sector. Growing awareness about the eco-friendly and sustainable food option has led key market players to focus on sustainable solutions, which is further becoming a business imperative. Pouch packaging has emerged as a popular alternative in the food industry as these are adaptable, portable and light. Moreover, they offer features like resealable closure, spouts and tear notches and offer technologies that reduce production costs, making pouches more affordable. The post-pandemic era is witnessing a boost in online food sector and packed food products. According to a report by IMARC India, the market size of packed food products is expected to grow to US$ 3.4 billion by 2027. Major food delivery players like Zomato and Swiggy have expanded their base in two tier and three tier cities leading to increased demand of containers, trays and bowls. As the government of India has imposed ban on plastic packaging in several states, paper packaging businesses have witnessed a significant growth over the years. Packaging products in paper includes folding cartons, corrugated boxes, paper bags and liquid paperboard. Sharing his outlook on the current food packaging scenario, Vishal Ganju, Secretary General at Institute of Packaging Machinery Manufacturers of India (IPMMI) states, “India’s packaging industry indeed stands as a beacon of potential, especially in the realm of flexible packaging, which mirrors the nation’s commitment to progress.” Cutting-edge technologies in food processing India’s food and drink packaging industry is thriving. It’s getting a lot of attention
Meta’s ‘Imagine’ AI image generator with Llama 3 is redefining visual creativity
Meta, formerly known as Facebook, has unveiled its latest innovation in the realm of artificial intelligence (AI) – “Imagine.” This cutting-edge AI image generator marks a significant leap forward in the field of visual content creation, promising to revolutionise the way businesses and individuals produce compelling images for various purposes. In the realm of business, Meta’s Imagine feature holds significant implications and benefits, revolutionising the way organisations approach visual content creation and branding strategies. Source: Shutterstock Imagine, Meta’s new AI image generator, harnesses the power of advanced machine learning algorithms to create stunning visuals with unprecedented ease and efficiency. By leveraging Meta’s AI model, Llama 3, Imagine is capable of generating high-quality images in real-time, morphing and changing dynamically as users type. This innovative feature opens up endless possibilities for creative expression and visual storytelling. Imagine seamlessly integrates with Meta’s platform, allowing users to create custom images by simply typing a prompt. As users enter their desired text, Imagine’s AI algorithm analyses it and generates corresponding images in real time, giving users a glimpse into the infinite realm of imagination. Imagine allows users to bring their ideas to life with an unparalleled speed and precision, whether they are creating illustrations for articles, designing social media graphics, or creating visual presentations. The Significance for Businesses For businesses, Imagine represents a game-changing tool for enhancing brand visibility, engaging audiences, and driving conversions. With the ability to generate high-quality images on-demand, businesses can streamline their visual content creation processes, saving time and resources while maintaining a consistent brand image. Whether it’s creating eye-catching advertisements, product showcases, or social media posts, Imagine empowers businesses to stand out in a crowded digital landscape and capture the attention of their target audience. Imagine seamlessly integrates with existing marketing and branding strategies, offering businesses a versatile tool for amplifying their online presence and driving engagement. By incorporating AI-generated images into their digital marketing campaigns, businesses can captivate their audience’s attention, evoke emotions, and convey their brand message with greater impact. From personalised email newsletters to interactive website banners, Meta’s AI image generator enables businesses to craft visually compelling experiences that resonate with their audience on a deeper level. Future Implications Looking ahead, Imagine has tremendous potential to shape the future of visual communication and storytelling. As Meta refines its AI algorithms and expands the capabilities of Imagine, we can expect to see even more innovative applications across a wide range of industries. From virtual reality experiences to augmented reality applications, Imagine has the potential to change the way we perceive and interact with visual content in the digital age. Meta’s Imagine is a game-changing advancement in AI-powered image generation, providing businesses and individuals with an effective tool for unleashing their creativity and imagination. As Imagine evolves and matures, it has the potential to reshape how we create and consume visual content, opening up new avenues for innovation and expression in the digital realm.
GenAI can catalyse growth and efficiency for MSMEs and startups
In the inaugural episode of the Tech Trailblazers series, we interact with Abhinav Chetan, founder of Digital for Nonprofits and Digicated, as he sheds light on his ventures and their mission to democratize digital access. Delve into his insights on the potential impact of Generative AI (GenAI) on India’s economy and how regulatory frameworks can shape its future. Gain valuable perspectives on GenAI’s implications for businesses, workforce dynamics, and its role as a game-changer for SMEs and startups. Discover the transformative potential of GenAI and its trajectory in shaping future innovations and collaborations. IBT: You are the founder of Digital for Nonprofits and Digicated. Please share more insights into these ventures and what inspired you to start them. Abhinav Chetan: After 12 years at Google working with large brands in the UK, US, and India, I realised that digitization was able to create a deep impact for brands and was transformative. It was then that I founded Digital for Nonprofits and Digicated. Inspired by Google’s 20% projects – which allowed us, the employees, to work with different people in our spare time, that gave me a chance to engage with nonprofits, startups, and teaching. Digital for Nonprofits empowers organisations with technology grants, digital marketing, and generative AI. Digicated leverages years of expertise to accelerate digital marketing for startups and MSMEs. Personally, through Abhinavchetan.com, I teach digital marketing and generative AI to institutions and individuals. Our vision is to democratise access to these tools, which has driven our mission for the past three years with no regrets. For us, the vision and mission, personally as well as for me, are to be able to leverage people and brands using digital marketing and generative AI. A lot of what I saw and learned is not very accessible or easy for these sorts of brands to access. So that’s what inspired us to create what we have right now. IBT: As a GenAI expert, how do you perceive the potential contribution of GenAI to the Indian economy? And how is India placed to benefit vis-à-vis other major economies in this area? Abhinav Chetan: As someone deeply engaged with generative AI, I prefer to see myself as an enthusiast rather than an expert. When considering India’s potential, I’m particularly passionate. Generative AI, a subset of AI, has recently gained prominence for its creative capabilities, unlike traditional AI, which focused on analysis and recognition. In India, with robust economic growth, a young demographic, and advanced digital infrastructure, the stage is set for significant innovation. Generative AI could revolutionise sectors like finance, healthcare, education, and media, potentially adding trillions to the economy by the decade’s end. However, ensuring privacy, security, and regulatory frameworks will be crucial for sustainable growth. With the right support, GenAI could drive India into a century of prosperity. IBT: In what ways do you think the current regulatory environment influences the development and adoption of GenAI in India? How can regulatory frameworks be structured to encourage technological advancements and also prevent their misuse? Abhinav Chetan: Regulatory frameworks play an important role in shaping the development and adoption of GenAI in India. Countries worldwide are grappling with the balance between nurturing innovation and preventing misuse. For instance, the US adopts a self-regulatory approach, while the EU emphasises scrutiny and transparency. India lies between these two extremes, focusing on critical infrastructure development, free marketplaces for data exchange, and upskilling initiatives. Copyright infringement and ethical considerations are also key concerns. Learning from global experiences, India aims to strike a balance that encourages innovation while safeguarding against misuse. Collaborative efforts on a global scale are essential for shaping effective regulatory frameworks in this rapidly evolving field. We’re also thinking of copyright infringement and watermarking AI-generated content. And there is also a lot of thought put into the ethical considerations of AI. So, in short, I think it’s going to be a balance where we foster innovation in general AI, but we also put guardrails in place so that it doesn’t get misused or it doesn’t create because it has potential. Overall, it will be interesting to see how these verdicts play out because countries will be keeping a close watch on what’s happening around the globe regarding AI to shape their own policies. IBT: According to you, what challenges can GenAI possibly pose to businesses, and which sectors could witness the most negative impact over the short term? Abhinav Chetan: The adoption of GenAI presents both opportunities and challenges for businesses. One significant challenge is the potential displacement of the workforce as repetitive tasks become automated. This necessitates a focus on upskilling employees to remain competitive. Additionally, businesses must navigate concerns around data security and privacy when utilising GenAI tools. Specific sectors such as IT services, customer care, and media and entertainment are likely to face short-term disruptions. For example, tasks like website development and customer support could be impacted by AI automation. However, companies have the opportunity to adapt and enhance efficiency through workforce upskilling and strategic adoption of GenAI technologies. While Generative AI may reshape workflows, individuals have the choice to embrace upskilling and leverage AI to their advantage to mitigate potential job impacts. IBT: What are the potential implications of GenAI adoption on workforce dynamics across different industries, and how can organisations navigate this landscape to harness AI’s capabilities? Abhinav Chetan: Personally, I don’t foresee massive layoffs or firings due to the adoption of GenAI. Instead, there’s immense potential for AI to enhance workforce productivity across various industries. In sectors like law and non-profits, where there’s a backlog of work, AI can serve as a force multiplier, enabling teams to accomplish more efficiently. The key lies in upskilling and leveraging AI tools to augment human capabilities, rather than replace them entirely. Embracing AI can empower individuals and organisations to remain competitive and future-ready in an evolving landscape. IBT: In what ways is GenAI acting as a game-changer for small and medium-sized enterprises or startups? How should small businesses use GenAI to scale
Rising pulses imports: Trends and Implications
India’s pulses imports have almost doubled during 2023-24 to reach US$ 3.74 billion. Decreasing production of pulses in the country and the government’s decision to remove import duties in a bid to bring down prices are key reasons for the surge in imports. IBT looks at major factors driving this persistent supply-demand gap, its impact on government’s recent policy decisions and possible action points that may be considered. Image source: Shutterstock In the intricate fabric of India’s culinary landscape, pulses are a pivotal component, serving as the cornerstone of countless dishes cherished across the nation. However, as domestic demand surges, the necessity to import pulses has escalated to unprecedented heights. Picture this: in the fiscal year 2023-24, the pulse imports to India soared to a staggering six-year pinnacle, catapulting by an impressive 84% year-on-year. Provisional data paints a vivid picture of this surge, revealing that over 45 lakh tonnes of pulses crossed borders into the nation, a stark contrast to the preceding year’s 24.5 lakh tonnes. But it’s not just the sheer volume that commands attention; the value of these imports skyrocketed as well, boasting a remarkable 93% year-on-year increase, tallying up to a substantial US$ 3.74 billion. In the ever-evolving realm of global trade, these figures not only reflect a statistical surge but also beckon us to delve deeper into the economic dynamics at play. In Jan 2023, India imported pulses worth US$ 219.44 million. Since then, exports have been on a steady rise to reach a peak of US$ 437.8 million in October 2023, followed by two months of decline to record US$ 378 million in December. Imports declined further to US$ 188.5 million in January this year, but bounced back once more in February to US$ 397 million. In March 2024, imports have touched a new high of US$ 572.7 million. The graph below shows the monthly value of pulses imported by India since January 2023 Source: Department of Commerce Top imported pulses were lentils (masur, dried & shelled, US$ 1.25 billion, up by 138.1% YoY); pigeon peas (US$ 833 million, up by 32.7% YoY); black gram (US$ 597.1 million, up by 27% YoY) and kidney beans (US$ 141.8 million, up by 14.3% YoY). India sources pulses mainly from Canada, Myanmar, Australia, Mozambique and Tanzania. During 2023-24, the country’s imports of red lentils (Masoor) from Canada have more than doubled to about 1.2 million tons, despite strained diplomatic relations. In addition, the government has allowed duty-free imports of yellow peas till June of this year and of arhar and urad till March 31, 2025. Since then, imports of yellow peas from Russia and Turkey have been going up. India is also importing chickpeas and pigeon peas to make up for a production deficit. Imports of black-gram have also soared during the year. Pulses imports are rising, but why? India is a major consumer and producer of protein-rich pulses. As per nutrition data, pulses are 20-25% protein by weight, which is twice the protein content of wheat and thrice that of rice. Chickpeas (gram), pigeon pea (tur or arhar), moong beans, urad (black matpe), masur (lentil), peas and various other kinds of beans are grown in the country. Madhya Pradesh, Maharashtra, Rajasthan, Uttar Pradesh, Karnataka, West Bengal delta region, Tamil Nadu, Kerala and Maharashtra are among the major pulse producing states. Source: DGCIS, figures for CY 2023 Pulses that are widely consumed in India include chana, masur, urad, kabuli chana, and tur. The India pulses market size was about 34.4 million tons in 2023. According to ‘India Pulses Market Report 2024-32’ by International Market Analysis Research and Consulting Group (IMARC Group), the market is expected to reach 57.3 million tons by 2032, growing at a CAGR of 5.7%. The recent spike in pulse imports is primarily seen as a consequence of low production and the government’s decision to remove import duties in a bid to drive down prices. Pulses inflation has remained elevated in February (202.6) and March (201.4). According to the Reserve Bank of India, food price pressures are making it difficult to lower inflation to the targeted level of 4%. During an interaction with India Business & Trade, Suresh Agarwal, Chairman, All India Daal Mill Association, informed, “Among pulses the import has largely surged for yellow peas (being sourced from Canada and Russia) and Masur (imported from Canada and Australia). Primarily, these 2 pulses is driving the overall pulse imports.” He highlighted that the government has introduced some changes in import policy, due to which Tur import was transcended to open general licence (OGL), which facilitated many importers of pulses. However, the change so introduced started getting misused by some large importing companies of India. Several companies set up their branch offices in exporting countries and bought large quantities of pulses, and thereafter resorted to pulse-hoarding. Therefore from abroad there was a short supply of about 50% for Tur, leading to an increase in its prices in the domestic market. Additionally, the production of Tur in the country has been witnessing a downfall in recent years, falling by nearly 35-40%. This decrease has further contributed to rising prices of Tur. Unstable erratic weather conditions in the major pulse producing states are the root cause behind the decreasing pulse production in the country. Domestic pulse production stood at 220.76 lakh tonnes in 2018–19, increased to 273.02 lakh tonnes in 2021-22. However, it declined to 260.58 lakh tonnes in 2022-23. The fall in pulse production is expected to continue. According to projections by the agriculture ministry for the year 2023-24, the pulses production in the country is expected to be at 234 lakh tonnes. It is to be noted that this year (FY24), the Kharif production is projected to decline from 76.21 lakh tonnes (in 2022-23) to 71.18 lakh tonnes. The Rabi crop is also expected to drop to 163.24 lakh tonnes from 163.58 lakh tonnes in the previous year. Pulses production in India^ Season 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24* Kharif 80.91 79.21 86.18 82.35 76.21 71.18 Rabi 139.85 151.04 168.45 190.67
Indian fintech startups face funding drought
During 2023-24, India’s fintech startups raised a total of US$ 1.5 billion, compared to US$ 4.5 billion the previous year. The number of funding rounds dropped drastically too, from 395 to 157 rounds in the same period. However, experts predict that India’s fintech market is expected to continue its growth trajectory, with a projected value of US$ 1.5 trillion by 2025. This growth is being fueled by factors such as increasing digital payment adoption, a growing middle class, and the government’s focus on financial inclusion. Source: Pixabay India’s fintech industry has surged onto the global stage, showcasing remarkable prowess fueled by innovation, adaptability, and a burgeoning tech ecosystem. With a compound annual growth rate (CAGR) exceeding 22%, India’s fintech market is projected to reach $150 billion by 2025, standing as one of the world’s fastest-growing sectors. Key drivers of this growth include India’s robust digital infrastructure, widespread smartphone penetration, and the government’s push for financial inclusion through initiatives like Jan Dhan Yojana, Aadhaar and UPI. Furthermore, a youthful demographic and increasing internet accessibility have spurred adoption of digital financial services, ranging from mobile payments and digital lending to insurance technology (insurtech) and blockchain solutions. Leveraging cutting-edge technologies such as artificial intelligence (AI), machine learning (ML), and blockchain, India’s fintech firms are addressing diverse market needs, disrupting traditional banking models, and driving financial empowerment across the nation and beyond. As per the most recent study by Tracxn, India secured the third position worldwide in 2023 concerning Fintech startup investment, thereby solidifying its standing as a noteworthy participant in the global arena. A period of turmoil Despite its very storied potential, India’s fintech ecosystem has undergone a fairly sobering financial year 2023-24. According to the most recent data provided by Tracxn, Indian fintech startups raised roughly US$ 1.5 billion in fiscal year 2024, a 66.67% decrease from US$ 4.5 billion in the prior fiscal year. The number of fund raising rounds also dropped sharply from 395 to 157 in the same period. Funding for late-stage rounds in 2023 reached US$ 1.4 billion, which represents a 56% decrease from US$ 3.2 billion raised in 2022. Similar trends were seen in early-stage rounds, as funding fell to US$ 489 million, a sharp 73% decrease YoY. The decline is being seen as part of a larger worldwide trend. Global fintech investment also fell to US$ 113.7 billion in 2023, a significant drop from US$ 196.3 billion in 2022, according to KPMG’s recent Pulse of Fintech report. This decline in funding has been influenced by concerns over high interest rates, geopolitical tensions, declining fintech valuations, and a challenging exit landscape. Additionally, the decline in late-stage funding has significantly impacted the sector. The Indian fintech sector experienced a significant setback in 2023, when funding plummeted by 63% YoY. This decline in funding can be attributed to a global funding winter, which had a negative impact on investor sentiment towards fintech startups in India. Despite the decline in funding, AI is expected to play an increasingly significant role in the fintech industry, with investors increasingly focusing on profitability and sustainability. Additionally, the Indian government’s recent allocation of approximately US$ 16.7 billion for the BharatNet project to enhance broadband connectivity within rural areas is expected to widen the sector’s reach and potentially attract more investments. Future Prospects for Fintech Funding in India To handle this funding squeeze, fintech startups should focus on profitability, strengthen their balance sheet, diversify revenue streams, focus on customer needs, and explore alternative funding options. These options can provide the necessary capital to fund growth and operations without diluting equity or taking on excessive debt. The future prospects for fintech funding in India are promising, despite the recent decline. The Indian fintech ecosystem boasts over 2,100 fintech companies, and 67% of them have been established in the past 5 years. According to Neha Singh, co-founder of Tracxn, this demonstrates the sector’s innovative capabilities and potential to drive India’s economic expansion. The sector was valued at US$ 584 billion in 2022 and projected to reach US$ 1.5 trillion by 2025. This growth is fueled by factors such as increasing digital payment adoption, a growing middle class, and the government’s focus on financial inclusion. Key trends shaping the future of fintech funding in India include the evolution of banking-as-a-service (BaaS), the rise of embedded finance, the transformation in credit scoring through digital fingerprinting, and the popularity of alternative financing methods like recurring revenue financing. These trends indicate a shift towards more innovative and customer-centric financial services, driven by technology and data-driven solutions. Despite challenges such as regulatory uncertainty, market saturation, cybersecurity threats, and the need for skilled talent, the Indian fintech sector remains attractive and poised for significant growth. Collaboration between banks and fintech players, along with a focus on financial inclusion and innovative solutions, will likely drive increased funding opportunities in the Indian fintech space.
Airrchip: Pioneering Cloud-Native Solutions in Fintech
In our inaugural interview under the Tech Trailblazers series, Jay Ranjeet Bhatt, founder of Airrchip, discusses the company’s evolution from a mobile e-commerce startup to a leader in cloud-native applications for the financial services sector. Bhatt discusses Airrchip’s journey, emphasizing its pivot to cloud-first and AI-driven strategies. Specializing in end-to-end product engineering and enterprise digital transformation, Airrchip accelerates product development for fintech solutions, leveraging reusable components. He highlights the company’s commitment to innovation, incorporating emerging technologies like AI and machine learning. Airrchip prioritizes security and compliance in handling financial data, ensuring trust and regulatory adherence. Looking ahead, Bhatt identified trends such as AI adoption in lending and digital banking, with Airrchip poised to become a key player in the global financial technology AI space through its product Frruit, aiming to democratize wealth and revolutionize financial literacy. Photo Source: Shutterstock IBT: Could you elaborate on Airrchip’s journey from its inception to a promising technology company in Mumbai in the technology space? Jay Ranjeet Bhatt: Founded in 2015, Airrchip began as a startup with a small engineering team of recent college graduates. Our initial focus was on building innovative mobile e-commerce applications. However, over the next three years, we witnessed a significant shift towards cloud-native applications and large-scale cloud transformation initiatives globally. This coincided with a growing demand for cloud adoption within India’s digitalization efforts, particularly in the financial services, fintech, and banking sectors. Recognising these trends, Airrchip transitioned into a full-fledged technology company. Today, we leverage cloud-first and AI-driven strategies to build highly scalable applications and platforms for global enterprises in the financial services and fintech/banking space. IBT: What inspired you to establish Airrchip, and what challenges did you encounter during the company’s growth in the technology sector? Jay Ranjeet Bhatt: Driven by a desire to create impactful products, I founded Airrchip at the age of 20 while still in college. This remains our core mission today. The early years, starting with our incorporation in 2015 officially , proved challenging. As a young startup, we took on various projects to ensure survival. However, this also highlighted the difficulty of identifying our ideal market niche and developing industry-specific expertise to deliver innovative solutions. Despite these initial struggles, the first three years provided valuable exposure and networking opportunities within the financial services, fintech, and banking sector. This ultimately led us to focus on this specific market, allowing us to build expertise and grow at scale. IBT: Airrchip specialises in various areas such as end-to-end product engineering and enterprise digital transformation. How do these specialties contribute to the company’s competitive edge in the market? Jay Ranjeet Bhatt: Airrchip accelerates product development and time-to-market for fintech solutions. Our framework of reusable components empowers enterprises to rapidly deploy and scale their solutions without building everything from scratch. These customizable and scalable components allow for easy development and integration of a wide range of financial features. This includes functionalities relevant to Digital Banking, Hyper-Personalization, Payments & Merchant SDKs, Retail & SME Lending, AML/KYC, Wealth Management, and more. By leveraging Airrchip’s pre-built components, you can offload the burden of building from scratch, allowing you to focus on core business needs and achieve faster market launch. IBT: How does Airrchip leverage its knowledge backend to meet the evolving needs of financial institutions? Jay Ranjeet Bhatt: Airrchip remains constantly updated on regulatory changes. Additionally, our strong network of industry veterans, policymakers, associations, fintech groups, and various contacts keeps our knowledge base consistently expanding and fosters innovation. Innovation is at the core of our DNA, as we continuously push technological boundaries, collaborating closely with clients to maintain a competitive edge. By delivering customer centric solutions, we empower financial institutions to create exceptional customer experiences across all touchpoints, fostering lasting relationships and loyalty. Scalability is integral to our offerings, with flexible solutions that adapt seamlessly to evolving needs, providing opportunities for expansion. This ensures we stay ahead of the curve. IBT: In what ways does Airrchip foster innovation within its team to ensure the development of cutting-edge solutions for clients? Jay Ranjeet Bhatt: Our team is dedicated to staying ahead of the curve by exploring emerging technologies and implementing them at scale for our customers. We constantly research cloud-native, AI, generative AI, machine learning, and mobile technologies to build reusable components and enhance our service offerings. To ensure we’re on the cutting edge, our innovation team includes industry veterans who share their knowledge and expertise. Recently, we had the privilege of building a merchant mobile SDK for PayOne, a major Jordanian payment aggregator, that utilises 3D Secure payments with challenge flow. This project provided valuable learning opportunities for our team. In the world of online commerce, safeguarding your business and providing a secure payment experience for your customers are crucial. 3D Secure payments offer a multitude of benefits, including: Reduced Fraud Risk: By adding an extra layer of authentication during checkout, 3D Secure significantly reduces the risk of fraudulent transactions, protecting your business and revenue. Liability Shift: Traditionally, online merchants held the liability for fraudulent charges. With 3D Secure, the liability shifts to the card issuer or the cardholder’s bank in case of fraud on a 3DS-enrolled card, providing you with financial security. Enhanced Customer Trust: Implementing 3D Secure demonstrates to your customers that their sensitive payment information is protected. This builds trust, fosters confidence, and cultivates long-term customer loyalty. Simplified Compliance: 3D Secure helps you navigate the complexities of online payment security regulations, ensuring compliance with regional and industry standards like PSD2 in the European Union. Expanded Customer Base: By offering 3D Secure payments, you cater to security-conscious customers, increasing your sales and market reach. Finding the right balance between security and user experience is essential. While 3D Secure offers enhanced protection, it’s important to maintain a smooth checkout process to avoid cart abandonment. Beyond 3D Secure, Airrchip offers comprehensive product engineering services. We collaborated with CASHe to develop the second version of their mobile app, resulting in an improved user experience, new features to boost their business, and increased
