OPINION, P2 IDEA EXCHANGE ‘Don’t know how Olympics will transpire. Must go in with open mind. Protocols in place, but will they be enough? Don’t know’ Page 11 Government rides a winged horse FE LINES There’s a whole new wave of animation films and series waiting to be discovered in the future Page 6 ABHINAV BINDRA ACROSS THE AISLE , P CHIDAMBARAM It’s raining animations LEISURE Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM VOL 14 NO. 21 CINEMAFOR THE CLIMATE FINANCIAL EXPRESS ON SUNDAY MUMBAI SUNDAY, JULY 25, 2021, 16 Pages, `10 P U B L I S H E D F R O M : A H M E D A B A D , B E N G A L U R U , WHAT'S INSIDE ■ SPOTLIGHT, P7 Of men and masculinity Is gender inequality only restricted to women? What about male stereotypes and their effects on men and society? Long considered a privilege and suppressed because of consequential societal pressure, these stereotypes can have a flip side too. But the conversations are getting louder and now there are spaces to discuss masculinity threadbare C H A N D I G A R H , Theory of disaster A magisterial work on catastrophes, written against the backdrop of Covid-19, digresses from its central theme ODD & EVEN ROHNIT PHORE READ TO LEAD H Y D E R A B A D , K O C H I , K O L K A T A , L U C K N O W , FE BUREAU New Delhi, July 24 has been one of the worst affected due to Covid-induced travel restrictions, may not immediately recover, but stands a good chance to regain pre-Covid levels of traffic on the back of newroutes that did not exist some fouryears back. Another factor that may help carriers recover traffic volumes is through gains from existing rail routes. For instance, in FY21, 10 millionpassengerstravelledon air routes that did not exist four years ago. These new routes helped the overall market volumes grow by 8% over this period and the momentum has continued. “Such a secular growth trend coupled with share gains from rail in existing routes should help domestic air volumes recover to FY20 levels in FY23, compensating These new routes helped the overall market volumes grow by 8% over this period and the momentum has continued Airlines covered domestic 1,154 routes (including return journeys) in March 2021 versus 1,033 routes a year ago New routes started by airlines in FY21 yielded 230,000 new journeys in March 2021 versus March 2020 or 2.8 million new journeys on an annualised basis for the reduction in corporate business travel,” Kotak Institutional Equities has observed in its report. Airlines covered domestic 1,154 routes (including return journeys) in March 2021 versus 1,033 routes a year ago. Continued on Page 12 PRIVATE LENDER ICICI Bank on Biden authorises $100-m fund to meet Afghan refugee ‘needs’ US PRESIDENT JOE Biden on Friday authorised up to $100 million from an emergency fund to meet "unexpected urgent" refugee needs stemming from the situation in Afghanistan, including for Afghan special immigration visa applicants, the White House said. Biden also authorised the release of $200 million in services and articles from the inventories of US government agencies to meet the same needs, the White House said. The United States is preparing to begin evacuating thousands of Afghan applicants for special immigration visas (SIVs) who risk retaliation from Taliban insurgents because they worked for the US government. PAGE 12 Delhi Metro, buses at full capacity from Monday THE DELHI METRO and public buses in the city will operate at full seating capacity while cinema halls, theatres and multiplexes will open with 50% occupancy from Monday, as per DDMA's latest guidelines issued on Saturday. No standing passenger will be allowed in the Metro. Business-to-business exhibitions will also be allowed, but only with business visitors. The number of people allowed at marriage functions and last rites will be raised to 100. Spas can also open from July 26 but their all employees have to be fully vaccinated. What Trai proposes To achieve three key objectives – connectivity, affordability of devices, and digital literacy AS MOBILETELEPHONY ispen- etrating deeper by the day and becoming the medium for delivering more services, the Telecom RegulatoryAuthority of India (Trai) is working on a proposal to achieve three key objectives — connectivity, affordability of devices, and digital literacy. According to sources, Trai will come up with a consultation paper soon to deliberate on the issues relating to digital inclusion as it believes that people in the rural areas and those in the low-income bracket may lag once 5G is launched and most of the services become digital. According to the regulator, India has performed excessively well in achieving digital self-sufficiency and the country now has around 700 million wireless broadband users. Broadband services have reached the interior and lessdeveloped parts of the country RISHI RANJAN KALA New Delhi, July 24 SINCEAPRIL,TRIVENISRINIVAS andNithinM,intheirearlythirties, have been working for a Hyderabad-based animation firm from a homestay in Chikmagalur,Karnataka. “It is a little extravagant,but we are glad we took it. Sometimesbridgingthegapbetween work and pleasure can help maintain sanity in such testing times,”Triveni said. In exploring out-of-the-box workspaces, this couple is not alone. For a majority of office goers,2020broughtaparadigm shift in priorities. Though WFH came with a much-needed reprieve from hectic commuting,many faced a fresh set of challenges like cramped houses, lack of social interactionandpressuresofjuggling household chores with work.A temporary move to an idyllic hill station, or a beach town,offeredthatbreatherfrom the stress of living — andwork- It will come up with a consultation paper soon to deliberate on the issues relating to digital inclusion but when new technologies like artificial intelligence (AI), internet of things (IoT), augmented and virtual reality (AR/VR)will gain prominence, some kind of support needs to beprovided,sothatthesetechnologies do not remain confined to the urban centres. According to an official, Trai’s paper will focus on providing connectivity to all with Homestays (registered with the state govt) Total number would be higher as a larger share of homestays is in the unorganised sector Uttarakhand Around 4,000 Himachal Pradesh Around 2,300 Source: Industry Homestays’ contribution to economy `2,577.4 cr Estimated total value of output of homestays in India `879.5 cr Estimated total gross value added of homestays segment in India Source: IAMAI Report (Sept 2020) ing — under the shadow of a pandemic. As Covid ravaged the hospi- Continued on Page 12 Continued on Page 12 OLYMPICS Mirabai Chanu opens India’s medal account with silver PRESS TRUST OF INDIA Tokyo, July 24 A CONFIDENT SMILE never leaving her face, Mirabai Chanu ended India’s overtwodecade-long wait for a weightlifting medal at the Olympics,clinching the 49-kg categorysilvermedalfiveyears after leaving the same platform in tears following a disastrous debut. With her historic triumph, sheensuredthatIndiawassecond on the medals tally for a brief while, a feat that has never been achieved before by the country.Itwasalsothe first time that India managed to win a medal on the opening day competitions. The diminutive iron lady Trai’s paper will focus on providing connectivity to all with the help of affordable devices and making people digitally literate India now has around 700 million wireless broadband users the help of affordable devices andmakingpeopledigitallyliterate. Various government departments have to work together to achieve the objective of digital inclusion. “In future, the country’s economywillbedriven bytechnologyandifpeoplearenotable to access the market because of lack of digital knowledge, they willbeleftbehind.So,somekind Offering a desk with a view, homestays a hit ● Segment shines as workcations tempt people for past few months. The 2016 experience was a watershed in her career and Chanu had spoken about how confused she had felt during her debut at the biggest stage. Therewasnoneofthosenerves to be seen on Saturday, just a very composed and focused athletewho knewshewas destined for the podium. Saturday reported a 78% yearon-year (y-o-y) jump in its net profit to `4,616 crore during the June quarter (Q1FY22).The bankwasabletoreportastrong bottomline mainly on account of robust net interest income (NII)andlowerprovisioning.NII ofthelenderrose18%y-o-yand 5% quarter-on-quarter (q-o-q) to`10,936crore. However,provisions fell sharply to `2,852 crore in the reporting quarter, down 62% y-o-y, compared to `7,594crore in Q1FY21. Sandeep Batra, executive director, ICICI Bank, said,“The retaildisbursementsmoderated in April and May due to the containmentmeasuresinplace across various parts of the country.” With the gradual easing of restrictions, disbursements picked up in June and July,he added. The net interest margins (NIM) of the bank increased 20 basispoints(bps)y-o-yand5bps sequentiallyto3.89%.Although the management did not gave any specific guidance on margins,thelenderexpectsNIMsto maintain the same level in the comingquarters.Theassetquality of the lender worsened duringtheJunequarter.Grossnonperforming assets (NPAs) ratio of the lenderincreased 19 basis points(bps)to5.16%,compared to gross NPAs of 4.96% in the previous quarter. India’s Mirabai Chanu poses for photographs after winning a silver medal in women’s 49-kg category weightlifting event at the Summer Olympics 2020 in Tokyo on Saturday PHOTO: PTI ❝ COULD NOT HAVE ASKED FOR A HAPPIER START TO TOKYO2020! — PRIME MINISTER NARENDRA MODI from Manipur lifted a total of 202kg (87kg+115kg) to better Karnam Malleswari’s bronze in the 2000 Sydney Olympics. “I am very happy, I have been dreaming of this for the past five years. I am very proud of myself right now. I did try for gold but even silver is a great achievement for me,” Chanu told reporters after her careerdefining triumph for which shehadbeentrainingintheUS Trai pushes for digital inclusion; proposal in works for rural areas KIRAN RATHEE New Delhi, July 24 talitysector,homestayscameto the rescue. They were able to attract working couples,some- P U N E FE BUREAU Mumbai, July 24 Route to growth In FY21, 10 million passengers travelled on air routes that did not exist four years ago D E L H I , ICICI Bank net profit surges 78% Airlines could fly high again by FY2023 ● New routes, gains from rlys will aid airlines in regaining traffic volumes N E W Q1 PERFORMANCE RUN-UP TO 5G QuickPicks M U M B A I , RISE LIKE A PHOENIX? THE AIRLINE BUSINESS,which ■ WORDS WORTH, P4 C H E N N A I , By reducing its carbon footprint, Cannes film fest hopes to inspire other festivals Page 9 times with children,who were looking for private, clean and hygienic accommodations,following Covid protocols. Many were able to afford extended stays due to competitive rates, enhancing this alternative arrangement’s popularity. Airbnb’s general manager for India, Southeast Asia, Hong Kong and Taiwan, Amanpreet Singh Bajaj said a large number of Indians are looking at travel beyond holidays — to include remote work or other arrangementsthatblurthelinesamong living,working and travel. Continued on Page 12 of mechanism should be formulated to provide digital knowhow, so that they can access the market,” said an official. The government is already implementing a National Digital Literacy Mission (NDLM) scheme to impart IT training to 52.5 lakh people, includingAnganwadiandASHA workers and authorised ration dealers.Thescheme’smissionis to train non-IT literate citizens become IT-literate so that they are able to actively and effectivelyparticipate in the democraticanddevelopmentalprocess to enhancetheirlivelihood. It must be mentioned that this is not the first time that Trai would come out with a proposal on digital inclusion. In 2016, the authority had made a proposal to give 100 MB free data to rural smartphone users in a month. It had then recommended utilisation of funds from the Universal Service Obligation Fund (USOF) to provide free data, but the proposal could not be implemented. ❝ I HAVE BEEN DREAMING OF THIS FOR THE PAST FIVE YEARS — MIRABAI CHANU UPBEAT NOTE Ad industry hopes losses will reverse in festive season VENKATA SUSMITA BISWAS New Delhi, July 24 INDIA’S TELEVISION, PRINT and digital advertising revenues are showing signs of revival after declining by almost 20% in 2020. According to a recent report by DentsuInternational,adspend is expected to grow by 10.8% in 2021 to reach $9 billion. Industry executives are hopeful that theywill make up for the impact of the Covid-19 second wave in the upcoming festive season. “The ICC Men’s T20 World Cup, part 2 of IPL 2021, and otherimpactpropertiesontelevision will draw advertising expenditure from brands. We are expecting adspend during the festive season this year to definitely exceed 2020 levels,” said Anand Bhadkamkar, CEO, Dentsu India. About 40% of annual adspend takes place during the festive season. Revival on the cards Adspend expected to grow 10.8% in 2021 to reach $9 billion Impact media events like ICC Men's T20 World Cup, IPL 2021, Bigg Boss to attract ad money Ad volume in H1 2021 is 12% greater than H1 2019. Volume of ads by FMCG brands in the first half of the year is 40% more than H1 2019 During the April-June quarter, the industry suffered a setback.AccordingtoTAMdata,ad volume on television dipped in MayandJuneby13%and17%, respectively, in comparison to December2020. Continued on Page 12 ‘India lucrative market for homestays’ ● IHCL MD & CEO Puneet Chhatwal predicts strong growth for segment in India FE BUREAU New Delhi, July 24 “INDIA IS A VERY viable mar- ket for homestays given its numerous leisure locations as well as strong domestic tourist potential,” says IHCL MD & CEO Puneet Chhatwal, as he talks of their brand amã Stays & Trails. Puneet Chhatwal, IHCL CEO His optimism also hinges on the hope of further development of India’s infrastructure of roads and highways in the coming decade. In an interview with Sunday FE,he says they identified the need for a branded and differentiated product in this unstructured market and have plans for amã’s growth with a target portfolio of 500 bungalows over the next few years.Presently,the brand has 44 bungalows in 18 locations. Moreover, this growth will come from management contracts without any capital deployment. And with an asset-light model,he sees huge potential for the segment as a revenue churner too. Details on Page 8
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