Tire manufacturer CEAT has appointed whom as its new Managing Director (MD) and Chief Executive Officer (CEO)?

Daily Current Affairs

Florent Menegaux

Rahul Mammen Mappillai

Raghupati Singhania

Arnab Banerjee

Correct Answer : Arnab Banerjee

CEAT, one of the leading tyre manufacturers in India, has announced a change in its top leadership. The company has appointed Arnab Banerjee as its new Chief Executive Officer (CEO) and Managing Director (MD) while Anant Goenka has been designated as Vice Chairman of the company.

The new appointments will be effective from April 1, 2023.

Who Is Arnab Banerjee?

Arnab Banerjee is the new Managing Director (MD) and Chief Executive Officer (CEO) of CEAT Limited and was previously serving as the Chief Operating Officer (COO) of the company. He joined CEAT in 2005 as the Vice President of Sales and Marketing.

Academics :

Arnab Banerjee has an illustrious academic record. Banerjee is a distinguished alumnus of world-class institutions like IIT Kharagpur, IIM Kolkata, and Harvard Business School.

Arnab Banerjee's Career :

At CEAT Arnab Banerjee has been working as the Chief Operating Officer (COO) of CEAT and has been groomed by the Board of Directors to take over the top position. According to the company's filing, Banerjee was given company-wide exposure as COO to prepare him for the role of CEO. His appointment as CEO and MD is for a term of two years.

Over the years, he has been responsible for innovations in marketing, sales and distribution strategy, manufacturing flexibility, and seamless supply chain processes. He has also played a key role in ensuring customer satisfaction.

CEAT expects Banerjee's appointment as CEO and MD will bring a fresh perspective and energy to the company. Banerjee’s vast experience in the industry will be instrumental in driving the company's growth and ensuring that it remains a leader in the highly competitive tyre manufacturing industry.

Arnab Banerjee's Current Salary :

As per CEAT's annual report for 2022, Arnab Banerjee had a total remuneration of â‚¹2.96 crore. This figure includes a salary of â‚¹2.75 crore and other benefits that go upwards of â‚¹20 lakh...

Source : BG Prime

Published On : March 22, 2023

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Global Solar Growth Trends :

Ember’s report highlights that solar energy witnessed a remarkable increase globally, with 2023’s solar generation exceeding six times that of 2015. The top four solar growth countries, including India, accounted for 75% of this growth, emphasizing the widespread adoption of solar power worldwide.

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Q .

India's Toy Exports Slip to _____ Million in 2023-24

$102.92

$121.19

$139.53

$152.34

Correct Answer : Option (D) - $152.34

India’s toy exports experienced a slight decline to USD 152.34 million in the fiscal year 2023-24, with limited benefits from quality control measures. Despite efforts to bolster the domestic industry and ensure product safety, exports did not see significant improvement.

Declining Export Trends :

Export figures dropped marginally from USD 153.89 million in the previous fiscal year to USD 152.34 million in 2023-24, as outlined by the Global Trade Research Initiative (GTRI). Despite a modest increase in exports from FY’2020 to FY’2022, the subsequent year witnessed a downturn.

Import Trends :

Conversely, imports rose to USD 64.92 million in 2023-24 from USD 62.37 million in the preceding year, indicating a persistent challenge in balancing trade dynamics.

GTRI’s Recommendations :

Comprehensive Industry Development Strategy : GTRI Founder Ajay Srivastava emphasized the necessity for a holistic approach to foster the growth of India’s toy industry and bolster exports.

Domestic Ecosystem Strengthening : Developing a robust domestic ecosystem is paramount, alongside measures to encourage renowned global toy brands to establish manufacturing facilities within India’s borders.

Published On : May 9, 2024

Q .

India Leads Global Remittances, Surpassing _____ Billion Mark.

$50

$100

$200

$250

Correct Answer : Option (B) - $100

India emerged as the global leader in remittances in 2022, receiving over $111 billion, surpassing the $100 billion mark for the first time. The International Organisation for Migration (IOM) highlighted India, alongside Mexico, China, the Philippines, and France, as the top five remittance recipient countries.

Consistent Growth: From $53.48 Billion to $111.22 Billion

The UN’s World Migration Report 2024 underscored India’s consistent growth in remittances, noting a rise from $53.48 billion in 2010 to $111.22 billion in 2022. This significant increase showcases India’s pivotal role in the global remittance landscape.

Southern Asia’s Significance in Global Remittances :

The IOM emphasized Southern Asia’s importance as a major recipient of global remittances, attributed to its high proportion of migrant workers and emigrants. India, Pakistan, and Bangladesh all ranked among the top ten recipients worldwide, highlighting the sub-region’s reliance on labor migration.

Prominent Migration Corridors and Destination Countries :

While India ranks 13th as a destination country for immigrants, it features prominently in various international migration corridors, including India-United Arab Emirates, India-Saudi Arabia, and Bangladesh-India, all of which are among the top 10. This indicates India’s significant role in global labor migration patterns.

Published On : May 9, 2024