One of the most popular engineering services company L&T Technology Services Limited (LTTS) on Monday said that it had won a multi-year deal to provide digital content management services to a leading European technology company’s industrial products segment.

The contract is anticipated to operate for a period of 5 years with a total revenue potential of $40M, covering engineering content management (ECM) programs in the US and European regions.

Vadodara, Gujarat-headquartered LTTS said that it will utilize its centers in Europe, US, and India and would take complete responsibility and talent to organize content for all the existing and future product suites for the customer. This mainly consists of technical design specifications, diagnostic solutions for service engineers and product training for customers & engineers, in this way constantly supporting the whole ECM cycle for product conceptualization to develop digital content platforms.

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Keshab Panda, who is the CEO & Managing Director of LTTS said, “With engineering content becoming one of the cornerstones of digital transformation, this deal win highlights LTTS’ consulting capabilities to key customers in the US and European markets.”

He further added, “LTTS will provide expertise and support in building content management capabilities with the help of new technologies such as AI & Virtual Reality, thereby enhancing the overall customer experience.”

About LTTS

L&T Technology Services (LTTS) is basically a subsidiary of Larson & Toubro (L&T). It is a research and development engineering firm whose offices are located in Edison, New Jersey, and Munich. Apart from this, it also consists of a subsidiary Esencia which is located in San Jose California. From 2016, it is being traded in minimum two stock exchanges, mainly National Stock Exchange and Bombay Stock Exchange. LTTS currently consists of 13,000 employees who are spread across 16 design centers and 42 innovation labs globally.

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In the last few years, small online vendors all the country are facing troubles due to the e-commerce giants like Flipkart and Amazon. A large group of online sellers has reached to the regulatory body which handles fair trade of items. All the sellers are requesting the body to restrict some large sellers on e-commerce platform Flipkart during the Big Billion Day, asserting that Flipkart has great influence on pricing due to these vendors.

All India Online Vendors Association (AIOVA) which consists of 3,500+ vendors selling on the e-commerce platforms has written to the Competition Commission of Indiaam (CCI), asserting that the country’s giant e-commerce platforms tampers with pricing and engages in heavy discounts via its preferred sellers like Retail Net and Omnitech Retail.

E-commerce platforms in India don’t have permission to control pricing of products sold on their platform.

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Flipkart has raised heavy funds just after its collaboration with the US retail firm Walmart. Hence, it is expected that Flipkart will engage in heavy discounting war with its close rival Amazon this festive season. As per details, Flipkart’s Big Billion Day (BBD) is scheduled for next month. Small vendors in their petition to CCI stated that Flipkart offers a special treatment to its preferred sellers by reducing their cost of sales like advertising and logistics expenses.

AIOVA petition stated, “In the case of a normal seller, to feature on top of the search results, they have to pay sponsor fees or earn better reviews and ratings. This involves some time, effort and capital from the manufacturer/seller… (while these) are doled out for free in a discriminatory manner to the preferred brands such as MarQ, Smartbuy.”

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Small vendors have earlier also complaint about the Flipkart for providing preferential treatment to some large vendors, which in turn results in unfair competition for third-party vendors on these platforms. They have written petition to some of the other government bodies along with CCI.

Flipkart is very much furious with its in-house brand business just before the Big Billion Day Sale. It anticipates 80% year-on-year increase in the gross merchandise value (GMV) and total units sold during the event.

Flipkart is criticized by various small vendors and online sellers for its acquisition by Walmart. Confederation of All India Traders (CAIT), which consists of 70 million traders, has petitioned the National Company Law Appellate Tribunal (NCLAT) against CCI’s approval for the Walmart-Flipkart deal.

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In order to note its remark on the state of Telangana and Andhra Pradesh, Power2SME, the first ‘buying club’ for SME in India, has made a partnership with the Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI). It is basically the main industry body which facilitates and protects the interests of trade, commerce, and industry in the region to direct their large member base around the firm’s value offerings.

Power2SME signed a Memorandum of Understanding (MoU) with FTAPCCI, which was signed by Ms. Sudha Sarin, VP marketing- Power2SME and Arun Luharuka, President, FTAPCCI on the behalf of various leaders of the state and local government bodies. It was signed at the SME Transformation Camp’ event mutually held by Power2SME and FTAPCCI in Hyderabad.

As per the main part of this partnership, Power2SME, and FTAPCCI provided info to MSMEs present at the event about the importance of using technology in order to handle various problems such as raw material acquisition, working capital requirement, manufacturing excellence amongst others.

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Important meetings were also held by delegates from SIDBI, Power2SME, and FTAPCCI, greeting Power2SME’s brand offerings and how they handle issues which are raised by SME sector, raw and the importance of SME visibility and credibility for overall country development.

In order to increase their business and guide them with the competitive edge, the SME Transformation Camp provided solutions about the problems encountered by SMEs which may hinder their business and growth.

The union focuses to connect with the large base of MSMEs in the region and organize a series of events during the entire year. The new move received a great response with over 80 MSMEs participating in the event.

In order to work in-line with the government to support MSMEs, Power2SME choose Hyderabad to mark its presence in the district and lead MSMEs with different solutions to grow in the ever-changing business environment.

Sudha Sarin, who is the Vice President of Marketing and Communications, in Power2SME stated, “As we commence our operations in Telangana and Andhra Pradesh, we seek to work collectively with MSMEs in the region to help them enhance their performance and profitability while simultaneously addressing challenges that hamper their operations. With a robust focus on expediting the growth of the MSME sector in the region, the comprehensive solutions offered by Power2SME will cater to procuring & sourcing raw material and providing financial aid & MRO services.”

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Arun Luharuka, who is the president of the Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI) stated, “We are happy to collaborate with Power2SME to support the operations of MSMEs in the states of Telangana and Andhra Pradesh. This association will benefit a large number of MSMEs present in the region to help augment their growth. Companies like Power2SME help these enterprises enhance operations and boost confidence & business performance. We encourage more and more SMEs in the state to take part in the initiative being undertaken and gain from the knowledge and expertise exhibited in the SME Transformation Camps being organized.”

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