Titan taps AI to boost manufacturing efficiency and retail precision
Venkateswaran reflects on the company's early bets on omni-channel experiences, the principles that shaped Titan's phygital model, and the ethical considerations of using data for personalization. He also offers insights into how AI is optimizing supply chain decisions and inventory forecasting, while staying rooted in Titan's brand ethos. For CIOs navigating AI's potential in consumer-facing industries, this episode offers a strategic lens on transformation at scale—grounded in outcomes, not hype.
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Time of India
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- Time of India
India tariffs doubled: Gem & jewellery industry looks to set up units in low-tariff nations
Faced with a doubled 50% tariff imposed by the US, India's gem and jewellery industry is contemplating establishing manufacturing facilities in countries with lower tariffs like Dubai and Mexico to maintain access to the US market. This move comes as the industry anticipates a significant downturn in exports, with Titan Company also considering shifting production to the Middle East. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads US President Donald Trump's doubling of existing tariff to 50% on India has prompted the Indian gem and jewellery industry to explore setting up manufacturing units in low tariff nations like Dubai and Mexico from where they can directly export to the US, otherwise they say it's doomsday for their export US is the largest market for Indian exporters of diamonds and studded jewellery worth $10-billion as of 2024-25. The United Arab Emirates faces a 10% tariff while Mexico 25%.Gem & Jewellery Export Promotion Council chairman Kirit Bhansali said the 50% tariff is a doomsday for the Indian gem and jewellery sector. We have to find alternate ways to do business with the US, he said.'We will reroute our products through other countries after studying the tariff structure of that country with the US. We will set up manufacturing units there quickly. Dubai is the nearest destination for us. We will also look into rerouting studded jewellery through Mexico, if required. However, we will do everything legally," Bhansali per media reports, India's biggest jeweller Titan Company has confirmed exploring shifting some manufacturing to the Middle East to maintain low-tariff access to the said when the tariff was 25%, the industry had thought of recalibrating margins to do business with the US. 'But now with a 50% duty, it has simply become impossible for us to survive," he said.A team from the US gem and jewellery industry is visiting India on August 19 to hold talks with the industry body and union commerce ministry on the tariff issue. There are 70,000 small and medium jewellery retail outlets in the US who largely source jewellery from the goods in transit will not get impacted due to this high tariff. Adil Kotwal, president of Mumbai's SEEPZ Gems and Jewellery Manufacturers Association, said there are no orders from the US now. 'The little bit orders that we got before August 7 have been shipped,' he said. SEEPZ houses 200 gem and jewellery exporting units and employs around 1 lakh people.
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India Today
a day ago
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OceanGate CEO blamed for Titan implosion, Coast Guard says it was preventable
The Titan submersible disaster could have been prevented, the U.S. Coast Guard said in a report Tuesday that held OceanGate CEO Stockton Rush responsible for ignoring safety warnings, design flaws and crucial oversight which, had he survived, may have resulted in criminal and four passengers were killed instantly deep below the North Atlantic when Titan suffered a catastrophic implosion while descending to the wreck of the Titanic. A multi-day search for survivors off Canada grabbed international headlines, and the tragedy led to lawsuits and calls for tighter regulation of the burgeoning private deep sea expedition Coast Guard determined the safety procedures at OceanGate, a private company based in Washington state, were 'critically flawed' and found 'glaring disparities' between safety protocols and actual practices. Jason Neubauer with the Marine Board of Investigation said the findings will help prevent future tragedies.'There is a need for stronger oversight and clear options for operators who are exploring new concepts outside of the existing regulatory framework,' he said in a suspended operations in July 2023. A spokesperson for OceanGate, Christian Hammond, said the company has been wound down and was fully cooperating with the investigation, and offered condolences to the families of those who died and everyone FLAGS AT OCEAN GATE Investigators pointed to OceanGate's culture of downplaying, ignoring and even falsifying key safety information to improve its reputation and evade scrutiny from company ignored 'red flags' and had a 'toxic workplace culture,' where firings of senior staff members and the looming threat of being fired were used to dissuade employees and contractors from expressing safety a former test flight engineer for fighter jets, founded the company in 2009 after years of experience in aerospace and Marine Board concluded that Rush had an 'escalating disregard for established safety protocols,' which contributed to the deaths of four people. If Rush were alive, the board would have passed the case to the U.S. Department of Justice and he may have been subject to criminal charges, the board BRAGGED HE'D BUY A CONGRESSMAN' IF CHALLENGED The company reclassified submersible passengers as 'mission specialists' to bypass regulations on small passenger vessels and claim its subs were oceanic research vessels. Former mission specialists and OceanGate employees said their participation was 'purely for a ride in the submersible, not for scientific research,' the report and OceanGate received numerous warnings about Titan's fraudulent classifications. In 2017, Rush was told by a Coast Guard Reserve officer hired by OceanGate that his planned Titanic dive would be said 'he would buy a congressman' if ever confronted by regulators, the officer the years, the company resorted to increasingly deceptive strategies, the report said. By 2021, an OceanGate attorney falsely informed a federal court in Virginia — which was presiding over The Titan's authorization to conduct dives — that the vessel was registered in the Bahamas, even though it wasn' obtain his credentials, Rush submitted a fraudulent sea service letter signed by OceanGate's chief operations officer to the Coast Guard's National Maritime Center, the report said. In the letter, Rush claimed past service as a crew member on Titan and misrepresented the size of the vessel, when in fact it had never been registered or INADEQUACIESInvestigators found the submersible's design, certification, maintenance and inspection process were all inadequate. The vessel's carbon fiber hull design and construction introduced flaws that 'weakened the overall structural integrity' of its hull, the report financial pressures in 2023 led to a decision by OceanGate to store the Titan submersible outdoors over the Canadian winter, where its hull was exposed to temperature fluctuations that compromised the integrity of the vessel, the report addition to Rush, the implosion killed French explorer Paul-Henri Nargeolet, British adventurer Hamish Harding and two members of a prominent Pakistani family, Shahzada Dawood and his son Suleman family of Nargeolet, a veteran French undersea explorer known as 'Mr. Titanic,' filed a more than $50 million lawsuit last year that said the crew experienced 'terror and mental anguish' before the disaster. The lawsuit accused OceanGate of gross had been making voyages to the Titanic site since 2021. The Titan's final dive came on June 18, 2023, a Sunday morning when the submersible would lose contact with its support vessel about two hours later. The submersible was reported overdue that afternoon, and ships, planes and equipment were rushed to the scene about 435 miles (700 kilometers) south of St. John's, Coast Guard-led team operated under the possibility there could be survivors for several days. Wreckage would subsequently be found on the ocean floor about 330 yards (300 meters) off the bow of the Titanic, Coast Guard officials said.- EndsMust Watch
