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From travellers to protagonists, India’s ‘Collective Individual’ Millennials revel in their contradictions at work and play Collective Individualism and what it means for the Lives and Leisure of India’s Generation Y Titan Company’s “Paradox Panel” Think Tank Publishes Third Quarterly Report

8 July 2014, Delhi: - Collective Individualism – the contradiction that typifies India’s millennial population (those aged between 21 and 35 years) – is clear and present across all aspects of their lives, from travel and tourism to their particular attitudes on work-life balance, according to research published by Titan Company’s ‘Paradox Panel’, today.
According to the research, Collective Individualist behaviour is the contradiction which characterises today’s ‘Generation Y’ demographic; while they are intensely and determinedly individual in the way they obtain and use information, make choices and reach opinions. They are, simultaneously, the most Collective generation on earth, sharing everything from activities to opinions and constantly seek endorsement for the same. This is the essence of Titan Company’s Millennial Paradox ; and a series of studies, research and insights commissioned by the company around this demographic phenomenon.
,br> The Collective Individual; from traveller to protagonist

When travelling, millennials value individual and, where possible, deeply personal experiences that go way beyond the superficial; 78% of millennials would prefer to learn something new when traveling, while 70% indicated they expect special places to offer immersive experiences that are interactive and hands-on . Over 90% strongly agree that “being well travelled was a competitive advantage in the workplace” with the same survey respondents claiming that student travel ‘fosters an appreciation for diversity, an appreciation and acceptance of cultural differences which helps to build confidence’.
According to Mr. S. Ravi Kant – Chief Executive Officer – Eyewear & EVP Corporate Communications, Titan Company, today’s ‘Collective Individual’ traveller aspires to be, not merely a visitor, but a genuine protagonist in the places they visit.
“Millennials’ approach to travel perfectly reflects the Millennial Paradox; they religiously ‘crowd source’ insights and opinions before deciding on a journey or destination, but what they are ultimately seeking is an experience that’s completely individual and unique,” says Mr. Kant. “Generation Y travellers demand to be integrated in local culture with an actual authentic, local experience. This perfectly reflects the shift from travelling to witness or experience to travelling to participate. Millennial travellers look beyond just a completely personalized experience; they go a step further to participate and be much more than just a visitor.”
Work-life balance – a false distinction for the Collective Individual . . .
Other findings highlight Indian millennials’ attitude towards work-life balance. For millennials work is simply another medium of individual, personal self-expression with 83% believing that a job should help them to ’pursue their passion’. Such consideration should not, however, suggest any compromise when it comes to their careers; on the contrary, 37% Indian millennials ‘expect to be in a management position within one year of graduating’ and 25% expect to be in ‘senior management positions or running their own business’ within two years.
For today’s millennials, work is an intensely individual and personal activity; and much more than simply the extraction of ‘surplus labour’. Over 80% millennials believe business can exert a positive impact on issues such as climate change, 56% believe business can contribute more to issues such as resource scarcity; 55% climate change; 49% income inequality . And they expect to be treated as individuals throughout the process; around 70% of them see themselves working independently as entrepreneurs ‘at some point’ in their lives.
“The Millennial Paradox is palpable in the way that India’s Generation Y considers work, its meaning and their role within. They expect a direct, personal and individual relationship with their employer; however, they are deeply conscious of the wider role employers can play beyond the workplace with respect to the wider collective. 69% actively seek employers whose corporate responsibility efforts reflect their personal values ; India’s millennials are applying the same values and logic to work as to their lives outside the office,” added Mr Kant.
Titan Company’s Paradox Panel has already explored the implications of the Millennial Paradox on India’s youth in terms of their consumer behaviour ; following papers will cover love & relationships and professional lives. These insights will be published in subsequent Titan Company’s Millennial Paradox Quarterlies during the course of the year.

Titan Company’s Paradox Panel

Titan Company’s Paradox Panel comprises of Mr. Aditya Swamy – Executive Vice President, MTV India, Dr. Bino Paul – Professor and Chairperson, Tata Institute of Social Sciences, Mr. Kaustav Sengupta – Associate Professor at National Institute of Fashion Technology and Mr. Sam Ahmed, Film Director.

About Titan Company

Titan Company Limited (earlier known as Titan Industries Limited), a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO) commenced operations in 1987 under the name Titan Watches Limited. In 1994, Titan diversified into Jewellery and subsequently into Eyewear with Titan Eyeplus. In 2013, Titan entered the fragrances segment with SKINN. In the later part of the year, it ventured into the helmets category under its Fastrack brand
Today, Titan Company is India’s leading producer and retailer of watches, jewellery and eyewear and is credited with changing the face of the industry. Titan Company had an extremely good 2013-2014 and recorded an outstanding performance in a challenging economic environment, buoyed by the strength of its brands across its watches, jewellery and eyewear divisions. The company reported an income of Rs. 10815.08 crores for the year ended March 2014, registering a growth of 8.1% over the previous year. Titan pursued aggressive growth during 2013-14 in all its businesses. The performance was backed by the talent and commitment of employees and business associates that helped Titan Company register this encouraging growth.

For media enquiries, contact –

Ajit Pai
Rediffusion/Edelman | ajit.pai@edelman.com | +91 96633 94732

Priyanka Serrao
Rediffusion/Edelman I Priyanka.serrao@edelman.com I +91 7259255677

Consumption is now the number one spectator sport for India’s millennials

Collective individualism palpable throughout the purchase process Titan Company’s “Paradox Panel” Think Tank Publishes Second Quarterly Report
24 February 2014, Bangalore - The status associated with communicating and sharing each stage of the purchase process is potentially more important to India’s millennial consumers than what they actually purchase, according to new research published by Titan Company’s Paradox Panel, a think tank convened to research, debate and develop insights into India’s 21-35 year-olds.
With 89% of Indian millennials researching online before making a purchase, and 74% of believing that they influence the buying decisions of others , the entire consumption process has become an opportunity to enhance profile and status – from research to post-purchase.
While India’s millennials are extremely individualistic in their shopping habits – 43% Indian millennials shop alone and a third of them cite ‘personal satisfaction’ as the single most important factor behind their decision-making – the need for endorsement, validation and communication of each stage of the purchase process remains ever-present. 9 out of 10 Indian millennials actually believe it’s their responsibility to share feedback with companies after a good or bad brand experience ; sharing is not merely desirable for millennials , it has become a fundamental aspect of consumer behaviour.
The concept of Collective Individualism highlights this demographic group’s obsession with self-expression, individual choice and personal opinion, while at the same time exhibiting an unprecedented desire to share and belong to some form of community, both in the professional and personal context. According to the Paradox Panel’s Second Quarterly Report – India’s Millennial Paradox and what it means for the way they consume – this contradiction is palpable at each stage of the purchase process.
Another consumer trend revealed in the report is millennials’ obsession with the search for wisdom; not knowledge in the traditional sense, but rather information which is compelling yet difficult to find – the more compelling the information and complex the search the greater the resulting prestige.
According to S Ravi Kant, CEO, Eyewear Division & Executive Vice President Corporate Communications, the purchase process perfectly reflects the Collective Individual paradox at the heart of India’s millennials.
“India’s millennials see value not just beyond the product but in all stages of the ‘highly involved’ purchase cycle; from the research and selection to the acquisition and the final experience. The ability to share and validate each step of the process is absolutely critical.The contradiction being that, while today’s millennial consumers demand an experience which is genuinely personalised and unique, they also crave endorsement and approval at each stage of the process,” says Mr Kant.
“Our esteemed panellists have compellingly captured how individualism has become the new convention, and what this means for brands and retailers. When Collective Individualism is applied to the purchase process, consumption really does become India’s biggest ‘spectator sport’! ” he adds.
To mark Titan Company’s 25th anniversary the Paradox Panel will be exploring the implications of the Millennial Paradox on India’s youth in terms of their consumer behaviour, family and relationships, professional lives and careers, and leisure. Throughout the year, these insights will be published in subsequent Titan Company’s Millennial Paradox Quarterlies.
Titan Company’s Paradox Panel
- Aditya Swamy – Executive Vice President, MTV India
With an MBA in Marketing from S.P. Jain Institute of Management & Research, Aditya started his career with Coca-Cola and moved on to the entertainment industry in 2006. He has helped MTV to convert into a multiplatform entertainment destination. Today, MTV reaches out to over 130 million people on TV, has the largest social media connect with over 8 million fans on Facebook & Twitter; and has over 2 million views a month for its mobile TV service.
- Dr. Bino Paul – Professor and Chairperson, Tata Institute of Social Sciences
Dr Bino Paul GD is Professor at the Centre for Human Resources Management and Labour Relations at the Tata Institute of Social Sciences. He has a doctoral degree in Economics from IIT Bombay and affiliated with the Centre for Human Resources Management and Labour Relations, Innovation and Research Facilities: Labour Market Research Facility and the School of Management and Labour Studies.
- Kaustav Sengupta – Associate Professor at National Institute of Fashion Technology
Kaustav is a well-known youth trend analyst, alternative media expert and a fashion theorist. He heads a research & direction team of young Indians which is organically growing and now has a network of more than 1,500 young trend-spotters across India. This initiative called INgene, is the first ever youth trend research initiative in India recognized by many international experts as the best source for youth trend insights in India. He regularly conducts workshops, delivers lectures and presents papers on Indian youth trend, fashion forecasts, consumer analysis.
Twitter @kaustavsengupta
Website http://www.kaustavsengupta.com/
- Sam Ahmed, Film Director
Sam Ahmed is one of the biggest creative names in the world of advertising and is currently a film director. He is one of the world’s most awarded creative people. Sam has spent 14 years at Y & R, Dubai where he was credited with making Y&R the No. 1 agency in Dubai in creative rankings. Over the years, Sam has won more than 200 international awards including the Cannes Lions, One Show, Clio, New York Festival, and Epica among others.
- Mr. Arun Nair, Your Design and Punchline
Arun Nair is millennial entrepreneur from Bangalore, who is part of Your Design and Punchline. Your Design is a merchandising house which caters to a largely millennial audience across the country. Punchline is a brand that aims at promoting the art of stand-up comedy by encouraging enthusiastic people to take to the stage.
About Titan Company
Titan Company Limited (earlier known as Titan Industries Limited), a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO) commenced operations in 1987 under the name Titan Watches Limited. In 1994, Titan diversified into Jewellery and more recently into Eyewear with Titan Eyeplus. In 2013, Titan entered the fragrances segment with SKINN. In the later part of the year, it ventured into the helmets category under its Fastrack brand. Today, Titan Company is India’s leading producer and retailer of watches, jewellery and eyewear and is credited with changing the face of the industry. Titan Company Limited had an extremely good 2012-13 and came up with an outstanding performance in a challenging economic environment. Sales income for the year 2012-13 was Rs. 10,009.05 crores, registering a growth of 14.5% over last year. Titan pursued aggressive growth during 2012-13 in all its businesses. The Company invested in many strategic initiatives taking into account long term and sustainable growth. All these backed by the talent and commitment of employees and business associates have helped Titan Industries register this encouraging growth.
For more information, contact –
Ajit Pai
Rediffusion/Edelman | ajit.pai@edelman.com | +91 96633 94732

Priyanka Serrao
Rediffusion/Edelman I Priyanka.serrao@edelman.com I +91 7259255677
Click here for the pdf version

In a significant announcement today, Titan Company widened its footprint in the personal lifestyle segment with the launch of the SKINN Titan range of fine fragrances. The launch of SKINN range of perfumes follows the recent announcement of the company’s new identity as Titan Company. The selection of six scintillating perfumes bears the hallmark of Titan, with the assurance of the Tata group. The combination of the best fragrance expertise with one of India’s most trusted brands, with products manufactured in France, SKINN will redefine the Indian fragrance industry with its product offering.

Designed in-house and created by six world-renowned master perfumers including Harry Fremont, Michel Girard, FabricePellegrin, NadegeLe Garlantezec and the celebrated Alberto Morillas and Olivier Pescheux, these French-made perfumes are the international interpretation of him and her. It portrays a young woman’s sensuality in SKINN Imera; her warm seduction emitted by violets, roses and Venezuelan tonka bean oils in SKINN Nude; the womanly charms and complexity defined by the orange flower and jasmine drizzled in SKINN Celeste. Made from vanilla sourced from Madagascar, SKINN Extreme celebrates the sporty vitality of a man whilst SKINN Raw defines raw masculinity lent by the citrusy bergamot and mandarin and SKINN Steele is a power trip of complex spices, pink pepper, pimento and nutmeg.

Speaking on the occasion of the launch, Bhaskar Bhat, managing director, Titan Company, said, “Being a leader in watches, jewellery and eyewear, Titan Company is constantly evolving to suit the needs of its customers and provide them with world-class products at great prices. It was time for us to widen our footprint in the personal lifestyle categories that are currently unorganised, under-served and under-penetrated. Using our in-house design and marketing expertise, wide retail footprint and the brand name Titan, we took a step to enter the fragrances market which is growing at a compounded annual growth rate of over 30 percent and has tremendous opportunities.”

He further added, “The current fragrances market in India is bustling with international brands that are very expensive. There is no Indian player and there is an opportunity to bring in quality and an Indian brand name in the space.Over three years of work has gone into the making of SKINN and it is an important part of Titan Company’s journey, and we look forward to this exciting phase. SKINN will soon redefine the Indian fragrance industry like the way we transformed our watches, jewellery and eyewear businesses. We look forward to expanding this category and its offerings in the times to come.”

Master perfumer Alberto Morillas, creator of the SKINN Nude fragrance variant, shared his delight, “I’m happy and very excited to be a part of the SKINN journey. It was a pleasure working with Titan, a renowned and respected Indian company that is well known globally. While these fragrances are developed by French perfumers and are made in France, they are modern and international. A lot of market and consumer research has gone behind creating these perfumes.”

He further added, “The fragrance tells a story about love. For SKINN Nude that I created, I used the memory of the flower market in India as a key inspiration. I also wanted the fragrance to speak about romance and about sensuality, which has been carried through.”

Master perfumer Olivier Pescheux, co-creator of SKINN Raw, said,“SKINN has been one of the most fascinating projects I have ever worked on. Working hand-in-hand with Titan, this project gave me the opportunity to travel twice to India, to rediscover a beautiful country, meet great people and find many new sources of inspiration. My inspiration for SKINN Raw has been to bring a unique sense of elegant and bold masculinity to enhance one’s confidence. I imagined a fragrance that empowers you and gives a cool, reliable image of one’s self and that delivers a luxurious, truly long-lasting freshness.”

The six exciting variants of SKINN — Raw, Extreme and Steele for men and Imera, Celeste and Nude for women have been created by renowned perfumers and have several unique highlights. They are in the eau de parfum format, have been designed in unique bottles reflective of a human body physiology, have been crafted to last longer with notes that endure and grow pronounced with time, are devoid of any dyes and have been dermatologically tested.

Worn every day, the perfumes transform from an accessory which completes your identity and so, the perfume ritual becomes second nature and this fragrance becomes your second skin.

Gifting has been of utmost relevance with Titan watches and jewellery with their chic designs and superior finish. With the launch of luxury perfumes, SKINN equally becomes relevant for an ultimate gift or treasured self-purchase. Available at Rs990 for 50ml and Rs1,790 for100ml, SKINN will be available in select World of Titan stores, department stores, multi-brand outlets, and lifestyle and accessory stores across the country and online.

To know more about SKINN, visit www.Skinn.in

Click here for the presentation on the launch of SKINN fragrances

16 Sept, 2013

Titan Industries Limited, India’s leading watches, jewellery and eyewear manufacturer and retailer has unveiled a new corporate identity to express and celebrate its transformation over the last 25 years. Under its new identity, Titan will now be known as Titan Company Limited. The new logo – ‘Titan Star’ was unveiled conveying the company’s commitment to drive innovation, nurture talent, create value and delight consumers by maintaining highest global standards.

Speaking on the occasion, Bhaskar Bhat, Managing Director, Titan Company Limited said “We have completed 25 years as a company and this is a good time to plan for the next phase in our journey. We were born as a single-product, single-brand company but today we have many businesses and many brands. In this age, the role of the company behind brands becomes significant as consumers want to buy from, investors want to invest in and employees want to work for a company that they trust and respect.

We wanted to create a strong platform and identity for the company to help us communicate effectively with our many stakeholders. To achieve this objective and more closely reflect the lifestyle segments we operate in, we have changed our name to the Titan Company.”
About Titan Star - The new logo Titan Star has taken the inspiration from the tiny twinkle that the company wants to bring to people’s eyes by providing elevated experiences.

The multi-faceted form of Titan Star reflects the fact that while the company has many brands, they will always be one company. The counter-form in the center creates a ‘T’ representing the common, value-driven culture. The facets are geometrical and precise to communicate Titan’s commitment to the highest global standards in everything they do. The new corporate identity will be soon transitioned at Titan’s existing and upcoming stores, sales and marketing collaterals, stationery, website and social media platforms.

About Titan Company Limited: Titan Company Limited (earlier known as Titan Industries Limited), a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO) commenced operations in 1987 under the name Titan Watches Limited. In 1994, Titan Industries diversified into Jewellery and more recently into Eyewear with Titan Eyeplus. Today, Titan Company is India’s leading producer and retailer of watches, jewellery and eyewear, and is credited with changing the face of the Indian watch as well as the jewellery industry. Titan Company Limited had an extremely good 2012-13 and came up with an outstanding performance in a challenging economic environment. Sales income for the year 2012-13 was Rs. 10,009.05 crores, registering a growth of 14.5% over last year. Titan pursued aggressive growth during 2012-13 in all its businesses. The Company invested in many strategic initiatives taking into account long term and sustainable growth. All these backed by the talent and commitment of employees and business associates have helped Titan Industries register this encouraging growth.

For more information, contact –
Ajit Pai
Rediffusion/Edelman II ajit.pai@edelman.com II +91 96633 94732

Megan Fernandes
Rediffusion/Edelman II megan.fernandes@edelman.com II +91 9986638498
28 Aug, 2013

The Reserve Bank of India has issued a notification on June 4th, 2013 on changes to the current terms governing import of gold. The Company has had discussions with RBI officials to obtain clarifications on certain aspects of the notification.
It has been clarified that :
• All imports of gold for domestic consumption, either through banks, nominated agencies or directly can be made only with 100% cash margin.
• Credit of any kind from suppliers or bullion banks for import of gold for domestic use is prohibited. This also affects import of gold through all non consignment routes like gold on lease / loan.
• RBI is firm that the implementation of the notification needs to be both in letter and spirit.

This Press Release is being issued pursuant to Clause 36 of the Listing Agreement

A trendy range of styles for the 25-35 years old upwardly mobile consumer whose desires are in line with the latest global trends. A fashion forward, discerning and sophisticated consumer who appreciates superior materials, styling and workmanship. The all new Titan Glares sunglass range has a good mix of colorful, trendy and elegant designs. The range is inspired by the hottest international trends and tailored to suit the Indian face shapes and skin tones.

Commenting on this launch, Mr. Bhaskar Bhat, MD, Titan Industries Ltd said, “Since its inception, Titan Industries has always been a consumer centric company. We are committed to give our customers a unique experience every time with differentiated products. Sunglasses are a perfect fashion and personal accessory that combine style with functional benefits. India is a sunny & dusty country with a large 2 wheeler population, making it a naturally attractive market for eye protection through sunglasses. Titan Glares is being launched to leverage this opportunity in the Indian market. Priced between Rs 1500 - 2995, we are giving the consumer an offering of highly fashionable sunglasses at attractive prices.”

Commenting on the launch, Mr. Ravi Kant, CEO - Eyewear business - Titan Industries Ltd. said, “We expect Titan Glares to be one of the hottest and happening brands of sunglasses. It will bring to the Indian consumer the best of international fashion trends and popular styles in high end finishes and high quality. The products are made with premium materials like handmade acetates with metal & crystal embellishments for the elegant ladies designs, TR 90 and Magnesium-Aluminum alloys for the sporty styles. They are also priced attractively to appeal to the value conscious Indian consumer. Titan Glares sunglasses are another step in enhancing the style and quality standards of our product portfolio, created for the Indian consumer."

Over the years Titan Eye Plus has developed a vast capability in designing, sourcing & development of fashionable eyewear products like frames and lenses and has evolved stringent processes for maintaining QC norms for the same. The key specialty of the all new Titan GLARES range is that it brings international standards in style, fashion and quality to the Indian consumers at attractive prices. The material, design finesse and workmanship of each model is closely monitored by carefully selecting the best-in-class vendors who are specialists in sunglass manufacturing. The products are made with hi-end materials like magnesium-aluminum alloys, handmade acetates and carbon fiber typically found only in premium international brands.

There are a wide range of designs for both men and women. For the women there is the TR90 collection with refined metal elements showcasing finesse and elegant handmade acetates with embellishments. In addition to the popular styles, the men’s range is created with materials like magnesium-aluminum which is light weight, sturdy and gives a premium sporty look to the sunglass designs.

The new Titan Glares sunglasses are attractively priced between Rs. 1500 – 2995. All Titan Glares sunglasses come with a 6 month warranty. The new brand is now available across all Titan Eye Plus stores in the country.

1 June 2013

The first in a series of Titan Industries’ Millennial Paradox Quarterlies They’ve been called the ‘Dictators’1, 97% believe that they – individually – have the power to change the World, 95% describe themselves as being more empowered than previous generations, 72% believe that they are more creative and can deliver more innovative/creative solutions to the World’s problems that their predecessors. For India’s millennial generation (people born between roughly 1980 and 2001) it’s all about ‘me’. In fact, for this demographic group ‘me’ is not merely important, it’s the only opinion that counts.

The ‘Millennial Me’; the only game in town According to the same MTV/TataDoCoMo survey data, a third of millennials cited ‘personal satisfaction’ as the single most important factor behind their decision-making, ahead of both parents (at 26%) and wider family (24%) – an unthinkable order of priorities for previous generations of Indians! Far from safety in numbers, looking for identity, prestige and endorsement from a wider group, 40% of today’s millennials simply ‘don’t care’ what the rest of society thinks about their opinions or behaviour, 56% will actually fight against society and norms if they believe that they are in the right, less than 10% look up to public figures as an example.

Another recent survey2 highlighted the increasingly independent nature of your Indians’ thoughts and aspirations; ‘Do something new independently’ was the number one priority according to the findings.

Based on this evidence, India’s millennials would appear to be the most opinionated, uninhibited, independent-minded generation in the nation’s history; and this insight is endorsed by anecdotal evidence of millennial behaviours: the use of Twitter to connect directly with anyone irrespective of their rank or title, the disregard for traditional structures of authority and management in the workplace (if they have an opinion, India’s millennials will simply express it); and their opinion is as valid as the next person, whether that happens to be the boss or the Prime Minister!

The death of the herd?
Research carried out by Visa International3 reveals that ‘Indian millennials want to be free to be themselves and explore who they are,’ . . . . ‘Four in five Indian millennials are ambitious and big dreamers . . .’. Youth marketing guru Samyak Chakraborty4 suggests that 80% of campus students want to build their own independent image and make purchases based on their own individual judgement rather than follow trendsetters. ‘Each wants to have his/her own unique style and be known by the choices they make . . . .this could mean the end of using ‘herd mentality’ as a basis for formulating a brand’s communication strategy.’

Millennials’ quest for individuality has taken the concept of personalisation to new levels in India. The stratospheric rise in vodka consumption – 25% year-on-year according to some estimates5 – is even being attributed to the drink’s ‘individualistic’ qualities6. According to the theory, Vodka is the perfect individualistic millennial drink; it leaves no trace on the breath, it can be transformed into an unlimited array of mixes and cocktails, or it can be drunk ‘solo’. In this sense, Vodka defies tradition and convention; it enables the drinker to choose his/her identity and adapts seamlessly.

In socio-economic terms, increasingly individualistic behaviour can also be reflected by and attributed to the trend towards urbanisation sweeping India. The move to the city, away from the support and confines of family, adds to the sense of independence; as do growing levels of financial independence and financial inclusion (bank account penetration, bank card usage etc.) across this demographic7

The ‘Millennial Paradox’
But, despite these unprecedented levels of self-obsession and independence, India’s millennials do not operate in isolation. On the contrary, this demographic exhibits an unprecedented desire to share and belong to some form of community, both in the professional and personal context. These communities are present both online (LinkedIn, Facebook, Twitter etc.) and offline and are sustained by this group’s appetite – even, compunction – to share; anything from holiday photos, to their innermost secrets with people who they may have never met. Sharing has become the principle form of validation and meaning for 21-35 year olds. And the evidence is compelling . . . . .
Millennials are the World’s ‘exhibitionist class’, everything is shared, everything requires an endorsement – whether that take the form of a ‘friend’ a ‘like’ or even a ‘retweet’. MTV researchers describe them as being ‘addicted to constant feedback’8; according to their research 58% of millennials surveyed felt more confident when they received feedback and 33% of those surveyed felt disappointed if others don’t respond.
And India’s millennials are no exception. 95% of them participate in social network activities at least once per day9, over half of them consider a mobile phone to be an ‘absolute necessary’ outstripping their debit/credit card (8%), bike (4%), car (2%) and newspaper (2%). India is home to over 61 million Facebook users, with 18-24 year-olds and 25-34 year-olds accounting for the biggest proportion.

According to Edelman’s 8095 research10, 74% of millennials believe that they influence their peers’ purchasing decisions; ‘Millennials seek recommendations from people they trust – They spend a lot of time on social media and are vocal about their likes and dislikes . . .’11.

In fact, 90% of Indian millennials actually believe that it’s their responsibility to share feedback with companies after good or bad brand experience.

And it’s not just about purchasing decisions; sharing has become the default response when addressing deeper issues. According to MTV/TataDoCoMo12 survey data, when it comes to social issues, 56% of millennials alert their friends and family, 39% join the relevant social community, and 27% write about the cause and issue on their personal communities.

‘Costless Friends’
The ease with which India’s millennials can share is redefining the concept of cause and effect; brands, parents, teachers, authorities no longer enjoy a defining influence over them. While 89% of India’s millennials research online before making a purchasing decision13, 64% of them also use social media to make new friends. And this is the key; traditional sources of validation and endorsement such as family and people from the vicinity are being complemented – and in some cases replaced – by new forms of trusted friendships.

While the latter were characterised by a sense of exchange and obligation (a sense of ‘debt’ in terms of loyalty and respect to family members, for instance), the latter come completely free of any such responsibility. These new forms of friendships are secured by mutual interests, passions, opinions, needs etc. but are completely ‘costless’ compared to their traditional predecessors. ‘Costless friends’ come devoid of any sense of obligation or duty; contrary to traditional relationships in India, where the sense of obligation can be overwhelming.

Despite this, costless friends should not be considered trivial or superficial; these types of communities and relationships can be profound, with members exchanging deep and intimate levels of information and insights. In fact, the levels of trust, confidence and loyalty that India’s millennials are associating with these new forms of friendships are growing. In many instances, such relationships have surpassed traditional sources of validation and are increasingly defining millennials’ opinions, beliefs and behaviours.

‘Collective Individualism’
‘Collective individualism’ is one way of describing this fascinating counterpoint; the obsession with individual personal choice, offset by the need to share and exchange as a form of validation and – in essence – meaning. Like many generations before them, India’s millennials are full of inconsistencies and apparent contradictions. In reality we are seeing traditional alliances and sources of validation and meaning are being replaced by new allegiances – such as the ‘costless friend’ – which are not limited to either geographical or familial ties. Collective individualism is a dynamic process; whether it ultimately leads to conflict, as India’s millennials exchange traditional sources of loyalty meaning for new ones, remains to be seen.

On a wider level, what India’s Millennial Paradox means in terms of consumer behaviour, professional outlook, family & relationships and leisure will be examined in further detail in future Titan Industries’ Millennial Paradox Quarterlies.

About Titan Industries’ Paradox Panel
Titan Industries’ ‘Paradox Panel’ is a discussion forum designed to research, debate and develop insights into India’s 21-35 year-old communities – the so-called ‘millennial’ generation. This demographic group is characterised by both a tendency – near obsession – towards self-expression, individual choice and personal opinion. The ‘Paradox’ being that – despite this – this group exhibits an unprecedented desire to share and belong to some form of community, both in the professional and personal context. Despite their rejection of conventional groups and communities in favour of individual opinions and self-expression, sharing has become the principle form of validation and meaning for today’s 21-35 year olds. This is the Millennial Paradox.

To mark the 25th anniversary of the brand during the course of the year, Titan Industries’ Paradox Panel will be exploring the implications of the Millennial Paradox on India’s youth in terms of their consumer behaviour, family and relationships, professional lives and careers, and leisure. Throughout the year, these insights will be published in Millennial Paradox Quarterlies – white papers designed to stimulate discussion, debate and further insight.

Titan Industries’ Paradox Panel consists of:
- Aditya Swamy – Executive Vice President, MTV India
With an MBA in Marketing from S.P. Jain Institute of Management & Research, Aditya started his career with Coca-Cola and moved on to the entertainment industry in 2006. He has helped MTV to convert into a multiplatform entertainment destination. Today, MTV reaches out to over 130 million people on TV, has the largest social media connect with over 8 million fans on Facebook & Twitter; and has over 2 million views a month for its mobile TV service.

- Dr. Bino Paul – Professor and Chairperson, Tata Institute of Social Sciences
Dr Bino Paul GD is Professor at the Centre for Human Resources Management and Labour Relations at the Tata Institute of Social Sciences. He has a doctoral degree in Economics from IIT Bombay and affiliated with the Centre for Human Resources Management and Labour Relations, Innovation and Research Facilities: Labour Market Research Facility and the School of Management and Labour Studies.

- Kaustav Sengupta – Associate Professor at National Institute of Fashion Technology
Kaustav is a well-known youth trend analyst, alternative media expert and a fashion theorist. He heads a research & direction team of young Indians which is organically growing and now has a network of more than 1,500 young trend-spotters across India. This initiative called INgene, is the first ever youth trend research initiative in India recognized by many international experts as the best source for youth trend insights in India. He regularly conducts workshops, delivers lectures and presents papers on Indian youth trend, fashion forecasts, consumer analysis. He is also representing PYMCA (www.pymca.com, the largest online archive of youth culture) in south east Asia; along with other honorary associations (Local advisor of TED, NeN NIT Trichy, IIT M etc.) This collaboration will provide new opportunities to GEN next and help showcase their photographs, artworks, music etc.

Twitter @kaustavsengupta
Website http://www.kaustavsengupta.com/

- Sam Ahmed – Vice Chairman and Creative Director, Rediffusion India
Sam Ahmed is one of the biggest creative names in the world of advertising and is currently Vice Chairman and Chief Creative Officer of Rediffusion. He is one of the world’s most awarded creative people. Sam has spent 14 years at Y & R, Dubai where he was credited with making Y&R the No. 1 agency in Dubai in creative rankings. Over the years, Sam has won more than 200 international awards including the Cannes Lions, One Show, Clio, New York Festival, Epica among others.

1 Source: TataDoCoMo/MTVPlay.com
2 Source: http://www.americanprogress.org/issues/economy/news/2012/10/11/40862/youth-skills-and-aspirations-in-india/
3 Source: Connecting with the Millennials – A VISA study (http://www.visa-asia.com/millennials/Visa_Gen_Y_Report_2012_HR.pdf)
4 Source: Youth Marketing in India with Samyak Chakrabarty
5 Source: http://articles.economictimes.indiatimes.com/2012-07-04/news/32537038_1_assocham-report-wine-consumption-indian-wine-market
6 Source: http://www.foodnavigator-asia.com/Markets/Young-India-takes-to-vodka
7 Source: http://www.fpsb.co.in/Upload/EventPDF/CII Financial Distribution Summit 2012.pdf
8 Source: http://heidicohen.com/millennials-social-media-digital-marketing-insights/
9 Source: TataDoCoMo/MTVPlay.com
10 Source: http://www.edelman.com/insights/intellectual-property/8095-exchange/
11 Source: http://www.greatindiabschool.edu.in/millennials-trendsetters-in-the-retail-industry/
12 Source: Source: TataDoCoMo/MTVPlay.com
13 Source: IDEM

In order to support the cause of Affirmative action and also promote entrepreneurship among SC/ST youth, Titan Industries has signed an agreement with CII Southern Region and BYST for training and developing 25 ST/ST youth in Entrepreneurship.

This initiative will carefully identify and develop SC/ST youth, spread over a period of two years starting April 2013. BYST will provide necessary development inputs and CII will facilitate the programme. Apart from sponsoring this initiative, Titan Industries will actively participate in selection, providing crucial inputs to the program and monitor the effectiveness of this programme.

In a related development , Titan Industries and CII have also signed an agreement to enable career guidance counseling sessions to students in schools / colleges that have significant SC/ST population, covering over 6000 students, over the next three years, in key districts of Tamil Nadu. This initiative has been taken up after studying the dropout rates and improper career guidance that was leading to poor employability and large discontinuity of courses by students. These sessions will not only focus on the further education prospects and employability, but will also enable development of soft skills in students.

Tanishq Design Studio was approached by Ministry of External Affairs via Taj Group of Hotels on 4th December’12, to design and craft special brooches to be worn by our Prime Minister and Heads of States from 11 South Eastern countries namely, Brunei, Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam & India; for the ASEAN – INDIA commemorative summit held in New Delhi from 20-22 December’12.

25 brooches had to be designed, approved by the MEA, manufactured and delivered with world class quality, inclusive of packaging & story card within 15 days. It was a herculean task and Tanishq Design Studio once again rose to the challenge to deliver this prestigious project. The design inspiration was the ASEAN logo, an improvised five spoked turbine which represents energy, motion, progress, connectivity and dynamism. The spokes are adorned in the colours of the Indian and ASEAN flag. The biggest challenge was to match the ASEAN flag colors with the exact enamel color. Cold enamel technique was selected as the best medium to go ahead with. Issues like tarnishing, durability, protective coating to preserve the gold finish, brooch pin finding, laser etching at the back of the Brooch etc were resolved instantly by the team to ensure speedy manufacturing and timely delivery. With exact enamel colors and high quality finish, the prototype of brooch was manufactured within 4 days. 25 Gold finish brooches encrusted with Swarovski crystals, were crafted with superior workmanship and delivered to MEA on 18th Dec’12 .The ASEAN brooches, crafted by Tanishq, were very much appreciated and worn with enthusiasm by our Prime Minister Dr. Manmohan Singh & the other Heads of States & their spouses

Titan started as a watchmaker and has since diversified into other businesses such as jewellery, precision engineering and eyewear. Titan has also expanded its brands to offer personal accessories such as bags, belts wallets. To mark its 25th year of retail operations, the company kick-started the celebrations with the unveiling of a specially designed “25 years” logo. Mr. Bhaskar Bhat along with the first and the most recent woman employee, unveiled the logo on the 11th December, 2012 at the Corporate Office. The logo was created to celebrate 25 glorious years of our existence and commemorate our longevity and rejoice the idea of many more years to come. The 25 years’ logo signifies diversification, thus to mark these 25 years of change, the logo looks like a bird which represents freedom. It signifies that Titan stands for constant reinvention and a restless spirit that is forever shedding the old and embracing the new. Titan recognizes its history but sets its focus firmly on the future.

Tanishq Design Studio was approached by Ministry of External Affairs via Taj Group of Hotels on 4th December’12, to design and craft special brooches to be worn by our Prime Minister and Heads of States from 11 South Eastern countries namely, Brunei, Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam & India; for the ASEAN – INDIA commemorative summit held in New Delhi from 20-22 December’12. 25 brooches had to be designed, approved by the MEA, manufactured and delivered with world class quality, inclusive of packaging & story card within 15 days. It was a herculean task and Tanishq Design Studio once again rose to the challenge to deliver this prestigious project. The design inspiration was the ASEAN logo, an improvised five spoked turbine which represents energy, motion, progress, connectivity and dynamism. The spokes are adorned in the colours of the Indian and ASEAN flag. The biggest challenge was to match the ASEAN flag colors with the exact enamel color. Cold enamel technique was selected as the best medium to go ahead with. Issues like tarnishing, durability, protective coating to preserve the gold finish, brooch pin finding, laser etching at the back of the Brooch etc were resolved instantly by the team to ensure speedy manufacturing and timely delivery. With exact enamel colors and high quality finish, the prototype of brooch was manufactured within 4 days. 25 Gold finish brooches encrusted with Swarovski crystals, were crafted with superior workmanship and delivered to MEA on 18th Dec’12 .The ASEAN brooches, crafted by Tanishq, were very much appreciated and worn with enthusiasm by our Prime Minister Dr. Manmohan Singh & the other Heads of States & their spouses.

Titan Industries Limited has been certified to “OHSAS 18001:2007” Management Systems. The certificate was handed over to Mr Bhaskar Bhat by Dr K Murugan – MD of UL MSS Ltd Bangalore at a simple but elegant function on the 23rd November at the Corporate office, in the presence of our Senior Management team and the OHSAS core team members. The scope of the OHSAS implementation and therefore certification covered the entire organisation that includes all factory and regional locations, Company owned stores and CFA’s apart from the corporate office at Bangalore covering a total of 91 locations. With this certification we have taken a small but important step in our journey towards enhancing Health and Safety standards at Titan to make “Titan a better and safe place to work ”.The Journey started more than 2 years back, when Titan Industries decided to roll out to implement OHSAS 18001 for all its Manufacturing locations, offices and retail outlets. This was really a mammoth task and it took Titan more than a year to get ready for the final certification process to this International Standard. The challenge was to assimilate and define all the activities right from Manufacturing to Warehousing to Offices to Retail. Covering 11 scopes under a corporate certification program covering Corporate Office, Watch Division, Jewellery Division, PED, Hosur, PED, Bommasandra ,Lens Lab, Chickbalapur ,TTPL, Goa, Regional Offices, Showrooms (Tanishq, Watches & Eye plus) & CFA’s.

The success story continues with achieving Regional Winner Award at TRRAIN Awards 2012 by Mr. Ramakrishnan from Goldplus, Pudukottai (TN) for excellence in customer service. The Grand award ceremony was held at Chancery Pavilion, Bangalore on 12th Dec 2012 which is celebrated as Retail Employees Day. This is a dream award of every person working in retail where the people are rewarded for rendering the best services to the customers.Mr. Senthil Kumar, RSI, Goldplus was also felicitated with a certificate and trophy for being the Mentor for Mr. Ramakrishnan by training him on the Customer service aspects. This has changed the life of Ramkrishnan as he never experienced such things in his life ever before. His wish is to continue serving the customer & make all his customers happy & delighted.

The following organisational changes are being made at Titan.
Mr Harish Bhat, Chief Operating Officer (Watches) will be taking a sabbatical from work for a period of 9 months starting 1st April 2012 to pursue his passion for writing a book on the Tata Group. Consequently, Mr. H G Raghunath, currently the Chief Manufacturing Officer of the Watches Division and who has been with the Watches Division for 25 years, will succeed Mr. Harish Bhat as Chief Operating Officer for the Watches division.
Additionally, Mr. L. R. Natarajan, currently Chief Manufacturing Officer of the Jewellery division who has also been spearheading the innovation initiatives in the Company, will lead the business development function of the company as Chief Operating Officer. Both the appointments are effective 1st April 2012.
S. Ravi Kant
Executive Vice President
(Corporate Communications)

ZOOP, the children's brand for watches from Titan, has launched the Puss in Boots Collection that is inspired by the characters in the new DreamWorks Animation feature, Puss in Boots. The collection comprises of 8 watches inspired by Puss in Boots and Kitty Softpaws, the protagonists of the movie. Titan will also launch various watches featuring Shrek and Donkey from the Shrek movies.
Commenting on the collection, Mr. Somprabh Singh, Senior Manager Marketing, Titan, said, “Puss in Boots is a very popular character amongst children. The audience embraced Puss in Boots in the Shrek films, and ZOOP has brought the character alive in its new range of exciting watches. The Puss in Boots collection personifies the dashing and mysterious persona of Puss in Boots and the mischievous and vivacious attitude of Kitty Softpaws. We're also excited to be able to feature watches dedicated to the fun and evergreen elements of Shrek and his pal Donkey.
The watches come in a variety of bright colors like eclectic blue, red and pink, and are priced attractively between Rs 395 and Rs 595. The dials are inspired by various facets of these characters while the straps come in appealing colors and are made of non-abrasive material marked by the quality hallmark of Titan, the leader in the Indian watch industry. The Puss in Boots collection and the Shrek watches are available in all World of Titan outlets, key multi-brand outlets and large format stores across the country.
The deal was brokered by DreamWorks Animation's licensing agent in India Dream Theatre Pvt. Ltd.

The Company has signed a binding offer today with VALFAMILY S.L., Spain and Maison Favre Leuba, S.A Switzerland, for the acquisition of brand Favre Leuba. This acquisition, when completed, will provide Titan Industries Limited with global rights to the trademarks of this brand. This acquisition is being pursued on an asset purchase mode, for a sum under Euro 2 million.
The strategic rationale behind the above acquisition is to complement and strengthen the existing watches brand portfolio of Titan Industries Limited with a Swiss heritage brand. Favre Leuba, created in Switzerland in 1737, has a rich history in international markets, including in India.

The most awaited jewellery car “Goldplus Nano" has been unveiled by our Group chairman Mr.Ratan Tata on 19th Sep at Mumbai to mark an era of 5000 years of jewellery making honouring the craftsmanship and tradition that continues to exist in India.
About car: Covered in 80kg of 22 carat gold and 15kg of silver, and inlaid with 10,000 semi-precious stones and gems, the 'bling' version of the Nano is a one-off showpiece that will tour Goldplus jewellery stores across the country. The car incorporates beautiful designs, made with the stones of different colors, set on the gold and silver body of the car. As many as 14 techniques of jewellery making have gone behind the effort from the intricate filigree work to the delicate and colorful meenakari work, the stunning kundan to the traditional naqashi, marking the convergence of diverse and culturally distinct jewellery making techniques from around India.

We are pleased to announce that Davangere in Karnataka is shortlist as a town for further expansion of Goldplus Brand.

Indian watch maker Titan has launched HTSE (High Tech Self Energised) watches, a collection of futuristic self energising, light powered watches. Ace Shuttleler Saina Nehwal along with Titan Vice President, Ajoy Chawla unveiled the collection.
HTSE brings alive the concept of a watch being a completely self sufficient unit to the point of energising itself. These watches can be charged by any light upward of 200 lux. Targeted at the tech savvy young urban male, this ultra modern assortment is truly an epitome of style and technology.

This is to inform the General public that M/s Titan Industries Limited, Jewellery Division, Khasra No. 238, Kuanwala, Dehradun (Uttarakhand) has been granted Environment Clearance No. SEIAA-EC-158/2011/328 dated 31 MAY 2011 for manufacturing of Gold Coin and Jewellery of Gold and precious metals with precious and semi precious stones and pearls from State Environment Impact Assessment Authority. The Environmental Clearance certificate is attached below for your reference & is also available at the office of SEIAA Dehradun.

Titan Industries Limited has commissioned 2 wind turbines of 1.5 MW capacity each at Theni, TamilNadu along with M/s TVS Wind Power Limited as a Joint Venture Project and has connected them to Tamil Nadu Electricity Board grid on 26th May, 2011.
Though the capacity of the wind turbines is 7 MW, due to restriction from TamilNadu Electricity Board (TNEB) in terms peak hour restriction and 20~30% power cuts, we have commissioned only 3 MW. This currently generates 44% of the electricity requirement of all manufacturing plants located in Hosur. In future, if the grid availability from TNEB improves, we can enhance our wind mill capacity to meet 100% of our energy requirements.

The Tata Medical Center (TMC) is a comprehensive cancer hospital and research establishment that is being set up in Kolkata, India, with contributions from the Sir Dorabji Tata Trust and different Tata companies. To be commissioned in 2011, the centre is a philanthropic initiative aimed specifically at helping cancer patients from the east and northeast of India and also from Bangladesh.
TMC's stated mission is to promote the prevention and cure of cancer patients and provide rehabilitation and palliative care to them. It will, when complete, be a quality cancer-care facility that caters especially, though not exclusively, to the poor of the region. The centre will have 150 beds reserved for the underprivileged and the best of medical equipment and personnel.
TMC is located at Rajarhat on about 14 acres of land procured from the West Bengal government and is easily accessible from downtown Kolkata and the city's airport.
The centre will have outpatient, inpatient, therapeutic, diagnostic, telemedicine and other services. It will be managed by the Tata Medical Center Trust, which has been formed for this purpose.
TMC will have state-of-the-art equipment to ensure top-notch diagnostic and treatment services. It will set up disease management teams with experts from different streams, such as surgery, radiation oncology, medical oncology, pathology, radiology, psychiatry and medical social work.
To ensure the integrity and security of the diagnostic process, patient samples, drugs and consumables will be transported across the centre through a pneumatic chute system. TMC will maintain an efficient waste management system and it will be helped by a comprehensive and customised hospital management system (HMS), currently under development by the Tata Consultancy Services.
The centre is planning to provide accommodation for attendants and relatives of patients undergoing treatment. This facility will have 200 beds, a canteen service, packed food delivery and self-cooking stations, a laundry and launderettes, shuttle services to the hospital, a children's play room and earmarked spaces for prayers and meditation.
TMC aims to be an organisation that excels in services, education and research in the field of cancer.
http://www.tata.com/TMC_video/tmc.html

It's a new year and Sonata has a new offering specially created for its Telugu speaking fans.
Sonata has tied up with Disney's fantasy adventure film in telugu “Anaganaga O Dheerudu" - starring Siddharth, Shruti Hassan and Lakshmi Manchu. It's the first fantasy adventure film by Disney in India and it's the VERY FIRST time Sonata is launching a collection inspired by a film !
The Sonata Anaganaga O' Dheerudu collection is a set of 24 beautiful watches across gents and ladies in gold and steel versions inspired by the lead characters of the film - Yodha, Priya, Moksha and Irendri.
Do check out our latest advertisement on the collection at http://www.youtube.com/watch?v=2M36bh2zhPE
SONATA......Wait no more!

Mr. Bhaskar Bhat and Mr. Ravi Kant announced Titan's foray into lens manufacturing at a press conference in Mumbai on 23rd June 2010.

The press conference was attended by key media publications and electronic channels.
The lens manufacturing unit produces world class prescription lenses using the latest state of the art technology.These lenses are currently available across all 88 Titan Eye+ stores in the country. Along with the launch of the facility, Titan Eye+ also launched two truly innovative set of lenses, Titan Activ and Titan Signature.

Titan Activ is a range of progressive lenses which is designed for the eyewear requirements of today's active lifestyle. Titan Signature lenses take personalization to the next level with path breaking technology which adapts lens design to the individual's unique visual habits.Titan Activ and Signature lenses will be available in select stores from next month. Wed 23 Jun 2010

Fastrack, India's most popular fashion accessories brand, recently signed on Genelia D'souza to be the face of the brand. The fashion brand lends its irreverent character to Genelia bringing out the edgy, sexy side of the previously sweet & bubbly Genelia in the "Sweet No More" Sunglasses Campaign.

Genelia's first campaign for Fastrack launches the new permanent girls' line of sunglasses. The “Sweet No More" campaign will give Genelia a complete make-over from her sweeter self to the spunky, naughty, bold and sexy girl. In a new never-seen- before avatar, creating a unique identity for her association with the brand, Genelia flaunts sunglasses from the bold new line for girls.

The Fastrack Girl line focuses on current fashion trends that include larger frames like bug-eyes, coloured and shell frames along with bright gradient lenses. What makes the products even more unique is the innovative play on the Fastrack logo on the temples. The first collection of the Fastrack Girl line has 51 variants across 20 styles to choose from, priced between Rs.1295-1795.

Speaking at the launch, Ronnie Talati, Vice President & Business Head, Fastrack & New Brands, spoke about the brand's renewed focus on the girls' segment - "This is the first large collection in a series of launches focusing on the fashion needs of the bold new generation of young girls in the country; and we couldn't be happier having Genelia as the face of the brand. Genelia & Fastrack make a formidable duo with each lending the other a new dimension. Genelia's entry into the brand's history marks the launch of Fastrack Girl, a sub-brand that focuses on the specific fashion needs of the new breed of spunky girls in the country." Mon 10 May 2010

As a practice, the private sector industry does not take into account, the caste identities of prospective employees in the employment process. However, the Government of India has impressed upon the industry and its related agencies like CII and ASSOCHAM to report on the caste identities of employees, as a committed step towards social equity. This action expected from the industry in terms of collation and regular reporting of the caste identity of its employees has been termed as “Affirmative Action" plan.
In this regard, the TATA Group initiative has begun work in earnest since the last three and a half years. Though Company CSR activities and TATA Trusts' work predates this initiative, specific focus under the Affirmative Action umbrella has been growing from strength to strength in all TATA Companies under the four specific categories (4 E's) - EMPLOYMENT, EMPLOYABILITY, EDUCATION & ENTREPRENEURSHIP.
At Titan, some initiatives under the 4 E's were being finalized and put into place, in this connection, the overall AA Policy of Titan has also been finalized and has been shared with all employees.
S RAMADOSS
Sr Vice-President & CHRO