Annexure-V- Cover Page for Academic Tasks

Course Code: MGNM 832 Course Title: RESEARCH METHODOLOGY

Course Instructor: Dr. LOKESH JASRAI

Academic Task No.: 02 Academic Task Title: RESEARCH PROPOSAL

Date of Allotment: 18/05/2022 Date of submission: 28/05/2022

Student’s Roll no: 14, 15, 23 Student’s Reg. no: 12104098, 12104105, 12105346

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as specified at the time of assigning the task by the instructor)

Learning Outcomes: After completing the assignment we understand that which type of
steps were taken to open a company and what type of challenges faced by the company
management.

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We declare that this Assignment is our work. We have not copied it from any other
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 Academic Task -2
(Research Proposal)

Analysis of FMCG sector of Punjab State

Gaurav Anand 12104098

Kumar Kishlay Nayan 12104105
Aditya Kumar Singh 12105346
Introduction To FMCG Industry in India

The fast-moving consumer goods (FMCG) industry is India's fourth-largest, with domestic
and personal care products accounting for half of all FMCG sales. The sector's main
growth drivers have been increased awareness, easier access, and changing lifestyles. The
urban segment (which accounts for about 55 percent of the total income generated by the
FMCG sector in India) is the most important contributor to the overall revenue earned by
the sector.
However, in recent years, rural India's FMCG sector has developed at a quicker rate than
urban India's. Semi-urban and rural areas are rapidly expanding, with FMCG products
accounting for half of all rural spending.
From US$ 110 billion in 2020 to US$ 220 billion in 2025, India's FMCG market is
predicted to grow at a CAGR of 14.9 percent. Despite state-wide lockdowns, the Indian
FMCG business increased by 16 percent in CY21, a 9-year high, driven by consumption-
led growth and value expansion from higher product prices, notably for basics.
In the same quarter, the rural market grew by 14.6 percent, while metro markets grew for
the first time in two quarters. During the period 2015-20, final consumer expenditure
climbed at a CAGR of 5.2 percent. According to Fitch Solutions, real household spending
is expected to grow 9.1% YoY in 2021 after dropping >9.3% in 2020 due to the pandemic's
economic impact.

Investment In FMCG In India

The government has approved 100 percent FDI in food processing and single-brand retail,
as well as 51 percent FDI in multi-brand retail. This will boost FMCG brand employment,
supply chain visibility, and high visibility across organised retail markets, boosting
consumer spending and driving new product launches. From April 2000 to December
2021, the sector saw a solid FDI inflow of US$ 20.01 billion.

• Dabur India announced an exclusive relationship with energy provider Indian Oil in
February 2022, giving Dabur's goods direct access to around 140 million Indane LPG client
households across India.

• Tata Consumer Products (TCPL) inked definitive agreements in November 2021 to buy
Tata Industries Limited's 100% equity stake in Tata SmartFoodz Limited (TSFL) for Rs.
395 crore (US$ 53.13 million) in cash. This move was in accordance with TCPL's long-
term strategy of diversifying into value-added sectors.
• McDonald's India teamed with FMCG business ITC in November 2021 to introduce B
Natural, a distinct fruit beverage, to their Happy Meal, which will be accessible across all
McDonald's outlets in South and West India, primarily catering to children aged 3–12.

• Procter & Gamble announced a Rs. 500 crore (US$ 66.8 million) investment in rural India
in October 2021.

• Adani Wilmar, a 50/50 joint venture between Adani Group and Wilmar of Singapore, filed
for an initial public offering (IPO) in August to fund up to Rs. 4,500 crore (US$ 607.13
million) for expansion.

• Tata Digital Ltd., a wholly owned subsidiary of Tata Sons, purchased a 64.3 percent share
in supermarket grocery supply, Big Basket’s business-to-business arm, in May 2021, as
part of the Tata Group's ambition to create a digital consumer ecosystem. The deal is valued
$1.8-2 billion, according to the Economic Times.

• In May 2021, Nepal-based CG Corp Global, which is well known for its renowned Wai
Wai noodles, announced plans to invest Rs. 200 crore (27.42 million) in West Bengal and
Uttar Pradesh to build two new manufacturing factories.

Three main segments of FMCG

1. F&B
• It accounts for 19% of the sector.

• This segment includes health beverages, staples/cereals, bakery items, snacks,

chocolates, ice cream, tea/coffee/soft drinks, processed fruits and vegetables, dairy
products, and branded flour, accounting for 19% of the sector.

2. Healthcare
• It accounts for 31% of the sector.
• This segment includes OTC products and ethical.

3. Household and personal care

• It accounts for 50% of the sector.
• Includes oral care, hair care, skin care, cosmetics/deodorants, perfumes, feminine
hygiene and paper products, fabric wash, and household cleaners.
Overview of FMCG Market in Punjab

Punjab is one of India's most developed industrial state. punjab is one of India's most well-
organized state with several cities along with many small andlarge scale industries.
Furthermore, Punjab per capita income is higher than the national average. Punjab per
capita income is increasing, indicating increased consumption. Punjab economic stability
has aided the spread of consumerism. The rural population of Punjab is 66.2% of the total
population, while the urban population is 23.8%, indicating lowe urbanization and
consequently increased consumerism.

Because of the rural high level of urbanization, the FMCG market in Punjab has a lot of
potential. In Punjab, FMCG products are sold through organized retailing and small-time
retail businesses. Food and beverage, personal care, health care, cleaning and disinfection
items, and other FMCG products are doing well in Chandigarh, Ludhiana, Hoshiarpur and
several other cities of Punjab. Almost all of the major FMCG companies have a presence
in Punjab, and they cater to all demographics.

Some of the major FMCG companies in Punjab

• Food products and beverage - Nestle, Kellogs, PepsiCo,Coca Cola, Uni Lever, Cadbury
India, Parle, Hienz, ITC, MTR, Perfetti, Tata Tea, Parrys Confectionery, Venkey's
Chicken, Goodricke, Nilgiris, Mother Dairy, Amul India, Gits Food Products Pvt. Ltd,
Kwality Walls, Vadilal Ice cream, Goodricke, SmithKlineBecham.

• Healthcare and Personal care - Johnson & Johnson, Himalaya Health Care, Modi
Revlon, Cavin care, Lakme, L'Oreal, Lotus Herbals, Shehnaz Hussain, Habibs, Procter
and Gamble,JK Helene, Gillette, Vatika, Colgate Palmolive.

• Elctronics - LG, Samsung, Sony, Phillips, Videocon, Elcetrolux, Whirlpool, Kelvinator,

Godrej, IFB, TCL, Haier, Panasonic, Sharp, Motorola, Nokia, Sony Erricksson, Compaq,
Lenevo, Hewlett Packard, Wipro, Acer.

• Cleaning and household insecticides - Reckkit Benckiser, Jyothy Laboratories, Godrej

Sara Lee.
District wise mostly produced items, that benefit FMCG companies to cater their
production based on availability of raw materials.
Export potential

Punjab offers a geographic advantage that can be used as a sourcing base for FMCG
exports. Punjab has a huge chance to export pre-prepared final goods such as sugar,
edibles etc with north Indian veggies to the enormous Asian ethnic community living in
developed countries. South East Asia, Pakistan, Afghanistan can be sourced from India
due to its reduced freight costs.
Investments made in Indian dairy industries to manufacture and package dairy food for
export to the Middle East, Singapore, Malaysia, Indonesia, Korea, Thailand, and Hong
Kong (through contract or local collaboration). Dry milk, condensed milk, ghee, and some
cheese varieties, which are used as ingredients in other countries, is exported as well.
Value-added items like packaged cheese sauce and dehydrated cheese powders are offered
to these markets. The soya products industry also has a lot of export potential.

Sectoral opportunities
According to the Ministry of Food Processing, India will require roughly US$ 28 billion
in investment to increase food processing levels by 8-10% by 2024, with 200 million
people likely to switch to processed and packaged foods by 2024. The lower penetration
rates in the personal care market also indicate latent potential.

The following are some of the most important sectoral opportunities.

• Branded and unbranded staples: While spending on mass-produced, low-margin staples
such as wheat, wheat flour, and homogenised milk is expanding dramatically as the world's
population grows, a market for branded staples is also expected to emerge. With the
popularity of branded rice and flour among the global population, investment in branded
basics is anticipated to rise. As basmati rice and sugar of Punjab has a huge market in
western countries. Most of the items are exported to Canada, united states.

• Dairy-based products: Punjab is one of the greatest producer of milk, yet only 15% of it
gets processed. For conversion and growth, the US$ 2.4 billion organised dairy business
needs a lot of money. Desserts, puddings, and other value-added items offer investment
prospects. The organised liquid milk industry is still in its infancy, but it has a lot of room
for expansion in the long run. Several companies in punjab are exporting cheese and milk
processed food to the international market.

• Packaged food: Only around 8-10% of output is processed and consumed in packaged
form, underscoring the industry's enormous growth potential. The semi-processed and
ready-to-eat packaged food industry currently has a market value of over US$ 70 billion
and is increasing at a rate of 15% per year. The expansion of dual-income homes, in which
both spouses work, has increased demand for quick foods, particularly in urban areas.
Increased health consciousness, as well as ample production of high-quality soyabean,
point to an increase in demand for soya foods.
 • Personal care and hygiene: In International market, the oral care business, particularly
toothpastes, is still underdeveloped, with penetration rates of less than 45 percent. The
potential for expansion is enormous, thanks to rising per capita earnings and increased
knowledge of dental hygiene. Potential up trading is also likely to be fuelled by lower prices
and fewer packs. According to the Centre for Industrial and Economic Research (CIER),
detergent consumption in the personal care segment is expected to climb to 4,180,000
metric tonnes by 2024-25, with an annual growth rate of 7% between 2018 and 2022.
Between 2019 and 2023, demand for toilet soap is predicted to expand at a 4% annual pace,
reaching 870,000 metric tonnes in 2023-24. Rapid urbanisation is predicted to drive
cosmetics demand to 100,000 metric tonnes by 2023-24, with a ten percent annual growth
rate.

• Beverages: The US$ 2 billion Indian tea market has been increasing at a rate of 1.5 to 2%
per year and is expected to continue to grow as Indian consumers switch from loose tea to
branded tea products. In the aerated drinks market, India consumes 6 bottles per capita,
compared to 17 bottles in Pakistan, 21 bottles in Sri Lanka, 73 bottles in Thailand, 173
bottles in the Philippines, and 605 bottles in Mexico. Between 2006 and 2012, India's soft
drink demand is predicted to expand at a 10% yearly rate, with demand reaching 805
million cases by 2022-23. Coffee chains and the introduction of instant cold coffee are
promoting per capita coffee consumption in India. Coffee demand is predicted to rise to
535,000 metric tonnes by 2023, according to CIER, with an annual growth rate of 5%
between 2016 and 2021.

• Edible oil: According to CIER, the demand for edible oil in global market is predicted to
climb to 21 million tonnes by 2011-12, with an annual growth rate of 7%.

• Confectionery: As India's young population grows, the need for confectionary products
will rise. In the long run, the industry is expected to increase at an annual rate of 8 to 10%,
reaching 870,000 metric tonnes by 2011-12.

It is becoming clear that if the economic process is to be accelerated, export growth is

critical. Now, in order to make exports competitive, the consumer goods must be both
cost-effective and of high quality. Export incentives also help to improve cost
effectiveness to a greater extent.
Punjab produces over 11% FMCG product. The simple availability of materials makes it
easier to locate this sector in Punjab. Despite various advantages, there is one major
disadvantage: the Punjab state's is not contributing enough as other state of india are
contributing such as Gujrat, Uttarpradesh.

Punjab, on the other hand, is obligated to put itself on a growth path in order to gain from
the possible export opportunity. An enabling policy environment, combined with product
and market diversification; the creation of an ecosystem that facilitates exports in general,
and by designing a framework that promotes entrepreneurship in new high-tech and
dynamic sectors in particular, would push the State to step up its export-led growth efforts.
Punjab's exports in Fmcg category would reach US$ 10.3 billion by 2022-23 if they grew
at the same rate as India's intended export growth of 12.3 percent (to meet the desired
export objective).

From US$ 110 billion in 2020 to US$ 220 billion in 2025, India's FMCG market is
predicted to grow at a CAGR of 14.9 percent. Despite statewide lockdowns, the Indian
FMCG business increased by 16 percent in CY21, a 9-year high, driven by consumption-
led growth and value expansion from higher product prices, notably for basics.
In the same quarter, the rural market grew by 14.6 percent, while metro markets grew for
the first time in two quarters. During the period 2015-20, final consumer expenditure
climbed at a CAGR of 5.2 percent. According to Fitch Solutions, real household spending
is expected to grow 9.1% YoY in 2021 after dropping >9.3% in 2020 due to the pandemic's
economic impact.

Punjab, as an economically advanced state, has attracted the attention of investors,

industrialists, entrepreneurs, policymakers, and agricultural scientists, among others, and
as a result, a number of studies have been conducted to better understand the nature of
industries, factors that facilitate business, state innate strengths and factor endowments,
and the suitability of business models, including sectoral studies looking at export
potential.
Every year, the Punjab Government's Department of Planning releases the "Economic
Survey of Punjab," which gives critical information on the state of the economy and
achievements in various sectors of economic and social activity. It also includes key data
abstracts, statistical atlases, newsletters, and other materials that provide light on the rising
issues that Punjab's economy faces in the changing global economic climate.

Key Players In FMCG companies in Punjab

• Nestle India
• Hindustan Unilever Limited
• Cremica Food Industries
• Bisleri
Manufacturing Competitiveness In FMCG sector

There is a lot of resistance here. The FMCG sector in India is very competitive, and this
trend is projected to continue in the next years. According to the July 2005 reports of the
Associated Chambers of Commerce and Industry of India (Assocham), the FMCG sector
in India is most expected to increase by more than 50% in semi-urban and rural areas by
2010.
The industry is expected to increase at a 10% annual rate, reaching a market size
of'100,000 crores by 2010, up from'48,000 crores in 2005.
Due to increased disposable income, Indians in both rural and urban areas are consuming
a huge volume of rapid moving consumer items. As a result, a slew of fast-moving
consumer goods (FMCG) companies have sprung up in India to accommodate expanding
consumer demand. Over time, the rural market has grown dramatically. Nirma, HLL,
Dabur, ITC, Godrej, Britannia, Coca-Cola, and Pepsi are some of the FMCG firms that
have seen substantial growth in India in recent years.
The removal of trade barriers spurred multinational corporations to invest in the Indian
market in order to meet customer demands. Living standards improved in the urban sector
as a result of higher disposable income and greater purchasing power of rural families,
resulting in increasing sales volume for various FMCG businesses in India.
HLL, Godrej Consumer, Marico, Henkel, Reckitt Benckiser, and Colgate are large-scale
corporations that have targeted rural consumers and developed their retail chains in mid-
sized towns and villages. Nestle, on the other hand, has traditionally targeted the urban
Indian market and concentrates mostly on value-added products for the upper middle and
high class.

The Future of the Indian FMCG Industry

Today's consumers have a vast choice of FMCG product options from which to choose.
In the FMCG business, there is a lot of rivalry because there are a lot of aspects to consider
while marketing items. This clearly indicates that only the most forward-thinking
individuals will be able to survive this fierce battle. Investors must be extremely
responsive to market demands and develop strong and effective distribution channels.

From US$ 110 billion in 2020 to US$ 220 billion in 2025, India's FMCG market is
predicted to grow at a CAGR of 14.9 percent. Despite statewide lockdowns, the Indian
FMCG business increased by 16 percent in CY21, a 9-year high, driven by consumption-
led growth and value expansion from higher product prices, notably for basics. In the same
quarter, the rural market grew by 14.6 percent, while metro markets grew for the first time
in two quarters. During the period 2015-20, final consumer expenditure climbed at a
CAGR of 5.2 percent.
According to Fitch Solutions, real household spending is expected to grow 9.1% YoY in
2021 after dropping >9.3% in 2020 due to the pandemic's economic impact. According to
CRISIL Ratings, revenue growth in the FMCG sector will double from 5-6 percent in
FY21 to 10-12 percent in FY22. Price rises across product categories, as well as volume
growth and a comeback in demand for discretionary items, are driving growth. Despite
lockdowns in several sections of the country, the FMCG industry rose by 36.9% in the
April-June quarter of 2021.
In the September quarter, the number of households buying on the modern-trade channel
increased by 29.15 percent year over year, while shopping volume increased by 19.2
percent.
Rural FMCG consumption climbed by 58.2 percent year on year in September 2021,
which is twice as much as urban consumption (27.7 percent).
Due to several government programmes (such as packaged staples and hygiene
categories); high agricultural produce, reverse migration, and a lower unemployment rate,
rural India saw a double-digit growth recovery of 10.6 percent in the third quarter of FY20.
The FMCG market will be driven by an increase in rural consumption. By 2025, the Indian
processed food market is expected to reach US$ 470 billion, up from US$ 263 billion in
2019-20.
FMCG behemoths like Johnson & Johnson, Himalaya, Hindustan Unilever, ITC, Lakmé,
and others (which have controlled the Indian market for decades) are now up against D2C
start-ups like Mamaearth, The Moms Co., Bey Bee, Azah, Nua, and Pee Safe. Market
leaders like Revlon and Lotus required 20 years to reach the Rs. 100 crore (US$ 13.4
million) revenue threshold, whilst newer D2C companies like Mamaearth and Sugar took
four and eight years, respectively.
In 2020, companies with dedicated websites saw an 88 percent increase in consumer
demand year over year. Since then, more firms have begun to follow the D2C model, and
India today has over 800 D2C brands, with a market potential of US$ 101 billion by 2025.
In October and November of 2021, e-commerce companies recorded sales of US$ 9.2
billion across platforms, owing to increased buying during the holiday season. Flipkart
Group emerged as the industry leader with a 62 percent market share throughout the
festive season.
The July-September quarter had a solid increase in television advertising volumes, with
461 million seconds of advertising, the highest in 2021. With a 29 percent increase in ad
volumes compared to the same period last year, FMCG maintained its dominance. Even
the e-commerce sector is expected to grow by 26% by 2020.
The manufacturing sector is the backbone of the Indian economy, with the potential to
create millions of jobs and contribute to poverty reduction. • Its significance is
demonstrated by the fact that the manufacturing sector employs around 9% of the entire
workforce, which is estimated to be around 36 million people when organized and
unorganised sectors are combined. • The country's manufacturing sector is beset by low
labour productivity, a scarcity of skilled labour, outdated technology, high taxes,
unfriendly laws, and cheap imports from other countries. • With 75% of the working
population only having completed middle school or less, the manufacturing sector can
only absorb the country's enormous labour pool. (CISCO) • Taking up more than half of
the total workforce employed in agriculture and generating only 22% of the GDP,
manufacturing sector has great potential to employ people and increase income levels
States' Manufacturing Competitiveness Strategy:-
Each state's manufacturing industry is at a distinct stage of development, different
strategies for improving manufacturing competitiveness are required. States with Strong
Manufacturing Capabilities – An Innovation-Driven Approach To increase their
manufacturing efficiency, these countries must move toward higher technical innovation.
These states should invest in creating sophisticated manufacturing skill sets in order to
improve their export competitiveness. Cluster Development Strategy for Weaker
Manufacturing States These states should focus on the MSME sector and use a cluster-
based approach. They need to provide additional tax advantages, lower electricity costs,
and improve logistics to encourage more private investment in the area. Factor-Driven
Strategy for Medium Manufacturing States These states must concentrate on lowering the
prices of production inputs, developing the correct set of skills and ability, and removing
impediments to doing business. To attract investments and boost productivity, states
should establish public-private partnerships.
 Punjab
Despite its agrarian economy, Punjab has seen a quick expansion of a robust FMCG sector
that caters not just to internal needs but also contributes considerably to export markets.
However, the path to success hasn't been easy. Punjab's fmcg sector has recently suffered
setbacks, resulting in good growth in both absolute and relative terms. Along with tracking
the historical evolution of the manufacturing sector in the rural state of Punjab, this study
compares its growth to that of Haryana and Himachal Pradesh from 1970–71. It also
compares and contrasts Punjab's fmcg policy framework with that of Haryana and
Himachal Pradesh.
"Leveraging the Cost Advantage" has a cost advantage over other countries due to its
cheap labour and high-quality products and services. For 100 percent export-oriented
enterprises, the government has even given $0 import tariff on capital items and raw
materials. Multinational corporations outsource their product requirements to an Indian
firm in order to save money. In addition to livestock, milk, sugarcane, coconut, spices,
and cashew, India is the world's second-largest producer of rice, wheat, fruits, and
vegetables. It also provides a cost advantage and readily available raw resources.

Opportunities in Different Sectors:-

The following are the major key sectoral opportunities for the Indian FMCG sector

: a) Dairy-based items
Despite the fact that India is the world's greatest producer of milk, only about 15% of it is
processed. The organised liquid milk industry is still in its infancy, but it has a lot of room
for expansion in the long run. There are even investing prospects in value-added products
such as sweets and puddings.
b) Packaged Food
Only around 10% to 12% of total output is processed and eaten in packaged form,
underscoring the industry's enormous growth potential.

Dental Hygiene
In India, the oral care business, particularly toothpastes, is still underdeveloped, with
penetration rates of around 50%. The potential for expansion is enormous, thanks to rising
per capita earnings and increased knowledge of dental hygiene. Lower prices and smaller
packs are also likely to increase trade opportunities.
d) Alcoholic beverages
Unorganized players dominate the Indian tea business. Unorganized players control more
than half of the market, indicating that organised players have a lot of room to grow.
Findings in contrast of FMCG

HARYANA emerges as the best performer among landlocked states in terms of FMCG
opportunities. With the exception of trade support and export growth and orientation, the
state has excelled in all pillars and sub-pillars.
Some of the weaker states in this group are Bihar and Chhattisgarh. They must increase
their performance in the context of the corporate environment. Because they show a clear
link between the export ecosystem and export performance, the export ecosystem and
export performance pillars are important.
There aren't enough enabling and supporting conditions to encourage states to pursue
export-oriented growth. A policy measure alone will not be sufficient to encourage export
business and growth in an area.
Even while Bihar has the necessary policy measures in place, it lacks the infrastructure to
support an export-friendly climate. UTTARAKHAND and DELHI are the highest-
performing Himalayan states and city-states.
Because it is the national capital, Delhi performs highly on the EPI because to larger FDI
inflows, better transportation links, logistics, and investment. Delhi's high score in the
business environment sub-pillar is due to its strong performance on the innovation index.
Uttarakhand, on the other hand, has seen tremendous investment during the last three
years. It has implemented single-window clearances, a credit programme for exporters, a
trade guide, and increased export market penetration.

Recent Transmission in FMCG sector (Punjab)

Fast-moving consumer goods (FMCG) distributors have asked the government for
financial aid to help them get out of a financial bind created by growing inflation, which
has been fueled by rising gasoline prices as a result of the ongoing conflict between Russia
and Ukraine.

FMCG businesses, on the other hand, pressurise them to obtain more material. All of these
factors have made it tough for firms to stay afloat. They are not receiving consistent
payment from the market at this time. All of these reasons are putting distributors in
financial jeopardy. The FMCG group also stated that they did not receive any government
assistance throughout the outbreak. Now is the time for the government to lend a hand.
During the current China-lockdowns and the Russia-Ukraine war, the Indian consumer
electronics industry continues to experience raw material shortages.

"Rising raw material costs due to rising fuel prices, component shortages, commodity
price inflation, supply chain disruptions, and increased demand for air conditioning
solutions in both B2B and B2C markets is forcing brands to raise product prices."
The micro, small and medium enterprises in contrast to FMCG production in Punjab have
traditionally been a stronghold of the State. Some of the major industries in this segment
for Punjab have been edibles, electronic equipment, auto parts and hosiery units. The
presence of big players in Punjab since years have especially made the journey for the
MSME sector, a successful one. However, many industries in this sector have been
meeting the same fate as that of the farmers.

The biggest issue being faced by the MSME sector is the shortage of the skilled labour.
One of the key factors determining this problem is the seasonal migration of the labour to
agriculture when the paddy sowing season initiates. As a result, the garment and the
hosiery industry of Ludhiana, which is one of the major contributors to the exports of
Punjab, suffers due to the mismatch in the demand and supply of the labour.
Thus, the daily wage for the skilled labour increases to ₹433-₹500 per day vis-à-vis ₹366
during the me when there is no shortage. The exports from Ludhiana, as a result, to
destinations such as Europe and Russia, become less competitive.

References
• https://competitiveness.in/manufacturing-competitiveness-report/
• https://www2.deloitte.com/us/en/insights/industry/manufacturing/understanding-high-
performance-manufacturing-competitiveness.html
• https://www.academia.edu/40429551/Performance_Analysis_of_FMCG_Sector_in_India
• https://www.alliedmarketresearch.com/fmcg-market
 Peer rating of the group

Name of Student Section Regn no. Peer rating marks

(10)

Gaurav Anand Q2150 12104098 10

Kumar Kishlay Nayan Q2150 12104105 10
Aditya Kumar Singh Q2150 12105346 07