Business

A two day “Startup India Summit” held in Abu Dhabi, UAE was organized by the Indian embassy in Dubai and Consul G haveeneral of India in partnership with Indian Software Products Industry Round Table (iSPIRT).

This provides a single platform for both India and UAE to come together to collaborate with investors and stakeholders for different sectors like technology, medicine, software, and Artificial intelligence.

Objectives

The Indian ambassador said  “Different companies are at different stages of evolution and certain number of them are looking to grow further. Several others offer attractive investment opportunities. So, we hope to give them an opportunity to mix with the UAE investors, private businesses, sovereign funds and investors. Another objective is to change perceptions that India is not just an outsourcing capital, but has also got innovators and entrepreneurs.”

Impact

1. Dubai is a big financial hub, whereas India is one of the biggest startup hubs in the world. This will provide a big investment opportunity for UAE to invest in the country’s booming market.

2. It will increase the Foreign Direct Investment (FDI) of the country.

3. It will boost the startup companies to invest more in future by getting an access to funding opportunities.

4. This will help to improve the trade relations between the nations involved in the summit in the long run.

On the whole, the startup Indian Summit provides the startups funding, which acts as a source of investment for the nations involved in the summit as they will get benefited in the long run through the investments they make in these diverse startup ideas. So if you look at the big picture, both the startup and the investors are benefited and hence there is partnered growth.

This startup Summit will prove advantageous for both India and UAE and provide a platform for investors to invest in different companies.

 

 

India’s biggest telecom company, Airtel has agreed to tie up with Ola to provide digital payments solution. In the growing economic market, Airtel and Ola will provide convient digital services for their customers.

Ola had introduced a seperate online wallet, called “Ola money ” which enables the customers to make cashless payment. Meanwhile, Airtel has also introduced “Airtel money” which helps the customers to send money, pay bills and recharge directly from your phone.

Airtel payments bank, a joint venture between Bharti Airtel Ltd and Kotak Mahindra Bank Ltd, will intergrate with Ola to provide digital services to their customers through MyAirtel App and Airtel website. Airtel Payments Bank (APB), was introduced to enable digital payment of goods and services over mobile phones. It offers facilities like cash deposit and Open Savings bank account. Ola has integrated with APB to create a single payment platform for the cab riders.

“At Ola, we are always focused on innovating and building on the mobility experience for customers as well as driver partners. This first-of-its-kind partnership brings a host of offerings from two massive ecosystems together.  Airtel will integrate its offerings across payments, content, PoS networks, and more with Ola’s offerings for its large customer and partner base”.  said Bhavish Aggarwal, CEO and Co-founder at Ola.

The partnership will prove advantageous for both the companies as Ola will act as a retail seller for Airtel and Airtel retail points will help the customers book an Ola ride through kiosks. The partnership will provide an in-car entertainment system through Ola play and various value added services.

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Cybersecurity is the body of technologies, processes and practices designed to protect networks, computer programs and data from attack, damage or unauthorised access. In a computing context, security includes both Cybersecurity and physical security.

In the most disruptive form, cyber threats take assets of a nation or its people.

Bad Cybersecurity practices ought to hurt a company right?

Yes, but only if users come to know of the security breaches at the companies and brands they have signed up for, with or without sensitive information.

The issue came to the fore a few weeks ago, when fast food chain McDonald’s India asked users to update its app as a “precautionary measure”. It further said that the app doesn’t store sensitive financial information of its users and that it is safe to use. The McDonald’s statement didn’t come from nowhere. It came on the back of a blog post by Cybersecurity start-up.

Fallible which had  noted that the McDonald’s app is leaking the personal data of more than 2.2 million of it’s users which includes name, email address, phone number, home address and social profile links. In the end McDonald’s neither rejected the report nor accepted the breach.

Fallible in this called ‘the security of Indian payments infrastructure’ a joke. It said, vulnerabilities in major payment gateways and wallets include multiple ways of data leak, monetary loss, private keys leak and more. This is not different from many other risk assessments.

It does seem some corporates are taking note. Some board members and executives of the Indian companies have said they lack confidence in their organisation’s level of Cybersecurity. However Cybersecurity hardly gets top management attention in India, as it is viewed merely as an IT issue. Making breaches public should be mandatory and is the wake up call companies need. It would then become a customer facing issue and management will be all ears.

We all will realise that good Cybersecurity can be good marketing.

Nothing great in life was ever achieved by someone without taking a bold risk. Whenever a person thinks of starting something new, there is always some fear factor. Questions can arise in his mind , like how to start, where to start, what resources I need etc.  It is the courage and the confidence which leads him to do something different and that leads him to take the road not taken by others.  Today’s education system is focussing more on making the students academically strong. It is the responsibility of the teacher to shape the future of the student. The teacher has to identify what talent lies in which student.  Most schools have pre determined syllabus which can never let the student think out of the box. They are just confined within the syllabus of their curriculum. Education system has made a linear path for the students from Kindergarten to University and then campus placements. Innovations and inventions never know that path. Most of the inventions were made by accident.

Studies say that 60% students of an American university, who are in their 20’s want to start their own business.  Internet has provided a great platform to young minds to think on their own and to become an entrepreneur.  Companies like Snapdeal, Flipkart, Oyo Rooms, Zomato, Redbus, Paytm and many more have a strong business backbone provided by internet. There are a number of opportunities young minds can make use of even if they are not very good in academics. Becoming great and becoming successful are two different things. There is an increasing rate of job insecurity and uncertainty. So, there is an increasing impact made by the start-ups on young minds and young entrepreneurs. Even with increasing number of students, there is an increase in cut throat competition in almost all the fields.  A degree from University or a college is no more promising for good jobs or brighter future. A huge number of students receive degrees every year, but in this competitive job market, does every student get a good job for what he or she has studied ?

Most of the skills which are needed in the students are not even taught and they are being taught skills which are not even required. Most of the engineering graduates end up in sales job and they don’t know how to sell. Students are becoming unsure about their career path and don’t want to depend on 9 to 5 job. So they begin to start on their own.

Start-ups are nothing but an out of the box idea put in a commercially practical way. Entrepreneurs identify the needs of the people and then come up with an idea which can help the people of the society and are economically feasible. They find out in what way they are special, and in what thing they are different from others.  The innovative ideas and innovative thoughts have great potential to bring a technological revolution in the country. These ideas should not go waste, so government also takes steps to improve the financial condition of the risk takers, so that the young entrepreneurs can go in the right direction. Young entrepreneurs should not suppress their ideas at all.

Startup India, Standup India campaign is also based to encourage the ideas of young entrepreneurs to become industrialists. They can be funded from the banks so that their plans have a strong financial background.  If the ideas are fresh, they have new ways to get implemented and new ways to work upon. This will also create new job opportunities for other people as well.

 

 

 

 

  • The ever largest consolidated deal has been made between Reliance Communications (R.com) and Aircel today.
  • The deal is a merger between the two on merging of wireless operations and also to create an entity with total assets worth Rs. 65,000 crore and net worth of Rs. 35,000 crore.
  • com and Aircel owned by MCB (Maxis Communications Berhad), about 74% share will have 50-50 share in the merger.
  • This merger will going to benefit to both the companies: Reliance will be able to clear its debt up to Rs. 20,000 crore or $3 billion and Aircel debt will go down by Rs. 4,000 crore or $600 billion on the closing of the financial year 2017 (expected).
  • By this deal, it is expected that R.Com-Aircel will be second largest Telecom players in India with total 19 crore users. However, at first, is Airtel with 25 crore users.
  • After, introducing Jio sim concept in the telecom market, this step is expected to work in favor of both the companies.

  • Mukesh Ambani launched his new telecom venture Reliance Jio 4G.
  • Mr. Ambani in his speech revealed his vision regarding Reliance and proclaimed many cost-effective data and tariff plans.
  • His speech was full of words “Free”, “largest”, “biggest” making Jio an irresistible offer
  • He announced that Jio will offer 1GB data for Rs.50 and free voice calls and roaming.

  • Other market players such as airtel, idea also have slashed their price in order to cope up with the its offer as it has created a tension in the minds of the market leaders.
  • The shares of the Bharti Airtel fell by 9% and Aditya Birla Grous’s Idea had lost 11% share. Altogether they have lost 12,000 Crore.
  • Romal Shetty, partner at KPMG said that” existing operators have to match their tariffs in order to maintain their subscribers, which means there will be reduction in average revenue per user and hence will effect EBITDA”
  • He further said that current operators will face a lot of loss in next 12-18 month because of the massive disruptions” from Jio’s formal launch.

Only 14 days left for the Raghuram Rajan Rajan’s period. As he resigned from his post months back which is going to end on 3rd September.
A panel including Finance Minister Arun Jaitley and Prime Minister Narendra Modi on Thursday held an hour-long discussion over the appointment of a new RBI Governor, a post that will fall vacant on September 4.
Urjit Patel has been appointed the Reserve Bank of India (RBI) Governor, who was serving as Deputy Governor till now. He is known as an expert on inflation and has also been with the IMF and the Boston Consulting Group.
“The appointment has been made based on the recommendation of the Financial Sector Regulatory Appointments Search Committee (FSRASC), headed by the Cabinet Secretary. The Committee undertook an extensive exercise to suggest a panel of names to the Appointments Committee of Cabinet (ACC),” a statement from the ACC said.
In September 2016, Urjit Patel will take over as the 24th Governor of the Reserve Bank of India.

  • One of the major car manufacturer Toyota said to NGT that  banning the registration of the diesel cars all over the nation is like corporate death penalty .
  • In its appeal, Toyota said that its unfair and unjust as it was abiding with the law & any restriction will result in fall in sales and would affect the livelihood of people engaged in the automobile sector.
  • On December 11 2015,  the NGT has banned registration of new diesel-run vehicles in Delhi-NCR stating that diesel was the major source of pollution.
  • The comany argued that the thought that diesel adversely affects the environment and is largely responsible for air pollution is completely “misconceived and misplaced”.
  • The company further stated that it has invested approximately Rs 1200 crores in a high performance, high technology diesel engine project in Karnataka.

profit
Automobile King Maruti Suzuki India Ltd. expected a rise in its Q1 net profit,
  • Automobile King Maruti Suzuki India Ltd.  on 26 July expected a rise in its Q1 net profit, as higher sales offset the adverse impact of an unfavourable foreign exchange rate.
  • Maruti Suzuki said that its net gain for April-June quater was 14.86 billion rupees, up from 12.08 billion rupees, & net sales rose about 12%.
  • Profits from Maruti is gaining importance for parent Suzuki as its recovering from an emissions testing scandal at home.
  • Suzuki’s stake in Maruti is worth $11.5 billion,  nearly 80 per cent of the Japanese company’s $14.5 billion market value.
  • Net profit came in well ahead of expectations also due to “lumpy other income” due to changes in accounting methods in India starting this fiscal year from April1.

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