Business & Finance

Mohammad Anas Wahaj | 14 feb 2015

'Startup Village', founded in 2012 in Kochi (Kerala), is India's first Public Private Partnership (PPP) technology business incubator jointly promoted by the Department of Science and Technology, Government of India, Technopark and MobME Wireless. According to Mayor of Menlo Park, Catherine Carlton, 'We are extremely impressed by the talent of the youngsters here as well as by the kind of support that the government is extending. We will be very pleased to welcome selected start-ups, possibly 100 companies this year, to Silicon Valley and provide them an opportunity to expand and grow their business there'. She was here to sign a twin city agreement with Kochi Mayor Tony Chammany to boost partnerships between Menlo Park and Kochi. Sanjay Vijayakumar, Chairman of Startup Village, said 'We aim to boost Landing Pad, a project supported by the Kerala Government at the Silicon Valley, through this new tie-up. Read on...

IBNLive: 100 Indian tech startups may get to learn 'how to build a billion dollar company' in Silicon Valley
Author: NA

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Mohammad Anas Wahaj | 04 feb 2015

Entrepreneurs and entrepreneurship are important constituents of the business ecosystem and play an important role to build a thriving economy. Entrepreneurs take risks and channelize resources to create products and services, and develop businesses and organizations taking them in the direction they consider would generate profits for the stakeholders. Entrepreneurs need skills, both inherent and acquired, to build lasting and successful businesses. A. K. Mishra, Founder and Director of 'Art of Success', provides set of specific skills for entrepreneurs to succeed in a competitive and dynamic business environment - (1) Creativity (2) Teamwork and Determination (3) Functional Knowledge of Business (4) Risk-Taking Capability (5) Patience. Read on...

The Financial Express: Entrepreneurship skills required for 2015
Author: A. K. Mishra

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Mohammad Anas Wahaj | 31 jan 2015

Last year India became the first country to pass CSR (Corporate Social Responsibility) as a law that requires corporates (Net Worth of Rs 500 crore or more; or Turnover of Rs 1000 crore or more; or Net Profit of Rs 5 crore or more) to compulsorily spend 2% of their net profits on social development annually. Recently PM Narendra Modi made 'Make in India' concept as part of government's policy and program to encourage and boost local manufacturing industry and make it a global hub. There are steps that are expected to be taken by the government to promote skill development among the youth to fulfil this mission. According to National Skill Development Corporation (NSDC) the growing skill gap in India is estimated to be more than 250 million workers across various sectors by 2022. NSDC is a public-private partnership (PPP) initiated for skill development. Corporates can support the skill development programs and projects as part of their CSR activities. This collaborative approach will be a win-win for government, businesses and public, as it develops skilled workforce for companies, jobs for the unemployed and thriving economy for the nation. Read on...

Forbes: Skill Building through CSR: The Catalyst for 'Make in India'
Author: Vishesh Agarwal

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Mohammad Anas Wahaj | 29 jan 2015

According to World Bank, remittances to India i.e. money transfers by Non-Resident Indians (NRIs) employed outside India (about 14 million Indians) topped the chart and were US$ 71 billion in 2013-14. Promoth Manghat, vice president of global operations at UAE Exchange, says 'Remittances from the UAE to developing countries, including India, increased by 8 to 10 per cent between 2013 and 2014.' Transfer operators cite the stregthening of dollar against Asian currencies as one of the main driver for remittances. According to Sudhesh Giriyan, COO at Xpress Money, their top performing markets are India, Pakistan, Bangladesh and Philippines. Read on...

Gulf News: UAE remittances: Who sends home the most money?
Author: Cleofe Maceda

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Mohammad Anas Wahaj | 23 jan 2015

Recent report by IHS, released at World Economic Forum (WEF) at Davos, observed that India's economy is expected to grow faster than that of China's in the next few years. Moreover International Monetary Fund (IMF) also forecasts that India's economy would grow at 6.3% in 2015 and at 6.5% in 2016, overtaking China's projected rate of growth (2014 growth rate- China 7.4%, India 5.8%). Nobel Laureate & economist Paul Krugman while speaking on Indian economy recently commented that, 'The Indian economy has the potential to grow significantly, but a political struggle by the government to implement reforms may pose a challenge.' He further points out, 'The structural transition being attempted by China to become a consumption-driven economy from an investment-driven economy may lead to a "nasty recession". This could throw up opportunities for India, which is in the process of implementing structural reforms.' Read on...

The Financial Express: India better positioned than China for growth: Krugman
Author: Aveek Datta

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Mohammad Anas Wahaj | 22 jan 2015

According to report 'Aarogya Bharat 2025' by NATHEALTH and Bain & Company, for sustainable growth India requires investments of US$ 3 trillion for the next 10 years. India's healthcare system is both under-served and under-consumed, threatening the continued economic progress. Shivinder Mohan Singh, President of NATHEALTH, says, 'At 1.3% of the GDP, public spending on healthcare in India is among the lowest across the developing countries and affects the poor and inaccessible rural areas the most.' Bain & Company's Karan Singh points out the need for healthcare spending to go to 6% of the GDP and suggests a required paradigm shift from curative to prevention and wellness. According to NATHEALTH's Founder Chairman, Prathap C. Reddy, to built a healthier India government cannot be the sole provider of health services but private sector has to play an important role to bridge the demand-supply gap. Read on...

Business Standard: Healthcare sector needs USD 3 trillion in 10 years
Author: NA

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Mohammad Anas Wahaj | 08 jan 2015

India requires substantial finance to fulfill the challenges of providing clean, affordable and reliable supplies of water and energy to its 1.3 billion citizens, and invest in enterprises that will provide livelihoods for an extra 10 million jobseekers every year. Moreover there is also need for level playing field of sustainability standards within the financial system. According to Naina Lal Kidwai, country head for HSBC India, 'For too long, a view has been allowed to take root in India that sustainability and finance are at odds; that taking account of environmental, social and governance (ESG) factors raises costs, reduces returns and impedes development.' To scale up sustainable finance, Federation of Indian Chambers of Commerce and Industry (FICCI) and the UNEP Inquiry have formed an advisory committee of leading financiers, policymakers and civil society representatives to generate practical policy options. Financial innovation is the essential need with mobilization of debt and equity capital markets. Investments in sustainable agriculture, clean energy, efficient buildings, mass transit, smart cities, clean water and waste provides the foundations for a thriving green bonds market. On India's equity markets, the new Infrastructure Investment Trust model offers another vehicle for investors to put money into sustainable infrastructure. Read on...

the guardian: Investing in India requires sustainable, reliable finance
Author: Nick Robins

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Mohammad Anas Wahaj | 22 dec 2014

According to World Bank data for 2012, manufacturing as a percentage of Gross Domestic Product (GDP) for India is only 14.07%, while some of its neighbours like China (31.83%-2011 data), Sri Lanka (17.88%), Bangladesh (17.56%) and even Pakistan (14.47%), are ahead of it. On the other hand, two of its BRICS friends, China and Russian Federation (14.85%) are above, and two others, Brazil (12.95%) and South Africa (12.09%) are below it in their manufacturing activities. Although PM Narendra Modi's 'Make in India' campaign helps in providing focus and direction but a lot is desired and to be done on the ground by both the government and the private sector to uplift the lagging manufacturing sector. If the specific state-level data for current manufacturing activity is considered there is a clear disparity, with top 5 states accounting to 56% of the national manufacturing - Maharashtra (18.3%), Gujarat (12.8%), Tamil Nadu (9.9%), Uttar Pradesh (8.3%), Andhra Pradesh (6.4%). Barring a few exceptions like Gujarat, Himachal Pradesh and Odisha, the relative importance of manufacturing has been stagnant or have declined over time. Read on...

Livemint: The Make in India dream
Authors: Pramit Bhattacharya, Dipti Jain

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Mohammad Anas Wahaj | 28 nov 2014

Advancements in Internet of Things (IoT) with expanded internet access and connectivity through various devices, gadgets and machines, also brings security risks. Security community has to be prepared to face variety of cyber attacks and plug loopholes and vulnerabilities. Symantec's APJ (Asia-Pacific/Japan) security predictions for 2015 explores issues that will affect individual customers, businesses and governments in the region - (1) Attacks on the Internet of Things (IoT) will focus on smart home automation. (2) Mobile devices will become even more attractive targets. (3) Machine learning will be a game changer in the fight against cybercrime. (4) Privacy will continue to be sacrificed for mobile apps. (5) Scammers will continue to run profitable ransomware scams. (6) The prominent data leaks of 2014 will keep cybersecurity in the spotlight in 2015. (7) Distributed denial-of-service (DDoS) will continue to rise as a threat. (8) User behaviour will take centre stage as security moves beyond passwords. (9) The Cloud will take us to Infinity and Beyond. (10) The front lines of cybersecurity will be strengthened by closer industry partnerships and collaborations. Read on...

InformationWeek: Top 10 security predictions for 2015
Author: NA

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Mohammad Anas Wahaj | 27 nov 2014

India has a rural population of about 80%, and according to a Deloitte report 60% of the hospitals are situated in the urban areas. Another study by Indian Institute of Public Opinion found that 89% of rural patients in India have to travel about 8 kms to access the basic healthcare and the rest have to travel even more. This data shows a huge rural-urban healthcare divide in India. To bridge this gap with the help of advancements in mobile technologies a collaborative effort between Balabhai Nanavati Hospital (BNH) and UST Global resulted in a telemedicine app that connects rural communities to medical specialists in tertiary hospitals. It eliminates the cost of travel and provides affordable care to rural population. According to Bipin Thomas, President of UST Global Health Group, 'As the app connects tertiary hospitals to primary and secondary care hospitals in remote locations where patients can get primary care consultation, only those requiring advanced treatments or surgeries will need to travel to specialty hospital in city centres. Mobile collaboration technology also helps multiple specialists to attend to a case.' He further adds, 'We are also looking to add more advanced features including integration with Google Glass, wearable medical devices, telecardiology and teleradiology in our future releases.' Read on...

InformationWeek: Indian hospital shows how mobility can improve healthcare
Author: Jasmine Kohli

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