Recent Business Updates in India
- After Mahindra and Terra Motors, now Rajkot-based listed three wheeler major Atul Auto Limited launched four-seater passenger e-rickshaw in January this year.
- Stellaris Venture Partners, an early-stage technology-focused venture fund, announced that it has completed the first close of its $100 million maiden funds with capital commitments from financial institutions, corporates, entrepreneurs, and family offices in the United States, Europe, and Asia.
- Google in association with industry body, FICCI has launched Digital Unlocked — a training program to enable SMBs to get online and start using the Internet to grow their business. Over the next three years, 5,000 workshops will be held across 40 Indian cities.
- In budget 17-18 Rs. 1,26,000 crore received as energy production based investments and. Trade infra export scheme will be launched 2017-18 to strengthen the trade infrastructure of India.
- Ford Motor Co. plans to invest US$ 189.2 million in building a global technology and business centre in Chennai, which will be designed as a hub for product development, mobility solutions and business services for India and other markets.
- JW Marriott plans to have 175-200 hotels in India over the next four years.
- Market Observations
- A smart step was taken by Prime Minister Sh. Narendra Modi was demonetization in attempting to combat the black economy and counterfeiting and cutting financial support to terrorism
- The GDP growth rate has held up at more than 7% for two consecutive years.
- Foreign direct investment went up significantly during the year. (It rose 30% on a year-on-year basis to $21.6 billion between April and September 2016.
- Initiatives such as the ‘Make in India’ program have borne early fruits.” Many MNCs including Panasonic and Pepsi set up manufacturing facilities in India during the year.
- India’s Smart Cities Mission is meant to provide core infrastructure and improve the quality of life in 500 metropolitan areas. The government plans to spend $7.2 billion and $7.5 billion on the Smart Cities Mission and the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) respectively over the next five years.
- Stories Around Business
- Google recently launched Primer, a free mobile app designed to teach digital marketing skills in a quick, easy and interactive way.
- Karnataka's IT minister said Apple had agreed to assemble its hugely popular phones in the southern State, whose capital Bangalore is India's technology hub.
- Apple Inc, the leading smartphone company has announced its plans to set up a phone manufacturing in Bengaluru, in a bid to make its range of smartphones more affordable and increase its hold in one of the fastest growing economies in the world.
- Apple Inc also has started its first development center outside the US in Hyderabad, which will employ over 4,000 people and focus on Apple Maps, the company’s digital maps, and navigation service.
- Global beverage company Pepsi plans to invest Rs 500 crore (US$ 72.8 million) to set up another unit in Maharashtra to make mango, pomegranate, and orange-based citrus juices, while biotechnology giant Monsanto plans to set up a seed plant in Buldhana district of Maharashtra.
- Stories In and around India
- India will base its first squadron of Rafale fighter jets in Bengal to gradually build deterrence against China.
- Finance Minister Arun Jaitley unveiled measures to leverage India’s “huge demographic advantage” and maximize the employability potential of the youth, and also announced a Rs 4,000 crore program, Skill Acquisition and Knowledge Awareness for Livelihood Promotion Programme (SANKALP), aimed at providing market-relevant training to 3.5 crore youth across the country.
- The second Phase of Skill Strengthening for Industrial Value Enhancement (STRIVE) will be launched in 2017-18 at a cost of Rs 2,200 crore. STRIVE will focus to improve the quality and the market relevance of vocational training provided in ITIs and strengthen the apprenticeship program through industry cluster
- In line with the increase in digital transactions in the country and low awareness of the general public about financial safety measures, computer emergency response teams are being set up for the financial sector to safeguard people against any fraudulent transactions.
- The Quality Council of India has started a Zero Effect Zero Defect (ZED) Programme to Train MSMEs in manufacturing products with zero defects and zero effect on the environment.
- Office’s/partner’s achievements of the month
- Recipient of an award from Glocal University by one of the Senior Managers of the company for conducting digitalization drive in Moradabad to attract people from handicrafts industry towards digitalization, this is in line with the vision of Prime Minister Sh. Narendra Modi towards a digital economy.
- Managing Director of TMIPL Sanjay Nagi has been engaged by Quality Council of India(QCI), for providing training to Master Trainers I.e. Train the Master Trainer(TTMT) as a part of Zero Effect Zero Defect (ZED) program for providing 6, week-long training sessions for QCI.
- New and unique offering of Tomorrow’s Market Innovators Private Limited
- TMIPL has started a division for content writing and has got exclusive contracts from the Ministry of Urban Development(MoUD) for the development of scripts for e-learning modules that will educate municipal commissioners across the country about best practices in waste management.
- TMIPL has been working for Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ) for content development for the writing of scripts for City Sanitation Plans and Solid/Liquid Waste Management.
- Why Company should invest in India
India is one of the fastest growing economies in the world growing at a rate of more than 7% for consecutive years. Also, India is a rapidly growing Urban Market with 23.1 Million people shifting from rural to urban areas in two decades. The government is constantly raising the limits on FDI in various sectors. In a bold move that will help 96% of the companies in India, the government reduced the income tax of Companies with annual turnover less than Rs 50 Crore from 30% to 25%. The government is also offering Permanent Residency Status (PRS) to investors. Under the scheme, Foreign investors will have to invest a minimum of Rs 10 crore to be brought within 18 months or Rs 25 crore to be brought within 36 months to avail of the scheme. The foreign investment should also result in generating employment to at least 20 resident Indians every financial year
About the author
a man of strong judgment and deep insight, whose committed focus and dedicated passion has nurtured Market Insight Consultants for nearly 15 years. He has a profound knowledge of the intricacies of every aspect of business. In his 33 years of industry exposure including 23 years as an entrepreneur and principal consultant to the company he founded and then sold out has been involved with preparing large and small companies to anticipate the future, and develop metrics for objective assessment of external and internal situations and use that as a basis for sustained change in business approach. Currently, he heads Market Insight Consultants, a division of TMIPL as the CEO.
His leadership to develop frameworks to open out communication in large organizations has enabled him to catalyze change in the organizations he has rendered consulting services to. He leverages his vast knowledge of both market and internal organizational behavior to contribute to lasting impact on the structures, processes, and competencies with which business is done.