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Employees are Scared For Their Safety After Trump’s Win: Indra Nooyi

15Nov By Press Trust of IndiaNo Comments

Entrepreneurs Talk

Employees are Scared For Their Safety After Trump’s Win: Indra Nooyi

PepsiCo's India-born CEO Indra Nooyi has said Hillary Clinton's defeat in the elections has left her daughters, gay workers, employees and the non-whites devasted as there was "serious concern" among them about their safety in the US with Donald Trump as president. "Do you have a box of tissues here," Nooyi, a staunch Clinton supporter, said at the New York Times Dealbook Conference here when asked how she felt on the morning of November 9, when Trump won the presidential election. A visibly dejected Nooyi said Clinton's loss left her daughters and PepsiCo's employees devastated and there were serious concerns among the company's workers, especially the non-white employees, about their safety in an America with Trump as its president. "I had to answer a lot of questions from my daughte...

Tata-Mistry Spat Unlikely to Hit TCS Operations: Analysts

13Nov By Press Trust of IndiaNo Comments

News

Tata-Mistry Spat Unlikely to Hit TCS Operations: Analysts

The bitter boardroom battle at Tata Sons is unlikely to impact operations of the USD 100-billion conglomerate's crown jewel TCS, but if its chief N Chandrasekaran is elevated to the top at the group level, it could be a blip on the firm's business, say analysts. "Customers care about delivery and long-term stability, not so much about boorish boardroom behaviours... If Chandrasekaran does assume leadership at the group level, it could well prove to be a short-term loss for TCS," Sanchit Vir Gogia, Chief Analyst & CEO, Greyhound Research said. Under Chandrasekaran's leadership, Tata Consultancy Services has stood its ground amidst formidable competition from the likes of Infosys, Tech Mahindra, IBM, Accenture, Wipro, HCL among others, he added. Last week, Tata Sons - the majority...

Oil India Limited (OIL) Setup Rs 50 Crore Startup Fund For New ideas in Oil & Gas Sector

7Nov By Press Trust of IndiaNo Comments

FUNDING

Oil India Limited (OIL) Setup Rs 50 Crore Startup Fund For New ideas in Oil & Gas Sector

GUWAHATI: Oil India Limited (OIL) has set up an OIL Startup fund of Rs 50 crore to encourage new "out of the box" ideas related to the oil and gas sector, particularly in the Northeast. The oil exploration major's chairman-cum-managing director Utpal Bora today said in a press conference that the initiative was in line with the Centre's 'Start-up India' initiative. "The OIL Start-Up fund is to encourage students, young entrepreneurs and institutions to come out with out of the box ideas for the benefit of the oil and gas sector that is contributing enormously to the growth of the economy," Bora said. The initiative was to create an ecosystem that was conducive for growth of start-ups in the oil and gas sector, which has a huge scope for application of technology-enabled ideas, he ...

Average Size of Startup Funding Up 27% to Rs 4.6 Cr: Report

6Nov By Press Trust of IndiaNo Comments

ANALYSIS

Average Size of Startup Funding Up 27% to Rs 4.6 Cr: Report

The average size of Startup Funding received from angel investors grew 27 per cent to Rs 4.67 crore in 2015, from Rs 1.06 crore in 2009, a report said. Also, the average investments made by these angel investors individually saw an annual growth rate of 34 per cent from Rs 0.21 crore in 2009 to Rs 1.69 crore in 2015, according to the '2016 India Venture Capital and Private Equity Report on Start-Ups' by Indian Institute of Technology, Madras (IIT-Madras). "Start-ups have an important role to play in the modern innovation economy. The national government has recognised this and start-ups have emerged as a focus area for policy making now," IIT Madras Director Bhaskar Ramamurthi said. This report provides an interesting commentary on the trends in start-ups and the start-up ecosyste...

Patanjali Ayurved to Invest Rs 1,300 Crore in Assam

6Nov By Press Trust of IndiaNo Comments

INDIA

Patanjali Ayurved to Invest Rs 1,300 Crore in Assam

Patanjali Ayurved, the FMCG venture promoted by Yoga guru Ramdev, will hire around 5000 people at its upcoming Rs 1,300-crore facility in Assam by the end of this fiscal year. Assam Chief Minister Sarbananda Sonowal today laid the foundation stone of the Patanjali Herbal and Mega Food Park at Balipara in Sonitpur district. "The unit will give direct employment to 5000 people and benefit one lakh farmers. The complete profit from the Food Park will be dedicated for the welfare of Assam by setting up school and skill development centres in each district," Ramdev said at a function. "The unit will give direct employment to 5000 people and benefit one lakh farmers. The complete profit from the Food Park will be dedicated for the welfare of Assam by setting up school and skill developme...

Self Driving Won’t Work in India Because Nobody Obeys Driving Rules: RC Bhargava

6Nov By Press Trust of IndiaNo Comments

Entrepreneurs Talk

Self Driving Won’t Work in India Because Nobody Obeys Driving Rules: RC Bhargava

At a time when the automotive world is bullish on self driving cars, Maruti Suzuki Chairman R C Bhargava says such autonomous vehicles will not work in India as "nobody obeys any of the driving rules". "I would love to see people try and put that technology to use in the Indian driving conditions," Bhargava said. At an interaction here late last evening, he was asked about his views on self driving cars and how were they likely to impact the traditional automobile industry. "I think no technology will work here when nobody obeys any of the driving rules, no nobody obeys any of the systems which are there. How will you devise a technology that will predict customer behaviour, nobody can predict customer behaviour?" he said. Asked about the impact of taxi aggregators like...

India’s Imports From China to See a Major Decline: Report

5Nov By Press Trust of IndiaNo Comments

CHINA, INDIA

India’s Imports From China to See a Major Decline: Report

Demand for Chinese products in India is decelerating and imports from the country would see a "major hit" in the coming months, according to a report, which revealed a significant shift in the consumption pattern of Indian consumers towards domestic products. The analysis by the PHD Chamber of Commerce & Industry said increasing competitiveness of India's production capabilities to match its Chinese counterparts due to the improvement in the ease of doing business was another factor responsible for the trend. Indian production capabilities are becoming competitive as compared with China because of many reasons such as improvement in the ease of doing business. Also, there is a significant shift in the consumption pattern of Indian consumers from the Chinese products to domestic p...

Foxconn $5 Billion Investment is Not Going Anywhere, Says Devendra Fadnavis

30Oct By Press Trust of IndiaNo Comments

INDIA

Foxconn $5 Billion Investment is Not Going Anywhere, Says Devendra Fadnavis

As per the news that Taiwan-based tech giant Foxconn may shy away from its proposed USD 5 billion investment in Maharashtra, Chief Minister Devendra Fadnavis today said the company is "not going anywhere" and hoped issues raised by it will be resolved soon. "Foxconn had issues pertaining to the Central government. The company wants its manufacturing costs here to match those in China," he said while speaking to reporters at his residence 'Varsha' here. The world's largest electronics contract manufacturer plans to set up manufacturing units in India, which boasts of the world's second-largest base of mobile phone users, to mitigate rising labour costs in China and also lower manufacturing cost of iPhones. Fadnavis said the company, which counts Apple, Xiaomi, Blackberry and Amazon...

IRCTC Launched New App “IRCTC Connect” For Hassle Free Journey

30Oct By Press Trust of IndiaNo Comments

News

IRCTC Launched New App “IRCTC Connect” For Hassle Free Journey

To make train journeys pleasant and hassle-free, railways will launch an integrated mobile app for availing all travel-related services such as hiring taxis, porters and booking retiring rooms and lounges at stations among others. The app "IRCTC Connect" which aims to provide a one stop solution for various services can be used for booking tickets, ordering food from a favourite restaurant or finding hotel rooms of passengers' choice outside the stations. The application is likely to be launched early next year as the required ground work for it is underway, a senior Railway Ministry official said. Currently, a few apps are operational for booking tickets and food but there is no such app for availing multiple services. As per plan, the app will offer 17 services like porter, whee...

29Oct By Press Trust of IndiaNo Comments

CHINA

U Turn of China’s Official Media- Supporting Chinese Companies Investment in India

Arguing that anxieties of Chinese businesses in investing in India are "overblown", official media today said investors can make "fat gains" by cashing in on the rapid growth in India's manufacturing sector and staying away is indisputably an "unwise choice". Making a strong case for why Chinese should rush their investments to India, an article in the official daily Global Times said "the rapid growth in India's manufacturing sector has thus far had little to do with Chinese capital". "In other words, China does not have the capability to limit India's manufacturing development. What China is capable of is preventing Chinese investment from capitalising on India's admired growth outlook, indisputably an unwise choice," the article written by Ge Cheng, Research fellow at the National...

27Oct By Press Trust of IndiaNo Comments

INDIA

Indian Industry Body CII is Not Happy With World Bank’s Doing Biz Ranking of India

Expressing "surprise and disappointment" over India's ranking in the World Bank's ease of doing business index, industry body CII said it has not captured key reforms undertaken by the government. "We are a little surprised by the ranking," CII Director General Chandrajit Banerjee told reporters here. India's ranking of 130th is not in tandem with the effort's being made by the government to improve business environment in the country, he said. CII Past President Sunil Kant Munjal said: "This result was surprising and disappointing because one can see the kind of work happening in the government". In the World Bank's latest 'Doing Business' 2017 report, India's place remained unchanged from last year's original ranking of 130 among the 190 economies that were assessed on various p...

Ola Ties Up With BMW, Expands On Demand Luxury Ride Service

25Oct By Press Trust of IndiaNo Comments

News

Ola Ties Up With BMW, Expands On Demand Luxury Ride Service

Leading taxi-hailing app Ola on Monday partnered with luxury car maker BMW, which the two companies claimed will go a long way in redefining on-demand luxury mobility in India. Ola claims it has around half a million drivers on its platform and the service, Ola Lux, is available in Mumbai, Delhi and Bengaluru to begin with, and will shortly commence in Hyderabad. Ola already has tie-ups with luxury car makers Mercedes and Jaguar and also with Mahindra and Tata Motors. Other OEMs like Maruti Suzuki, Toyota and Nissan also have such association with aggregators. BMW India acting president Frank Schloeder said the partnership is not exclusive, but will offer 100 per cent financing from BMW Finance, assured buyback and two-year free insurance maintenance. Pranay Jivrajka, chief ope...