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Startups are Hopeless, Will Not Create Enough Jobs: Kishore Biyani

7Sep By NitishNo Comments

Entrepreneurs Talk

Startups are Hopeless, Will Not Create Enough Jobs: Kishore Biyani

Stating that startups are "hopeless" and 90 per cent of them "are not going anywhere", Future Group CEO Kishore Biyani today said. They have been made to look attractive only through daily full-page ads on newspapers. Insisting that the startups must work on a bigger canvas, he said at the current state these new ventures would be too small to create the number of jobs which India requires. "I think 90 per cent startups are not going anywhere. They are hopeless...In next three-four years revenues of these companies would not be more than Rs 3,000 crore to Rs 4,000 crore," Biyani said here at the Economist India Summit. Lashing out at the functioning of these new companies, he said: "I think startup has become sexy because of one page ad everyday (on newspapers). Otherwise I don...

Indias IT Exports Revenue Growth Will 9-10% This Fiscal: T V Mohandas Pai

6Sep By Press Trust of IndiaNo Comments

Entrepreneurs Talk

Indias IT Exports Revenue Growth Will 9-10% This Fiscal: T V Mohandas Pai

The revenue growth of Indian IT exports this fiscal is likely to be slower than industry body Nasscoms projection of 10-12 per cent, according to industry veteran T V Mohandas Pai. "The figures could be lower than what Nasscom has said. But its still (expected to) be good figures. They forecast 10 to 12 per cent, I would say 9 to 10 per cent is something that could be more reasonable because we already have seen in the first quarter some companies not meeting numbers...second quarter, some companies going quiet. So, 9 to 10 per cent is reasonable," the former Board member at Infosys said. A clear picture would emerge after companies announce results for the September quarter, which is generally good for them. "Europe is beginning to look better. Brexit has hurt the UK. America... we h...

We Are Far, Far Away From Smart Cities: Narayana Murthy

12Aug By Press Trust of IndiaNo Comments

Entrepreneurs Talk

We Are Far, Far Away From Smart Cities: Narayana Murthy

Infosys co-founder NR Narayana Murthy today said the country was "far, far away" from realising the ambition of developing smart cities, a flagship programme of the Narendra Modi government. "Since we are far, far away from smart cities, I did not talk about it," Murthy said, when asked why he did not mention the smart city project during his one-hour lecture on 'City Systems' here this evening. "I am a doer, I am not just a talker," he said and asked the audience to visit Infosys's campus in Mysore to have a taste of what a smart city can be. Earlier in the lecture, organised by JSW Literature Live, Murthy also came down heavily on the lack of infrastructure in cities. "Poor infrastructure can drive away investments and talent," he said, and pointed out how Mumbai has ...

ShopClues Not Looking For Any Mergers With Flipkart

21Jul By RishabhNo Comments

Entrepreneurs Talk

ShopClues Not Looking For Any Mergers With Flipkart

E-commerce firm ShopClues today refuted reports that it is in talks with rival Flipkart for a merger. "Really speaking, it is not the fact. Of course, mergers help but do not guarantee businesses to grow," ShopClues CEO Sanjay Sethi told reporters. Sethi said if money was the sole criterion to make and sustain a business, Tatas and Birlas would have merged their companies. "If money was the only reason why businesses have to be made and sustained, then Tatas and Birlas should be one entity, but they aren't. They are competing with each other," he said. Sethi also said it is wrong to link Flipkart and ShopClues on the basis of a common investor - Tiger Global. "The largest investor in our company is Nexux Venture, which is also a very large investor in Snapdeal. Nexus Venture has bee...

Wipro Will Achieve Double Turnover to USD 15 Billion By 2020: Abidali Z Neemucchwala

20Jul By AnkitaNo Comments

Entrepreneurs Talk

Wipro Will Achieve Double Turnover to USD 15 Billion By 2020: Abidali Z Neemucchwala

Bullish on the "existing market opportunity", Wipro CEO Abidali Z Neemucchwala today said the company is confident of achieving its ambition of doubling its turnover to USD 15 billion by 2020. "I am very confident about the company's ambition (of doubling its turnover to USD 15 billion by 2020 because of the existing market opportunity. The way the market is panning out, and the investments the company is making and the structure and leadership factors it has been putting in place are being seen very positively by our customers and analysts," he told reporters after announcing financial results here. He added that the company's investments, leadership and structure that it is putting in place has been received positively by its customers and analysts. Neemuchwala said, "All these ...

Almost 70% of Startups Globally Will Fail: Kris Gopalakrishnan

19Jul By NitishNo Comments

Entrepreneurs Talk

Almost 70% of Startups Globally Will Fail: Kris Gopalakrishnan

Infosys Co-Founder and former CII President Kris Gopalakrishnan today said almost seventy per cent of startups globally will fail and only five to ten per cent will become large and scale up. "Almost seventy per cent of startups will fail. About 20 per cent will survive but will not grow. They will remain small enterprises, and may be only five to ten per cent will become large and scale up - that is the spastics globally," he told reporters at the announcement of the 12th Innovation Summit 2016 here, of which he is the chairman. This should not, however, be treated as a concern or a challenge, but it is a part of natural process of evolution, he added. "The key is what are the learnings, and how do we continue to nurture this," he said. Asked who has made a mark globally ...

Virtual Reality, App-Based Tools to Transform India’s Auto Sector: Umang Kumar, CEO, CarDekho.com

4Jul By AnkitaNo Comments

Entrepreneurs Talk

Virtual Reality, App-Based Tools to Transform India’s Auto Sector: Umang Kumar, CEO, CarDekho.com

India's leading online automobile portal CarDekho.com has partnered with World Auto Forum to present the Thirteenth India Vehicle Marketing and Sales Summit 2016, themed on 'The Balancing Act'. The event held discussions over the future roadmap of the Indian automobile sector. It was attended by several industry stalwarts such as marketing and sales heads from prominent auto OEMs, CEOs and MDs of big dealer groups, heads of marketing agencies and representatives of companies of cloud computing as well as social media experts. The summit showcased gradual inclination of the industry towards a more digitized approach using tech tools for customer relationship management, big data for effective business operations and apps for inventory management to reduce costs. With an enhanced fo...

Markdowns Of Flipkart Doesn’t Matter: Sachin Bansal

3Jul By RishabhNo Comments

Entrepreneurs Talk

Markdowns Of Flipkart Doesn’t Matter: Sachin Bansal

Recently Flipkart was marked down in it's valuation by a couple of investors and third- parties! Sachin Bansal, the founder of the e-commerce giant Flipkart considers them as their " opinions" and cited the case of Uber to illustrate that it will not impact fundraising plans of the e-commerce major. "That does not matter. If you look... they did it to Uber as well. Uber raised (money) at a higher valuation. They did it to one more company, they also raised money at higher valuation," Bansal said on the sidelines of an event. "I think it does not matter, people have their own opinions and it is their own opinion," he added. He was also confident about the fact that these statements will not have any impact on the company's future fund raising. For now, Flipkart is pretty well capita...

Players in Financial Services May Relocate From London: T V Mohandas Pai

24Jun By Press Trust of IndiaNo Comments

Entrepreneurs Talk

Players in Financial Services May Relocate From London: T V Mohandas Pai

Indian IT players catering to clients in the financial services space in London may shift their operations to other parts of Europe in the wake of Britain's exit from the European Union, says tech investor T V Mohandas Pai. For the Indian IT industry, the biggest immediate impact would be the shift in the movement of Pound Sterling, which has now become cheaper, Pai said. "That's already impacting them, marginally, depending upon who is exposed to business in the UK," he told news agency noting that over a period of time, lot of work is being done by Indian IT companies in UK financial services space in London. "Now, many of them may migrate to (other parts of) Europe. In case they migrate to Europe, they have to shift to Europe. What happens there is something that needs to be seen. So...

No Impact of Brexit on Mahindra Group: V S Parthasarathy, Mahindra Group CFO

24Jun By sharadNo Comments

Entrepreneurs Talk

No Impact of Brexit on Mahindra Group: V S Parthasarathy, Mahindra Group CFO

Britain's exit from the European Union will have a muted impact on the over USD 17 billion Mahindra Group, but the event highlights the importance of sound risk management for the corporate world, the Group said today. The farm equipment to aerospace group, which has presence in the UK mostly in the IT and auto sectors, however said Brexit will result in uncertainty in the immediate aftermath which will moderate over time. "The impact on India and Indian industries will not be significant. No impact on M&M Ltd, the impact on Mahindra Group will be muted. As a group, our resilience will stand us in good stead and we are poised to take advantage of any opportunities that may emerge," Mahindra Group CFO, V S Parthasarathy said in a statement. He further said: "Brexit, was not a black...

Microsoft Will Use Linkedin As a Facebook For Professionals: Bill Gates

18Jun By NitishNo Comments

Entrepreneurs Talk

Microsoft Will Use Linkedin As a Facebook For Professionals: Bill Gates

San Francisco: Microsoft Corp. co-founder Bill Gates in an interview with Bloomberg TV’s said, "he’s enthusiastic about the company’s $26.2 billion acquisition of LinkedIn Corp., viewing it as an opportunity to build a business network for the working world like Facebook Inc. has created for social communities." Gates said in an interview with . “If we can make that as valuable as the Facebook feed in the social world, that’s huge value creation and that’ll happen over a period of years.” Users should be compelled to say: “This professional feed in LinkedIn, that is how I want to learn about my career, my company, my industry, and I’m going back there,”. The purchase is a way for Microsoft, which largely missed out on the consumer web boom dominated by the likes of Google and Face...

LinkedIn Buy Biggest Acquisition Since I Became CEO: Satya Nadella

13Jun By Press Trust of IndiaNo Comments

Entrepreneurs Talk

LinkedIn Buy Biggest Acquisition Since I Became CEO: Satya Nadella

Microsoft chief Satya Nadella today said new opportunities for monetisation will be created once integration with LinkedIn, its largest acquisition till date, is completed. The USD 26.2-billion deal, which is the largest in the history of the Redmond-based firm, will help "reinvent productivity and business processes", Satya Nadella said in an e-mail to employees. According to a presentation, the total addressable market size for Microsoft has grown to USD 315 billion, from USD 200 billion earlier. Given this is the biggest acquisition for Microsoft since I became CEO, I wanted to share with you how I think about acquisitions overall. To start, I consider if an asset will expand our opportunity ? specifically, does it expand our total addressable market?" he wrote in the e-mail to emplo...