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Reliance Group in Partnership With Cisco Launched IoT Services Venture ‘UNLIMIT’

15Nov By AdityaNo Comments

News

Reliance Group in Partnership With Cisco Launched IoT Services Venture ‘UNLIMIT’

Anil Ambani promoted Reliance Group today announced a strategic partnership with Cisco Jasper for the launch of its new venture 'UNLIMIT' to provide Internet of Things (IoT) services to enterprise customers across India. The outlook for IoT services in India is virtually UNLIMITed, with the number of connected devices projected to rise from 200 million today to around 3 billion by 2020, and revenues set to increase from USD 5.6 billion today to USD 15 billion in 2020," Amitabh Jhunjhunwala, Group Managing Director, Reliance Group said. IoT, fuelled by machine-to-machine communication, essentially refers to microprocessor and sensor-fitted gadgets or things within a network talking to each other, swapping real-time data and information to perform specific actions. Examples of con...

Move to Withdraw Rs 500, 1,000 Notes Master Stroke: Narayana Murthy

9Nov By PriyankaNo Comments

Entrepreneurs Talk

Move to Withdraw Rs 500, 1,000 Notes Master Stroke: Narayana Murthy

Terming the decision to demonetise Rs 500 and Rs 1,000 currency notes as a "master stroke", IT czar N R Narayana Murthy today said the move will address issues like black money and corruption and also help the economy become more digital. "Prime Minister is working hard to reduce corruption. Black money is a scourge on any developing economy. He (Narendra Modi) has been a great supporter of digital economy. So yesterday when he made the announcement, I thought it was a master stroke," he said at an event here. Murthy added that this hopefully will help reduce corruption and black money and also accelerate the move towards digital economy. Taking the nation by surprise, in a major assault on black money, fake currency and corruption, Prime Minister Narendra Modi yesterday announced...

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...

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...

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...

India’s Leading Advertiser Firm Inmobi Announced Partnership With US Based Analytical Startup Moat

29Oct By AnkitaNo Comments

BUSINESS

India’s Leading Advertiser Firm Inmobi Announced Partnership With US Based Analytical Startup Moat

InMobi, the world's largest independent mobile advertising and discovery platform, today announced a partnership with Moat to offer brand advertisers mobile video measurement and currency through both InMobi Exchange and the InMobi network. The partnership will enable advertisers to measure, among other metrics, "human and viewable" and "human, viewable, and audible" (sound, sight and motion) viewability and attention metrics across all mobile ad formats including mobile video and native advertising, as well as transact on these metrics using Moat Currency. According to Strategy Analytics, worldwide revenue from mobile video will reach $25 billion by 2021. As advertisers shift their digital ad dollars to video, ad viewability is an increasing priority for advertisers. This partnership w...

Automobile Major Mahindra Wants Electric Cars Out From GST Tax

28Oct By NitishNo Comments

Automobile, News

Automobile Major Mahindra Wants Electric Cars Out From GST Tax

Automobile major Mahindra hopes that the proposed GST regime will not treat electric cars as luxury items and therefore, it should be taxed accordingly. "We hope that the upcoming GST regime will not treat electric cars as luxury items and will not be taxed at high rates," Mahesh Babu, CEO-designate of Mahindra Electric, told reporters here today. Launching the 'e2o Plus' hatchback electric car here today, he said that the initial cost of acquisition of such cars are very high, compared to conventional ones in the same category. "The cost price of an electric car is pretty steep even after passing on the special incentive given by the government to the buyer. But the cost of ownership is very low," Babu said. The sole automobile company manufacturing electric cars in India, has pr...

27Oct By reutersNo Comments

INDIA

India Allows Startups to Raise up to $3 Million Each via ECB

India has allowed start-ups to raise up to USD 3 million each in a fiscal year via the external commercial borrowings (ECB) route, the country's central bank said in a statement on Thursday. Overseas branches or subsidiaries of Indian banks will not be allowed to lend to start-ups via the ECB framework, the Reserve Bank of India statement (RBI) said. The RBI did not specify the maximum cost at which start-ups can raise money via ECB and said it will be mutually agreed between the borrower and the lender. Typically, the central bank specifies the maximum cost for financial institutions to raise money via ECB. About ECB According to wikipedia, an external commercial borrowing(ECB) is an instrument used in India to facilitate the access to foreign money by Indian corporat...

India is a Very Important Market For Watson: IBM

26Oct By NitishNo Comments

News

India is a Very Important Market For Watson: IBM

Technology giant IBM is placing big bets on the Indian market for its cognitive artificial intelligence platform Watson, driven by factors like a rich talent pool and fast pace of growth in uptake of technology products and solutions. Watson, which shot to fame is now being used across sectors, including assisting in treatment of cancer. IBM Watson GM David Kenny said India is an important market for the company for Watson deployment. "The biggest developer conference that happened (for the company) this year was in Mumbai. We see a lot of innovation coming out of India...The whole region is growing because the technology is growing at a faster rate, there isn't much legacy that needs to be adopted, so people are immediately deciding cognitive systems," he added. He further said: ...

Big Basket Seeks Govt’s Approval For Rs 100 Crore FDI

25Oct By Press Trust of IndiaNo Comments

FUNDING

Big Basket Seeks Govt’s Approval For Rs 100 Crore FDI

Online grocery store Big Basket has sought government's approval to infuse Rs 100 crore foreign direct investment to further expand its business. The company, which sells fruits, vegetables and other food products online, plans to use the funds to strengthen back end infrastructure, increasing collection centers and processing units, sources said. According to a company official, foreign investment of Rs 100 crore is sought to be put in by existing investors, including an overseas venture capital fund. As per the current policy, 100 per cent foreign direct investment is allowed in trading of food products, including through e-commerce. But the proposals require approval from the Foreign Investment Promotion Board (FIPB), under the Finance Ministry. The government is making effo...

Softbank Looking To Invest 2000 Crores in OLA

24Oct By NitishNo Comments

FUNDING

Softbank Looking To Invest 2000 Crores in OLA

As per Economic Times report, Japan's leading telecom giant Softbank looking to invest Rs 1,700-2,000 crore in India's leading Taxi aggregator Ola. This is the first funding investment from Softbank after Nikesh Arora Exit. According to the sources, " SoftBank is looking to commit more capital but Ola wants to control dilution". Ola was valued at about $5 billion when it closed $500 million funding from China’s Didi Chuxing and Scottish investment firm Baillie Gifford in November last year. The new investment will not increase the value. So far, Ola has raised about $1.2 billion and counts Soft-Bank, New Yorkbased investment firm Tiger Global Management, Russian billionaire Yuri Milner’s DST Global and venture capital firm Matrix Partners India as its largest shareholders. Las...

Mahindra Group Starts Using Internet-of-Things For Trucks & Tractors

22Oct By NitishNo Comments

News

Mahindra Group Starts Using Internet-of-Things For Trucks & Tractors

One of the largest tractor makers and commercial vehicle players in India, Mahindra Group has already started using the Internet-of-Things (IoT) project for placing sensors in its tractors and trucks for predicting possible breakdowns. According to the Strategy Head at the Group, Anish Shah, there will be sensors in tractors and trucks to predict failures of specific parts. There will be parts waiting for customers at service centres on the route subsequently. This will prevent breakdowns and time losses of drivers. The same technology can be applied for the automobile business too according to Shah. IoT facilitates sensor placement on machines and subsequent data collection for tracking and improving performance. The Mahindra Group has a stake in Cloud Leaf, a Silicon Valley start-up w...