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SoftBank Indian Investment May Surpass $10 Billion – Masayoshi Son

30May By Press Trust of IndiaNo Comments

Entrepreneurs Talk

SoftBank Indian Investment May Surpass $10 Billion – Masayoshi Son

Having made a string of technology investments in India, Japanese telecom and Internet giant SoftBank has said its investments in the country will top USD 10 billion in 5-10 years. SoftBank, which owns one of Japans biggest mobile carriers and a controlling stake in US-based Sprint Corp, will make its first USD 350 million investment in a solar project in India, its Chief Executive Masayoshi Son said. "We have already invested USD 2 billion and we are interested in investing more," he said. "India has a great future. We are interested in investing in Internet companies and also in solar energy. We would make strong commitments. Son said SoftBank is looking at accelerating the pace of investments in future. "We also made a first move on solar energy. We are making USD 350 million ...

Indian Chai Stirred Into Silicon Valley Coffee Culture

29May By AnkitaNo Comments

Story

Indian Chai Stirred Into Silicon Valley Coffee Culture

San Francisco (AFP) - In a Silicon Valley culture known for brilliant ideas boiling up in coffee shops, Gaurav Chawla is pouring his heart into chai. Chawla was on a break from his job as an engineering manager at San Francisco-based cloud-computing star Salesforce when he began lamenting how tough it was to find a cup of chai as good as he makes it at home. That frustration, and echoed complaints by other natives of India, where the blend of spiced tea and simmered milk is woven into daily lifestyles, prompted him to start tinkering. "I took a rice cooker apart and reconfigured it to make chai," Chawla told AFP. "It made good chai, and I realized this process could be automated." While his background is in software engineering, Chawla went to work developing a chai machine as simple t...

29May By AnkitaNo Comments

News

A New Technology to Mask Call Drops

Trying to deflect heat over poor service quality, mobile operators are taking refuge in a new technology to "mask" call drops that show a call as remaining connected even when the network connection is lost and the caller is unable to hear voice from the other side. Earlier, the call used to get automatically disconnected in case of the user moving to a poor network area, making it a dropped call under the current regulatory framework. The new technology ensures the call remains artificially connected until the caller or receiver decides to terminate it and the user is billed for the entire duration despite not being able to talk for full or part of the call duration. "Telecom operators are using Radio-Link Technology (RLT) which is helping them mask call drops while the consumer is...

29May By Press Trust of IndiaNo Comments

INDIA

Want to Meet Indian PM? Answer Online Governance Quiz

What was the amount of tax refunds paid in 2015-16 -- Rs 1,22,325 cr, Rs 1,23,425 cr, Rs 1,23,325 cr or Rs 1,22,425 cr? If you answer 20 randomly selected questions like this in five minutes, you can meet Prime Minister Narendra Modi. As the NDA government completes its two years in office, it has asked citizens to participate in an online quiz competition. The winners will get a certificate signed by the Prime Minister himself and an opportunity to meet him in person. "This is a timed quiz with 20 questions to be answered in five minutes. These twenty questions will be randomly picked from the question bank. Winners will be adjudged on the basis of the maximum-number of correct answers," reads the conditions of the contest. Citizens can access the quiz through website -- www.m...

How Modi Government Used Twitter Over The Last 2 Years

28May By NitishNo Comments

Story

How Modi Government Used Twitter Over The Last 2 Years

The NDA government led by Narendra Modi (@narendramodi) came into power in May 2014, pioneering a new wave in digital governance. As the Prime Minister marks two years in office today, we look back at how his vision of “minimum government, maximum governance” has been implemented via Twitter - from the Prime Minister himself to his ministers and their ministries to connect with Indian citizens through our live communications platform. In these two years, PM Modi’s following on Twitter has grown by 400% from 4 million to 20 million followers, a milestone he crossed last week making him the most-followed political leader in India and second in the world after Barack Obama (@barackobama). PM Modi’s most Retweeted Tweet remains his victory Tweet when he won the Lok Sabha election in 2014. ...

FundTonic – A Fin Tech Company Looking To Revolutionize Start-up Funding in India

28May By NitishNo Comments

Story

FundTonic – A Fin Tech Company Looking To Revolutionize Start-up Funding in India

FundTonic, a fin-tech company that aims to revolutionize the entire start-up ecosystem has launched their first online platform today. Fundtonic, which aims to reach 2000 investors and 5000 start-ups by next year. FundTonic uses sophisticated proprietary technology that evaluates potential start-ups with a fine-tooth comb and showcases the relevant start-ups to the keen investors. This process enables investors to have easy access to pertinent start-ups. At the same time, start-ups get to know their scalability and invest ability. "Year 2016 did not begin well for start-ups. As many of them either shut shops or merged with large corporate. The closure cycle of investments became long. However, I consider this as a positive sign that investors are no longer content with just the overall...

24May By Press Trust of IndiaNo Comments

INDIA

India Aims to Be Among Top 30 in Ease of Doing Biz: Amitabh Kant

The government is focussed on improving infrastructure and driving innovation to ensure that India ranks among the top 30 countries in terms of ease of doing business in the next 3-4 years, Niti Aayog CEO Amitabh Kant said today. Speaking at an IAMAI event here, Kant said the ecosystem of innovation is just "beginning to blossom" and one is seeing a resurgence of young Indians starting new businesses. "Our objective is that India must become a very easy and a very simple place to do business in. This is one government that is focussed on innovation and trying to make India an easy simple place to do business," he added. Stating that India has jumped up 12 positions in the ease of doing business, Kant said the government has taken various steps in this regard including bringing in ...

Chinese Investments in India Increased By Six Times

24May By Press Trust of IndiaNo Comments

BUSINESS

Chinese Investments in India Increased By Six Times

Chinese investments in India grew six-fold in 2015 to USD 870 million from the previous year while more investments are in the pipeline following easing of restrictions on Chinese firms and favourable tax rates, a state-run daily said ahead of President Pranab Mukherjees visit. Investment in India by Chinese companies in 2015 reportedly rose six-fold from 2014, partly thanks to low investment restrictions and favourable tax and land rent policies in the country, Global Times quoted Chinese business experts as saying. China's investment soared to around USD 870 million in 2015, six times that in 2014, the report said noting that the figure for 2015 was also twice the amount from April 2000 to the end of 2014. Indian trade officials say that the figures reflect how Chinese investments t...

24May By Press Trust of IndiaNo Comments

CHINA

China Apprehensive of Tim Cook’s Plans For India: Chinese Media

As Apple CEO Tim Cook spoke of plans to expand manufacturing operations in India, China apprehends that it could lead to possible exodus of Apple production chain and loss of tens of thousands of jobs, Chinese state-run media said. "It seems the time has come for China to consider whether it is ready for the possible exodus of Apple Inc's production chain," an article in Global Times said, referring to Cook's comments during his India tour. Cook had discussed with Prime Minister Narendra Modi the "possibilities of manufacturing". "Cook shared Apple Inc's future plans for India. He spoke of the possibilities of manufacturing and retailing in India. He appreciated the breadth of young talent in India and said the youth have significant skills which Apple would like to tap," an offic...

Delhi Govt Notifies App-Based Premium Bus Services

24May By NitishNo Comments

INDIA

Delhi Govt Notifies App-Based Premium Bus Services

The Delhi government has notified the app-based Premium Bus services starting from June 1 which will enable people to book their seats in buses through their smartphone on the lines of app-based taxis services in the national capital. Only air-conditioned buses will ply under the scheme according to which one bus aggregator will have to run at lease 50 vehicles to get a licence from Delhi governments Transport department. A senior government official said, "Government has notified the app-based bus scheme to be rolled out from from June 1." While announcing the scheme last month, Delhi Transport Minister Gopal Rai had said that bus aggregators will have an individual app like Ola, Uber and they will be allowed to decide their fares, but if need arises government will prescribe upp...

23May By PriyankaNo Comments

News

Tata Cliq Tie-up With Genesis Fashion Brand

Tata Groups upcoming e-commerce platform TataCLiQ.com today entered into a strategic partnership with Genesis Luxury Fashion to sell a wide range of international luxury brands exclusively in India. Genesis is the marketing and distribution partner for more than 14 international brands, including Burberry, Hugo BOSS, Jimmy Choo, Giorgio Armani, Emporio Armani, Armani Jeans, Canali, Michael Kors and Paul Smith, in India. This alliance will make TataCLiQ.com the only authorised partner to offer several international luxury brands in India that the Genesis represents, the company said in a statement. Partnering with Genesis will help TataCLiQ.com get some of these brands online in an authentic and authorised manner to the consumer. TataCLiQ.com CEO Ashutosh Pandey said: "Together,...

Godrej Group Looking to Become $10 Billion Entity By 2020: Adi Godrej

22May By Press Trust of IndiaNo Comments

Entrepreneurs Talk

Godrej Group Looking to Become $10 Billion Entity By 2020: Adi Godrej

Diversified Godrej Group is looking to accelerate growth and multiply its size 2.5 times in the next four years to touch USD 10 billion mark by 2020 with acquisitions in emerging markets slated to play a key role in achieving the target. The group with interests in various sectors such as consumer goods, real estate, appliances and agriculture had announced its 2020 vision aiming to be 10 times the size of what it was in 2010. "Our objective is 10 by 10, which is ten times growth in 10 years at a compounded annual growth rate of 26 per cent. That is our objective. In next four years, if we grow with CAGR of 26 per cent then in four year we are about 2.5 times of our present size," Godrej Group Chairman Adi Godrej told PTI. He said the growth will be driven by both organic and inorgani...