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Business & Finance

Mohammad Anas Wahaj | 19 jan 2020

Father of Artificial Intelligence, John McCarthy, said, 'Artificial intelligence is the science and engineering of making intelligent machines, especially intelligent computer programs.' AI is a growing field of technology globally and India is also making strides to stay ahead in this space. According to the 2018 PwC report, 'Artificial Intelligence in India - Hype or Reality' (Authors: Sudipta Ghosh, Indranil Mitra, Prasun Nandy, Udayan Bhattacharya, Deboprio Dutta, Shruti Kakar), 71% of respondents (business decision-makers and employees) believe AI will help humans solve complex problems & live richer lives; 67% would prefer AI assistance over humans as office assistants; 43% agree that the government will apply AI to improve global climate, health and education; 60% would prefer AI assistance over humans as financial advisors or tax preparers; 72% believe that AI can provide a better experience of one-to-one personalisation. The report also finds out that nearly all (93%) have major concerns regarding data privacy. Indian researchers are also influencing and contributing to the development of AI field. Here is the list of top AI researchers and influencers in India - (1) Sankar Kumar Pal (Scientist and former Director of the Indian Statistical Institute, Kolkata): Pattern Recognition and Machine Learning; Image/Video Processing; Data Mining; Soft Computing; Granular Computing; Fuzzy-Rough Computing; Neural Nets; Web Intelligence; Bioinformatics; Social Networks; Machine-Mind Development. (2) Krothapalli Sreenivasa Rao (Indian Institute of Technology Kharagpur): Signal Processing and Machine Learning in Speech Applications; Robust speech interfaces in the context of Indian languages; Signal processing and machine learning paradigms for automatic processing of Hindustani music; Big Data Analytics for speech, music, audio and video document representation, indexing, and retrieval tasks. (3) Bidyut Baran Chaudhari (Indian Statistical Institute, Kolkata): Digital Document Processing; Optical Character Recognition; Natural Language Processing; Statistical and Fuzzy Pattern Recognition; Computer Vision and Image Processing; Cognitive Science. (4) Pushpak Bhattacharyya (IIT Bombay): Natural Language Processing; Machine Learning; AI. (5) Sriparna Saha (IIT Patna): Text Mining Pattern Recognition; Natural Language Processing; Multi-Objective Optimization; Biomedical Information Extraction. (6) Sunita Sarawagi (IIT Bombay): Neural Models for Sequence Prediction with applications to dialog generation, translation, grammar correction, and time series forecasting; Domain Adaptation and Domain Generalization; Continuous, Reusable, Human intervenable and Modular Learning; Machine Learning models for reliable aggregate statistics over predicted variables; Graphical models for selective node labeling in social networks; Structure extraction from tables and lists on the web; Inference algorithms for graphical models in information extraction task. (7) Anush Sankaran (IBM Research): Applications of Machine Learning and Deep Learning with applications to computer vision and natural language processing. (8) Anuprriya Gogna (GE Healthcare): Optimization algorithms and learning architectures for various applications in the domain of healthcare, recommendation engines, and signal/image processing; Sparse Recovery; Matrix Factorization/Completion; Deep Learning; Recommender System Design. (9) Balaraman Ravindran (IIT Madras): Machine Learning; Spatio-temporal Abstractions in Reinforcement Learning; Social Network Analysis; Data Mining. (10) VP Subramanyam Rallabandi (National Brain Research Centre, Gurgaon): Mathematical Modeling; Neuroimaging; Machine Learning; Computational Biology; Knowledge-based Image Retrieval; Artificial Neural Networks; Fuzzy Logic; Soft Computing. Read on...

Analytics Insight: THE 10 REMARKABLE AI INFLUENCERS AND RESEARCHERS IN INDIA
Author: Smriti Srivastava


Mohammad Anas Wahaj | 28 dec 2019

According to nseinfobase.com, CSR spends of Indian corporates have increased 17.2% to Rs. 11867.2 crore in FY19 from Rs. 10128.3 in FY18. This is the highest spend since FY15 (Rs. 6552.5 crore), when the CSR spend was made mandatory through Companies Act 2013. It is observed that corporates are increasingly using their CSR spends on charitable contributions. The highest amount of Rs. 4406 crore were for schedule VII (II) that focuses on education. The next big spend was Rs. 3206.5 crore under VII (I) for eradicating hunger, poverty, malnutrition and promoting health and hygiene. Rural development got Rs. 1319 crore and remaining went for projects that include environment protection, benefits to the armed forces, disaster management etc. From geographical point of view Maharashtra and Gujarat were at the top to get contributions while Bihar and North-East states got the least CSR funds. Experts say that large spends have also seemed to have prompted closer attention to how the money is spent. Amit Tandon, founder and MD of Institutional Investor Advisory Services India (IiAS), says, 'There are more and more companies who are doing impact assessment...people recognise the need to do it.' Pranav Haldea, MD at Prime Database, says, 'Low CSR budget could act as a constraint for some companies to adopt monitoring mechanisms. It may only make sense for firms with very large budgets. Smaller companies may find it too expensive to employ an agency for external audits on a regular basis.' Read on...

Business Standard: Companies spent Rs 11,867 cr on CSR activities in FY19; highest so far
Author: Sachin P. Mampatta


Mohammad Anas Wahaj | 25 dec 2019

Social enterprises can become an important pillar of Indian economy just like corporations and businesses. India has more than two million social enterprises that include nonprofits, for-profits and hybrid models. According to a McKinsey study, 'impact investors' in India poured a total of US$ 5.2 billion between 2010 and 2016, with substantial focus on sectors like financial inclusion and clean energy. A survey conducted by Brookings India found that 57% of the social enterprises identify access to debt and equity as a barrier to growth and sustainability. In the budget Indian government proposed a social stock exchange (SSE) to list social enterprises and voluntary organisations. Suresh K. Krishna, MD and CEO, and Geet Kalra, portfolio associate, at Yunus Social Business Fund, explain what benefits this social stock exchange will bring to the social enterprise ecosystem and suggest that careful planning is needed in designing it. They explain, 'SEBI (Securities and Exchange Board of India) set up its working committee on SSEs on September 19, however, many experts have already proposed distilling learnings from those of other countries. Some of these exchanges are either information sites, like in the case of the London Stock Exchange, or list nonprofit projects only. Canada's Social Venture Connexion (SVC) and Singapore's Impact Investment exchange are more advanced in terms of accreditation, valuation and monitoring, whereas the Brazilian model didn't use such valuations at all. While formulating a similar product for India, we need to have an extensive as well as 'cautious' approach. There is no consensus in the wider social impact community about what is and isn't a social enterprise, therefore the definition itself first needs more objectivity...Once we have a shared frame of reference in place, we can design impact valuation parameters for social enterprises based on social and environmental mission, target beneficiaries, service delivery, stakeholder involvement, and impact measurement.' SSE listing will provide visibility to social enterprises and assist in attracting funds in the form of private equity and debt. Listing debt products on the SSE would encourage banks, NBFCs (Non-Banking Financial Company) and other investors to participate in the growth of social enterprises and enhancing their impact. Moreover, SSE impact valuation will encourage development of more innovative financial products. SME exchanges operated by BSE and NSE can also provide valuable learning in effectively designing SSE. Mr. Krishna and Mr. Kalra suggest, 'For a social stock exchange to meet its intended objectives, we need to take measures such as: educating market participants about the valuation metrics weighing both on social and financial returns; amplifying the efforts of creating and supporting social businesses; bringing policy and regulatory reforms to support investors, and facilitating research and development for small social enterprises.' Read on...

The Hindu: A social stock exchange will help in raising capital
Authors: Suresh K. Krishna, Geet Kalra


Mohammad Anas Wahaj | 08 oct 2019

Agriculture is one of the critical sectors of Indian economy as it employs about 50% of the working population and contributes 15-16% to GDP. Even though government policies are designed to make the sector benficial for those engaged in it, but the media is full of news describing the ailing condition of India's agriculture at the ground. Can entrepreneurs, full of ideas and working zeal, coupled with effectiveness and efficiencies of technology, become harbingers of change and transform the condition of not only the farms and their produce, but also the farmers and all other hard working people employed in the sector. Abhishek Agarwal, co-founder of TechnifyBiz, suggests that agri-tech entrepreneurs can tackle some of the problems of Indian agriculture and help grow the sector. He cites following issues - Depleted ground-water, low-quality seeds and ravaged soil quality due to over-use of chemicals; Lack of market linkage creates a considerable gap in the industry; Inadeguate transporation and storage; Scarcity of credit and high lending rates. He suggests that agri-startups can assist in standardization of agri-market practices through technology, aggregation and organized marketing. According to NASSCOM, sector had secured a funding of US$ 73 million in 2018. The agri-tech industry has been able to raise financing of over US$ 248 million till June 2019. Accenture says that digital agricultural services market is set to touch US$ 4.55 billion by 2020. Mr. Agarwal explains, 'Market linkage, farmer markets in the digital space, superior database management, digital agriculture and micro-financing are gaining in popularity, making the sector conducive to attract funding.' Agri-startups are encompassing both the production and after-harvest side of agriculture. He says, 'The various areas of improvement, like the reduction of input costs, better nutritional value in food crops, better quality seeds that drive crop production and improving soil quality. Using technology to predict weather patterns, irrigation cycles and soil quality are the focus of some startups. This enhances the quality of production...The use of smart technology and superior logistics infrastructure has created a new eco-system of agri-marketing. New-age startups are leveraging technology to tap the retail as well as B2B marketplaces through digital agronomy startups.' Read on...

India Today: Agri-tech: The emerging field for an Indian entrepreneur to grab more opportunities
Author: Abhishek Agarwal


Mohammad Anas Wahaj | 22 sep 2019

Project-based work is resulting in the rise of flexi or contractual staff hiring in India, partcularly in the IT-ITeS (Information Technology and IT-enabled Services) industry. According to the Talent Radar 2019 report by Infosys, the top 5 technical skills in demand for digital projects are - analytics, user experience, automation, IT architecture and artificial intelligence. Indian Staffing Federation (ISF) says that IT-ITeS sector tops flexi-staff adoption with around 12 out of every 100 employees being contractual or flexi staff and, this workforces is expected to grow to 720000 by 2021 from 500000 in 2018. Pankaj Khanna, VP of talent acquisition at Mindtree, says, 'The first advantage of flexi hiring is that demand can be fulfilled faster...Secondly, for requirements that are short term, it makes business sense to leverage the subcontracting/flexi hiring models without increasing the headcount.' U. B. Pravin Rao, COO of Infosys, says, 'As enterprises progress in their digital journeys, the winners will be those who utilize multiple hiring sources and reskill workers in a culture of lifelong learning.' According to Broadband India Forum, the IoT and AI-based applications will create over 2.8 million jobs in rural India over the next 8-10 years generating Rs. 60000 crore every year. Rituparna Chakraborty, President of ISF and co-founder of Teamlease, says, 'With emerging technologies such as AI and big data, new skill requirements are in demand. Flexi staffing is a solution to find out the right skills, based on project requirement.' Sivaram S., engagement manager at Zinnov, says, 'The focus on flexi-staffing is to quickly deploy talent for new-age areas such as AI, Machine Learning, and IoT, and drive velocity/agility in transformative engagements. It can be viewed as a means to augment existing digital engineering workforce in an organization, as there are challenges associated with hiring for specific skillsets.' Siddharth Pai, IT consultant and venture capitalist, says, 'The reason for the proliferation of project-based work, as opposed to long-term contracts is the global slowdown that is leading companies to hire for one-off projects so that they can easily let people off when there is no requirement.' According to Nomura Research, subcontractors are typically 15-20% (more) expensive than employees and are a margin headwind going into FY20F. Apurva Prasad, Research Analyst (IT) at HDFC Securities, says, 'Increase in sub-contracting resulted from a combination of surge in demand and staffing challenges on account of tech supply crunch.' Read on...

Livemint: Increase in flexi-staff hiring may eat into IT industry's margins
Author: Ayushman Baruah


Mohammad Anas Wahaj | 07 sep 2019

Trust between patients and care givers is one of the critical factors in determining success of healthcare system. And trust develops over a period of time through positive experiences that are achieved by providing quality care at the right time, effectively and efficiently at the right price. But, it seems, India's healthcare is lacking behind in satisfactory healthcare delivery. According to the recent report by Ernst & Young (EY) and Federation of Indian Chambers of Commerce and Industry (FICCI), 'Re-engineering Indian Healthcare 2.0', based on an online survey of 1000 patients across six geographical zones in India, 'There is a growing mistrust among patients against healthcare providers and the Indian healthcare system needs to tailor its current model for inclusion and mass healthcare to deliver true care with a focus on primary care, wellness and health outcomes.' The report finds that - 61% patients believe that hospitals did not act in their best interests; 63% of patients indicated that they were not happy with hospital responsiveness and waiting times; 59% patients felt the hospitals were not concerned about feedback and do not actively seek it. Kaivaan Movdawalla, Partner at EY India (Healthcare), says, 'For realising the aspired levels of efficiency, it is imperative for healthcare providers to shift from an incremental performance plus approach to a radical design to cost or direct-to-consumer approach for redesigning their operating models and cost structures.' Dr. Arvind Lal, Chair at FICCI Healthservices Committee and CMD of Dr Lal PathLabs, says, 'There is an urgent need to bridge the 'trust deficit' between the patient and the doctor; patient and the hospital; as well as government and the private healthcare provider for the Health of the Indian Healthcare.' EY recommends a '5E Framework' for building trust across all principal stakeholders, that is, policymakers, healthcare providers, payors and the public. This framework comprises integrating empathy, efficiency, empowerment, ease and environment to achieve the agenda of universal health access and the right to health. Read on...

Business Today: Most patients are dissatisfied with India's healthcare system, says EY-FICCI report
Author: P. B. Jayakumar


Mohammad Anas Wahaj | 05 sep 2019

Healthcare technologies enhance efficiencies, improve access and create informed patient-doctor relationships. Around the globe there is fast-paced adoption of these technologies. India too is undergoing health-tech transformation. According to a 15-country Future Health Index (FHI) 2019 report by Royal Philips, about 76% of healthcare professionals in India are already using digital health records (DHRs) in their practice. Moreover, 80% of healthcare professionals have shared patient information with other professionals inside their health facility, which is equal to 15-country average. India also meets the 15-country average when it comes to the usage of artificial intelligence (AI) within healthcare at 46%. Report also finds that a majority of Indian healthcare professionals who use DHRs in their practice report that DHRs have a positive impact on quality of care (90%), healthcare professional satisfaction (89%), and patient outcomes (70%) when compared to the 15-country average of 69%, 64% and 59% respectively. Rohit Sathe, President of Philips Healthcare (Indian Subcontinent), says, 'The report confirms that digital health technology is a pivotal pillar in delivering value-based care across the healthcare continuum in India. Tools including telehealth and adaptive intelligence solutions can help lower the barriers between hospitals and patients, thereby improving access to care and enhancing overall patient satisfaction, particularity in tier II & III cities in India.' Read on...

Livemint: Digital Health Technology can revolutionise healthcare in India: Report
Author: Nandita Mathur


Mohammad Anas Wahaj | 18 aug 2019

Startups are enabling tech-based transformation of India's retail sector through Android-based smart PoS (Point of Sale) devices. The promise of these devices goes beyond payments and makes supply chain more efficient with data analytics and potential credit scoring. Vicky Bindra, CEO of Pine Labs, says, 'Retailers and merchants from diverse sectors such as electronics, food and beverage, fashion, pharmacy, telecom, and airlines are adopting the new smart PoS machines to improve their efficiencies and enhance consumer's shopping experience.' Praveen Hari of industry association iSPIRT says, 'Today a smart PoS device is not just accepting cards, but they can also provide UPI (unified payments interface) pull transactions, QR codes (displayed on screens), NFC (near-field communication) transactions, wallet transactions, or basically, any payment mode that is available in India.' Ashish Jhina, co-founder of Jumbotail, says, 'Today smart PoS machines can do four key business functions: payment, billing, inventory management, wholesale procurement.' Smart PoS data is also valuable for credit scoring. Mr. Hari explains, 'The GST data itself is good enough for a lender to make a lending decision and the shopkeeper or his FMCG distributor now has an incentive to report all the transactions. The transaction data itself can help a lender make a lending decision.' Manish Patel, CEO of Mswipe, says, 'We have engineered a credit model where when our merchants can borrow money (to make wholesale purchases) from any of our NBFC partners, based on data we provide...In terms of recollection, the merchant can opt to pay back in daily and monthly instalments.' Read on...

Livemint: Wireless, smart PoS devices revamping India's retail landscape
Author: Salman S. H.


Mohammad Anas Wahaj | 05 aug 2019

People with the twin passion of design and development of new products can transform into design entrepreneurs. They are able to control both the design and business processes. Vijayant Bansal, founder of World University of Design (India), explains what it takes to be a design entrepreneur and explores the shifting landscape of design entrepreneurship in India. He says, 'We are in the midst of a design revolution and increasingly design is gaining a lot of focus...But it's not easy starting from ground zero and working yourself towards achieving credibility, recognition and last but not the least, generating demand. This involves having to create a balance between what we want to create with what the customer wants; what is possible technically and how much of a resource pull will it involve.' Contemporary design entrepreneurship includes new product development, restoring crafts, innovating existing products and providing design services based on new & emerging technologies. Explaining the design revolution, he says, 'Designing is undergoing a metamorphosis, aided by new technologies and digital transformation of today. New and disruptive technologies like Artificial intelligence, IoT, Machine learning etc., are the biggest enablers, disrupting traditional processes and systems, enabling out of the box thinking and new ideas, which in turn reshape the entire user experience.' Universities can play an important role in guiding and mentoring students to pursue design entrepreneurship. Industry experts can also play a role in this and enable students to participate in hands-on training. Virtual products have also expanded the scope of design entrepreneurship with designers engaged in designing and developing games and apps. Design entrepreneurship is the new career paradigm. Mr. Bansal suggests, 'Today the scenario has undergone a sea change, with almost every industry, be it apparel, automobiles, film making, animation, product design or gaming, with design playing an intrinsic role in the entire process from an idea to the end product. It's worth the challenge if financial security and stability are not foremost on your mind and you have the patience and inclination to see through the entire process of making the design-centric idea into a successful venture.' Read on...

Entrepreneur: The Rise of the Contemporary Indian Design Entrepreneur
Author: Vijayant Bansal


Mohammad Anas Wahaj | 22 jul 2019

Even though India has achieved success consistently in agriculture sector through policy and reforms, but there is still a lot to be desired. Farmer suicides and droughts become headline news from time to time. Ken Ash, Director of Trade & Agriculture at OECD (Organisation for Economic Co-operation and Development), and Silvia Sorescu, Policy Analyst at OECD, provides an overview of India's state of agriculture and what needs to be done to tap opportunities. According to them, many smallholders have not been able to exploit the opportunities opening up to them; they remain hampered by low productivity, an under-developed food processing and retail sector, and water and environmental degradation. They explain that India faces 'triple challenge' in the agricultural sector similar to other countries - delivering safe and nutritious food to a growing population at affordable prices; providing a livelihood for farmers and others in the food chain; and overcoming severe resource and climate pressures. According to the OECD and the Indian Council for Research on International Economic Relations (ICRIER) report in the Agricultural Policies in India 2018 study and the 2019 OECD Agricultural Policy Monitoring and Evaluation, India's domestic and trade policies (like restrictions due to agri-marketing regulations, export restrictions, huge farm subsidies for farm inputs etc) have combined to reduce Indian farm revenue by an estimated 5.7% in the past three years. Moreover, funding for public services - such as physical infrastructure, inspection, research & development, and education and skills - that are essential to enable the long-term productivity and sustainability of the sector has not kept pace. India can draw lessons from Ashok Gulati's analysis of farm policy developments in China, and also from EU's (European Union) agricultural policy reform experiences. Persistence is critical for the success in the sector. Electronic National Agricultural Market (eNAM), the 2017 marketing model act, and the recently implemented direct cash transfers scheme to small-scale farmers, are steps in the right direction. Authors suggest, 'Scarce financial resources should be directed towards investment in public services that enable a productive, sustainable, and resilient food and agriculture sector. Doing so would require strengthening the institutional framework; eliminating duplication and fragmentation is a pre-requisite to ensuring coherent policy packages are developed and consistently implemented. Achieving the Sustainable Development Goals and addressing the 'triple challenge' will require new policy directions in India, as elsewhere.' Read on...

Financial Express: Opportunity knocks for Indian agriculture
Authors: Ken Ash, Silvia Sorescu


Mohammad Anas Wahaj | 22 may 2019

India's CSR legislation is a step in the right direction and is globally praised. Recently, 47 participants from 33 global multinational companies that are associated with WBCSD (World Business Council for Sustainable Development) visited India to learn about sustainable businesses. WBCSD Leadership Program is a year-long series of engagements and learning exercises in partnership with Yale University. Rodney Irwin, Managing Director of WBCSD's Redefining Value and Education program, says, 'The legislation asking large companies to spend 2% of their profit on corporate social responsibility (CSR) is appreciable, but large companies should not stop there. These large firms should look at making their businesses sustainable by integrating the concept of environmental, social and governance advantages into the core business.' He advocated the need for integrating sustainable approach to doing businesses along with maintaining profitability. He adds, 'In long-run, profitability can be greater if you embrace opportunities that accompany sustainable approach.' Since a number of large Indian companies are family-owned, he says, 'The companies that have family connections tend to not just make the businesses successful but they want to make sure that the business can be passed on to the next generation. They have a long-term vision.' Read on...

IndiaCSR: Large companies should look beyond CSR mandate at sustainable ways: Rodney Irwin
Author: NA


Mohammad Anas Wahaj | 09 apr 2019

According to the recent report 'India Digital Ad-fraud Market 2018' by techARC, the total size of digital ad-fraud in India stood at staggering US$ 1.63 Billion, which is 8.7% of the global size. The report projects 23% increase in digital ad-fraud in 2019. Digital Commerce contributed more than half 51% of the total ad-fraud in India. While, Leisure & Travel (26%), Entertainment & Gaming (13%), Banking & Finance (8%), Healthcare & Pharma (1%) and Others (1%). Although, App Fraud contributes to over 85% of the total digital ad-fraud, the organizations should not ignore the web platforms. Web platforms are more susceptible to frauds as in several organizations the digital teams are primarily focusing on the app, leaving the web space vulnerable. As video is increasingly becoming the preferred medium of content, it is also attracting fraudsters to exploit this advertising channel. The report finds that businesses who have an ad-fraud solution in place are better equipped to have higher levels of customer engagements. Faisal Kawoosa, Founder & Chief Analyst at techARC, says, 'Digital ad-fraud is getting increased attention from the C-level leadership of evolved organisations, where it is no longer an agenda of a CDO or CMO. The impact of digital ad-fraud now goes beyond diminishing the returns on marketing spends and can jeopardize the entire digital transformation journey hampering Brand Equity, Relevance and Positioning among other ramifications.' Read on...

techARC: At $1.63 Billion, India's share in global digital ad-fraud stood at 8.7% in 2018
Author: NA


Mohammad Anas Wahaj | 07 apr 2019

Biotechnology is expected to be the next big thing for the Indian economy, just like the IT industry has been, explains Amit Kapoor, President & CEO of India Council on Competitiveness and Honorary Chairman at Institute for Competitiveness. According to him, '...biotechnology industry seemed poised to take over the mantle. In the span of a decade beginning in 2007, the industry has grown exponentially in size from about US$ 2 billion to over US$ 11 billion in terms of revenue. By 2025, it is targeted to touch US$ 100 billion.' In the past, both Green Revolution (agricultural transformation) and White Revolution (dairy sector transformation) became successful because of the contributions from biotechnology. At present India's rising competitiveness in pharmaceuticals is also the result of biotechnological advancements and research. Moreover, energy needs of rural areas are also met by biomass fuel, produced through application of biotechnology. Mr. Kapoor explains evolution of biotechnology in India, 'As early as 1986, Rajiv Gandhi, recognising the potential of biotechnology in the country's development, set up the Department of Biotechnology...Department of Biotechnology has set up 17 Centres of Excellence at higher education institutions across the country and has supported the establishment of eight biotechnology parks across different cities...Biotechnology Industry Research Assistance Council (BIRAC) in 2012, which has successfully supported 316 start-ups in its six years of existence...As of 2016, India had over a thousand biotechnology start-ups.' According to Mr. Kapoor, the sector faces many challenges and they need to be addressed effectively and promptly - (1) India's research and development expenditure is quite low at 0.67% of GDP, not only compared to mature biotechnology economies such as Japan and the US (around 3%) but also in comparison to emerging economies like China (around 2%). (2) Specific to the biotech pharmaceutical sector, there are a few India-specific challenges with the country's IP regime. There are two main areas of contention for the industry in India's approach to intellectual property. The first issue lies in Section 3(d) of the Patents (Amendment) Act, 2005, which sets a higher standard for patentability than mandated by TRIPS. The industry argues that India's stricter standards for patents discourages innovation and dampens foreign investment. The second issue is that of compulsory licensing, which gives the government power to suspend a patent in times of health emergencies. Although India has used this option only once, the industry feels that such regulations keep investors clear of Indian markets. (3) Another challenge lies in the risk involved in the Valley of Death, that is, the risk of failure in the transition of innovative products and services from discovery to marketisation. Most of the early research funding, often provided by universities or the government, runs out before the marketisation phase, the funding for which is mostly provided by venture capitalists. It becomes difficult to attract further capital between these two stages because a developing technology may seem promising, but it is often too early to validate its commercial potential. This gap has a huge impact in commercialisation of innovative ideas. Read on...

The Economic Times: Why biotechnology can be Indian economy's next success story
Author: Amit Kapoor


Mohammad Anas Wahaj | 06 apr 2019

India is a diverse economy with a large population size. The availability of correct data is a challenge. But there are reliable and free sources that contain datasets and data visualisations of the Indian economic scenario that can be utilized by data scientists - (1) NITI Aayog (Salary Expenditure): It is part of data.gov.in website. An expense or expenditure made to the employees for their work in terms of salary is known as Salary expenditure. It is an outflow of money from the Government for different services. The Data contains Actual, Pre-actual and Budgeted Expenditure for Salary expenditure, total expenditure, Revenue Expenditure, Salary expenditure as percentage of revenue expenditure (net of IP & Pension) and Salary expenditure as percentage of total expenditure of states & union territories. (2) Open Budgets India (openbudgetsindia.org): The portal provides budget information of different tiers of government in India (Union Budget, State Budgets, and Budgets of several Municipal Corporations across the country) in accessible and open (non-proprietary) formats. The four major features of the portal, as of now (in the beta version), are - Budget documents (i.e. the original PDF documents); Machine Readable Datasets (for those budget documents, where it was technically feasible to prepare machine readable datasets); Visualizations (or infographics) generated from the machine readable datasets; and Budget basics (for greater familiarity with budget concepts, processes and documents). The portal includes twelve broad sectors that represent Union and State Budget expenditure on both Economic Services and Social Services. It has 10.6k datasets from 509 budget sources. (3) Ministry Of Statistics (Indian Income Tax): It is part of data.gov.in website. The data refers to details on receipts under income tax from 2000-01 to 2011-12 in head of account such as Minor Head-Other Receipts, Minor Head-Surcharge, Penalties, Interest Recoveries, Primary Education Cess, Secondary and Higher Education Cess. (4) NITI Aayog (Manufacturing GDP): It is part of data.gov.in website. The data refers to information on contribution to manufacturing GDP in the 11th Five-Year Plan and employment in 2009-10 in different segments of the manufacturing sector. It projects employment in 2016-17 and 2024-25 in different segments of manufacturing in two different scenarios. (5) Ministry Of Finance (Statistical Appendix): It is part of the Economic Survey. Website is mofapp.nic.in:8080/economicsurvey. Includes Economic Survey 2017-18 and previous ones. The Statistical Appendix has following sections along with their sub-sections - National Income and Production; Budgetary Transactions; Employment; Monetary Trends; Prices; Balance of Payments; Foreign Trade; External Assistance; Human Development Indicators. Data files can be downloaded in Excel and PDF formats. (6) Ministry of Finance - Department Of Economic Affairs (Trade Balance Of India): It is part of data.gov.in website. The trade balance is the difference between the monetary value of exports and imports of output in an economy. It is one of the most important macroeconomic parameter. Data contains Exports, Imports and Trade Balance of India (in Rs Crore and US$ Million) from 1949-50. It also contains the percentage rate of change of exports as well as imports with respect to the previous year. The data has been provided by Department of Economic Affairs. (7) The World Bank (data.worldbank.org/country/india): Includes time series data on variety of topics like GDP, Population, School Enrolment, CO2 Emissions etc. DataBank is an analysis and visualization tool. (8) IMF DATA (data.imf.org): It provides access to macroeconomic and financial data. Asia and Pacific Regional Economic Outlook (APDREO) provides information on recent economic developments and prospects for countries in Asia and Pacific. India is included in this region. Read on...

Analytics India Magazine: 8 Free Resources On Indian Economy You Can Use For Your Data Science Projects
Author: Ram Sagar


Mohammad Anas Wahaj | 18 mar 2019

According to the recent NASSCOM CEO survey of 100 participants from IT and ITES sector, majority agreed that 2019 will have large digital deals and to gain part of this they consider making investments into products and platforms and intend to co-innovate with start-ups to build digital capabilities as a priority. In 2018, 40 global capability centers were opened in India and the number of digitally skilled workers has increased to 6 lakh. Industry leaders discussed the emergence of India as a preferred hub of new age innovation in the digital era at NASSCOM's Technology and Leadership Forum. Whether it is creation, storage or analytics, data is the big thing along with artifical intelligence or machine learning. Nivruti Rai, Country Head of Intel India, says, 'The two most important technologies which are critical from Intel's perspective are artificial technology and 5G transmission technology.' Sashikumar Sreedharan, Managing Director of Microsoft India, says, 'The fundamentals of technology, like services innovation and supportability in an automatic and self sustainable manner over the full lifecycle are some of the areas where innovation is happening at Microsoft.' Chetan Garga, Managing Director and Country Head of All State Insurance India, says, 'Business is driving innovation but also technology is driving businesses to do things differently, it's a two-way flow.' Innovation is critical and most business leaders agree that meeting the expectations of customers in the real world and understanding their needs is where the convergence lies. India with 1 billion population, large data size along with its complexity can become a test lab for the world. Pankaj Phatarphod, Managing Director & Country Head of Services at Royal Bank of Scotland (RBS), says, 'If it works in India It can work anywhere...I wish we had more applied research and smarter talent.' Read on...

Business Today: India emerges as a preferred hub of new-age innovation
Author: Rukmini Rao


Mohammad Anas Wahaj | 28 feb 2019

Companies Act of 2014 made India the first country that made CSR (Corporate Social Responsibility) mandatory for a section of corporates. The companies were expected to integrate social development programs into their business models and culture. KPMG's 2018-19 report that analyzed the CSR work of 100 companies found that corporates increased their prescribed amount for CSR expenditure from Rs 5779.7 crore in 2014-15 to Rs 7096.9 crore in 2017-18. Moreover, they were actually spending more than what was prescribed (Rs 4708 crore in 2014-15; Rs 7424 crore in 2017-18. But India's most backward districts remain deprived these CSR funds. According to the Ministry of Rural Development, 115 of the 718 districts in India are backward. NITI Aayog suggests that corporates can contribute to the development of these districts. Jharkhand (19 districts, 1% CSR funds received); Bihar (13, 2%); Chhattisgarh (10, 1%); Madhya Pradesh (8, 3%); Odisha (8, 11%). While Maharashtra, Rajasthan, Gujarat, Karnataka and Andhra Pradesh, which account for only 15% of such districts, have received 60% of the CSR money. The most backward districts got only 13% of this year's funds and not more than 25% of the total projects. Companies have found convenient ways to direct their CSR funds and shrug off their social responsibility. In July 2018, 272 companies were served notices by the Registrar of Companies for non-compliance with CSR expenditure. Between July 2016 and March 2017, about 1018 companies were issued notices for non-compliance. KPMG has identified three principal areas of non-compliance - disclosure of direct and overhead expenditure on projects, details of overhead expenses, and keeping these overhead expenses below 5% of total CSR spends. Sujit Kumar Singh, senior program manager at Centre for Science and Environment (CSE), says, 'There is no data to know if companies are undertaking need-based assessment studies, a must since it prioritises the requirements of the impacted communities.' Mr. Singh adds, '...Often, professionals handling CSR are not trained to comprehend societal nuances. In most cases those heading the human resource department handle CSR activities. The need now is a policy which drive companies towards self-regulation, the key to CSR.' According to the reporting guidelines that CSE has prepared, 'Companies should self-regulate and be responsive to the disadvantaged, vulnerable and marginalised sections of society. They should respect and promote human rights, make efforts to protect and restore the environment, and support inclusive growth and equitable development. The guidelines show how to improve accountability and transparency in CSR spending, and make it an integral part of business.' Read on...

DownToEarth: Indian firms' CSR spending needs more accountability and transparency
Author: Vikrant Wankhede


Mohammad Anas Wahaj | 08 feb 2019

India's 'Development Agenda' as outlined by current government includes development of 100 smart cities, 40 million dwelling units, 20 million affordable homes, better infrastructure facilities through the AMRUT scheme, focus on urban development and transformation, slum rehabilitation, and 'Housing for All' by 2022. It is estimated that to fulfil this agenda there is requirement of 75 million skilled people in real estate and infrastructure. Moreover, according to reports there is need of 4 million core professionals (architects, engineers, planners). Shubika Bilkha, Business Head at The Real Estate Management Institute (REMI), explains the key aspects that architectural graduates and planners should keep in while building their skill set in evolving environment - (1) Be Multifaceted: Take advantage of a number of roles- from design architecture, structural or liaisoning architects, to urban planning, property development, sustainable development, teaching or getting involved with disaster relief/re-building communities. Require skills such as engineering, design, supervisory skills, managing people/teams/vendors/client expectations, an understanding of key building/designing/construction/smart technology, strong communication and persuasion skills to communicate their vision. Have much larger role and bigger scope getting involved from pre-design services, to cost analysis and land-use studies, feasibility reports, environment studies to developing the final construction plans etc. (2) Be Business Minded: Understand key real estate and planning concepts and calculations, municipal and local development regulations, legal limitations, the social and urban infrastructure, fundraising/financing and the evolving policy framework. (3) Be Responsible: Consider social and environmental impact of the recommendations. Understand sustainability and implement it effectively. Read on...

India Today: Architecture career trend in India: 3 things to keep in mind to be a skilled architect
Author: Shubika Bilkha


Mohammad Anas Wahaj | 31 dec 2018

In India there are central government run healthcare institutions, public state run institutions and private medical colleges that provide modern healthcare education mainly the four year degree MBBS and after that post-graduate degrees of MS and MD. India also have a number of institutions that provide degrees in other healthcare systems like Ayurveda (BAMS), Unani-Greek (BUMS), Homoeopathy (BHMS), Naturopathy etc. Moreover, there are vocational training institutes that provide skills and courses to develop other medical staff like nurses, health assistants etc. There are also corporate run and other private medical colleges and universities and training institutes. India's healthcare facilities are generally concentrated in urban areas while rural areas are generally served by public hospitals and centers. Private clinics are also present in both rural and urban areas. They are generally run by a single doctor or doctor couple and provide basic healthcare. Diagnostic centers are spread all over due to technological advancements and compact and affordable equipments. Healthcare has major disparities between urban and rural areas when it comes to healthcare access. Healthcare has become one of India's largest sectors - both in terms of revenue and employment. The industry comprises public and private hospitals, pharmaceutical companies, pathology and diagnostics, medical devices industry, clinical trials, outsourcing, telemedicine, medical tourism, health insurance and medical equipment. The public sector constitutes primary health centers, central research centers and hospitals, state-run research institutes and hospitals etc. The private sector provides majority of secondary, tertiary and quaternary care institutions with a major concentration in metros, tier-I and tier-II cities. According to National Family Health Survey-3, the private medical sector remains the primary source of health care for 70% of households in urban areas and 63% of households in rural areas. Rise of technology is creating new business models in the healthcare industry. Healthcare through smart phones and fitness trackers is new trend. Information technology is automating and streamlining various healthcare processes. Big data is creating new ways of improving healthcare delivery. Startups in India are promising to provide best healthcare at affordable cost more effectively. Latest healthcare equipment is not only imported but also manufactured in India. Digital technologies are enhancing every aspect of healthcare. Technology solutions are able to modernise current medical practices, reduce costs, eliminate any duplication of tests as well as streamline processes and update medical records in real time. Modern technology has great potential to increase access of healthcare services in rural communities, especially the ones where there is serious shortage of doctors. India has demonstrated since long a commitment to offer comprehensive healthcare to all citizens. This has been reaffirmed in the 12th Five-year Plan, National Health Assurance Mission, and more recently through Ayushman Bharat Program. However, the challenges remain and this goal has not been achieved as of yet. There are two critical components of successful healthcare systems. One is the financial aspects whereby citizens are protected against any eventuality and don't get into penury due to health spending. Second is the provision and delivery of healthcare services. It is imperative to ensure that healthcare infrastructure is sufficiently equipped to provide effective healthcare when needed by its citizens. Technology, public-private partnerships, access and affordability are the critical component in the future of India's healthcare. Better healthcare with policy, financial and physical framework will bring long-term benefits to the nation. Develop effective mechanisms to improve general health, and disease prevention strategies through campaigns, advocacy etc. To make India's citizens more aware about their health, inculcate better sanitization and cleanliness habits will help to improve overall health of India. Prevention before cure becomes the key for the country with the size and demographic profile like India. Health aware citizens, trained, sensitive and caring medical staff, cutting edge technologies and modern infrastructure, are the golden elements for a healthy future of India. Read on...

ilmeps/read: Healthcare in India: An Overview (Part 2)
Author: Mohammad Anas Wahaj


Mohammad Anas Wahaj | 17 dec 2018

India is adopting emerging technologies and its future progress will be defined by their effective utilization. A recent study by Cisco and IDC suggests that globally the net job addition in new technologies will be more than 5.9 million by 2027 out of which 1.4 million will be in India. India is building its capacities in Artificial Intelligence (AI) and Internet of Things (IoT). Government has special focus on AI, as between mid 2017 and early 2018, the government constituted two AI Task Forces, first under the Ministry of Commerce and the second under the Ministry of Defence. The Ministry of Information Technology has also set up four committees to encourage research in the field. Niti Aayog has also published the National Strategy for Artificial Intelligence. Similarly, efforts have been underway by goverment to promote the development and adoption of IoT since 2016 with the release of a draft policy on IOT by MeitY. Private sector too has made massive investments in IoT. Another technology that India has to focus on is Data Science as it has enormous potential in promoting development and humanitarian efforts. Data Science has the capability to provide effective solutions to problems faced by the developing world. It can significantly make an impact in decision and policy making. India has to understand the advantages of using Data Science to complement policy efforts and exploit its potential accordingly. Read on...

The Economic Times: India cannot afford to ignore Data Science
Author: Deepakshi Rawat


Mohammad Anas Wahaj | 27 nov 2018

Corporations are encouraging their employees to volunteer as part of their corporate social responsibility efforts. Experts recently conducted a workshop to discuss different stages of volunteering, scaling up the volunteer programs and how companies can use volunteering for better employee engagement, learning and alignment. Aditya Nagpal, Director and BU Head at Goodera, said, 'Our goal is to use technology and data to simplify volunteering, so more people are able to do good at scale. We feel that employee volunteering lies at the perfect intersection of people, planet and profit.' According to him companies go through five stages of volunteering - (1) Informal volunteering (2) Support and encouragement by launching initiatives (3) Planning initiatives strategically (4) Volunteering becomes essential component (5) Volunteering programs attain brand status. Svetlana Pinto, Country Head Communications & CSR at Novartis India, said, 'There are many advantages of volunteering that we have seen in our journey so far. Interestingly, we have found a lot of enthusiasm in the younger lot that is joining the workforce. Other things being equal, they would look more favourably towards an organization with a soul that helps them give back to the community. Volunteering has also helped in building a greater team spirit.' Ester Martinez, CEO & Editor-in-Chief of People Matters Media, conducted a session on 'Designing volunteering experiences for your workforce: Is your organization volunteering ready?' He addressed four challenges - getting started; sustainability of employees; architecting a good experience; policymaking. To overcome them it is important to have clear communication of values, better engagement of employees and a good reward and recognition program. Read on...

People Matters: Designing volunteering experiences for your workforce
Author: Sharon Lobo


Mohammad Anas Wahaj | 24 nov 2018

There are many sides to India's agriculture story. But, what we often hear is the sad one of farmer poverty and suicides. Although many challenges remain including that of humanitarian crises of farmer suicides, but Indian agriculture is going through many positive transformations. According to recent data, tractors sales ended the last fiscal year with a growth of 22% due to good monsoon and strong rural demand. Improvements in road connectivity has boosted tractor sales even in the remote parts of Jharkhand, Telangana, Haryana and other states. The Bloomberg Indian rural economy indices provide a steady upward movement in rural output growth. Two-wheeler sales, a positive indicator of rural growth, have also picked up in recent months. Moreover, there are other visible innovative aspects of Indian agriculture that are good news. India is one of the biggest agrarian economies and even though it lacks in productivity but with 30% of world's organic farmers it is the largest organic farming country. People like Subhash Palekar, who preaches 'zero budget spiritual farming', or farming using only natural and low-cost fertilisers and techniques, are bringing the much needed change. His work has had an impact on 400000 farmers in Maharashtra and adjoining states. Top Indian restaurants and chefs now promote black rice and brown rice grown in India. Customers are also willing to pay a premium for organic produce, thus encouraging cropping up of startups and entrepreneurial ventures in organic farming space. Sikkim has recetly won a prestigious United Nations award for its status as an organic food-only destination. There are also innovations happening in dairy sector with startups putting the certain regions into limelight. India remains as one of the top milk producing countries in the world. Indian agri-tech startups have grown to such an extent that they now have their own exlusive expo that promotes diverse innovations like new pumping techniques, soil testing and management systems, and raw food supply chain breakthroughs. Read on...

Fortune: How to join the dots of growth in Indian agriculture
Author: Hindol Sengupta


Mohammad Anas Wahaj | 13 oct 2018

Indian corporates that fulfil the conditions of Section 135 of the Companies Act 2013 relating to mandatory spending of 2% of last 3 years average profit on CSR are making a difference in vulnerable communities in India. According to the latest India CSR Outlook Report published by NGOBOX, Reliance Industries, HDFC Bank, Wipro, Tata Steel, NTPC, Indian Oil Corporation & ONGC spent more than their prescribed CSR budgets in FY 2017-18. The report analyzed CSR spends of 359 companies. The prescribed CSR budget of these 359 companies was Rs 9543.51 crore whereas the actual CSR spend was Rs 8875.93 crore (3/4th of total CSR spend in India). There is an increase in the prescribed CSR from 6% to 8% in the actual CSR spend from FY 16-17 and the number of projects have also increased by 25% from the previous year. REPORT HIGHLIGHTS: Maharashtra, Karnataka and Gujarat together received over 1/4th of India's total CSR fund. North-eastern states of Nagaland, Meghalaya, Mizoram and Tripura have received least funds; Public sector contribution is over 1/4th of the total; Oil, refinery and petrochemicals account for alsmost 1/4th of the total while healthcare and pharma contributes the least with just Rs 294 crore; CSR funding on education and skill increased by 50% from last year and is 1/3rd of the total CSR spend; Over 1/4th is spend on WASH (Water, Sanitation and Hygiene) and healthcare projects. Read on...

Business Today: Corporates spend 50% CSR funds in education, skill development: Report
Author: Sonal Khetarpal


Mohammad Anas Wahaj | 29 sep 2018

As retail in India grows and get more organized, diversity among retail leadership will become visible. Women in retail have a major role to play as women consumers are a big demographic and they have very specific needs and wants. Here are 5 women entrepreneurs who have taken the mantle of leadership in various areas of retail - (1) Farah Malik (Managing Director, Metro Shoes Ltd.): '...Retail had always excited me and I have never regretted the decision of joining the business. The fashion retail industry is extremely demanding and women still often have to make a choice between a family life and a career...' (2) Rashi Menda (CEO & Founder, Zapyle): 'The whole eco-system is very different from what it was 3 years back and I think that the biggest challenge that any woman entrepreneur would face in today's world lack of understanding of one's own abilities...For me, forming a winning team and hiring the right people was the biggest challenge...' (3) Shubhika Jain (Founder, RAS Luxury Oils): 'When I initially joined family business it was difficult for the existing staff to accept a young lady as their head. I had to prove myself to be worthy by way of executing tasks and handling situations in a mature and strategic manner...India has as many as 9% of women entrepreneurs...Yet there are a lot of problems that women have continued to face in this country.' (4) Jagrati Shringi (Co-Founder & CTO, Voylla): 'More women entrepreneurs need to look at the big picture and think about scaling up, sustaining and growing their businesses. Despite extremely talented individuals, there aren't enough women driving big brands...there is a need for more skilled women to look beyond the safety net of IT and other jobs to realise their career goals.' (5) Trishla Surana (Founder, Colour Me Mad): 'While women entrepreneurs form only 3% of the total universe of the entrepreneurs in India, it is welcoming that people are becoming more open to having women as bosses. Also, women today need to focus more on upgrading their skills, understanding interface of design and technology and get as much exposure as they can to achieve their dreams...' Read on...

Indian Retailer: How these 5 Women Entrepreneurs Are Making a Difference in Retail Industry?
Author: Tanya Krishna


Mohammad Anas Wahaj | 15 sep 2018

India's large size with huge population (1.25 billion), substantial part of which resides in rural and underdeveloped regions, brings both challenges and opportunities for implementing healthcare policies and initiatives, both public and private. Over the years ineffective implementation of such initiatives at various levels, has created lopsided infrastructure and uneven development in healthcare. Indian health system also lacks effective payment mechanism and has a high out-of-pocket expenditure (roughly 70%). Adverse health events (health shocks) have considerable impact on India's overall poverty figures, adding about seven percentage points. Health is associated with the overall wellness of the citizens. Good health reflects on the productivity and growth of the nation. More so in the case of India as substantial population is young. India has more than 50% (about 662 million) of its population below the age of 25 and more than 65% below the age of 35. By 2020, the average age of India's population is expected to be 29 years. Aging of this large population will happen at the same time. Having adequate infrastructure is key to avoid a massive health catastrophe for this elderly population in future. Health is also a key issue in the public policy sphere. In the public policy context healthcare issues are often related to accessibility, affordability, socio-economic disparities, healthcare delivery mechanisms, illness and diseases and their impact on society etc. India have a conceptual universal health care system run by the constituent states and union territories. The biggest challenge is to make it accessible and affordable for the overall population. Read on...

ilmeps/read: Healthcare in India: An Overview (Part 1)
Author: Mohammad Anas Wahaj


Mohammad Anas Wahaj | 28 jul 2018

India has to give special emphasis to agriculture to ensure food security for its large population. Recent report, 'Agricultural Policies in India' (Authors: Ashoka Gulati, Infosys chair professor for agriculture at ICRIER; Carmen Cahill, Deputy Director for trade and agriculture at OECD), jointly developed by Organisation for Economic Co-operation and Development (OECD) and Indian Council for Research on International Economic Relations (ICRIER), provides outcomes of the research conducted for over two years to map and measure the nature of agricultural policies in India and how they have impacted producers and consumers. The report includes key policy indicators like the producer support estimates (PSEs) and consumer support estimates (CSEs). According to the authors of the report, 'The methodology adopted is a standard one that OECD has applied to measure PSEs and CSEs for 51 countries over the last 30 years. In the case of PSEs, it basically captures the impact of various policies on two components: (a) the output prices that producers receive, benchmarked against global prices of comparable products; and (b) the various input subsidies that farmers receive through budgetary allocations by the Centre and states. The two are combined to see if farmers receive positive support (PSE), or negative, as a percentage of gross farm receipts. A positive PSE (%) means that policies have helped producers receive higher revenues than would have been the case otherwise, and a negative PSE (%) implies lower revenues for farmers (a sort of implicit tax) due to the set of policies adopted.' The report found India's PSE, on average, during 2014-15 to 2016-17 was -6% of farm receipts. Contrary to this most other countries have positive PSEs. Overall, PSE (%) was negative to the tune of 14%, on average, over the entire period from 2000-01 to 2016-17, indicating that, despite positive input subsidies, farmers in India received 14% less revenue due to restrictive trade and marketing policies. To incentivise farmers to raise productivity, build an efficient and sustainable agriculture that augments farmers' incomes and foster rural growth and jobs all along the value chain, authors suggest - (1) Change policies to 'get the markets right' by reforming domestic marketing regulations (ECA and APMC), promoting a competitive national market and upgrading marketing infrastructure. Also review restrictive export policies for agri-products. (2) The report recongnizes concerns of the policymakers to protect consumers from price rise. But, it argues for switching to an income policy approach through a direct benefit transfer (DBT) targeted to the vulnerable sections of the population. (3) Indian agriculture and farmers would be much better off if input subsidies are contained and gradually reduced, and the equivalent savings are channelled simultaneously towards higher investments in agri-R&D, extension, building rural infrastructure for better markets and agri-value chains, as also on better water management to deal with climate change. (4) A greater degree of coordination is required between the Centre and the States, and also across various ministries, for a more holistic approach towards reforming agriculture. Read on...

Financial Express: From plate to plough: India must get its agri-markets right
Authors: Ashoka Gulati, Carmel Cahill


Mohammad Anas Wahaj | 22 jun 2018

According to Korn Ferry's 'The Salary Surge' report, India would be the only economy that will not face an upward revision of wages by 2030, as it has a talent surplus, bucking the global trend of a talent crunch. For organizations around the world lack of highly skilled talent supply will drive up salaries for the most in-demand workers and is expected to add more than US$ 2.5 trillion in annual labour costs by 2030. The Global Talent Crunch analysed global demand for labour at three key milestones, 2020, 2025 and 2030, in 20 markets, including in India, across three sectors, financial and business services, technology, media and telecommunications (TMT) and manufacturing. Wage premiums by 2030 - US (US$ 531 billion); Germany (US$ 176 billion); Japan (US$ 468 billion); China (US$ 342 billion) Asia Pacific (US$ 1 trillion); Singapore and Hong Kong (10% of 2017 GDP). Wage premium per worker per year by 2030 - Asia Pacific (Average US$ 14710); Hong Kong (US$ 40539); Singapore (US$ 29065); Australia (US$ 28625). Dhritiman Chakrabarti, Head of rewards and benefits for the APAC region at Korn Ferry, says, 'The new era of work is one of scarcity in abundance, there are plenty of people, but not enough with the skills their organisations will need to survive. While overall wage increases are just keeping pace with inflation, salaries for in-demand workers will skyrocket if companies choose to compete for the best and brightest on salary alone.' Manufacturing, one of the sector that is a critical driver of growth for emerging economies, may be stalled by the huge impact of the salary surge. Read on...

The Economic Times: India to be lone economy facing suppressed wages by 2030: Study
Author: NA


Mohammad Anas Wahaj | 31 may 2018

According to British Council's 2016 report, 'The State of Social Enterprise in Bangladesh, Ghana, India and Pakistan', there are more than two million social enterprises in India with 24% of them led by women. India is one of the fastest growing economy and it needs more social entrepreneurs to tackle socio-economic problems. Women have to enhance their participation. But, existing stereotypes alongwith lack of investor confidence are major hurdles in the way. According to the World Bank, labour force participation rate for women in India has fallen from 37% in 2004-05 to 27.2% in 2017, which is quite low in comparison to developed nations. Increasing participation of women in workforce is vital for balanced growth of the country. Archana Raj, Team Leader at Save The Children, says 'Despite these low indicators, it is worth mentioning that there are new generation women who have broken the barriers of societal norms and regressive mindsets to pave way to the new world of entrepreneurship. Over the past few years, it has been observed that more women are choosing this as a career over other options, making a mark in the start-up ecosystem. Nonetheless, the aim must be to reach higher, which can help the rest of the women of our country to rise beyond the barriers and choose for themselves.' Jamie Cid, a social entrepreneur and founder of MobiHires, says, 'I think that there is a great opportunity for women social entrepreneurs in India, especially mothers returning to the workplace, who develop products and services based on their experience and solve problems in their community. With platforms like Sheroes, Reboot, SheThePeople and Lean In India initiatives that support and invest in women social entrepreneurs, this is the right time to be one.' In one of the blog posts of World Bank, Monique Villa, CEO of Thomson Reuters Foundation and founder of TrustLaw and Trust Women, gives the example of Ajaita Shah who works in rural regions of India. Shah's organisation, Frontier Markets, sells and distributes products to rural households. The organisation calls itself a 'for-profit business with a social mission'. According to the Thomson Reuters Foundation, India ranks 35th among countries that are the best for women social entrepreneurs, with the US, Canada and the UK occupying the top three positions. Manju Yagnik, vice chairperson of Nahar Group and member of Indian Merchant Chamber, says, 'I personally do not believe in male-female classifications. I do not think capabilities and talent can be differentiated as per gender. Today's women do not seek sympathy. They want equal opportunities when it comes to decision-making in financial capabilities, which is still male-dominant. Thankfully, with the modern society promoting and striving for gender equality, the position of women is improving year after year. Women entrepreneurs in India are bringing revolution and growth in the public and private sectors. With the help of government initiatives, they will grow further.' Manisha Gupta, founder and director of Start Up!, says, 'Regardless of whether a woman is a social or business entrepreneur, she has to negotiate through an ecosystem that has been structured for men to succeed. Not only do we need more women social entrepreneurs but also an ecosystem where there are more women leaders at every level. We need them as coaches, investors, in finance, as leading incubators, etc to break the template.' Citing challenges women face, Ms. Raj comments, 'Pressures of social norms and societal biases force women to give up the job while tough competitive market further make their work challenging.' Ms. Yagnik feels the need for more women entrepreneurs in India. She says, 'Social entrepreneurship might be a great opportunity for Indian women professionals to break through the glass ceiling that typically exists in traditional corporate life.' Ms. Cid suggests social entrepreneurs to stay positive and focus on the bigger purpose and stay passionate about their goal. Explaining capabilities of women entrepreneurs, Ms. Gupta says, 'I always say that women social entrepreneurs use the 3Rs - resilience, relationship and resistance – to build and grow their ventures. They are masters of resilience, I have seen many women without any resources, standing on their own and building a business in rural regions. They also demonstrate strong capabilities of building connections and meaningful relationships with stakeholders which takes them far.' Read on...

SME Futures: Nascent social entrepreneurship sector in India is beginning to look at women leaders for growth
Author: Anushruti Singh


Mohammad Anas Wahaj | 24 may 2018

Design as a separate field is getting more recognition in India. Policy initiatives like 'Design in India' and 'Make in India' will give design further impetus and assist in creating a thriving design ecosystem. India now have 30 to 35 design schools, most of them came up in the last few years. Prof. Anirudha Joshi of Industrial Design Centre at IIT-Bombay explores the condition of design education in India and suggests ways to make it better and more in tune with industry. He lists prevalent gaps between academia and industry - what is taught in design schools and what a professional designer need to do - (1) Uninentional gaps: Things that left out in design curriculums. Course duration is shorter than what is needed to become a good designer. (2) Lack of industry/hands-on environment: Certain things are best taught in industry setup and academic setup doesn't suit them. (3) Intentional gaps: Design school is not supposed to prepare students only for industry. Focus is on developing thought leaders having theoretical concepts and not just skills and training. (4) Limited availability of design teachers. (5) Lack of strong tradition in design research. (6) Lack of design education infrastructure. There is demand/supply gap in terms of skilled human resources. As the industry is growing, at least five million designers are required as compared to the current approximately 20000 designers. Many sectors like manufacturing, small scale industries, small printing and publishing houses etc, although have need for designers but can't afford one in the present scenario. Moreover, the focus of current designs is more global and there are few instances of designs that are specific to the Indian market. More emphasis should be given to designers that specifically focus on India. Read on...

PrintWeek: Design education in India
Author: Anirudha Joshi


Mohammad Anas Wahaj | 22 may 2018

Artificial Intelligence's (AI) potential for healthcare transformation is becoming visible. AI health market is expected to increase exponentially from US$ 600 million in 2014 to US$ 6.6 billion by 2021. Rana Kapoor, MD & CEO of YES Bank and Chairman of YES Global Institute, explains how AI can redefine and revolutionize healthcare and transform existing healthcare sytems into 'smart wellness' delivery mechanisms. In the context of India, he says, 'With the Indian healthcare market estimated to grow to US$ 372 billion by 2022, coupled with growing healthcare needs of a 1.3 billion strong population, successfully leveraging AI, is vital to catapulting the 'healthcare of today' into the 'health-tech of tomorrow'.' He provides four ways AI can catalyze change in healthcare - (1) Economising healthcare costs through machine learning and big data. Integrating big data with wellness could potentially save the healthcare industry up to US$ 100 billion per year. (2) Merging cognitive computing and healthcare can potentially mitigate estimated global shortage of 12.9 million healthcare professionals by 2035. AI-powered applications can augment the services of physicians and expand healthcare outreach at affordable costs. (3) Enhanced diagnosis and identification of diseases. Through algorithms and analysis of big data patterns, AI can detect trends to enhance disease diagnosis and create treatment plans in order to efficiently streamline the healthcare needs of a patient. (4) AI and Internet of Things (IoT) can lead to personalization and more patient-centric approach to healthcare. Wearable gadgets powered by AI can capture and store health data of individuals and play an important role in preventive treatment. Mr. Rana further suggests, 'In India, where we rank a lowly 154th in the Healthcare Access and Quality Index, we must make collaborative efforts to unlock the potential of AI to create an enabling health technology ecosystem to match demand, optimise costs, and demonstrate value.' Read on...

The Indian Express: The health-tech of tomorrow
Author: Rana Kapoor


Mohammad Anas Wahaj | 29 apr 2018

According to the report by Indian Council for Research on International Economic Relations (ICRIER), 'Anatomy of an Internet Blackout: Measuring the Economic Impact of Internet Shutdowns in India', 12615 hours of mobile Internet shutdowns in India cost the economy approximately US$ 2.37 billion and 3700 hours of mobile and fixed line Internet shutdowns in India resulted in a loss of approximately US$ 678.4 million during the period 2012 to 2017. Most affected by the shutdowns were e-commerce businesses and online freelancers operating from small towns. Tourism is another sector affected. Rajat Kathuria, Director & CEO of ICRIER, says, 'The objective of the study is not to pronounce on the efficacy of a state decision on an Internet blackout, rather to estimate the economic costs associated with the event. However, policy makers would be well advised to consider these costs in the final decision on a shutdown. If digital use were to proliferate as envisaged under the Digital India programme, the magnitude of loss could increase in the future.' Read on...

Firstpost: Indian economy suffered a loss of estimated $3 billion due to internet shutdown during 2012-17 - Study
Author: NA


Mohammad Anas Wahaj | 22 apr 2018

According to a report by The Times of India, engineers in India are now showing more interest in the automobile industry as compared to the usual IT industry, signalling a boom time for the more traditional manufacturing sector. Tightening of US visa rules, streamlining of staff by big IT companies and increasing importance of big data and artificial intelligence in automobile industry are some factors promoting this shift. NASSCOM says that IT sector will see single-digit growth for the third-consecutive year and jobless growth for the second year. Gopal Mahadevan, CFO of Ashok Leyland, says, 'Earlier mechanical engineers were going to the IT industry but now they're coming back. There appears a reverse brain drain happening and suddenly we're getting lots of applications from this segment, much more than in the last 3 years.' According to the Naukri Jobspeak data for March 2018, there has been significant hiring growth for the auto industry. The sector has witnessed a 33% growth in March 2018 compared to March 2017. Rajan Wadhera, President of Automotive Division at Mahindra & Mahindra, says, 'The IT allure is beginning to wear off as that segment has almost reached a saturation point. The pay growth is also not as good as it once was. So the attraction to join the auto industry is back.' Thammaiah B. N., MD of Kelly Services, says, 'Product specialists are in demand and their experience levels are in the tune of 8 to 10 years or higher. The auto industry itself has stepped up its hiring by 30% and IT has been a major contributor.' Read on...

The Economic Times: Automobile industry is the new IT for India's engineers
Author: NA


Mohammad Anas Wahaj | 27 mar 2018

Ineffectively designed education and training system breeds unemployability. As former President of India Late A.P.J. Abdul Kalam had rightly once said, 'It is not unemployment, which is a major problem; it is the question of 'unemployability', which is a bigger crisis.' According to the recent TeamLease Services' survey report 'Industry Opportunity Based Vocational Course Design', that included 105 organisation and 65 students, 'The vocational education ecosystem in its current form has not succeeded in creating adequate employable job seekers in India as more than 60% candidates and employers find these courses ineffective.' The report also mentions that only 18% of the students undergoing voc-ed (vocational education) courses get jobs, of which merely 7% are formal jobs. The survey highlights the reasons of disconnect between courses and industry - unavailability of quality academic content, lack of funds and negative perception about courses. Neeti Sharma, SVP of TeamLease, says, 'With advancement in technology, improved infrastructure and easy access to domestic and global market, job profiles are continuously and rapidly evolving every day. The need of the hour is advanced vocational skills training...' Read on...

The Economic Times: Vocational education mostly ineffective in India - Survey
Author: NA

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