IndUS Business Journal

India’s business intelligence software revenue to hit $245 million in 2017: Gartner

Jun 6, 2017 0

Mumbai– Indian business intelligence (BI) software revenue is forecast to reach $245 million in 2017 — a 24.4 per cent increase over $206 million revenue last year — market research firm Gartner said on Tuesday.

This forecast includes revenue for BI platforms (comprising of traditional and modern BI platforms), data science platforms, analytic applications and CPM Suites, Gartner analysts said during the “Gartner Data and Analytics Summit” here.

“The data and analytics market is undergoing a significant change. Adoption of machine learning techniques for data management and analytics, the settling of hype around big data through more mature data storage and processing and analysis solutions are a few of the changes,” Ehtisham Zaidi, Principal Research Analyst at Gartner, said in a statement.

“We are also seeing the rapid shift to the cloud and hybrid data management through focused offerings and the emergence of modern BI platforms, smart data discovery and self-service data preparation solutions, which are all fueling the next round of investments,” Zaidi added.

Indian Chief Information Officers (CIOs), Chief Data Officers (CDOs) and other data and analytics leaders are advised to evolve traditional approaches to focus on business outcomes, go with the market trends, benefit from algorithmic business, adopt new technologies and most importantly build trust.

“We are also seeing a huge focus on Internet of Things (IoT) data integration, data management and analytics by Indian companies, particularly in the consumer packaged goods (CPG) and manufacturing sector, who are determined the lead the market through competitive differentiation in these key areas,” Zaidi noted.

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Government’s top economist cautions over cattle slaughter ban

Jun 6, 2017 0

New Delhi–The government’s Chief Economic Advisor Arvind Subramanian has sounded caution over the cattle slaughter ban, saying such policies could “adversely” impact the economics of livestock farming in India.

Addressing fellows of the National Academy of Agricultural Sciences (NAAS) here on Monday evening, Subramanian said while the governments had the right to frame social policies but considering economic costs of such policies was also imperative.

“On dairy and livestock, two points are worth emphasizing. The governments have the right to choose their social policies. But in doing so, they must be fully aware of the economic costs of these policies.

“If social policies impede the workings of the livestock market, the impact on the economics of livestock farming could be considerable. These must be costed for appropriate choices to be made,” the economist said giving the foundation day lecture of the government-funded institute that conducts research in agriculture and allied sectors.

He stressed that the economics of livestock farming “must be recognised” also because “the fate and future of this source of livelihood will depend critically on the terminal value of … the no-longer-productive livestock.

“If social policies drive this terminal value precipitously down, private returns could be affected in a manner that could make livestock farming less profitable.”

Arvind Subramanian

Subramanian said the declining terminal value arises because of two factors — loss of income from livestock as meat and the additional costs to maintain an unproductive livestock.

“But there is more. It is possible that social policies could affect social returns even more adversely. Stray cattle, and a lot of it, will have to be looked after, otherwise diseases (like foot and mouth) could spread, leading to health hazards and social costs.”

He said Indians who under-consume proteins “to the detriment of their health” needed “both reduced cereal-centricity and at the same time promoting – not hindering – alternative sources of protein from pulses, dairy and livestock”.

The economist’s caution follows Environment Minister Harsh Vardhan’s comments that the government was alive to the concerns over the new rules governing cattle trade and slaughter.

The Environment Ministry last month notified its ban on the sale and purchase of livestock for slaughter in animal markets across the country, triggering widespread criticism. (IANS)

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NEC launches $10 million center for big data analytics in India

Jun 6, 2017 0

New Delhi– In a bid to strengthen big data analysis services in India as well as globally, Japanese technology firm NEC Corporation and NEC Technologies India Private Limited (NTI) on Tuesday announced the launch of a “Centre of Excellence for Analytics Platform and Solutions” (COE-APS) in the country.

NEC aims to achieve revenue of over $100 million within three years of the COE-APS’s establishment, being set-up with $10 million over the same period.

The centre will promote solutions and services of NEC’s Big Data and Analytics Platform, titled “Data Platform for Hadoop (DPH)”.

“The new Centre of Excellence is an important step towards utilising big data analytics and NEC’s Data Platform for Hadoop to provide benefits for government bodies and enterprises in India and across the world,” said Tomoyasu Nishimura, Senior Vice President, NEC Corporation, in a statement.

The COE-APS will simplify digital transformation for both customers and partners in the telecom, retail, banking, financial services, insurance and manufacturing sectors as well as government organisations.

The centre will initially focus on markets that include Japan, India, Singapore, Philippines and Hong Kong and gradually expand services in other countries.

The COE-APS will leverage the computational power and scalability of NEC’s specialised hardware for big data and analytics to flexibly handle the ever-increasing demand for storage and computation by Hadoop. (IANS)

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Sonia, Manmohan attack government’s handling of economy

Jun 6, 2017 0

New Delhi–In a sharp attack on demonetisation, Congress President Sonia Gandhi on Tuesday called it a “disaster” while former Prime Minister Manmohan Singh said latest GDP data showed India’s economic growth had slowed down sharply.

Speaking at the Congress Working Committee (CWC) meeting here, Gandhi said the prediction of Manmohan Singh, an economist himself, that the demonetisation would slow down India’s economic growth had proved right.

Gandhi also said the government’s experiments and policies were characterised by poor planning and shoddy implementation.

Manmohan Singh

“They have been disastrous for our social and economic fabric. If we just look at demonetisation, which was touted as a great success, till today the government refuses to disclose how much of the demonetised currency in circulation was actually returned to the banks.

“It isn’t that the Reserve Bank of India has forgotten how to count money; it is that the actual numbers show that the scheme was a disaster. The recently released growth figures prove that Manmohan Singh’s forecast that demonetisation will slow down economic growth is correct,” Gandhi said.

The Congress chief said not just demonetisation but even the ‘Make in India’ initiative of the Narendra Modi government had failed to create jobs or attract investment.

“Unemployment is rampant. Farmers across the country are in severe distress, forcing them to commit suicide. Manifesto promises that should have been fulfilled in 2019 are now being shifted to 2022,” she said.

Intervening in the discussion on the economic situation, Manmohan Singh said Gross Value Added (GVA), a true sub-measure of economic activity, had experienced a steep and sustained fall.

Sonia Gandhi

“Private sector investment has collapsed and the economy is running on just one engine of public spending. The GVA growth of industry has fallen from 10.7 per cent in March 2016 to just 3.8 per cent in March 2017, a decline of nearly seven percentage points of growth,” Singh said, referring to the Gross Domestic Product numbers for the fourth quarter as well as the entire 2016-17 fiscal released last week.

Manmohan Singh had attacked demonetisation in Parliament, describing it as a “monumental mismanagement” and a case of “organised loot and legalised plunder”. He had said it will drag the country’s GDP by 2 percentage points.

Singh told the CWC: “The most worrisome aspect of all this is the impact on job creation. Jobs have been extremely hard to come by for the youths. The construction industry — one of the largest employment generators in the country — has suffered a contraction. This implies loss of millions of jobs.”

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India to receive 98 percent monsoon

Jun 6, 2017 0

New Delhi– India will receive 98 per cent rainfall during this monsoon between June to September with an error estimate of four per cent, the India Meteorological Department (IMD) said on Tuesday.

Earlier on April 18, based on then available weather patterns the IMD had forecast a normal monsoon with average rainfall of around 96 per cent on the whole, with an error estimation of plus-minus five per cent.

“The final forecast based on different models suggests that the season’s rainfall for the country as a whole is likely to be 98 per cent of the long period average (LPA),” M. Mahapatrta, IMD scientist, told IANS.

The IMD in its forecast said that the long period average rainfall over the country as a whole for the period 1951-2000 was 89 cm.

Individual prediction based over broad geographical areas suggest that central India, that includes Odisha, Madhya Pradesh, Gujarat, Maharashtra and Chhattisgarh, will get 100 per cent of the LPA.

“The season rainfall is likely to be 96 per cent of LPA over northwest India, 100 per cent of LPA over central India, 99 per cent of LPA over south peninsula, and 96 per cent of LPA over northeast India, all with a model error of plus-minus eight per cent,” the IMD said.

Under northwest India fall Uttar Pradesh, Uttarakhand, Haryana, Delhi, Punjab, Himachal Pradesh, Jammu and Kashmir and Rajashtan.

Under south peninsula fall Andhra Pradesh, Telangana, Tamil Nadu, Karnataka, Kerala, the Lakshadweep, and the Andaman and Nicobar Islands.

Under northeast India come Assam, Manipur, Meghalaya, Mizoram, Nagaland and Arunachal Pradesh.

“Monthly rainfall over the country as a whole is likely to be 96 per cent of its LPA during July and 99 per cent during August both with a model error of plus-minus nine per cent,” the IMD said.

However, the experimental forecast based on one of the models — Monsoon Mission Coupled Forecasting System (MMCFS)– suggests that the monsoon rainfall during 2017 would average 100 per cent over the country as a whole and was likely to be with an error estimation of plus-minus five per cent.

According to the weatherman, below 90 per cent rainfall is considered deficient and at 95 per cent, it is considered below normal.

A figure between 96 and 104 per cent of rainfall indicates a normal monsoon and between 105 and 110 per cent above normal. (IANS)

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Indian Press Club condemns “attempt to intimidate media”

Jun 6, 2017 0

New Delhi–The Press Club of India (PCI) on Tuesday expressed “concern” over CBI raids on NDTV network’s premises and houses of its co-founder Prannoy Roy and said it condemned “any attempt to intimidate the media or put curbs on its freedom”.

“We express grave concern over Central Bureau of Investigation (CBI) raids on NDTV premises,” PCI President Gautam Lahiri said in a statement here.

He said that “while we maintain that all individuals and every institution has to abide by the law of the land, we condemn any attempt to either intimidate the media or put curbs on its freedom”.

The PCI chief said all facts of the case, filed by the CBI, must be placed in the public domain and that the investigating agency should not harass the media organisation or place any hindrance in the news operations of the channel.

In a move that sparked outrage in media circles and which the NDTV said was “a blatant political attack on the freedom of the press”, the CBI on Monday conducted searches at the houses of Prannoy Roy for allegedly causing financial losses to a private bank.

The CBI registered a case against Roy and his wife Radhika and conducted searches at his south Delhi residence in Greater Kailash-I and his house in Dehradun for “loss of Rs 48 crore to the ICICI Bank”, officials said. (IANS)

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Half of India’s under-18 population lives in poverty: Study

Jun 5, 2017 0

London–At least half of India’s under-18 population lives in acute poverty, reveals a “deeply disturbing” study from Oxford University.

Across the 103 low and middle income countries surveyed, children were found to constitute 34 per cent of the total population, but 48 per cent of the poor, based on a measure that assesses a range of deprivations in health, education and living standards.

The international definition of a child, used in the study, was anyone less than 18 years of age.

“These new results are deeply disturbing as they show that children are disproportionately poor when the different dimensions of poverty are measured,” said Sabina Alkire, Director of Oxford Poverty & Human Development Initiative (OPHI) at the University of Oxford.

The research examined the latest figures for the Global Multidimensional Poverty Index (MPI) by age group to analyse the particular situation of 1.8 billion children who live in 103 countries.

MPI complements traditional income-based poverty measures by capturing the severe deprivations that each person faces at the same time with respect to education, health and living standards.

The MPI assesses poverty at the individual level. If someone is deprived in a third or more of ten (weighted) indicators — nutrition, child mortality, years of schooling, school attendance, cooking fuel, improved sanitation, safe drinking water, electricity, flooring, assets — the global index identifies them as “MPI poor”.

The extent — or intensity — of their poverty is measured by the number of deprivations they are experiencing.

According to the OPHI, nearly two out of every five children — a total of 689 million children — are classed as multi-dimensionally poor.

Half of South Asia’s children and two thirds of Sub-Saharan children are multi-dimensionally poor, according to the study.

In 36 countries, including India, at least half of all children are MPI poor.

The condition of children is worse in Ethiopia, Niger and South Sudan where over 90 per cent of all children are MPI poor, according to the study which highlights the challenges that the UN’s new Sustainable Development Goals for the eradication of child poverty face.

“This is a wake-up call to the international community which has adopted the global Sustainable Development Goals and takes seriously Goal 1, the eradication of poverty in all its forms and dimensions,” Alkire said in a news release.

“Children are our future workers, parents and citizen/voters. Investing in them brings benefits now and also in the future,” Alkire added.(IANS)

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Coca-Cola to contribute $1.7 billion in India’s agri ecosystem in 5 years

Jun 5, 2017 0

Mumbai–Beverages multinational Coca-Cola’s Indian arm on Monday said it will contribute over $1.7 billion in the agri ecosystem of the country over the next five years.

According to the company, close to $800 million of this contribution would be towards the procurement of processed fruit pulp and fruit concentrate for its increasing portfolio of juice and juice drinks and carbonated drinks with juice products in India, and the remaining would be invested towards creating the required infrastructure.

The company also launched its Minute Maid Pulpy Mosambi beverage, produced with fruits locally sourced from Jalna in Maharashtra.

“An estimated 2,00,000 farmers will benefit from this five-year roadmap of sourcing fruit pulp and fruit concentrate derived out of 2.10 million tonnes of fruit,” the company said in a statement.

The company said that through this initiative, its bottling partner Hindustan Coca-Cola Beverages, 13 other independent franchise bottlers and fruit processing companies will invest around $900 million on manufacturing lines, juice bottling infrastructure and fruit processing plants and equipment and agriculture interventions over the next five years. This will help support the demand and the growing range of its non-carbonated drinks portfolio.

“More than 1,800 million tonnes of the Mosambi fruit has already been sourced from Jalna in Maharashtra for the first phase of the Minute Maid Pulpy Mosambi production. The investments announced today by Coca-Cola will further catalyse economic growth and create new opportunities for farmers and local suppliers,” said T. Krishnakumar, President, Coca-Cola India and Southwest Asia. (IANS)

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India’s service sector regains momentum in May

Jun 5, 2017 0

Mumbai–India’s service sector recovered last month due to a faster pace of new business generation and historically muted inflationary pressure, a key macro-economic data showed on Monday.

The seasonally adjusted Nikkei India Services PMI Business Activity Index registered a higher rate of expansion at 52.2 in May, up from April’s 50.2. An index reading of above 50 indicates an overall increase in economic activity, and below 50 an overall decrease.

The higher Services PMI coupled with Nikkei India Manufacturing PMI led to an accelerated growth in overall activity of India’s private sector.

Consequently, the Nikkei India Composite PMI Output Index reached a seven month high of 52.5 last month from 51.3 in April.

“The pick-up in service sector growth seen mid-way through the first quarter (FY) suggests that GDP could expand at a faster rate should growth momentum be maintained in June, though there are downside perils to this,” said Pollyanna De Lima, Economist at IHS Markit, and the author of the report.

“Despite accelerating from April, rates of increase in both services activity and new work are much weaker than typical for India. Moreover, business confidence fell as a reflection of firms’ concerns regarding competitive pressures and lacklustre demand.”

According to Pollyanna De Lima, the “uninspiring growth” of the manufacturing sector may prompt the Reserve Bank of India (RBI) to lower the benchmark rate in order to support the economy. (IANS)

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IT sector employees urge Karnataka to stop “illegal layoffs”

Jun 5, 2017 0

Bengaluru– The Karnataka government on Monday said it is contemplating legal aid to information technology sector employees in the state after they called for action to stop “illegal” layoffs in this crucial service industry.

“Some members of the employees’ associations met me today (Monday). I assured them of all help. I advised them to bring all representatives of IT employees associations to the next meeting to discuss their problems,” Information and Technology Minister Piryank Kharge said.

The Forum for IT Employees members met the Minister at Vikasa Soudha here and appealed to him to intervene to stop, what they called, “illegal layoffs by IT companies”. The forum claimed 56,000 layoffs across the country.

“I told them I need to talk with all stakeholders before taking a decision. I will talk to the employers as well as staff representatives. I cannot take a decision without holding talks with all stakeholders,” the Minister said.

He said he advised the Forum for IT Employees to help the state government understand their problems.

“The state government has no legal power to intervene in this matter but that doesn’t stop the government from looking at options to mitigate IT employees’ problems,” Kharge said.

Rajesh Natarajan of the Forum for IT Employees Bengaluru Chapter said they had submitted a petition seeking reconsideration of the state government’s decision to exempt IT companies from the purview of labour laws and bring IT companies under the Industrial Disputes Act.

“We urged hiim to take steps to prevent arbitrary layoffs by IT companies. Around 56,000 IT sector employees have lost their jobs across the country,” Natarajan said.

He said the Minister has not fixed any time for the next meeting.

“We will prepare a list of our demands and submit to him in the next meeting,” he said. (IANS)

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