Ficci releases paper studying economics of soccer

Dec 7, 2016 0

New Delhi–Industry lobby Ficci on Wednesday released a knowledge paper titled “Economics of Football Around the World”, which explains the game’s economics and identifies the questions needed to be addressed to increase its profile and marketability.

The Federation of Indian Chambers of Commerce and Industry (Ficci) released the paper in collaboration with Market4Sports, a release said.

soccer-ballA panel discussion, titled “Mission 11 Million: Getting India to Play”, was also held following the launch of the study paper.

“Infrastructure is a factor when you go to high performance, not when you start playing,” U-17 football World Cup Tournament Director Javier Ceppi, to be hosted by India in 2017, said.

Doctor Heath Matthews said the scope of sports science is improving in India and the catch-up is “fantastic”, but the country still needs to conquer the barriers of society.

Ficci also organised India’s fourth International Convention on Football Business, named GOAL 2016, with the All India Football Federation (AIFF) support.

“The New Year will bring Indian football tailwinds that we may not have for a very long time,” U-17 World Cup Project Director Joy Bhattacharya said.

He said 2017 will be a pivotal year for Indian football, adding in order to take the sport forward, it is very important to identify the right ingredients of a favourable environment.

Ficci Sports Committee Chairman Nitin Kukreja said: “Football in India is at a crossroads today. The potential for growth is huge and always has been, and the time is right for football to become India’s number two if not the number one sport.”

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Artificial Intelligence a hot trend in 2017: Ericsson

Dec 6, 2016 0

New Delhi– Artificial Intelligence (AI) is an important development and consumers globally will see it playing a much more prominent role — both in society and at work — next year, a new report said on Tuesday.

Ericsson ConsumerLab, in its annual trend report titled “The 10 Hot Consumer Trends for 2017 and beyond”, said that 35 per cent of advanced internet users want an AI advisor at work and one in four would like AI as their manager.

At the same time, almost half of the respondents were concerned that AI robots will soon make a lot of people lose their jobs.

With an increase in IoT adoption, two in five believed smartphones will learn their habits and perform activities on their behalf automatically. Also, one in four pedestrians would feel safer crossing a street if all cars were autonomous and 65 per cent of them would prefer to have an autonomous car.

“As autonomous cars become reality, car sickness issues will increase. Three in ten foresee needing sickness pills. One in three also want motion sickness pills for use with virtual and augmented reality technology,” the report added.

While mentioning about the Virtual Reality (VR), the report pointed out that almost four out of five VR users believe it will be indistinguishable from reality in only three years.

“Beyond real time, I believe we should be talking about reality time. In fact, what we call reality becomes ever more personal and subjective,” said Michael Björn, Head of Research at Ericsson ConsumerLab.

“Consumers not only surround themselves with the like-minded on social networks but also are also starting to customise the way they experience the world with augmented and virtual reality technologies,” Björn added.

Over 50 per cent are already use emergency alarms, tracking or notifications on their smartphones. Of those who say their smartphone makes them feel safer, three in five say they take more risks because they rely on their phone.

One in three respondents said social networks are their main source of news and more than one in four value their contacts’ opinions more than politicians’ viewpoints.

“Over half of people would like to use augmented reality glasses to illuminate dark surroundings and highlight dangers. More than one in three would also like to edit out disturbing elements around them,” the report found.

When talking about security, two in five advanced internet users want to use only encrypted services. Almost half would like to have just reasonably good privacy across all services and more than one out of three believes privacy no longer exists.

“Consumers also want the future to remain fully mobile, implying that demand for battery-friendly, instant and fast connectivity is set to grow rapidly. In that sense, reality time means it is time for 5G networks,” Björn noted. (IANS)

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Third-party logistics firms ride on e-com boom in India

Nov 22, 2016 0

By Fakir Balaji

Bengaluru– With the tech-savvy Gen-Next and the upwardly mobile shopping online to buy even their daily needs in cities and towns across India, third-party logistics firms are riding high on the e-commerce boom.

Though leading e-tail behemoths like Flipkart, Amazon and Snapdeal have in-house logistics networks and warehouses for quick turn-around of merchandise and their speedy delivery, hundreds of buyers and sellers across verticals depend on third-party logistics companies like GoBolt, Rivigo, BlackBuck and TruckSuvidha for the supply chain in the B2B and B2C segments.

According to a recent study by the global consultancy services firm KPMG, the rapid growth of smartphones, internet penetration, increase in urban households, ease of payment, access and the variety that online shopping offers are fuelling the e-commerce sector across the country.

“The rapid e-commerce growth in retail and other segments has resulted in the emergence of third-party logistics operators, emphasis on service levels, increased penetration in Tier II and Tier III cities, surged cash-on-delivery services, geographic penetration and supply chain security requirements,” said the study.

At a cumulative average growth rate (CAGR) of 40 per cent, the overall e-commerce market in India is projected to touch $136 billion by 2020 from $18 billion in 2014, with online travel segment alone accounting for about 70 per cent followed by e-tailing, financial services, classified, job searches and matrimony.

As one of the fastest-growing markets, e-tailing is expected to grow at 52 per cent CAGR to reach $37 billion by 2020 from $3 billion in 2014.

Of all segments, e-tailing drives the investment and value of the logistics sector, which has spawned a new class of third-party operators. Logistic needs of the e-commerce players are evolving in line with the changing business requirements.

“As a key growth enabler of the e-tail segment, the operators are emerging as a differentiator in terms of customer service. E-commerce firms and logistics providers have to collaborate to drive the industry forward,” the study advocated.

Virtual access to goods and services from anywhere is making netizens and smartphone users even in Tier II and Tier III cities place orders for delivery by third-party logistics providers.

“The increasing numbers of cash-on-delivery orders make the operators devise different cash-handling methods. As more offline retailers move to online channels, the operators have to expand their capacity to handle the growing volumes,” an industry expert told IANS here.

Focus on surface movement will increase demand for a multi-mode mix and new categories will require accurate weight reconciliation systems, which also create new opportunities.

The US-based global information and data firm Nielson said the overall logistics sector in India would witness 48 per cent CAGR to reach $2.2 billion by 2020 from 0.2 billion in 2014

In the derivative sector, the third-party logistics provider and cold chain will be a party of the logistics and warehousing industry, with 10-12 per cent CAGR over the next four years.

“Popularity of cash-on-delivery has compelled the logistics industry to change from traditional mode to tech-based support for the e-commerce firms to ensure speedy delivery of goods, as evident from many of them diversifying their services to make space for e-commerce logistics,” Nielson said.

Although in-house logistics firms command 50 per cent of the e-commerce market, third-party logistics, including traditional providers, have partnered with e-tailers to meet their business requirements.

“With the focus shifting to specialised deliveries from standard, third-party logistics have to invest in capacity-building and related infrastructure,” Nielson pointed out.

Emerging opportunities in the tech-driven logistics industry inspired New Delhi-based Camions Logistics Solutions Ltd to incubate tech-logistics start-up GoBolt in 2015 to provide transport solutions in the B2B segment.

“With in-line haul and short-haul trucking, we provide express and non-express road transportation solutions, route/delivery planning, real-time tracking, reduced transit time and reliable documentation,” GoBolt co-founder Sumit Sharma told IANS.

Set up in September 2015, the year-old firm has recently raised an undisclosed amount of pre-series funding from start-up incubator MCube8 of the financial advisory firm MCube Captial.

“Using e-market place, big data, analytics, fleet management and multi-channel customer interaction systems, we optimise operations and route planning by adopting benchmark practices like double-driver model and hub-relay model,” said the other co-founder, Parag Aggarwal.

With a fleet of 600 trucks, the start-up caters to e-commerce, pharma, automobile, food processing firms and fast-moving consumer and white goods in 35 cities across the country.

Similarly, start-ups like Rivigo, BlackBuck and TruckSuvidha offer third-party, inter-city and inter-state surface transport logistics to retailers and e-tailers in diverse sectors across the country. (IANS)

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Only 15% of Indian family businesses have succession plan: Survey

Nov 21, 2016 0

New Delhi–While three-quarters of Indian family businesses have grown in the past one year, barely 15 per cent of them have a robust succession plan, according to a survey report released on Monday.

The study — 2016 India Family Business Survey Report — released by PricewaterhouseCoopers, showed that 84 per cent of Indian family businesses expect to grow either steadily or quickly and aggressively over the next five years.

“Of those looking at an annual growth of over 10 per cent over the next five years, about 96 per cent said that the growth of core business in existing markets would enable them to reach their targets,” the report said.

According to the survey, over half of the family businesses surveyed said they were looking to expand into new sectors or new countries and would consider inorganic growth.

“Indian family businesses are very optimistic about their future, which is clearly demonstrated by the heightened entrepreneurial activity being witnessed in the country.

“Strategic planning in both dimensions of a family business — the family and the business — will go a long way in enabling family business leaders to achieve their goals,” said Praveen Bhambani, Partner and Leader, Private and Entrepreneurial Business, PwC India.

The consulting firm spoke to 2,802 family business leaders across 50 countries and with 102 family business leaders in India.

The report said that the participants in the survey felt that the key challenges their business would face in the next five years were the need to innovate, keeping pace with the digital and technological development, attracting and retaining talent, competition, need to professionalise the business and regulatory compliances.

It pointed out that the priorities of family businesses for the next five years were “not quite in line” with the challenges anticipated.

Innovation, which is considered the biggest challenge, comes fourth in business priorities — maybe because the need to innovate is linked with revenue growth at the enterprise level.

Digital comes second, yet only 22 per cent of the family businesses feel their business is vulnerable to digitisation, the report added.

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How much should you spend on marketing: Your marketing guide for 2017

Nov 21, 2016 0

By Upendra Mishra

WALTHAM, MA—It is said that if you keep doing the same thing, you will keep getting the same results. If you want to increase your revenue, customer outreach and position yourself as a leader in your marketplace in 2017, you should do things differently. Here is a quick guide and basic fundamentals to plan your 2017 marketing.

Upendra Mishra

Upendra Mishra

Bring Marketing to the Forefront

Your products and services are important. But so is marketing because it will educate your potential customers about the value you bring to the table. If you do it right, your products and services will sell by itself.  That is the goal of marketing.

If marketing has been on the back burner in your company, bring it to the forefront now. Spend time on thinking, planning and strategizing on consolidating exiting clients, bringing old ones back and seeking new customers. Marketing will play a big role in revenue generation.

How Much Should I Spend on Marketing?

The short answer is: spend as much as you afford, but do spend and never spend less than what you did the previous year. The U.S. Small Business Administration recommends spending 7 to 8 percent of gross revenue if your revenue less than $5 million per year. Other sources suggest spending up to 13 percent.

Where Should I Start?

Well, a lot has changed in the marketing in recent years. It is no longer just doing PR, getting an article published in trade publications or direct marketing. Now there are so many marketing channels and you want to be everywhere, integrated with the same message. You need a 360-degree view of marketing, including digital, social media, PR, direct and content marketing, web analytics, print or online advertising. If you are unfamiliar with any of these areas, the best thing will be to bring an outside consultant who can audit everything you are doing and make some recommendations. Later, you can decide whether you have the required talent pool to execute those recommendations or if you will need to bring in an outside firm.

Here are some channels to think about

CONTENT MARKETING: Content marketing is the king of online marketing. According to the Content Marketing Institute, 88 percent of Business-to-Business and 76 percent of Business-to-Consumer organizations are using content marketing. What is content marketing? “Content marketing is a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly-defined audience — and, ultimately, to drive profitable customer action,” says Content Marketing Institute. “Instead of pitching your products or services, you are providing truly relevant and useful content to your prospects and customers to help them solve their issues.”

EMAIL MARKETING: Do not underestimate the power of email marketing. Despite powerful spam filters, unsubscribe options and people getting annoyed by too many emails, email marketing is effective. In fact, email marketing holds the second place after search marketing & SEO. According to an article in Forbes magazine, email marketing is responsible for 16 percent of customers acquired, compared with the less than 1 percent acquisition rate from Facebook.

SEARCH ENGINE MARKETING & SEO: Search engine optimization, popularly known as SEO, is one of the most effective marketing tools for increasing online visibility. Yet, 50 percent of businesses doing digital marketing had no form of digital marketing plan or strategy, according to a 2015 study by Smart Insights. In a recent survey by Fleishman-Hillard and Harris Interactive, 89 percent of consumers reported using search engines to inform their purchase decisions, according to Search Engine Land.

VIDEO MARKETING: As the watching habits of people (especially the younger generation) shift to computer screens and mobile devices from traditional television, you should not ignore video marketing. By video marketing, I mean both video advertisements and producing your own video content, which you can host on your website and social media channels, as well as email to your target audience.

Marketing pundits are predicting that video will account for 69 percent of consumer internet traffic soon; 7 in 10 people view brands more positively after watching their video content; and 64 percent of marketers expect video to dominate their strategies, according to Audience Bloom.

In conclusion, identify your marketing deficiencies and market your competitive advantage. “Marketing is too important to be left to the marketing department.” –David Packard

(Mr. Mishra is founder and president of the Waltham, MA-based The Mishra Group, an integrated full-service marketing and public relations firm. Since 1997, the Mishra Group has provided comprehensive, results-oriented solutions for the fast-paced new age of online and traditional marketing through the area’s best writers and editors and most talented graphic and Web designers and digital media strategists. For more information, visit: www.MishraGroup.com.)

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Automobile industry aims to create 6.5 crore jobs by 2026

Nov 16, 2016 0

New Delhi– The Indian automobile sector aims to contribute over 12 per cent to the gross domestic product of the country, and create nearly 6.5 crore additional jobs by 2026 over the next decade, said Kenichi Ayukawa, Managing Director and Chief Executive Officer of Maruti Suzuki India, on Wednesday.

“Our vision is that over the next decade, the Indian Automobile sector must contribute in excess of 12 per cent of the country’s GDP. We want to create nearly 65 million additional jobs by 2026,” Ayukawa said.

According to Ayukawa, at present the automobile industry contributes around 7.1 per cent to the GDP of India and employees nearly 32 million people directly or indirectly.

In the last ten years, the automobile industry has invested around $35 billion.

“Our responsibility towards the communities where we are operating also increases. It’s our duty to develop a sustainable, mutually beneficial and inclusive socio-economic ecosystem,” he said at the Society of Indian Automobile Manufacturer’s (SIAM) first ever CSR (corporate social responsibility) conclave.

“Over the past 10 years, the Indian automobile industry has made significant contribution to the socio-economic development of village communities. Fortunately, our efforts are well aligned with the Government’s flagship missions of Clean India and Skill India.”

Ayukawa said by 2026, the automobile industry not only seeks to increase mobility, but will also focus on promoting safe, comfortable and environment friendly mobility.

“Our responsibility also entails minimising the negative impacts of use automobiles. We have to address issues like congestion, air pollution, global warming and road accidents,” said Ayukawa.

“Our aim is to be among the top three global automobile markets. This will only happen if we create safe, efficient and environment friendly vehicles.” (IANS)

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Santhana Krishnan Joins Internet of Things Smart City Company as President

Nov 16, 2016 0

Boston– CIMCON Lighting, Inc., a provider of software powered LED controllers and Internet of Things (IoT) enabled Smart City lighting management solution, announced the appointment of Santhana Krishnan as President effective immediately.

Krishnan will be responsible for the company’s sales and marketing, including managed IoT services, Lighting-as-a-Service and expanding its Smart City solution portfolio.

Santhana Krishnan

Santhana Krishnan

“Today, cities spend unto 40% of energy costs on street lighting.  With CIMCON’s IoT enabled Smart City lighting management application cities can reduce up to 30% of energy costs and up to 70% of maintenance costs,” said Krishnan, who brings with him over 20 years’ experience in IT infrastructure management software, managed services and Software-as-a-Service, most recently at CA Technologies where he managed strategy, business development and M&A for a $300 million business unit.

With urbanization in developing economies 60 percent of the worlds population – about 4.7 billion people – will live in cities by 2025, according to market reports. Through “smart city” initiatives, cities are adopting IoT applications to improve services, conserve energy and water, relieve traffic congestion and improve quality of life. McKinsey Global Institute estimates impact of the IoT in cities could be $930 billion to $1.7 trillion globally in 2025. The estimates are based on value of improved health and safety, the value of time saved through IoT applications, and more efficient use of resources.

Previously, Krishnan was Founder and CEO of InteQ, a pioneer in managed services which remotely managed mission-critical IT infrastructure for xSPs and enterprise organizations located in over 90 countries.  Prior to InteQ, he worked at HP and IBM.

“Rapid urbanization is forcing cities to consider IoT and Smart City technologies, and CIMCON is well positioned to be the foundation for connected cities,” said Anil Agrawal, Founder and CEO of CIMCON Lighting. “We are delighted to have Santhana join the CIMCON team. His experience coupled with industry insight and vision will be a tremendous asset in accelerating the company’s growth by further developing and commercializing compelling smart city applications.”

“I am very happy to be joining CIMCON at such an exciting time for the company as it continues to expand its global presence,” said Krishnan.  “There is a tremendous opportunity to deliver IoT enabled applications that empower cities and utility providers to capitalize on the Smart City movement.”

There are over 315 million street lights worldwide and 42% of the street lights will be networked to make them “smart” over the course of the next decade. Global Internet of Things (IoT) investment in street light market will cumulatively reach $69.5 billion over the next decade, according to a new study published by Northeast Group, LLC.

CIMCON Lighting provides Internet of Things (IoT) enabled solutions that help cities run smarter while reducing costs. The company uses LED lighting to create a wireless sensor network and platform allowing cities to implement a variety of Smart City applications to manage outdoor lighting, meter electric vehicle chargers, monitor air quality, improve public safety and security, optimize parking, traffic and waste management to improve the quality of life for city residents. CIMCON’s software powered street light controllers and lighting management solution have been implemented in over 50 cities in 16 countries.

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Arby’s Restaurant Group Inks Deal with Parikh Network, LLC to Open 50 New Restaurants

Nov 7, 2016 0

ATLANTA— Arby’s Restaurant Group, Inc. (ARG), parent company of the franchisor of the Arby’s brand, has announced a new development agreement with Parikh Network, LLC, a new franchisee to the Arby’s brand, to open 50 new restaurants over the next eight years.

“There has never been a better time to join the Arby’s brand,” said Ashish Parikh, CEO, Parikh Network, LL

As part of the transaction, Parikh Network also purchased 18 ARG-owned Arby’s restaurants in the Baltimore, MD and Harrisburg, PA markets from which to grow their Arby’s business.

Parikh Network is led by brothers, Ashish Parikh, CEO, and Amish Parikh, President, who began in the franchise business in 2006 and grew their portfolio to include more than 100 restaurants operating under another quick

http://www.haigwoodstudios.com

http://www.haigwoodstudios.com

service restaurant brand name. Franchise Times named Parikh Network, LLC on their 2016 “Restaurant 200” list (76th largest franchise company).

“We are thrilled to welcome Parikh Network into the Arby’s family,” said Paul Brown, Chief Executive Officer, Arby’s Restaurant Group, Inc. “Their track record of operational excellence, including a focus on guest service, and their proven ability to grow their business through new restaurant development year after year has been incredibly impressive.”

“There has never been a better time to join the Arby’s brand,” said Ashish Parikh, CEO, Parikh Network, LLC. “With the significant business momentum and continued industry outperformance, the future is very bright for Arby’s. Our family business is eager to grow by building new restaurants in the Arby’s system.”

Arby’s remains on track with its goal to surpass $4 billion in total system-wide same-store sales (SSS) by the end of 2018. The Brand has achieved 24 consecutive quarters of SSS growth and 15 consecutive quarters of industry outperformance.

 

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First time In 5 years, public sector units profits fell in 2015

Oct 20, 2016 0

By Prabhpreet Singh Sood

For the first time in five years, the profits of Indias state-owned companies shrank, by about 20 per cent in 2015, with 77 public-sector units (PSUs) reporting losses and contribution to the exchequer dropping Rs 20,000 crore ($3 billion) over the previous year, according to the latest government data available.

The drop in profits — from Rs 1.28 lakh crore ($22 billion) to Rs 1.03 lakh crore ($17 billion) — over 2013-14 comes in the backdrop of Prime Minister Narendra Modi’s 2016 Independence-day declaration that a “new culture” had helped flag carrie Air India and telephony provider Bharat Sachar Nigam Limited (BSNL) improve their performance.

As many as 235 PSUs — companies in which the central government or other government companies held at least 51 per cent of shares — surveyed by the Ministry of Heavy Industries and public enterprises saw profits drop in a year that India’s economy grew 7.3 per cent over 4.7 per cent in 2013-14.

“In the past, government companies accounted for a large share of the country’s gross domestic product (GDP), today they don’t,” said P. Rameshan, former director of the Indian Institute of Management-Rohtak.

India had 298 PSUs in 2015-16 — of which 63 have not yet started operations — in sectors that include mining (Coal India Ltd, Oil and Natural Gas Corporation), manufacturing (Indian Oil Corporation, Bharat Petroleum), services (BSNL, Air India), electricity (National Thermal Power Corporation) and agriculture (National Seeds Corporation).

Except electricity, PSUs in other sectors reported a fall in profits or a rise in losses during 2014-15 compared with the previous year.

PSU contribution to the exchequer dropped Rs 20,000 crore in 2014-15

The government’s companies contributed Rs 20,000 crore less to the public exchequer in 2014-15 than they did the previous year, when they generated Rs 2.2 lakh crore.

Even the top profit-making PSUs — companies such as ONGC, Coal India Ltd, Indian Oil and NTPC — saw a 13 per cent dip in profits.

A leading reason for this was the global slowdown and weakening of international oil prices, leading to a 29 per cent fall in export earnings and affecting manufacturing companies.

“The steel industry, one of the biggest in terms of turnover, suffered because of the fall in oil prices,” said Anand Kumar, former director of Indian Oil Corporation, India’s largest company by revenue in 2014. Nearly 10 per cent of steel industry’s demand comes from the petroleum industry, which is facing a slump due to fall in crude oil prices.

As the world gradually recovered in 2014-15, demand for major commodities from India, such as coal and metal, also fell.

Ten at the bottom account for 85 per cent of losses

In 2014-15, 10 loss-making PSUs accounted for 85 per cent of all PSU losses: Rs 27,000 crore, or Rs 4,000 crore more than the previous year. BSNL, Air India and Mahanagar Telephone Nigam Ltd were the biggest losers.

These companies could not cope with competition, said Rameshan. “BSNL is but a mere fringe player in the telecom industry today,” he said. “Air India, which lost its status as the market leader long ago, is no different.”

Modi said that Air India had made an operating profit of Rs 100 crore in the financial year 2015-16, but as FactChecker.in reported in August 2016, that is 0.0023 times the airline’s accumulated losses, now more than Rs 44,000 crore ($7.3 billion) — equal to India’s annual health budget — and borrowing has grown to more than Rs 38,000 crore ($6.3 billion), IndiaSpend reported in September 2015.

PSUs had also fallen behind on technology, said Hareendran Bhaskaran, dean of Bhavan’s Royal Institute of Management, Kochi.

The PSU workforce dropped by 50,000, but employees were paid more

The PSU workforce was trimmed by nearly 50,000 over the last one year, but the per capita expense on employees rose 10 per cent over the same period.

After economic reforms in 1991, private-sector competition, it was hoped, would goad PSUs to reform and improve. But most old problems continue.

“There is a lot of backseat driving by the government,” said Alok Perti, former secretary, Ministry of Coal. “Public sector companies that have government directors are likely to see them dictating what course of action should be taken. In many cases, the ministry dictates.”

In 2011, the S.K. Roongta Committee, to suggest PSU reforms, said: “Over-governance promotes conservative, cautious and risk-averse organisational culture, with procedures being paramount and outcomes secondary.”

The committee recommended a fixed tenure of three years for PSU heads and suggested that 50 more companies be listed on the stock exchanges over the next five years. Not a single company was listed since the recommendation was made.

“That (Roongta report) must be now gathering dust in the corridors of bureaucracy,” said Kumar. “Nobody wants to antagonise the master, the politician.”

The divestment plan is revived, but 2015-16 target falls short by 66 per cent

Earlier this year, Finance Minister Arun Jaitley said the government should “leverage the assets” — meaning, sell stakes, land and manufacturing units — of PSUs to raise money for infrastructure.

However, a little more than a third of the Rs 69,500-crore target for 2015-16 — to be achieved by selling stakes or closing loss-making PSUs — was achieved.

Perti said the government’s plan to sell stakes would make little difference to the companies. “These will remain government companies, and these companies have the drawback of being run as government departments, rather than companies,” he said. (IANS)

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Despite smartphones, Indian DSLR market at cusp of giant leap

Oct 17, 2016 0

By Anuj Sharma

New Delhi– Despite smartphone makers launching devices with high-end camera specifications to woo amateur shooters, the photography market in India is at the cusp of a significant leap and digital single-lens reflex (DSLR) cameras are, in fact, looking at stupendous growth in the months to come, a top Canon India executive has said.

With over 1,100 registered patented technologies in digital cameras, 2,300 in inkjet printers, 5,600 in multi-functional printers (MFPs) and more than 200 in scanners, Canon has emerged as one of the leading global technology innovators in the digital imaging space.

Kazutada Kobayashi

Kazutada Kobayashi

“India is one of the fastest-growing economies of the world. I am more than happy that we are running the business successfully with DSLR cameras in the country despite the onslaught of camera-specific smartphones. We are witnessing a healthy growth rate of around 8-9 per cent in the camera market,” Kazutada Kobayashi, President and CEO, Canon India, told IANS.

During the first half of 2016, the camera division contributed about 44 per cent to total revenue for Canon India. “Geographically speaking, the southern region has been the major contributor for revenue escalation, with a 32 per cent contribution,” Kobayashi added.

“We closed the first half with nine per cent growth as compared to the similar period last year. This year, we have focused on restructuring and expansion of our key domains. We plan to achieve a double-digit growth (about 10 per cent) by the end of the year,” the executive added.

Canon’s research and development centre “ISDC” is located in Bengaluru and works on product development and research in the area of system LSI design and verification, embedded operating system (OS) and middleware technologies for cameras, multifunction printers, network surveillance cameras and healthcare modalities.

The centre produces software not only for DSLR cameras but also for security cameras and printers.

According to Kobayashi, the Indian market is different as the need is dynamic. “You can’t take a break in India as the market keeps moving. This year, we aim to finish at around Rs 2,350 crore compared to Rs 2,158 crore last year in overall revenue for Canon India,” the Canon executive told IANS.

“For 2017-2019, we aim to grow by another 10 per cent year-on-year and reach another 33 per cent by the end of 2019 compared to this year,” Kobayashi noted.

India is growing much faster than Hong Kong or Germany or the Netherlands, Kobayashi said, adding that these are exciting times not only for Canon but also for the industry as well.

“Seeing the growth potential, we have also invested in new domains which include security cameras, medical cameras, projectors and scanners,” the executive pointed out.

With customer experience as priority, Canon has opened a record 200 Image Square stores in India till date. “We are aiming to expand our customer outreach by adding 40 more stores and close the year with a count of 240,” Kobayashi said.

Canon recently launched “EOS 5D Mark IV”, a full-frame, all-rounder camera targeted at professional photographers, primarily in the fields of wedding, commercial/advertising and wildlife photography.

The device gives high-quality images, high-speed performance along with excellent resolution under all lighting conditions.

“This festive season we are announcing the special offer of a Moto pulse headset with Canon EOS 1300D or EOS 700D cameras,” Kobayashi said. (IANS)

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