EU: Willing to accommodate more Indian IT professionals

Feb 22, 2017 0

New Delhi–The European Union on Wednesday indicated that it would be willing to accommodate more Indian IT professionals amid concerns over the Trump administration tightening H1B visa norms.

To a question on whether the EU would be “prepared to welcome” Indian IT professionals in the wake of US President Donald Trump pushing for tightening H1B visa rules, an EU official said that Europe is “open” to allowing more Indian professionals who are in high demand.

David McAllister, head of a delegation of European Parliament’s Committee on Foreign Affairs, said they have read about the tweets of President Trump and also his speeches and interviews on the subject. “We believe in a globalised world. Protectionism of any kind is not beneficial in the long run,” McAllister said.

“Europe is open for people with high demand. Indian people are highly skilled. Our IT sector would not have been successful if we did not have skilled professionals from India,” he added.

David McAllister (Photo: Wikipedia)

He also hoped the stalled dialogue on the EU-India trade and investment pact – Broad-based Trade and Investment Agreement (BTIA) – would resume and both sides were hopeful of a summit.

The BTIA talks, launched in 2007, have failed to move forward since May 2013 though 16 rounds of talks have been held so far.

During the EU-India Summit in Brussels, both sides failed to make any announcement on resumption of the negotiations as bottlenecks remain.

Talking about the significance of the Common Agenda on Migration and Mobility (CAMM) between the EU and India, Tomasz Kozlowski, Ambassador of the European Union to India pointed out that, “The EU has long recognized the potential of promoting people-to-people connectivity. AsiaConnect is an excellent example of regional integration, with the R&E communities of 21 Asia-Pacific countries inter-connected by powerful high-capacity, high quality Internet links. This project will be a vehicle for promoting a peaceful, secure, open and cooperative ICT environment between Asia and Europe, and in turn benefit society as a whole.”

“There are unlimited fields of world-class research which can profit from the powerful links we have created together. Sharing data and working together on astronomy, meteorology, climate change monitoring, or early warning in case of natural disasters are just a few examples,” he added.(IANS)

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Microsoft CEO Satya Nadella unveils “Project Sangam” and “Made for India”

Feb 22, 2017 0

By Sourabh Kulesh

Mumbai–In a big push for Prime Minister Narendra Modi’s Skill India initiative, Microsoft’s Indian-born CEO Satya Nadella on Wednesday launched “Project Sangam” to help the government not only train but also help people get jobs via professional networking website LinkedIn that was acquired by the company last year.

Aimed at employing and empowering low-skilled workers, “Project Sangam” will commence from Andhra Pradesh.

Satya Nadella

“The company will allow people to enroll through Aadhaar cards and later utilise LinkedIn to manage their profiles,” said Nadella in the presence of Andhra Pradesh Chief Minister N. Chandrababu Naidu and Maharashtra Chief Minister Devendra Fadnavis at the jam-packed “Future Decoded” event here.

“Project Sangam” will be an open ecosystem where trainers can pour their content into the project and people can take the training right from “Sangam” and apply for jobs.

As soon as the training is completed, Microsoft will update their profiles for employers to shortlist and hire the skilled workers. The candidates will also receive job options according to their skills.

“It is the first project on Cloud that will bring Microsoft and LinkedIn together to help unemployed masses in India,” Nadella added.

Praising the Microsoft initiative, Naidu said with infusing right ideas and technology, Andhra Pradesh can be the next Silicon Valley.

“We took the decision to become a Cloud-first state as it would help us tackle resources better. With the technology revolution, I aim to put my state among the top three states by 2022,” Naidu told the gathering.

According to Fadnavis, Cloud computing is a game changer.

Microsoft\’s India-born CEO Satya Nadella on Wednesday announced Skype Lite app, Project Sangam and Kaizala app in India to empower the masses. He was addressing a gathering at the two-day Microsoft event \”Future Decoded\” in Mumbai. (Photo: IANS)

“Big Data analytics can be used to put our resources to best use. I am thankful to Microsoft for putting in one the biggest data centres in Maharashtra. We have started migrating to the Cloud and I think Cloud computing and Big Data analytics will help us gain transparency in governance,” Fadnavis noted.

Throwing a direct competition to social media apps like Google’s messaging app Allo and video calling app Duo, WhatsApp and Facebook Messenger, Nadella also announced “Skype Lite”, an exclusive “Made for India” app to provide seamless experience in messaging, audio and video calling even at lower bandwidths.

“Packed in a 13MB file (from its original 36 MB size), the new app is available only for Android devices and is especially designed to save data,” Nadella told the gathering.

“Skype Lite” will also bring Aadhaar integration to the app by June 2017. With this integration, users will be able to authenticate the identity of unknown callers in situations whre identification verification is required.

The lightweight “Skype Lite” app supports several Indian languages including Gujarati, Bengali, Hindi, Marathi, Tamil, Telugu and Urdu.

The app has data-friendly features such as “tracking data usage” which tells a user about how much data was used. It also categorises the internet usage into two sections — the amount of mobile data or Wifi used while using the app.

With these new features, the app lets a user to share multimedia files without downloading them to the device.

“Skype Lite” has functionalities such as integrated calling and SMS by which a user can make it the default calling and messaging app.

Microsoft also launched three other products — LinkedIn Lite, Starter Pack and Placements.

LinkedIn Lite is a tool that will help people connect from low-connectivity zones in the country. LinkedIn Placements is an app for college graduates.

Billed as one of the largest such pacts in the global social media space, Microsoft acquired LinkedIn for $26.2 billion in an all-cash deal last year.

Nadella also talked about the digital transformation that Microsoft Azure Cloud has brought in for retail, auto, banking and startups.

He said that companies such as Tata Motors and State Bank of India realised the power of the Cloud and moved to the Cloud-first infrastructure in recent times.

State Bank of India, Flipkart, Tata Motors, and government departments across the states of Andhra Pradesh, Punjab, Maharashtra, Karnataka and Tamil Nadu are using Microsoft’s cloud and mobile technologies to empower employees, engage customers, optimize processes and transform products and services.

The company also announced Kaizala app for collaboration between desktop and mobile computing users. Available on all leading mobile platforms, Kaizala offers seamless convergence of an instant messenger and a productivity enhancer for those always on the move.

Kaizala has been successfully tested by Andhra Pradesh government at a 12-day mega event involving 20 million people. The state government now plans to replicate it across departments to implement real-time governance.

“Future Decoded” — Microsoft’s two-day flagship technology and business conference that kicked off here on Tuesday — is a platform that brings together 1,500 business and government decision-makers to engage in conversations on how technology will transform all aspects of our work and life. (IANS)

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Media attacks orchestrated to harm Infosys reputation: Sikka

Feb 21, 2017 0

Bengaluru– Terming media stories on Panaya acquisition false and malicious, Infosys Chief Executive Vishal Sikka told its employees that the attacks were orchestrated by people hell-bent on harming their reputation.

“Once again, some newspapers have carried false and malicious stories about our company — this time it is about the acquisition of Panaya. These speculations and fabrications are designed to tarnish our reputation,” said Sikka in an email to his employees (techies) coding software at the company’s development centres worldwide.

Accusing the media of targeting the company, its employees and himself to the point of harassment, Sikka said the reports created a false alternate reality out of events and dates, with embellishments calculated to misled and sensationalise.

Vishal Sikka

“We have denied the allegations in these stories, but they still get published. As we’ve said before, we take every whistle-blower’s complaint very seriously and there is a due process to investigate any complaint that comes to us,” reiterated Sikka.

The IT major’s first non-founder CEO’s mail came a day after an anonymous whistle-blower alleged that its executives had personal interests in buying the US-based Panaya firm for $200-million in February 2015.

The whistle-blower is reported to have mailed the letter to the Indian market regulator Securities Exchange of India (Sebi) in Mumbai.

The city-based outsourcing firm acquired the automation technology firm to offer large-scale enterprise software management as a service to its global clients.

Asserting that he would not allow the charges go unchallenged, Sikka said he would pursue every avenue to defend the company in the face of what he called unfair and unwarranted attacks.

“Though these distractions are expensive, draining and time-consuming, it is our burden to ensure that the company’s business continues unflinchingly. As I have written previously, we have far bigger battles ahead of us,” Sikka said.

Advising his employees to prepare for the new year (fiscal 2017-18), the CEO said the year ahead promised to be full of relentless disruption and wondrous opportunities and a year that would separate the ‘has beens’ from the ‘to-bes’ in the industry.

“I am, as always, counting on your faith and unwavering attention to what really matters. Change is never easy, and change at the scale we are undertaking may be unprecedented. It is this change that has so inflamed some into trying to drag us all into the mud. And yet, change we must. There is no other way,” Sikka added.

Observing that in the time of AI (Artificial Intelligence) and digitising world, success would depend on their ability to automate, innovate and educate, Sikka said that failure, if any, would be of a company, an industry and a dream that cannot be let to happen.

“Last week, when I shared the results of our journey with many investors and financial analysts in Mumbai and elsewhere, it was clear that majority of them and our clients, are with us 100 per cent. They understand the path we are on and its significance and are supportive,” he said.

Stating that he was counting on all the employees to rise above the distractions, Sikka told them to focus on what matters and deliver.

“As I was flying home, I visited a very old Buddhist temple en route. It was a fleeting peaceful moment in an unnecessarily difficult week. But the row of Buddhas there, in a moment of clarity, indicated to me that with compassion and unflinching resolve, we will get there. We must, and we will,” added Sikka. (IANS)

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Indian IT Minister Prasad Meets Microsoft CEO Satya Nadella

Feb 21, 2017 0

New Delhi–Union IT and Electronics Minister Ravi Shankar Prasad on Tuesday met Indian-born CEO of Microsoft Satya Nadella and urged him to consider the use of Microsoft’s innovative technology in the upcoming DigiGaon (Digital Village) initiative.

“Had a good &productive meeting with @satyanadella. He deeply appreciated the success of ongoing #DigitalIndia program, which is transformative,” the minister tweeted after talks with Nadella here.

“Requested @satyanadella to consider the use of their innovative technology in the proposed Digigaon (Digital Village) initiative,” Prasad added.

Satya Nadella

In the Union Budget for the 2017-18 Fiscal, Finance Minister Arun Jaitley announced that a DigiGaon initiative will be launched for the provision of telemedicine, education and skills with the help of digital technology.

“It was fantastic to spend time with Minister Prasad, talking about the great progress India is making with IndiaStack and Digital India,” Nadella said.

IndiaStack is a set of application programming interface (APIs) that allows governments, businesses, startups and developers to utilise an unique digital infrastructure to solve India’s problems towards “presence-less, paperless, and cashless service delivery”.

“For us at Microsoft, our mission is to empower every Indian and every Indian organisation to be able to achieve more and with the policies of the Government of India. We are excited to contribute to help take advantage of Digital India,” Nadella said in a video posted by Prasad on his Twitter account.

On Wednesday, Nadella will address “Future Decoded” — Microsoft’s two-day flagship technology and business conference that started off in Mumbai on Tuesday.

The conference is a platform that brings together 1,500 business and government decision-makers to engage in conversations on how technology will transform all aspects of our work and life.

Earlier on Monday, leading e-commerce major Flipkart tied up with the global software major Microsoft to use its Azure Cloud platform for boosting its e-tail sales.

The strategic partnership was announced by Satya Nadella on his maiden visit to Bengaluru after he took over the reins of the world’s largest software product firm in February 2014.

“At Microsoft, we aim to empower every Indian and every Indian organisation with technology through strategic partnerships with innovative firms like Flipkart,” said Nadella on the occasion.

As a public cloud computing platform, Azure provides a range of services, including analytics, storage and networking on network of computers (cloud).

“By combining our public cloud platform and AI (Artificial Intelligence) capabilities with Flipkart’s services and data assets, we will enable the e-tailor to accelerate its digital transformation and deliver new customer experiences,” said Nadella. (IANS)

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Chandrasekaran chairs first meeting as Tata Sons head

Feb 21, 2017 0

Mumbai — Natarajan Chandrasekaran on Tuesday took over as head of Tata Sons Ltd from Chairman Emeritus Ratan N. Tata and chaired its first Board meeting.

“Chandrasekaran chaired his first Board meeting as Chairman of Tata Sons Ltd,” said the principal investment holding firm in a statement here.

Tata, 79, returned to head the holding firm as an interim Chairman after its previous Chairman Cyrus Mistry, 48, was sacked on October 24, leading to a bitter boardroom battle in the country’s largest corporate house, with over 100 operating firms.

Natarajan Chandrasekaran

“I welcome Chandra, who has successfully displayed his leadership in his career at Tata Consultancy Services (TCS). I am sure he will bring considerable value to his leadership role in the Tata Group in the years ahead,” said Tata on the occasion.

Chandrasekaran, 54, was the Chief Executive Officer (CEO) and Managing Director of the Indian IT bellwether (TCS) since 2009 prior to his appointment on January 12 to head the holding firm of the $104-billion Tata Group.

“In my new role, I will focus on three strategic priorities: bring the group closer to leverage its collective strength; reinforce a leader’s mindset among the operating firms and drive their operating performances across the group; bring greater rigour to our capital allocation policies and deliver superior returns to our shareholders,” asserted Chandrasekaran.

Chandrasekaran’s first Board meeting follows his appointment as Chairman of group operating companies, including Tata Power, Tata Motors, Tata Steel and TCS.

“I look forward to working with colleagues, management teams and Boards of the companies towards achieving these goals,” said Chandrasekaran in the statement.

Noting that it was an honour to lead the Tata Group on the eve of its 150th anniversary, the new Chairman said the Group occupied a unique place in the hearts and minds of millions of Indians and has an important presence the world over.

“I wish Chandra every success for the future,” added Tata.

Founded by Jamsetji Tata in 1868, the Tata Group is a global enterprise, which operates in about 100 countries the world over to improve the quality of life of the communities it serves through stakeholder value creation based on leadership with trust.

As the principal investment holding firm and promoter of Tata companies, 66 per cent of its equity share capital is held by philanthropic trusts, which support education, health, livelihood generation and art and culture.

The Group employs about 660,000 people. Each of its company, or enterprise operates independently under the guidance and supervision of its own Board of directors and shareholders.

The Group’s 29 publicly-listed enterprises with a combined market capitalisation of $116.41 billion include Tata Steel, Tata Motors, TCS, Tata Power, Tata Chemicals, Tata Global Beverages, Tata Teleservices, Titan, Tata Communications and Indian Hotels.

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India launches Cyber Swachhta Kendra to protect citizens

Feb 21, 2017 0

New Delhi– At a time when cyber attacks are increasing, the government through its Computer Emergency Response Team (CERT-in) on Tuesday launched “Cyber Swachhta Kendra” — a new desktop and mobile security solution for a secure cyber space in the country.

The new solution will notify, enable cleaning and secure systems of end-users to prevent further infections.

“India today joined the distinguished club of countries that have malware-cleaning systems for the use of its citizens. As of now, we have 13 banks and internet service providers using this facility. With the expanding digital footprint in the country, I see a surge in start-ups in the area of cyber security by the end of the year,” said Union IT and Electronics Minister Ravi Shankar Prasad at the event here.

“This centre will work in coordination with the internet service providers (ISPs) and Industry. This Kendra will also enhance awareness among citizens regarding botnet and malware infection along with measures to be taken to secure their devices”, Prasad added.

Ravi Shankar Prasad

The minister also announced that the National Cyber Coordination Centre will be operational by June 2017.

The government also announced it would set up CERT-Ins at the state level as well.

“The government will set up 10 more STQC (Standardisation Testing and Quality Certification) testing Facilities. Testing fee for any start-up that comes up with a digital technology in the quest of cyber security will be reduced by 50 per cent. We will also empower designated forensic labs to work as the certified authority to establish cyber crime,” Prasad noted.

Part of the solution, USB Pratirodh is a desktop security solution that controls the usage of removable storage media like pen drives, external hard drives and other USB-supported mass storage devices.

M-Kavach tool offers a comprehensive mobile device security solution for Android devices addressing threats related to mobile phones.

AppSamvid is a desktop solution which protects systems by allowing installation of genuine applications through white listing. This helps in preventing threats from malicious applications.

The move comes at a time when over 50,300 cybersecurity incidents like phishing, website intrusions and defacements, virus and denial of service attacks have been observed in the country during 2016.

“As per the information reported to and tracked by Indian Computer Emergency Response Team (CERT-In), a total number of 44,679, 49,455 and 50,362 cyber security incidents were observed during the years 2014, 2015 and 2016, respectively,” Minister of State for Electronics and IT PP Chaudhary said in a written reply to the Lok Sabha earlier this month.

The Cyber Swachhta Kendra is part of the government of India’s Digital India initiative under the Ministry of Electronics and Information Technology (MeitY).

“With the increased penetration of ICT infrastructure in our country, the threat of cyber security has become more serious and visible. There is a need to collaborate and come forth with solutions like the Cyber Swachhta Kendra in order to ensure a safe and secure cyber world for the citizens,” said Aruna Sundararajan, Secretary, MeitY.

According to Saket Modi, CEO and Co-founder of Delhi-based IT risk assessment and digital security services provider Lucideus, the launch of the Botnet cleaning centre in India is a much-needed move.

“The potential scale at which this centre can operate will clearly make this the largest in the world considering the size of the Indian internet ecosystem which has over half a billion people online and over 250 million smartphones and one billion mobile phones across the country,” Modi told IANS.

Botnets fundamentally is a programme which is automated and runs on a computing device which can be any IoT/smart device.

The popular attacks that happen these days using botnets are called the Distributed Detail of Service (DDOS) attacks.

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Ambassador brand left due to lack of innovation

Feb 18, 2017 0

Kolkata–Describing the importance of innovation across agriculture and industries, Union Minister of State for Micro, Small, Medium Enterprises (MSME) Giriraj Singh on Saturday said the iconic Ambassador brand of Hindustan Motors has left the country due to lack of innovation.

C.K. Birla-controlled Hindustan Motors, recently executed an agreement with Peugeot SA on Friday to sell the Ambassador brand including trademarks to the French auto maker for a consideration of Rs 80 crore.

“Hindustan Motors’ iconic Brand Ambassador went to other people because there was lack of innovation,” he said at an awards ceremony for MSMEs organised by Bengal Chamber of Commerce and Industry.

The Ambassador brand was born in 1957 when the auto maker launched the Morris Oxford series II (Landmaster) in a new one and it was being produced at Uttarpara unit.

Singh described innovation in agriculture and MSME sector as a must for economic progress and urged all to come forward to draw up a policy framework on the same.

He said in order to make MSME companies more viable and also to encourage firms to migrate to company format, the central government proposed to reduce the income tax for smaller companies with annual turnover upto Rs 50 crore to 25 per cent.

As per data of assessment year 2015-16, there are 6.94 lakh companies filing returns of which 6.67 lakh companies fall in this category and therefore, 96 per cent of companies will get this benefit of lower taxation, the latest budget presentation said.

This will make our MSME sector more competitive as compared to large companies, Singh said. (IANS)

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Goods and Services Tax Council has cleared draft compensation law: Jaitley

Feb 18, 2017 0

Udaipur–Finance Minister Arun Jaitley on Saturday said the Goods and Services Tax (GST) Council has cleared the draft compensation law — one of the four enabling laws under the GST constitutional amendment – and hoped the remaining ones will be cleared in the next meeting ahead of the second half of Parliament’s Budget Session.

“The GST’s compensation law states that if any state suffers loss it will be covered in first five years. Its legally vetted draft came before the Council and was the first law formally passed,” Jaitley said here at a press conference.

Indian Finance Minister Arun Jaitley

Jaitley said he hoped the drafts of the remaining iGST (integrated GST), sGST (state GST) and cGST (central GST) laws will be passed in the Council’s next meeting slated for March 4-5 in the national capital.

“Once all drafts are approved, we will place them in Parliament. In Budget Session’s second half (that begins on March 9), all enabling laws under GST constitutional amendment should get approved,” he added.

While legal vetting of the draft laws, some issues on the delegation of powers, exemptions during transition phase, work contracts, definition of agriculture, etc. were brought before Council.

“Today GST’s legal committee sought explanation on these and the Council gave its opinion. These now have to be incorporated in the draft laws. March 4-5 the legally vetted drafts of these laws will come before the Council, which it will try to approve,” Jaitley said.

The draft laws once passed by Council, will have to be passed by Parliament.

Simultaneously, GST will have to be passed by state legislative bodies.

Jaitley said after that the next step will be to slot commodities under the GST tax slabs.

“Each item has to be fitted under a particular slab. After the March 4-5 meeting, officers will start slotting the commodities and we will require another major meeting to give approval to the specific items in each of the slabs,” the Finance Minister said.

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Babson hosts second annual India Symposium, brings top entrepreneurs from India

Feb 17, 2017 0

WELLESLEY, MA– Babson College will host its second annual Babson India Symposium on March 3 in the Carling-Sorenson Theater at Babson College in Wellesley, MA. Some of the speakers include V.S.S. Mani, founder and CEO of Justdial Ltd.; Raghunanadan G., founder and CEO of TaxiForSure and Amruda Nair, joint managing director and CEO of AIANA Hotels and Resorts LLC, among other entrepreneurs from India.

V.S.S. Mani

The Babson India Symposium is a platform for business leaders, future entrepreneurs and academics to exchange their experiences and thoughts on the promotion of entrepreneurial ecosystem in India.

The day-long event will feature keynote addresses, panel discussions and fireside chats involving topics ranging from challenges of scaling up businesses in India and redefining family businesses to nurturing entrepreneurial ecosystem in India.

INDIA New England News , IndUS Business Journal and INE MultiMedia are the official media partners of Babson India Symposium.

Amruda Nair

Here is list of confirmed speakers:

  • V.S.S. Mani: Founder and CEO of Justdial Ltd
  • Raghunanadan G: Founder and CEO of TaxiForSure
  • Amruda Nair: Joint Managing Director and CEO of AIANA Hotels and Resorts LLC
  • Tanmay Bhat: Co-Founder of AIB
  • Ritesh Malik: Forbes 30 Under 30 Asia ’16 and co-founder Innov8
  • Vivek Hinduja: Founder of Gokaldas Exports, founder and CEO of Matrix & Vectors

    Anshulika Dubey

  • Jay Krishnan: Co-founder and CEO of T-Hub
  • Rohit Arora: Co-founder and CEO of Biz2Credit
  • Nayan Parekh: Executive Director and president of Nilkamal Ltd
  • Pradeep Singh: CEO of the Mohali Campus and Deputy Dean of Indian School of Business
  • Anshulika Dubey: Co-founder of Wishberry.

Click here to register for the India Symposium.

Babson College is the educator, convener, and thought leader for entrepreneurship of all kinds​​​​​​​​​​​​​​. The top-ranked college for entrepreneurship education, Babson is a dynamic living and learning laboratory where students, faculty, and staff work together to address the real-world problems of business and society. We prepare the entrepreneurial leaders our world needs most: those with strong functional knowledge and the skills and vision to navigate change, accommodate ambiguity, surmount complexity, and motivate teams in a common purpose to make a difference in the world, and have an impact on organizations of all sizes and types.

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Neutral stance allows us to go any way on RBI rates: RBI Governor Patel

Feb 17, 2017 0

Mumbai–RBI Governor Urjit Patel said on Friday the change to “neutral” stance at the bank’s monetary policy review last week allows more flexibility to go either way on rates, as compared with an earlier “accommodative” one on inflation outlook.

The Reserve Bank of India at its monetary policy review last week maintained its key policy rate unchanged at 6.25 per cent.

The RBI Governor told CNBC-TV18 in an interview that the RBI was moving at a fast pace towards remonetisation with the printing of currency going at full capacity from day one of demonetisation on November 9.

Urjit Patel

“The best way that central bank can support growth on a durable basis is to ensure inflation is low, stable, there is financial stability and that is the role the central bank plays. Very few countries grow at high growth rate if inflation is high and volatile. So, I think we are doing our bit to support higher growth rate, but on a durable basis,” he said.

“I think that in terms of remonetisation, we are proceeding at a pace that is very quick. Therefore, we have managed to bring the situation to normal along most of the dimensions after demonetisation,” he said.

“In a way, this was part of the plan that we would be printing the currency notes to full capacity from day one and we would reach a threshold point in this process when things do become more or less normal,” he added.

Patel said he was confident that like demonetisation, remonetisation too would achieve its objectives, criticism or no criticism.

“That has always been the case. What makes news is fairly subjective in this regard,” he said.

Acknowleding the impact of demonetisation, the RBI last week lowered economic growth estimate for the current fiscal to 6.9 per cent from 7.1 per cent projected earlier.

In his first comprehensive interview since the demonetisation drive, Patel said India’s economic growth will make a “sharp V” recovery following the recall of old 500- and 1,000-rupee notes.

“Almost everyone agrees that the impact is going to be a sharp ‘V’, that we would have a downgrade of growth for a short period of time,” he said.

Also in his first reactions to America becoming protectionist under President Donald Trump, Patel cautioned that the world’s response to it “could get messy.”

“The change in policies from the largest economy in the world… the US, is something that the world will have to start getting used to because it is a major change in terms of openness to trade, in terms of trade barriers, in terms of the kind of fiscal policy that the new government may undertake, which against a backdrop of a tightening monetary policy stance by the US Fed has a real possibility of financial volatility going forward,” he said.

“So, I think we are at an important juncture and the possibility of negative consequences for countries around the world is a possibility. Asia may come in for special treatment because almost two-thirds of the US trade deficit in goods is with respect to Asia,” he added. (IANS)

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