India approves permanent residency status for foreign investors

Aug 31, 2016 0

New Delhi– In an attempt to encourage foreign investments in India, the central government on Wednesday approved a scheme to grant permanent residency status (PRS) to foreign investors for 10 years subject to conditions specified in the foreign direct investment (FDI) policy.

The Union Cabinet approved the scheme at a meeting chaired by Prime Minister Narendra Modi here.

Indian Prime Minister Mody

Indian Prime Minister Mody

According to a government statement, suitable provisions will be incorporated in the visa manual to provide for the grant of PRS to foreign investors.

The PRS will be granted for a period of 10 years with multiple entry. This can be renewed for 10 more years if the PRS holder has not come to adverse notice.

The scheme will be applicable only to foreign investors fulfilling the prescribed eligibility conditions, his/her spouse and dependents.

In order to avail this scheme, the foreign investor will have to invest a minimum of Rs 10 crore to be brought within 18 months or Rs 25 crore to be brought within 36 months.

Further, the foreign investment should result in generating employment to at least 20 resident Indians every financial year.

The PRS will serve as a multiple entry visa without any stay stipulation and PRS holders will be exempted from the registration requirements.

The PRS holders will be allowed to purchase one residential property for dwelling purpose.

The spouse/dependents of the PRS holder will be allowed to take up employment in private sector (in relaxation to salary stipulations for Employment Visa) and undertake studies in India. (IANS)

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Sushma meets John Kerry for annual dialogue

Aug 30, 2016 0

New Delhi– External Affairs Minister Sushma Swaraj on Tuesday met US Secretary of State John Kerry here ahead of the India-US Strategic and Commercial Dialogue.

“Building convergences with the United States. EAM receives @JohnKerry for 2nd Strategic & Commercial Dialogue,” External Affairs Ministry spokesperson Vikas Swarup tweeted.

kerry-sushmaSushma Swaraj and Kerry will lead their respective sides at the Dialogue to review the progress on decisions taken last time and identify new areas of cooperation.

India and the US earlier on Tuesday began the economic phase of their Strategic and Commercial Dialogue, with Commerce Minister Nirmala Sitharaman asking America Inc to join the country’s ‘Make in India’ initiative.

Sitharaman first met co-chair and US Secretary of Commerce Penny Pritzker, following which they presided over the India-US CEO Forum, that has Tata Sons Chairman Cyrus Mistry and Honeywell Chairman Dave Cote as the co-hosts.

Prime Minister Narendra Modi and US President Barack Obama had decided in 2015 to elevate the then India-US engagement into a Strategic and Commercial Dialogue, reflecting the significance of the trade and economic ties between the two sides. (IANS)

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Indian scientists capable of meeting demands of our farmers: Minister

Aug 29, 2016 0

New Delhi–Environment Minister Anil Madhav Dave on Monday said that Indian agriculture scientists are capable enough for meeting the demands of farmers.

His statement came as some farmers associations have urged chief ministers of 22 states to push the central government to allow Genetically Modified (GM) mustard. Meanwhile the Environment Ministry on Thursday said that it has not taken a final call on allowing its cultivation.

It also said that ministry will seek public comments before allowing the GM mustard, which, while opposed by some green activists, is also praised by farmers for its high productivity.

Anil Madhav Dave

Anil Madhav Dave

“Indian agricultural scientists are perfectly capable of meeting the demands of our farmers,” the minister said while inaugurating a workshop on private sector facility under Green Climate Fund (GCF) here.

The workshop aims at providing an opportunity to the private sector to explore funding opportunities offered by the Green Climate Fund (GCF), a fund under United Nations Framework Convention on Climate Change (UNFCCC) to help developing countries tackle climate change.

The fund was formed in 2010 and aims to channel about $100 billion each year to the developing countries for climate change, however the “expectations of developing countries” and “capacity of developed country to deliver such amount” is debated by several experts.

The minister also added that climate change cannot be rectified merely through economics.

He laid emphasis on the mobilisation of financial resources for clean and green investment and sought greater involvement of stakeholders in the planning process. He also emphasised building of sustainability through the traditional Indian knowledge.

An ardent follower of traditional methods for farming, Dave, during a recent interaction with media, spoke at length the quality of crop cultivated through such methods. (IANS)

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Tata Group announces a $25 million to fund research and development in top universities

Aug 29, 2016 0

Mumbai– The Tata Group on Monday announced a $25 million collaboration to fund research and development in some of the world’s topmost universities.

Tata Sons, Tata Consultancy Services (TCS), Tata Chemicals, Tata Communications, Tata Steel and Jaguar Land Rover (JLR) will partner with Harvard, Yale, Royal Society, UK and the Indian Institute of Technology (IIT)-Madras, among others.

The financial support, to be spread over time in line with the tenure of the individual universities, is part of the Tata partnership with academic institutions to support faculty and students.

The support includes funded research programmes, sabbaticals, fellowships and engagements with university leadership besides studying long-term research outcomes related to key market needs.

“The Tata Group’s vision is to touch the lives of 25 percent of the world’s population. For this we are engaging with the best research institutions around the world to enable sustainable market development in the regions we work and live,” said Tata Sons Group Chief Technology Officer Gopichand Katragadda.

According to Katragadda, the collaborative platform would enable the Tata companies work closely with these top universities and the research there would be strengthened by the Tata Group’s market understanding to create meaningful outcomes.

Tata Sons, Tata Communications, Tata Steel and JLR will have a six-year alliance with Harvard Univeristy for developing soft robotics, advanced materials and sensor technologies.

Tata Sons, TCS and Tata Chemicals will partner for five-years with Yale Univeristy in areas of network sciences, consumer behaviour and other research to enable specific applications for needs including employee change management, customer acquisition strategies and digital health.

The collaboration with Royal Society, UK, announced in June aims to establish nine Tata University Research Fellowships in physical sciences and engineering over 10 years.

The five-year engagement with IIT-Madras would be strategic research in Advanced Materials with the main collaborator Tata Steel and Tata Sons providing additional support, for establishing a self-sustaining research centre in Advanced Materials Technologies for the Tata Group.

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Rajan rules out rate cuts unless inflation tamed

Aug 29, 2016 0

Mumbai–Reserve Bank of Governor (RBI) Raghuram Rajan on Monday ruled out any further interest rate cuts till such time the inflation came down to the comfort zone, and once again asked commercial banks to lower the cost of credit to their customers.

“Inflation projections are still at the upper limits of RBI’s inflation objective,” Rajan said in his last Governor’s Foreword to Annual Report released here, referring to the government-mandated level of 4 per cent annual retail inflation, plus or minus 2 percentage points.

“With the Reserve Bank needing to balance savers’ desire for positive real interest rates with corporate investors’ and retail borrowers’ need for low nominal borrowing rates, the room to cut policy rates can emerge only if inflation is projected to fall further,” he said.

In any case, the task of taking a call on the interest rates is to be handed over to a new Monetary Policy Committee, that will comprise three representatives from the central bank — including the RBI Governor as its chair — and three others to be chosen by the government.

Rajan also said the willingness of commercial banks to cut lending rates was muted, since the level of corporate investment had reduced the volume and scope of new profitable loans for banks. The stressed assets of the lenders was also preventing them from taking fresh exposures freely.

As regards growth, he said, while the economy was showing signs of picking up, it was still below the levels that the country was capable of.

“The key weakness is in investment, with private corporate investment subdued because of low capacity utilisation, and public investment slow in rolling out in some sectors,” said Rajan, who is scheduled to demit office on September 4 and hand over the reins to Deputy Governor Urjit Patel.

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Indian states-US investors dialogue can boost bilateral trade: Jaitley

Aug 29, 2016 0

New Delhi– Indian states are growing at around 10-11 per cent and a dialogue between them and American investors can help in boosting Indo-US bilateral trade, Finance Minister Arun Jaitley said on Monday.

Jaitley said this at a meeting here with US Commerce Secretary Penny Pritzker and Director of the US National Economic Council Jeffrey Zients, ahead of the second India-US Strategic and Commercial Dialogue due to take place here on Tuesday, according to a Finance Ministry release here.

Pritzker said the trade dialogue by the Chief Ministers of Indian states with different US authorities can be given a structured shape in order to give impetus to the bilateral trade, the statement said.

She also welcomed the approval to the Goods and Services Tax (GST) Bill and hoped that this will boost the economic activities in the country at large, it added.

In what is likely to be the last major engagement between India and the outgoing administration of President Barack Obama, US Secretary of State John Kerry and Pritzker will co-chair the second edition of the dialogue from the American side, while India will be represented by External Affairs Minister Sushma Swaraj and Commerce Minister Nirmala Sitharaman. The last round of S&CD was held in Washington in September last year.

India-US bilateral trade has crossed the $100 billion level in 2015 — up from $37 billion in 2005.

US investment in India last year crossed $28 billion and Indian investment in the US reached more than $11 billion.

During her India visit, the US Commerce Secretary will meet Indian entrepreneurs and participate in an event celebrating US-India cooperation on travel and tourism. India and the US have decided to be Travel and Tourism Partner Countries in 2017.

“The engagement is likely to cover the discussion between Indian and US CEOs in the forenoon of 30th August,” a Commerce Ministry release here said.

“In line with the CEO Forum recommendations to boost the renewable energy sector, both sides are working on the US-India Energy Finance Initiatives, which is expected to mobilise upto $400 million by 2020,” it added.

At the CEOs Forum, both sides will review the progress made on deliberations such as boosting renewable energy and defence ties and smart city projects.

The two sides are also likely to discuss innovation and entrepreneurship and various other policies and measures to further trade ties between both the countries.

Chairman of Tata Group Cyrus Mistry will co-chair the meeting from the Indian side, and Dave Cote, Chairman of Honeywell International, from the US side.

“The discussions are expected to take place regarding smart city master planning activities for three cities — Ajmer, Allahabad and Vizag — for which an MoU has been signed between India and the US,” the Indian Commerce Ministry said.

At the strategic dialogue, India is also expected to lobby once again with the US to garner the support of all member countries for India’s entry into the Nuclear Suppliers Group (NSG), which will allow it to trade in nuclear material and technology. (IANS)

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Parrikar leaves for US, logistics deal on anvil

Aug 28, 2016 0

New Delhi– Defence Minister Manohar Parrikar on Sunday left for a tour of the US, where he will be meeting Defense Secretary Ashton Carter on Monday, officials said.

The two sides are expected to discuss the logistics sharing agreement during the visit, sources said, even as there was no official word on possibility of the deal being sealed.

This is Parrikar’s second visit to the US in eight months.

During Carter’s visit to India in April this year, India and the US had announced they will be signing a Logistics Exchange Memorandum of Agreement.

Parrikar will, during his tour, visit the 9/11 memorial at Pentagon, the US Cyber Command, Andrews Air Force Base, and Langley Air Force base and interact with US business industry associates during the first two days of his visit.

On Wednesday, he will be visiting the Boeing facility in Philadelphia, sources said. The minister will return for Delhi on Thursday.

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Weekly Outlook: Trading likely to remain choppy in Indian stock markets

Aug 28, 2016 0

Mumbai– Volatility in Indian stock markets is expected to continue during the sessions ahead, after two weeks of bearish trends, with some fresh directions also expected from the release of domestic macro data, notably the GDP numbers, analysts said.

During the past week, the sensitive index (Sensex) of the BSE shed 294.75 points or 1.05 per cent, at 27,782.25 points. This came over and above the drop of 75.40 points or 0.27 per cent during the week before at 28,077 points.

As regards the other key index, the 51-share Nifty of the National Stock Exchange (NSE), the fall was 94.35 points or 1.09 per cent at 8,572.55 points during the past week, and 5.25 points or 0.06 per cent at 8,666.90 points during the week before.

Figures from the National Securities Depository (NSDL) showed that foreign portfolio investors were net sellers of equities worth Rs 626.63 crore, or $92.89 million from August 22-26.

Trading during the past week also came after Urjt Patel was named as the next Governor of the Reserve Bank of India. This apart, investors were awaiting for the crucial signals from the speech of US Federal Reserve Chief Janet Yellen at an annuam meeting at Jackson Hole in Wyoming. Further, volatility was induced by the expiry of futures and options contracts.

“The appointment of Urjit Patel as the successor of Raghuram Rajan was in general perceived to be a good move by the government, but it also raised market concerns that the hawkish RBI stance on interest rates will continue,” said Pankaj Sharma, Head of Equities, Equirus Securities.

“The markets, along with the global counterparts, came off during the week as investors waited for the Yellen speech to sense whether and when US Fed will like to hike the interest rates,” added D.K. Aggarwal, Chairman and Managing Director, SMC Investments and Advisors.

But opinions were divided on the impact of Yellen’s speech — a positive one for the US — on Indian markets.

“In her speech, Yellen highlighted that the US economy is in a better shape, there is a good pick-up in demand and there is a good case for increasing the rates now,” said Sharma of Equirus Securities.

“Of course, there is no clarity on the exact timelines but it looks likely that unless the economic data deteriorates significantly in coming months, there is a good chance that we will see a rate hike by US Fed this year,” he said, adding that this will influence the markets.

Vijay Singhania, Founder-Director of Trade Smart Online, had a different take.

“Indian markets are expected to see a positive opening (On Monday) as the chances of a Fed Rate hike in September is off the table. Lack of surprises in Yellen’s remarks is completely in line with most expectations and the key takeaway that is ‘nothing’s changed’,” he said.

Dhruv Desai, Director and Chief Operating Officer of Tradebulls, said some other developments will also have an influence on Indian markets in the coming week.

“Investors will closely follow the important cues in the next week — and these will be inflow of funds from foreign institutional investors into Indian equity markets, the government’s fiscal deficit ituation and the release of quarterly GDP data.” (IANS)

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Tata Sons Only Indian Company to Make to the List of 100 Most Valuable Brands of the World; With Apple at the Top, US Accounts for Half of the Brands

Aug 27, 2016 0

BOSTON–Tata Sons, the holding company of the Tata group of companies, is the only Indian company that made to the List of 100 Most Valuable Brands, according to Brand Finance, which complied the list. While Apple remained the brand #1, forty-four US companies accounted for nearly half of the brands.

Tata Sons ranked number 54 in the list, down from 46 in 2015. Tata Sons has 36 major brands attached to its name.

Ratan Tata

Ratan Tata

Every year, leading branded business valuation and strategy consultancy Brand Finance puts thousands of the world’s top brands to the test. They are evaluated to determine which are the most powerful and the most valuable by country, by industry and against all other brands worldwide. The companies with the highest total value of brands under management can be found in the Brand Finance Portfolio 100.

The total value of the table is US$3.2 trillion, half of which is from the 44 US companies which total US$1.68 trillion, according to brand finance.

14 Chinese companies feature in the table, rendering it the country with the second highest number of portfolios. They make up US$347 billion of the total sum. Nine European Union countries make the table and are home to 29 brands, nine of which are UK-based – more than any other European country.

The portfolio table lists the companies with the most brand value under their management. Some companies, like Apple, only include one highly valuable brand, while other companies, like Nestlé S.A., operate hundreds. Apple does operate more brands, however, due to their reporting, it is not possible to identify and value these sub-brands from their financial statements.

The fastest growing portfolio this year is Agricultural Bank of China, with a value of US$32.3 billion after enjoying 42% growth. China Construction Bank and ICBC make the top five, with values of US$35.4 billion and US$36.3 billion after rising 34% and 32%, respectively.

China Construction Bank is in fact the world’s most powerful banking brand. Chinese banks are performing well on brand equity measures such as familiarity, consideration, recommendation and preference as a result of investing in their brands. It must be noted that none of the Chinese portfolios in the table dropped in value.

Unilever’s impactful innovations have boosted its performance. The launch of the new Axe range and the ‘Find Your Magic’ brand campaign appealed to a wider audience as it encouraged men to break free from assumptions about how they should behave and express themselves. Unilever grew 18% to a value of US$42.7 billion this year.

Vodafone Group is the only other UK company to enjoy an increase in value this year, rising 2% to US$27.8 billion. It is no secret that smartphones are becoming increasingly prominent, and the growing proliferation of smartphones in both developed and emerging markets is the main driver behind a surge in data demand and revenue. Vodafone Group’s global presence positions it well to cater to the rising demand. Moreover, the oligopolistic nature of the industry coupled with Vodafone’s immense size gives the company a competitive edge amongst its peers.

With over 500 brands in its portfolio, Nestlé S.A. owns the largest number of brands in the table. It climbs up the ranks to seventh place after 14% growth to a value of US$66.6 billion. Accelerated growth in North America was largely due to the turnaround in frozen meals, whilst in Latin America, Nestlé cited instant coffee as the core reason for growth. Nestlé’s category dynamics and innovation, which can be seen in its range of bottled water, are also factors that contributed to its strong growth.

Furthermore, an increase in health awareness in relation to carbonated drinks gave Nestlé the opportunity to promote its bottled water segment which other companies may have failed to embrace. Nestlé’s success is largely due to the range of product segments it provides, allowing it to more effectively overcome challenging global trends than its competitors.

Volkswagen Ag was the biggest faller in the table this year. Its portfolio value dropped 36% to US$42.2 billion. The latest emissions scandal negatively impacted Volkswagen. However, on a broader spectrum, the light vehicle industry – albeit growing at its slowest rate in the last decade, is forecasted to grow nonetheless. This is somewhat due to the upward surges in China, India and across continental Western Europe which compensate for reductions in Brazil, the US and the UK. Toyota Motor Corp, ranked 10th this year, conforms to the forecasted industry trend, enjoying a 30% increase in portfolio value to US$55.3 billion this year.

100 Most Valuable Brand Portfolios (USDm)

Rank 2016 Rank 2015 Number of Brands* Parent Company Domicile Portfolio Value 2016 (USDm) Portfolio rating 2016 Portfolio Value change (%) Portfolio Value 2015 (USDm)
1 1 1 Apple Inc United States 145,918 AAA 14% 128,303
2 3 17 Alphabet Inc United States 99,046 AAA 25% 79,430
3 2 1 Samsung Group South Korea 83,185 AAA 2% 81,716
4 5 13 Wal-Mart Stores Inc United States 77,523 AA 7% 72,599
5 4 7 Microsoft Corp United States 74,121 AAA -1% 74,912
6 11 6 Amazon.Com Inc United States 69,642 AA+ 24% 56,142
7 9 539 Nestlé S.A. Switzerland 66,604 AA+ 14% 58,300
8 7 1 Verizon Communications Inc United States 63,116 AAA- 5% 59,843
9 8 1 At&T Inc United States 59,904 AA+ 2% 58,819
10 16 4 Toyota Motor Corp Japan 55,285 AAA- 30% 42,546
11 10 43 Procter & Gamble Co/The United States 54,668 AAA- -5% 57,468
12 12 182 Pepsico Inc United States 53,169 AAA- -4% 55,209
13 N/A 82 Philip Morris International United States 52,734 AA+ N/A N/A
14 17 27 Johnson & Johnson United States 50,651 AAA 24% 40,734
15 15 2 China Mobile Ltd China 49,864 AAA- 4% 47,964
16 13 72 Coca-Cola Co/The United States 48,301 AA+ -8% 52,339
17 25 1 Wells Fargo & Co United States 44,170 AAA- 26% 34,925
18 21 3 J.P. Morgan Chase & Co United States 43,549 AA 18% 36,777
19 18 3 Walt Disney Co/The United States 43,458 AAA 10% 39,609
20 N/A 1 Mcdonald’s Corp United States 42,937 AAA N/A N/A
21 N/A 4 Daimler Ag Germany 42,863 AAA- N/A N/A
22 22 103 Unilever Plc United Kingdom 42,666 AA+ 18% 36,179
23 6 8 Volkswagen Ag Germany 42,239 AAA+ -36% 65,540
24 19 3 Bayerische Motoren Werke Ag Germany 41,532 AAA 8% 38,527
25 14 1 General Electric Co United States 37,216 AA+ -22% 48,019
26 23 114 Anheuser-Busch Inbev Nv Belgium 37,073 AA+ 3% 36,016
27 34 1 Ind & Comm Bk Of China China 36,334 AA+ 32% 27,459
28 38 1 China Construction Bank China 35,394 AAA 34% 26,417
29 30 3 Comcast Corp United States 34,431 AAA+ 14% 30,193
30 45 1 Facebook Inc United States 34,002 AAA- 41% 24,180
31 28 3 Deutsche Telekom Ag-Reg Germany 33,194 AA+ 7% 31,108
32 27 4 Exxon Mobil Corp United States 33,040 AA 5% 31,404
33 49 1 Agricultural Bank Of China China 32,264 AAA 42% 22,714
34 24 1 Intl Business Machines Corp United States 31,786 AA -10% 35,428
35 N/A 1 Nippon Telegraph & Telephone Japan 31,678 AA N/A N/A
36 29 1 Royal Dutch Shell Plc Netherlands 31,665 AA+ 3% 30,716
37 32 20 L’Oreal France 31,620 AAA 10% 28,866
38 31 2 Bank Of America Corp United States 30,940 AA 6% 29,319
39 26 38 Lvmh Moet Hennessy Louis Vui France 30,759 AA -10% 34,195
40 39 5 Nike Inc United States 29,151 AAA 16% 25,103
41 41 1 Home Depot Inc United States 28,798 AAA- 18% 24,471
42 N/A 10 General Motors Co United States 28,011 AAA+ N/A N/A
43 36 2 Vodafone Group Plc United Kingdom 27,821 AA+ 2% 27,287
44 N/A 76 Japan Tobacco Inc Japan 27,797 AA N/A N/A
45 N/A 1 Bank Of China Ltd China 27,735 AAA N/A N/A
46 35 2 Citigroup Inc United States 27,713 AA+ 1% 27,372
47 N/A 3 Softbank Corp Japan 27,676 AA N/A N/A
48 N/A 103 British American Tobacco Plc United Kingdom 27,070 AA N/A N/A
49 50 1 Mitsubishi Corp Japan 24,461 AA 8% 22,679
50 N/A 3 Cvs Caremark Corp United States 24,176 AA+ N/A N/A
51 37 2 Hsbc Holdings Plc United Kingdom 24,174 AAA- -11% 27,280
52 N/A 4 Barclays Plc United Kingdom 23,751 AAA+ N/A N/A
53 N/A 1 Hyundai South Korea 23,691 AA+ N/A N/A
54 46 36 Tata Sons India 23,498 AA -1% 23,768
55 N/A 2 Starbucks Corp United States 23,455 AAA- N/A N/A
56 N/A 5 Telefonica Sa Spain 23,243 AA+ N/A N/A
57 40 1 Intel Corp United States 22,845 AA+ -9% 25,011
58 48 1 Oracle Corp United States 22,136 AA -3% 22,888
59 43 2 Honda Motor Co Ltd Japan 21,576 AAA- -11% 24,347
60 N/A 2 Ford Motor Co United States 21,506 AAA- N/A N/A
61 N/A 2 Twenty-First Century United States 21,165 AA+ N/A N/A
62 N/A 2 Petrochina Co Ltd China 20,986 AA N/A N/A
63 47 12 Fiat Chrysler Automobiles Nv Italy 20,405 AA -11% 22,977
64 N/A 1 Allianz Se Germany 20,264 AA N/A N/A
65 N/A 1 China State Construction China 20,214 AA- N/A N/A
66 N/A 1 China Petroleum & Chemical China 20,144 AA N/A N/A
67 N/A 1 Huawei China 19,743 AA N/A N/A
68 N/A 1 United Parcel Service United States 19,565 AA+ N/A N/A
69 N/A 2 Siemens Ag Germany 19,415 AA+ N/A N/A
70 N/A 2 Nissan Motor Co Ltd Japan 19,312 AA+ N/A N/A
71 N/A 4 United Health Group Inc United States 19,173 AA N/A N/A
72 44 1 Cisco Systems Inc United States 19,162 AAA- -21% 24,324
73 N/A 1 Orange France 19,096 AA+ N/A N/A
74 N/A 196 Danone France 19,026 AA+ N/A N/A
75 N/A 1 PwC United States 18,569 AAA+ N/A N/A
76 N/A 1 American Express Co United States 18,483 AA+ N/A N/A
77 N/A 1 Bt Group Plc United Kingdom 18,442 AAA- N/A N/A
78 N/A 181 Heineken Nv Netherlands 18,376 AA- N/A N/A
79 N/A 62 Diageo Plc United Kingdom 18,303 AA+ N/A N/A
80 N/A 2 Axa Sa France 18,280 AA N/A N/A
81 N/A 37 Kraft Foods Group Inc United States 18,175 AA N/A N/A
82 N/A 1 Alibaba Group Holding China 17,968 AA+ N/A N/A
83 N/A 1 China Life Insurance Co China 17,870 AAA N/A N/A
84 N/A 3 Chevron Corp United States 17,822 AA+ N/A N/A
85 N/A 4 Lloyds Banking Group Plc United Kingdom 17,522 AAA+ N/A N/A
86 N/A 4 Bnp Paribas France 17,362 AA N/A N/A
87 N/A 1 Bp Plc United Kingdom 16,962 AA N/A N/A
88 N/A 3 Kddi Corp Japan 16,917 AA N/A N/A
89 N/A 7 Walgreens Boots Alliance United States 16,645 AA- N/A N/A
90 N/A 2 Sony Corp Japan 16,557 AA+ N/A N/A
91 N/A 5 Tencent Holdings Ltd China 16,448 AA+ N/A N/A
92 N/A 1 Baidu Inc China 16,418 AAA- N/A N/A
93 33 9 Time Warner Inc United States 16,210 AAA+ -33% 24,091
94 N/A 1 Mitsui & Co Ltd Japan 16,183 AAA+ N/A N/A
95 N/A 1 Deloitte United States 16,160 AAA N/A N/A
96 N/A 1 Banco Santander Sa Spain 15,689 AA+ N/A N/A
97 N/A 1 Ping An Insurance Group Co China 15,569 AAA+ N/A N/A
98 N/A 1 Hennes & Mauritz Ab Sweden 15,510 AA+ N/A N/A
99 N/A 1 Target Corp United States 15,331 AA N/A N/A
100 N/A 5 Yum! Brands Inc United States 15,252 AA+ N/A N/A
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US-based emotional wellness startup wayForward and Fortis launch mobile platform to combat stress

Aug 27, 2016 0

New Delhi–Fortis Healthcare and US-based emotional wellness startup wayForward have for the first time in India launched an app-based wellness programme to manage stress and related ailments, at an event here on Saturday.

The health app, which shares its name with the company has a unique proprietary algorithm that overcomes the barrier of limited access to experts.

Navya Singh

Navya Singh

The ‘wayForward health app’ uses techniques of cognitive behaviour therapy (CBT) and mindfulness to help solve problems caused by stress, anxiety and other emotional or mental health issues in the comfort of their own homes without the fear of stigma.

“Our research with users of the wayForward app in the US has shown that more than 80 per cent cases showed improvement in just three weeks,” said Navya Singh, Founder of wayForward, in a statement.

Many a times individuals find themselves unable to manage daily stress in their professional lives. They also find it hard to consult a mental health specialist as they feel embarrassed about it.

wayForward“Despite advancements on many fronts in India, there is a low level of awareness regarding stress and mental health. This digital health programme is a very innovative and much-needed solution for our increasingly stressed society,” said Bhavdeep Singh, CEO at Fortis Healthcare.

India’s rapid economic expansion has boosted corporate profits and employee incomes, but has also sparked a surge in workplace stress and lifestyle diseases that few Indian companies have addressed, revealed a recent study by the Indian Council for Research on International Economic Relations.

“Mental and emotional health issues are more common than we imagine and impact almost every family, placing a significant burden on individuals and society,” said Samir Parikh, Director (Mental Health and Behavioural Science) at Fortis Healthcare.

Through its unique “coach in your pocket” concept, the app ensures that everyone has access to mental and emotional health support at all times.

Available across India on both Android and iOS platforms, the app provides high-quality wellness support in a group and allows experts to help many more people than is possible with one-on-one support.(IANS)

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