Amul bucks the trend
Amul (Gujarat Cooperative Milk Marketing Federation Ltd.) has registered a staggering 187 per cent growth in the last six years with a CAGR of 19.2 per cent. The value of all products sold under the Amul brand was $5 billion in 2015-16. The company is now the world’s 13th largest dairy organisation. The chairman said that while milk prices have fallen all over the country, farmer-members of the Amul cooperative have thrived.
Global automakers play contrarian role
Beijing has directed automakers to comply with its stringent green standards by 2020, to combat rising air pollution in China. As per the new requirements, cars should consume only 5 litres of petrol per 100 km. Domestic firms are expecting this regulation to increase the sale of electric vehicles, but foreign automakers continue to manufacture petrol variants.
Declare black money by 30 September or face action
Prime Minister Modi said that the Income Declaration Scheme provides an option to declare black money and joins the mainstream between 1 June and 30 September after which anyone found guilty would face severe action. Tax and penalty on black money will be charged at 45 per cent to those holders who come clean during this time.
Seven mega cities by 2030, says UN
According to the 2016 World Cities Report of the UN, India will have seven mega cities by 2030, two more than its current tally. Delhi will be the second most populous city in the world. The other mega cities in India now are Mumbai, Kolkata, Bengaluru, and Chennai. The new entrants in 2030 will be Hyderabad and Ahmedabad.
Rafale deal may get go-ahead soon
After much negotiation, the Rafale fighter jet deal is now in the final clearance stage. France has agreed to provide the aircraft, along with 16 critical technologies and jet engine know-how, at Euro 7.25 billion to India. As part of the deal for the 36 fighter jets, France will invest 50 per cent of the value of the deal in national defence and aviation..
In-flight wireless streaming from Jet Airways
Jet Airways has announced the launch of wireless streaming technology on domestic flights. Passengers can use this to stream content onto their phones or laptops. It includes over 200 hours of movies, music and games. This is the first step in the airline’s plan to give its in-flight entertainment a makeover, and ultimately enabling passengers to surf the Internet on board.
Saudi Arabian royalty bites austerity medicine
The world’s largest oil exporter is faced with a budget shortfall of 16 per cent and plans to reduce its dependence on oil. It is aiming to cancel $20 billion worth of projects and slash their budgets by a quarter. After reviewing thousands of projects, the government has warned that it might have to cancel a third of them. Other proposals include merging or removing ministries and rationalising the country’s spending.
SEBI likely to allow employees to have bigger share in IPOs
SEBI proposes to increase the maximum number of shares that employees of a company heading for an IPO can bid for, from the existing Rs. 2 lakh to Rs. 5 lakh. Despite discounts of 5-10 per cent, employee quotas in IPOs are under subscribed because employees are either disinterested or lack the necessary resources.
Amazon replaces Snapdeal in the list of top 10 B-school recruiters
Deloitte emerged as the number one recruiter, followed by Cognizant and ICICI Bank. Snapdeal, which was at number 9 last year, does not feature on the top-ten list of 2016. TCS, Infosys and IBM were the big recruiters from the technology sector.
70 per cent government staff watch videos and youtube during work…
70 per cent of government staff spent time at work watching videos on YouTube. This not only clogs the bandwidth, it also gets in the way of their ability to access digitized files and this is affecting the government’s implementation of the e-office project. A move to fully digitize all files and move to a paperless office is underway.
Mandatory safety features to make cars costlier
From October 2017, all cars will come with manual overdrive and reverse gear sensor systems inbuilt and is expected to make cars costlier. In addition to this, seatbelt alert and high speed warnings will be introduced. From October 2018, all existing cars will also have to be modified to include these features.
ICICI Bank introduces software robotics…
ICICI Bank now has over 200 robots performing 10 lakh transactions every day accounting for 10 per cent of the bank’s total volume of transactions. By the end of the year it will use 500 robots to automate 20 per cent of its transactions. The project is in its pilot phase and is being tested at various locations. MD Chandra Kochhar said that there would not be any layoffs because of the robots.
UK business 'fat and lazy', says country's trade minister
Secretary of State for International Trade Liam Fox accused the UK’s businesses of being too “fat and lazy” to capitalise on opportunities, and said that executives are more interested in playing golf than working on deals. He said that if anything is to come of the international trade deals being negotiated, exporters need to be able to fill the markets.
Indian e-commerce market could reach $28 billion by FY 2020
At a CAGR of 45per cent, India’s e-commerce market could reach $28 billion by 2020, according to Kotak Institutional Equities. An increase in the number of buyers to 110 million and average online spend to $260 per customer will boost retail sales. The buyer base has remained stagnant so far and buyer penetration is at only 16per cent. This 45 per cent CAGR cannot be compared with China’s 116 per cent during 2009-15 because there is a huge difference in the quality of the users.
Blending CSR with responsible growth…
India’s top three companies for “Sustainability and CSR” are Tata Steel, Tata Power and UltraTech Cement. Only top 33 per cent of 217 companies surveyed, lookg at responsible business models long-term. 39 per cent of companies focused on Swachh Bharat, and 59 per cent on solar energy. Largest CSR spends come from healthcare and education. Women empowerment and senior citizen support are neglected.