Innholdsfortegnelse for 24 July 2022 i Business Today

HUB FOR INNOVATION HYDERABAD-BASEDstart-up ecosystem enablerT-Hub has inaugurated a new innovation campus that aims to support at least 20,000 start-ups through various interventions in the next five years. With a built-up area of 580,000 sq. ft and 10 floors, the facility is claimed to be the largest innovation hub in the world. It will house start-ups, corporates, investors, academia, and other ecosystem enablers, and international partners from Japan, Korea, and Dubai, among others. Special focus will be given to EV/mobility, health-tech, enterprise tech, gaming and AI. —BINU PAUL 4.5 PER CENT THE DECADE-HIGH CORPORATE PROFIT TO GDP FOR LISTED COMPANIES IN FY22. THE FIGURE STOOD AT 4.3 PER CENT FOR THE NIFTY 500 UNIVERSE BOILING OVER Speculation on India banning rice exports has gained momentum, especially after the staple food’s price…

THE ONE THING every CEO, indeed any person employed in the business world, dreams of is a profit up-cycle. This is the corporate equivalent of the proverbial—God’s in his heaven/All’s well with the world. Profits go up, companies feel bolder, invest in new projects, employ more people, hand out bigger increments and, yes, stock prices go higher. What’s not to like? Some excesses happen, but that is inevitable. No better example of such a phase than the 2003-2008 boom, probably the biggest up-cycle we will see in this era. It may have ended badly, but the memories are still sweet. The decade that followed, with minor rebounds in between, was India’s ‘lost decade’ from a perspective of corporate profits. The particularly pronounced phase of this downturn was between 2013 and…

MARUTI SUZUKI unveiled Asia’s largest 20-megawatt peak (MWp) carport-type solar power plant at its Manesar facility near Delhi in June. With this, India’s largest carmaker joined the front ranks of commercial and industrial (C&I) trailblazers that are increasingly harnessing solar power to meet their energy requirements. With solar panels mounted on the overhead shade of a parking shelter the size of nearly 23 football fields, the facility will contribute 28,000-megawatt hours (MWh) per annum to the company’s energy requirements. This is equivalent to the energy required by Maruti to produce 67,000 cars. “Our company has been committed to the cause of expanding the use of sustainable energy options to optimise operations. The power generation from this initiative will constitute over 11.5 per cent of the power requirement of the facility…

Co-Presenting Partner Powered by Associate Sponsor Digital Payments Partner Luxury Partner THE 10TH ANNIVERSARY of the Business Today MindRush was a milestone in multiple ways. First, it was the 10th edition of the flagship event of India’s largest business magazine. And second, it had the most stellar line-up of attendees ever seen. From Union Minister Piyush Goyal to global management guru Ram Charan to Harvard Business School professor V.G. Narayanan to Infosys’s iconic Founder N.R. Narayana Murthy and its current CEO Salil Parekh, to Maruti Suzuki Chairman R.C. Bhargava to Tata Steel and L&T honchos T.V. Narendran and S.N. Subrahmanyan to the Champion of Champions Rajeev Jain of Bajaj Finance to a bunch of start-up unicorn founders and many more, the line-up was starry enough to turn the muggy, hot…

Source: Ministry of Commerce and Industry $60 BILLION Merchandise imports stayed above this mark for the fourth month in a row in June due to spiralling commodity prices $37.94 BILLION The total value of exports in June 2022, an increase of 16.78 per cent year-on-year (YoY) $100 BILLION Total trade stayed above this figure for the fourth consecutive month in June $70.25 BILLION India’s trade deficit for the first quarter ended June 30, 2022, up 123 per cent YoY…

GALLOPING INFLATION, the tussle between Russia and Ukraine, the pullout by foreign institutional investors (FIIs) and interest rate hikes by central banks have converged to wipe out ₹22 lakh crore from the market cap of BSE-listed firms during H1CY22. Overall, the benchmark BSE Sensex has slipped nearly 9 per cent to 53,018.94 till June 30, 2022, from 58,253.82 on December 31, 2021. Around 80 per cent of the BSE 500 stocks have declined during this period with the NSE Nifty index falling 9 per cent on a year-to-date (YTD) basis. In the Nifty50 index, Tech Mahindra has slipped the most at 44 per cent, followed by Wipro at 42 per cent and Bajaj Finserv at 33 per cent YTD. The top gainers are Mahindra & Mahindra—up 30 per cent; Coal…

JAHID HASNAT, 64, WAS IN A FIX. The Dhaka resident, who was suffering from cardiac and urology-related ailments, couldn’t decide where to travel to for treatment. Medical facilities in Bangladesh were not up to the mark and an earlier visit to Singapore had burnt a huge hole in his pocket. India was an option, but a previous visit had resulted in a bitter experience. He approached Healthport Bangladesh, an international medical treatment service provider, which put him in touch with HealthTrip, a Delhi-based start-up specialising in medical tourism in India. “A person picked us up at the airport and assisted us in getting a hotel and finally the hospital appointments and tests,” says a relieved Hasnat. “Everything was smooth and much better than our previous trip when we didn’t know…

NOIDA-BASED JYOTIKA SHARMA bought her dream home last year. Property prices were low and the 30-year-old interior designer spared no expense for her dwelling—from a modular kitchen to state-of-the-art bathroom fittings to vibrant wall colours to the latest home appliances, she had it all. Her well-appointed home filled her heart with happiness. Now, it is giving her sleepless nights. Reason: Rising equated monthly instalments (EMIs). Why are EMIs rising? The trigger was the Reserve Bank of India (RBI) increasing the repo rate by 0.9 per cent since May 4, 2022. Banks have passed on the entire rate hike to customers, amid a rise in borrowing costs. For her home loan, Sharma used to pay interest at 6.72 per cent when she bought her property; now she is paying 7.62 per…

WONDER WASHER Tough times need tough measures. Hand-cleaning dishes and utensils are fine during normal times, but when you’re battling Covid-19, you need to get rid of all the bacteria. Plus, you should avoid exposing yourself to germs by washing dishes by hand. This dishwasher with its 70º hot water wash claims to kill 99.9 per cent of bacteria (it removes oil and masala residues as well). It also has a dry cycle and a self-cleaning mode that runs up to 50 minutes at a high temperature. Available on amazon.in CLEAN & FRESH An apple a day keeps the doctor away. But if the apple’s not fresh or covered with some stuff to make it look fresh, a trip to the doctor is the most likely outcome. While one needed to…

PIYUSH GOYAL, Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles, aptly set the tone for Business Today’s ‘MindRush 2022’ event when he asserted, “My reply to VUCA is ‘Yuva in India’, and the world marvels at the skills of our fantastic youngsters!” India has today become the voice of the developing world that had gone unrecognised for a while, the minister said. He said that modernity along with tradition was the strength of the business ecosystem in the country. Referring to the unprecedented exports and foreign direct investment (FDI) in FY22, he reiterated that India Inc. must target $1 trillion of merchandise and services exports by 2030. “India is perfectly poised to be an alternative destination for investment in the world,” the minister said, adding…

93.73% of frauds by value reported in 2021-22 occurred in previous financial years as against 91.71 per cent in 2020-21 PUBLIC SECTOR LENDERS ACCOUNTED FOR A MAJOR SHARE OF THE AMOUNT INVOLVED IN BANKING FRAUDS… Fraud amount (₹ ’000 crore) …WHILE PRIVATE LENDERS WITNESSED A SHARP RISE IN THE NUMBER OF CASES Number of cases Public sector lenders Private sector lenders Amount involved Total provisions* Note: RBI data only considers frauds of ₹1 lakh and above; *Provisions made by listed banks FRAUDS IN ADVANCES SPIKED POST-COVID *The CBI in Feb 2022 filed a case against the firm and its then CMD SCAM STARS Here are some other recent major banking frauds in India ABG SHIPYARD Year: 2022* Amount involved: ₹22,842 crore Lenders defrauded: Consortium of 28 banks, including State Bank of…

INDIA’S AVIATION MARKET has been buzzing with activity ever since the impact of the Covid-19 pandemic waned. The entry of new players, new deals and recovering air traffic are harbingers of the dogfight waiting to take over the Indian skies. Now, it has been reported that Air India and Jet Airways—two major Indian carriers—are looking to place aircraft purchase orders worth more than $45 billion at list prices. Air India is considering buying 300 narrow-body jets—which would be one of the largest orders in India’s commercial aviation history, say reports. “The order will provide a significant opportunity for Air India to revamp its fleet, and negotiate much better rates with the manufacturers,” says Rohit Tomar, Partner at aviation advisory Caladrius Aero. As the order is big, “it will be delivered…

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For 34-year-old Harshil Gala, the CEO of Navneet Toptech—a company making digital classrooms—cars have always been a passion. And it’s not restricted to driving—he loves to collect them as well. However, he does not have a multi-storey garage to park all his beauties, but instead shelves all over the house. Gala collects model scale cars and has nearly 600 of them divided between three scales—1:18, 1:23 and 1:43. The last category being reasonably small, almost the size of Hot Wheels, a set of cars immensely popular with children. “Like most children, I loved to collect toy cars as a child, but I got introduced to model cars at an early age,” says Gala. At that time, the only model cars available were sports cars and through them, Gala was familiarised…