Innholdsfortegnelse for 13 November 2022 i Business Today

In a world of increasing uncertainty, where business strategy will need to navigate sudden changes in supply chains, market preferences and digital disruptions, how can the business school student—tomorrow’s business leader or entrepreneur—be groomed to take on these challenges? That’s the key question India’s top business schools are grappling with in a VUCA (volatility, uncertainty, complexity, ambiguity) world. It is against this background that the BT-MDRA India’s Best B-schools Survey 2022 assumes even greater significance. This year’s rankings—where the top 11 ranks are unchanged from last year’s—show the ability of India’s top B-schools to adapt to these changing times and remain institutes of choice. These rankings are the much-awaited, definitive list of management institutes that not only offer the most comprehensive courses, but also help students adapt to the rapidly…

AS COMPANIES AROUND the world get a grip on the global two-year chip shortage, chip maker Taiwan Semiconductor Manufacturing Co. (TSMC) has cut down its annual investment budget by at least 10 per cent to around $36 billion for the current year. In Q3FY22, TSMC’s net profit was up nearly 80 per cent at $9.27 billion year-on-year, per its financial report. The decision comes in the wake of rising inflation, slowing demand, and the new rules imposed by the US aimed at cutting off China from obtaining or manufacturing key components for supercomputers. However, industry experts suggest that the chip market will bounce back again in 2025.…

India’s top three IT firms have halved their hiring in Q2FY23 year-on-year. TCS, Infosys and Wipro together hired a net 20,144 employees in the quarter compared to the 42,590 in the year-ago period with Wipro seeing the sharpest decline of 94.7 per cent to 605 hirings from 11,475 hirings in Q2FY22. While year-to-date attrition is moderating for them (still 20 per cent+), the firms admit that there is a fair amount of uncertainty around tech demand owing to global headwinds.…

With the rupee plunging to record lows in recent times—it stood at ₹82.76 against the dollar on October 21—India’s foreign exchange reserves fell to $528.4 billion for the week ending October 14, from a peak of $645 billion in October 2021, as the Reserve Bank of India’s attempt to prevent the rupee’s free fall has depleted some of its reserves. According to Finance Minister Nirmala Sitharaman, two-thirds of the decline in reserves is due to the surging dollar coupled with higher US bond yields.…

Odisha CM Naveen Patnaik is on a mission to attract maximum IT investments to the state. Recently, he inaugurated IBM’s new Client Innovation Centre at O-Hub, Chandaka Industrial Estate, Bhubaneswar. The new centre, Patnaik said, will position Odisha as a technology resource hub of India. Following Deloitte’s assurance of setting up a technology development centre in Bhubaneswar, Patnaik was on a two-day visit to Hyderabad to woo investors. A new Silicon Valley in the making?…

BOLLYWOOD STAR Alia Bhatt, who launched a conscious kids’ clothing brand Ed-a-Mamma in 2020, has extended the brand offering to include maternity wear. The 29-year-old actor, who is expecting her first child, says the idea to launch maternity wear came about organically. “I woke up one day realising that pretty soon my wardrobe is going to need to change. But your sense of style doesn’t change just because your size is going to change. I found that there were not enough options for maternity wear, while still maintaining that sort of young, vibrant style that I connect with.” The range, which was launched on October 14, is currently available on the company’s website and e-commerce platforms Myntra and Tata CLiQ. With a focus on sustainability, it has been developed using…

(Quick-commerce retail technology start-up) Year of launch 2019 Location Srinagar Funded Yes, Series A Trigger Lack of reach and penetration level of national e-commerce players in J&K GROWTH IN GMV • 2020 ₹11 lakh• 2021 ₹2.9 crore• 2022 ₹4 crore “Investors are not very keen to invest in startups in J&K. The geography of the region is the single-biggest reason, as investors feel that scaleability will be an issue going forward… even though the start-ups in J&K are profitable, [and] growing at a tremendous rate”MORIS ADAM (24) Founder, Koshur Store…

“A BUSINESS SCHOOL degree is always useful and coveted; it helps you get a more holistic and well-rounded perspective of all aspects of business,” says Nirmal Jain, Founder of IIFL Group, which today includes IIFL Wealth, IIFL Finance, IIFL Securities and 5paisa.com. Indeed, when Jain entered the stock markets in 1995, all he was armed with was his educational qualifications and a few years of work experience in the FMCG space with HUL. Jain was part of the IIM Ahmedabad batch of 1989 and attributes much of his success to his years at the management school, although he is a rank-holder Chartered Accountant and a Cost Accountant as well. “I became an all-rounder after IIMA,” says the first-generation entrepreneur. “I got a holistic perspective of all aspects of business and…

IN 1992, WHEN he was sitting for his final exams at IIM Ahmedabad, Deep Kalra never thought he would turn entrepreneur. “I was going to chase a professional career and if the internet hadn’t happened, I don’t think I would have started a company,” recalls the Founder and Chairman of online travel firm MakeMyTrip. In hindsight, one of the things he wishes his B-school had given him was more entrepreneurship courses and industry interactions. Being away from metro cities in Ahmedabad didn’t help. But what did help is the fact that a B-school, he says, provides one with a well-rounded education essential for any kind of career. The second thing is that it “gives you the requisite skills to tackle new situations that help you go down uncharted territories”, he adds.…

THE KEY TO BECOMING a self-reliant nation and achieving a $5-trillion GDP is to have a sizeable working population that has the right skills and education to add value to the economy. The productivity of a population can only increase its per capita GDP. To that end, constant learning, and skill-based learning, can arm the workforce with the right skills to deliver increased productivity. The Government of India’s National Education Policy (NEP) 2020 proposes to address the skill-gap issue right from the entry level of the education system where the objective is to increase the Gross Enrolment Ratio (GER) by 2030. The current GER of India is at 27 per cent, and the past 20 years of reforms in education—such as private universities and colleges—have only helped improve the percentage…

EDUCATION LOANS Secured education loans—from public and private banks, NBFCs and international lenders—are the cheapest source of funding Loans are available for MBA courses both in India and overseas Interest rates on education loans can be floating or fixed. The repayment tenure can usually go up to 15 years after a moratorium period of 6-12 months on completing the course Unlimited deduction on interest u/s 80E can be claimed SCHOLARSHIPS With no obligation to return the money, scholarships make the MBA course affordable Both Indian and international universities offer different types of scholarships Scholarships can be need-based, merit-based or based on achievements in extracurricular activities LOAN-SCHOLARSHIPS Some organisations offer loan-scholarships wherein the scholarship is provided as a loan The rate of interest is lower compared to education loans The amount…

Ranking is based on objective data only. Only those B-schools which submitted their objective data have been ranked. Institutes like IIM Kozhikode, ISB Hyderabad, etc., which did not submit their objective data on time or refused to participate, have not been ranked. Only those colleges that fulfilled the following criteria were considered eligible for participation in the ranking: i. Minimum three batches passed out; ii. Offering full-time Post Graduate Programme in Management. All scores have been rounded off to one decimal place; this may result in rounding off errors while adding the parameter-wise score. DNP = Did Not Participate…

Ranking is based on objective data only. Only those B-schools which submitted their objective data have been ranked. Institutes like IIM Kozhikode, ISB Hyderabad, considered eligible for participation in the ranking: i. Minimum three batches passed out; ii. Offering full-time Post Graduate Programme in Management. All score , etc., which did not submit their objective data on time or refused to participate, have not been ranked. Only those colleges that fulfilled the following criteria were es have been rounded off to one decimal place; this may result in rounding off errors while adding the parameter-wise score. DNP = Did Not Participate…

LOOKING TO WOO more subscribers who find its services too expensive, Netflix plans to charge $3 less for its subscriptions in a dozen countries from November and show four to five minutes of ads per hour of content. Although India does not feature in the list of countries where it is rolling out its “Basic with Ads” plan, its results for the July-September quarter show the average revenue per membership (ARM) from the APAC region that includes India has declined by 3 per cent over the past year to $8.34, partly driven by lower ARMs in India where it had to cut prices.…

State Bank of India (SBI) has surpassed ₹6 lakh crore in assets under management (AUM) for the home loan segment from the ₹5 lakh crore-mark it crossed in January 2021. SBI is the first bank in the country to achieve this feat. Moreover, when interest rates on home loans have been consistently rising, the bank has announced a festive bonanza where it is offering a concession of up to 0.25 per cent on home loans, 0.15 per cent on top-up loans, and 0.30 per cent on loans against property. It has also waived off the processing fees on home loans till January 31, 2023. Cheerful times, indeed!…

IN 1996, BPL, then a well-known Indian consumer durables brand, did something interesting. With the intention of driving home that it was as good as anything imported, it signed on Amitabh Bachchan as brand ambassador for a new campaign. Through print and television advertisements, it was the first time one would see the superstar playing this role. Twenty-five years on, Bachchan has been the face of an array of brands, including Cadbury Dairy Milk, Pepsi, ICICI Prudential, Emami (Navratna oil), Gujarat Tourism, Reid & Taylor, Dr Fixit, Dabur Chyawanprash and Kalyan Jewellers. The list is long and cuts across sectors. Even today, Bachchan is everywhere, endorsing several brands, despite the fact that he charges a not-so-small ₹5-8 crore per endorsement. Without a doubt, brand Bachchan is well and getting better…

(Ayurvedic and organic products for health and wellness) Year of launch 2019 Location Jammu Funded No Trigger Father’s condition of liver cirrhosis and how Ayurveda helped heal him GROWTH IN GMV • 2020 ₹40 lakh• 2021 ₹1.8 crore• 2022 ₹7 crore “Whatever successful funding I have seen in Jammu & Kashmir mostly has been from institutes [like IIT and IIM] through their incubation centres. There has been hardly any traction from angel investors or VCs”RIDHIMA ARORA (30) Founder, Namhya Foods…

“A B-SCHOOL EDUCATION has helped me a lot in life,” says 59-year-old Sanjeev Bikhchandani, Founder and Executive Vice Chairman of Info Edge, which owns job portal Naukri.com, matrimonial site jeevansathi.com, real estate portal 99acres.com and education portal shiksha.com. An alumnus of IIM Ahmedabad, Bikhchandani says his PGDM (Post Graduate Diploma in Management) not only provided him with knowledge and equipped him with various skills, but gave much more. “It instilled in me an attitude that helped me a lot later in life. Whether it is managing a very high workload, meeting deadlines or having a certain benchmark for excellence—these are intangible but they help you in life,” says the start-up investor. Bikhchandani, who also owns stakes in online food delivery platform Zomato and insurance marketplace Policybazaar.com, adds that while a B-school…

RAJIV SRIVATSA and his IIMB batchmate Ashish Goel disrupted India’s unorganised furniture retail market with UrbanLadder, a vertical e-commerce platform, in 2012, at a time when most players were chasing horizontal e-commerce a la Flipkart. Nearly eight years later, Srivatsa moved on to become a full-time venture capitalist at Antler India. Both his present and last role are a far cry from his maiden job as a software engineer in Infosys in 2000. A “cocooned” techie from Chennai, Srivatsa may have never become an entrepreneur if not for the two “best years” of his life at IIMB. “I was a very introverted and studious kid, and had never stayed outside Chennai. The moment I came to Bengaluru and interacted with people from different backgrounds and cultures, my exposure became larger,” says Srivatsa. After…

FLIPKART INTERNET Main founder Sachin Bansal Education B.Tech from IIT Delhi, 2005 Currently Chairman, Navi Finserve BYJU’S Main founder Byju Raveendran Education B.Tech from Government College of Engineering, Kannur, Kerala, 2000 Currently Founder, BYJU’S NYKAA E-RETAIL Main Founder Falguni Nayar Education MBA from IIM Ahmedabad, 1985 Currently Co-founder & CEO, Nykaa SWIGGY Main Founder: Sriharsha Majety Education: PGDM from IIM Calcutta, 2011 Currently Co-founder & CEO, Swiggy…

THE ADVENT of Covid-19 saw online learning platform Coursera clocking high growth, going from 47 million learners worldwide at the beginning of the pandemic to 77 million in just one year. Professionals acknowledged the need for upskilling and reskilling for better career prospects, with many management students and executives opting for a professional certificate along with a management degree, says CEO Jeff Maggioncalda. Edited excerpts from an interview: The last two years saw everyone investing in upskilling and reskilling themselves. Do you see this space changing with life returning to normal? This space has changed tremendously. And it’s going to be some kind of a new normal. What the pandemic did was it made virtually every campus in the world shut down. Now, what’s been interesting is that people are…

Name of the institute Shoolini University of Biotechnology & Management Sciences Institute type Private Location Solan, Himachal Pradesh Campus Spread across 50 acres, the campus is nestled in the mighty Himalayas with magnificent views Rank 91 Score 615.9/1,000 Placement performance 136.7/250 Mean average annual domestic salary ₹6.8 lakh per annum Course fee (for 2 years) ₹6 lakh Ratio of permanent to visiting faculty 19:14 “I was inspired by [late president] A.P.J. Abdul Kalam, who highlighted the lack of Indian universities in global rankings. So, I focussed on setting up a world-class facility here [in Solan]”P.K. KHOSLA FOUNDER & CHANCELLOR, SHOOLINI UNIVERSITY “We understood that traditional ways of placement are not going to work for us. So, we had to work on our product so that students are skilled enough to…

IN GENERAL, I have plenty of reasons to be more optimistic about management education in India. The good MBA institutes are spreading their wings like never before. Currently, we have 20 Indian Institutes of Management (IIMs) compared with seven about a decade ago. Similarly, the top B-schools in the country, such as SPJIMR, MDI, IIFT, IMI, IMT, NMIMS and Symbiosis, now have multiple campuses, and more intake capability. At the same time, many of the B-schools with poor infrastructure, weak pedagogy, [or those that] practically operate as glorified placement agencies are shutting down their institutes. All this would certainly help produce better quality of management graduates for the corporate sector, and should positively impact the economy as well. Post-pandemic, there is further renewed optimism about business education in India. At…

Ranking is based on objective data only. Only those B-schools which submitted their objective data have been ranked. Institutes like IIM Kozhikode, ISB Hyderabad, etc., which did not submit their objective data on time or refused to participate, have not been ranked. Only those colleges that fulfilled the following criteria were considered eligible for participation in the ranking: i. Minimum three batches passed out; ii. Offering full-time Post Graduate Programme in Management. All scores have been rounded off to one decimal place; this may result in rounding off errors while adding the parameter-wise score. DNP = Did Not Participate…

Ranking is based on objective data only. Only those B-schools which submitted their objective data have been ranked. Institutes like IIM Kozhikode, ISB Hyderabad, etc., which did not submit their objective data on time or refused to participate, have not been ranked. Only those colleges that fulfilled the following criteria were considered eligible for participation in the ranking: i. Minimum three batches passed out; ii. Offering full-time Post Graduate Programme in Management. All scores have been rounded off to one decimal place; this may result in rounding off errors while adding the parameter-wise score. DNP = Did Not Participate…

What was the problem that you were grappling with? When I was building the foundation of my career, I had myriad ideas, thoughts and plans. However, I realised early on that I needed to channelise my energy into an action-oriented, concrete plan. I was looking for a mentor who could help me in setting my direction. Who did you approach for advice and why? Being part of a close-knit family, we often discussed our dilemmas and plans during regular dinner conversations. My father, Hari Krishna Chaudhary, instilled the knowledge of business in me and encouraged and guided me. What was the advice you received? My father gave me simple yet profound advice. He said, “In a lifetime, one would probably meet and get to learn from 1 per cent of…

INDIA HAS THE potential to attract foreign direct investment flows to the tune of $475 billion in the next five years due to the government’s focus on reforms and economic growth, says a report prepared by the Confederation of Indian Industry (CII) and Ernst & Young (EY). The report further states that recognising the country’s consistent reforms, multinational companies see India as an emerging hub for manufacturing and digital transformation that is underpinned by a growing consumer market. The optimism is driven by both short-term as well as long-term prospects, it states.…

There are no limits to the EV ambitions of the Karnataka government. Its proposed EV hub will house 1,000 start-ups from the sector, Karnataka’s Electronics and IT Minister C.N. Ashwath Narayan announced recently. The government will set up five centres of excellence to facilitate training, research, development and entrepreneurship for the EV industry and it is ‘seriously considering’ launching production of eco-friendly hydrogen, Narayan said. Seems everyone is charged up! The proposed EV hub in Karnataka will house 1,000 start-ups from the sector, according to the state’s Electronics and IT Minister C.N. Ashwath Narayan…

(Door-to-door courier delivery service) Year of launch 2019 Location Srinagar Funded Yes, $130,000 (seed and pre-seed rounds) Trigger Locals unable to deliver goods and produce within the region and also across the country GROWTH IN GMV • FY22 ₹1.2 crore• FY23 ₹3.5 crore (estimated)• FY24 ₹7 crore (estimated) “Prior to abrogation of Article 370, connectivity and internet were major issues, though they have largely been addressed. Currently, getting skilled human resources and funding are the biggest pain points for start-ups in J&K”SHEIKH SAMI ULLAH (30) Co-founder, FastBeetle…

SERIAL ENTREPRENEUR K. Ganesh, known for his early successful bets on some of India’s most innovative internet companies, always wanted to do an MBA. For him, that was “a passport to a good high-paying job in the corporate sector”. Hailing from a middle-class family in Delhi, Ganesh saw his mother, a government servant, toil hard, and was sure that he didn’t want to get into that. “An MBA was the only way to guarantee a good job. The benefits of it are disproportionate,” he says. As a mechanical engineer, Ganesh worked on the shop floor of Tata Engineering and Locomotive Company (TELCO) in the early 1980s. It soon became clear to him that two years of management education would give him a 15-year head start. “There was a clear distinction between…

AN ALUMNUS OF the 1987-89 batch of IIM Calcutta, Sumant Sinha, Chairman and CEO of ReNew Power, credits his alma mater for providing him with a sense of purpose by motivating him to work on solutions that could help bring about a tangible, positive impact. “I recall having late-night chats with friends where we would all rack our brains on business ideas and what kind of revenues each business model could bring,” he says. One of three children of India’s former finance minister Yashwant Sinha, Sumant Sinha would dream of working for the benefit of the broader community while growing up. Later on, IIMC instilled in him the confidence to sail uncharted waters. After working with well-known brands like the Tata group, Citicorp Securities, ING Barings, Aditya Birla Group and Suzlon…

VINEETA SINGH made news as an IIMA grad in 2006, when she turned down a ₹1-crore job offer from Deutsche Bank. Back then, it was unheard of for global investment banks to offer associate-level roles to IIM freshers. The Deutsche Bank offer was, in fact, on par with those made to grads of global B-schools like Harvard. However, 23-year-old Singh, a self-confessed “fan” of Steve Jobs and Richard Branson in those days, stuck to her goal of becoming an entrepreneur. Sixteen years on, as one of the most promising internet entrepreneurs of the country today, she—along with her husband Kaushik Mukherjee—runs SUGAR Cosmetics, a D2C beauty brand valued upwards of $500 million. “I would never have had the guts to start up had it not been for my B-school education. I…

India produces more than 300,000 management graduates every year, per AICTE data. Master of Business Administration (MBA) is one of the most sought-after education programmes in the country. A degree from a good institute can land you a dream job with good perks and hefty packages, taking away a lot of future financial uncertainties. However, it comes at a cost. The average fee for a two-year management programme from an IIM (Indian Institute of Management) is around ₹25 lakh; it was ₹12 lakh in 2012-14. You or your parents may have savings, but given the galloping fees of B-schools, it might fall short. And if finances are not planned properly, the chances of getting an MBA degree from a coveted institute are slim. In such a situation, instead of emptying…

Ranking is based on objective data only. Only those B-schools which submitted their objective data have been ranked. Institutes like IIM Kozhikode, ISB Hyderabad, etc., which did not submit their objective data on time or refused to participate, have not been ranked. Only those colleges that fulfilled the following criteria were considered eligible for participation in the ranking: i. Minimum three batches passed out; ii. Offering full-time Post Graduate Programme in Management. All scores have been rounded off to one decimal place; this may result in rounding off errors while adding the parameterwise score. DNP = Did Not Participate…

Ranking is based on objective data only. Only those B-schools which submitted their objective data have been ranked. Institutes like IIM Kozhikode, ISB Hyderabad, etc., which did not submit their objective data on time or refused to participate, have not been ranked. Only those colleges that fulfilled the following criteria were considered eligible for participation in the ranking: i. Minimum three batches passed out; ii. Offering full-time Post Graduate Programme in Management. All scores have been rounded off to one decimal place; this may result in rounding off errors while adding the parameter-wise score. DNP = Did Not Participate…