Innholdsfortegnelse for 7 January 2024 i Business Today

If there was an award for the most number of pivots, twists and turns in strategy, e-commerce firm Snapdeal, founded by the duo of Kunal Bahl and Rohit Bansal, would qualify hands down. Starting out as a discount coupon venture back in 2007, Snapdeal then morphed into an e-commerce marketplace. It then went into a managed marketplace model and also attracted marquee investors, raising close to $1 billion in 2014. Mounting costs, a failed merger attempt and a shelved IPO later, Snapdeal is taking another shot at life, this time as a value commerce player. Investors and the e-commerce community are calling it Snapdeal’s ultimate pivot, in a sector known for pushing up players to dizzying heights only to be unforgiving in the manner in which they are brought crashing…

Hitachi in India: A Testament to Resilient Partnership A resounding testament to resilient public-private partnerships, collaborative co-creation, and a thriving ecosystem that fosters ease of doing business can be witnessed in the presence of Hitachi in India. For over nine decades, Hitachi has stood as an unwavering partner in India’s journey towards progress. As India embarks on the next phase of its global transformation, characterized by sustainability, resilience, and inclusivity, Hitachi India has positioned itself to play a pivotal role. The commitment lies in aligning its Social Innovation Business and deploying an array of Digital and Green technologies, along with innovation capabilities, to support India’s pursuit of global leadership while enriching the lives of its citizens across multiple domains encompassing Energy, Mobility, Payments, e-Education, and e-HeaIthcare. In the grand tapestry…

▶ SEVERAL THOUSAND CRORES and counting. That’s the feared business impact of Cyclone Michaung and the destruction it has left in its wake in Chennai, India’s fourth largest city and a crucial business centre. As the cyclone made its way to Andhra Pradesh, 45 cm of rain lashed the coastal city over a span of 36 hours on December 3 and 4, flooding streets, knocking out power, internet and telecom connectivity. The Tamil Nadu government has sought ₹7,033 crore as interim relief and ₹12,659 crore as long-term flood relief from the Centre. V. Vijayakumaran, Chairman of the Chennai Auto Ancillary Industrial Infrastructure Upgradation Company—in charge of maintenance of both the North and South Phases of Ambattur Industrial Estate—estimates a tentative impact of ₹2,000 crore because of the cyclone, though the exact…

Madhabi Puri Buch, 57, the first woman Chairperson of the Securities and Exchange Board of India (Sebi), has completed a little over two years at the capital markets regulator. Buch is the second non-bureaucrat in about two decades to head Sebi. In an exclusive interview with Business Today’s Sourav Majumdar at the BT Most Powerful Women in Business Awards, Buch talks about her journey, her passion for technology and data, women at the workplace and her agenda for the remainder of her term. Edited excerpts: Q: How would you describe your journey as the Chairperson of Sebi? A: The most important thing with respect to my position as the Chairperson of Sebi is that I had the benefit of being a part of Sebi one level lower, as a whole-time member. I…

1 There is a massive demand for expensive weight-loss drugs like Ozempic in India as people get more health conscious 2 The weight management market in India is likely to grow to ₹2,763 crore by 2028 from ₹1,514 crore in 2022, according to market research company IMARC Group 3 Novo Nordisk, Elli Lilly, Roche and Vivus are some of the major players in the global obesity drug market 4 Indian pharma companies such as Sun Pharma, Dr. Reddy’s, Torrent, and Zydus Cadila are developing antiobesity drug candidates in response to increasing demand…

EVERYBODY LOVES A gift. That’s the basic principle for businesses looking to build a customer base or entice existing customers into spending more. And it also holds true for elections in India, where political parties go all out to bring in votes by promising schemes and incentives that can run into a few thousand crores of rupees, if not more, that eventually come out of the taxpayers’ pockets. Not surprisingly then, the recent state elections saw promises of doles and new schemes flying thick and fast. From farm loan waivers and government jobs to free education, higher cooking gas subsidy, financial packages for women, laptops for college-going students and reverting to the Old Pension Scheme (OPS), political parties left no stone unturned in trying to win voters during the recent assembly…

DINING AT AIRPORTS can be a seriously pricey affair. A simple vada pav—that costs around ₹50 in an average outlet outside an airport—could potentially be found being sold at five times that price at ₹250 inside airports. If you decide to get it on the plane, the expenses multiply further. Smelling an opportunity, credit card providers were offering complimentary lounge access with some of their cards, making them more appealing for cardholders. For a nominal fee of just ₹1, cardholders could access and enjoy the luxurious buffet available in lounges across airports. This perk has swiftly become one of the most sought-after privileges associated with credit cards after the surge in air-travel post the Covid-19 pandemic. However, the situation is in a flux now. Long queues for entry into airport…

The Japanese ambassador to India, Hiroshi Suzuki, shared his thoughts on Japan’s special partnership with India, stating that the relations between the two countries are based on three pillars—political and security, economic and cultural and people-to-people exchange. Japan and India share fundamental values, freedom, democracy, rule of law and strategic relations. LEADERSHIP VISION The Japan-India partnership was drastically pushed forward by two visionary leaders, PM Abe and PM Modi. They really propelled our ties to a higher plane, in strategic as well as global aspects. ECONOMIC SECURITY There is a dire necessity to reduce our dependence on a particular country for our needs like semiconductors, critical minerals and emerging technology. Now, looking ahead, the main challenge that India and Japan should tackle together is to address economic security. INVESTMENT CLIMATE…

VARUN GUPTA, 33, travels frequently for work. But the Co-founder of home-grown wearables brand Boult makes it a point to also plan for weekend getaways during work trips—whether he is in Europe, the US or China. Of all the places he has explored till date, the Alps in Europe are his favourite. “It seamlessly combines everything I hold dear in my travels—from the intricate charm of historical architecture to the awe-inspiring beauty of nature. The European Alps, with their harmonious blend of artistic allure and breathtaking landscapes, have a way of enchanting every fibre of my being,” says Gupta, who also loves strumming the guitar. But more than architecture, the Alps provide the perfect playground for this adrenaline junkie. From thrilling ski runs to heart-pounding snowboarding adventures, the snow-covered slopes…

What was the problem you were grappling with? Working together as a team and fostering close relationships among employees has always been important to me. But there was a time when I hit a wall with a colleague. We just weren’t in sync. Despite agreeing on things, the follow through just wasn’t there. I tried, but it felt like we were stuck in the same spot. Whom did you approach for advice and why? I reached out to my manager, who’s more than just a boss to me. He’s incredibly sharp with business and someone I genuinely trust. His advice has always been spot on, both in and out of work situations. What was the advice you received? He told me to get into the trenches with my colleague and…

SOURCE MMRDA, PIB, MEDIA REPORTS 5 PER CENT The likely boost Maharashtra’s GSDP will get from this and associated projects; it is estimated to add 1 per cent to India’s GDP ₹ 17,843 CRORE Total amount (estimated) spent on the construction of the road bridge that will be used by over 70,000 vehicles every day 1 HOUR Likely reduction in travel time, apart from savings in fuel cost, that the bridge will enable for travellers between Mumbai and Navi Mumbai…

▶ AFTER GLOBAL HOSPITAL chain Aster DM Healthcare separated its India and GCC (Gulf Co-operation Council) businesses, it is looking to double down on the Indian market and plans now to expand into the north Indian market. The hospital chain’s presence is currently concentrated in south India, especially Kerala—six of its 19 Indian hospitals are located in the state. The company sees a substantial demand-supply gap in India’s healthcare sector, thanks in part to the country’s population, estimated at more than 1.4 billion. “In India, there exists a substantial demand-supply gap, particularly pronounced in the North and Northeast regions. The shortage of hospital beds is evident, with the organised sector having less than 100,000 beds, while the actual requirement is estimated to be ten times higher,” Dr Azad Moopen, Founder…

Academic Excellence Seema Kumar is truly an epitome of women power with excellence writ large on her visage. She grew up in a stimulating ambience of a cademic excellence where her father served as a professor and Head of the Department of Mathematics of a Post Graduate college. She is a Gold Medallist in M.Sc. (Physics) from Meerut University, and an M. Tech. from IIT/Delhi. Leadership Program from SDA Bocconi Institute/Milan, Italy and Leadership Management Executive Program from Indian Institute of Management/Bangalore are other trainings adding to the vast experience of Seema Kumar. Backed by such qualifications, her career was slated to be as exciting. Railway Career Seema Kumar has held several senior positions in various departments of the Indian Railways, including Divisional Railway Manager, Kota, Rajasthan, charge of the…

Despite the market’s single-digit growth since 2019, the launch of semaglutide (Rybelsus, the oral form of Ozempic) in January 2022 was a game changer The quick surge in demand may not be proportional with the increase in cases, but it may indicate a greater readiness to treat obesity The market has almost tripled in terms of value and doubled in terms of volume if one compares the MAT of November 2023 to MAT of 2021 The onset of chronic cardio-diabetic conditions at a younger age increases the duration of consumption of these drugs MAT (MOVING ANNUAL TOTAL) INDICATES TOTAL SALES FIGURES OF THE PREVIOUS 12 MONTHS SOURCE PHARMATRAC MAT NOV 23…

NOTE PICTURE FOR REPRESENTATION ONLY Political parties are trying to outdo each other in the run-up to the General Elections as they try to attract voters The recently concluded state elections saw parties including promises like farm loan waiver up to ₹2 lakh, subsidised LPG cylinders, and financial assistance to women in their election manifestos The Karnataka state Budget in July had an outlay of about ₹60,000 crore annually to implement its five poll promises Economists believe that genuine welfare measures can have an impact on development, but election freebies lead to higher public debt Often, it is the voter who has to foot the bill through higher taxes…

RECENTLY IN CHHATTISGARH, a Business Correspondent’s (BC) team faced a situation straight out of a Bollywood movie: a sprint for survival in a remote district—not from Maoists, but from a hostile tribal community wielding knives. After a two-hour-long trek across challenging terrain, the shocked young executives of the BC, which acts as an extended branch, reached the bank’s brick-and-mortar branch. The base branch was the closest physical link to 30-odd households spread across four isolated villages for last-mile delivery of cash withdrawals and deposits. The experience of these executives is emblematic of the financial illiteracy in the country’s far-flung areas that is still posing a challenge to financial inclusion. Forget about credit, insurance, or investment; the community was not forthcoming even for basic banking services. But this is not a…

India has to fulfil its commitments to cut emission intensity by 45 per cent by 2030, eventually paving the way for achieving the long-term goal of reaching net zero by 2070. And to strengthen the foundation, Union minister for power, an and renewable energy R.K. Singh said the country is expanding its footprint of energy generation via using solar and wind energies and building capacities and ecosystems for green hydrogen. Conventionally, Japan has remained interested in India’s push for renewables and has been investing in equities and sharing big-ticket technologies. Here, the minister throws light on India’s clean energy partnership with Japan, its commitment to cutting carbon emissions and expectations from the developed world. COMMON STRATEGIC INTEREST Japan is a close and valued partner. Our strategic interests coincide and we…

2007 Kunal Bahl and Rohit Bansal start Money-Saver, an offline, printed discount coupons venture 2010 MoneySaver buys Grabbon and rebrands as Snapdeal; cash crunch prompts a pivot to marketplace e-commerce 2011 Receives first significant venture capital cheque of $12 million from Nexus Venture Partners, and IndoUS Venture Partners 2014 Transitions to a managed marketplace model; raises close to $1 billion from marquee investors 2016 Valuation surges to $6.5 billion; lack of hybrid model limits control over quality, cost, and overall experience 2017 Costly rebranding; SoftBank writes down its investment; merger talks with Flipkart fall through 2021 Files documents for IPO to raise $165 million; plans offline foray and to focus on private labels 2022 Creates umbrella organisation, Ace-Vector Group; decides to withdraw IPO due to stock market downturn…

INDIAN PHARMACEUTICAL COMPANIES are hungry for the next frontier: drugs to fight obesity, a condition that has become the biggest worry for the urban well-off as they gorge on calorie-dense food (read: junk and fast food) and lead unhealthy lifestyles. Anti-obesity drugs are big business in the West, where obesity has reached epic proportions (according to the Global Obesity Observatory, 36.47 per cent of the US adult population is obese). As well-travelled Indians bring back the pills, Indian companies have scoped the business and want a share of the action. Indian pharma companies already have a spectrum of drugs to tackle diabetes and a clutch of other medical conditions that are linked to obesity. But they are looking at specific pills to fight obesity as people want such pills from…

CREDIT PENETRATION IS VERY LOW IN THE COUNTRY, AND CONCENTRATED IN THE TOP 10 STATES THE EASTERN, CENTRAL, AND NORTHEASTERN REGIONS HAVE LAGGED IN CREDIT FOR DECADES DESPITE THE PRADHAN MANTRI JAN DHAN YOJANA, RURAL AND SEMI-URBAN AREAS STILL HAVE A CASH ECONOMY CUSTOMISED PRODUCTS LIKE INSURANCE AND PENSION ARE NEEDED WITH A WEEKLY OR MONTHLY PREMIUM THE BUSINESS CORRESPONDENT (BC) MODEL, AIMED AT PROVIDING FINANCIAL SERVICES TO THE UNBANKED, HAS BECOME UNVIABLE AS PRICES HAVEN’T BEEN REVISED IN MORE THAN A DECADE NBFC-MFIs ARE CHARGING HIGH INTEREST RATES NEW SMALL FINANCE BANKS ARE VACATING THE MICRO-LOAN SPACE…

How many Indian companies can claim to have increased their manufacturing capacity 20-fold, or have Rs 50,000 crore in cash reserves? R. C. Bhargava says it’s only because of internal resource generation and the frugality of management. He feels Japan became the powerhouse it is now partly because of how industrialists handled worker-management relations. THE GREEN VEHICLE PUSH We need to use different technologies, keep changing our priorities as different technologies develop and find the most cost-effective method. We don’t quite have the mix right at the moment…. When we start production of electric vehicles in the next financial year, we will also start exporting EVs. ON HIS NEXT BOOK For many years now in Maruti, we have implemented thousands of suggestions from the workers to improve processes in the…