Innholdsfortegnelse for 18 February 2024 i Business Today

If one were to look at the past three decades, the last 10 years have seen some of the most fundamental changes to India’s economy. Whichever side of the political divide you may be on, it can be argued that the last decade has been instrumental in putting India firmly on the growth path—it is no accident that today, India is the fastest-growing major economy in the world. While the country took six decades to become a $1-trillion economy in 2007, current projections show that it will cross the $5-trillion mark by FY28, becoming the world’s third-largest economy. The aspiration is to hit $7 trillion by 2030. This momentum has been brought about by a few key factors—a big push on infrastructure spending by the government, a massive focus on…

Sathyabama Institute of Science and Technology, a deemed to be University, has completed 35 years since its inception in 1988. Could you highlight some defining milestones of this institution? Our institution attaining NAAC A++ grade, ABET recognition, Category I grade recognition from UGC, Consistent Placement record over the years, number of student startups we could able to produce due to consistent efforts in encouraging and developing innovation ecosystem through "SEED MONEY GRANTS" to the innovative ideas of our students. Receiving 5 crores grant to our Technology Incubation Centre, our institution becoming Mentor to other institutions in guiding innovation, startup journey are other remarkable achievements. Could you share some interesting anecdotes with the Founder Chancellor of Sathyabama, Dr.Jeppiaar, that have proven to be useful when you became chancellor of the institution?…

THERE IS A VAST runway for growth in India in the coming decades with several growth drivers. First, the country has an unfinished infrastructure agenda, which any economy of this size and aspiration needs to put in place. Today, every area of infrastructure in the country presents an opportunity for development, whether it is roads, ports, or airports. In the past decade alone, we have made significant progress in the telecommunications sector. However, apart from that, everything needs to be developed. This includes a substantial agenda on urban, city, village, and town rebuilding and rejuvenation, which is often not considered at all. To me, that is going to be a critical part of our growth story over the next five years and beyond. It will take 15-20 years to develop…

TEN YEARS OF the NDA government from 2014 to 2024 will see India grow from a nearly $2-trillion economy to $3.7 trillion—an absolute growth of 95% at 7% CAGR in dollar terms despite Covid-19. Per capita income is $2,600. In rupee terms, nominal GDP has grown from ₹113 lakh crore in FY14 to an estimated ₹302 lakh crore in FY24—an absolute growth of 167% at 10.3% CAGR, again despite the global recessionary effects of the pandemic. This is an outstanding achievement; this period has recorded the best growth in India’s economic history. The nation is now officially a Top 5 economy on track to become a Top 3 economy by the end of 2026. Highlights of the decade include transformative banking sector reforms, leading to low NPAs and clean balance…

AS WE STAND AT the threshold of a new era, the potential for transformative change in India is both palpable and promising. The next five years present a critical window of opportunity for our nation to shape its trajectory, and central to this vision must be the prioritisation of healthcare. As Chairman of Apollo Hospitals, I see a vision that extends beyond healthcare to encompass holistic well-being and progress. The trajectory of life expectancy in India from the 1960s to 2013 has undergone a remarkable transformation. Currently, an 80-year-old patient grappling with health issues stands a significantly improved chance of survival and a healthier life, owing to technological advancements in healthcare, the expertise of skilled clinicians, myriad therapeutic treatments and a comprehensive array of preventive health offerings and platforms. These…

The India story has come a long way since the economic reforms of the 1990s to now being the fastest-growing large economy globally, creating economic opportunities for hundreds of millions. But as a nation, it’s equally important for us to ensure that this growth story is sustainable and inclusive. The world has only five more years in its quest to reach the 17 Sustainable Development Goals (SDGs) by 2030. Interestingly, the United Nations General Assembly has proclaimed 2024–2033 as the International Decade of Sciences for Sustainable Development (IDSSD) and this should form the basis or foundation of collective action. Rooted in the 2030 Agenda, this decade seeks to harness a more effective and inclusive global approach to sustainability based on the synergistic cooperation of all sciences and all knowledge forms…

Against the uncertain global backdrop, India has been in the spotlight for being the fastest growing major economy. Foreign investors are acknowledging India’s growth prospects. India as an emerging market clearly stands out. In recent years, India’s economic growth has surpassed expectations. For instance, during the peak of Covid-19 in FY21, India’s GDP contracted by 6.6% compared to the estimate of a contraction of 9.5%. At the onset of Covid-19, the Reserve Bank of India (RBI) was proactive with its monetary easing and liquidity support. It needs to be commended for the host of measures it introduced. The gradual lifting of restrictions by states saw both demand and consumer confidence come back sharply from September 2020. Strong GDP growth has continued in the current fiscal with Q1 GDP increasing by…

INDIA’S SUCCESSFUL mission to the moon in 2023 is a reflection of its capabilities and aspirations. It is symbolic of the country’s potential and resilience—bouncing back from failures and aiming for higher goals. As the world watched, India demonstrated that its advancement in home-grown technology, engineering prowess, and will to succeed in spite of challenges is second to none. In a global environment beset with macroeconomic and geopolitical volatility, India remains a shining star and is firmly on a sustained growth path. We have enough reason to believe that it will remain so for the next five to six years and more. It is the fastest-growing large economy. Per current projections, the GDP could cross $7 trillion by 2030. India’s economy is now the fifth-largest in the world, and it…

WHAT IMAGERY of India would someone looking at it from afar in 1947 have conjured up for life in the country 77 years later? On many dimensions, much of what has been achieved would have appeared unrealistic, if not outright delusionary. That India survives as a working democracy, is the fifth-largest economy in the world, and has landed a spaceship on the south side of the moon would have seemed fanciful. That life expectancy had doubled to 70 years from the 32 years it was in 1947 would seem unbelievable. In fact, even drawing a Test match against England would have seemed like a dream and a movie like Gully Boy might have been listed under the fiction category about future Indian society on Netflix (if the platform had existed).…

SINCE 1947, A multitude of leading western observers doubted the ability of India—a multicultural and multilingual democracy—to survive. However, not only did we defy our sceptics in standing united and democratic to our core, but we also emerged as a global leader across aspects of multilateralism, science, technology, medicine and combating climate change. Today, it gives me immense pleasure to pen down my vision for India as we march towards our 100 years of Independence—Amrit Kaal. One of life’s mysteries is whether luck, skill or choices matter more for success. But wise child Calvin (of Hobbes fame) suggests, “The secret to success is being in the right place at the right time. But since you never know the right time, I find the right place and hang out.” India is…

IN THE PURSUIT of India 2029—a vision encompassing prosperity, progress, and inclusivity—the trajectory of the nation’s pharmaceutical and healthcare sector in the next five years holds profound significance. This period not only has implications for India but also resonates on the global pharmaceutical stage—with our status as the ‘pharmacy of the world’. Our steps forward, therefore, must be taken with the great responsibility we bear. It is crucial to recognise the dynamic nature of the industry, driven by a diverse range of players, fostering innovation amidst shifting consumer preferences and a rapidly changing healthcare landscape. Aligned with the macroeconomic growth trends and healthcare imperatives, the pharma industry is heading towards an ambition of $130 billion by 2030. This journey will unfold against the backdrop of three pivotal themes—transformative innovation, accelerated…

Speaking at this seminar, Chief Minister Shri Bhupendra Patel reaffirmed his government's commitment to the development and growth of the electric vehicle industry, emphasizing the importance of a robust charging infrastructure for the sector's success. He spoke about how the Gujarat government is proactively working to attract investors for electric vehicle manufacturing by encouraging research and development. Chief Minister invited business leaders, industry pioneers, and innovators present at the seminar to actively participate in Gujarat's electric vehicle ecosystem. He encouraged them to join hands in creating a sustainable, environmentally friendly, and economically viable future. Union Transport Minister, Shri Nitin Gadkari, shared his thoughts on how India can progress in the EV ecosystem and overcome challenges to become a global leader in the evolving EV ecosystem. Emphasizing the importance of adopting…

In his valedictory speech, Union Home and Cooperation Minister Shri Amit Shah said that while the first of Amrit Kaai and the 10th Vibrant Gujarat Global Summit in Gujarat has physically concluded, the resolutions made during this summit represent a remarkable achievement and empowerment. He noted that since the inaugural summit in 2003, it has strengthened the path of "Sankalp Thi Siddhi" (determination to accomplishment). Union Home Minister stated that today, India stands as the foremost choice globally for manufacturing and investment, with Gujarat being the preferred destination within India. Acknowledging the summit held in Gujarat under the leadership of Chief Minister Shri Bhupendra Patel as a grand success, Shri Amit Shah said, "Gujarat has become the gateway to 'Viksit Bharat: The participation of 4 heads of state, representatives from…

LIKE ALL FOUNDATIONAL TECHNOLOGIES, AI CAN BE USED FOR BOTH GOOD AND BAD. WHILE WE CANNOT ELIMINATE ALL RISKS RELATED TO AI, WE CAN MITIGATE THEM THERE ARE YEARS where decades happen, and 2023 seemed to be one of those. Especially in the world of the internet and technology. The year saw Generative AI (artificial intelligence), or GenAI, truly enter the public arena. Platforms allowed AI to go beyond computer labs and corporate confines and find utility in our everyday lives. Social media platforms, too, grew more integral to our daily existence. They are the new town squares and are also emerging as the new marketplaces, enabling entrepreneurs, both first-time and seasoned, to find increasingly larger audiences. This, of course, is besides the content creator boom that we’ve witnessed, which…

IN THE not-too-distant past, the prospect of private space companies might have seemed like stuff of dreams. However, we find ourselves at a transformative juncture in the space industry. The vast expanse of space has become a competitive arena, attracting a plethora of private ventures, both large and small, eager to explore its unfolding possibilities. As Arthur C. Clarke once observed, history often proves bold predictions, whether short- or long-term, to be comically conservative. Throughout history, dreamers have catalysed transformative shifts in areas influencing human existence. The ebb and flow of human imagination, coupled with courageous leaps of faith, have consistently elevated standards and facilitated remarkable achievements. The realm of space is no exception—mysterious, expansive, and rich with potential. By 2027, India is poised to become a $5-trillion economy, securing…

1 AI INTEGRATION FOR RISK MITIGATION: Insurers are looking to embrace AI and data analytics for better risk assessment, fraud detection, and personalised pricing strategies 2 INSURTECH DISRUPTION: Insurtech firms may continue to disrupt the market by addressing gaps in health coverage through innovative technology 3 CUSTOMER-CENTRICITY: Insurers are moving towards customisation, tailoring policies to individual preferences and behaviour 4 CLIMATE CHANGE COVERAGE: There could be an increase in demand for insurance products covering climate risks and natural disasters 5 CYBER INSURANCE: With an increase in cyber threats, there’s a rising demand for cybersecurity insurance to shield businesses and individuals from financial losses…

1 India is the third-largest carbon emitter. Carbon emissions in the country will peak between 2040 and 2045 before beginning a gradual fall 2 India is facing the critical challenge of reducing GHG emissions and transitioning to a low-carbon economy 3 India has been actively working towards achieving net zero by 2070 ever since it committed to it at COP26 in November 2021 4 As part of the 2023-24 Union Budget, $4.3 billion was allocated for priority capital investments towards energy transition initiatives, net-zero objectives, and energy security targets 5 India needs to integrate government policies, technical advances, financial incentives, and community involvement in the next five years to reach net zero…

Excellence is a standard that we set for ourselves. People who push the standards and evolve are the ones that get looked up as icons. Chandni Kapadia however, belongs to a different breed. Her joie de vivre is unmistakable. How else can you explain a woman who has passionately taken up various vocations in her career and excelled in each of them. Chandni Kapadia has comprehensively done everything that might be featured across the "to do" lists of ambitious professionals across the world. Her glorious career chart is nothing short of a fairy tale, without the presence of a fairy or the magic wand. A firm believer of manifestation of one's dreams, Chandni willed herself to work with the iconic Calvin Klien. The determination of the young woman took her…

Dr. Satya Vadlamani & Dr. Vijay K. Shastri established Murli Krishna Pharma Private Ltd. (MKPPL) in early 2004. This young and dynamic duo is pioneering NanoSphere Innovations in India, providing a range of effective solutions to optimize the delivery of pharmaceutical products. Nanospheres are a polymeric matrix of spherical shape that ranges in size between 10 and 200 nm in diameter. The drug is dissolved, entrapped, encapsulated, or attached to the matrix of polymers that are biodegradable and biocompatible. Nanospheres have small particle size making them suitable to oral administration, locally and systemically. They can penetrate the tissue and cell gap to reach the target organs. Moreover, attachment of the ligand on the surface of a sphere facilitates site-specific targeting. Reduced toxicity makes them more preferable for drug delivery. When…

The eyes they say are the window to the soul. Human beings have five senses (sight, touch, taste, smell and hearing) with the eyes giving us the ability to see. Many times, we take our eyes for granted and do not feel the need to take better care of them and this is where we need a great caretaker for our eye's health. Rendering this precious service has been the primary mission of Dr. Shweta Goel Founder of Vinod Eye Centre. Her expertise is in the diagnosis and management of eye Ailments and she has had wide recognition in medical circles and deep gratitude from patients. PATIENT'S TREATED 90,000+ Dr Shweta Goel has intense clinical & surgical training in ophthalmology. Her areas of specialization are Cataract, Glaucoma and Medical Retina. She…

SOME THINGS, THEY say, are made for each other. Like cricket and Indian fans; peanut butter and chocolate; or smartphones and social media. Now add one more to the mix—Snapchat and India’s young population. Asia is home to the world’s youngest population, while the core target for the multimedia messaging platform developed by Snap Inc. is the 13-34 age group; and India has a growing population in that particular demographic, and according to experts, is still an underpenetrated market in terms of social media. And India’s community of Snapchatters—those who use the platform—is growing. Snap, which had entered the country in 2019, announced last year that it had crossed the milestone of more than 200 million monthly active users. What is of note is that “almost all of that growth…

JUST OVER FOUR months after a gathering of the G20 nations shone the spotlight on a spruced up New Delhi, India was once again the focus at the annual greeting of the global elite at the World Economic Forum in Davos earlier this January. The government of India, some of the nations' biggest states, and top information technology companies dotted the promenade of the popular ski resort. Their dozen-odd booths vied for eyeballs with those from the Middle East, but it was hardly a contest. While Saudi Arabia's futuristic Neom real estate development dream set up one of the largest displays on the promenade, it was no match for the star power that India's Infosys managed to showcase by squeezing in no less than Bill Gates into a narrow booth…

AFTER HUFFING AND PUFFING, the much-touted merger between Culver Max Entertainment (Sony India) and Zee Entertainment Enterprises (Zee) was finally called off just a little over two years since it was announced amid fanfare. Had the deal gone through, it would have created a broadcasting major with 75 channels and two OTT platforms, with a strong presence in entertainment, sports and regional channels. Besides, there was limited overlap, making it a clear strategic fit. But the merger came up against many challenges along the way. The most prominent among them was an interim order by the Securities and Exchange Board of India (Sebi) last June that barred Essel Group Chairman Subhash Chandra and his son Punit Goenka from holding key managerial positions in Zee. Sebi accused them of having diverted…

IT IS CERTAINLY that time of the year or life of the government when you start looking forward, after looking back, and start engaging in conversations about what the future will look like based on the effort and progress made in the past 10 years. It’s a legitimate question, something that most Indians must ponder. Because, over the past 10 years, even the worst cynic on the planet will agree that India has certainly transformed in multiple ways. There is a new political culture that is visible—a culture of performance, one that delivers. There is a governance framework that is extremely visible. It’s responsive and connected to almost every citizen using technology and innovation. And there is ambition. And, therefore, under Prime Minister Narendra Modi, the nation is aspiring to…

ANCIENT INDIA HAD a significant and prosperous economy before the Industrial Revolution. India was famous for its contributions to mathematics, science, philosophy, and art. However, colonisation and the Industrial Revolution changed the global order, and India lost its preeminent position to the West. Since the start of the new millennium, India has been slowly but steadily rediscovering its old mojo. A resurgent India is making headlines around the world, shedding its ‘developing country’ tag and morphing into a global power. From its consistent average pace of economic growth to now becoming a global force in manufacturing and advancing in science and technology. We are today the world’s fifth-largest economy, having surpassed former colonial power Great Britain and also France, and we are on course to overtake Germany and Japan by…

THE ONGOING GLOBAL RESET IN POWER BALANCES POSES SEVERAL CHALLENGES FOR INDIA IN FOUR BROAD AREAS: DEMAND, CAPITAL, TECHNOLOGY, AND ENERGY OVER THE PAST four centuries, there has been a major reset in global power relations every 75 to 100 years. Now, 80 years after World War II, another major reset is due, given the shift in the world’s economic centre of gravity. The signs are clear: post-WWII institutions like the UN and the World Trade Organization are diminishing. Different forums are now used for seeking common ground, like the G20, BRICS+, APEC, etc. Bilateral trade pacts are emerging, as are new multi-lateral arrangements. If two hot wars, reigniting old territorial disputes (like between Venezuela and Guyana), were not signals enough, there are now drone attacks on ships within 200…

IT IS WIDELY acknowledged that this is India’s moment. There is a growing groundswell of opinion that India, over the next five years, would become the third-largest economy in the world and recent forecasts indicate that it could well be a $7-trillion economy by 2030. The bold climate commitments, including the net-zero goal, underline India’s response to the existential crisis of climate change and frequent extreme weather events that threaten to undermine progress. Thus, India is forging a new growth paradigm of a low carbon development model that is unique and unprecedented, posing challenges of a much higher order of magnitude compared to any of the growth models witnessed hitherto. While the challenges are many, we are at the cusp of an era that is full of opportunities. Favourable demographics,…

AT THE RECENT United Nations COP28 climate summit in Dubai, two terms took centre stage in discussions: mitigation and adaptation. The former refers to efforts made to decrease carbon emissions, urging nations to commit to reducing the release of greenhouse gases. The latter focusses on the adjustments that countries need to make to address these transformations. Though it has one of the lowest per capita CO2 emissions and energy consumption rates in the world, India has done remarkable work on both counts. Qatar has the highest CO2 emissions per capita at 36 tonnes per person; for the US, the figure is around 15 tonnes per person, while in India it is only 2 tonnes, much lower even than the world average of 5 tonnes. In simple terms, it means that…

Q When you took over as CMD (Addi. Charge) of NMDC in 2023, what were the challenges that needed your immediate attention to be addressed? At the outset of 2023, we had three key priorities - giving impetus to infrastructure that fuels the vision of 100 million tonnes by 2030, expanding our mineral and geographical footprint and commissioning NMDC Steel Limited. Setting the momentum for 50 million tonnes, the implementation of an all-inclusive Pricing Mechanism for iron ore, operationalization of the Kumar Marenga intermediary stockyard, and the achievement of the highest-ever 01, 02, 03 volumes in company history are crucial milestones of 2023 towards enhancing our production and evacuation infrastructure. This coupled with the new 'Works Organisation' at NMDC is focussed on completing projects in the pipeline towards building the…

INDIA TODAY OFFERS a confluence of economic growth, a vibrant consumption landscape, and a diverse workforce. The World Population Review, an independent organisation, estimates that about one in every six people on the planet live in India. What awaits us are opportunities to shape the future as we marshal new ideas with a resolve for a resilient and better tomorrow. The world continues to grapple with the widespread socioeconomic consequences of post-pandemic recovery, fluctuating commodity prices, geopolitical tensions, the conflagration in the Middle-east, and the climate emergency. Operating within this dynamic world, as organisations adroitly navigate the Black Swans and Grey Rhinos, I envisage the following opportunities that will set the agenda for the next five years. Evolving consumer needs India offers a rich tapestry of consumers—distinct, different, and varied—residing…

In the dynamic realm of education in India, Utkarsh Gupta stands as a catalyst, sparking a transformative and innovative revolution that extends far beyond conventional boundaries. As the visionary Managing Director of Ramagya Group, Gupta propels the institution into uncharted territories, viewing education not merely as a static pursuit but as a dynamic force that shapes the economic future of the nation. Ramagya Group have not only made a mark in the education industry but have also diversified into 20+ sister concerns, providing a comprehensive and holistic educational experience that embraces change and innovation. Recognizing the inseparable connection between a nation's development and the education of its youth, he envisions Ramagya Schools as dynamic hubs that go beyond traditional paradigms. Gupta's foresight is not limited to imparting knowledge; it encompasses…

AS WE EMBARK on 2024, India stands at the precipice of an economic renaissance, poised to surpass economic giants Japan and Germany by 2025 and breach the monumental $5-trillion GDP milestone. The Indian government’s ambitious projections have set the stage for a comprehensive growth trajectory, with key sectors emerging as the linchpins of this economic ascent. Setting the Stage for Growth A palpable air of optimism surrounds India’s economic landscape. Geopolitical shifts, a burgeoning youth demographic, and a strategic move away from China in global supply chains have converged with a slew of government incentives, creating a fertile ground for sectors such as manufacturing, infrastructure, housing, and logistics to thrive. Per S&P Global, India’s nominal GDP is expected to soar to $7.3 trillion by 2030 from $3.5 trillion in 2022.…

INDIA’S ECONOMY HAS witnessed substantial expansion and transition over the years, positioning the nation as one of the world’s fastest-growing economies. As we move ahead to 2029, it is crucial to identify the key agenda that will shape India’s economic trajectory for the next five years. The nation will envision a transformative path over the next five years, encompassing economic, social, and infrastructural dimensions. Here are a few facets of this vision that are poised for significant evolution. Accelerating Infrastructure Development Infrastructure development has always been a critical factor for economic growth. In the next five years, India needs to prioritise the development of robust infrastructure across various sectors. This involves boosting digital connectivity, enhancing transportation networks, and investing in energy and water infrastructure. Such efforts will not only create…

SINCE 1947, A multitude of leading western observers doubted the ability of India to survive. However, not only did we defy our sceptics in standing united and democratic to our core, but we also emerged as a global leader across aspects of multilateralism, science, technology, medicine and combating climate change. India is the world’s fastest-growing major economy, with a GDP growth rate of 7%, and is seen as a bright spot for global economic revival. The country is expected to continue this growth momentum to become the third-largest economy, with GDP of over $5 trillion, in the next three-four years. India’s 1.4 billion population has a median age of around 28 years, creating a unique demographic bounty that can drive both consumption and production, and become the world’s engine for…

As a part of the Vibrant Gujarat Global Summit 2024, the largest-ever 'Global Trade Show' was held in Gandhinagar, featuring 13 exhibition halls, each centered around diverse themes such as 'Make in Gujarat' and 'AatmaNirbhar Bharat, spread across a sprawling area of two lakh square meters. The trade show witnessed participation from 100 countries as visiting nations and 33 countries as partners. Over 1,000 exhibitors from the research sectors of 20 countries participated in this global trade show. The Prime Minister toured diverse pavilions, which encompassed the International Pavilion, E-Mobility, Atmanirbhar Gujarat, Smart Infrastructure, and Innovation Techade. The Prime Minister unveils an E-Coffee Table Book, along with Commemorative Coins and Commemorative Postal Stamps.…

Speaking at this seminar, Chief Minister Shri Bhupendra Patel stated that Gujarat can lead the nation towards a sustainable future, aligning with Prime Minister Shri Narendra Modi's vision of the three key pillars of green growth and energy transition. He highlighted Gujarat's commitment to the Prime Minister's threefold objectives: increasing renewable energy production, reducing reliance on fossil fuels in the economy, and transitioning towards a gas-based economy. Providing an overview of Gujarat's achievements in the renewable energy sector, the Chief Minister highlighted that the state, driven by the vision of the Prime Minister, has positioned itself as a frontrunner in renewable energy at the national level. Gujarat's contribution to the country's overall renewable energy capacity stands at 16 per cent. With an installed capacity of 11 GW in wind energy,…

Addressing the Semiconductor and Electronics Seminar on the second day of the tenth edition of the Vibrant Gujarat Summit, Chief Minister Shri Bhupendra Patel conveyed confidence in positioning Gujarat as a 'Global Destination for Semiconductor and Electronics Manufacturing' under the guidance of Prime Minister Shri Narendra Modi. In this context, he highlighted that Gujarat stands as the pioneer in the nation by being the first to announce a semiconductor policy. The rapid proliferation of technology across India is evident, with smart technology integration escalating in sectors such as health, agriculture, and logistics, impacting various facets of human life. The pervasive influence of the Internet of Things and Artificial Intelligence in daily life highlights the pivotal role played by semiconductor chips and electronic devices. Recognizing the global demand for a dependable…

THE REVIVAL OF the public-private partnership (PPP) model and mobilisation of private capital for infrastructure investments is one of the biggest imperatives for the government. Recent reports have highlighted that new orders from the National Highways Authority of India have dropped because the finance ministry has prevented it from raising further loans. There is a fear that this could seep into other sectors. With the rapid decline of private sector investments in infrastructure from 2012 onwards, the bulk of the country’s growth has been through public expenditure. But there will be a limit to this. Of the ₹20 lakh crore of investment envisaged under the National Infrastructure Pipeline (NIP), ₹10 lakh crore per annum is allocated from the Union Budget, while the balance ₹10 lakh crore comes from the states,…

STHANA BALA—is a Sanskrit phrase, which translates poorly to “positional strength” and relates to the influence a place has on a person. There has never been a time when the Sthana Bala of being an Indian in India has been stronger. A country has to get many things right to make its citizens feel this. Powered by GDP growth of 7.3%, India has one of the youngest populations. The demographic dividend that India has been enjoying since 2018 will last us 40 years. No other country of relevance can talk of this window of opportunity. However, historian Thomas Fuller talked about this in the 1600s and Covid-19 has shown us that “health is not valued till sickness comes”. Healthcare in India today is characterised by significant developments but yet there…

A person is the result of his experiences, they say. In Hemant Sood's case, add his courage to dream big and the untiring efforts he puts in. Success has not come easy to the Managing Director of Findoc lnvestmart Private Limited. No wonder that the first-generation entrepreneur and angel investor based out of Ludhiana is as simple and grounded as it gets. Hemant confesses, "From my early school days I was full of ideas and tried my hand at my things including investing in stocks. My fascination with numbers and interest in the stock market led me to become a sub-broker with Angel Broking". Gaining experience and understanding the markets, he ventured to launch his own company, Findoc Financial Services in 2012. Under Hemant's astute guidance, Findoc has emerged as…

Metamorphosis Unlimited, the Pune based company founded by Dr. Ajay Bakshi focuses on developing the leadership skills of the existing human resources, to enhance the value of the organization and plot its success. Ajay explains, "Creating a culture of high performance is all about driving accountability and ownership. This should result in growth that is scalable through processes, operational excellence and people. We work towards identifying the right leader internally as well as externally and strive to instill a culture of leadership in the organization:' A qualified Mechanical Engineer from MIT Manipal and an MBA from Pune University, Ajay is celebrated as a HR thought leader. An Ex CHRO, Board Director and Business Leader with 30 years of extensive experience in work force management, he is a veteran in transforming…

INDIA HAS BEEN the world’s fastest-growing major economy in the last two years, and the revolutionary growth is continuing. This is the best time for entrepreneurs to work on their dreams of building a brand and playing a part in the country’s growth story. There is every reason to strongly believe that the coming years will be the best ones. The economic research department of the State Bank of India has stated that India would become the third-largest economy in 2029. Brokerage Morgan Stanley expects robust domestic demand to keep the growth rate resilient, of course with the support of strong domestic fundamentals that reduce the economy’s vulnerability to external headwinds. Their 2024 India Economic Outlook further states that macro stability is likely to remain within the comfort range. The…

▸ Multimedia messaging platform Snapchat, which is targeted towards the 13-34 age group, recently hit 200 million monthly users in India, a country it entered in 2019 ▸ India’s vast young population works to the advantage of Snap, the company that developed Snapchat, and it has set its sights on attaining 500 million monthly users in India ▸ Experts say India as a market for social media is underpenetrated, and has high potential. Plus, its young population means that Snap’s next wave of users will come from markets like India ▸ Snap says its AR offering has immense value for advertising and e-commerce players as it will lead to a potential customer being able to ‘try on’ something before buying it ▸ The overall addressable market for Snap in India…

REVENUE GENERATORS COMPARED TO THE CORPORATION TAX OF A DECADE AGO, GST BRINGS IN MORE MONEY TO THE CENTRAL GOVERNMENT’S COFFERS NOTE: FIGURES INDICATE CATEGORIES-WISE CONTRIBUTION TO TOTAL TAX MOP-UP; *BUDGET ESTIMATE (BE) SOURCE CMIE ECONOMIC OUTLOOK FOCUS ON INVESTMENTS THE GOVERNMENT’S FOCUS ON CAPITAL EXPENDITURE HAS INCREASED SUBSTANTIALLY IN THE PAST 10 YEARS *BUDGET ESTIMATE SOURCE CMIE ECONOMIC OUTLOOK LOW ON SUBSIDIES WHILE CAPITAL EXPENDITURE HIT A RECORD HIGH OF ₹10 LAKH CRORE AFTER THE COVID-19 SHOCK, SUBSIDIES BEGAN TO DECLINE AGAIN #REVISED ESTIMATE, *BUDGET ESTIMATE SOURCE CMIE ECONOMIC OUTLOOK TOP PRIORITIES DEFENCE, PUBLIC DISTRIBUTION AND RURAL DEVELOPMENT HOLD KEY IMPORTANCE FOR THE MODI GOVERNMENT MINISTRY-WISE GOVERNMENT SPENDING IN THE PAST 10 YEARS; INCLUDES FY24 BUDGET ESTIMATE SOURCE CMIE ECONOMIC OUTLOOK QUITE A RIDE FROM FY15 TO FY24, INDIA’S…

▸ Dense fog in and around Delhi-NCR and lack of CAT III runways at IGI Airport severely impacted flight operations ▸ IndiGo, the largest player with 54% market share and more than 2,000 daily flights, had a larger share of delayed flights ▸ IndiGo and MIAL have been fined ₹1.2 crore and ₹90 lakh, while Air India has been fined ₹1.1 crore ▸ Lack of staff at airports, leading to poor coordination between airlines and management, is adding to passenger discontent, say experts ▸ P&W engine crisis has forced airlines to ground dozens of aircraft, while tight schedules are impacting training of pilots…

AS WE STEP INTO 2024, India envisions a future where it stands as a global leader on critical issues such as climate change, artificial intelligence (AI), manufacturing, and space exploration by 2029. The nation is not only striving to become the world’s third-largest economy but is doing so with a focus on sustainable progress and responsible global citizenship. The transformative journey is anchored in robust government policies that prioritise education, health, and infrastructure. Beyond the pursuit of economic supremacy, India’s vision extends to fostering harmonious global co-existence and making active contributions to addressing pressing global challenges. This commitment is reflected in a conscientious approach to policymaking, propelling economic growth while elevating the wellbeing of its citizens. Crafting tomorrow is not just about economic gains but also about setting a standard…

INDIA TOOK 60 YEARS to become a $1-trillion economy in 2007, reaching $2.7 trillion by 2018. In the decade spanning 2018 to 2028 it is poised to witness a remarkable transformation, with a projected doubling of its nominal GDP to $5.94 trillion by 2028, becoming the third-largest economy in the world. This translates to creating and adding one “new” India to the current one, presenting an unparalleled opportunity for investors and businesses to join this burgeoning economic miracle. Intrinsic to this is the pace of growth. By compounding at a high rate on a large base means that India is one of only three economies in the world that can generate more than $400 billion in annual economic output, which will rise to more than $500 billion from 2028. India’s…

INDIA’S JOURNEY over the next five years should be geared towards leveraging its strengths in innovation, infrastructure, and human capital to further strengthen its position as a leading global nation. Experts believe India will overtake economic giants, emerging as the world’s third-largest economy by 2030. However, for India to effectively leverage its multiple pillars of growth, a synergistic approach is necessary—one that intertwines scientific innovation with human capital with the development agenda while also streamlining processes for ease of doing business. Innovation India’s future will be marked by advancements in digital. The rapid advancements in artificial intelligence (AI), machine learning, blockchain technology, and data analytics are leading development in several key areas. This digital leap, driven by government initiatives and private sector dynamism, is transforming the business landscape and revolutionising…

IMAGINE AN ECONOMY where cash and plastic cards trail behind digital payments. This shift will not just impact India but the world too, as low-cost QR codes are increasingly becoming popular for payments compared with high-cost point of sale or POS terminals. And it’s not just this; there are other transformative reforms at play here in the ₹177-lakh crore financial services sector. The path-breaking Insolvency and Bankruptcy Code (IBC) is expected to be fine-tuned this year to ensure faster insolvency proceedings. Consider the significant release of funds this promises for banks, empowering them to reinvest those funds. There is also the new development financial institution (DFI), which is poised to infuse substantial funds in partnership with banks into the rapidly growing infrastructure sector. The financial services industry is on the…

INDIA HAS DISPLAYED exceptional economic stability in a year riddled with volatile commodity shocks and high global food prices. The government, along with the Reserve Bank of India (RBI), deserve plaudits for swift and proactive management of inflation. However, what gives strength to India’s economic ambitions is its consistent contribution to the global economy, especially in the aftermath of the Covid-19 pandemic. The country is currently the world’s second-largest manufacturer of a range of products, such as mobile phones, steel, cement, pharmaceuticals, and many more. The production-linked incentive (PLI) scheme has been a success for the Make in India initiative, and is expected to attract capex of around ₹1.96 lakh crore over the next few years. This is also reflected in the growth in the contribution of manufacturing to India’s…

WE ALL RELY ON global trade. And despite the many disruptions to the global trading system over the past few years—by conflict, climate change, the Covid-19 pandemic and lockdowns—countries are still remarkably interconnected. Recent research from the McKinsey Global Institute (MGI) shows that every region in the world relies on imports for more than 25% of at least one important type of good. Self-sufficiency is a mirage, and it ignores the benefits that this interconnectedness brings: improving efficiency, increasing global product availability, and fostering economic growth. India is no different. In fact, the country’s trade interconnectedness should be seen as a strength powering its growth in the next few years. These benefits come not just from trade connections but also from trade concentrations. We estimate that about 40% of global…

INDIA, WHICH SURPASSED China to become the most populous nation in the world last April, recently received some wonderful news. The country, which currently has a population of 1.4 billion but has struggled with unemployment for a long time, saw its unemployment rate decline to 3.2%, the lowest level in at least five years, per the Periodic Labour Force Survey (PLFS) 2022-23. Additionally, both the labour force participation rate and worker-population ratio have increased. More recent PLFS data for the July-September 2023 quarter also showed a similar picture with the unemployment rate in urban areas stagnant at 6.6% from a high of 12.6% in April-June 2022. “India does not have a jobs problem, but a wages problem,” says Manish Sabharwal, Co-founder & Vice Chairman of TeamLease Services, a leading staffing…

TODAY, WE STAND ON the threshold of a momentous era. India, the world’s fastest-growing major economy, is set to be a global powerhouse, and steel has been and will be the very backbone of this progress. Prime Minister Narendra Modi unveiled the road map for Viksit Bharat, envisioning India as a developed nation by 2047. With a focus on accelerating manufacturing and infrastructure growth, the next five years will be pivotal for the steel industry, driving India’s ascent towards a $5-trillion economy and beyond. This 100% recyclable material is increasingly becoming a key lever of manufacturing and infrastructure development, innovation, and technological advancements. With an output multiplier effect of nearly 1.4x on the gross domestic product (GDP) and an employment multiplier factor of 6.8x, steel contributes 2% to the country’s…

IN THE LAST decade, India has witnessed an unprecedented surge in the use of technology to access financial services and products. It has revolutionised the way we bank, invest, and manage money. Looking ahead into the new year, 2024 holds immense promise for the future of fintech. It marks the first step towards a five-year fintech agenda—a road map to transform financial services through innovation and inclusion. The Indian fintech market is experiencing explosive growth, with some estimates projecting $1 trillion in throughput and $200 billion in revenue over the next few years. This recent fintech surge is just the opening act of a transformative financial revolution. The digital rupee’s arrival, democratised wealth management, and a complete reshaping of financial services are on the horizon. There are several key drivers…

Speaking at this seminar, Vijay Shekhar Sharma, the founder and CEO of Paytm, a leading company in the digital payments space, described his experience of the digital revolution that has taken place in India under the leadership of Prime Minister Narendra Modi and the subsequent growth of startups working in the digital space. He added, "Prime Minister Narendra Modi said that if you are a part of a startup, you are not a person standing at the edge but the first person standing in the corporate ecosystem. It is due to his leadership that startups have become a way of life in the last ten years. In the last ten years, India has not only be-come the largest internet market but has also emerged as the largest English-speaking market:' He…

DATA PRIVACY AND SECURITY Implementation of the Digital Personal Data Protection Act (DPDPA), 2023 TECH INNOVATION HUB Strengthening data laws, streamlining bureaucratic processes, and offering incentives to foster innovation and support small tech enterprises BRIDGING THE DIGITAL DIVIDE Enhancing internet penetration, digital literacy, and tech-focussed education ONLINE GRIEVANCE MANAGEMENT Developing mechanisms to address online harms like cyber bullying and misinformation ETHICAL AI USE Ethical guidelines for AI can ensure transparency and address biases, especially in critical areas like law enforcement…

In 2007, Dr. Jehirul Islam discovered and realized the true potential of Assam's Agarwood in Dubai, where he was working. Often referred to as 'liquid gold; Agarwood's commercial value has captivated the Middle East and the Arab world for centuries, thanks to the precious oil it produces. He returned to Assam in 2008 to kick start a remarkable journey of research and development in Agarwood farming. Under Dr. Islam's efficient leadership, MJI Group has become a driving force in Agarwood cultivation in India. The company is committed to transparency, equal opportunities, and sustainable practices, introducing standardization and fair pricing in the Agarwood industry. As a facilitator of premium Dehnul Oudh and Agar Chips, MJI Group stands at the forefront, ensuring a seamless flow of trade while prioritizing diversity. As a…

Dr. Unmesh Vidyadhar Takalkar is the Chairman and Managing Director of the Chh. Sambhaji Nagar (Aurangabad) based Care Ciigma Hospitals. An MS in General Surgery, his professional qualifications include MEDS FUICC (Switzerland), FAIS, FIAGES, FACG, FASGE, AGAF and an MSSAT (USA). His domain expertise has ensured that he has fellowships from American Society for Gastrointestinal Endoscopy, Union of International Cancer Control, The Society for Surgery of Alimentary Tract and American Gastroenterological Association. He is also a Member of all leading National and International Associations for Gastroenterology, Digestive Surgery, Endo Surgeons, Colon & Rectal Surgeons of India, Endoscopic and Laparoscopic Surgeons, Surgical Oncology and Cancer Societies. Dr. Takalkar has performed over 1,50,000 procedures. He has trained over 50 post graduate students in Surgery and Endoscopic Procedures. A prolific writer and contributor,…

Dr. Monica B Sood, a physician, socio-economic analyst, and astute entrepreneur, has shared insightful perspectives on the shaping of India's future. According to her, a comprehensive agenda for 2029 should prioritize key areas. Her holistic vision encompasses social, economic, and healthcare reforms, providing a roadmap for a progressive and inclusive Bharat in the years to come. As India stands on the precipice of a new era, with elections looming on the horizon, the need for a meticulously crafted government agenda becomes ever more evident. This transformative vision is designed to tackle pressing issues head-on, propelling the nation towards an era of unprecedented progress. The following points delve deeper into the critical facets of this overarching agenda, each contributing to the holistic development of the country. 1. POPULATION CONTROL: Empowering Women…

In his white Celine shoes, Evan Spiegel looks every bit the successful young entrepreneur that he is. The 33-year-old Co-founder & CEO of the $4.6-billion Snap Inc. doesn’t pull any punches. Having made a name with the multimedia messaging app, his firm is now focussing on India. On a recent visit to India, Spiegel took time out to speak to Business Today’s Sourav Majumdar and Krishna Gopalan on AI, privacy, AR vs VR, and the road ahead. Edited excerpts: Q: You are in India at a time when there is a lot of activity. Do you like what you see? A: The Snapchat community is growing and we have over 200 million users in India. I understand that’s still a small number. So, I am excited about the opportunity and just…

REVIEW CES 2024 set the tone for what we can expect this year—a heavy dose of AI in our daily lives. Take, for example, flagship phones—Samsung’s Galaxy S24 Ultra, to be precise. The biggest differentiator from its predecessor, the S23 Ultra, lies in its AI capabilities. Called Galaxy AI, Samsung has collaborated with Google to introduce a range of AI capabilities. Other upgrades include a titanium frame (available only in the Ultra) and a 50MP camera with 5X zoom. Coming to its AI features, with ‘circle to search’, you can long-press the home button, circle a word or object, and the search results are overlaid on the same screen. While the camera on the S24 Ultra captures stunning images, Galaxy AI takes image editing up by a notch. For instance,…