Who’s driving the change?

The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.

Chirag Patil​​, MBA 2015-17​​,​ ​Vinod Gupta School of Management, IIT Kharagpur​
———————————————–

There was a time when only the old, big and rich companies having huge R&D capabilities brought about change in the world. Today is that changing?

Yesterday the Prime minister of India, Narendra Modi announced three year Tax holiday and Rs 10​,​000 ​c​rore ​f​und​s​ ​f​or Startups​ in India. Everyday we keep hearing more and more about startups in India. The perception of startups is changing drastically over the years.

Recently Siemens released a statement that they would look towards startups for innovation. Most recently a Bangalore based startup is driving the change in health sector wherein the cost of surgery was reduced to 10% with the help of 3D printing. Although such innovative startups are rare in our country, they don’t get as much media attention as the billion dollar e-commerce websites. I wonder if this trend is going to continue in the future? Would heavily funded companies which can fund huge research and development projects now look towards startups which are dependent on venture capitalist for driving the change?

Is this model sustainable in a country like India where most of the startups are e-commerce websites and not technological innovators.

Advertisements

WILL OIL PRICE GO UP?

The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.

NOOR MOHAMED M, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur

—————————————

One of the important essential of the world economy is oil. When the world economy restructured after major recession on 2008, oil price sharply increased in the market from 2009 to last quarter of 2014 and it sold at more than $100 per barrel and touched peak $147. According to data from U.S. Energy Information Administration, Short-Term Energy Outlook, December 2014. In the beginning of 2009, oil production and consumption was 84 and 82 million barrel per day respectively. Both reached 92 million barrel per day at the end of 2014 worldwide.

Demand consistently increases from US, European, China and other developing countries to develop the nation economy in the globalization and competitive environment. Oil is necessary for transportation and power generation. Huge demand of oil in the market paved way to explore more oils in worldwide. Major importers like USA and Russia started to utilize oil from their region. It cause production of surplus oil in the world market and minimized its price promptly.

OPEC (Organization of the Petroleum exporting countries) is major exporter of oil to the world and it has market share of around 42% of total production. It members includes Saudi, Iran, Iraq, Kuwait, UAE etc. The price fall affected the revenue of OPEC members. Countries like Saudi mostly belongs to oil trade are under tremendous pressure. Saudi’s budget deficit grown bigger and forced to issue bonds with maturities over 12 months for the first time in eight years.

OPEC members especially Iran urged to bring down oil production to upsurge oil price. When all OPEC members consider it, But Saudi refused. It has reason that it lost largest exporter tag to Iran on 1985 when followed similar decision during oil price down. Additionally, Iran is expected to increase its output by hundreds of thousand barrels a day this year if international sanctions on the country are lifted.

Moreover, Sunni dominated Saudi kingdom has cold relationship with Shite dominated Iran over long time. It peaked when Saudi executed 47 people including Shiite cleric leader Nimr al-nimr on January 2, 2016. It led to violent broken out and protesters attacked Saudi’s embassy at Tehran. Saudi enraged and led to break bilateral relations with Iran. Saudi ordered Iran’s officials to evacuate the country within 48 hours.

If Current scenario leads to war; it has high chance of increasing oil price. When both major exporters in trouble, Oil price may touch historic high.

Let-be or Let-go?

The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.

Abhiraman Goud G C L, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur

—————————————

The more discussed, the more controversial it gets. This is the most sensitive aspect of human “LIFE”. Should terminally ill patients live on ventilator? Few might opine yes while few might not. But I feel one shouldn’t give up on  life.

At a very first glance, it appears to be a simple thing to let one decide to live or die. But this goes against the very rule that committing a suicide is a crime. Despite the ailment, the hunger to survive can always make a difference. The presence of the person may make his family feel much better. If the financial status of the family comes into picture, then I would say nothing is precious than life.

Second, this might open a loop hole in the jurisdiction. There’s always a probability that this law, if introduced, can be misused.  Out of greed for money or fear of death, hospitals might end up creating such fake records for people and thereby turning out to be slaughterhouses for humans.

End of the day this  is my opinion. What I feel right might not be the same for others. Let’s see what step the Apex court takes.

Reference:

http://timesofindia.indiatimes.com/india/Should-terminally-ill-patients-live-on-ventilator-SC-asks-Centre/articleshow/50598295.cms

Does India have enough power to become next superpower?

The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.

Akhil Verma, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur

——————————————————————————

Electricity plays a major role in economic growth & social well being of a nation. If India has to achieve GDP growth of 8%, it is necessary to solve the issues in plaguing power sector. Also, with government promoting ‘Make in India’ at a global scale, it becomes all the more necessary to rectify problems in power sector. Let’s try to look at them one by one. Electricity supply chain can be divided into three parts:

  1. Generation: Major components of expense in power generation are fuel costs. Coal supply constraint must be sorted out as the thermal power generation is & will be the mainstay for generation in the coming years. While coal is by far the most important fuel in the energy mix, India’s recent climate pledge underlined the country’s commitment to a growing role for low-carbon sources of energy. For this, government must create a favorable climate for renewable energy.
  2. Transmission: State level transmission is a concern. This sector needs new capacity addition with generation picking up in the last few years.
  3. Distribution: This sector is the main leakage point with average technical & commercial losses as high as 30%. The focus of the government over the years has been on ramping generation capacity. The situation has become similar to a bucket with many holes. One can increase the flow of water by increasing generation capacity but as long as the holes are there in the bucket (distribution), it is not of much use. Problems in distribution sector include cross-subsidization by industries to agricultural & residential customers, power theft, metering etc. This has financially crippled the distribution network. Recent initiative by government such as UDAY (Ujwal Discom Assurance Yojna) scheme in November 2015 to ease the financial crunch faced by DISCOMs is a welcome step but it remains to be seen whether it is of much help or not.

The ball is clearly in government’s court. Careful supervision and political will is required so that the critical element to India’s development is not ignored.

—————————————————————————————————————————————

Reference:

http://indianpowersector.com/about/

All we need is a little finance

 

The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.

Aditya Soni, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur

———————————————

Too many people have too little an idea about finance. Why would they? The fact that it could not even find a place in our schools’ syllabus is enough to tell us about the importance we give to a tool everyone is sure to be affected by. A result of this neglect is blind criticism. Because people have little knowledge about finance it is often seen as a devil’s lair. Bubbles and busts, scandals, frauds, recession – the reasons to hate finance are many. Work in Goldman Sachs and the world promptly labels you as greedy, unconscionable and even promiscuous. I wonder why no one hates physics. After all, did it not lead to the invention of nuclear bomb?

The point is, few people realize that our lives have been made so easy as a result of some brilliant financial innovations. Imagine if no one had come up with the idea of a common paper currency. We would still be struggling with the barter system, stuck in the stone ages for an eternity. So where did the idea of paper currency come from? No, it was neither some brilliant economist nor a powerful king. As all financial tools have, this too had its birth amidst the common folk. Remember the time when gold was used as a measure of value? To buy anything you needed some set amount of gold coins. The problem was that there was no secure place to store the gold and as a result, theft was rampant. As a result, people sought to keep their gold with the goldsmith, who had a strong and reliable safe. The goldsmith, in turn issued a ‘receipt’ which could be shown later to withdraw the gold. The line scripted on that piece of paper still lives with us today- “I promise to pay the bearer the sum of x Rupees”

Imagine if lending was never invented. No one could buy a house or start a business if they did not have the required resources beforehand. Historical records tell us that Cattle were often lent to other members of the family and society. But why would people give away their wealth for others to use? For goodwill, initially. However, the creditors soon realized that the cattle were multiplying and the offspring were kept by the debtors themselves. It seemed almost as if a cost was being levied on the creditors for doing good. Therefore, now if someone lent 10 cattle, he wanted more than that after a fixed time period. This lead to the birth of interest rates.

In the 17th century, another innovation in Amsterdam, Netherlands changed the world as we know it. World’s first stock exchange, the Amsterdam Stock Exchange was founded in 1602 with the Dutch East India Company becoming the first to issue stock. The consequence of this innovation was that companies could now raise more capital than ever before which enabled them to operate at never-before-seen scales. The era of multinational behemoths had begun. People could now own a part of a company and have a share in its profits. They began to trade the piece of paper certifying their share in the company with each other and it gave rise to the price of that share. The price would go up and down with the performance of the company because that decided how much profits the shareholders were going to get. Soon, everyone in Europe realized the power of the stock market. The Dutch East India Company (traded as VOC) became the largest trading company in the world with a fleet of 4,785 ships. In contrast, its nearest competitor the British East India Company had only 2,690 ships and a mere one-fifth the tonnage capacity as VOC. The shareholders too made a killing as VOC paid an annual dividend of 18% for almost 200 years!

There are a number of other innovations in finance which have changed our lives for good- insurance, limited liability, futures and options, etc. These are just some examples of how wonderful inventions in finance are and how they have shaped the journey of mankind.

Now the question arises that aren’t these very innovations responsible for creating all the financial crises we faced? Let me ask a different question. Were the Wright brothers evil and wrong in inventing the airplane when MH370 happened? The point is, we cannot isolate the good from the bad. We need to take a holistic view and strive to make the system better. Will there ever be a perfect financial system? Of-course not, because finance is all about people and people are complex. As we evolve, so will finance and we need to ensure that it happens. So the next time you see a Goldman banker, think before you label her greedy or materialistic. She might be changing the world!

The Indian Brain Drain

The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.

Sujoy Nandy, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur


 

Indian American professor Dr. Rakesh K. Jain along with other 16 scientists, engineers, mathematicians, and innovators will receive the National Medals of Science and Technology and Innovation from President Mr Barrack Obama on coming Friday 22nd January 2016.

Mr Jain, a B.Tech. in Chemical Engineering from IIT Kanpur and a Professor at Harvard Medical School and director of tumour biology laboratory at Massachusetts General Hospital, will receive the National Medal of Science. Mr Jain is regarded as a pioneer in the area of tumour micro-environment and widely recognized for his seminal discoveries in tumour biology, drug delivery, in vivo imaging, bioengineering, and bench-to-bedside translation. This award recognizes those who have made lasting contribution to the American way of life and boosted its technological workforce.

This news gives us a feeling of pride for a moment but then we think for a while that what if this person has given his services to our country.  Wouldn’t this have made a difference to the Indian way of living and the Indian workforce?

Our country faces a lot of brain drain. Most of the skilled workforce which include doctors, engineers, scientists and technicians leave their motherland in search of better opportunities abroad. Our country has a large population to take care of and fewer good institutes to take care of higher education for everyone. The seats in top technical institutes like IITs and NITs are limited and hence good students who fail to secure a seat in these colleges don’t want to comprise and set out to foreign destinations in spite of higher costs.

What happens that most often the students get seduced by the good global exposure and high quality life and facilities and become reluctant to return back to India. It is quite natural that the skilled people would prefer US green cards and EU blue cards over the unattractive pay packages of a developing country like India. So India loses a large part of its skilled workforce every year.

It’s time for India to take action for this growing phenomenon. Government can make the emigrants sign bonds that after completing their education, they have to return back. In addition to this the government also needs to develop better colleges and opportunities for the skilled population. We all hope that in future we get to hear about more professors like Dr. Jain receiving awards for bringing a change in the life style of India.

References:

Obama to award Science Medal to Indian-American professor

http://www.studyabroad.careers360.com/brain-drain-boon-developed-countries-bane-india

‘Door’ darshan but a myopic vision….

The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.

Anshuman Mahanty, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur

—————————————

Stories, anecdotes and snippets galore about how some businesses continue to stand the test of time and disruption through a sheer transformational will to reinvent themselves and stay ahead of the times. But to say that one of the largest public service broadcasters in the world- the Doordarshan (DD) doesn’t feel too inspired by those stories is something I can bet my house on.

DD hasn’t gone totally out of the window though. It never will. The Prasar Bharti operates DD’s Freedish, a free DTH service offering 59 free-to-air channels. It is the largest DTH operator in the country reaching about 18 million homes. DD continues to be the television network with the maximum outreach within the country. To stay relevant to a small share of it’s audience which is online, DD has even updated the website. The website is in a much better shape than the absolute shamble it was previously in, and it even hosts a live streaming of the National channel. Sarkaari lingo reigns supreme even here though; which is why when you click on a link redirecting you to their Freedish service, instead of the channels list, they provide you with Governmental annexures and satellite information that no one cares about.

To put in bluntly, for people having a choice of channels, Doordarshan is not the preferred channel. The content is so woefully low on quality that people would rather sleep to a ‘No Signal’ sticker on their TV screens. The story of AIR is no different. Private radio channels have been able to attract listeners quite effortlessly. Even across other fields that have witnessed private participation after Government monopoly, services like the BSNL or the Indian Airlines have dismally failed to retain their customer base, due to their lackadaisical attitude.

For DD, the story wasn’t all gloomy though. India’s TV revolution started with a war. In 1990, Saddam Hussein’s army rolled into Kuwait, imperiling, among others, a million and a half working Indian migrants in the Gulf. This created huge demand for the war news in India, which Doordarshan, with its antique news bulletins, dominated my monsoon reports and the daily life of the Prime Minister, could not meet. This gave headway to rollicking cable TV entrepreneurs. Hundreds of small satellite dishes were set up in India to bring live coverage of the war to Indian homes via CNN. 1992 saw the launch of the first Hindi satellite station, Zee TV. Adding to the onslaught, the Doordarshan which previously used to charge the BCCI a fee to telecast cricket matches, a national passion-cum-pastime, had to now lock horns with a private broadcaster- the TWI in a bid to secure the rights of telecast.

Doordarshan emerged out of this initial competition fairly well. It focused on quality. Antique news bulletins gave way to investigate journalism programs such as the ‘Aankhon Dekhi’. A plethora of family shows and children’s entertainment shows gave DD the much-needed colour and vigour to appeal to the masses who now had a choice to switch. Cricket matches, live events and anything worthy of national recognition- DD continued to have them under their ambit well into the early 2000s.

Governmental intervention had to happen though. Every government, irrespective of the party in power, has treated Doordarshan as an in-house mouthpiece meant to be controlled. All the hunky-dory talk of financial and administrative autonomy is nothing more than a joke. For instance, it is said that during A.B. Vajpeyee’s NDA regime, the then I&B minister Pramod Mahajan had transferred a station director for not leading the evening news with the P.M.’s address earlier in the day. From recent memory, also recall the selective editing of one Narendra Modi interview prior to the 2014 elections, or the continuing trend of the live telecast of RSS’s Dussehra gathering following Modi’s rise to power.

Attempts to professionalise the news section have regularly been thwarted by the powers-in-charge. That explains why every experiment to have independent news reporting or better entertainment on India’s official broadcast network has flopped so far. Remember the stalled agreement with HFCL-Nine Broadcasting to privatise three hours of programming on DD Metro, a subsidiary channel, in 2000? Or even the DD Metro experiment itself?

So what can the Prasar Bharti do to get itself out of this mess? More importantly, how much of an initiative should the Government take to refurbish an ailing broadcast network? At a time when paid media rules the roost even in the private sector, a fair and robust media not pressured by favour, fear or finance should work as a gush of fresh wind to an audience sick of biases. An independent body of media professionals, creative directors, scriptwriters, and basically everyone having something or the other to do with television, should be constituted to review whatever goes on to the national channel.

Content is always king. It is through the power of content that old Doordarshan shows still linger on in the minds of those who grew up with DD. If DD has to revive itself even a slight bit, it will have to do so by generating content that is in line with the times. It has to strike a chord with the current generation that has grown up in times of even more choices that the preceding generations didn’t have. DD has to come out of the denial mode and stop playing the PSB (public service broadcaster) card to ignore competition with private players. It has to understand the changing market dynamics and brand itself as an infotainment provider through a rigorous marketing effort. But none of it would suffice without high quality content. It already has a huge advantage in having exclusive access in Government offices and unparalleled rich archives? Why can’t it leverage that? Or how about producing quality documentaries with an aim to strengthen national identity and culture? Say, a remake of Shyam Benegal’s famous Yatra series that covered the length and breadth of India through mesmerizing railway journeys?

Ideas are aplenty. DD can make a huge impact in the education segment. It can team up with institutes to provide educational content on television. Primary or secondary education, preparatory material for the IIT-JEE or the Civil Services, whatever it is.. why not use TV as a medium? I’m sure there are people willing to comply. Even for free (cite Unacademy).

As for that common bureaucratic question (or should I say excuse) of where the money and technology would come from, take a cue from the BBC. The BBC is the one of the most trusted sources of news and information not just in the UK but across the globe. Never has it’s position of eminence been massively challenged by private players. While a part of the reason behind it is that that it keeps the State at an arm’s length from itself, another part is that it is financially a giant. Every TV owner in the UK pays an annual licence fee, and this fee is the main source of income for the BBC. Over 70% of this licence fee is spent on high-quality programmes and on technology infrastructure, thereby giving the audience a ‘value-for-money’. What’s stopping the Prasar Bharti from embracing this BBC model that many other public service broadcasters have implemented to good benefit?

The Doordarshan has so much of content from the years gone by; reels and reels of programmes that a large section of the Indian audience currently in it’s 20s, 30s or beyond craves for. Barring a few small Youtube clips, these programmes are nowhere to be found on the internet. DD can either sell this material to willing private players or can come up with it’s own online platform to sell CDs/DVDs of these shows as well as archives ranging from films to old cricket matches. I’m sure there would be a large number of takers. This could be a source of revenue and a source of recognition alike. Who doesn’t like a win-win?

Lastly, in addition to the suggested appointment of an independent body that oversees content, DD also needs to undergo some basic structural reforms. According to a Sam Pitroda report for reform proposals, the Prasar Bharti is massively overstaffed; so much so that it has four times the number of employees than Zee but only one-fourth of what Zee earns as revenue.

To sum up, what’s that one thing this reform process warrants as an imperative? Will. Will of the babus sitting over at Prasar Bharti to remodel Doordarshan (and even AIR for that matter) and appeal to the lost audience all over again; and will of the political class to distance themselves from the public broadcaster. It is easier said than done but something that must be undertaken to not let the DD keep on being that old cassette that was once played at every family function but now lies dusted in a forlorn corner of the house.

References:

“Sam Pitroda Expert Committee on Prasar Bharati January 2014_-Vol_1” http://mib.nic.in/WriteReadData/documents/Sam_Pitroda_Expert_Committee_on_Prasar_Bharati_January_2014_-Vol_1.pdf
“Don’t Let Doordarshan Die”, G. Krishna Kumar (http://www.thehindubusinessline.com/opinion/dont-let-doordarshan-die/article4425191.ece)
James Astill’s “The Great Tamasha”, Wisden Sports Writing- Bloomsbury India

Strategic Debt Restructuring

The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.

Sameer Jain, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur.

——————————————————————————

Electrosteel Steels, the first company where the lenders applied RBI’s strategic debt restructuring (SDR) mechanism, is close to finalize the new owners of the company. The Electrosteel Steels’ board in December approved a debt of Rs 2507 crores out of total Rs 10985 crores to be converted into equity. This move will help the lenders work in the direction of minimizing the losses by changing the management of the company.

In June 2015 RBI introduced Strategic Debt Restructuring scheme, which will help banks to work in the direction of recovering their NPA (Non-Performing Assets). Non-Performing Assets are defined as “a debt obligation where the borrower has failed to pay any previously agreed upon interest and principal repayment to the designated lender for an extended period of time” (Source – www.invetopedia.com). As shown in the figure below the GNPA has been increasing since the past few years with a slowdown in GDP growth rate.

GNPA

The SDR scheme should help the banks to recover their loans and control this increase in the GNPA.

This scheme is formed on the general principle that restructuring should be done in such a way that the shareholders must be the first one to face the losses and not the lenders. By allowing to convert debt into equity this scheme compensates the lenders for their losses. Further there are some cases when even the above measure is not successful. There are cases when companies under its current management were not able to revive its condition. At such situation the Strategic Debt Restructuring helps bank to change the management of the defaulter company. This scheme is intended to be the next step when the Corporate Debt Restructuring and other mechanisms fail to achieve the goal.

This scheme can be enacted when the companies fail to achieve necessary milestones under Corporate Debt Restructuring. By enacting this scheme the lending banks may initiate the process of change in management by converting full or a part of debt into equity shares. Such decision of invoking SDR should be approved by the majority of the members of JFL (Joint Lenders’ Forum). In order to achieve the change in ownership the lenders under JFP must hold the majority of equity share after the conversion.

Further details in SDR scheme about the shareholding, share pricing, compliances, etc can be noted from the RBI’s notification of Strategic Debt Restructuring Scheme.

References –

http://www.business-standard.com/article/companies/bankers-finalise-new-owners-for-electrosteel-116012200068_1.html,

https://rbi.org.in/Scripts/NotificationUser.aspx?Id=9767

http://www.mondaq.com/india/x/426592/Financial+Restructuring/Strategic+Debt+Restructuring

https://www.pwc.in/assets/pdfs/publications/2014/growing-npas-in-banks.pdf

“Dreams come true if you believe in them…” – Google’s free high speed Wi-Fi at the Mumbai railway station is the proof.

The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.
Nallapuraju Adarsh Varma, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur.

—————————————————————————————–

The world is evolving continuously with the help of digitalization. It is said that “Dreams come true if you believe in them…” The Railway Minister Suresh Prabhu proved it by launching a free high-speed public Wi-Fi service in collaboration with the technology giant Google at Mumbai Central on Friday which is the first station in the country to get such facility.
The facility has been termed as “world class” and 100 busiest railway stations across the country will be provided with the Google Wi-Fi connectivity within one year making it the world’s largest project. The Railway Minister has also mentioned that his ministry along with the Google Wi-Fi is trying to ensure a better customer experience for all the travelers who prefer Indian Railways to travel.
Google CEO Sundar Pichai had first announced this project of providing Google’s free Wi-Fi at the railway stations in India when PM Modi had visited the Google campus in Mountain View, California in September. Under the project, Google plans to provide free and high-speed Wi-Fi access to railway passengers at over 400 stations in India.
While addressing a gathering comprising of the senior railway officials, Google executives and passengers at the suburban railway station, the Railway Minister Suresh Prabhu said that he had vowed to improve ailing condition of Indian Railway, and launching a free Wi-Fi at Mumbai Central Station is one giant step towards the improvement of the Indian Railways. He also mentioned that his government was trying hard to develop sustainable infrastructure and to improve the safety and security of the passengers and to bring a financial stability to the entity.
He said that “Bringing affordable Internet access to millions of people is an important part of making internet both easily accessible and useful for more than 300 million Indians who are already online, and the nearly one billion more who are not,”.
Google has partnered with Railtel Corporation to implement this project of providing the connectivity to the railway stations across country. Google has also mentioned in a statement that the next four stations where Wi-Fi facility is going to be provided soon are Allahabad, Patna, Jaipur and Ranchi.
With the implementation of a free Wi-Fi at the railway station is like making your dream come true in the real life.

It’s time “To count the number of Steve Jobs and Bill Gates born in India….”

The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.

Nallapuraju Adarsh Varma, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur.

 

It had always been said that India is a country with vast population but limited opportunities. Now the time has come for us to let everyone know that with the launch of Start-Up India Campaign we are second to none and this marks the beginning of Big Bang of innovation in India. The government has taken a step ahead to help emerge startups in India. The government has launched the Start-up India campaign addressing various topics like

  1. 21st Century Calling: Why is innovation important for India?
  2. “Fostering the spirit of Innovation.”
  3. Face to face with policy Makers – a Q&A session.
  4. “Freelancers and early stage startups: The Eco system required.”
  5. Unleashing Entrepreneurship and Innovation: What do Indian Startups Need to Grow and Prosper
  6. Celebrating Women: Stories of Innovative Women Entrepreneurs
  7. How digitization will change India’s future
  8. Making Indian Healthcare Leapfrog
  9. Financial inclusion is within reach

The Prime Minister Shri. Narendra Modi had addressed the nation during Start-Up India campaign by mentioning that “We have millions of problems. There is no denying that. But we also have a billion minds. And these billion minds will easily find the solutions to the millions of problems.”

To promote a culture of entrepreneurship, the government on 16/01/2016 had announced a slew of incentives including an Rs 10,000-crore corpus for innovation-driven enterprises, a three-year break from paying income tax on profits, an Rs 500-crore per year credit guarantee mechanism, and exemption from capital gains tax for start-ups.

Modi said that there is no need to blend intellectual property (IP) with youth property (YP) and also mentioned that the government will give 80 percent rebate in patent registration fees for start-ups compared to other companies. This will enable the bubbling entrepreneurs to take a step forward to implement their ideas and follow their dream. I would like to know if 320 million of American population contain great entrepreneurs like Steve Jobs and Bill Gates then 1.2 billion population of India should contain how many entrepreneurs?.

I am eager to see that with the development of the Start-up India, I feel assured that India will enter a golden age where many number of successful entrepreneurs will emerge and last but not the least thing to do is

“To count the number of Steve Jobs and Bill Gates born in India…