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classyfoxdestiny · 3 years ago

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Business News Live: Maruti Suzuki India to recall over 1.81 lakh cars

3:02 P.M.

U.S. funding tapped for Pacific undersea cable after China rebuffed

The Federated States of Micronesia will tap a U.S. funding facility to construct a Pacific undersea communications cable, after rejecting a Chinese company-led proposal that was deemed a security threat by U.S. officials, Reuters reported.

2:59 P.M.

Geely’s Volvo Cars warns on sales as supply woes dent output

Sweden-based automaker Volvo Car Group warned on Friday that sales volumes in the second half of 2021 could fall year-on-year after it was forced to cut production due to material shortages, Reuters reported.

The carmaker, owned by China’s Geely Holding, said sales fell 10.6% from a year ago in August, despite strong underlying demand, and cautioned the potential decline in volumes in the second half could impact revenue and profit.

2:54 P.M.

U.S. labor agency investigating two complaints from Apple workers

The U.S. National Labor Relations Board is investigating two cases filed by Apple Inc employees against the company, records on the agency’s website show, amid a wave of employee activism at a company known for its secretive culture.

Ashley Gjovik, a senior engineering program manager at Apple, filed an Aug. 26 charge, which cites harassment from a manager, reduction of responsibilities and increases in unfavorable work, among other complaints, Reuters reported.

2:48 P.M.

U.S. job growth seen slowing in August as Delta variant curbs services demand

U.S. employment growth likely pulled back in August after gaining nearly 2 million jobs in the past two months as soaring COVID-19 cases reduced demand for travel and entertainment, but the pace was probably enough to sustain the economic expansion.

Unemployment rate seen falling to 5.2% from 5.4%, Reuters reported.

2:33 P.M.

Deutsche Bank’s ESG Probe Triggers Review at Asset Managers

European asset managers are reviewing their ESG labeling and marketing claims following news of probes into the investing arm of Deutsche Bank AG, according to people close to the process, Bloomberg reported.

2:23 P.M.

Section of SpiceJet employees go on strike at Delhi airport over salary issues

A section of employees of SpiceJet airline went on strike at the Delhi airport on Friday morning over issues related to reduced salaries, PTI reported.

SpiceJet has been paying reduced salaries to a significant number of employees since 2020 as its finances have been hit due to COVID-19 pandemic-related travel restrictions. Other airlines have also cut the salaries since 2020 for the same reason.

2:15 P.M.

China’s SMIC to invest $8.87 bln for new chip plant in Shanghai

China’s Semiconductor Manufacturing International Corp will invest $8.87 billion to build a chip plant in Shanghai, it said on Friday, expanding capacity amid a global chip shortage as Beijing pushes to boost independence in the sector.

SMIC said it agreed to build a production line with monthly capacity of 100,000 12-inch wafers in the Lingang Free Trade Zone (FTZ) in the Pudong district of China’s business hub, Reuters reported.

2:12 P.M.

Tata Consumer Products rolls out new branding for Tata Soulfull range

Tata Consumer Products on Friday announced the rollout of new branding for the Tata Soulfull range of health and wellness food.

The company said it has integrated the Tata logo into the Soulfull portfolio, subsequent to Tata Consumer Soulfull Pvt Ltd becoming a 100% subsidiary of Tata Consumer Products in February 2021, PTI reported.

2:08 P.M.

Dollar hits one-month lows before payrolls test

The dollar sank to its lowest in almost a month against major rivals on Friday, ahead of a crucial U.S. jobs report that could spur the Federal Reserve to an earlier tapering of stimulus.

The dollar index was little changed at 92.227 after earlier touching 92.151 for the first time since Aug. 5, Reuters reported.

2:03 P.M.

Reliance aims at 100 GW renewable energy by 2030, bring hydrogen cost under $1: Ambani

Reliance Industries aims to generate at least 100 gigawatts of electricity from renewable sources by 2030, which can be converted into carbon-free green hydrogen, its chairman Mukesh Ambani said on Friday as he outlined a vision to bring down the cost of hydrogen to under $1 per 1 kg in 1 decade.

The focus on generating electricity from renewable sources of energy such as solar and wind will help cut carbon emissions in the world’s third-largest greenhouse gas emitter, PTI reported.

1:56 P.M.

Alibaba, Tencent Look Cheap Even With China Crackdown Risks, NYU Professor Says

Some of China’s bellwether Internet stocks are undervalued even as risks of further downside from Beijing’s regulatory clampdown persist, according to a finance professor at New York University.

Alibaba Group Holding Ltd. is the most undervalued by 12.7% compared to its fair value followed by Tencent Holdings Ltd. at 8%, PTI reported.

1:31 P.M.

Maruti Suzuki India to recall over 1.81 lakh cars

Maruti Suzuki India to proactively recall 181,754 units of some petrol variants of CIAZ, ERTIGA, VITARA BREZZA, S-CROSS AND XL6.

The automaker will inspect for a possible defect in these models manufactured between 4th May 2018 to 27th October,2020, PTI reported.

1:22 P.M.

Bharti’s rights issue credit positive for itself, neutral for Singtel: Moody’s

Bharti’s rights issue is credit positive for the company, said Moody’s Investors Service. It noted that the fresh capital would keep the leverage relatively stable amid 5G investments, ongoing cash payments for spectrum and settlement outgo related to AGR.

For Bharti’s 31.7% shareholder, Singapore Telecommunications (Singtel), the transaction is ‘credit neutral’, it said.

Bharti Airtel board had recently approved raising up to ₹21,000 crore by way of rights issue, at a price of ₹535 per share, PTI reported.

1:15 P.M.

Future Retail seeks an early hearing in the SC on its retail merger deal with Reliance

Future Retail Ltd Friday sought an early hearing in the Supreme Court on its fresh appeal against a recent Delhi High Court order which said it will implement an earlier direction restraining FRL from going ahead with its ₹24,731 crore merger deal with Reliance Retail.

Amazon and Future are having a legal tussle after the US e-commerce giant dragged Future Group to arbitration at Singapore International Arbitration Centre (SIAC) in October last year, arguing that FRL had violated their contract by entering into the deal with rival Reliance.

On March 18, a single judge bench of Justice J R Midha had imposed costs of ₹20 lakh on the Future Group and others associated with it and ordered attachment of their properties. The high court had asked the parties to file an affidavit detailing their assets within one month and show cause as to why they not be detained under civil prison, PTI reported.

Sensex and Nifty continued their record breaking streak, opening at fresh record highs with Sensex crossing 58,000 for the first time. Asian shares held onto their gains while Oil fell ahead of a highly anticipated U.S. monthly jobs report.

There was something to rejoice for the Indian economy as the IHS Markit Services Purchasing Managers’ Index rose to 56.7 in August, expanding at its fastest pace since March 2020 when the pandemic began.

HDFC Life Insurance said it will buy the life insurance unit of battery maker Exide Industries for ₹6,687 crore, and added that Exide Life will merge into HDFC Life after the acquisition. After the IPO of Indian firms attracted significant interest from the investors around the world, E-commerce retailer Snapdeal is also considering an initial public offering that could raise about $400 million, Bloomberg reported.

12:45 P.M.

Japanese shares hit 30-year highs as Suga offers to step down

Japanese shares soared with the broad Topix index hitting a 30-year high, after Prime Minister Yoshihide Suga offered to resign, Reuters reported.

The country’s Nikkei share average rose 2.04% while the broader Topix vaulted 1.61% to reach levels not seen since April 1991. For the week, the Nikkei gained 5.4%, the most since early November when Joe Biden won the U.S. presidential election.

“Japanese shares had badly underperformed in recent months despite very strong earnings recovery and the only reason I could think of was a sense of stagnation due to the government’s poor response to the pandemic,” Takashi Hiroki, chief strategist at Monex Securities told Reuters.

12:25 P.M.

Snapdeal considers $400 million IPO

E-commerce retailer Snapdeal is considering an initial public offering that could raise about $400 million, Bloomberg reported.

The company is speaking with advisers regarding a potential listing in Mumbai next year that could value it at as much as $2.5 billion.

Discussions are still at an early stage, and the firm could decide not to proceed with the plan. Bloomberg said representatives for Snapdeal and SoftBank declined to comment.

12:13 P.M.

Copper edges higher as dollar sinks ahead of U.S. jobs data

Industrial metals were mostly higher today, with copper’s advance putting it on track for a second straight weekly gain, as the dollar sank to its lowest in almost a month ahead of a crucial U.S. jobs data, according to a Reuters report.

Three-month copper on the London Metal Exchange was up 0.6% at $9,433.50 a tonne, while the most-traded October copper contract on the Shanghai Futures Exchange rose 1% to 69,500 yuan ($10,760.35) a tonne, the report noted.

12:02 P.M.

Tata Motors opens 70 new sales outlets in South India

Tata Motors today inaugurated 70 new sales outlets across South India in one go, as part of its retail acceleration strategy. Spread across 53 cities, the new outlets have been strategically mapped to key emerging markets of the Southern region, the company said.

The showrooms will be home to the company’s ‘New Forever’ range of passenger vehicles, including its electric vehicles portfolio.

With the addition of new showrooms, Tata Motors’ network in Southern India (Karnataka, Tamil Nadu, Pondicherry, Telangana, Andhra Pradesh and Kerala) will be 272 and the retail footprint in India will grow to 980, a PTI report noted.

11:50 A.M.

Reddit seeks to hire advisers for U.S. IPO

Reddit Inc, the operator of online message boards, is seeking to hire investment bankers and lawyers for an initial public offering (IPO) in New York, Reuters reported, citing two people familiar with the matter.

Reddit was valued at $10 billion in a private fundraising round last month. By the time the IPO takes place early next year, Reddit hopes it will be valued at more than $15 billion, according to the report.

11:10 A.M.

August service activity grows at fastest pace since pandemic began

India’s services industry in August expanded at its fastest pace since March 2020 when the pandemic began as businesses reopened and vaccination rates improved, Reuters reported citing a survey.

The IHS Markit Services Purchasing Managers’ Index rose to 56.7 in August, above the 50-level that indicates growth. PMI had been below 50 for three months and was 45.4 in July.

“The Indian service sector bounced back in August, led by the reopening of several establishments and improved client confidence due to growing vaccine coverage,” Polyanna De Lima, economics associate director at IHS Markit told Reuters.

“Service providers foresee a brighter outlook, with firms indicating that the economic recovery could be sustained if restrictions continue to be lifted and further waves of contamination can be avoided.”

11:00 A.M.

Indian companies’ foreign borrowing jumps 60% in July

Indian companies raised over $3.43 billion from foreign markets through external commercial borrowings (ECBs) in July this year, a jump of about 60% from a year ago, PTI reported citing RBI data.

Indian companies had borrowed $2.15 billion from overseas markets in July 2020.

Of the total borrowings during July 2021, $3.03 billion came in through the automatic route of the ECB, while $400 million was through the approval route.

10:45 A.M.

Sebi moves Supreme Court against SAT order on PNB Housing Finance

Markets regulator Sebi has approached the Supreme Court against the Securities Appellate Tribunal’s order related to the PNB Housing Finance’s ₹4,000 crore equity capital raise plan, PTI reported.

On August 9, the two-member bench of the Securities Appellate Tribunal (SAT) pronounced a split verdict, saying there was difference of opinion between the members of the bench. PNB Housing Finance is restrained by SAT from disclosing the voting results by the shareholders on the fund raise plan until further orders.

“It has been brought to our notice that SEBI has filed an appeal to the Supreme Court of India against the order of SAT,” PNB Housing Finance said in a regulatory filing.

10:15 A.M.

CEO, CFO of scam-hit Karvy arrested

Karvy Stock Broking Chief Executive Officer Rajiv Ranjan Singh, and Chief Financial Officer G. Krishna Hari of Karvy were arrested basing on a complaint by IndusInd bank for allegedly involving in diverting funds raised from banks by pledging clients’ securities as collaterals, PTI reported.

The police had earlier arrested Chairman C Parthasarathy, on charges of defaulting a loan to the tune of ₹137 crore to IndusInd Bank.

10:00 A.M.

HDFC Life Insurance to buy Exide Life

HDFC Life Insurance will buy the life insurance unit of battery maker Exide Industries for ₹6,687 crore, the company said in a regulatory filing.

As part of the deal, HDFC will issue 8.7 crore shares to Exide Industries at ₹685 per share and the remaining amount as a cash payout of ₹726 crore. Exide Life will merge into HDFC Life after the acquisition. .

“This is a landmark transaction, first of its kind, in the Indian life insurance space,” HDFC Life Chairman Deepak Parekh said in a statement. “It would enhance insurance penetration and further our purpose of providing financial protection to a wider customer base.”

9:30 A.M.

Sensex crosses 58,000 for first time

Indian benchmark equity indices continued their record breaking streak. Sensex and Nifty opened at fresh record high with Sensex hitting the 58,000 mark for the first time.

At 9:16 IST, Sensex was up 0.38% at 58070.12 while Nifty rose 0.36% to 17296.

9:15 A.M.

Oil falls before U.S jobs report

Oil prices fell before after strong overnight gains ahead of a highly anticipated U.S. monthly jobs report, Reuters reported.

U.S. West Texas Intermediate (WTI) crude futures slipped 0.3% to $69.75 a barrel while Brent Crude fell 0.2% to $72.90 a barrel.

The fall was likely due to traders squaring positions ahead of U.S non-farm payrolls report for August as there are concerns that consensus maybe weaker than forecasts, Stephen Innes, managing partner at SPI Asset Management told Rueters.

9:00 A.M.

Asian shares hold gains

Asian shares held onto their gains while global shares were at record highs, Reuters reported.

MSCI’s broadest index of Asia-Pacific shares outside Japan remained flat in early trading. Japan’s Nikkei rose 0.38%, Australia was up 0.3%, and Korea soared 0.61%.

Chinese blue chips fell 0.27% and Hong Kong was down 0.6%.

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thetaplowgroup · 4 years ago

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The global pandemic has seen businesses affected across every sector, in all parts of the world. Taplow partners across the globe have combined to give you the local and regional insights. Key Findings • Companies - Companies are struggling with fast changing and fluid local and countrywide Government regulations. These changes are likely to pick up speed over the next 3 to 6 months, particularly in the northern hemisphere as the winter approaches. • Executives - Once again Working from Home (WFH) is becoming the norm, many creative orientated teams are suffering through lack of interaction. Executives are also grappling with the fast-evolving government regulations. • Employees - Mental health and welfare issues are coming to the fore as government services deal with the pandemic. WFH also brings loneliness and anxiety issues to the fore. AFRICA According to a survey by the International Monetary Fund (IMF), Internet penetration in sub-Saharan Africa has grown tenfold, over the last 20 years. This means that sectors like ICT, finance and insurance, the public sector, education, and retail trade are indeed perfectly poised to grow swiftly as the pandemic drives digitization. South Africa The South African Government has confirmed another big bailout for the country's struggling national airline. Finance Minister Tito Mboweni said $640m (£492m) would enable South African Airways to implement a rescue plan. South Africa's President, Cyril Ramaphosa, has dismissed "alarmist rumours" about the country's possible return to stricter coronavirus regulations. The country has recorded a surge in Covid-19 infections over the last week, according to Health Minister Zweli Mkhize. GDP Growth Rate in South Africa averaged 2.11 percent from 1993 until 2020, and a record low of -51 percent in the second quarter of 2020. ASIA Asia is well placed for economic recovery compared to the rest of the world because mostly it has successfully contained the coronavirus, said Andrew Tilton, chief Asia economist at Goldman Sachs. Globally, he said momentum in the industrial sector remains good and he is “reasonably upbeat on the recovery going into 2021.” Australia Conditions in Australia continue to improve. In recent weeks, the major winter sporting codes held their finals competitions with crowd attendance. The various states in Australia are progressively easing restrictions on border crossings and interstate travel is becoming a reality again. A limited travel “bubble” has opened with New Zealand and positive discussions are being held regarding Singapore, Japan and Taiwan. Australia remains one of only nine countries around the world to hold a AAA credit rating from all three major credit rating agencies. Agriculture, mining, food, and fibre continue to provide export earnings for Australia while tourism is limited. The Australian Government’s “balance sheet was strong before the pandemic” and “Australia's economy is beginning to recover from its first recession in almost 30 years” and will according to the Australian Treasurer “rebound strongly once borders open”. There is still a long way to go in recovering from this health and economic crisis but the Australian economy is fighting back. Around 60 per cent of the 1.3 million people who lost their job or were stood down on zero hours in April are now back at work. For the next calendar year, the economy is forecasted to grow by 4.25 per cent, and unemployment to fall to 6.5 per cent by the June Quarter 2022. India India's economy picked up speed in September as a revival in demand and business activity helped drive the South Asian nation toward recovery from the pandemic-induced slump. India improved its ranking in World Bank's Doing Business Report by 14 spots over last year and was ranked 63 among 190 countries in the 2020 edition of the report. India's Foreign Direct Investment (FDI) equity inflow reached US$469.99 billion between April 2000 to March 2020, with maximum contribution from services, computer software and hardware, telecommunications, construction, trading, and automobiles. India adds 2,320 MW solar capacity in COVID-19-hit January-September period - From January to September, when the Covid pandemic disrupted the economy, India added 2,320 MW of solar energy power, official data indicates. Passenger vehicle sales, one of the key indicators of demand, rose 26.5 per cent in September from a year ago. Retail sales too showed signs of stabilizing, even though it was nearly 70 per cent below the year-ago level, according to ShopperTrak. US-based motorcycle manufacturer Harley-Davidson partnered with the country's largest two-wheeler manufacturer, Hero MotoCorp, to sell and service its products in the nation. Hero MotoCorp will produce and market a range of luxury motorcycles under the Harley-Davidson brand name as part of a licencing agreement. Tata Group to invest Rs5,000 crore to set up phone component plant for Apple in Tamil Nadu. Titan’s precision engineering division will provide expertise for project to be set up in Hosur industrial complex. The investment will be scaled up depending on the level of sourcing from the facility and could even touch Rs8,000 crore. Singapore Singapore’s unemployment rate rose to 3.6 per cent in September but at a slower rate compared to previous months, as the country reopened from a COVID-19-induced slowdown. The figures released on Friday (Oct 30) showed that the overall unemployment rate crept up by 0.2 percentage points from 3.4 per cent in August, which had already surpassed the record set during the global financial crisis in 2012. Officials warned that labour market conditions will stay soft amid the prolonged economic downturn. After more than 160 years in Singapore, Robinsons is closing its last two department stores at The Heeren and Raffles City Shopping Centre. This comes after several retail behemoths have announced store closures, both in and out of Singapore earlier this year. In April, Esprit announced it would close all 56 retail stores in Singapore, Malaysia, Taiwan, Hong Kong and Macau by the end of its financial year on Jun 30. In Singapore, the fashion retailer had 11 stores, including at ION Orchard, Paragon, Suntec City and Jewel Changi Airport. In October, H&M said it is planning to close hundreds of stores next year as COVID-19 crisis drove more shoppers online. Online shopping has become increasingly popular among consumers amid changing purchasing behaviour and COVID-19 restrictions. Demand for large-scale department store concepts has also weakened significantly, with official data showing a 35.3 per cent drop in retail sales at department stores in August. New Zealand The New Zealand Activity Index (NZAC) showed a recovery in September, with activity up 1.0% on September 2019. Most constituent indicators were above 2019 levels such as traffic movements, grid demand, and the performance of manufacturing index. Other indicators, such as business confidence and job advertisements, were still below last year’s levels. The number of people receiving income support (including the COVID-19 Income Relief Payment) had declined from August but was still high compared to September 2019. The NZIER Quarterly Survey of Business Opinion (QSBO) showed that business sentiment and activity indicators improved in the September quarter, reflecting a combination of fiscal support, pent-up demand, strong housing and construction activity and a pick-up in domestic tourism. NZIER report that the strong pipeline of Government construction work over the coming years is supporting a rebound in construction confidence, while services sector firms remain relatively cautious about the outlook, with a net 49% expecting worse outcomes ahead. Sentiment on the general business outlook has improved but remains deeply pessimistic with a net 39.4% of firms expecting the outlook to deteriorate. Employment expectations were positive, with net 10% of firms expecting more hires this quarter, and firms are experiencing increased difficulty in finding skilled labour. EUROPE The region’s predicted “2nd wave” of Covid19 is here as the winter starts. A number of key countries have announced either complete lockdown or regional lockdowns that will undoubtedly weaken the return to economic growth. The region is still several percentage points below pre Covid GDP. France The lockdown decided by the President came into force last Friday, October 30th, 2020 at 0:00 am. A containment intended to be more flexible than that of the spring. The head of Government, who justified the measures announced by the need to "face the violence of the second epidemic wave" of Covid-19, was accompanied by some of his ministers including Bruno Le Maire (economy) who detailed the business support plan estimated at €15 billion per month (€20 billion has been provided for in the amended finance law for 2020). New containment measures have forced the government to revise its GDP decline forecast for this year. The Minister of Economy indicated that the wealth produced in 2020 would fall by 11%. The problem is that the second wave of the epidemic and the new health measures will again have a negative impact on the end of the year. Bruno Le Maire said he thought that GDP would fall by 15% in November with the new containment. A slower pace than last spring when the GDP plunged by 30% during the two months of the first confinement but still impressive. French household consumption spending fell sharply in September after a small rise in August, due to a "significant drop" in purchases of manufactured goods and food. These expenses thus fell by 5.1% last month, after having risen by 2.2% in August. This decline in September was mainly due to a sharp drop (-6.8%) in purchases of manufactured goods, particularly textiles (-15.9% after +22.0% in August). The effects of the health and economic crisis are having a strong impact on the framework of labour market. The drop in recruitment could particularly affect young graduates, older workers and job-seeking managers. In the fourth quarter, companies could recruit between 37,000 and 47,000 managers, a volume that is however subject to caution given the uncertainties on the health front. Overall, over the year, the number of executive recruitments would be 30 to 40% lower than the record reached in 2019. The executive job market was experiencing steady growth and 281,300 executives were hired last year. The health and economic crisis have since changed this situation. Generally, more affected by episodes of crisis, young graduates find themselves in a more difficult position when senior managers in posts worry about their ability to bounce back if they lose their jobs. Jobseekers, on the other hand, face a major reduction in the number of jobs available on the managerial labour market. UK The UK Government has fragmented rules to the Covid19 2nd wave. Governments in Wales and Northern Ireland have instigated a “circuit breaker” complete lockdown. Scotland has introduced a regional lockdown and England is going into a month long lockdown as of 5th November. Recently there has been a levelling off of cases albeit from a high level. Government has instigated a range of support packages to try to stop mass redundancies. Currently unemployment stands at 4.5% but is predicted to climb to 8%+ by year-end. GDP growth fell by 20.4% in Q2 2020, it has recovered more than 50% of this loss. However growth is slowing and will be hampered by winter lockdowns. The service sector has seen the best recovery to date and manufacturing figures although fragile are in the positive. AMERICAS The Americas and particularly regions in USA are continuing to see uncertainty of the pandemic and elections create economic stagnation. Although the USA continues to show economic recovery, it is showing signs of slowing down and is not back to pre Covid levels. South America The continent is dealing with the pandemic from a weak economic base. Countries are adopting a variety of measures, but many are unable to effectively support businesses and this will no doubt lead to an increase in unemployment. Canada Canada has seen a partial lockdown in cities such as Toronto that has resulted in the number of cases reducing. The Canadian Government has a determined and focused program to significantly reduce the virus transmission. USA These last few weeks have been a mix of more opportunities and exceptional levels of competition on price and “showing leg”. We have had several new client initiatives, but none have yet signed a new agreement. Concern over hiring at the executive level during this period while layoffs are continuing is causing concern despite a perceived need to go forward on critical roles. In one recent case, our competition presented at least 10 prospective candidates with their proposal to prove they had a ready store of candidates. The client was not sophisticated enough to understand why that might be a problem. Others are just stalled as the fear is that income and earnings will be hurt further by recent market fluctuation. The national election is on November 3rd but if it is close there might be a legally contested outcome delaying the final result. President Trump has been very vocal about that. Normally a level of uncertainty in the world can help us to close deals. In this case, that is not happening and as our national leader chooses to exacerbate the impact of the virus and has issued rules impacting our health care and made a very controversial appointment to our Supreme Court causing even more uncertainty and disruption. We expect the softness and uncertainty to continue. We hope that you, your family, and work colleagues continue to stay healthy and safe. We at The Taplow Group are here to support you and your business through this crisis. We will be back with another update soon.

#pandemic business #taplow group

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thenishaworld · 5 years ago

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Indian Semiconductor Market

Indian Semiconductor Market is expected to reach US$ XX Bn by 2026 at a CAGR of XX% over the period 2019-2026.

The key drivers for the semiconductor market in India include rising demand for consumer electronics, growing automotive semiconductor market, telecom infrastructure equipment, wireless handsets, notebooks and IT automation products, set-top boxes and smart cards. Booming the Indian Semiconductor Market. Internet of things (IoT) market, Heavy investments in New Product Development and R&D also driving the market in positive direction.

Growth sectors, including health care equipment, automotive, consumer goods and industrial goods, all of which progressively use electronics are expected to encourage the semiconductor consumption in India by maintaining the anticipated CAGR of XX.XX% and reach to US$ XX.XX Mn by forecast period.

With the location of a wafer fab in India, the country could achieve a level of independence in electronics, and partly cut back the very high supply chain risks that the country is exposed to, without an alternative source for procurement. India is heavily dependent for semiconductor chip imports on Asian countries such as China, Taiwan, South Korea and Japan, although electronic manufacturing service companies in India have reached considerable maturity for final assembly, testing, packaging and distribution services. Chinese and Taiwanese companies compared to western players, are making the major contribution in Indian domestic semiconductor market.

The Indian Semiconductor Market dynamics are thoroughly studied and explained in the report, which helps reader to understand emerging market trends, drivers, restraints, opportunities, and challenges at regional & state level for the Indian Semiconductor Market.

Indian Semiconductor Market is studied by Various Segments:

The report from Maximize market research provides the detail study of the market by various segments. Report segments Indian Semiconductor market by Material Type, Component, Fabrication Technologies, Organization Type and End-User Industries. As per government of India Task Force report (DeitY) gross size of the electronics industry is evaluated at about US$ 1.9 trillion and is anticipated to reach US$ XX.XX trillion by 2027 with the anticipated CAGR of XX.XX%.

Key Developments in the Indian Semiconductor Market:

The ministry of electronics and information technology (MeitY) is revising its policy framework towards making India a global semiconductor hub, which will see the government taking a more active role, including initial investment, in a bid to attract private sector players. The existing policy has not worked as it offered little commercial viability for the private sector. Earlier, a Jaypee-led consortium pulled out midway from a project for setting up of a semiconductor wafer fabrication manufacturing facility. Recently, another consortium, led by Hindustan Semiconductor Manufacturing Corporation (HSMC) including ST Microelectronics and Silterra Malaysia, which had also received approval to set up a fab unit, has been facing challenges in tying up the funding.

The two projects were worth US$ XX.XX Mn. Still, India has a competitive advantage over other countries because of its large engineering skill pool. It offers a large pool of a technically and scientifically-skilled workforce. At the same time, the country has ample semiconductor design talent at competitive costs.

Indian Semiconductor Market: Competition Landscape

The Indian Semiconductor Market has the presence of a large number of players. Major players in the Indian Semiconductor Market are concentrating on developing new technologies to facilitate the industry with lowest time and low expenditure consuming technologies. In the recent years there are many discoveries in the field of technologies with regards to Indian Semiconductor Market, which in turn will help the industry to grow resulting in boost to the competition too. Detailed analysis of competition, new entrants, strategic alliances, mergers and acquisition in the Indian Semiconductor Market is covered in the report.

The report covers the market leaders and followers in the industry with the market dynamics by region. It will also help to understand the position of each player in the market by region, by segment with their expansion plans, R&D expenditure and organic & in-organic growth strategies. Long term association, strategic alliances, supply chain agreement and mergers & acquisition activities are covered in the report in detail from 2014 to 2019. Expected alliances and agreement in forecast period will give future course of action in the market to the readers. All major & important players are profiled, benchmarked in the report on different parameters that will help reader to gain insight about the market in minimum time.

Objective of the Report:

The objective of the report is to present a comprehensive analysis of Indian Semiconductor Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report.

External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Indian Semiconductor Market dynamics, structure by analyzing the market segments and project the Indian Semiconductor Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Indian Semiconductor Market make the report investor’s guide.

For more information to visit : https://www.maximizemarketresearch.com/market-report/indian-semiconductor-market/14504/

Scope of the Indian Semiconductor Market

Indian Semiconductor Market, by Material

• Silicon

• Germenuim

• Carbon

• Tin

• Others

Indian Semiconductor Market, by Fabrication Technologies

• Metalorganic vapour phase epitaxy (MOVPE)

• Molecular beam epitaxy (MBE)

• Hydride vapour phase epitaxy (HVPE)

• Liquid phase epitaxy (LPE)

• Metal-organic molecular beam epitaxy (MOMBE)

• Atomic layer deposition (ALD)

Indian Semiconductor Market, by Component

• IC

 IC Design

 IC Manufacturing

 IC Packaging and Testing

• O-S-D

Indian Semiconductor Market, by Organisation Type

• Large Enterprises

• SMEs

Indian Semiconductor Market, by End User Industry

• Electronics

• Telecommunication

• Information & Technology

• Data Processing

• Automotive

• Industrial Machinary

• Consumer

• Others

Key Players in Indian Semiconductor Market

NXP Semiconductors

Cisco Systems (India) Pvt. Ltd.

Adroit IC Design

Ineda Systems

Semiconductors India Pvt. Ltd.

Cadence Design Systems (India) Pvt. Ltd.

D’GIPRO Systems Pvt. Ltd.

DCM Data Systems Ltd.

Digital-X (India) Pvt Ltd.

HCL Technologies India Pvt. Ltd.

HiQ Networks (India) Pvt. Ltd.

IBM Global Services India Pvt. Ltd.

IKOS India Pvt. Ltd.

Silicon Automation Systems (India) Pvt. Ltd. (SASI)

Sand Microelctronics (I) Pvt Ltd

Silicon Interfaces

Smart Modular Tech.

Spike Technologies (India) Pvt.Ltd.

Shonk Technologies ltd

Semiconductor Complex Ltd.

Tata Elxsi Ltd.

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iasshikshalove · 5 years ago

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Detailed News Articles: 4 July 2019

July 4, 2019Shiksha IAS Academy

1. 27% of children with disabilities have never been to school: UNESCO

Commissioned by the UNESCO, the Tata Institute of Social Sciences has prepared the report titled State of the Education Report for India 2019: Children with Disabilities.

Findings of the report:

· Nearly three-fourths of five-year-old children and one-fourths of kids aged between 5 and 19 with disabilities in India are out of school.

· Analysis of the current situation indicated that an estimated 7.8 million children aged under 19 lived with disabilities in India.

· Only 61 per cent of CWDs aged between 5 and 19 were attending an educational institution compared to the overall figure of 71 per cent when all children are considered. About 12% had dropped out, while 27% had never been to school at all.

· The number of children enrolled in school drops significantly with each successive level of schooling and that there are fewer girls with disabilities in schools than boys.

· Large number of children with disabilities do not go to regular schools but are enrolled at the National Institute of Open Schooling (NIOS).

Details:

· National estimates of the proportion of the population with disabilities is much lower than international estimates leading to questions about the disability measures used In the census.

· The report talks in detail about challenges such as inadequate allocations, delays in releasing funds and under-utilisation of allocation.

· Inclusive education (IE), wherein children with disabilities go to mainstream schools rather than special schools, under the Centre’s Sarva Shiksha Abhiyan (SSA) continues to remain a distant dream.

· The report, called for policy interventions to improve the situation.

Way forward:

· The vision of an inclusive and non-discriminatory education system for children with disabilities has to explicitly state the need for focusing on the education of girls with disabilities.

· The attitude of parents and teachers towards including CWDs into mainstream education is also crucial to accomplish the goal of inclusive education besides accessibility to physical infrastructure, processes in the school, assistive and ICT technology and devices being essential resources.

· The Right to Education Act mandates enrolment, but not the provision of resources needed for the actual education of a child with disabilities. The report recommended amending the Right To Education (RTE) Act to better align with the Right of Persons with Disabilities (RPWD) Act by including specific concerns of education of such children.

· Further measures are needed to ensure quality education for every child to achieve the goals and targets of agenda 2030 and more specifically Sustainable Development Goal 4 (Quality Education).

2. PMLA and IBC do not overlap

The National Company Law Appellate Tribunal (NCLAT) has said that the Prevention of Money Laundering Act (PMLA), 2002 gets invoked simultaneously with the Insolvency and Bankruptcy Code and that neither of the laws has an overriding effect over the other.

Prevention of Money Laundering Act:

· The Prevention of Money Laundering Act of 2002 provides for the prevention of money laundering and the confiscation of property earned by engaging in money laundering.

· This act makes it obligatory for banks and other financial institutions including intermediaries to verify the identity of their customers, and maintain records and supply information as prescribed to the Financial Intelligence Unit – India.

· The Prevention of Money Laundering Act was amended in 2005, 2009 and 2012.

· Further amendments have been made through the Finance Act 2018 which have widened the scope of the act and augmented its effectiveness.

Insolvency and Bankruptcy Code:

· The Insolvency and Bankruptcy Code, 2016 (IBC) is the bankruptcy law of India which seeks to consolidate the existing framework by creating a single law for insolvency and bankruptcy.

· This was enacted for reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximization of the value of assets of such persons.

Details:

· The observation was made in a case relating to Rotomac Global Private Limited.

· Bank of Baroda had initiated insolvency proceedings against Rotomac and since the resolution process did not attract any viable and feasible resolution plan, National Company Law Tribunal, Allahabad had ordered liquidation.

· Meanwhile, the Directorate of Enforcement had launched an investigation against the company and its directors on the basis of inputs from the Central Bureau of Investigation (CBI) and found that the accused had misappropriated/diverted bank funds, committed criminal breach of trust and laundered the money so diverted.

· The agency also made provisional attachments of the properties lying in the name of the company and its directors.

· The Liquidator for Rotomac, had sought the release of assets attached by the Directorate of Enforcement, which was rejected by NCLT, Allahabad.

· Against this, the liquidator moved the NCLAT.

· The NCLAT, citing the provisions of the PMLA, said it relates to ‘proceeds of crime’ and the offence relates to ‘money-laundering,’ resulting in the confiscation of property derived from, or involved in, money-laundering.

· It made it clear that, therefore, as the ‘Prevention of Money Laundering Act, 2002’ or provisions therein relates to ‘proceeds of crime,’ it is held that Section 14 of the Insolvency and Bankruptcy Code (IBC) is not applicable to such proceeding.

· Section 14 of the Insolvency and Bankruptcy Code, 2016 prohibits any proceeding or judgment or decree of money claim against the corporate debtor after the order of moratorium which is passed on the insolvency commencement date.

3. Budget 2019 needs to give the economy a much needed stimulus

Analysis:

· Experts have opined that there are certain alarm bells which have been set ringing across the financial system.

· These include:

· Faltering GDP growth,

· A consumption slowdown,

· A truant monsoon that has already hit kharif sowing,

· Global trade tensions and

· A freeze in the credit market

· As a matter of fact, these above factors form the backdrop to the maiden Budget of the Finance Minister, Nirmala Sitharaman.

Case of finding a balance in the Union Budget:

· It is important to note that the Minister has had less than a month to work on this crucial Budget which is expected to work its magic on the economy.

· The Finance Minister has to push for growth, which means stimulus measures, but also stay fiscally responsible, which means sticking to the fiscal deficit glide path.

· This balance is almost impossible to achieve in an environment where tax revenues do not offer enough support for a stimulus package.

· The questions before Ms. Sitharaman are simple: Should she opt to stimulate consumption in the economy even if it means putting the fiscal deficit glide path in temporary cold storage? If yes, what is the best way to do that?

· Following from the above are subsidiary questions such as these:

1. Will the resultant higher borrowings crowd out the private sector borrowers and push up market interest rates at a time when the monetary authority is driving rates down?

2. What will be the impact on inflation?

3. Should the stimulus be in the form of cutting taxes and putting more money in the hands of the consumer? Or should it be in the form of even higher spending on infrastructure that will have definite fiscal spin-offs?

4. And what about welfare spending? The government has already announced an expansion of the Pradhan Mantri Kisan Samman Nidhi Yojana that will take away ₹87,500 crore this fiscal. And there are many other pet schemes of this government that need to be funded.

Taking a Look at Ground realities:

· It is important to note that GDP growth fell to 5.8% in the fourth quarter of 2018-19, with important industry segments reporting a fall in growth.

· Sale of automobiles, which is the bellwether for the larger economy, has been sliding since October 2018. Moreover, in the first quarter of the current fiscal, sales volumes are down by about 18%.

· Next, fast moving consumer goods, two-wheeler and consumer durables manufacturers are all reporting dull rural sales.

· Further, real estate and construction, which is one of the biggest job creators in the economy, have been numb for several months and are a direct cause of the credit freeze in the markets now.

· It is clear that the bottom has fallen off consumption demand, something reflected in the annual results of a host of companies in the consumer sector.

· Given these important factors, there is little doubt that the economy needs a stimulus.

· The downside to the government embarking on this path is clear.

· Direct tax revenue growth failed to meet budgeted levels in 2018-19, falling short by ₹82,000 crore from the target of ₹12 lakh crore.

· As a matter of fact, Goods and Services tax collections, though rising, are still not stabilising at the required level of between ₹1,00,000 and ₹1,10,000 crore a month.

· Experts opine that it will be next to impossible for the government to meet its over-ambitious tax estimates in the interim Budget for 2019-20.

· What compounds matters is the fact that there are bills to pay from the year 2018 to the Food Corporation of India and a couple of other public sector undertakings which helped the government ‘achieve’ the fiscal deficit target the same year.

Weighing the different options available:

· There are a few options that the government can consider for off-balance sheet financing.

· The first one would be taking up the idea on asset sales.

· The interim Budget had earmarked ₹90,000 crore from disinvestment.

· Experts opine that if the government is able to successfully pull off the Air India sale, it would be almost half-way there. There are a host of other government companies that can be sold off to raise the targeted proceeds.

· Second, a one-time transfer from the Reserve Bank of India’s reserves, which is under the consideration of the Bimal Jalan Committee.

· However, if reports of the committee’s deliberations are to be believed, it may be futile for the government to hope for a major windfall here. The committee will anyway submit its report well after the Budget is presented.

· Third, 5G spectrum auctions. While there is reason to hope for some support here, it is unlikely that it would materialise this fiscal. It is important to note that the telecom companies are still licking their wounds from the combined effect of past excesses and bruising competition in the market. Their appetite, as it is, is poor for any more spectrum. So pushing through a 5G auction now would be disastrous.

· That leaves us with just one option — that of increasing borrowings which will, of course, mean curtains for the fiscal deficit target of 3.4% this fiscal. As a matter of fact, higher government borrowings may elbow the private sector borrowers out.

Consequences of Increased borrowings by the Government:

· Increased borrowings by the government will have the unintended negative consequence of pushing up market rates which is something that the government would not desire.

· And then, of course, there will be questions to answer from Standard & Poors and Moody’s which are certain to take a dim view of the fiscal indiscretion.

A Ray of Hope: An Initiative from SEBI

· There is some good news too. Thanks to the recent directive of the stock market regulator, the Securities and Exchange Board of India directing mutual funds to put away 20% of their liquid scheme investments in government securities, a new market opens up for the government.

· Whether it is deep enough to absorb the increased borrowings is a matter of detail but it can certainly cushion the market to some extent.

· Second, yields on government securities are at around 6.82% currently. So even a 10 or 20 basis point rise due to higher borrowings may not cause much dissonance.

· The market is aware of the difficult circumstances now and should be able to take this in its stride.

· As for the ratings agencies, the government needs to be in dialogue with them, reiterate its commitment to fiscal discipline and reassure them that this is a temporary aberration.

Looking at Stimulus:

· Sitharaman would also need to identify the best way to impart stimulus.

· There are two choices: a) either to cut taxes and let consumers to go out and spend the excess, or b) just borrow and spend on asset creation in infrastructure.

· Experts opine that given that there is a serious slowdown in consumer-facing sectors, the better option may be to put more money in the hands of consumers.

· A good option to consider would be adjusting income tax slabs and increasing deductions under Section 80C which is a measly ₹2 lakh now.

· Better still would be to increase the interest deduction for housing loans which would also give a boost to the real estate market.

· These measures would run counter to the reform objective of easing out all exemptions and lowering rates. But then that is under examination by the Direct Tax Code (DTC) panel; the concessions given now will automatically become a temporary measure assuming that the DTC is soon implemented.

Concluding Remarks:

· The fall in tax revenues from the concessions will be eventually made up downstream from indirect taxes if consumers spend the extra money in their hands.

The choice to borrow and spend is indeed a difficult one but in the current circumstances this may be inevitable. Fiscal conservatives are bound to frown at this and there would be dire warnings of the consequences of not adhering to the fiscal deficit commitment.

4. A scheme for farmers that has not reached most farmers

Analysis:

· The Pradhan Mantri Kisan Samman Nidhi (PM-Kisan), which is a cash transfer programme, has a long way to go in terms of both its implementation and scope of coverage. Even as the cropping season is under way, the scheme’s support has not reached farmers in most of the country’s regions.

· Launched by the Centre at the end of its previous tenure and made effective retrospectively from December 1, 2018, experts opine that the measure is a necessary state response to assuage agrarian unrest.

· As a matter of fact, the scheme’s original objective, to “supplement financial needs” of the country’s Small and Marginal Farmers (SMFs) and to “augment” farm incomes, has now been broadened to include all categories of agricultural landowners.

· This expansion, it is believed would benefit an additional 10% of rural landed households.

· It is important to note that PM-Kisan offers ₹6,000 a year per household in three instalments. Broadly speaking, this amounts to only about a tenth of the production cost per hectare or consumption expenditure for a poor household.

· Hence, though what the programme offers is meagre, it promises some relief to poor farmers by partially supplementing their input costs or consumption needs.

Not linked to land size:

· The cash transfer is not linked to the size of the farmer’s land, unlike Telangana’s Rythu Bandhu scheme, under which farmers receive ₹8,000 per annum for every acre owned.

· It is important to note that while landless tenants have been left out in both the schemes, the link with land size makes the support provided by the Telangana scheme more substantial.

· PM-Kisan also falls short of Odisha’s Krushak Assistance for Livelihood and Income Augmentation (KALIA) scheme, which includes even poor rural households that do not own land.

· Experts opine that though the first quarterly instalment, for the December 2018-March 2019 period, was to be provided in the last financial year (2018-2019), the benefits of PM-Kisan have not reached farmers in most parts of the country. Next, with kharif cultivation activity under way already, the scheme’s potential to deliver is contingent on its immediate implementation.

· There are 125 million farming households owning small and marginal holdings of land in the country, who constitute the scheme’s original intended beneficiaries. However, at present, the list of beneficiaries includes only 32% (40.27 million) of these households.

· Further, a majority of the intended beneficiary households are yet to receive even their first instalment of ₹2,000.

· Only 27% (33.99 million) received the first instalment, and only 24% (29.76 million) received the second.

· In budgetary terms, only 17% of the estimated ₹75,000 crore expenditure has been spent. Moreover, implementation in certain States has been prioritised. U.P., for instance, accounts for one-third of total beneficiary households — 33% (11.16 million) in the first instalment and 36% (10.84 million) in the second.

· About half of the State’s SMF households have been covered. Only two other States — Gujarat and Andhra Pradesh — have gained a prominent share. A total of 17 States have received a negligible share of the first instalment, accounting for less than 9%.

Taking Stock of the larger structural issues:

· Experts have opined that for the scheme to be effective, PM-Kisan needs to be uniformly implemented across regions. However, one needs to be mindful that it is not a fix for larger structural issues.

· �� Cash transfers will cease to be effective if the state withdraws from its other long-term budgetary commitments in agricultural markets and areas of infrastructure such as irrigation.

· It is important to note that subsidies for inputs, extension services, and procurement assurances provide a semblance of stability to agricultural production.

· Food security through the National Food Security Act is also closely linked to government interventions in grain markets.

· If the budgetary allocations shift decisively in favour of cash transfers, they will be a cause for great concern. Further, the scheme recognises only landowners as farmers. Tenants, who constitute 13.7% of farm households and incur the additional input cost of land rent, don’t stand to gain anything if no part of the cultivated land is owned. Hence, there is a strong case to include landless tenants and other poor families.

· Moreover, though the scheme is conceptualised to supplement agricultural inputs, it ceases to be so without the necessary link with scale of production (farm size) built into it.

· It becomes, in effect, an income supplement to landowning households. If income support is indeed the objective, the most deserving need to be given precedence.

5. Power play: on Karnataka political crisis

What is the anti-defection law?

· ‘Aaya Ram Gaya Ram’ was a phrase that became popular in Indian politics after a Haryana MLA Gaya Lal changed his party thrice within the same day in 1967.

· The anti-defection law sought to prevent such political defections which may be due to reward of office or other similar considerations.

· The Tenth Schedule was inserted in the Constitution in 1985.

· It lays down the process by which legislators may be disqualified on grounds of defection by the Presiding Officer of a legislature based on a petition by any other member of the House.

· A legislator is deemed to have defected if he either voluntarily gives up the membership of his party or disobeys the directives of the party leadership on a vote. This implies that a legislator defying (abstaining or voting against) the party whip on any issue can lose his membership of the House. The law applies to both Parliament and state assemblies.

Are there exceptions under the law?

· Yes, legislators may change their party without the risk of disqualification in certain circumstances.

· The law allows a party to merge with or into another party provided that at least two-thirds of its legislators are in favour of the merger.

· In such a scenario, neither the members who decide to merge, nor the ones who stay with the original party will face disqualification.

· Various expert committees have recommended that rather than the Presiding Officer, the decision to disqualify a member should be made by the President (in case of MPs) or the Governor (in case of MLAs) on the advice of the Election Commission.

· This would be similar to the process followed for disqualification in case the person holds an office of profit (i.e. the person holds an office under the central or state government which carries a remuneration, and has not been excluded in a list made by the legislature).

How has the law been interpreted by the Courts while deciding on related matters?

· The Supreme Court has interpreted different provisions of the law.

· The phrase ‘Voluntarily gives up his membership’ has a wider connotation than resignation

· The law provides for a member to be disqualified if he ‘voluntarily gives up his membership’. However, the Supreme Court has interpreted that in the absence of a formal resignation by the member, the giving up of membership can be inferred by his conduct.

· In other judgments, members who have publicly expressed opposition to their party or support for another party were deemed to have resigned.

Is the decision of the Presiding Officer subject to judicial review?

· The law initially stated that the decision of the Presiding Officer is not subject to judicial review. This condition was struck down by the Supreme Court in 1992, thereby allowing appeals against the Presiding Officer’s decision in the High Court and Supreme Court.

· However, it held that there may not be any judicial intervention until the Presiding Officer gives his order.

· An important example to cite in this regard is from the year 2015, when the Hyderabad High Court, refused to intervene after hearing a petition which alleged that there had been delay by the Telangana Assembly Speaker in acting against a member under the anti-defection law.

Is there a time limit within which the Presiding Officer has to decide?

· The law does not specify a time-period for the Presiding Officer to decide on a disqualification plea. Given that courts can intervene only after the Presiding Officer has decided on the matter, the petitioner seeking disqualification has no option but to wait for this decision to be made.

· There have been several cases where the Courts have expressed concern about the unnecessary delay in deciding such petitions.

· In some cases this delay in decision making has resulted in members, who have defected from their parties, continuing to be members of the House.

· There have also been instances where opposition members have been appointed ministers in the government while still retaining the membership of their original parties in the legislature.

Does the anti-defection law affect the ability of legislators to make decisions?

· The anti-defection law seeks to provide a stable government by ensuring the legislators do not switch sides. However, this law also restricts a legislator from voting in line with his conscience, judgement and interests of his electorate.

· Such a situation impedes the oversight function of the legislature over the government, by ensuring that members vote based on the decisions taken by the party leadership, and not what their constituents would like them to vote for.

· Political parties issue a direction to MPs on how to vote on most issues, irrespective of the nature of the issue.

· Importantly, several experts have suggested that the law should be valid only for those votes that determine the stability of the government (passage of the annual budget or no-confidence motions).

6. Mumbai marooned

Background:

· Urban flooding has acquired extraordinary dimensions in our times and poses a great challenge to urban planners the world over.

· The frequency of urban floods has increased with not a year passing without some city or the other getting inundated.

· The recent floods of Chennai in December 2015, the Kashmir Floods in 2014, the Surat Floods in 2006 and the Mumbai Floods in 2005 reflect the escalating vulnerability of our Cities to Mega flood situations.

· To mitigate the threat of urban floods to our Growing Cities, the NDMA had formulated the National Guidelines on ‘Management of Urban Flooding’ in 2010 which details the various mitigative and preparatory actions that would enhance the risk resilience quotient of our cities for such a disaster.

· As a part of its mandate, the National Disaster Management Authority (NDMA) has been making efforts to prepare guidelines for the management of different disasters and some cross-cutting themes.

· Even though urban flooding has been experienced over decades in India but sufficient attention was not given to plan specific efforts to deal with it.

· In the past, any strategy on flood disaster management largely focused on riverine floods affecting large extents of rural areas. Mumbai floods of July 2005 turned out to be an eye-opener.

· Realizing that the causes of urban flooding are different and so also are the strategies to deal with them, NDMA decided to address urban flooding as a separate disaster, delinking it from floods.

· It is important to note that urban areas are centres of economic activities with vital infrastructure which needs to be protected 24×7.

· In most of the cities, damage to vital infrastructure has a bearing not only locally but could even have global implications.

· They are also densely populated and people living in vulnerable areas, both rich and poor, suffer due to flooding.

· It has sometimes resulted in loss of life, damage to property and disruptions in transport and power, bringing life to a grinding halt, causing untold misery and hardships.

· Even the secondary effects of possible epidemics and exposure to infection takes further toll in terms of loss of livelihood, human suffering, and, in extreme cases, loss of life.

· Therefore, management of urban flooding has to be accorded top priority.

Factors Contributing to Flooding:

1. Meteorological Factors:

· Rainfall

· Cyclonic storms

· Small-scale storms

· Temperature

· Snowfall and snowmelt

��2. Hydrological Factors:

· Soil moisture level

· Groundwater level prior to

storm

· Natural surface infiltration rate

· Presence of impervious cover

· Channel cross-sectional shape and roughness

· Presence or absence of over bank flow, channel network

· Synchronization of runoffs from various parts of watershed

· High tide impeding drainage

3. Human Factors:

· Land use changes (e.g. surface sealing due to urbanization, deforestation) increase runoff and sedimentation

· Occupation of the flood plain and thereby obstructing flows

· Inefficiency or non-maintenance of infrastructure

· Too efficient drainage of upstream areas increases flood peaks

· Climate change effects, magnitude and frequency of precipitation and

· floods

· Urban micro-climate may enforce precipitation events

· Sudden release of water from dams located upstream of cities/towns

· Failure to release water from dams resulting in backwater effect

· Indiscriminate disposal of solid waste

Looking at Flooding in Cities:

· Cities may be situated on the coasts, river banks, near downstream/ upstream of dams, inland or in hilly areas. There are several cities which may fall under more than one of these categories.

· Rainfall occurs in different seasons on differently located cities in India.

· Local rainfall finds its way into streams/ nallahs and finally joins a river or the sea through local drains in coastal areas.

· Geographically, the cities/towns may be categorized as per the following scenarios:

1. Coastal Cities:

· Coastal cities/towns, which are located on the coastline, experience flooding due to localized rainfall, storm surges caused by cyclones. They also get affected by high tides, coinciding with localized rains.

2. Cities on Major Rivers:

· Many cities/towns are located on the banks of small and big rivers. Floods in those rivers cause inundation of the flood plains as very often urban growth has indiscriminately spread into flood plains, reducing the area into which floods can naturally overflow.

3. Cities near Dams/Reservoirs:

· There are cities/towns which are located along a river, either downstream or upstream of dams/ reservoirs. Those located downstream of reservoirs can get flooded by release of water in excess quantities.

· Sometimes cities/towns located upstream of a dam/reservoir also get affected by rising level of backwaters when release of water is sometimes withheld during the flood season.

· There have been instances when water was released suddenly without appropriate notice, causing severe loss of life and property.

4. Inland Cities:

· Cities/towns located inland can experience floods largely because of localized heavy rainfall within the watershed due to overwhelming of the stormwater drainage system capacity.

5. Cities in Hilly Areas:

· Cities/towns located in the hilly areas experience flash floods due to localized heavy rainfall which can also result in landslides.

Editorial Analysis:

· Recently, the city of Mumbai once again struggled to stay afloat after the first heavy spell of rain this year (2019).

· This brought back memories of the July 2005 flood.

· As a matter of fact, each massive rainfall event is making it evident that the city is putting on a brave front and projecting resilience, but the failure of the Maharashtra government to upgrade its tattered infrastructure is taking a heavy toll and weighing down on the financial capital.

· In Ratnagiri, a dam gave way creating a catastrophe; flights have been cancelled and normal life is affected.

· Critics point out that there is a lack of resolve among political leaders, rampant inefficiency and lack of integrity in the administrative machinery.

· Since Mumbai is one of the wettest metropolises in India, getting about 210 cm of rain annually, it should have been a top order priority to restore rivers and canals to manage floods.

Looking at a recent report filed by the Comptroller and Auditor General:

· In a recent report, the Comptroller and Auditor General has identified prolonged delays in the upgrading of storm water drain infrastructure in Mumbai.

· On the other hand, after the deluge of 2005, the consensus was for the flood-carrying capacity of the Mithi river in the city to be increased.

· However, the Mithi river, being choked and polluted, was again overflowing this year (2019).

The Way Forward:

· There is a need for a new urban paradigm.

· For one thing, Mumbai, Thane, Ratnagiri and Raigad have, during the last century, displayed a high seasonality index, indicating a relatively small monsoon window bringing a lot of rain.

· This is in contrast to steady, prolonged rain in the central districts in Maharashtra.

· So a new climate change-influenced normal could mean fewer days of torrential rain and erratic monsoons.

· Managing them calls for a new approach that is ecological, and makes restoration of existing urban wetlands and creation of reservoirs and water channels a high priority.

· It is important to note that the water question is the biggest challenge for Indian cities today, as both drought and flood are common.

· State governments should give it priority and address it by making urban planning people-centric. A strong framework is needed to manage water, starting with Mumbai.

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futuremarketinsightsreports · 6 years ago

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Solar Pumps Market Poised to Expand at 11.7% CAGR During 2017 – 2027

In a newly published research report titled “Solar Pumps Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027),”Future Market Insights estimates the global solar pumps market to reach up from a value of US$ 822 Mn in 2017 to a value beyond US$ 2,000.0 Mn in the next decade. During the forecast period 2017-2027, the global market for solar pumps is projected to grow at a stellar CAGR of 11.7%.

India to emerge the most lucrative and fastest growing regional market

Middle East and Africa has been the top consumer of solar powered pumps over the years. China has also been a key market owing to substantial adoption of solar pumps. However, India has been expected to challenge MEA and China in terms of growth rate, emerging as the fastest growing region with the most attractive opportunities for solar pumps manufacturers.

“Future Market Insights anticipates robust growth for the India solar pumps market at a CAGR of over 15.0% during 2017-2027,” states a research analyst, (energy, mining, oil, and gas domain). Apart from India, the overall growth for Asia Pacific, precisely South East Asia Pacific is also likely to be on a higher side at a CAGR value of over 12%. In a nutshell, developing economies are slated for robust growth in the global solar pumps market over the next decade.

A sample of this report is available upon request @ https://www.futuremarketinsights.com/reports/sample/rep-gb-520

Indian market to witness hefty sales of solar pumps predominantly driven by governmental policies

Relatively low awareness about installation and benefits of solar powered pumps among farmer communities has been a long standing challenge to limit the adoption of solar pumps in developing countries such as India. Future Market Insights however indicates that rapidly growing awareness since the recent past has already caused sales of solar pumps to surge and agricultural sector has now become the top consumer of solar pumps. Another impactful challenge to market growth is higher upfront costs. Favorable government schemes for farmers, coupled with increasing affordability, will fuel the market growth in near future. The Indian government has recently implemented several initiatives regarding renewable energy projects, resulting in a heap of tax and subsidy benefits.

Soaring demand from water-intensive end-use industry is another factor shaping the future of solar pumps market in India. Irrigation will remain the top application throughout the forecast period, owing to growing water conservation efforts at ground level and technological advances in agriculture. To support and encourage farmer communities for solar pumps deployment on a large-scale, the Government of India is providing an interest-subsidy and a reduced capital-subsidy. In addition, the government has been offering direct subsidies specifically for solar pumps promotion. Various NGOs are also taking efforts to popularize use of solar powered pumps in different parts of India. While the Indian market is being operated by key players such as Jain Irrigation, Shakti Pump, CRI Pumps, Tata Power Solar, and Kirloaskar Brothers, few global players are planning to launch their plants in India to capitalize on attractive opportunities.

To view TOC of this report is available upon request @ https://www.futuremarketinsights.com/askus/rep-gb-520

Insights from the Report

Due to expensive prices of solar powered pumps, the market for solar pumps especially in developing countries such as India and Africa are highly dependent on government funding. “The Government of India has been taking strong steps towards solar pumps popularization since the past few years. The plan involves credit extensions to other developing countries to purchase solar pumps from manufacturers based in India. Moreover, the government also has plans to use the International Solar Alliance specifically for popularization of indigenously developed solar water pumps in Africa, with the help of NGOs. A few less developed countries in Africa are already experiencing the benefits of solar pumps installation in form of drastically increased farm yields and income of rural families. This will be the most important factor driving the market growth in India,” opines an analyst at Future Market Insights.

#Solar Pumps Market

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soaibgrewal-blog · 8 years ago

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DoubleDown #2 - April ‘17

April'17

Path to Profitability

Over the past few months I’ve started seeing a very interesting trend in startup pitch decks, the addition of a section titled - ‘Path to Profitability’. It seems that this is (finally) a question that VC’s are asking. Then, last month a series of companies shared their financial results (or plans) claiming that they were either:

Seeking the path (Grofers) (more)

On the glorious path - Zomato (more) ) + Instamojo (more)

At the end of the path, airline size champagne in hand - InMobi (more)

It began with adtech unicorn, InMobi releasing a statement saying that as of Q4 2016 it had become profitable. According to sources they are on their way to $425 million revenue and $40 million profit in 2017. Around the same time Zomato published a ‘Short Form Annual Report’ highlighting $49 million in revenue, and a reduction in their burn- from $4.2 million to $250,000 in a year. While they haven’t provided timelines they do claim to be on the way to profitability. Instamojo announced year over year growth at 178% (transactions) with a 191% growth in gross margins. All this while only a 4% increase in burn with a -76% reduction in customer acquisition cost! Sampad Swain, the founder says they are very close to breaking even.

Getting to profitability has always been a priority for (most) companies. So this makes you wonder- why is the pursuit of profit (and talking about) suddenly so popular? One answer is founder discipline, like Instamojo or many of the SaaS companies in India. Or is it VC prudence? A desire to ‘return to fundamentals’ and 'build for India' after a series of 'this for that’ disappointments. I’d say yes to both of these theories. But there is another reason everyone is talking about achieving profitability - Exit, that too a very specific form of exit, the much coveted IPO.

Founders & Venture investors have accepted that the public market is the inevitable path for an exit in India, and it's time to get ready. InMobi last raised $100 million debt in September 2015, similarly Zomato raised $60 million in 2015. The tone of both of their public statements sound like they are prepping for roadshows. It’s also interesting to note that Zomato has brought on Deepak Gulati(former CEO of TATA Docomo) as President and COO. The writing on the wall seems pretty clear.

The exit reality seems to have had a ripple effect to early stage investing as well, leading seed investors to ask about the path on day one. There isn't a single founder I've met raising a Series A or B who isn't busy articulating their monetisation and profitability strategies. There is no doubt a structural shift in how investors and founders are approaching things. So does this mean we’ll see series of IPO’s next year? Perhaps. The real question on my mind is how soon, and will the unicorns be first in line?

Till then I’m taking bets on who IPO’s first - InMobi, Delhivery, Zomato, Flipkart?

Deals

Co-Working "startup" Awfis raised $20 million from Sequoia India, making them the most well funded company in this space in India. The space is very busy, and money will help considering WeWorks' anticipated launch in Bangalore later this year. bit.ly/2qlA4B9

Myra Medicine an online pharmacy marketplace raised and undisclosed Series A led by Matrix Partners and Times Internet (TIL). The real story here is TIL's growing urban-consumer portfolio that includes Shuttl, Dineout and Ridlr. bit.ly/2oLZb37

Ninjakart an agri-marketing platform raised $5.5 million from Accel Partners, Qualcomm Ventures,M&S Partners, Japans Mistletoe(the other Son) & Nandnan Nilekani. The company claims to move 60 tonnes of produce from farms to retailers daily. bit.ly/2oY8jxy

NIRMAI a breast cancer screening startup raised an undisclosed seed round led by AI focused firm Pi Ventures, Axilor, Ankur Capital, 500 Startups & Binny Bansal. Their AI based solution is meant to replace existing invasive detection measures. I'd keep and eye on this company. bit.ly/2oUQD5g

Fintech startup Perfios has raised a $6.1 million Series A from Bessemer Partners, their first Fintech investment in India. I would expect more of such deals as Indian financial institutions continue digitizing. bit.ly/2pxuj5A

POPxo a content & media platform for women has raised $3.1million from IDG Ventures, Kalaari Capital and Gree Ventures. They have recently been experimenting with content lead commerce (the holy grail), enabling direct selling on their platform. bit.ly/2pjAkSK

News

FactorDaily did an excellent feature on Freshdesk founder Girish Mathrubootham, detailing his personal and professional story. Girish and Freshdesk have been an inspiration to many Indian SaaS founders with global aspirations. bit.ly/2pjSKDf

Dentsu has acquired a majority stake in SVG Media for an estimated $130 million. With a second exit under their belt Harish Bahl & Manish Vij are hitting heavy and not planning on stopping any time soon. bit.ly/2oV0Hva

KPMG and Google released a fascinating report investigating the impact of Indian vernacular languages on Tech. I personally believe the vernacular opportunity is massive, but will present a whole set of challenges (think- sentiment analysis in Kannada). Full report here - bit.ly/2pLI5m7

The Indian government has finally released a list of the 17 VC funds its invested in through its $1.5 Billion fund-of-funds. According to the status report, they've committed roughly $100 million so far. The report also lists investments made by these funds, including some that haven't been publicly announced yet. Oops. bit.ly/2oYoTNG

Ashwini Ashokan and Anand Chandrasekhan co-founders of MadSteetDen gave FastCompany a run down of their Fashion AI platform - Vue, and how it's changing the way we shop for fashion online. Hopefully in the future it can make sure Myntra stops suggesting Loafers. I know I'm from Delhi, but.... http://bit.ly/2qlRpu0

You may find this interesting

Chris Sacca shocked the tech world by announcing his retirement from Venture Capital, at the top of his game. An early investor in Uber, Twitter & Slack and in a short period of time became an ace VC, and helped shape seed investing. bit.ly/2pkpFr9

If you are into SaaS (software-as-a-service, noob) I would recommend reading this great piece on the'Rise of non-VC compatible SaaS companies'. I've been having quite a few conversations recently about the emergence of companies like this in India. bit.ly/2pk8SUU

Airbnb released a new open source tool help bridge the gap between designers and engineers, it basically connects React.js and Sketch to help with scalability, version control, and data. It may have the potential to reduce timelines and ease collaboration. If you end up using it, let me know what you think! bit.ly/2pm2PiW

This is a monthly newsletter summing up interesting deals, companies and news in the Indian tech ecosystem. One crisp email delivered to your inbox the first week of each month. You can subscribe here.

#newsletter #doubledown

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