Combating rural shrinkages with IT

IIPM Programme :- SUPERIOR COURSE CONTENTS

As the urban-rural divide in India keeps growing, technology will play a pivotal role in bridging the gap

Sriram Raghavan,
President, Comat Technologies

The economic empowerment of rural India is much talked about. There is no one who confesses ignorance on the subject; on the contrary everyone speaks about the rural-urban divide. The good news is that there is agreement on the need for the economic empowerment of rural India. The reality, regretfully, is otherwise. Rural India is still waiting in the ranks to participate in India’s economic revolution. A recent visit to the hinterland provided first-hand exposure on how industrious people could be if they were presented with the right opportunities. For instance, 40-year-old Khan, who owns a small house spread over a quarter of an acre is content staying back in his rural surroundings as a ‘tractor driver’, while his brother works in Kolkata. Although he earns barely enough to educate his children and feed his family, he would not consider moving elsewhere as long as there were employment prospects in his village. And if there were sufficient job prospects in his area, his brother would also return to their village. He is hopeful that opportunities will be available to the people of his village soon. If training were available (“where are the ITIs?”), Khan stressed, he would himself find a better job. People cannot be prevented from migrating to urban areas in search of opportunities as this is a real and global phenomenon. Since the invasion of TV and information overload, aspirations among rural folks have grown. An ‘opportunity giant’ needs to be created to satiate their desires. If we address this and improve opportunities in rural areas, villages will turn into small towns, small towns into bigger ones and these into cities. There is no “rural urban divide” in such a continuum.

“Rurbanisation” can be achieved through the creation of better job prospects in these areas. Delivery to rural India amongst the old economy industries is plagued by problems of infrastructure, roads, permits, laws, sops etc. In contrast, ‘new economy’ opportunities that are technology intensive can be better delivered through the information highway and be moved out of the big cities into towns and large villages. Citing C.K. Prahalad, who opens his best seller The Fortune at the Bottom of the Pyramid with, “If we stop thinking of the poor as victims or as a burden and start recognising them as resilient & creative entrepreneurs and value-conscious consumers, a whole new world of opportunity will open up.” There is huge opportunity in moving back-end work relating to government services to rural areas. A foremost challenge for governments is the digitisation of records and this itself is a huge opportunity to be performed and delivered locally. Governments can provide incentives that’ll enable creation of digital repository of public records. This alone will keep thousands of rural graduates employed.

The government can also provide subsidies for connectivity, procurement of ICT infrastructure & training infrastructure that will allow for businesses to move out of cities. While governments recognise that moving work out of big cities & towns is the answer, they tend to stop at tier two & three towns. These kind of opportunities can be provided at any level and if the right incentives are in place, real opportunities will emerge. It won’t be long before businesses start to outsource their work and before long we will see rural India transforming into the back office for urban India. Collaboration towards genuine Public-Private-Partnership (PPP) to reach out to rural masses who are even today oblivious to the dramatic transformation technology can bring about is the answer to “Rurbanisation.” For PPP models to succeed, it’s important to have progressive & decisive partners. We have already seen this with the governments of Karnataka, Uttaranchal, Haryana, and several others. Clearly, it’s time to seize this opportunity and launch inclusive initiatives that will energise our rural economy.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Philips DVD Mini Hi-Fi System

IIPM Programme :- SUPERIOR COURSE CONTENTS

Technical Specification

Dolby digital, progressive scan component video, 2x75W RMS/2600W PMPO, 3-way Speaker System with MAX bass port, incredible Surround™, digital sound control, virtual ambience control, plays DVD, (S)VCD, MP3-CD, WMA-CD, CD(RW) & Picture CD, 40-preset digital tuning, stereo cassette deck, karaoke.
PRICE: Rs.25,999
WARRANTY: 1 year service warranty

With digital sound control, the Philips DVD Mini Hi-Fi System offers you a choice of pre-set Jazz, Rock, Pop and Classic controls which you can use to optimise the frequency ranges for different musical styles. Not only this, the virtual ambience control (VAC) feature creates a virtual sound environment that helps the system to digitally impersonate the sound traits of particular rooms or environments such as concert halls, the cinema, discos, et al. Further with a 3-way speaker system with MAX port and incredible surround technology, the system radically amplifies the sound field to have you every bit of it.

Marketers’ delight: It’s got the looks, and it sings loud and clear!

Tester’s note: Pros – Great sound quality. 40 channel preset FM/AM , DVD /CD Playback. Con – Limited video format support.

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.
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The DNA saga

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Both Delta and Northwest Airlines face a gory bloody end, if...

Circa 2005: Delta Air Lines, Northwest Airlines (NWA), United Airlines, US Airways et al file for bankruptcy protection. Circa 2006: Delta rejects a takeover bid by US Airways Group Inc. Delta also launches an aggressive campaign to protest the takeover bid [remember the ‘Keep Delta My Delta’ campaign]. Both Northwest and Delta suffer debilitating consecutive losses of $2.83 billion and $6.2 billion respectively. Circa 2008: Delta and Northwest decide to merge their operations in a pursuit to become the number one global airlines.

The story has just one import: Delta and Northwest better merge fast if they need to even have a ghost of a chance of survival! With the accelerating fuel pricing, and killing pricing pressures, global airlines are simply folding up. As Richard Anderson, Delta CEO, commenting on the proposed merger, said to his employees, “We believe that consolidation in the airline industry is inevitable.”

So why’s the deal raking in the support? First, it comes on the heels of both airlines closing 2007 with profits, though relatively spartan (Delta: $1.61 billion; NWA: $2.09 billion). Second, the new consolidated entity ‘Delta’ will be worth $17.7 billion, will have mind boggling revenues of $31.7 billion, (higher than American Airlines’ $22.9 billion sales; FY07), would have a fleet of 800 planes and employee strength of 75,000. Third, Delta then will also displace American Airlines in terms of traffic to become the #1 airline in the world; and will even control a massive 25% of the US air travel market. Fourth, despite the glorious figures above, both the airlines involved are using this as a survival strategy rather than as a leadership strategy. As Peter Harbison, Executive Chairman, Centre for Asia Pacific Aviation, put to B&E, “This is a merger that needs to happen, both for the airlines concerned and as a precedent for immediate imitation. If this opportunity is lost, there will be blood.” Gory... very gory...

Pallavi Srivastava

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.
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TARIQ ALI - baring the truth

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TARIQ ALI
baring the truth

None have influenced political writings about Asia and the way they are written than Pakistan born historian-commentator Tariq Ali. He has changed the basics of political writing and taken it to another level. It is thanks to him that the West has started seeing events in a perspective that their government and media don’t allow. So, instead of seeing the Israel-Palestinian conflict as war of civilization, a large section of population in the West now perceives it as a nationalist movement. Voices and murmurs about infringement of human rights in the occupied territory can now be heard, which were taboo ten years ago.

It is he who had the courage to talk about fallout of terrorism in Kashmir, when most of the western world saw it as a separatist movement and called dreaded terrorists mere militants. He has single handily made the “Asian point of view” relevant in the West. As Asia emerges as an economic and strategic powerhouse, job for Tariq Ali is clearly cut out. Nations like India and China will need to strengthen their soft power in order to have their say in the global arena fearless intellectuals like Tariq Ali will certainly be playing key role.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.
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JHUMPA LAHIRI - India’s Universal voice

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JHUMPA LAHIRI
India’s Universal voice

Exquisitely observed characters. Elegantly measured narrative. Gentle, wise yet unassuming voice. Fearless open sensuality. Hidden complexity spun and weaved from simplicity. Prose of uncommon elegance and poise… Jhumpa Lahiri is all this and much more. Right from her debut collection till her latest zonker of this April release, this beautiful and gifted young lady has been wooed by awards, accolades and appreciation in profusion.

Lahiri’s strengths are those of a master story teller exploring a terrain that is at once both intensely personal and yet totally universal. They illuminate in undramatic, simple actions and activities in a magical fashion giving it a life of its own. What does the future augur for this brilliant and sensitive writer? Plenty. Lahiri’s three books have certainly placed her and India on the world map and reminded lovers of great literature that it is possible - even in these cynical times - to embrace both mass & class appeal if you are true to your art and craft & have the genius to chronicle mundane things in a way that engages, entertains, enriches & finally empowers…

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.
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The importance of agriculture and its role in socio-economic..

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The importance of agriculture and its role in socio-economic in India can be realised from the fact that the majority of population depends directly or indirectly on agriculture. The agriculture sector contributes only about 18% of the total Gross Domestic Product (GDP), with around 60% population depending on the same. For development of agriculture APMC Act or Agriculture Produce Marketing Committee Act should be dismantled and more access to free market should be provided to the farmers. On the lines of Special Economic Zones, 750 Special Agriculture Zones or Agro-processing Zones, should be developed. This will allow specialised agriculture and resources sharing that will in-turn lower the production cost and increase efficiency. To let in this improvement percolate all the farmers, even in the most remote area, there is urgent need of 75 new agriculture research institute and extent the irrigation facility to 75% of land area, which now covers only 55% of land. The agriculture should be more technology intensive, wherein the farmers should be told about latest technology and scientific methods of agriculture. For imparting this kind of knowledge, farmers should be updated with latest improvement in framing and for this 750 small agriculture information centres should be opened. Schemes like ‘Saksham’ should be extended to 75000 villages from current target of 50000 villages and should cover 75% of rural population instead of 50% population. The success story of ITC’s numerous projects should be widened and should reach benefit 75000 villages of India (only 35000 villages had been covered).

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.
IIPM, GURGAON
IIPM : EXECUTIVE EDUCATION
IIPM’s 36th Glorious Year of Academic Excellence
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When IIPM comes to education, never compromise
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Why Study Abroad When IIPM Gives You 3 global Advantages!
IIPM Ranked No. 1 B-School In Global Exposre - Zee...

Uncertainty rules the sentiments on the Street

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Although there may be long-term positive effects of the various Budget proposals this year, investors, traders and speculators seem unhappy with the Finance Minister, writes gyanendra kashyap

The Sensex high of 20,873.33 (in January, 2008) was followed by the bloodbath later in the same month. But that’s not where the tragic tale ends. The fact is that the market has come down by nearly 22%, thanks to global cues arising out of concerns that the US economy is on the verge of a recession. Amidst such a choppy ride, the Union Finance Minister, while presenting his recent Budget (an election one by all means) only added to the woes of the nervous primary and secondary markets. Investors in stocks and commodity exchanges have to now gear up to grapple with a few unfriendly measures. The proposed hike in short-term capital gains tax, bringing transactions in the commodity exchanges under the transaction tax net (on the lines of Securities Transaction Tax), and spreading the service tax net to cover stock and commodity exchanges, as well as the depository and clearing corporations are going to affect volumes and dent sentiments. The $15 billion loan waiver (termed as an ‘emergency measure’ by the finance minister) to benefit 40 million ‘distressed farmers’ has further hit the banking sector. Considering the uncertainty over the burden of the losses to be shared by the banking sector, the share prices of banks have dipped, so much so that the share price of the largest bank, SBI, declined by close to 12% to touch Rs.854.15 (on March 5, 2008) since the Budget day. And despite mixed responses to the Budget, the numbers at the BSE show no confusion – it’s not something to smile about!

Of the several surprises that the Finance Minister, P. Chidambaram sprung, the most debated ones have been the hike in the short term capital gains tax from 10% to 15%, and the introduction of commodity transaction tax. However, considering that the tax on short term capital gains had been reduced from 20% to 10% in the last Budget, a 50% increase this year is not likely to have a major impact in the long term. Subhasis Gangopadhyay, Advisor to the Finance Minister, observes, “The short term capital gains tax has been introduced to promote long term investment.

It is not going to make much of a difference.” The FM had himself stated in his speech that there was “merit” in equating the taxes on short term capital gains and dividend distribution tax. Conclusively, it is a prudent measure to curb speculation and induce long term investment. The logic seems to have found support from experts as they feel that increasing the tax rate will further encourage investors to have a longer range commitment and discourage unhealthy speculation. The Mutual Fund industry has been optimistic about the proposal. Ajay Bagga, CEO, Lotus India Asset Management, says, “It’s better, the churning will be stopped which is what we in the industry look forward to as long term investors. It will restrain investors from short-term liquidation.” Agrees Sandesh Kirkire, CEO, Kotak Mahindra Asset Management, “The rise in short term capital gains is a positive step taken to make the domestic investors elongate their investment horizons.”

The fact that service tax will be imposed on Unit Linked Insurance Plans (ULIPs), a move to create a level-playing field with Mutual Funds, has brought in the much-needed enthusiasm. Yet, few argue that it is a big market dampener for sentiments and more so for the foreign institutional investors (FIIs). The brokerages feel that it would impact sentiments negatively (trading volumes will be hit) in the short run. From a macro perspective, it will not hit businesses hard, for as the market progresses from speculation-based trading to a more fundamental and value-based one, the opportunities for making money would not be totally missed. Agrees Srikanth Velamakanni, CEO, Fractal Analytics, “While it is an unpopular move, and the market has reacted negatively to it, the move may be useful for small investors because it would reduce the volatility of the market and incentivise investing for the long term.”

Any introduction or raising of taxes is sentimentally not very welcome. “With the addition of Commodities Trading Tax, the market will become unusable for risk management,” complains Jignesh Shah, MD & CEO, MCX. Analysts agree that the introduction of the tax is bound to adversely impact the already-nervous secondary and primary markets. The disenchantment to this can be gauged from the fact that the commodities market regulator, Forward Market Commission (FMC), has countered saying that it was wrong to compare the commodities and the equities market since both had a different character altogether. Further, it has taken up the cudgels on behalf of the commodity exchange to exempt futures trading from the proposed tax. Perhaps, the FMC is yet to learn the “no rollback” comment of the Finance Minister during his interactions with the CII National Council members. The proposal will amount to a 0.017% levy on options premium and the sale price of a commodity derivative. The purchaser will be required to foot in 0.125% on settlement prices of options in commodity derivatives or goods. Adds Shah, “Indian commodity market will become inefficient and not serve its economic purpose of enabling risk management at this cost of trading, which is far inefficient compared to global cost, and business will migrate from regulated exchanges to international markets or unofficial local market.” This could lead to a tapering off in secondary market liquidity, and a further drop in the liquidity on the commodity exchanges.

The change in the treatment of securities transaction tax as a deductible expenditure against business income, and proposing a tax on services of stock exchanges will further hit sentiments. The changes in securities tax would result in a higher effective tax outgo, which will impact volumes of day traders and arbitrageurs. Bringing it under the service tax net will increase the transaction cost for traders and investors. According to Amitabh Chakraborty, Economist, Religare Securities, “Arbitrageurs and traders will be the most hit. They are the ones who create liquidity in the market.” The move would have been welcome had it been introduced when the market was in a bull phase.

The Budget has not met the expectations of many, argues Gary Bennett, Managing Director & CEO, Max New York Life Insurance, “The FM has not taken any specific action to promote long term savings, including investments for retirement through exemptions under section 80C.” Bert Paterson, MD & CEO, Aviva Life Insurance shares a similar opinion, “The Budget is yet another lost opportunity for the insurance sector. Instead, the asset management services for ULIPs have been brought under the service tax net which could have an adverse impact on long-term savings.” The market has responded to the Budget in a mixed fashion, but only when the proposals come into effect will we witness the actual impact. Considering the negligible effects, some of the proposed changes will be forgotten. Whatever be the case, the Sensex may anyway head southwards.

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.
IIPM : EXECUTIVE EDUCATION
IIPM’s 36th Glorious Year of Academic Excellence
IIPM Ranked No. 1 B-School In Global Exposre - Zee...
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IIPM, GURGAON

Inglorious uncertainties!

IIPM : EXECUTIVE EDUCATION

The economic scenario in the new year appears to be dark

Dark clouds, which had begun to hover over US economy towards the fag end of 2007 are beginning to spread, engulfing developed & developing economies across the globe. The all pervasive dollar decline coupled with food shortages across the globe are the chief causes of concern in the recently released Global Risk Report 2008, released ahead of the ongoing World Economic Form summit. “The discussions in Davos will certainly be dominated by the economic challenges we have at the moment,” says Klaus Schwab, the founder of the Davos forum.

“The report projects an increase in the likelihood of pandemic risk materialising. What makes the risk even more challenging to meet is the fact that their is lack of awareness among the populations in developing countries with regards to the economic consequences of Pandemic outbreaks,” says B. S. Nagaraj, Practice Head-Public Policy & Risk Management, Hill & Associates (India) Private Limited while speaking to B&E. The theme at this years’ meet at Davos has aptly been titled: “The power of collaborative innovation.” All said and done, the leaders will have to be extra innovative to prevent the global capitalism from adopting protectionism.

B&E edit bureau: Atul Bharadwaj

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Sardar of planning

IIPM : EXECUTIVE EDUCATION

Setting right priorities to manage national capital & make it efficient

He is Manmohan’s man in the Planning Commission. But he is there because he deserves it. Needless to mention that Montek has stood up to the challenge over the past few years to provide direction to the Planning Commission in the era of ‘LPG’ (liberalisation, privatisation & globalisation). He has undoubtedly introduced fresh management techniques in the commission, because he firmly believes that it is “more of a consultative body.” And he does not consider himself to be an “economic czar.” His biggest achievement is giving much awaited impetus to agriculture, education & health sectors in the 11th Five-Year-Plan (proposing to raise allocations by almost 75% of the total expenditure as compared to 55% during the 10th Plan). In fact, for the first time, the allocation for the education sector has increased to 19.4%.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Damming the declining dollar!

IIPM’s 36th Glorious Year of Academic Excellence

The plummeting dollar indices fresh chasms in OPEC

With the oil prices on the cusp of touching the century mark, the global oil politics is in full swing. The political wrestling was in full display at the recently concluded OPEC summit, where on one hand, Venezuela & Iran desired some action over the dwindling fate of dollar by pricing oil in a basket of currencies. And the time tested US ally, Saudi Arabia, aptly preventing the dollar from appearing on the agenda.

At the end of the two-day summit, the final communique of OPEC concluded: “We affirm our commitment . . . to continue providing adequate, timely & sufficient oil to the world market.” The declaration helped in further fall of the dollar, which the Iranian President had described as a “worthless piece of paper.” The Iranian leader was ably assisted by the Venezuelan President Hugo Chavez, who in his inimitable style condemned the flawed US foreign & military policies as the main driver of high oil prices, he added, “If the US followed through on military threats against Iran, oil could double to US$200 a barrel.” The US profligacy certainly is one of the factors driving the oil prices high & the dollar to decline. Although, the dollar issue was ducked at the summit, but it has been agreed upon that the respective finance ministers, will meet to discuss dollar impact on their economies, prior to the scheduled meet of the OPEC oil ministers in Abu Dhabi on 5th December.

Reasonably-priced oil must continue to flow through the global commercial veins uninterrupted. As King Abdullah, the Saudi leader avers, “Oil is an energy that is about construction & development and should not be turned into a tool of dispute and whimsy.”

B&E edit bureau: Atul Bharadwaj

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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K for Kerala, K for Kar’toonz’

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K for Kerala, K for Kar’toonz’
P. Jayakumar, CEO, Toonz Animation speaks up for the state...

"Tourism is often considered the bloodline for Kerala. It’s time that this notion changes with IT parks, SEZs and hi-tech parks and facilities mushrooming in the state. It’s become the new dream destination for profit lovers!"

Gone are the days when Kerala was tagged as the ‘non-investor friendly state’. Once touted as a nightmare for investors because of the strong presence of organised labour unions and also unfavorable government policies and ideologies, Kerala now boasts of many ‘firsts’ and ‘bests’ in various sectors. The state has evolved by leaps and bounds in attracting investments to gargantuan proportions. When Toonz Animation India Pvt. Ltd. was established in 1999 in Technopark, the state barely took its infant strides to lure fat-pursed investors. Technopark, the brainchild of the then government, to attract investment in IT sector and tap the burgeoning demand for software professionals, was the initial step in this direction. The success of this ‘Greenest IT Park’ set the tone for massive infrastructure development projects in Kerala especially in IT and ITES sector. The reasons for Toonz Animation establishing the business in Kerala are two fold. The State is known for its rich artistic talent. We wanted to tap this immense human talent available that would serve as the feeder for the animation workforce. Secondly, the availability of modern infrastructures in terms of state-of-the-art communication facilities at Technopark also influenced our decision to set up base in Kerala.

Kerala has emerged as one of the preferred investment destinations in South Asia due to its proactive industrial policies, pro-enterprise incentives, skilled manpower, abundant resources, state-of-the-art infrastructure and low cost of operations. The state also enjoys worldwide connectivity due to its strategic location and unparalleled legislative policies that have attracted business from the flourishing global markets.

With the emerging investment opportunities and ready supply of educated workers, big companies have started plugging into Kerala in large numbers. Kerala today has the highest literacy rate amongst all the Indian states. This is both a matter of pride and a fantabulous opportunity for participants who want to ensure their growth and success in the state.

The Government of Kerala has undertaken several policy measures and incentives for attracting corporate and individual investors into the state, especially in the sectors of Information Technology, Tourism and Agriculture.

The establishment of Industrial parks, Special Economic Zones and considerable tax holidays have resulted in bullish investments in many sectors including manufacturing and knowledge-based industries.

Government sources estimate that investments to the tune of Rs.10,000 crores are in the pipeline. The setting up of ‘Smart City’, ‘Hi-Tech city’ and ‘Info Park’ along with other proposed ventures would lure a lot of investment to the State. For the present growth patterns to sustain, successive governments in Kerala will have a significant role to play.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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Brijesh Jacob (30), Grey Worldwide.

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Brijesh Jacob (30), Grey Worldwide. After meandering through life trying to sell anything from Carrier Aircons to his soul, this 30-year-old Calcutta-born and bred Malayalee decided to settle for advertising. The pay wasn’t good but anything to ensure that he never had to step out in the merciless Calcutta sun. And by this time, boosting the circulation of The Statesman (where he was working at that time) did not have the same kind of charm. A few years, agencies and a PG in Mass. Comm. later, coupled with a shift to Mumbai, Brijesh finds himself responsible for the creative product of Grey Mumbai. Prior to this, he was a Creative Director with Lowe, Mumbai. That was where he learnt the tricks of the trade. But it’s in places like Rediffusion DY&R and Saatchi & Saatchi, where self-admittedly, he has taken his first steps to success. He has won metals at Asia Pac Adfest, Promax and Outdoor Awards and has been a finalist at Cannes and New York festivals. All these apart from having his work featured in leading advertising annals like Campaign Brief’s Work. When he isn’t dreaming about that dream car or house, he is busy stuffing himself with rice, dal and fish curry and mindlessly cheering for Arsenal.

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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ZEE BUSINESS BEST B SCHOOL SURVEY
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K Raheja Group

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Investee: K Raheja Group

Investor: Ishaan Real Estate

Investment Value: $251.63 mn

Ian Hendersen, Chairman, Ishaan Real Estate, said in his interview, “Investment in the initial portfolio of assets is being completed, largely according to a plan, and the increased net asset value reflects the strong demand for our properties and the enormous potential of the Indian property market.” IRE is the holding company of K Raheja Corp floated in order to raise money from foreign markets. IRE leverages the muti-decade experience of the K Raheja Corp. in the Indian real estate sector.

Ishaan Real Estate (IRE), a real estate fund listed on LSE’s Alternative Investment Market (AIM), invested $251 million in K Raheja Corp.’s various projects located in western and southern India. This investment was part of the $412 million that company raised through its global IPO in November 2006. IRE holds a 40% stake in each of Raheja’s eight projects comprising shopping malls, IT parks, hotel projects and residential projects. The Raheja Group at present has expansion plans for their residential, IT park projects and SEZs. Apart from that, the company has major expansion plans for Globus stores, one of their retail ventures. They will be spreading to all parts of the country, and have 152 stores by the year 2012, which will need an investment of nearly $200 million. Also, their other brands such Shopper’s Stop, InOrbit Malls, Mindspace and Commerce Zone will rake in additional investments in the wake of rising demand.

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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UEL (Eenadu Group)

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Investee:

UEL (Eenadu Group)

Investor: Blackstone Group

Investment Value: $275 mn

UEL Chairman Ramoji Rao was quoted as saying that “the company had several financing options, including an initial public offering, but we went with Blackstone because we wanted to leverage the group’s experience and track record in the global media sector, and which has holdings in some of the fastest-growing media firms in the world that include Sirius Satellite Radio, VNU, CineWorld and Universal Orlando.” No doubt, a good decision by UEL, as the industry where the group is dominant has definitely changed over the last few years. Due to increased competition, margins of Eenadu Group have eroded. And, therefore, a capital infusion seems quite timely for the company.

Amidst the deluge of PE investments into the Indian telecom and realty sectors, Indian media was definitely not a silent viewer. It got its fair share of PE attention when Blackstone, the world’s largest leveraged-buyout firm, pumped in $275 million into Ushodaya Enterprises Ltd. (UEL) to pick up a 26% stake in the Eenadu Group that owns the leading Telugu daily Eenadu and one of the largest private television networks in the country, ETV. However, according to sources, Blackstone has subsequently reduced the size of the planned deal and, under the amended terms, it is looking at a 14% stake for Rs.590 crores or a little less than $150 million in UEL – all due to hurdles in obtaining the green signal from the Foreign Investment Promotion Board. But, according to latest reports in leading news dailies, Blackstone has succeeded in getting the Finance Minister P. Chidambaram to formally sign on a revised deal to invest around $150 million in UEL. It seems that the deal is finally taking shape.

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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"We Will be larger than AIR by end of this year”

IIPM, GURGAON

The confident Prashant Pandey, CEO, Radio Mirchi, thinks advertising on radio can grow four times in the next five years. And Mirchi will become the country’s largest radio player

In 2007, the Indian radio space buzzed. As players like Big 92.7 FM and SUN FM entered the market, questions were raised on the non-expansive strategies of pioneers like Radio Mirchi. But Mirchi’s tale has a twist. It doesn’t believe in increasing the number of stations at the cost of revenues and shareholders’ returns. But despite competition, Mirchi is the largest private FM player (in terms of revenues) in the country with a pompous 45% market share in the private FM space. Mirchi is “above most TV channels, barring a few” and, in 2008, it expects to outshine AIR. 4Ps B&M’s PALLAVI SRIVASTAVA met Prashant Pandey, CEO, Radio Mirchi, to find out how he hopes to achieve this objective.

How do you see Radio Mirchi as a brand?

Mirchi is a very strong brand in the country. It is a sunshine brand and that’s why when listeners tune in to Radio Mirchi, they immediately are in a pep mood. In fact, we find demand for Mirchi in the global market among overseas Indians. So, we are looking at taking Mirchi global. However, we haven’t decided any timeline, or a strategy for that. It’s just a thought.

What are the plans for Mirchi in 2008?

We will look at participating in the future expansion of radio in India. In some small way, we will participate in the balance frequency of Phase II and may be, if there is Phase III, then we will certainly look at participating in that. But when I say expansion of radio, I don’t only mean increasing the number of stations. We will largely be working on growing the listenership in major markets. If you look at the market, you wll realise that there is a lot of uncovered ground. For example, in a city like Delhi or Bombay, there are 60-70 lakh listeners, but they can become a crore because of the density of population in such cities, and the fact that access to radio is not a problem. So, we will be primarily working at building the category in the major markets over the next year. We’re looking at growth this year, although last year witnessed a bit of turmoil due to competition. Of course, when competition comes in, existing operations get disturbed for some time. So, we look at the coming year as being one of significant growth in terms of revenues. We also expect the profit margins to rise.

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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AD’s OOH affair

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Almost a veteran, AD’s World is totally charged up to take on the new onslaught

OOH la la! That’s what the Rs.1200 crore Out-of-home industry is singing after the Supreme Court on October 16 approved the Outdoor Advertising Policy for New Delhi, allowing hoardings on road after a hiatus of 10 years. Little wonder that OOH is the most talked about dimension in the world of advertising at present, with big names like Times Group, ADAG, et al, flocking toward it. However, agencies like AD’s World have been betting heavily on this sector for a long time. Since AD’s World started in March 1992, OOH has not just been its first love, but till date remains its only love. Also an acronym for advertising, AD’s World seeks to pay homage to its founder Ajay Dhawan, by using his initials ‘AD’ in its name.

From a one man show at the time of inception, AD’s World has grown to 11 offices across the country, and clocks a billing of Rs.70 crore annually. The agency has big-ticket clients like Vodafone, Acer, Canon, ING Vysya Bank in its ever-expanding kitty and has registered a three digit growth for the past five years (except one year in which they took a breather to consolidate). Even then, their average growth for the past five years has been an impressive 105.6% on a Y-o-Y basis.

Dhawan emphatically states, “The competencies that has helped AD’s World scale these heights is that while most of the companies in OOH business focus only on static advertising, which is like the last mile apart from the regular buying and planning that all the companies have to do, AD’s World does turnkey project management at retail level as well, so that it does not cover just the last mile but last hundred meters and the last meter as well.”

The agency has always sought attention in the midst of the biggies, so when asked about the strategies they adopt at the time of pitching, Dhawan revealed with a big smile on his face – ‘Flanking’. Simply stated, AD’s World tries to break in to a company through its retail arm and once a connection is established, it tries to get its hands on other services of the company. A case in point is that of Vodafone. Ogilvy handles almost the entire Vodafone account, but Vodafone’s Balloon March was organised by AD’s World in various parts of the country like Kolkata. Maybe these are the strategies that give Dhawan the confidence to comment, “There is no competition in the industry as of now.”

The man is also not too worried with the kind of aggressiveness Times Group & ADAG are showing. Adds Dhawan “It would help getting regularisation and some kind of method to the madness. It would not be a dream to think that if newspapers can have something like Indian Newspaper Society (INS), OOH can also have society, which mandates payments within the set time frame.”

AD’s World has been around for quite some time now and has learnt the tricks of the trade well. Apart from their creatives, they would like to be known for their transparency. This philosophy coupled with the fact that this fiscal, AD’s World has already done three times the business that they had the entire previous year, leaves no iota of doubt that for AD’s World FY-08 would be yet another year of impressive growth numbers and a smiling cash ringer.

Edit bureau: Surbhi Chawla

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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THERE’S MORE TO UMBRELLAS

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In the first ever survey of Indian consumers, 4Ps B&M and ICMR find out why we opt for insurance - do we prefer private or public insurance, and has our insurance exposure gone up? Also featuring exclusive interviews with Vikram Mehmi – Birla Sun Life, Ajay Bimbhet – Royal Sundaram Alliance Insurance et al.

Thy name is trust, ‘BIG’ trust

The biggest of them all in the whole of Asia for sometime now – Life Insurance Corporation of India (LIC), is only getting bigger by the day.... Its sole objective till date, has been to spread life insurance widely and in particular to the rural areas and to the socially and reasonably backward classes in India; with an aim to gain access to all insurable persons in the country by providing them an adequate financial cover against death, and at a reasonable cost. It also believes in maximising mobilisation of people’s savings by making insurance-linked savings adequately attractive.

It goes by demand and thus LIC of India, as part of its endeavour to come out with new products over time, has launched Group Critical Illness Rider. The product is targeted chiefly at the employer-employee group who have taken group insurance products earlier or are planning to buy a group insurance product. T. S. Vijayan, Chairman, LIC, said, “Human capital is important for the success of any organisation. The employees are subjected to three key risks - death, disability and occurrence of critical illness which influences the individual employee’s physically and financially and, consequently, the organisation. Hence, LIC has come out with a comprehensive group insurance scheme with Critical Illness (Accelerated) Rider.” Thoughtful, in this age of efficiency control!

Figures however, are not that thought-provoking with LIC registering Rs.22,761.49 crores as premium collections during the first six months of FY 2007-08, marking a decline of 2.87%, as compared to a year back. Indeed, at a time when competition is gnawing hard at its margins, the giant needs to work with volumes than margins.

For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

For More IIPM Info, Visit below mentioned IIPM articles.
When IIPM comes to education, never compromise
IIPM, GURGAON
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