Don't forget to be Awesome
In most ways, Internet of Things analytics are like any other analytics. However, the need to distribute some IoT analytics to edge sites, and to use some technologies not commonly employed elsewhere, requires business intelligence and analytics leaders to adopt new best practices and software.
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Startup India campaign is based on an action plan aimed at promoting bank financing for start-up ventures to boost entrepreneurship and encourage start ups with jobs creation. The campaign was first announced by Prime Minister Narendra Modi in his 15 August 2015 address from the Red Fort. It is focused on to restrict role of States in policy domain and to get rid of “license raj” and hindrances like in land permissions, foreign investment proposal, environmental clearances. It was organized by Department of Industrial Policy and Promotion (DIPP). A startup is an entity that is headquartered in India which was opened less than five years ago and has an annual turnover less than ?25 crore (US$3.7 million). The government has already launched iMADE, an app development platform aimed at producing 1,000,000 apps and PMMY, MUDRA Bank, a new institution set up for development and refinancing activities relating to micro units with a refinance Fund of ?200 billion (US$3.0 billion).
The Standup India initiative is also aimed at promoting entrepreneurship among SCs/STs, women communities Rural India’s version of Startup India was named the Deen Dayal Upadhyay Swaniyojan Yojana. To endorse the campaign, the first magazine for start ups in India, The Cofounder, was launched in 2016.
Key points
Single Window Clearance even with the help of a mobile application
10,000 crore fund of funds
80% reduction in patent registration fee
Modified and more friendly Bankruptcy Code to ensure 90-day exit window
Freedom from mystifying inspections for 3 years
Freedom from Capital Gain Tax for 3 years
Freedom from tax in profits for 3 years
Eliminating red tape
Self-certification compliance
Innovation hub under Atal Innovation Mission
Starting with 5 lakh schools to target 10 lakh children for innovation programme
new schemes to provide IPR protection to start-ups and new firms
encourage entrepreneurship.
Stand India across the world as a start-up hub.
Launch
The event was inaugurated on 16 January 2016 by the finance minister Arun Jaitley. Among the attendees were around 40 top CEOs and startup founders and investors from Silicon Valley as special guests including Masayoshi Son, CEO of SoftBank, Kunal Bahl, founder Snapdeal, Ola founder Bhavish Aggarwal, Paytm founder Vijay Shekhar Sharma, Travis Kalanick, founder of Uber, Adam Neumann, CEO of WeWork, BJ Arun, CEO of July Systems, Prateek Kr. Bhowmick, Co-founder of ReviewAdda, Sachin Bansal, Co-founder of Flipkart, Naveen Tewari, Co-founder of Inmobi and others.
Government’s role
The Ministry of Human Resource Development and the Department of Science and Technology have agreed to partner in an initiative to set up over 75 such startup support hubs in the National Institute of Technology (NITs), the Indian Institute of Information Technology (IIITs), the Indian Institute of Science Education and Research (IISERs) and National Institute of Pharmaceutical Education and Research (NIPERs).
The Reserve Bank of India said it will take steps to help improve the ‘ease of doing business’ in the country and contribute to an ecosystem that is conducive for the growth of start-up businesses.
Investments
SoftBank, which is headquartered in Japan, has invested US$2 billion into Indian startups. The Japanese firm had pledged the total investments at US$10 billion. Google declared to launch a startup, based on the highest votes in which the top three startups will be allowed to join the next Google Launchpad Week, and the final winner could win an amount of US$100,000 in Google cloud credits. Oracle on 12 February 2016 announced to set up nine incubation centres in Bengaluru, Chennai, Gurgaon, Hyderabad, Mumbai, Noida, Pune, Trivandrum and Vijayawada.
States Assessment
Southern States of the nation have shown great performance, like Karnataka, Kerala, Andhra Pradesh and Telangana which have results better than the rest of the country in terms of their policies implementations for supporting startups. Their focus has been on improving infrastructure, especially in the Tier-II cities. Bengaluru , a metro city of Karnataka, is known as the Silicon Valley of India. Kerala is well known for the government’s startup policy, “Kerala IT Mission”, which focus on fetching ?50 billion (US$740 million) in investments for the State’s startup ecosystem. It also made India’s first telecom incubator Startup village in 2012. The state also matches the funding raised by its incubator from Central government with 1:1. Telangana has launched the largest incubation center in India as “T-Hub”. Andhra Pradesh has allocated a 17,000-sq.ft. Technological Research and Innovation Park as a Research and Development laboratory. It has also created a fund called “Initial Innovation Fund” of ?100 crore (US$15 million) for entrepreneurs. The government of Madhya Pradesh has collaborated with the Small Industries Development Bank of India (SIDBI) to create a fund of ?200 crore (US$30 million). Rajasthan has also launched “Start-up Oasis” scheme. In order to promote start-ups in Odisha, the state government organised a two-day Start-up Conclave in Bhubaneswar on November 28, 2016. The main objectives of the event would be to motivate youth towards entrepreneurship, showcase the start-up ecosystem in Odisha and attract more start-ups to the state.
On the same day that Donald Trump was elected president of the United States, India also received an unexpected, earth-shattering announcement. However, theirs wasn’t of a disruptive, unconventional presidential candidate coming to power but of a disruptive new policy that would instantly shake up the lives of 1.25 billion people, rich and poor alike. At 10 p.m. on November 8th, India’s Prime Minister Narendra Modi announced that on the stroke of midnight all 500 and 1,000 rupee notes — 86% of the currency in circulation — would cease to become legal tender.
Modi’s demonetization maneuver was a “shock doctrine” tactic to dismantle the cash-centric black market, to cleanse the country of counterfeit notes, to further digitize the economy, and to get more of the population onto the formal, taxable economic grid.
Demonetization will hit the economy
The demonetization of the 500 rupee note and the 1,000 rupee note—the two highest currency denominations available in India—will likely hit the economy hard in the short term. The surprise move is expected to grind the consumption activity in the Indian economy to a virtual halt. The service sector, which dominates economic activity and involves a sizable chunk of cash transactions, will likely be hit the hardest.
India’s economic growth
Growth in the Indian economy remained solid in the quarter from April to June 2016 (the latest available). In India, a financial year begins in April and ends in March of the following year. The previously mentioned quarter is the first quarter of fiscal 2016–2017. During that period, the GDP (gross domestic product) rose 7.1%, while the GVA (gross value added) rose 7.3%. The relationship between the GDP and GVA is:
GDP = GVA + taxes on products – subsidies on products
The base year for calculating the GVA is 2011–2012.
The fall in economic activity due to demonetization could last from two to three quarters. As a result, GDP and GVA growth in the quarters from September to December 2016 and January to March 2017 could be significantly lower than previous years. Some bounce back should be seen in the first quarter of fiscal 2017–2018. In the medium term, the Indian economy can grow considerably after curbing the debilitation caused by counterfeit money and an increase in economic activity.
A fall in discretionary consumption will hurt companies operating in this space (TTM) (VEDL). However, a rise in tax flow and lower interest rates, are expected to help the Indian economy (PIN) (EPI) (INDA) grow stronger.
In the next part, we’ll discuss how demonetization could impact inflation in India.
Modi’s plan called for the canceled notes to be replaced by new 500 and 2,000 denomination notes, but these were slow to be circulated, and India — the most cash-dependent country in the world — suddenly found itself without enough cash to run its economy.
As the clock ticked down to midnight on November 8th, a huge portion of Indian society instantaneously found themselves stripped of the ability to interact economically. Up to that point, upwards of 95% of all transactions in India were conducted in cash and 90% of vendors didn’t have the means to accept anything but. On top of this, 85% of workers were paid exclusively in cash and almost half of the population didn’t even have bank accounts. Even Uber accepted cash payments.
Dr. S.B.Mujumdar, Founder of Symbiosis, was convinced about the potential of Tele Communication & felt it was wiser to organize the courses under a new institution. This is how Symbiosis Institute of Telecom Management (SITM) came into existence. At the time it was established, SITM was the first of its kind in India & first such experiment in Asia.
SITM has over 1800+ alumni who are making their mark in the industry as Business and Technical Consultants, Network Managers, Project Leaders, Business Development Managers to name a few. Senior batch alumni are holding senior management positions such as Heads of business units, Country managers, Vice Presidents of functional areas, and so on. Large numbers of alumni are working internationally and are based outside India in various regions.
Students at SITM are part of a techno- management business school that has remarkably evolved into a center for learning and excellence in the Information and Communication Technology (ICT) domain. It has made its presence felt in the ICT industry with over thirteen hundred alumni, tirelessly contributing to the growth of organizations throughout the ICT value chain in India and abroad.
In the 2 years a student spends at SITM, his abilities would be put through various tests which would eventually refine him into not only a telecom business leader but also a “good citizen” with high moral values.
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