World Colleges Information

Business and fun doesn’t collide. But, while at B-school students often get the opportunities to use both the same word in the same sentence. To leave a mark and make it big in the corporate arena or the business world the main trait a student needs to have is to be an all-rounder. Being jack of all trades is a must. Though, Masters of Business Administration is a professional course through and

through, but unlike other courses like medicine and engineering this professional course requires you to be more proactive and acquainted with the world around you. Being good only at business will not be enough. In order to gain an edge over your competitors and peers one needs to be a social being as well. Most graduate business school nationally as well as in the global front want well-rounded candidates. Highlighting

extracurricular activities allows you to exhibit soft skills, or how effective you are in the “real world,” outside the classroom and workplace.

Edge over others:

The need to fl aunt your extra-curricular skills start way before you join a B-school. While screening application, folks at business school give a considerable amount of weightage to extra-curricular activities. A premier school and the admission offi cers don’t rely on entrance exams scores, work experience and grades alone. In order to select good quality students, they closely look at the candidates’ intellectual talent, personal qualities, leadership potential, engagements at community services and other extracurricular activities to gauge them. Being good at something other than your work speciality proves that you have a versatile personality. Hobbies and extra-curricular indulgences showcase your curiosity and openness to experiment and explore.

Showcase your talents:

Students with accomplishment other than that of academics are often favoured by both the B-schools as well as the employers. The concept is that, while it is easy to get students with good grades and scores, it is difficult to get someone who is an all-rounds with varied talents and interests. One should be very careful in jotting down or listing out their talents either on the resume or to the employers verbally. To gain maximum mileage out of your extra-curricular activity students should emphasize on activities that showcase their multi-tasking capabilities and leadership quality to begin with. One you mention the activity, be ready to talk about the task and your respective contribution to in extensively and in details.

Talk about what you did on a personal level to make a positive impact or to make a difference in general. However, do not go overboard and personal with the information. The information needs to be relevant. While showcasing your talents and interest make sure to steer clear from a religious remarks or political affi liations which might offend others. Though mentions of extra-curricular activities bring a whole new dimension to your application and you personality, it needs to be relevant, true and relatable. Do not fake passion or a hobby. An experienced recruiter or admission officer will find out in no time.

Traits to flaunt:

Apart from the mundane information on your application or your resume that includes your educational qualifi cation and work experience, experts opine that adding your hobby or extracurricular activities and talents provide structure and texture. Addition of fun facts like interest in stamp collection or interest in zumba or mention of fantasy football will instantly jazz up your resume. It adds the vibrancy to your otherwise bland resume. Other than this, exchanging in activities other than work shows that you can commit. It’s a refl ection of traits such as reliability, dependability and commitment. Organisation skills is another quality that comes to the forefront with the mention of extra-curricular activity.

Pointers to fluff your profile:

When it’s all said and done, and it fi nally boils down to picking the right candidate from a sea of similar resumes and application it is the involvement in interesting activities and hobbies that make all the difference.

A track record or just a mention of your non-scholastic engagement or a social interest can be a big plus. But, before you go on a rampage and

"B-schools as well as the employers. The concept is that, while it is easy to get students with good grades and scores, it is diffi cult to get someone who is an all-rounds with varied talents and in-terests. One should be very careful in jotting down or list-ing out their talents either on the resume or to the employers verbally."

list out everything and anything that interest you, do your research. Every organisation is different and hence would look for different traits in an individual – so read up and showcase your choices accordingly. If you think your resume or application needs an extracurricular make-over here is what you can do:

Quality over quantity:

It better to have one particular hobby and be extremely devoted to it than have many and not be devoted to any one in particular. Emphasizing on the number of activities rather than quality might have the exact opposite effect than intended.

Don’t be late:

If you haven’t had any interest or hobby or haven’t participated in non-scholastic activities than don’t start in the nth hour. As mentioned earlier, a recruiter or admission authority can sense fake input in a jiff, and such negativity might then become irreversible.

Pick something personal:

Don’t put something on your resume just because it complies with the admission criterion. Add it, purely because it resonates your values and your personalities.

Doing so will refl ect very positively on your resume and you will be able to handle the interview question with more ease and enthusiasm.

Communicate your character:

Think beforehand as to what characteristic your extracurricular will enhance or portray. For example: your dedication to participating in city marathon will be more positive than your indulgence in wine tasting. Though both might be a laudable trait, the former will speak more of your dedication and discipline.

Stand out:

The plan here is to be unique. For example, a recruiter from the US while on her hiring mission to India said that ‘every Indian candidate has cricket jotted down as their interest or passion. While, cricket is a good game and showcases the person’s dedication and team spirit, it however is way too common. But, in such a sea of resume if a candidate showcases interest for golfi ng or football, it stands out and catches my attention.’

BUDDING MANAGERS

NOVEMBER 2014 ISSUE

The other day I ran into an old friend of mine, a computer science professional working for nearly half a decade with a popular information technology company. The moment she said she had quit the job last year, I took it casually. Thought – fair enough, must be in the family way, must have shifted, must have been bored – she is affluent enough to support herself and the job was an extension of her higher studies! But when we sat down over a cup of coffee, I found certain surprising facts. It was the moment of truth. She gave up her six-digit-salary job because she couldn’t find it right to continue or was it satisfying. Veena –that’s her name, has always got whatever she wanted in life. She confessed to me it was professionally unsatisfying because she couldn’t bear the rut anymore. Especially, when there was so much inequality around. She once visited a rather non-descript NGO housing underprivileged young girls as part of the company’s corporate social responsibility event. While her friends waited for the day to get over, Veena found it difficult to comprehend the dynamics of the society she was living in, she pondered on it for a while and much against the will of her

"We’ve had great leaders that way ranging from the evergreen example of Mahatma to the current Nobel awar-dee Kailash Satyarthi. Both quit their jobs for the sake of higher ideals, for setting the scales right. There is a pattern emerg-ing – the frequency may be bizarre, the modulation may be random – but the tune they are they are setting is the ges-ture of giving back."

family, quit her job and joined the NGO. The money she made out of this was nothing. She said she was very happy though.

It is not every day that we hear a story of this sort. In fact, this meeting happened two years ago. It has set me on thinking.

After this I happened to hear similar stories – actually a couple of them. What made these marketable engineers and management graduates make such drastic decisions which altered their lifestyles completely? Is their love for the socially underprivileged overpowering their personal choices of job security and good salaries? Are am I blinkered and looking only at exceptions?

India is a country where more than half of us do not enjoy the fundamental rights provisionalised by our constitution. Though education is considered to be the only possible tool for bringing in equality, the standard of education which is accessed by different economical groups here varies, which accordingly decides their future and of course their salaries. This again affects the next generation where there may be a handful of outliers and change their course of fortunes. And there are those who want to set the scales right and do the minimum they can by giving up their mainstream interests and looking at the ‘others.’ We’ve had great leaders that way ranging from the evergreen example of Mahatma to the current Nobel awardee Kailash Satyarthi. Both quit their jobs for the sake of higher ideals, for setting the scales right. There is a pattern emerging – the frequency may be bizarre, the modulation may be random – but the tune they are they are setting is the gesture of giving back.

These sung and unsung heroes are garnering a quiet revolution unbeknown to the stakeholders or rather the state holders and are making an impact. Yet, what disturbs me most is why just this handful? Can’t there be a balanced approach where you work for yourself as a professional and contribute to the cause of the society too? Should we not make it part of our lives, part of our professions to identify and support those who need it.

Instead of corporate social responsibility being a namesake or an annual event, why can’t they be an integrated course of activity providing chances to those who are motivated enough but just don’t find the time. If we talk about social equality all the time and talking is all we do, then we’ll stay on square one always.

Every educated individual should look around himself or herself and do the little they can. They can teach a child, just talk to the young and even provide solace to the needy just through gestures. These are the giving back ideas we are talking about and not mobilising huge funding for these causes, which are apparently thought to be the only giving back. Just key in and you will be surprised to find out the number of NGOs in your own city all started by single individuals like Veena. They have laid down their lives for the cause of others.

They are out there battling alone with the sustenance of a few philanthropists. What harm can come if we reach out to them? We have been privileged enough to take so much from the society, sometimes even at the cost of others unknowingly, is it not fair enough to give it back sometime? Gradually, little by little - don’t panic and make it a habit so that you don’t have to quit. By this I believe you can have the cake and eat it too!

BUDDING MANAGERS

NOVEMBER 2014 ISSUE

Sometimes, being at the right place at the right time just isn’t enough. The key is to be meet the right person at the right place and the right time. While going to right business school and reading the right business headlines and even donning the right business attire might be a wise corporate move, it would still be in vain if you don’t know the right people to get the right job. Networking is the golden word. Making acquaintances and meeting and greeting the right people in the corporate market is an essential aspect.

The right traits

The traits and talents required in other to successfully network are umpteen. Confi dence and a solid command over the colloquial language is a starter. Effective communication and thorough knowledge of the subject will take you a long way and also fi nd you favours from the right people in terms of networking. It is very crucial to expand your network or circle of acquaintances when you are looking out to launch a career or get a job. To do so, the best means is to get noticed. Get out there and be visible. The idea is let as many people as possible know that you exist in the corporate arena. Stay positive, and read up a lot. Everything that you were taught in your esteemed B-school will be put to practice from the time you start networking and reaching out. Build business relationships to familiarize yourself with the current corporate market. Stay open to new ideas and be ready to learn. Every individual that you come across can be a potential resource and bearer of essential business, personal or professional knowledge. Learn to be proactive and be well informed. In order to be remembered and appreciated, you need to able to impress the concerned person.

The right place

To make friends and gather contacts, your approach does not have to be completely formal initially. Social get-togethers and informal meetings such as the corporate or even social clubs have proven effective to build lasting liaisons. Once employed the connections you’ve made and the network you’ve created can make you an enviable asset when compared to your other colleagues. Getting on to the social network to meet and greet people is also a good idea. Social profi les and accounts can also be a medium to understand the particular corporate or offi ce. You can judge and outlay the temperament of an individual based on their profi les on social networks such as Facebook and Twitter. A more proper, formal and well connected portal to network and met people is Linkedin. It is often used by potential recruiters to hunt for candidate. If you are looking to meet people or employees from a particular sector and company, than Linkedin is a great place to start. Networking should not be done with the sole purpose of getting a job or a promotion. If you are a bloke with old school habits then turn to the good old yellow pages to call and set up appointments. Sometimes a phone call made at the right moment to the right person can make all the difference.

The right people

A good corporate player should network among their peers and folks of similar cadre. Doing so will give you an insight into alternative professional thoughts. Start by meeting like-minded people, it will give you a better and brighter perspective on things. Remember that personal relationships are crucial. People like to work and do business with those who they like and trust.

The motivation to network shouldn’t be for the sake of self-improvement, but for mutual growth. Personal relationship is a human need and is often considered as an essential catalyst for success and growth. When you become acquaintances or employee the goal should be to grow with the organisation and act as a useful resource. The relationship should be productive. Networking provides the platform for a profi cient and tactical relationship building. To leverage from networking, one must stay in constant touch. Business contacts should be made in order to understand the nitty-gritty of the corporate workings and to learn the dynamics within an organisation. Make sure that you facilitate a win-win relationship through networking, because just like you, the other person is also establishing contact with you in order to benefi t and simultaneously grow. Networking is a means to create a solid referral portfolio and to accelerate your professional development. Being a known name and the face in the company has its own assets.

Remember that networking is the best and most effi cient means for knowledge resourcing. When at a party or corporate do, make sure to introduce yourself to everyone in the room. Irrespective of the designation or the industry they belong from, every individual you will meet is an asset in some way or the other. Leave no hand unshaken. With the boardroom scenario evolving and corporate culture changing, the strict code of authority is diminishing. The clear cut line of authority and the steadfast rule of power has faded. In today’s corporate houses, every individual is important. And how well an employee does his/her job and how swiftly or quickly they get promoted or recognised depends solely on their individual networking skills. The purpose of networking in the corporate ste up or otherwise if to maximize opportunities for all the people involved.

For remember, as the old idiom says ‘It’s not what you know, but who you know’

BUDDING MANAGERS

NOVEMBER 2014 ISSUE

Indians are extreme convenience seekers. They spit, throw trash and urinate on roads and in public areas as they don’t like to exert themselves in finding the right place for these activities. We would rather save ourselves the smallest physical trouble, than exert a bit more for the sake or order and cleanliness, or other civilized behavior.

The question is how we can put an end to this? - Through actual cleaning initiatives ? or public awareness programs ?

After successful Mars Mission in September 2014, a month later in October, on the occasion of Gandhi Jayanti, Clean India Mission or ‘Swachh Bharat Abhiyan’ was launched to make India clean by 2019, to coincide with the 150th birth anniversary of Mahatma Gandhi.

While the success of Mars Mission made every Indian proud as it put India into the elite club of interplanetary nations, in the matter of hygiene, India remains at the bottom of the ladder. Many critics criticized the Mars Mission on the grounds that this money could have been spent on health, hygiene etc in an underdeveloped country like India. There is no doubt the Mars Mission was highly important and marks a  critical feet in the Indian space history, but if Clean India Mission becomes successful, it will be a much bigger achievement for INDIA, as it will silence these critics.

India›s fast-growing towns and cities are littered with rubbish. Most rivers and lakes are polluted with sewage and industrial effluents. No amount of growth and development can make India shine if the blot of filth cannot be removed which can be seen anywhere and anytime in India.

Over the years, many organizations have attempted to start such a program. A major reason for the failure in these projects can be attributed to the socio-cultural set up in India where cleaning is considered to be the

task of particular caste or community and as an individual achieves higher social status by virtue of education and money, things like cleaning our surroundings are considered to be menial and shameful. It’s ironical that we are not ashamed of littering public places but ashamed of keeping them clean !

In order to make this mission successful, we have to rise above the social stratification mindset of medieval India and take up the responsibility for cleanliness. This is what Shri. Narendra Modi has done. He has picked up the broom and started to propagate the ‹cleanliness movement ‹ himself. The objective of the mission is to make the cleanliness a habit of every Indian and it is not an exclusive responsibility of a particular group. In order to make this point clear, almost everyone in the government, right from Prime Minister to a clerk in hierarchy participated in cleaning across the country. Elites don’t do the menial tasks, but the greats don’t consider any task menial.

Full public participation is the most essential requisite for the success of this mission. Other measures announced to make the mission successful include grant of INR 2 million each to over 2, 47,000 village panchayats across the country. The money will be provided from a fund announced by the government for Clean India Mission over a five-year period.

Government has set up a Swatch Bharat Kosh (Clean India Fund) to attract funds from corporate and individuals to improve sanitation facilities, particularly in schools. Apart from this, measure like putting garbage bins at every hundred metres, public toilets at every kilometer will also help in keeping the roads cleaner.

According to the United Nations, around half of the India’s population defecate in open putting people at risk of cholera, diarrhoea, dysentery, hepatitis A and typhoid etc. According to a recent study by World Health Organization (WHO), lack of hygienic conditions and cleanliness cost around INR6, 500 to each Indian every year. The World Bank in 2006 estimated that India was losing 6.4 percent of gross domestic product annually because of poor sanitation.

The benefits of Clean India are not restricted to the health and hygiene benefits but it has several other benefits as well. There is no element of doubt that a clean environment will ultimately lead to a healthy environment. A healthy environment will be able to sustain a healthy population which means a higher productivity of the labour leading to overall higher productivity of the economy.

Clean India Mission would also immensely benefit tourism in India. Cleanliness will definitely increase the foreign tourist arrivals in India as foreigners are very particular about cleanliness and hygiene. Tourism is very employment elastic industry and growth of this industry will definitely assist in generation of additional employment. It would also affect several other industries indirectly like hotels, transportation etc.

Apart from this it would also bring in the foreign exchange will positively affect the lower strata of the population.

As the clean India will help in saving the additional GDP of around 6.4 percent, it tantamount to an additional saving of 6.4 percent which could be invested in critical sectors.

Thus it will help in boosting economy, image building of nation and building investor’s confidence etc. Focus on cleanliness would also help in development of clean development technologies which would further help in keeping the environment clean.

No matter how menial task cleanliness may look, it has great potential for changing the fortunes of the country.

Once upon a time, opening a retail store was considered as a business venture of lower middle class but now several multinational corporations are lining up for the same. Walmart has become the Fortune 500 Company by opening retail stores across the world. In the same fashion, however small cleanliness may look at its face, it also carries immense potential to change the fortunes of India !!

Prime Minister Modi has laid a lot of emphasis on cleanliness and the very reason he launched the Swachh Bharat Abhiyan. In fact the first task done by Modi was to get his office clean, when he swore in as the PM and the cleaning was undertaken by the actual office staff. Likewise, this movement envisages a clean India through participation of every Indian. A lot of suspicion prevails over the success of this campaign, as many are arguing that until the attitude and mentality of people change no campaign can clean India. So, should government have launched a mass awareness mission to change the mentality prior to Swach Bharat Abhiyan? is probably the next debate.

A general poll was conducted and here is what people had to say about ‹mass awareness› programs and whether they were more important than he movement itself:

(Please Put a nice bar graph chart )

Yes: ( 78% )

78% expressed that awareness is the key and here is a gist of their collective opinions: -There will be no expected participation unless people’s attitude towards cleanliness and its importance changes. - Indians generally cares very less about hygiene.

Most of them even spit where ever they want, as they are unaware of the health implications. Their habit will not change unless they are aware

Workers indulge in cleaning jobs hardly gets any respect within the society. Most of them are from Scheduled casts. Unless the mentality towards these workers and their job changes, we cannot expect the mass participation

People keep their home clean, but when it comes to surroundings like streets, parks etc. nobody cares because they perceive it as the duty of government even though they themselves are responsible for throwing garbage and making their surroundings dirty.

No: ( 16 % )

About 16 % were in strong support of the movement and said that a separate awareness movement would be redundant in this scenario. Their opinion is captured in the points below:

Launching this mission with active participation of PM, ministers and officials itself motivates citizens to participate.

The mission highlights the importance of cleanliness very well and making them aware is an integral part for this mission.

The issue of cleanliness was not given enough priority during the last many decades. This campaign will prioritize this issue.

We cannot wait for changing mentalities and attitudes as burden of health diseases on the economy due to lack of cleanliness is increasing.

Most importantly, taking action for making India clean through this campaign itself is the first necessary step towards realizing this dream.

Can’t Decide ( 6% )

A few people opined that nomatter what initiative is undertaken it will not be long lasting and some weren’t interested to take sides.

MOVEMENT PROPOGANDA:

Another interesting thing about the movement is the way in which it is made to reach the public. The initiatives of propagandaas ingenious themselves as it is majorly targeted at the Doers rather than the mere Sayers !

It has been modeled in the ‘ice bucket challenge’ fashion and is believed to spread through a human chain where a set of people nominate a few others to take it up openly through social media.

Many ministers of state have supported the movement and have contributed to it in their own ways. Let’s look at some of these supporters and their value additions to the program .

Modi going the ‘ice bucket challenge’ way, embraced the social media campaign to get a larger reach and voice for the movement. In an interview Modi said: “I have invited Goa Governor Mridula Sinha, Baba Ramdev, Shashi Tharoor, Kamal Haasan, Salman Khan, Priyanka Chopra, Sachin Tendulkar, Anil Ambani and the entire team of Tarak Mehta Ka Oolta Chashma. I expect them to further extend invitations to nine more,” he said. “Social media will bring about a revolution in this cleanliness drive,”

The actors/ ministers and the public have responded in a very positive way to this movement and have spread awareness in their own small way. Lets glance at a few interesting participations of these public figures.

Active Support by Actors :

A lot of Bollywood celebrities have joined PM Narendra Modi’s Swachh Bharat campaign and recently, Amitabh Bachchan extended his support to the drive.

The veteran actor was seen with a broom sweeping the streets and even picking up collected garbage. Dressed in a tracksuit, Big B set an example of cleanliness for his fans. He also posted on microblogging site, twitter, “It was ‘Swach Bharat Abhiyaan’ .. went on the streets and broomed and collected dirt to clean up the place. The ‘Swach Bharat Abhiyaan’ .. personalised !! Let everyone deserve to be involved.”

Actors like Nagarjuna and Hrithik Roshan also took up the initiative voluntarily and urged their fans to follow.

The Success of this mission lies only in the hands of the public. It is we who need to think before dropping off litter in public areas. If every one of us pick up the brooms at least in our minds - ie. think before dirtying public areas, We will make ‘Bharath’ ( INDIA) swatch( Clean ) and ‘Surakshith’ (Safe) for our progeny !!

                                                                                                                                                             Jai Hind !

BUDDING MANAGERS
NOVEMBER 2014 ISSUE

Rotary International is essentially 1.2 million neighbors, friends, and community leaders who have come together to create a positive, lasting change in our communities and around the world. Rotary is made up of three parts: at the heart of Rotary are the clubs, that are supported by Rotary International and The Rotary Foundation.

Rotary clubs bring together dedicated individuals to exchange ideas, build relationships, and take action.

Rotary International supports Rotary clubs worldwide by coordinating global programs, campaigns, and initiatives.

The Rotary Foundation uses generous donations to fund projects by Rotarians and our partners in communities around the world. As a nonprofit organization, all of the Foundation›s funding comes from voluntary contributions made by Rotarians and friends who share the vision of a better world.

Together, Rotary clubs, Rotary International, and The Rotary Foundation work to make lasting improvements in communities all around the world. On understanding the basic structure of this organization, we wanted to explore one such club in our city, and our search lead us to ROTARY Dist 3230. District 3230 is situated in South India comprising of five revenue districts Chennai, Kanchipuram, Thiruvallur, Vellore & Thiruvannamalai. There are 118 clubs in this Rotary District, Out of 118, 65 clubs are in Chennai remaining clubs are in situated in kanchipuram, Thiruvallur, Vellore & Thiruvannamalai revenue Districts.

The Dist 3230 is headed by Rtn.I S A K NAZAR. Rtn. Nazar hails from Thirunalvelli and is a graduate of Science and has a post graduate diploma in marketing Management.

Leadership has always been a second nature tor Rtn.Nazar who started off his leadership roles right at school as the ‘School people Leader’ , Chairman of the College Students’ union and a Senior Under officer for NCC for two years in college. He was one of the 30 Senior Under officers selected on a National Level for a one month Defense leadership program at Madras Regiment Centre, Ooty, Tamilnadu.

Rtn.I.S.A.K.Nazar is the Promoter and chairman of Manna Group of Companies, Manufacturing and Marketing Natural health food products in the brand name of MANNA. The group has All India Network with over 300 dealers. It is an Iso 22000 and HACCP certified group and a recognized Export House.

Rtn.Nazar joined Rotary in 1994 and was the President of the club in 1998-99,bagged the Best President of the year award and won the coveted Rotary All Round Golden Trophy for the Club. Rtn. nazar is presently the member of Rotary Club of Anna Nagar

Under the able guidance of Rtn. Nazar, the club has undertaken many successful campaigns. A few of them are as below:

CAMPAIGNS:

The Dist 3230 Collected funds of over 20 Cr pa cumulatively. The club sourced 1 million Rs fund and 3 truckloads of material for Jammu & Kashmir relief operations

The tsunami relief was also greatly funder by the club in addition to volunteer assistance in this cause

Many NGO and other deprived organizations are regularly benefacted due to the club.

Has provided medical care and funds for many war affected areas in Sri Lanka.

The most recent initiative is called ‘ MY FLAG MY INDIA’. A phenomenal event which is expected to awaken the sense of patriotism in everyone.

‘My Flag My India’, plans for the worlds largest National flag which will be formed by more than 50,000 enthusiastic Indians is scheduled to rollout on the 7th of December, 2014 at GST road, Vandallur in Chennai. Initiated by Rotary International District 3230, this truly unique, mega national event aimed for a social cause was announced today at a grand gala event in the presence of the chief guest, The Governor of Tamil Nadu, Honble Dr. K Rosaiah, RI District 3230 - District Governor, RTn. I.S.A.K.Nazar and Chairman Rotary Days, RTn.Mohan Raghavan, along with prominent corporate leaders, renowned film celebrities, Rotarians and other dignitaries Organized by Rotary Inter national District 3230, this nationalistic initiative is a gigantic platform for numerous, proud and spirited Indians to explicitly brandish their commitment and dutiful responsibility towards their country, with a feeling of true pride resonating within. Welcome to people with varied walks of life, this extraordinary concept will instill a real sense unity amongst diversity.

This remarkable movement will make full use of the proceedings collected by supporting various key social causes such as health, education and community development, thereby inheriting a sense of belonging to the society with care. Chennai is sure to witness an epic moment by creating history through Rotary My Flag My India, wherein a sense of social responsibility is sure to reverberate soundly in the hearts of many.

Speaking at the announcement of Rotary My Flag My India, Rotarian I.S.A.K. Nazar, District Governor, RI District 3230 said, « Rotary being an International service organization is conducting this Human chain National Flag to reiterate the importance of our nations values and principles.

This event will witness participation of various age groups, backgrounds, and geographies of India which will showcase unity of the Nation, the love for our county and the care for the society. I thank all our Rotarians and our execution partner Quanta G for conceptualizing this mega national event in Chennai with a cause and look forward to support from each citizen of India, which includes corporate houses, prestigious brands and other influential personalities «

An intercept from his recent interview.

The Rotary club is an exemplary organization and instills many human values in its members and associates. Some of the key takeaways of being a Rotarian are:

1.It lays the foundation for leadership qualities in an individual

2. Follows the concept of ‹ first among the equals›

3. It acts as a platform to meet and interact with various world leader

4. It inculcates the ‹ Art of Giving›

5. Unifies cast, creed , religion and creates a feeling of brotherhood.

6. Imbibes helping attitude into young members ( annets ) from an early age.

7. Brings social awareness involving individual and their families.

The Dist 3230 has witnessed enormous growth in terms of achievements and planning under the wise leadership of Rtn.I.S.A.K.Nazar. A great number of successful programs under his valued guidance speak volumes about the club and its efficient functioning. Just as the rotary has achieved a historic landmark by helping the nation to eradicate Polio, we wish that our district also finds huge success at a national and international level. We wish the club to find great luck in all their future endeavors !

BUDDING MANAGERS

NOVEMBER 2014 ISSUE

Fifteen days later our pockets feel much lighter and yes, we would have paid off , all our monthly bills and commitments and we promise to our self, “ This month, I am going to SAVE. No matter how small the savings is. “

But at the end of every month , there is something that is waiting just to empty every last rupee that we have. Be it a friend’s birthday or parents/spouse’s health or some unexpected expenses due to kids, money doesn’t seem to last. How can we tackle all these and still save something? Is saving realistic for everyone?

We have a few clever answers which will help everyone of you to improve your saving ability. Compiled below are 12 evergreen ways to save that your should always remember.

1. Prepare and stick to a Budget:

As clichéd as it may sound, having a budget for your monthly expenses is a must. It helps a lot to curb and control the outflow. Also, in the budget make a compulsory provision for savings and then from the balance, chalk out a monthly budget. From your salary keep aside 10% as savings and whatever 90% remains, that should be your disposable income and not the other way round, where you spend first and save later.

2. Compare and Bargain:

However down market it may sound, bargain. Bargain as if it’s your birth right. Everyone has margins when they sell and in today’s scenario with slow economy, they will go the maximum length to get the sale closed as soon as they can. Also it’s easy to bargain as you can compare prices of stuff online on various websites from fl ipkart, ebay, olx, quickr and lot more. Even if you do not like online shopping, keep the prices handy and when you visit a store, ask them that this is the price you are getting online; even in case of large showrooms.

They may not offer you that much, but will surely bring down the prices by 5-10% or add some bonus stuff in the deal.

3. Brands, do you need to fl aunt them all the time?

Saving money in India can be a lot easier if people stopped running behind brands all the time. There’s nothing wrong in liking brands, however it’s OK to indulge once in a while, but not always. Avoid brands for your day to day clothes and accessories and go for less expensive ones, for consumer durables or stuff like furniture ask around if someone knows some wholesaler as they will have the same stuff for much cheaper prices. Also you can always pick them up when they have end of season sale and save big money.

4. Shop with a list:

Whatever things you might need, make a list of it and only then step out in the market to buy and not the other way round where you go and see what’s available and keep buying. This money saving tip will help a lot to cut down your monthly expense. There are retail stores and supermarkets everywhere these days and a lot of things are displayed. This will tempt anyone to try out new things or purchase stuff they do not actually need. Just stick to the shopping list and only buy the things you have written. This will keep you in your budget and also avoid unnecessary expenditure on un-needed stuff.

5. Postpone purchases, look out for sales:

An important money saving idea is postponing something you want to buy. Postponing your purchase will give time for the impulse to die down and rational thinking to takeover. Once you know your budget and have also made a list of essential stuff you need in a month to survive healthily and decently, extra purchase should only be made if you have the spare money. And this does not include the compulsory savings that you should be putting aside every month as explained above. Save for the new stuff, whatever it is, and only once you have saved for it, purchase it. Also if you feel like you just want to have the latest gadget, fair enough, but wait for a couple of months. The price falls soon for these things.

Also now we have sale everywhere every 3 months. These are not just on clothes but on everything from gadgets to home appliances etc. Save for them and make your purchases during this time. But again remember to not go overboard and stick to your needs and not wants.

6. Buy in bulk, check a retail departmental store:

Stuff like groceries and other items that you will use throughout the month should be bought once  and in bulk. Bulk purchase may entitle you to get lower prices, for instance a can of a litre of oil will be cheaper compared to a sachet of 250-500 grams. Also check out departmental stores and supermarkets as they usually have discounts and offers on bulk purchases like cash discounts, one on one free, lower than MRP price and stuff like that, which will lower your monthly expenses to a good extent.

7. Consider online shopping:

Internet has its share of advantages and apart from adding convenience in our lives it helps to save money too. There are lot of sites that give out free coupons and special offer codes for you to purchase stuff at leading online ecommerce sites. Google for coupons and discounts codes and use them to make your purchase online. Moreover stuff that you are looking for be it shoes, magazines, toys, gadgets, furniture etc. all is available online, and you can inspect them and only pay once you are satisfied with the cash on delivery option. These will be lower priced than in any showroom and most of it would be even half of it.

8. Use loyalty cards instead of credit cards:

Another important part of disciplined money saving is ditching the credit and using debit cards or cash or cheque for payments. This will stop you from buying stuff when you do not have the money for it or can’t afford it. Also opt for membership or loyalty cards of various stores as they are free and will add points to your cards on every purchase you make, that you can redeem later on by getting that amount deducted on future purchase and save money that time.

9. Prepaid Mobiles and Movies on a weekday:

Getting a prepaid mobile connection will in a way put breaks on your talk time and result is lower outflows. Post-paid connections can result in long bills at times, but in prepaid connection, if you crossed your amount you would know how much you are using and the outflow while recharging it every time will teach you control your mobile bills.

Also catch a movie on a weekday evening instead of weekends as prices are almost double on weekends. If you have to go on a weekend, try doing it before noon as you will get lower ticket prices. Avail of those one on one free ticket offers if you have that option from your mobile service provider.

10. Walk, for your own and financial health:

Humans should walk at least 10,000 steps a day to be healthy, says a study. Well I don’t know about that but walking to nearby areas can be healthy for you and your money. Autos and taxis are insanely priced these days and it can be a good exercise to walk to the railway station or bus stop if it is within a kilo meter. And it’s good for your health too. Even if you have a vehicle, petrol or diesel aren’t a cheap commodity either.

11. Set aside cash for 3 months worth expenses:

No matter how hard stringed you are, just be a bit more hard pressed and save some cash for at least 3 months worth of expenses to meet any eventuality and have funds as a back-up. You may not need it ever but still it is there in case you would. Do not touch this fund for any reason. Whatever shortfall you have, adjust it from your lifestyle and curb unwanted expenses. The 3 month fund can be handy if you were to lose your job or there is some urgent medical emergency or anything.

That time you will thank your own self that you saved.

12. Start investing:

Most importantly, mere saving will not grow your money. The saved money should be invested to really unlock the potential of these savings. All your savings apart from the 3 month contingency fund should be invested in diversified ways.

Do follow these and let us know, how well they helped you !

BUDDING MANAGERS

NOVEMBER 2014 ISSUE

The Zero-Sum thought...

It seems an abstraction to say “Life is a Zero Sum game” which is played with one losing and one winning at the cost of another!

Taking a deeper understanding into the concept of Zero Sum game of Life, my realization of it is that it isn’t true. In this article, I am instigating my write completely to focus on women who have had worked and took a break or are having the desire to take up work after fulfilling the role of being the nestling empress,

"Life isn’t a Zero-Sum game for those who have the ability to make wise choices. And that is more critical and essential here. And so ‘at the cost of another’ aspect helps you to design and develop good working strategies for choosing a win-win decision."

and also for those who are into career and would sooner or later enter the foray of being the sole nestling support at the domestic front. Thoughts about your dreams, desires, and aspirations made for your career would be all put in the back-seat for a while! And this is quiet natural. Embrace and cherish this phase of life with an abundance mentality of you providing abundantly to the family. Now, if you decide it’s time for you to come back to the career – a career re-entry or may be a career start-up (for the first time), whichever the case maybe, there lies an incredible sense of fear and scarcity mentality with all women. By scarcity I mean a sense of lacking (no way out or no opportunity), or regret (stigma of society, will I compromise on either aspect) or guilt (losing one for the other). Am preparing to lay down few critical realities by which I wish to see the women to make wise choices.

Each day our life consists of our family, career, health and fitness, recreation and leisure. As a woman, her role is multi-dimensional in many aspects of life in supporting people around her. All these I say are hard to face but easy to write! Yeah, it`s pretty much easy to pen the roles and the calculus of the work-life that a woman aims to establish with a non-zero- sum mentality!

Is life a Zero-Sum game – the innate fear..

Life isn’t a Zero-Sum game for those who have the ability to make wise choices. And that is more critical and essential here. And so ‘at the cost of another’ aspect helps you to design and develop good working strategies for choosing a win-win decision.

While re-creating the career, a woman`s major fear becomes obvious in her thought that ‘excellence in one aspect would come at the cost of another (a zero sum mentality)’ This pushes her to believe that one thing must suffer at the cost of another – If I enter into career back after the nestling phase, I may lose excellence in any one – either career or my domestic front.

There are a clan of women who wants a re-entry to career after a break and those who wants to craft a new entry to the career world after many years of nestling family. In whichever scenario, there is an urge in the women to prove her without a regretful mind of losing one for the other, making excellence in one while losing the other. This very thought of regret and a Zero-Sum view of win-lose pushes her to stay away from making the plunge into the career back again or to make her own choice!

Synthesize and Harmonize..

But, in real that will not be the case when you are capable of synthesizing both career and life, as a result both these parts in contrary to disrupt (as feared) would begin to support one another. I strongly believe that wisdom and the ability to harmonize makes you gain every aspect of your life in the choices that you make. Then is the realization that life isn’t a zero-sum game rather it offers a wide array of opportunities to grow and progress and even help achieve excellence in every aspect (in contrary to what was feared)

The triangular affair or a harmonious relationship..

The threat here is the ‘Zero-Sum Game’. Many women, whom I interacted with, have the regret of being a ‘stay-at-home mom’.

The underlying reason for their regret is that they believe life is a zero sum game, the fear of losing the excellence of one at the cost of other. It is perceived to be a triangular love affair (between the woman, her home, her career) in which one wins and one loses. Rather, why not this affair be scaled up to a higher level of a harmonious relationship of the three – Woman, her home and her career where all the three co-function collaboratively for the success of all aspects. This makes it a win-win-win.

Life isn`t a Zero-Sum affair..

Many of whom I came across have built a scarcity mind. Because of which they feel that there is a lack in life, the opportunities are few and far beyond reach. This is the reason for the woman`s unnecessary fear, anxiety, regret and desperation. In the contrary, if you are a woman of abundance mentality, there are always new chances and opportunities. This relieves much of the stress and regret you may erstwhile feel if you have a scarcity mentality that pushes you to one corner with no open doors.

Be happy over what you did or are doing right now or are planning to do in future. It is not about starting back to work 50 hours a week. But it is about having and making a choice to do what you want to do and to do it with the support systems favoring your calculus of work-life. The success you weigh depends on how you measure your happiness and accomplishments. Forget about the stigma that is tagged to the woman who tries to pursue a career of her choice after the nestling phase for many years that she starting to follow her desire and making her own choice of re-entry to career is viewed as something objectionable.

Look for support systems and explore  the avenues (career choice) that you`ve been ruling for these years to be your first choice when you decide back on your career.

There is more when we choose to live in abundance!

Thinking abundance I would say is the freedom that you have been craving for all these years. And real freedom is when you are ready to make your choice and take back your life today! Then, your future would be what you envision you to be. So seize every opportunity that comes to you and create abundance. Remember, “Abundance is not something that we acquire, but it is something that we tune into! This leads to the realization of how much more you can give and are poised for abundance for you and those who surround you. So, Kick start your life of abundance. Believe Life isn’t a zero sum game.

BUDDING MANAGERS

NOVEMBER 2014 ISSUE

Waaree Energies entered the solar  industry in 2007. To d a y, Waaree Energy’s modern facility in Surat Special Economic Zone (SEZ), with an annual capacity of 250 mw, makes it the country’s largest solar module manufacturing company. The company has already executed more than 90 mw of EPC contracts, while another 92 mw of contracts are under execution. The Mumbai-based company has also completed over 2,000 kw of rooftop installations in over 100 locations.

There is a lot of enthusiasm with recent announcement by the government to scale up solar capacity to 100 gw in the next five years. This is an audacious goal considering the fact that it is five times the target designated under the Jawaharlal Nehru National Solar Mission (JNNSM) earlier.

“We are very bullish on India, going by its growing energy demand of the billion-plus population, with limited access to fossil fuels and large number of un-electrified villages. We are also blessed with high irradiation which is a positive factor for solar power,” notes Hitesh Doshi, the chairman and managing director (CMD) of Waaree Energies.

Starting from scratch

Today, Waaree Energies is a leading engineering company with presence in solar energy, industrial valves, petroleum equipment and process control instrumentation. Mr Doshi has built this vast business empire with immense business acumen, intelligent strategies and hard work.

In 1989, fresh out of college, he started Waaree Instruments and began trading in instrumentation products. Seven years later, in 1996, the company forayed into manufacturing and opened a plant in Vapi, Gujarat.

As instrumentation business had become crowded with a lot of unorganised, small players, and Mr Doshi decided to move on to different business.

Years before Waaree’s exit from its core instrumentation business, Mr Doshi had meticulously drawn up new business plans. The group forayed into the industrial valves sector in 2005. It forged a joint venture with Italy’s 108-year-old valve manufacturer Cesare Bonetti. In July 2013, Waaree bought out the Italian company’s stake in the joint venture, further strengthening its hold in the global valve market. “Cesare Bonetti’s acquisition provides us access to Italian engineering expertise and the company’s manufacturing bases in Italy, Turkey and Germany,” adds Mr Doshi.

Early-mover gains
 
The entrepreneur in Mr Doshi saw an opportunity in the solar sector and he started Waaree Energies in the year 2007. Waaree Energies set up a 30- mw module manufacturing line in Surat SEZ in the same year and began manufacturing modules to cater to the growing export market. By 2011, the domestic solar market opened up. Just a year earlier, the Central government had unveiled the ambitious JNNSM to have 20,000 mw of grid-connected solar power by 2022. To ensure its presence across spectrum and to spread the risk, Waaree Energies forayed into various solar products, including rooftop solutions, solar water pumps, solar thermal solutions and other solar products.

The company soon entered the EPC segment and started taking up contracts of setting up solar projects right from conceptualisation to commissioning.

It gradually expanded the plant’s capacity to 110 mw and took it further up to 250 mw. Last year, Waaree Energies forayed into independent power production (IPP) segment after bagging a 50-mw project under the JNNSM. The company formed a joint venture with North East Electric Power Corporation (NEEPCO), a Central government owned public sector undertaking with a Mini Ratna status, for the JNNSM project. “We have also bid for projects in Telangana and Andhra Pradesh.

Origin: 1989
Businesses: Solar energy and industrial valves
Headquarters: Mumbai
Plants : Surat and Vapi

Employees : 600+
Global presence : 65 countries

We have won 50 mw in Andhra Pradesh. Technology, scale and efficiency are our three major focus areas to bring down the cost of operation and make solar power affordable,” explains Mr Doshi.

Meanwhile, India’s current grid connected solar power capacity is a little over 2,600 mw, a far cry from the ambitious JNNSM target of 1,00,000 mw in the next five years. But this deficit offers a huge opportunity for solar players like Waaree. Of late, both the State and Central governments have upped the ante to spur growth in the solar sector by floating more tenders. Also, the four solar ultra mega power projects (Sambhar in Rajasthan, Khargoda in Gujarat and Ladakh and Kargil in Jammu & Kashmir) are likely to take India closer to the target.

“In the past six years, Waaree has proven quality and service nationally and internationally. We want to become the customers’ preferred brand when it comes to solar PV modules. The Indian government has chalked out a very aggressive solar power plan and has also come up with Make In India initiative. We are sure that manufacturers like us can grow better,” stresses Mr Doshi.

Six years ago, when Waaree entered the solar energy sector, it was an uncharted territory. The solar industry has now emerged as the next big sunrise sector that is expected to fill the country’s energy gap. With the early-mover advantage, Waaree Energies is well placed to bask in the sun’s glory.

BUDDING MANAGERS

NOVEMBER 2014 ISSUE

Consumer durable manufacturers expect up to 35 per cent growth in the ongoing festive season. Major companies, such as Sony, LG, Panasonic and Whirlpool, are pulling out all the stops as the sector eyes a rebound from a prolonged slump.

Consumer durable companies are offering freebies, like hard disk drive, DVD players, carrying case and accessories, to attract buyers. Discounts, cash-back and extended-warranty schemes are also being employed to boost the festive demand. Companies are also adding new products in their line-up and offering an interesting mix of promotional offers on their flagship products.

Sony’s push

Sony, which expects sales of Rs 5,100 crore during the August-November period, has earmarked Rs 250 crore for its marketing budget to push sales. “Coupled with the boost in the customer sentiment, we are expecting to close the festive season with sales of Rs 5,100 crore with growth of 25 per cent over the corresponding period last year,” discloses Sunil Nayyar, who heads sales at Sony India.

“This festive season, we would be aggressively targeting our customers with a thrilling line-up, adding joy to the celebrations,” stresses Mr Nayyar He also adds that Sony is introducing promotional offers on Bravia TV and Alpha range of cameras and is also offering assured gifts.

"We are expecting to close the festive season with sales of Rs 5,100 crore with growth of 25 per cent over the correspond-ing period last year.
SUNIL NAYYAR
Sony India"

Sony will be running special campaigns, including ATL and BTL activities, such as print, outdoor, shopfront and events, in order to push sales. “For the festive season this year, we have a dedicated marketing budget of Rs 250 crore, and we are confi dent that it will help us in achieving a strong response to our festive promotional offers,” notes Mr Nayyar.

LG’s splash

South Korean durables-maker LG, which sees a 35 per cent jump in turnover during the festive sales, is spending 50 per cent more than last year for marketing and branding. “We are witnessing a boost in consumers’ confidence on the hope of an economic recovery. Consumer sentiment is picking up, and we are very upbeat,” notes LG India Vice-President (Sales) Sanjeev Agarwal.

LG is also looking at social media and digital platforms as an important mode for its campaign during the festive period. “Digital medium will be an important platform for festive campaigns.

We always try our best to engage consumers through innovative digital campaigns,” reveals Sanjay Chitkara, LG India’s head of corporate marketing.

LG is offering sound bar and DVD player with select high-end televisions and magic-motion remote controller with selected smart TV models. It is launching its first-ever 360-degree brand campaign, highlighting its product portfolio.

“The festive season is the most important season for LG. With the objective of maximising customer satisfaction and considering the changing lifestyle and robust economic growth, LG is lining up exciting offers,” reveals Mr Agarwal.

Panasonic’s offers

“We believe that the new government has resulted in a higher consumer confidence and stable rupee, which will definitely lead to an upsurge in sales this season,” opines Panasonic India Managing Director Manish Sharma.

"A significant part of our marketing budget for the festive offer is spent on digital promotion
MANISH SHARMA
Panasonic, India"

The Japanese consumer durables maker, which expects 25 per cent growth in sales as compared with sales during the same period last year, is spending Rs 85 crore for marketing initiatives and has run special campaign during the festive season on its Viera range of TV, microwaves, refrigerators and washing machines.

“Panasonic is making optimum use of all the available mediums to promote the festive offers, and social media is an essential part of it. A significant part of our marketing budget for the festive offer is spent on digital promotion,” adds Mr Sharma.

Panasonic has unveiled My Celebrations, My Choices campaign during the festival season and is providing special offers. “The campaign has been created keeping in mind the flavour and zest of the Indian festive season.

Under this campaign, consumers can avail themselves of special offers on the purchase of Viera range of microwaves, refrigerators and washing machines,” adds Mr Sharma.

Whirlpool’s launches

Whirlpool of India Vice-President (Corporate Affairs and Strategy-Asia South) Shantanu Dasgupta is of the opinion that there is optimism in consumer sentiment, but it would not be as good as 2009 and 2010, when industry had posted 30 to 40 per cent growth. “We see a certain sense of optimism in consumer sentiment. The reality, however, is that cost of living has gone up, food inflation is high and interest rates have not come down,” he adds.

Whirlpool of India expects 20 per cent growth in volumes during the ongoing festive season and would spend Rs 12 crore on media cam campaigns.

“We will be launching a television campaign, specially created for the ongoing festive season. We will also support the promotion in print, radio and digital media,” reveals Mr Dasgupta, adding that it will target women in the age bracket of 25 to 44.

"We see a certain sense of optimism in consumer sentiment
SHANTANU DASGUPTA
Whirlpool of India"

The company is also leveraging the digital platform though its main focus would be on TV and print. “Our new TV campaign will be uploaded on YouTube and Facebook and our promotional details will also be communicated through the social media.

However, our main communication medium will be TV and print because of their reach,” adds Mr Dasgupta. Whirlpool of India will be introducing a new washing machine and a range of high-end microwave ovens in its Indian product line-up, imported from its European factory.

Festive mood

After facing one of the worst festive seasons last year, consumer durable companies are bullish on the upcoming festive season and targeting strong, double-digit growth. Industry executives feel that the new government has ushered in a sense of greater stability in consumers.

Consumer durable companies are going beyond traditional routes of marketing campaigns by logging on to social media platforms, like Facebook and YouTube, to tap young consumers. Apart from running special campaigns of ATL and BTL activities, such as print, outdoor, shop front and events, the companies are also targeting the 20 to 40 age bracket through various social media platforms.

With extension of Excise Duty sops to consumer durable companies until the end of December, prices of many products have also been largely stable, and companies have not been taking any steep hikes in the recent past. They are now hoping that high footfalls during the festive season translate into tangible revenue.

BUDDING MANAGERS

NOVEMBER 2014 ISSUE

Centre orders merger of NSEL and FTIL

The government has decided to merge National Spot Exchange (NSEL), which is embroiled in over Rs 5,600- crore payment crisis, with its parent company Financial Technologies India (FTIL). The draft order, issued by the Ministry of Corporate Affairs under Section 396 of the Companies Act, 2013, comes after more than a year after the payment crisis broke out at online spot exchange in July 2013.

This is the first time that a listed entity in the private sector is involved in a Section 396 order of the Central government. The Centre has cited that the merger is aimed at settling the dues of its stakeholders and creditors.

Government gets tough on NGO payments

The Centre has advised all NGOs and associations registered under the Foreign Contribution (Regulation) Act, 2010, to make payments of Rs 20,000 and above only by cheque or demand draft. Cash payments above Rs 20,000 will invite a more intensive scrutiny of records and accounts of associations concerned.

One address proof is enough: RBI

The RBI has asked banks to comply with the one-address-proof norm as it was found that many of them were not following the new rules. Despite its clear instructions on requirement of one proof of address, whether permanent or current, the RBI has noted that some banks were still insisting on submission of a proof of current address even when customer produced a proof of permanent address. The RBI has warned that insistence of proof of local address prevents many prospective customers, especially migrant workers, from opening bank accounts.

Wave Group enters housing finance

The Delhi based Wave Group recently announced its foray into financial services segment with launch of a housing finance company. The new housing finance venture, New Habitat Housing Finance and Development, has been launched with an initial paid up capital of Rs 12 crore.

Over the next three years, the group plans to shore up the capital of the housing finance company to Rs 100 crore, essentially out of its internal accruals. The Wave Group has diversified interests in distilleries and breweries, real estate, sugar, manufacturing, malls and multiplexes.

CBS a criterion for financially sound UCBs

The RBI has said that full implementation of core banking solution (CBS) will be included as an additional criterion for classifying an urban cooperative bank (UCB) as financially sound and well managed. Until now, UCBs fulfilling criteria, such as capital to risk weighted assets ratio of not less than 10 per cent, gross non performing assets of less than 7 per cent, net NPAs of not more than 3 per cent, net profit for at least three out of the preceding four years and sound internal control system with at least two professional directors on the board, were classified as financially sound.

Ex-Tata Finance MD barred from market

Dilip S Pendse, a former managing director of Tata Finance, has been banned from accessing the capital market for two years with immediate effect for executing illegal transactions in the past. The SEBI last month concluded that Mr Pendse had executed illegal transactions through Inshallah Investments - in which Niskalp Investment, an arm of Tata Finance, had a vital financial interest - in the scrips of HFCL, Telco, Infosys and SSI. The complaint against Mr Pendse was filed by Tata Finance in October 2002 for violating insider trading regulations.

MP gets Rs 6.85-l cr investment intentions

Madhya Pradesh Chief Minister Shivraj Singh Chouhan has revealed that various industry leaders expressed their intention to invest about Rs 6,85,000 crore in the State in the recently concluded three day Global Investors’ Summit in Indore. Most of the investments announced in the summit are in power, coal, food processing and information technology sectors. The government had decided earlier that it would not sign any MoUs with the investors.

It is planning to contact all the investors within a month and provide them with an investment manager each for effective follow-up of their investment proposals.

Animal-tested cosmetics import banned

India recently banned import of animal-tested cosmetics. The move follows India’s earlier decision to ban testing of animals for cosmetics within the country. This makes India the first cruelty-free cosmetics zone in South Asia and an example for other nations to follow. Pro-life groups across the world have long campaigned to end the practice of testing cosmetics on animals. Often called the ugly secrets behind the beauty industry, campaigners have revealed how tests on animals like rabbits are done, injuring and maiming them. Several large companies have in the past said that they had stopped testing cosmetics on animals.

WTO rules against India’s poultry ban

A World Trade Organization (WTO) panel has ruled against India’s import restrictions on chicken legs and some other farm products from the US. The panel has termed India’s import curbs based on fears of low-intensity bird fl u affecting public health as not in line with multilateral trade rules.

The US had dragged India to the WTO on the issue in 2012, claiming that the restrictions were based on “unscientific” reasons, which the dispute settlement panel has upheld. India will now examine if it can challenge the verdict in the Appellate Body.

Bullion body re-enters retail trade

The India Bullion and Jewellery Association (IBJA) has launched a retail venture with gold bars and silver coins in Mumbai. To start with, the bullions will be available between one gram and one kilogram at the IBJA’s offi ce in Zaveri Bazaar in Mumbai. Plans are on to rope in retailers and launch online sales in the near future. Gold coins and bars will have IBJA’s hallmarking with assurance of finest purity and be priced at market rates.

The Bombay Bullion Association, which was rechristened recently as IBJA to include jewellers, had discontinued selling gold after the economic liberalisation.

PFRDA to bring all exempt funds under it

The Pension Fund Regulatory and Development Authority (PFRDA) is looking to bring all exempt pension funds, such as superannuation funds run by some companies for their employees, under its ambit. The pension sector regulator has sought details from all trusts that operate such funds. The PFRDA is of the view that there is a grey area in the regulation of superannuation funds. Under the current structure, insurers or fund managers manage the superannuation funds and follow independent rules. The regulator has pointed out that the PFRDA Act applies to any pension scheme that is not regulated by any other enactment.

Corporation Bank’s e-Mandate service

Corporation Bank has launched the e-Mandate (digital mandate) service to provide a platform for large volume of repetitive payments, according to a bank’s release. The e-Mandate service can be used by utility companies for monthly subscriptions and bill payments, by insurance companies for premium payment by policy-holders, by NBFCs and other finance companies for instalment payments and by education institutions for school fee payment.

India 18th most desirable workplace

India has been ranked 18th globally on the list of most desirable destinations to work even as 70 to 80 per cent of Indians are willing to work in an overseas location, according to a report by the Boston Consulting Group, total jobs.com and The Network.

The US has been ranked on the top, followed by the UK, Canada, Germany and Switzerland. The Asia-Pacific region does not generate as much interest as a possible work destination largely because of the perceived difficulty of learning Asian Language, the report adds. It also notes that some fast-growing Asian countries are starting to reclaim workers they had lost.

Karnataka unveils new industrial policy

The Karnataka government has come up with a new industrial policy that aims to grow other cities in the State and increase the push for local manufacturing. It also targets to generate Rs 4,00,000 crore worth of software exports by 2020.

The policy, which has been in the works since last November, aims to address the slowdown faced in the IT sector, which, in turn, has impacted job creation over the last few years.

The State government is rolling out the red carpet to companies to form public-private partnerships across all industries, from IT to toy manufacturing.

Sun Pharma bets on in-licensed drugs

Sun Pharmaceutical Industries plans to invest more than $280 million (about Rs 1,700 crore) in the experimental psoriasis drug that it inlicensed from US- based Merck Sharp & Dohme (MSD) last month. The country’s largest domestic drug-maker by market capitalisation is looking at commercialising the drug globally by 2018. This is part of Sun Pharma’s attempt to invest in a basket of promising innovative products in select therapies to grow beyond generics and add new revenue streams.

Sun is the first Indian medicine company to adopt the strategy of in-licensing experimental drugs at a latetrial stage for commercialisation.

Nokia to stop production at TN plant

Nokia will be suspending handset production at its Sriperumbudur facility from November 1 after termination of services agreement with software major Microsoft. Nearly 1,100 employees at the facility, Nokia’s largest, will be affected. The workers’ union has termed Nokia’s move illegal and plans to take up the issue with the Tamil Nadu (TN) government. Nokia had sold its mobile handset business to Microsoft, but the Sriperumbudur plant was not a part of the deal after the company got embroiled in a tax dispute with the Centre. The Finnish company signed an agreement with Microsoft to address the latter’s immediate production needs and operated the plant.

Yamaha plans Jan start for Chennai plant

Yamaha’s new plant on the outskirts of Chennai will start operation by January next year. To begin with, the Japanese two-wheeler maker will produce scooters at the plant, which will have an initial annual capacity of 4 lakh units.

The capacity is expected to increase to 18 lakh units by 2018. The new factory - employing 1,800 people initially and taking it up to around 6,500 in fi ve years - will be the first in the Yamaha Motor Group to have a vendor park in its vicinity. The company has a plant each in Surajpur (Uttar Pradesh) and Faridabad (Haryana).

Air India to get Rs 3,000 cr more

Air India will get around Rs 3,000 crore more from the government towards capital infusion in the latter part of the financial year. The ailing national carrier is expected to make operational profits from the next financial year, according to a top official of the Ministry of Civil Aviation. Air India has drawn up a turnaround plan based on a little over Rs 6,000-crore capital infusion by the government. The airline has already received a little over Rs 3,000 crore. Another round of infusion of Rs 3,000 crore by the end of the financial year is expected to put Air India back on the road to profit.

Cipla to invest Rs 225 cr in Iran plant

Cipla will be setting up a manufacturing plant in Iran. The Iran plant is a part of the Mumbaibased drug company’s strategy to boost its presence in the country’s fast-growing pharmaceutical market. Cipla, which will own a 75 per cent take in the plant, being set up in partnership with its local distributor, will invest about Rs 225 crore over three years in machinery and equipment for the facility. The drug-maker, which made headlines in 2001 by making anti retroviral medicines to treat AIDS in Africa for under $1 per day, gets more than half its revenue from markets outside India, including United States and Europe.

Vodafone wins transfer pricing case

The Bombay High Court last month ruled that Vodafone was not liable to pay tax of Rs 3,200 crore in a transfer pricing case dating back to 2009-10. The tax authorities had alleged that  Vodafone India Services, a group entity, had under-priced shares in a rights issue to its parent company, Vodafone Teleservices (India) Holdings, Mauritius. The court, however, ruled that share premium received on the issue of shares was not taxable. The verdict, which may have implications for a number of cases that have been bundled together, comes as a big relief for the UK-based mobile services provider.

M&S to double outlets in India

British retailer Marks & Spencer (M&S) is planning to nearly double the number of retail stores in India from 42 to 80 in two years. The company, which opened its first store in India in 2001, entered into a joint venture with Reliance Retail in 2008. M&S, which sources apparel from over 50 countries, has seen growth across all categories in India. Established in 1884, M&S currently has over 800 stores in the UK and over 460 international outlets across Europe and Asia.

Relief for banks to act on stressed loans

The RBI has increased the time limit for banks to come up with a corrective action plan by the Joint Lenders Forum from 30 days to 45 days in case of loans showing incipient stress. Similarly, it has allowed the Independent Evaluation Committee a time limit of 45 days instead of 30 days for evaluation of restructuring package and giving its recommendations for restructuring of accounts with aggregate exposure of Rs 500 crore and above. The central bank has exempted crop loans from reporting to the Central Repository of Information on Large Credits.

M&M to buy 51% in Peugeot Scooters

Mahindra Two Wheelers will be acquiring a 51 per cent stake in France-based Peugeot Motocycles to expand its presence across global markets. Mahindra Two Wheelers, an unlisted subsidiary of utility vehicle manufacturer Mahindra & Mahindra (M&M), will be investing about Rs 215 crore in the French company. Peugeot Motocycles, also known as Peugeot Scooters, is a part of the PSA Group and makes scooters and mopeds in 50 to 400 cc range. Following the deal, M&M will focus on the European market and India, which accounts for 21 per cent of the global two wheeler market.

IndiGo places largest order for 250 planes

IndiGo Airlines has signed an MoU with Airbus for purchase of 250 Airbus aircraft, the single largest order ever for narrow-body aircraft. At $102 million (a little over Rs 600 crore) per plane, the contract is worth $25.5 billion (about Rs 1,53,000 crore). Delivery of the aircraft will start in 2018 and will continue until 2026.

The low-cost airline has also secured purchase rights for another 100 aircraft. The 250 new aircraft will be used to operate a mix of domestic and international flights.

Abbott to open Rs 450-cr plant in Gujarat

Multinational healthcare company Abbott’s new green field plant to produce nutritional products went on stream in Jhagadia, Gujarat, last month. With an investment of Rs 450 crore, the plant will employ more than 400 people. The company will be sourcing about 80 per cent of its ingredients locally.

The plant is Abbott’s third manufacturing site in India, the other two being in Baddi and Goa. The Jhagadia plant will manufacture high-quality nutritional products for India. In 2012, Abbott had opened a nutrition research and development centre in Bangalore to accelerate development and delivery of nutritional products.

Kalyan Jewellers gets Warburg funding

Keralabased Kalyan Jewellers has raised Rs 1,200 crore from US private equity major Warburg Pincus, in return for a minority stake. The deal, which is the largest private equity investment in the country’s jewellery manufacturing and distribution industry, values Kalyan Jewellers at about Rs 12,000 crore. The investment has been made by an affiliate of Warburg Pincus. Kalyan Jewellers, a Thrissur-based jewellery manufacturer and retailer will use the proceeds for expansion, opening 28 outlets in the next six months. Kalyan Jewellers has 61 retail outlets, of which six are at foreign locations.

Pride enters North with Dharmashala resort

Pride Hotels, one of the fast-growing hotel chains in India, has taken over the management of The Surya McLeod Dharmashala, making its foray into north India. Last month, Surya McLeod Dharmashala Managing Director Paramjeet Bamba entered into a management contract with Pride Hotels Executive Director Arun Nayar, roping in Pride Hotels to manage the 53-room property. The property has been renamed as Pride Surya Mountain Resort, McLeodganj, Dharmashala. Speaking on the occasion, Pride Hotels CEO Satyen Jain said: “We are proud to have been appointed to manage and operate one of the fi nest resorts in McLeodgang.

This elegant hotel will provide deluxe amenities and genuine hospitality to accommodate the needs of both business and leisure travelers.”

PSB chief selection process cancelled

The government has scrapped the ongoing selection process for chiefs of public sector banks (PSBs). The move is likely to delay appointments of heads of eight State-run banks. The decision comes after a committee, comprising the expenditure secretary, RBI governor and school education secretary, set up to look into the process, found irregularities in the followed procedure. As a result of the decision, a fresh process will begin to appoint eight chairmen and managing directors and 14 executive directors in PSBs, including Bank of Baroda, Canara Bank, Indian Overseas Bank, Oriental Bank of Commerce, Syndicate Bank and United Bank of India.

ICVL wraps up Mozambique deal

International Coal Ventures (ICVL) recently wrapped up a deal to acquire global mining giant Rio Tinto’s coal assets in Mozambique for $50 million (around Rs 300 crore). The deal involves transfer of the Benga coal mine and two other coal deposits in the Tete province of the East African country. This is the first acquisition of assets by ICVL, established in 2009. The acquisition will bring in long-term value and raw material security for Indian steel-makers, particularly in coking coal. SAIL is the biggest stakeholder in ICVL, which has State-run entities, such as CIL, RINL, NMDC and NTPC, as its stakeholders.

Surat company’s big-bang Diwali bonus

Hari Krishna Exports, a Surat-based diamond company with an annual turnover of Rs 5,000 crore and a workforce of about 6,000, recently shot to fame with unique Diwali gifts for its employees. The company gifted its employees 491 Fiat Punto cars, 200 two-bedroom houses and jewellery ahead of the festival of lights. The incentives, adding to Rs 50 crore, were meant for employees who contributed significantly to the growth of the company over the past five years, added Hari Krishna Exports Chairman and Managing Director Savji Dholakia.

SCI, GAIL in talks to buy LNG ships

Shipping Corporation of India (SCI) and GAIL India are currently in discussion to forge a tie-up under which GAIL will acquire nine LNG ships, and SCI will run them, according to a senior SCI executive. The country’s largest shipping company will have an option to pick up a stake of up to 25 per cent in the proposed joint venture company. SCI currently operates four LNG ships through joint venture companies with Japanese partners, among others, in which the Indian PSU holds 26 per cent stake. Both the companies see the proposed joint venture as a business opportunity for them.

The Byke Hotels makes rapid strides

With four luxurious and plush properties across serene hill stations and popular holiday destinations of the country, the Byke Hotels and resorts is fast emerging as a serious player in the domestic hospitality sector. The Byke Heritage, Matheran, (Maharashtra); The Byke Old Anchor, near the Cavelossim beach in South Goa; The Byke Hidden Paradise near the Ashwem beach in North Goa; and The Byke Neelkanth in Manali (Himachal Pradesh) harness the best-in-class technology in tune with global trends to deliver service according to international standards. The Byke Group takes pride in serving exclusive multi cuisine vegetarian cuisine enriched with natural and authentic flavours.

New air pollution index on the cards

The Ministry of Environment and Forests has launched a new Air Pollution Index to identify the most polluted regions in the country and raise awareness about health implications.

The index has been developed with the help of health and environmental experts from organisations, such as the Centre for Science and Environment and All India Institute of Medical Sciences.

It expands the bandwidth of the existing air quality standard to monitor eight particulate matters against the three scrutinised earlier. The index will be coded into six categories and launched in cities with a population of over 10 lakh by mid-December.

SAIL to fire up IISCO furnace by Jan

SAIL has set a December deadline for lighting up a blast furnace of its 2.7-mt IISCO Steel Plant in West Bengal. The Rs 17,000-crore plant, which is replacing the 100-year-old steel making facility, is already delayed by three years due to land-related problems. The facility is expected to be commissioned in January 2015. A part of the basic oxygen furnace and the casting unit of the plant in Burnpur are almost ready to commence operation. The raw material-handling systems, coke oven battery, sinter plant, wire rod mill and power plant are also ready.

25%public holding must for PSUs too

Listed public sector companies will have to comply with the norm of 25 per cent minimum public shareholding by August 21, 2017. This will help the government’s disinvestment programme as well as ensure more PSU shares for retail investors. At present, public sector companies are required to maintain 10 per cent minimum public shareholding while listed private sector entities are required to have 25 per cent public shareholding. However, in June, the SEBI decided to have a uniform norm for all companies listed on stock exchanges.

BUDDING MANAGERS

NOVEMBER 2014 ISSUE