HDFC chief Keki Mistry stresses the importance of inculcating values of social responsibility amongst Indian youth.
B'lore turns to IT to resolve its transport management problems.
The currency appreciation has increased the capital (in dollars) required for starting a business in India. The rising cost (in rupees) of employees, building space and infrastructure has only made matters worse.
Most of the biotech companies are focusing on discovery-led innovation in biopharmaceuticals. The segment has been witnessing innovations in follow-on (new variants) biologics (commercial products derived from biotechnology) and vaccines with an emerging activity in discovery-led new drug development programmes.
"The company has identified a place near Channapatna, close to the 'Janapada Loka' on the highway. This will be a 6,000 square feet cafe with a kidsplay area and parking space," said Rini Dutta, Vice-President (marketing and product development), Barista Coffee Company.
In what may well be the first step towards establishing the first "human colony" on the moon, the Indian Space Research Organisation is examining the possibility of establishing a robotic set-up or unmanned mission on the moon.
The kingpin of the racket, Joseph, an unemployed techie hailing from Virudunagar in Madurai district of Tamil Nadu, was nabbed from a cyber cafe in Mahadevapura near Whitefield by the police on November 29. Six of his associates have also been nabbed. The police tracked the accused by tracing the IP address of the PC from where the accounts were hacked.
FDI, NRIs to keep higher segment active.
Indian software product companies, which are planning to raise venture capital funding, will have to ensure that their domestic and emerging market focus is sharp. Indian IT start-ups, which are introducing software products, have better prospects of availing VC funding, according to many VCs. It has always been difficult for start-ups in the software product space to compete with the global software giants, even in the domestic market, they note.
Khoday India, the Rs 150 crore Bangalore-based spirits' player, is trying to catch up in the rapidly-growing Indian Made Foreign Liquor (IMFL) market with a concerted effort.
Indian IT companies such as Tata Consultancy Services (TCS), Wipro, Infosys and Satyam, besides MNCs such as IBM, are working towards becoming carbon neutral while simultaneously converting their expertise in this area to help global companies become environment-friendly.
Pai, a highflier in the software giant (he is still just under 50), has a zen for cities. As human resources head of Infosys he is constantly scouting around in India for newer destinations where the company can set up shop to beat rising costs. And he is all the time benchmarking these against the worlds great cities to develop an agenda for change and betterment.
Grover Vineyards plans to sparkle, literally and otherwise. In three years, come the festive season of 2010, it will launch its sparkling wine. Plus, it has taken a series of steps which will enable it to retain its presence at the quality end of the booming Indian wine market. This market is set to drastically change with the sharp cut in import duty on foreign wines and the launch of wines by brewers and distillers like UB, Seagram and Diageo.
"Despite many obstacles, the Indian IT sector is growing stronger. However, innovation is the key driver of growth. There should be innovation in products, research and development, technology, organisational structure, business model and processes. Indian companies should follow this model to remain successful," he said delivering the keynote address of the Freescale Technology Forum in Bangalore.
Said CII southern region chairman P K Mohapatra, "Though the construction industry employs about 31 million people, second only to the agriculture sector, the workforce requirement is about 5 million people every year over the next seven years to eight years to sustain the present 8 per cent growth rate."
William S Pinckney, Managing Director, Amway India said the company will start exporting to Sri Lanka, Nepal, Bangladesh and Pakistan from India within the next couple of years. The company, which has emerged as the largest direct marketing company in the country, is now looking to make India an export hub for South Asia.
According to analysts, the first two quarters are usually dull for the company historically, hence growth will be higher in the subsequent two quarters. If Wipro Infotech achieves the $1 billion mark, it would make Wipro the first Indian company to touch the figure through its largely domestic market-focussed arm. It derives about 90 per cent of its revenue from India.
Domestic IT company Wipro Technologies and global networking company Cisco are eyeing $1 billion revenue from their strategic alliance for developing and delivering IT services solutions in the global market. The partnership aims at $1 billion revenue over the next three years, said John Chambers, chairman and CEO of the $35 billion California-based company
The Central Board of Direct Taxes on Tuesday notified the norms for valuation of employee stock option plans (ESOPs) for calculating fringe benefit tax (FBT). The rules will take effect from April 1, 2008, and apply from assessment year 2008-09. The notification said the value of stock options of listed companies would be the listing value - the average of opening and closing price - on the day the options were vested with the employee.
This will be the company's first major expansion in the switching business after the acquisition of the North West Switches brand for Rs 102 crore (Rs 1.02 billion) in May last year. The plant will be located at Haridwar, Uttaranchal, where the company has acquired about six acres for the purpose. A significant part of the Rs 60 crore (Rs 600 million) capital expenditure earmarked for this fiscal will be spent on setting up the plant, Vineet Agrawal, president, said.
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