Adoption of Artificial Intelligence (AI) in India's 64 million Micro, Small and Medium Enterprises (MSMEs) alone could unlock over $500 billion in economic value, but the country must pivot from an "adopt-first" to an "invent-first" mindset to realise this potential, according to a new report.
'We need to make sure we invest in the right spaces to play Test cricket where it means something and has jeopardy.'
'Other sectors that manage the savings pools of Indians are giving tough competition to life insurance companies.'
The Indian AI market is expected to grow to over $17 billion by 2027, more than tripling its current size, driven by increased investments in enterprise technology, a flourishing digital ecosystem, and a strong pool of skilled professionals, according to BCG.
Nearly 7 out of every 10 P2M UPI transactions take place in high frequency categories like groceries, restaurants, pharmacies, fuel service stations, bakeries and utility services such as electricity, gas, water and sanitation.
Streamlining enterprise data, having an AI policy, reskilling people, and cultural transformation have been cited by experts as key.
State-owned Engineers India and MECON as well as four private entities are in the fray for the project to comprehensively revamp RBI's currency management infrastructure in order to cater to future cash needs of the country's fast growing economy. The four private entities are: Accenture Solutions; Colliers International (India) Property Services; PricewaterhouseCoopers and The Boston Consulting Group (India).
'...as then it brings them closer to the complaints and grievances that the public faces.'
India's hospitality sector is rolling out the red carpet for investors. A flurry of upcoming IPOs, or initial public offerings, the entry of new players, and ambitious expansion plans by Indian and global hotel brands are ushering in what could be the industry's most formalised era yet. Leading the charge are real estate titans, who are turning their hotel arms into global hospitality chains.
...followed by financial services, IT, and sales and marketing.
State-run Life Insurance Corporation of India (LIC) has committed Rs 600 crore for its digital transformation journey, Sunder Krishnan, chief risk officer said on Wednesday. The insurance giant is also aiming to become completely "paperless" in two years. "We have hired a large system integrator for more than Rs 400 crore, a consultant for digital transformation for Rs 100 crore, and Rs 100 crore for agency transformation.
Other reputed firms like McKinsey, Boston Consultancy Group, PwC, Ernst & Young and KPMG had also applied for getting the mandate from Bandhan.
'It is notable how humble he was and didn't want anything different just because he was a Tata.'
Out of 24,230 IIT and NIT grads, about 8,000 students didn't find any takers during campus placement drives this year.
Two young men jostle in a rickshaw as it clatters along a narrow, bustling lane of North Kolkata, each with a leg dangling over the side of the vehicle, a bulging sack of cosmetics nestled between them. The protagonists here are the founders of Emami - Radhe Shyam Agarwal and Radhe Shyam Goenka - childhood friends who gave up cushy corporate jobs to build a fast-moving consumer goods (FMCG) company. From a 200-square-foot rented space on Muktaram Babu Street in North Kolkata, brand Emami stepped into the competitive world of FMCG 50 years back, armed with just three products: Vanishing cream, talcum powder, and cold cream.
'The choice is clear: We either embrace this transformation and cement our global leadership, or hesitate, lose ground, and fade into irrelevance.'
A senior bank official said the preliminary report would come in three months.
Twenty Indian firms are among the 100 'global challengers' that are not only reshaping their respective industries but are also outpacing established players from the West, according to the Boston Consulting Group.
Reliance ADAG, Tech Mahindra among top recruiters at IIM-A
Indian consumer market is poised to grow 3.6 times between 2010 and 2020, faster than most other emerging markets.
He will take the place of Subir Gokarn, who was in-charge of the monetary policy department, has retired.
The six-member government-appointed board of scandal-hit Satyam Computer Services today appointed investment banks Goldman Sachs and Avendus to explore various strategic options for the company, which include identifying strategic investors and obtaining expressions of interest from them in a fair and transparent manner.
Senior executives of the country's leading manufacturing companies are optimistic that the industrial sector, currently reeling under economic slowdown, could return to high growth trajectory "with a change in ecosystem and policies", according to a report.
Payments and banking transactions through mobile phones in India are expected to touch $350 billion (Rs 1,560 crore) by 2015, according to The Boston Consulting Group (BCG), a global management consulting firm.
Arun Maira who worked for 25 years with the Tata Group, remembers his early years with Ratan Tata.
India has emerged among the four fastest wealth creator countries in the world and its growth momentum is expected to gather further steam going forward, a global study has said.
Despite high inflation and interest rates, number of Indians wanting to buy expensive products within the same category, called trading up in retail parlance, is among the highest in the world, says a new study.
The consumer markets of India and China would together be worth $10 trillion by 2020, according to The $10 Trillion Prize, a book by Boston Consulting Group (BCG).
Insurance behemoth Life Insurance Corporation of India (LIC) is the fourth largest insurer in the world, according to a ranking based on life and accident & health reserves of companies in 2022 by S&P Global Market Intelligence. The state-owned insurer is ranked after Allianz SE, China Life Insurance Company, and Nippon Life Insurance Company. According to the report, LIC's reserves stood at $503.7 billion. Germany's Allianz SE ($750.20 billion), China Life Insurance Company ($616.90 billion) and Nippon Life Insurance Company ($536.80 billion) are the top three insurance companies in the world.
Payments through cash and cheques had accounted for a high 94 per cent of the total transactions in 2003 and the share has been on the downslide ever since.
In his last assignment, he led the global product strategy and commercialisation functions at Novartis Pharma AG.
Reliance Industries has been ranked second in the list of world's 10 biggest 'sustainable value creators'.
The country jumped two notches from 17th in 2008 to 15th in 2013.
In a significant report, an influential consultancy firm has warned American companies that either they outsource more work to India, including high-powered functions like research and development, or face extinction.
Anand Raghuraman, partner, The Boston Consulting Group, said it is extremely tough to make money on small food and grocery stores.
Global private financial wealth grew by 1.9 per cent in 2011.
India needs to create 220 million jobs in the next 15 years and this is only possible by implementing the National Manufacturing Policy, launched recently by the government, says Arindam Bhattacharya, managing director, The Boston Consulting Group (BCG) India Pvt Ltd.
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