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.
'Other sectors that manage the savings pools of Indians are giving tough competition to life insurance companies.'
'We need to make sure we invest in the right spaces to play Test cricket where it means something and has jeopardy.'
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.
'...as then it brings them closer to the complaints and grievances that the public faces.'
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.
Streamlining enterprise data, having an AI policy, reskilling people, and cultural transformation have been cited by experts as key.
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.
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).
'The choice is clear: We either embrace this transformation and cement our global leadership, or hesitate, lose ground, and fade into irrelevance.'
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.
'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.
Arun Maira who worked for 25 years with the Tata Group, remembers his early years with Ratan Tata.
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.
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.
The July-September quarter results of software companies in the engineering research and development (ER&D) segment were broadly in line with expectations, though there have been cuts in revenue growth guidance. While results were a mixed bag, and there are cautionary views on the near-term outlook, brokerages and global consulting firms highlight the strong growth trajectory for the sector. They expect this segment of the software sector to grow by 8-12 per cent going forward.
...followed by financial services, IT, and sales and marketing.
Sixty such offers have been made on Day 1 of the placement drive.
In March this year, Worldline India launched Vabox (Voice Alert Box): merchants will now get instant audio alerts on the settlement of UPI (Unified Payments Interface) payments via QR codes in languages of their choice when customers check out. "They needn't worry whether the amount has been credited to their account," says Gulshan Pruthi, the firm's executive vice-president. The French payments giant will roll out 500,000 Vaboxes in the initial phase.
To set up a future-ready administration geared towards the target of $2 trillion exports by 2030, the Department of Commerce has decided to set up a dedicated trade promotion body to drive overall promotion strategy, export targets, and execution as part of a restructuring exercise. The trade promotion body will formulate and drive overall trade promotion strategy; create and drive India's branding across focus markets and sectors; drive coordinated action across missions, states and export promotion councils; strategic initiatives, including advisory and buyer-seller meet; and develop digital platforms for exporters and buyers. Based on a 14-volume 'restructuring dossier' by the Boston Consulting Group, the commerce department has already implemented some of the recommendations.
However, the report pointed out that the implementation of the grievance redressal process still has many gaps as "only 22 per cent of the consumers involved in a grievance redressal process were satisfied due to the uncertain timelines involved". The Real Estate (Regulation and Development) Act, 2016, was passed by Parliament in March 2016.
172 firms participated in the final placement process.
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.
The country jumped two notches from 17th in 2008 to 15th in 2013.
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.
Within two days, the business school had 108 recruiters making 370 domestic and international offers, including 23 new final recruiters with an average salary of Rs 25.08 lakh.
The management institute also clocked 100% placement, says Virendra Singh Rawat.
In his last assignment, he led the global product strategy and commercialisation functions at Novartis Pharma AG.
He will take the place of Subir Gokarn, who was in-charge of the monetary policy department, has retired.
Global private financial wealth grew by 1.9 per cent in 2011.
Indian and Chinese households are going to spend $10 trillion per year by 2020, say Michael Silverstein and Abheek Singhi.
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).
Indian consumer market is poised to grow 3.6 times between 2010 and 2020, faster than most other emerging markets.
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.
In the G20 countries, the Internet economy will grow at more than 10 per cent annually for the next five years.
Indian Internet economy represents 4.1 per cent of the gross domestic product.
Reliance Industries has been ranked second in the list of world's 10 biggest 'sustainable value creators'.
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.
The number of millionaire households in India jumped nearly 21 per cent.
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