Ahmedabad: The Securities and Exchange Board of India has approved India’s first social venture fund, Incube Connect Fund, which seeks to collect Rs 200 crore for investment in four sectors impacting the life of people.
Registered with the regulator under the SEBI (AIF) Regulations, 2012, the Ahmedabad-based social venture fund has been sponsored by Incube Ventures Pvt Ltd, promoted by Mani Iyer, for primarily incubating, mentoring, providing seed capital and angel investments to nascent business ideas of social ventures, promoting differentiated high social impact technology among others, according to a press release here on Thursday.
Incube Connect, a nine-year, Rs 200-crore sector-agnostic fund will primarily be focused on four sectors: healthcare delivery-product and services, vocational education and skill enhancement, clean energy and eco business and sustainable rural business innovations.
Projects
“Some of the projects that Incube is looking closely at include a geothermal energy project, a project for evolving healthcare delivery ecosystem in one of the most backward districts of the country, a project for fractionation of blood plasma and an innovative financial model for affordable housing for the vulnerable sections of the society,” he said. Incube Ventures was incorporated in 2010 under the Companies Act, 1956.
The current authorised share capital is Rs 1 crore and subscribed and paid-up capital is Rs 97.50 lakh.
Social Cause
S. Sridhar, former Chairman and Managing Director of Central Bank of India, is the chairman of Incube Trustees Co Pvt Ltd.
He will be overseeing statutory compliance of Incube and guide the Fund in statutory and governance aspects. The targeted corpus of Incube will primarily be invested in opportunities presented in the space which contributes to social cause significantly apart from generating reasonable returns for the investors.
“The objective of Incube is to back entrepreneurs typically at the bottom of the pyramid in terms of their ability to raise capital, partner them, and take them into ecosystem to nurture and grow them to be investor-ready,” Iyer added.
Success in my Habit
Friday, February 15, 2013
France invites Indian investment
New Delhi: France wants to take “full part” in the economic development here and will also like the Indian business community to look at investment opportunities in that country, visiting French President Francois Hollande said on Thursday.
“We would like both countries to cooperate. India is already the 13th largest investor in France and it can create more investment and employment there. India can also look to access the European Union market,” Hollande said at a press conference.
Asked whether the visiting dignitary could assure India that no middlemen will be involved in the sale of French fighter jets to India, the President said there will be nothing contrary to principles of doing business in concluding the deal.
“The common focus is that trade must be based on the rule of law,” Hollande said.
Meanwhile, India and France have agreed to promote an ambitious and balanced Free Trade Agreement (FTA) between India and the European Union based on reciprocity and mutual benefit to boost bilateral ties.
This has been stated in a joint statement issued at the end of talks between Hollande, and Indian Prime Minister, Manmohan Singh.
The two countries also agreed to encourage closer people-to-people contact through easing mobility and human exchanges, promoting education, science and cultural co-operation as well as expanding trade and investment.
To foster mobility of people, both sides noted the progress in negotiations of a bilateral agreement on people mobility and migration with a view to concluding it as soon as possible.
In the area of space, both leaders agreed to move forward, after the success of Megha-Tropiques satellite launch in October 2011 and the upcoming SARAL satellite launch. Both satellites contribute significantly to environmental and maritime survey purposes, the joint statement added.
Addressing the media after meeting Hollande, Singh said India and France had concluded negotiations on the short range surface-to-air missile, which was approved by the Government, and will be co-developed and co-produced here.
“There is a welcome shift from defence trade to co-development and co-production of advanced defence items here, which will help expand our domestic production base and strengthen the India-France strategic partnership,” the Prime Minister said.
Singh said India and France reviewed progress on the Jaitapur nuclear power project and reiterated “our commitment to its early implementation as soon as the commercial and technical negotiations, which have made good progress, are completed.”
The Prime Minister said he and the visiting President agreed to the need to “reinvigorate” economic engagement by “harnessing the enormous synergies”.
“We would like both countries to cooperate. India is already the 13th largest investor in France and it can create more investment and employment there. India can also look to access the European Union market,” Hollande said at a press conference.
Asked whether the visiting dignitary could assure India that no middlemen will be involved in the sale of French fighter jets to India, the President said there will be nothing contrary to principles of doing business in concluding the deal.
“The common focus is that trade must be based on the rule of law,” Hollande said.
Meanwhile, India and France have agreed to promote an ambitious and balanced Free Trade Agreement (FTA) between India and the European Union based on reciprocity and mutual benefit to boost bilateral ties.
This has been stated in a joint statement issued at the end of talks between Hollande, and Indian Prime Minister, Manmohan Singh.
The two countries also agreed to encourage closer people-to-people contact through easing mobility and human exchanges, promoting education, science and cultural co-operation as well as expanding trade and investment.
To foster mobility of people, both sides noted the progress in negotiations of a bilateral agreement on people mobility and migration with a view to concluding it as soon as possible.
In the area of space, both leaders agreed to move forward, after the success of Megha-Tropiques satellite launch in October 2011 and the upcoming SARAL satellite launch. Both satellites contribute significantly to environmental and maritime survey purposes, the joint statement added.
Addressing the media after meeting Hollande, Singh said India and France had concluded negotiations on the short range surface-to-air missile, which was approved by the Government, and will be co-developed and co-produced here.
“There is a welcome shift from defence trade to co-development and co-production of advanced defence items here, which will help expand our domestic production base and strengthen the India-France strategic partnership,” the Prime Minister said.
Singh said India and France reviewed progress on the Jaitapur nuclear power project and reiterated “our commitment to its early implementation as soon as the commercial and technical negotiations, which have made good progress, are completed.”
The Prime Minister said he and the visiting President agreed to the need to “reinvigorate” economic engagement by “harnessing the enormous synergies”.
Wednesday, February 13, 2013
Wipro ties up with Pingar
Bengaluru: Wipro has partnered New Zealand-based Pingar, a company that provides data management technologies.
With this partnership, India’s third largest software provider gets access to areas such as artificial intelligence and data mining that is used in various verticals, the company said in a statement.
According to this partnership, Wipro will be an original equipment manufacturer (OEM) for Pingar, thereby providing the latter access to a network of clients in a number of regions worldwide, in industries including aerospace, banking, consumer goods, government, manufacturing, medical devices, natural resources, professional services, retail, telecoms and utilities, according to the statement.
Anurag Srivastava, Chief Technology Officer, Wipro Technologies, said: “The ability to integrate Pingar’s API with existing enterprise systems, and extend their capabilities to gain efficiencies and strategic knowledge from unstructured data, represents a rich area of value to Wipro customers.”
Further, this agreement provides Wipro and its clients an increased ability to manage unstructured data to gain efficiency and improve the quality of business processes, collaboration and content management programmes.
With this partnership, India’s third largest software provider gets access to areas such as artificial intelligence and data mining that is used in various verticals, the company said in a statement.
According to this partnership, Wipro will be an original equipment manufacturer (OEM) for Pingar, thereby providing the latter access to a network of clients in a number of regions worldwide, in industries including aerospace, banking, consumer goods, government, manufacturing, medical devices, natural resources, professional services, retail, telecoms and utilities, according to the statement.
Anurag Srivastava, Chief Technology Officer, Wipro Technologies, said: “The ability to integrate Pingar’s API with existing enterprise systems, and extend their capabilities to gain efficiencies and strategic knowledge from unstructured data, represents a rich area of value to Wipro customers.”
Further, this agreement provides Wipro and its clients an increased ability to manage unstructured data to gain efficiency and improve the quality of business processes, collaboration and content management programmes.
PowerGrid to sign contract with Ethiopian firm; net up 40%
New Delhi: PowerGrid Corporation of India Ltd on Tuesday said it will sign a $16.7-million management contract with Ethiopia Power Company for two years.
“Ethiopia Power Company is an integrated firm with generation and distribution. PowerGrid will take up the key positions and manage the company for two years to make it more efficient and expand. The company is actively looking for business opportunities overseas as well as within the country,’’ PGCIL Chairman and Managing Director R. K. Nayak told mediapersons.
In addition, PowerGrid is targeting to implement a project in Bangladesh on build own operate transfer basis, he added.
At present, the transmission utility has a presence in 11 countries — Nepal, Afghanistan, Sri Lanka, Myanmar, UAE, Nigeria and Kenya.
Q3 Performance
The public sector company reported a 40 per cent rise in its net profit during third quarter of 2012-13 at Rs 1,129 crore (Rs 809 crore). The increase in profit after tax is primarily because of the increase in transmission charges to Rs 3,238 crore in the third quarter current year against Rs 2,340 crore in the same months the previous year.
During the three months ending December 31, PowerGrid’s total income moved up to Rs 3,490 crore from Rs 2,577 crore in corresponding period last year.
The Chairman said to strengthen the monitoring of transmission lines in the country, PowerGrid would introduce helicopter patrolling of the lines next year.
PowerGrid has also applied for wire business licence for few districts in Odisha, Nayak said.
PGCIL targets to connect the Southern Grid to the National Grid by March 2014.
At present, there is a synchronous connection of 4,000 MW connecting the Southern States to the rest of the nation.
“Ethiopia Power Company is an integrated firm with generation and distribution. PowerGrid will take up the key positions and manage the company for two years to make it more efficient and expand. The company is actively looking for business opportunities overseas as well as within the country,’’ PGCIL Chairman and Managing Director R. K. Nayak told mediapersons.
In addition, PowerGrid is targeting to implement a project in Bangladesh on build own operate transfer basis, he added.
At present, the transmission utility has a presence in 11 countries — Nepal, Afghanistan, Sri Lanka, Myanmar, UAE, Nigeria and Kenya.
Q3 Performance
The public sector company reported a 40 per cent rise in its net profit during third quarter of 2012-13 at Rs 1,129 crore (Rs 809 crore). The increase in profit after tax is primarily because of the increase in transmission charges to Rs 3,238 crore in the third quarter current year against Rs 2,340 crore in the same months the previous year.
During the three months ending December 31, PowerGrid’s total income moved up to Rs 3,490 crore from Rs 2,577 crore in corresponding period last year.
The Chairman said to strengthen the monitoring of transmission lines in the country, PowerGrid would introduce helicopter patrolling of the lines next year.
PowerGrid has also applied for wire business licence for few districts in Odisha, Nayak said.
PGCIL targets to connect the Southern Grid to the National Grid by March 2014.
At present, there is a synchronous connection of 4,000 MW connecting the Southern States to the rest of the nation.
India's IT sector exports to grow 12-14 per cent in FY14: Nasscom
Mumbai: India's information technology and business process outsourcing sector will expand 12-14% in fiscal 2014 to touch $84 billion-$87 billion (Rs 4.5 lakh crore-4.7 lakh crore) in exports, according to industry grouping National Association of Software and Services Companies (Nasscom).
The sector is expected to end the year to March 31 with a growth of 10.2% to touch $75.8 billion, against an original forecast of 11-14%, which Nasscom had later revised to "at least 11%." Analysts, who are expecting slightly better growth in the next financial year, said the latest Nasscom forecast is along expected lines.
"Technology has today become an integral enabler for growth across all sectors and the industry is continuously evolving and innovating to emerge as a strategic partner to its customers," said N Chandrasekaran, chairman of Nasscom.
The India's IT/BPO sector contributes 8% to India's gross domestic product. At about three million professionals being directly employed, this industry is the largest organised private sector employer in the country.
"We should not look it at only in terms of percentage growth but incremental growth because now the base is huge," said Chandrasekaran.
As large corporations grapple with newer technologies such as data analytics, mobility, and cloud, the nature of demand in global technology outsourcing market is changing, forcing Indian information technology services companies to a difficult situation where they need to solve clients' business challenges rather than merely sell technology solutions to them.
Also, India's top software services firms reported wide deviations in growth during the current financial year. While Mumbai-based Tata Consultancy Services, where Chandrasekaran is the chief executive officer, is expected to close the financial year with about 14% growth, others such as Bangalore-based Infosys and Wipro are estimated to grow at about 5% during the same period.
New-Jersey based Cognizant, one of the fastest growing outsourcers, have said it expects to grow by at least 17% in 2013, compared with the 20% it clocked in the just completed year.
Market demand slowed down perceptibly for the sector in fiscal 2013, when growth expectations came down from around 17% growth that the industry clocked in 2012 fiscal.
Analysts were predicting a revival for the sector after the better-than-expected growth reported by top software service firms for the three months to December, which is a traditionally slow quarter for the sector on account of holiday season in their largest markets US and Europe.
The sector is expected to end the year to March 31 with a growth of 10.2% to touch $75.8 billion, against an original forecast of 11-14%, which Nasscom had later revised to "at least 11%." Analysts, who are expecting slightly better growth in the next financial year, said the latest Nasscom forecast is along expected lines.
"Technology has today become an integral enabler for growth across all sectors and the industry is continuously evolving and innovating to emerge as a strategic partner to its customers," said N Chandrasekaran, chairman of Nasscom.
The India's IT/BPO sector contributes 8% to India's gross domestic product. At about three million professionals being directly employed, this industry is the largest organised private sector employer in the country.
"We should not look it at only in terms of percentage growth but incremental growth because now the base is huge," said Chandrasekaran.
As large corporations grapple with newer technologies such as data analytics, mobility, and cloud, the nature of demand in global technology outsourcing market is changing, forcing Indian information technology services companies to a difficult situation where they need to solve clients' business challenges rather than merely sell technology solutions to them.
Also, India's top software services firms reported wide deviations in growth during the current financial year. While Mumbai-based Tata Consultancy Services, where Chandrasekaran is the chief executive officer, is expected to close the financial year with about 14% growth, others such as Bangalore-based Infosys and Wipro are estimated to grow at about 5% during the same period.
New-Jersey based Cognizant, one of the fastest growing outsourcers, have said it expects to grow by at least 17% in 2013, compared with the 20% it clocked in the just completed year.
Market demand slowed down perceptibly for the sector in fiscal 2013, when growth expectations came down from around 17% growth that the industry clocked in 2012 fiscal.
Analysts were predicting a revival for the sector after the better-than-expected growth reported by top software service firms for the three months to December, which is a traditionally slow quarter for the sector on account of holiday season in their largest markets US and Europe.
Visa on Arrival Scheme registers twenty four percent growth
New Delhi: The “ Visa on Arrival” (VOA) scheme of the government registered a growth of 24.4 % in January 2013 as compared to January 2012.A total number of 1,690 VoAs were issued last month as compared to 1,359 VoAs issued in January 2012.
The following are the other important highlights of VoAs issued during January, 2013.
(i) The number of VoAs issued under this scheme during January 2013 for nationals of the eleven countries were : Japan (529), New Zealand (367), the Philippines (209), Singapore (186), Indonesia (181), Finland (167), Cambodia (17), Vietnam (16), Luxembourg (11), Myanmar (6) and Laos (1).
(iii) During January 2013, the highest number of VoAs were issued at Delhi airport (901) followed by Mumbai (427), Chennai (267) and Kolkata (95).
As a facilitative measure to attract more foreign tourists to India, the Government launched the “Visa on Arrival” (VoA) Scheme in January 2010 for citizens of five countries, viz. Finland, Japan, Luxembourg, New Zealand and Singapore, visiting India for tourism purposes. The Government extended this Scheme to the citizens of six more countries, namely Cambodia, Indonesia, Vietnam, the Philippines, Laos and Myanmar in January 2011.
The following are the other important highlights of VoAs issued during January, 2013.
(i) The number of VoAs issued under this scheme during January 2013 for nationals of the eleven countries were : Japan (529), New Zealand (367), the Philippines (209), Singapore (186), Indonesia (181), Finland (167), Cambodia (17), Vietnam (16), Luxembourg (11), Myanmar (6) and Laos (1).
(iii) During January 2013, the highest number of VoAs were issued at Delhi airport (901) followed by Mumbai (427), Chennai (267) and Kolkata (95).
As a facilitative measure to attract more foreign tourists to India, the Government launched the “Visa on Arrival” (VoA) Scheme in January 2010 for citizens of five countries, viz. Finland, Japan, Luxembourg, New Zealand and Singapore, visiting India for tourism purposes. The Government extended this Scheme to the citizens of six more countries, namely Cambodia, Indonesia, Vietnam, the Philippines, Laos and Myanmar in January 2011.
India and Japan to strengthen cooperation in tourism sector
New Delhi: India and Japan have resolved to strengthen cooperation in tourism sector. This was decided at a meeting between the visiting Japanese Senior Vice-Minister of Tourism, Mr. Hiroshi Kajiyama and Union Tourism Minister Shri K Chiranjeevi here today. It was also decided that both the countries will identify areas for working together and explore new opportunities in tourism sector especially in the field of human resource development, exchange of tour operators, investment in the tourism sector and exchange of information related to tourism sector. The possibility of signing an agreement/MoU between India and Japan was also discussed.
India and Japan are important tourism markets to each other. Japan is one of the top ten tourist generating markets for India as for as inbound tourism is concerned. Numbers of Japanese tourist visiting India during the last five years were:
Year 2011 2008 2009 2010
No. of tourists 145352 124756 168019 193525
Ministry of Tourism has hosted a total of 25 hospitality guests in 2009-10, 15 guests in 2010-11 and 14 guests in the year 2011-12 from Japan. This year, so far 9 guests have visited India under hospitality scheme. The guests include TV teams, Travel Agents, Tour Operator and media representative.
There is a strong interest of Japanese Tourists in places connected with Buddhism in India. JICA (Japan International Cooperation Agency) has extended loan of 7331 million Japanese Yen (Rs.299 Crore) for Development of Ajanta Ellora Conservation and Development Programme – Phase II).
Ministry of Tourism will be holding road shows in Tokyo on 18th and Osaka on 20th of this month
India and Japan are important tourism markets to each other. Japan is one of the top ten tourist generating markets for India as for as inbound tourism is concerned. Numbers of Japanese tourist visiting India during the last five years were:
Year 2011 2008 2009 2010
No. of tourists 145352 124756 168019 193525
Ministry of Tourism has hosted a total of 25 hospitality guests in 2009-10, 15 guests in 2010-11 and 14 guests in the year 2011-12 from Japan. This year, so far 9 guests have visited India under hospitality scheme. The guests include TV teams, Travel Agents, Tour Operator and media representative.
There is a strong interest of Japanese Tourists in places connected with Buddhism in India. JICA (Japan International Cooperation Agency) has extended loan of 7331 million Japanese Yen (Rs.299 Crore) for Development of Ajanta Ellora Conservation and Development Programme – Phase II).
Ministry of Tourism will be holding road shows in Tokyo on 18th and Osaka on 20th of this month
Tuesday, February 12, 2013
Endemol, Eros International ink 50:50 content deal, to share investments of Rs 100 crore
Mumbai: Reality television serial Fear Factor-Khatron Ke Khiladi and Bollywood film English Vinglish could be swapping screens by the end of the year, thanks to a first-of-its-kind deal to share intellectual property between Dutch entertainment firm Endemol and motion pictures maker Eros International.
Endemol India, producer of reality shows such as Bigg Boss, Khatron Ke Khiladi and The Great India Laughter Challenge, and Eros International, producer of films such as English Vinglish, Vicky Donor, Housefull and older films such as Saajan, have decided to pool together and extend their intellectual properties into new formats.
The two companies will equally share investments and revenues, Deepak Dhar, managing director and CEO of Endemol India, said. "It is a 50:50 film and TV collaboration and no new company has been formed," he said.
Eros and Endemol have also signed a three-film co-production deal, where they will equally share total investments of more than Rs 100 crore, intellectual property rights (IPR) and revenues.
Endemol owns more than 7,000 hours of format IP, including reality shows, game shows and chat shows, besides other fiction shows, while Eros has a library of 2,000 Hindi films and 1,000 Tamil films.
The deal to share IPR for TV and films, probably the first of its kind in India, may prove a game-changer for the Rs 40,000-crore Indian TV industry.
So long, production houses in India have been making shows funded by broadcasters. The maximum a producer would pay for is a pilot and the broadcaster owned the IP of the show, with airing rights across its footprint. Producers are usually paid a commission of the production cost, which is approximately 15 per cent.
Dhar said by investing in its own shows, Endemol can sell rights per territory to the highest bidder and hold all digital as well as language rights and sell each separately. "So we can monetise every territory," he said.
This is the common practice in the West.
Industry experts say investing in creating IP could translate into profits doubling. Revenue options will get enhanced as films converted into serials could be relaunched every season.
"The acquisition of IP becomes an inorganic channel of growth as compared to the organic way of producing original content," says Smita Jha, leader (entertainment & media), at consulting firm PricewaterhouseCoopers.
Examples of international adaptations include film versions of popular TV series 24 and Sex and the City, and serial versions of Terminator and Star Trek.
IP has become a key asset for media owners as multiple formats of distribution emerge. As platforms integrate due to advancements of technology, content becomes re-purposable on different screens, increasing the value of IP in this digital age. The deal will mark Endemol's foray into films and boost Eros' television plans.
Endemol India, producer of reality shows such as Bigg Boss, Khatron Ke Khiladi and The Great India Laughter Challenge, and Eros International, producer of films such as English Vinglish, Vicky Donor, Housefull and older films such as Saajan, have decided to pool together and extend their intellectual properties into new formats.
The two companies will equally share investments and revenues, Deepak Dhar, managing director and CEO of Endemol India, said. "It is a 50:50 film and TV collaboration and no new company has been formed," he said.
Eros and Endemol have also signed a three-film co-production deal, where they will equally share total investments of more than Rs 100 crore, intellectual property rights (IPR) and revenues.
Endemol owns more than 7,000 hours of format IP, including reality shows, game shows and chat shows, besides other fiction shows, while Eros has a library of 2,000 Hindi films and 1,000 Tamil films.
The deal to share IPR for TV and films, probably the first of its kind in India, may prove a game-changer for the Rs 40,000-crore Indian TV industry.
So long, production houses in India have been making shows funded by broadcasters. The maximum a producer would pay for is a pilot and the broadcaster owned the IP of the show, with airing rights across its footprint. Producers are usually paid a commission of the production cost, which is approximately 15 per cent.
Dhar said by investing in its own shows, Endemol can sell rights per territory to the highest bidder and hold all digital as well as language rights and sell each separately. "So we can monetise every territory," he said.
This is the common practice in the West.
Industry experts say investing in creating IP could translate into profits doubling. Revenue options will get enhanced as films converted into serials could be relaunched every season.
"The acquisition of IP becomes an inorganic channel of growth as compared to the organic way of producing original content," says Smita Jha, leader (entertainment & media), at consulting firm PricewaterhouseCoopers.
Examples of international adaptations include film versions of popular TV series 24 and Sex and the City, and serial versions of Terminator and Star Trek.
IP has become a key asset for media owners as multiple formats of distribution emerge. As platforms integrate due to advancements of technology, content becomes re-purposable on different screens, increasing the value of IP in this digital age. The deal will mark Endemol's foray into films and boost Eros' television plans.
Ericsson to manage RCom networks in $1-billion deal
Mumbai: Reliance Communications (RCom) has awarded a $1-billion outsourcing contract to Swedish telecom equipment-maker Ericsson, spread over an eight-year period, to manage its networks across the northern and western regions.
The company, controlled by billionaire Anil Ambani, would also shift about 5,000 personnel to the Swedish telecom equipment vendor as part of the deal.
Managing Networks
Under the contract, Ericsson will operate and manage RCom’s both wired and wireless networks, covering one lakh km across 11 telecom circles that includes Delhi and Mumbai.
“Given the complexity of network increasing with platforms, technologies and application offerings, we are banking on the experience, innovation and technical expertise of Ericsson to improve the productivity of our network and ensure that it delivers to its full potential.
“We are confident that they will exceed the expectations of our customers through optimisation of resources and provide us cost-effective solutions,” RCom Chief Executive Officer (Wireless Business) Gurdeep Singh said. This will enable RCom to provide a higher level of customer experience in terms of network and services, he added.
Ericsson will also take over field maintenance, network operations and operational planning for RCom’s 2G, CDMA and 3G mobile networks. The Swedish firm will also streamline RCom’s operations, apart from bringing in modernisation processes.
“The increasing uptake of new technologies requires an increased focus on customer experience management in the hyper competitive and highly-dynamic Indian telecom market. With this partnership, RCom will increase focus on its core business and innovation,” Ericsson Executive Vice-President and Head of Business Unit Global Services Magnus Mandersson said.
Fredrik Jejdling, Head of Region India, Ericsson ,said that Reliance employees will be integrated into the company’s local and global services organisation.
Similar Deal
In January, RCom awarded a similar $1-billion network outsourcing contract to telecom equipment manufacturer Alcatel-Lucent.
Under the eight-year deal, Paris-headquartered Alcatel-Lucent would manage RCom’s entire network — wireless, fixed line and data — in eastern and southern India, till 2020. About 4,000 people, or roughly 15 per cent of RCom’s total manpower, would be shifted to Alcatel-Lucent as part of the deal. In 2008, the companies had entered into a five-year, $750-million network outsourcing deal.
As of November, RCom had about 134 million subscribers. The Indian company’s share prices closed almost flat at Rs 75, while the BSE, the 30-index main bourse, also ended flat on Monday.
The company, controlled by billionaire Anil Ambani, would also shift about 5,000 personnel to the Swedish telecom equipment vendor as part of the deal.
Managing Networks
Under the contract, Ericsson will operate and manage RCom’s both wired and wireless networks, covering one lakh km across 11 telecom circles that includes Delhi and Mumbai.
“Given the complexity of network increasing with platforms, technologies and application offerings, we are banking on the experience, innovation and technical expertise of Ericsson to improve the productivity of our network and ensure that it delivers to its full potential.
“We are confident that they will exceed the expectations of our customers through optimisation of resources and provide us cost-effective solutions,” RCom Chief Executive Officer (Wireless Business) Gurdeep Singh said. This will enable RCom to provide a higher level of customer experience in terms of network and services, he added.
Ericsson will also take over field maintenance, network operations and operational planning for RCom’s 2G, CDMA and 3G mobile networks. The Swedish firm will also streamline RCom’s operations, apart from bringing in modernisation processes.
“The increasing uptake of new technologies requires an increased focus on customer experience management in the hyper competitive and highly-dynamic Indian telecom market. With this partnership, RCom will increase focus on its core business and innovation,” Ericsson Executive Vice-President and Head of Business Unit Global Services Magnus Mandersson said.
Fredrik Jejdling, Head of Region India, Ericsson ,said that Reliance employees will be integrated into the company’s local and global services organisation.
Similar Deal
In January, RCom awarded a similar $1-billion network outsourcing contract to telecom equipment manufacturer Alcatel-Lucent.
Under the eight-year deal, Paris-headquartered Alcatel-Lucent would manage RCom’s entire network — wireless, fixed line and data — in eastern and southern India, till 2020. About 4,000 people, or roughly 15 per cent of RCom’s total manpower, would be shifted to Alcatel-Lucent as part of the deal. In 2008, the companies had entered into a five-year, $750-million network outsourcing deal.
As of November, RCom had about 134 million subscribers. The Indian company’s share prices closed almost flat at Rs 75, while the BSE, the 30-index main bourse, also ended flat on Monday.
Uttarakhand gets its first apple cold chain
Dehradun: When Uttarakhand Chief Secretary Alok Kumar Jain travels to the remote Nogaon area of Uttarakhand this week, he will flag off a refrigerated apple van, a vital link of the cold chain that has been developed for the first time in the hill state.
Jain will also study an inclusive business model of small and marginal farmers in the apple value addition business chain.
Initiated by Stichting Het Groene Woutd (SHGW), a Dutch family foundation and social investor, and NGO Sri Jagdamba Samiti (SJS), this model has helped create employment, income, technical skill and capacity among the apple growers of Uttarakhand.
Mahavir Singh of Nogaon, for example, sold eight metric tons of apples to the Pisaon collection centre in 2011-12 at Rs 48 per kg. Earlier, he would sell to the market through intermediaries at a price of not more than Rs 36 per kg — this also included the cost of packing, commission and transportation, bringing down the net realisation to Rs 30 per kg.
Singh also earned a premium of Rs 6,000 and shares worth Rs 10,000 in FFT Himalayan Fresh Produce, a company that runs the controlled-atmosphere storage facility for storing apples in Nogaon and the collection centres. Singh nearly doubled his income to Rs 4 lakh, from Rs 2.4 lakh in the previous year (2010-11). He was also paid without any delay. Singh is not alone. A total of 4,000 farmers are now selling their apple crops to these collection centres of the farmers’ trusts, SHGW and SJS.
In the 2011-12 apple season, 880 participating apple farmers were paid between Rs 40 and Rs 55 per kg. A total of 430 metric tons of apples were procured and sold to FFT Himalayan at Rs 55-65 per kg. The latter sold the apples in the markets of Varanasi, Delhi, Dehradun and Jaipur at Rs 75-85 per kg. FFT Himalayan earned a net profit of Rs 7 lakh, the collection centres a net profit of Rs 5 lakh. The inclusive business model has been developed by a tripartite partnership between SJS, farmers’ trusts and SHGW.
Jain will also study an inclusive business model of small and marginal farmers in the apple value addition business chain.
Initiated by Stichting Het Groene Woutd (SHGW), a Dutch family foundation and social investor, and NGO Sri Jagdamba Samiti (SJS), this model has helped create employment, income, technical skill and capacity among the apple growers of Uttarakhand.
Mahavir Singh of Nogaon, for example, sold eight metric tons of apples to the Pisaon collection centre in 2011-12 at Rs 48 per kg. Earlier, he would sell to the market through intermediaries at a price of not more than Rs 36 per kg — this also included the cost of packing, commission and transportation, bringing down the net realisation to Rs 30 per kg.
Singh also earned a premium of Rs 6,000 and shares worth Rs 10,000 in FFT Himalayan Fresh Produce, a company that runs the controlled-atmosphere storage facility for storing apples in Nogaon and the collection centres. Singh nearly doubled his income to Rs 4 lakh, from Rs 2.4 lakh in the previous year (2010-11). He was also paid without any delay. Singh is not alone. A total of 4,000 farmers are now selling their apple crops to these collection centres of the farmers’ trusts, SHGW and SJS.
In the 2011-12 apple season, 880 participating apple farmers were paid between Rs 40 and Rs 55 per kg. A total of 430 metric tons of apples were procured and sold to FFT Himalayan at Rs 55-65 per kg. The latter sold the apples in the markets of Varanasi, Delhi, Dehradun and Jaipur at Rs 75-85 per kg. FFT Himalayan earned a net profit of Rs 7 lakh, the collection centres a net profit of Rs 5 lakh. The inclusive business model has been developed by a tripartite partnership between SJS, farmers’ trusts and SHGW.
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