Bangalore: India's information technology industry body Nasscom has created a separate unit to drive its newfound enthusiasm for software products, and has set a target of increasing by nearly five-fold revenues from products by 2020.
The product council of the National Association of Software and Services Companies will be chaired by Ravi Gururaj, a serial entrepreneur who is the cofounder of a seed-stage angel fund Frictionless Ventures. The formation of a product council is one of the measures proposed by a committee headed by NR Narayana Murthy, the chief mentor of Infosys. The panel was established to bring Nasscom up to date with the current needs of the industry.
In 2012-13, Indian software products notched up around $2.2 billion (Rs 12,000 crore) in revenue, of which 30% came from the domestic market. The aim is for $10 billion (Rs 55,000 crore) in sales by 2020.
"Product companies and startups are the next growth engines for the industry," said Krishnakumar Natarajan, Nasscom chariman and CEO of software firm Mindtree. Nasscom, which represents India's $108 billion (Rs 5.9 lakh crore) software services sector, has been facing criticism from smaller and newer members for its inability to adequately address the aspirations of software product companies. In February, around 30 product companies formed a separate grouping called Indian Software Product Round Table (iSpirt). "We are a think-tank; we frame policies. As a trade body, Nasscom can lobby with the government to make them happen," said Sharad Sharma, one of the founder-members of iSpirt, welcoming Nasscom's move.
A survey of 100 product companies by Nasscom found that 68% felt market access and customer acquisition were key concerns. Raising funds and other capital related issues came second, followed by finding the right talent and scaling operations. Gururaj said the Nasscom product council would help in establishing large one, with small and medium businesses adopting locallydeveloped software products.
Areas such as cloud, softwareas-a-service, big data and analytics, social and mobility are large global opportunities.
"Technology is getting consumerised and this is where the numbers are," said Som Mittal, Nasscom's president. "If you solve a problem, you have a ready market," he observed, citing InMobi, Zoho and Slideshare as examples.
Success in my Habit
Tuesday, May 14, 2013
India's entry into Europe club to help SMEs expand footprint
New Delhi: India has become a member of the Enterprise Europe Network (EEN) - the 54th country to do so - in a bid to facilitate the flow of trade, investment and technology between SMEs in India and the European Union (EU), according to a recent issue of the CII newsletter, MSME Business.
The EEN works through local business organisations to help SMEs make the most of the European marketplace. India's entry into the EEN will give the country's SMEs access to Europe's large database of cutting-edge technologies, with companies from the 27-member bloc both offering and seeking research and commercial applications in 17 sectors, including agro-food, automotive, transportation and logistics, biotech and health care.
The EU has been a difficult market for Indian SMEs, given its complexities, stringent rules and protectionist tendencies, but India's membership of the EEN is expected to make a difference. CII, along with the European Business and Technology Centre (EBTC) and the Federation of Indian Export Organisations are partners in this initiative, and contact points for Indian SMEs.
The network serves as a one-stop shop for enterprises looking to go global with their innovative ideas. The EEN can provide insights on sources of venture capital and loans; the best way to sell a business plan to investors; getting aid from regional, national or EU authorities; and accessing public funds and grants for research and development.
The EEN's business cooperation database of some 23,000 profiles and business support organisations from 54 countries enables SMEs to utilise it to search for international business partners and sourcing new technologies and advisory services on issues such as intellectual property, going international, or EU laws and standards. The network ensures that SMEs looking to expand their business to another country find competent and trustworthy partners, as well as assess how EU laws and regulations affect businesses.
The EEN works through local business organisations to help SMEs make the most of the European marketplace. India's entry into the EEN will give the country's SMEs access to Europe's large database of cutting-edge technologies, with companies from the 27-member bloc both offering and seeking research and commercial applications in 17 sectors, including agro-food, automotive, transportation and logistics, biotech and health care.
The EU has been a difficult market for Indian SMEs, given its complexities, stringent rules and protectionist tendencies, but India's membership of the EEN is expected to make a difference. CII, along with the European Business and Technology Centre (EBTC) and the Federation of Indian Export Organisations are partners in this initiative, and contact points for Indian SMEs.
The network serves as a one-stop shop for enterprises looking to go global with their innovative ideas. The EEN can provide insights on sources of venture capital and loans; the best way to sell a business plan to investors; getting aid from regional, national or EU authorities; and accessing public funds and grants for research and development.
The EEN's business cooperation database of some 23,000 profiles and business support organisations from 54 countries enables SMEs to utilise it to search for international business partners and sourcing new technologies and advisory services on issues such as intellectual property, going international, or EU laws and standards. The network ensures that SMEs looking to expand their business to another country find competent and trustworthy partners, as well as assess how EU laws and regulations affect businesses.
Monday, May 13, 2013
Essel Pallavapuram bags Rs 100-cr waste management project
New Delhi: Essel Pallavapuram and Tambaram MSW Private Ltd (EPTMPL) will set up a Rs 100-crore municipal solid waste management project to handle household waste generated in Pallavaram and Tambaram municipalities.
The company bagged the contract from Pallavaram Municipality to set up the integrated municipal solid waste management project in a Public-Private Partnership (PPP).
Clean energy
The waste management plant will come up at Vengadamangalam on a Design, Build, Operate and Transfer (DBOT) basis.
Essel Pallavapuram will treat 300 tonnes of municipal solid waste daily and handle the operations and maintenance for 20 years. The plant is expected to be commissioned by April 2014. The project includes a 2.9-MW waste to energy project and disposal of waste from 3.5 lakh households.
It will use biological treatment, non-incineration-based waste-to-energy technology, construct a transfer station-cum-material recovery facility in Ganapathipuram and Kannadapalayam using technologies to generate refuse-derived fuel and eco-bricks from inert materials and organic compost at the processing facility.
The company will also take up the scientific closure of the existing dump yard at Ganapathipuram and Kannadapalayam as per MSW rules 2000.
The company bagged the contract from Pallavaram Municipality to set up the integrated municipal solid waste management project in a Public-Private Partnership (PPP).
Clean energy
The waste management plant will come up at Vengadamangalam on a Design, Build, Operate and Transfer (DBOT) basis.
Essel Pallavapuram will treat 300 tonnes of municipal solid waste daily and handle the operations and maintenance for 20 years. The plant is expected to be commissioned by April 2014. The project includes a 2.9-MW waste to energy project and disposal of waste from 3.5 lakh households.
It will use biological treatment, non-incineration-based waste-to-energy technology, construct a transfer station-cum-material recovery facility in Ganapathipuram and Kannadapalayam using technologies to generate refuse-derived fuel and eco-bricks from inert materials and organic compost at the processing facility.
The company will also take up the scientific closure of the existing dump yard at Ganapathipuram and Kannadapalayam as per MSW rules 2000.
Piramal buys 10% stake in Shriram Transport
Mumbai: Diversified conglomerate Piramal Enterprises on Friday purchased 10 per cent stake in Shriram Transport Finance Company Limited.
Piramal bought 22 million shares of Shriram Transport, part of the $9-billion Shriram Group, in a deal worth Rs 1,652 crore through an open market transaction. Piramal Enterprises bought the stake from private equity major TPG.
Shares of Shriram Transport closed at Rs 760.5, up 3.6 per cent on the BSE. Piramal paid Rs 723 a share, a 1.15 per cent discount to the closing price of Rs 734.1 on Thursday.
In February, TPG sold half of its 20 per cent stake in Shriram Transport to a clutch of institutional investors and raised about $305 million. TPG Capital, through its arm Newbridge India Investments-II, owned 10.07 per cent stake in Shriram Transport before Friday’s sale.
The stake buyout is in line with Piramal’s strategy to strengthen presence in the NBFC business. Ajay Piramal, chairman, Piramal Enterprises, said, “We took interest in this company because we are interested in the financial services sector. We have made a significant investment already with our NBFC which is lending on Friday to real estate.”
Piramal has an NBFC, with a loan book of Rs 1,000 crore, focused on real estate, education-related infrastructure and medical equipment. The cash-rich group recently struck deals with infrastructure company Navayuga Road Projects and renewable energy firm Green Infra. Piramal Enterprises also bought 11 per cent stake in Vodafone India, the second largest telecom firm in the country by revenues, for Rs 5,863 crore last year.
Shriram Transport, one of India’s largest player in commercial vehicle finance, had revenues of Rs 7,014 crore and net profit of Rs 1,463 crore for the financial year ended March 31. The company had assets of over Rs 52,717 crore under management as of March 31, 2013.
Piramal said, “We believe in the strategy of the company and we are long-term investors in this. We were till now only in the wholesale space. This gives us an exposure to the retail space.” According to him, there is no immediate plan to increase stake in Shriram Transport.
Piramal’s NBFC business is spearheaded by A K Purwar, former chairman of State Bank of India, and Sudha Ravi, who had managed the Washington operations of State Bank of India.
Purwar, who was heading the private equity business of Piramal Group, was recently promoted as head of Piramal Capital, the holding company which runs the finance business of Ajay Piramal Group.
Piramal Group, which sold its domestic pharmaceutical business to Abbott for Rs 17,500 crore, had floated NBFC arm Piramal Finance in 2011.
India Venture Advisors, the private equity arm of Piramal Enterprises Ltd, is raising Rs 1,000 crore for a healthcare-focused fund. India Venture, founded in 2007 by Ajay and Purwar, focuses on health care and life sciences investments.
Piramal bought 22 million shares of Shriram Transport, part of the $9-billion Shriram Group, in a deal worth Rs 1,652 crore through an open market transaction. Piramal Enterprises bought the stake from private equity major TPG.
Shares of Shriram Transport closed at Rs 760.5, up 3.6 per cent on the BSE. Piramal paid Rs 723 a share, a 1.15 per cent discount to the closing price of Rs 734.1 on Thursday.
In February, TPG sold half of its 20 per cent stake in Shriram Transport to a clutch of institutional investors and raised about $305 million. TPG Capital, through its arm Newbridge India Investments-II, owned 10.07 per cent stake in Shriram Transport before Friday’s sale.
The stake buyout is in line with Piramal’s strategy to strengthen presence in the NBFC business. Ajay Piramal, chairman, Piramal Enterprises, said, “We took interest in this company because we are interested in the financial services sector. We have made a significant investment already with our NBFC which is lending on Friday to real estate.”
Piramal has an NBFC, with a loan book of Rs 1,000 crore, focused on real estate, education-related infrastructure and medical equipment. The cash-rich group recently struck deals with infrastructure company Navayuga Road Projects and renewable energy firm Green Infra. Piramal Enterprises also bought 11 per cent stake in Vodafone India, the second largest telecom firm in the country by revenues, for Rs 5,863 crore last year.
Shriram Transport, one of India’s largest player in commercial vehicle finance, had revenues of Rs 7,014 crore and net profit of Rs 1,463 crore for the financial year ended March 31. The company had assets of over Rs 52,717 crore under management as of March 31, 2013.
Piramal said, “We believe in the strategy of the company and we are long-term investors in this. We were till now only in the wholesale space. This gives us an exposure to the retail space.” According to him, there is no immediate plan to increase stake in Shriram Transport.
Piramal’s NBFC business is spearheaded by A K Purwar, former chairman of State Bank of India, and Sudha Ravi, who had managed the Washington operations of State Bank of India.
Purwar, who was heading the private equity business of Piramal Group, was recently promoted as head of Piramal Capital, the holding company which runs the finance business of Ajay Piramal Group.
Piramal Group, which sold its domestic pharmaceutical business to Abbott for Rs 17,500 crore, had floated NBFC arm Piramal Finance in 2011.
India Venture Advisors, the private equity arm of Piramal Enterprises Ltd, is raising Rs 1,000 crore for a healthcare-focused fund. India Venture, founded in 2007 by Ajay and Purwar, focuses on health care and life sciences investments.
Tata Power in pact to set up $700 million -hydro power projects in Georgia via JV
New Delhi: Tata Power Co is in pact with Clean Energy Invest AS and IFC InfraVentures to develop two hydro power projects totalling 400 mw in Georgia at an estimated cost of $ 700 million, the Tata group power utility said Friday.
Tata Power and Clean Energy would hold 40% stake each in the joint venture.
The hydro projects would be developed in three phases with the first phase expected to be completed before mid-2016. They will primarily supply electricity to Turkey.
"We are delighted to be broadening our foothold in key international markets through this development. Georgia is a great country to work in and Turkey is a fast evolving energy market in Europe," Anil Sardana, Managing Director, Tata Power, was quoted as saying in a statement.
Tata Power aims to generate 20-25 % of its total generation capacity from clean energy sources. It has an installed generation capacity of 8,521 mw in India and a presence in all the segments of the power sector-- generation (thermal, hydro, solar and wind), transmission, distribution and trading. Tata Power has been exploring opportunities aboard disappointed at the slowdown in the Indian power se
Tata Power and Clean Energy would hold 40% stake each in the joint venture.
The hydro projects would be developed in three phases with the first phase expected to be completed before mid-2016. They will primarily supply electricity to Turkey.
"We are delighted to be broadening our foothold in key international markets through this development. Georgia is a great country to work in and Turkey is a fast evolving energy market in Europe," Anil Sardana, Managing Director, Tata Power, was quoted as saying in a statement.
Tata Power aims to generate 20-25 % of its total generation capacity from clean energy sources. It has an installed generation capacity of 8,521 mw in India and a presence in all the segments of the power sector-- generation (thermal, hydro, solar and wind), transmission, distribution and trading. Tata Power has been exploring opportunities aboard disappointed at the slowdown in the Indian power se
SBI signs pact with Korea bank to support SMEs
New Delhi: State Bank of India has signed a memorandum of understanding with Industrial Bank of Korea to support the business activities of Korean small and medium enterprises entering or already operating in India.
The MoU would assist the Korean companies in meeting their financial requirements from SBI.
Currently, there are 480 Korean SMEs operating in India. Industrial Bank of Korea currently does not have any branch presence in India.
SBI is also setting up a representative office in Seoul. The MoU will help SBI get more Korean business not only for domestic branches, but also in that country.
The MoU was signed last week by Hemant Contractor, Managing Director & Group Executive on behalf of State Bank of India and Jun-Hee Cho, Chairman and Chief Executive Officer of Industrial Bank of Korea.
The MoU would assist the Korean companies in meeting their financial requirements from SBI.
Currently, there are 480 Korean SMEs operating in India. Industrial Bank of Korea currently does not have any branch presence in India.
SBI is also setting up a representative office in Seoul. The MoU will help SBI get more Korean business not only for domestic branches, but also in that country.
The MoU was signed last week by Hemant Contractor, Managing Director & Group Executive on behalf of State Bank of India and Jun-Hee Cho, Chairman and Chief Executive Officer of Industrial Bank of Korea.
India in sharp focus at Dubai investment fair
Dubai: A few moves by the RBI to facilitate investments by NRIs as well as by foreign nationals could be a game-changer for those looking to invest in India. Speaking at a seminar at the Business Line Investment Opportunities Fair presented by NSE in Dubai recently, Krishnan Ramachandran, CEO, Barjeel Geojit Securities, said the deregulation of interest rates for NRE accounts in India has allowed NRIs a solid tax-free avenue of investments. The opening of up new avenues for investments, especially for foreign retail investors through the qualified foreign investors (QFI) route, enables them to take direct exposure in the Indian equity and debt markets, where the returns are much higher than in their own domestic markets, he said.
Ramachandran pointed out that almost all nationals from the UAE can now invest directly in Indian markets like any other NRI. He was emphatic that the government can do better if it allowed a freer rein for NRIs to invest. K. Hari, Vice President, National Stock Exchange, who spoke on investor protection for those who trade on the NSE, said the exchange handles 250 million messages and 10 million trades a day. “What this means for an investor, be it an FII or retail investor, if this is the volume of trade that happens, it gives you liquidity and that is best for an investor.”
Ramachandran pointed out that almost all nationals from the UAE can now invest directly in Indian markets like any other NRI. He was emphatic that the government can do better if it allowed a freer rein for NRIs to invest. K. Hari, Vice President, National Stock Exchange, who spoke on investor protection for those who trade on the NSE, said the exchange handles 250 million messages and 10 million trades a day. “What this means for an investor, be it an FII or retail investor, if this is the volume of trade that happens, it gives you liquidity and that is best for an investor.”
Saturday, May 11, 2013
Usha Martin to invest Rs 30 cr in Thai unit
Kolkata: Steel wire rope maker Usha Martin Ltd will invest Rs 30 crore for the equal joint venture between its existing Thai subsidiary Usha Siam Steel Industries Public Co Ltd and Tesac Wire Rope Co of Japan.
Rajeev Jhawar, MD, Usha Martin, said the construction for the proposed 1,000 tonnes-a-day greenfield facility in Thailand was on and the unit would be in operation by April. Usha Siam has it 3,000-tpd unit in an industrial park off Bangkok. The new unit will also come up in the same area.
At a press conference on Thursday, Jhawar said that Usha Martin was expanding its marketing to Russia, South Africa and Latin America.
The company has two marketing
subsidiaries in Europe and a R&D arm.
At home, its expansion plans are nearing completion. It has commissioned a coke oven battery with 17.5 MW waste heat-recovered power unit in March at its Jamshedpur complex. The second battery along with 17.5 MW unit would be ready by August, he said. “In September, the 1.2-mt pellet plant will be ready,” Jhawar added.
The company reported a net profit of Rs 9 crore in Q4 to March 31, 2013, against Rs 76 lakh in the corresponding quarter in 2011-12. The annual (FY2013) net profit stood at Rs 7.05 crore (net loss of Rs 32.77 crore).
The board recommended dividend of 15 paise a share of Rs 1 each. The stock on Thursday closed at Rs 26.5 on the BSE, up three per cent.
Rajeev Jhawar, MD, Usha Martin, said the construction for the proposed 1,000 tonnes-a-day greenfield facility in Thailand was on and the unit would be in operation by April. Usha Siam has it 3,000-tpd unit in an industrial park off Bangkok. The new unit will also come up in the same area.
At a press conference on Thursday, Jhawar said that Usha Martin was expanding its marketing to Russia, South Africa and Latin America.
The company has two marketing
subsidiaries in Europe and a R&D arm.
At home, its expansion plans are nearing completion. It has commissioned a coke oven battery with 17.5 MW waste heat-recovered power unit in March at its Jamshedpur complex. The second battery along with 17.5 MW unit would be ready by August, he said. “In September, the 1.2-mt pellet plant will be ready,” Jhawar added.
The company reported a net profit of Rs 9 crore in Q4 to March 31, 2013, against Rs 76 lakh in the corresponding quarter in 2011-12. The annual (FY2013) net profit stood at Rs 7.05 crore (net loss of Rs 32.77 crore).
The board recommended dividend of 15 paise a share of Rs 1 each. The stock on Thursday closed at Rs 26.5 on the BSE, up three per cent.
EMC's investment in India to touch $1.5 billion by 2014
Las Vegas: Storage solutions company EMC Corporation’s investment in India is on track to reach $1.5 billion by 2014. The company had announced the investment plan in 2009.
Starting with a modest investment of $100 million in 2005, EMC increased the investment in India five times in 2010 and reached $1.5 billion by the end of 2014, said David Webster, President, Asia-Pacific and Japan, EMC.
The employee base of EMC will also increase proportionately. In 2003, EMC, which has a large Centre of Excellence centre in Bangalore and also a large sales and marketing office in India, had less than 100 employees , but now has over 3,500, said Webster. The company does not break country-specific revenue.
EMC has adopted the ‘Made for India, Made in India’ solution strategy well. Through this, it has managed to win large deals, including the Unique Identification Number. It has nearly 3,000 customers in India who use its storage systems to house large amounts of data.
Pivotal, in which EMC is a large shareholder, will follow EMC in increasing its employee base in Pune.
However, having won a deal from a large Indian company, Pivotal now wants to use India not only for sales and marketing but also for research and development.
“We may not have the same size as EMC, but would definitely want to grow, to say around 100 or so,” said Paul Maritz, Chief Executive Officer, Pivotal.
Starting with a modest investment of $100 million in 2005, EMC increased the investment in India five times in 2010 and reached $1.5 billion by the end of 2014, said David Webster, President, Asia-Pacific and Japan, EMC.
The employee base of EMC will also increase proportionately. In 2003, EMC, which has a large Centre of Excellence centre in Bangalore and also a large sales and marketing office in India, had less than 100 employees , but now has over 3,500, said Webster. The company does not break country-specific revenue.
EMC has adopted the ‘Made for India, Made in India’ solution strategy well. Through this, it has managed to win large deals, including the Unique Identification Number. It has nearly 3,000 customers in India who use its storage systems to house large amounts of data.
Pivotal, in which EMC is a large shareholder, will follow EMC in increasing its employee base in Pune.
However, having won a deal from a large Indian company, Pivotal now wants to use India not only for sales and marketing but also for research and development.
“We may not have the same size as EMC, but would definitely want to grow, to say around 100 or so,” said Paul Maritz, Chief Executive Officer, Pivotal.
EMC's investment in India to touch $1.5 billion by 2014
Las Vegas: Storage solutions company EMC Corporation’s investment in India is on track to reach $1.5 billion by 2014. The company had announced the investment plan in 2009.
Starting with a modest investment of $100 million in 2005, EMC increased the investment in India five times in 2010 and reached $1.5 billion by the end of 2014, said David Webster, President, Asia-Pacific and Japan, EMC.
The employee base of EMC will also increase proportionately. In 2003, EMC, which has a large Centre of Excellence centre in Bangalore and also a large sales and marketing office in India, had less than 100 employees , but now has over 3,500, said Webster. The company does not break country-specific revenue.
EMC has adopted the ‘Made for India, Made in India’ solution strategy well. Through this, it has managed to win large deals, including the Unique Identification Number. It has nearly 3,000 customers in India who use its storage systems to house large amounts of data.
Pivotal, in which EMC is a large shareholder, will follow EMC in increasing its employee base in Pune.
However, having won a deal from a large Indian company, Pivotal now wants to use India not only for sales and marketing but also for research and development.
“We may not have the same size as EMC, but would definitely want to grow, to say around 100 or so,” said Paul Maritz, Chief Executive Officer, Pivotal.
Starting with a modest investment of $100 million in 2005, EMC increased the investment in India five times in 2010 and reached $1.5 billion by the end of 2014, said David Webster, President, Asia-Pacific and Japan, EMC.
The employee base of EMC will also increase proportionately. In 2003, EMC, which has a large Centre of Excellence centre in Bangalore and also a large sales and marketing office in India, had less than 100 employees , but now has over 3,500, said Webster. The company does not break country-specific revenue.
EMC has adopted the ‘Made for India, Made in India’ solution strategy well. Through this, it has managed to win large deals, including the Unique Identification Number. It has nearly 3,000 customers in India who use its storage systems to house large amounts of data.
Pivotal, in which EMC is a large shareholder, will follow EMC in increasing its employee base in Pune.
However, having won a deal from a large Indian company, Pivotal now wants to use India not only for sales and marketing but also for research and development.
“We may not have the same size as EMC, but would definitely want to grow, to say around 100 or so,” said Paul Maritz, Chief Executive Officer, Pivotal.
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