Mumbai: With an estimated market size of $5 billion, India's the 14th largest advertising market in the world. And in the latest edition of the Gunn Report, it's finally broken into the Top 10 list of countries that have won the most advertising awards. That's up from the 13th spot last year.
The Gunn Report and Showreel of the Year is an annual publication, authored by Donald Gunn and Emma Wilkie, which ranks ad agencies across the world by their wins at the top creative awards shows. The report was first published in 1999 and the rankings are used by network agencies and marketers.
The report also names McCann World-Group India (Mumbai) as the most awarded Indian agency, a position the agency held in 2007. Taproot India (Mumbai), which topped the India chart in 2012 has slipped to the number 2 spot. In joint third position are JWT India (Mumbai) and Leo Burnett India (Mumbai & Delhi). The surprise this year is Ogilvy & Mather - from dominating the Gunn Report between 2008 and 2012, it's at the 5th spot this year. And Creativeland Asia, which shone in the 2011 and 2012 editions, failed to make it in the 2013 rankings.
"When I joined advertising, India was like an isolated island. But now the global advertising fraternity can relate to us with strong brand building and some great creative work," says Prasoon Joshi, Executive Chairman, McCann World-Group India. While mails and messages written to Colvyn Harris of JWT and Agnello Dias of Taproot did not get a response, Joshi admits such recognition helps an agency attract and nurture great talent. "Different award shows honor different kind of craft. But the Gunn Report gives the holistic picture about an agency," he says.
Success in my Habit
Tuesday, February 25, 2014
India, Canada sign audio-visual co-production pact
New Delhi: The Indian and Canadian Governments on Monday signed an audio-visual co-production deal. The deal was signed by Secretary in the Ministry of Information and Broadcasting Bimal Julka and the Canadian High Commissioner Stewart Beck.
In a statement, the I and B Ministry said the agreement would benefit producers from both the countries in pooling their creative, artistic, technical, financial and marketing resources for co-productions and lead to exchange of art and culture among the two countries.
The agreement is also expected to boost the utilisation of Indian locales for shooting and increase the visibility and prospects of India as a preferred film shooting destination and will lead to the inflow of foreign exchange into the country. “The agreement will also lead to the transparent funding of film production and boost export of Indian films into the Canadian market,” it added.
Similar agreements have been signed with Italy, the UK, Ireland, Germany, Brazil, France, New Zealand, Poland and Spain.
Under this agreement, films qualify as a national production in each of the partner nations and offer benefits such as government financial assistance, tax concessions and inclusion in domestic television broadcast quotas.
In a statement, the I and B Ministry said the agreement would benefit producers from both the countries in pooling their creative, artistic, technical, financial and marketing resources for co-productions and lead to exchange of art and culture among the two countries.
The agreement is also expected to boost the utilisation of Indian locales for shooting and increase the visibility and prospects of India as a preferred film shooting destination and will lead to the inflow of foreign exchange into the country. “The agreement will also lead to the transparent funding of film production and boost export of Indian films into the Canadian market,” it added.
Similar agreements have been signed with Italy, the UK, Ireland, Germany, Brazil, France, New Zealand, Poland and Spain.
Under this agreement, films qualify as a national production in each of the partner nations and offer benefits such as government financial assistance, tax concessions and inclusion in domestic television broadcast quotas.
Monday, February 24, 2014
Honda plans India R&D unit with investment of Rs 500 crore to develop affordable cars
The facility, Honda Genbetsu India (HGID), would focus on research and development and is likely to come up at the company's existing manufacturing plant at Greater Noida, sources with knowledge of the matter said.
It already has local R&D operations, which would likely be separated into the new unit, they said. The unit will likely come at an initial investment of around Rs 500 crore. According to sources in the automotive industry, this facility will extend support for Honda's localisation strategy for its running models as well as provide designing support for some upcoming India-specific models in the near-term.
After developing a phenomenally fuelefficient diesel engine and lining up some interesting products like the Mobilio multipurpose vehicle and the Jazz premium hatchback for India, Honda is enthusiastic about its prospects in the Indian auto market. "After the success of its India-specific Amaze sedan, Honda is revitalising its plans for this market.
It plans to develop smaller cars focusing on the Indian market where HGID would play a critical role," said a source. Honda sales have zoomed after the launch of its diesel cars, especially the Amaze.
It became the fourth largest carmaker in India in January, overtaking Tata Motors and Toyota Kirloskar Motors. It sold 15,714 cars in January, nearly three times compared with a year earlier.
Honda Cars India already operates another local entity, Honda Motor India, which takes care of its components and motor parts business. The new R&D unit would be the third business closely associated with its car manufacturing operations.
Responding to a query from ET, Honda Car India said it is committed to the Indian market and will expand the focus of its R&D operations towards more India-oriented products in coming years.
Frankfurt School ties up with Avanse to offer student loans
Avanse will provide loans for various courses at the Frankfurt School including courses such as Master of International Business, Master in Quantitative Finance, Master of Finance in India & Frankfurt, Master in Management, MBA in International Healthcare Management, Bachelors in Business Administration, and Bachelors in International Business Administration. Ranked 27th in the Financial Times Global Ranking , the Frankfurt school has 86 regional education centres throughout Germany. In India, Avanse is associated with over 400 educational institutions and consultants offering academic programmes in arts, sciences, engineering, management, medicine, music and more.
Google's Trekker brings monuments home
The opportunity to visit these archeological sites is available through the updated version of Google Maps through Street View and the Google Cultural Institute, which also provides information about the monuments while giving one a close tour. It also uses 3D modelling, and other Google technologies such as YouTube to help explore and appreciate these sites via videos, photos and in-depth information. This virtual walkthrough through the Street View option is seamless and as good as being there itself.
"When we launched this initiative five months ago, even we at Google were not sure if we could bring the Taj online. Today, I can say, it is a unique product. Google's mission is to make information accessible. Google is committed to helping preserve and showcase cultural heritage across the world," said Rajan Anandan, vice-president and managing director, Google India.
The 360-degree panoramic imagery is currently available for 30 historical sites, including the Taj, Humayun's Tomb, Qutb Minar, Red Fort, Jantar Mantar, Fatehpur Sikri, Itimad-ud-Daula, Agra Fort, Krishnagiri Fort, Rajagiri Fort, Muvar Koil & Aivar Koil, Muchu Kundesvara Temple, Perumal & ShivaTemple, Rock Cut Jain Temple, Thirumayam Fort, St George Fort, Chandragiri Fort, Amaravati Buddhist stupas and remains, Nagarjuna Konda Buddhist Stupas, Guntupalli Caves, Kanheri Caves, Lenyadri Caves, Shanirwada Fort, Aga Khan Palace, Raigad Fort, Hirakota Old Fort, Pandulena Caves, Bibi ka Makbara, Shahi Quila and Hoshang Shah's Tomb. Google is in the process to launch 70 more soon.
Google creates a dynamic, immersive online experience of historical exploration in an engaging and simple manner. The 3D imagery is sharp and the Trekker has captured the details up close, making the exploring experience as realistic as it can get. The tour is not just limited to the monument, one can also go around the streets nearby and take the sensation of walking around the site. One needs an internet connection with a decent speed for a smooth tour. Searching for the desired monument is easy.
One can view the monuments from every direction, distance and angle. The only limitation is the lack of any audio accompaniment with this visual treat, as the complete appreciation of any archeological site is possible only when some explanation is offered for what one sees. So, the guide only gives a limited tour. And the online experience can never match up to the real experience of standing at the great creations of the past. Yet, what it offers is definitely a technological marvel.
Trekker technology is already available for hundreds of world heritage sites.
Anandan said, "India is unique in terms of the sheer wealth of heritage and iconic historical monuments, and it has been our privilege to work with the ASI in collecting new 360-degree photos of 30 Indian heritage sites. We hope the imagery, which would reach almost one-third of the world's population, will help make India's heritage and culture more accessible to people at home and abroad."
4.14 m more rural mobile subscribers added in Jan
Vodafone India added the maximum rural subscribers of 1.31 million taking its total to 87.43 million during the month under review, according to data released by GSM operators’ body — Cellular Operators Association of India (COAI).
Bharti Airteladded 1.25 million users during the month. The New Delhi-based company, however, maintained its leadership position with a total of 91.40 million users. Idea Cellular, the Aditya Birla group company, added 0.87 million users, taking the total to 71.25 million, while Aircel added 0.40 million, increasing the total to 24.64 million in January.
Telewings (formerly Uninor) added 0.31 million subscribers, taking its total rural user base to 10.63 million as of January 31.
TN, Uttar Pradesh
The maximum rural subscriber additions of 574,412 came in from Tamil Nadu circle, while Uttar Pradesh (East) had the maximum rural user base of 29.42 million, according to COAI.
European Investment Bank (EIB) and IREDA sign Euro 200 million Agreement
Agreement for availing the LoC of Euro 200 million from EIB, was signed by Shri Debashish Majumdar, Chairman and Managing Director, IREDA and Mrs. Magdalena Alvarez Arza, Vice President, EIB in New Delhi today in the presence of Dr. Farooq Abdullah, Union Minister for New and Renewable Energy.
Speaking on this occasion, Mrs. Magdalena Alvarez Arza, Vice President, EIB said that European Investment Bank started funding Indian project in 1993 and in this period of two decades, India has now become the second largest recipient of EIB fund.
Dr. Satish B Agnihotri, Secretary, MNRE said that this LOC of Euro 200 million will facilitate in IREDA’s financing of existing and new projects of renewable energy.
To tackle the twin problems of widening power deficits and mounting carbon emissions, the Indian Government has set ambitious goals to increasingly displace fossil fuels with renewable sources. The agreement signed today supports the Government of India’s focus on a low carbon growth strategy for power generation in India. Developing renewable energy sources not only helps address environmental concerns, but also improves energy security and spurs regional economic development.
IREDA is the dedicated financing arm of the Ministry of New and Renewable Energy and has been spearheading the growth of renewable energy in the country. It has cumulatively financed over 2000 projects corresponding to a financial value of about Rs.22,500 crores. IREDA has been raising resources from various bilateral / multilateral agencies as also from domestic sources through both taxable and tax-free bonds.
Sunday, February 23, 2014
Mumbai builder Lodha Group buys second building on Carey Street in London for Rs 1,000 crore
The property spread over 1.15 acre on Carey Street is close to London School of Economics and is located in mid-town between city and West-End area of central London. Lodha has already paid around 10% of consideration as initial amount and the balance is expected to be paid in tranches with final payment by May end. Although the new property is a grade A office building with seven floors along with two basements, the group is planning to redevelop this into residential apartments.
The seller, West End of London Property Unit Trust, has already applied with the authorities there for conversion of the commercial property into a residential one. With residential redevelopment approval, Lodha can build apartments with total saleable area of around two lakh sq ft on the plot. Lodha Group confirmed the transaction in an email response to ET's query.
"Lodha plans to focus on London as one of our two main markets and we will continue to look for opportunities that come up in this market. We will serve London in the same manner that we serve Mumbai-—with world class product intended to serve all key market segments," a spokeswoman said. A person close to the transaction said that Lodha will use its internalaccruals and it is not planning to raise any debt to finance the transaction. In November, the developer bought the Canadian high commission's building spread over 0.67 acre, a stone's throw from Buckingham Palace.
This property is also expected to be converted into super luxury residences with total saleable area of 1.6 million sq ft. Lodha has already paid the initial amount to the Canadian government and rest of the money is expected to be paid by March end. Lodha Group, which is building World One, the tallest residential tower in India, had announced earlier that MacDonald House buy will also be funded through internal accruals.
The group has already set up a separate subsidiary to undertake and execute the proposed super luxury project and its other future plans in the UK. The developer recently hired Tyler Goodwin, former managing director of JP Morgan, as its new UK business chief executive officer.
Tyler had joined the company in January. In December 2012, Lodha Group acquired Washington House, the US Consulate property on Altamount Road in south Mumbai, for Rs 341.82 crore. The developer has already announced plans to build a 30-storey tower with sea-view apartments on this plot. Recently, Lodha Group also repaid debt worth Rs 825 crore it had raised through issuance of non-convertible debentures in early 2012.
IIT-Madras alumni network to raise Rs 100 cr
The network formally launched an innovation fund of $600,000 last year, one-fifth of which has been invested in seven-to-eight start-up firms as seed funding
Chennai: The alumni network of Indian Institute of Technology (IIT) Madras is planning to raise Rs 100 crore this year for various purposes, including funding innovations and start-ups of IITians. It is evaluating a business plan to set up a development office in the US for the proposed fund raising.
The network formally launched an innovation fund of $600,000 last year, one-fifth of which has been invested in seven-to-eight start-up firms as seed funding. This year, the fund is expected to have about $1 million to expend.
"We are planning to raise Rs 100 crore this year - Rs 70 crore from the US and the rest from India. Part of this would go to the innovation fund, while the rest would go to various other projects including research, entrepreneurship development, sustainability initiatives etc," said R Nagarajan, dean of international and alumni relations and professor, department of chemical engineering.
IIT-Madras alumni network, which has about 40,000 members, is looking at raising funds from various sources including big companies, foundations, high networth individuals, among others, to reach the target.
The institute also has an Alumni Entrepreneurship Forum, which allocates funds and acts as a mentor to the start-ups of the students and young alumni members. IIT-Madras also has platforms such as Centre for Innovation to support prototype development and Centre for Social Innovation and Entrepreneurship to support social entrepreneurship.
Nagarajan said the institute's incubation centre currently has about 20 start-ups. The centre is the single window for the students as well as alumni to get support for their business idea. Two months ago, the centre was allowed to take an equity between two and five per cent in start-ups. The equity holding of the centre would depend on the role it has taken in developing the business, he added.
Even if one out of many start-ups becomes a success, that would bring in value to the share-holding of the centre, Nagarajan pointed out.
Going forward, the fund would look to invest Rs 10-50 lakh in a venture depending on the potential, viability and profitability of the model.
The network has been raising funds under the name of IIT-Madras. So far, money from the US has been raised by the IIT-Madras Alumni Association of North America and sent to the alumni network's office in IIT-Madras. The money has not been raised as returnable investment, but as donation. Now, the alumni network is looking at raising money from non-alumni as well. This will also be by way of donation, where the investors will get tax benefits in return, Nagarajan said.
While the innovation fund was formally launched only last year, the pooling of money had started as early as three years ago.
Chennai: The alumni network of Indian Institute of Technology (IIT) Madras is planning to raise Rs 100 crore this year for various purposes, including funding innovations and start-ups of IITians. It is evaluating a business plan to set up a development office in the US for the proposed fund raising.
The network formally launched an innovation fund of $600,000 last year, one-fifth of which has been invested in seven-to-eight start-up firms as seed funding. This year, the fund is expected to have about $1 million to expend.
"We are planning to raise Rs 100 crore this year - Rs 70 crore from the US and the rest from India. Part of this would go to the innovation fund, while the rest would go to various other projects including research, entrepreneurship development, sustainability initiatives etc," said R Nagarajan, dean of international and alumni relations and professor, department of chemical engineering.
IIT-Madras alumni network, which has about 40,000 members, is looking at raising funds from various sources including big companies, foundations, high networth individuals, among others, to reach the target.
The institute also has an Alumni Entrepreneurship Forum, which allocates funds and acts as a mentor to the start-ups of the students and young alumni members. IIT-Madras also has platforms such as Centre for Innovation to support prototype development and Centre for Social Innovation and Entrepreneurship to support social entrepreneurship.
Nagarajan said the institute's incubation centre currently has about 20 start-ups. The centre is the single window for the students as well as alumni to get support for their business idea. Two months ago, the centre was allowed to take an equity between two and five per cent in start-ups. The equity holding of the centre would depend on the role it has taken in developing the business, he added.
Even if one out of many start-ups becomes a success, that would bring in value to the share-holding of the centre, Nagarajan pointed out.
Going forward, the fund would look to invest Rs 10-50 lakh in a venture depending on the potential, viability and profitability of the model.
The network has been raising funds under the name of IIT-Madras. So far, money from the US has been raised by the IIT-Madras Alumni Association of North America and sent to the alumni network's office in IIT-Madras. The money has not been raised as returnable investment, but as donation. Now, the alumni network is looking at raising money from non-alumni as well. This will also be by way of donation, where the investors will get tax benefits in return, Nagarajan said.
While the innovation fund was formally launched only last year, the pooling of money had started as early as three years ago.
Adani Ports bags Ennore container terminal project
Adani Ports emerged as the highest bidder by offering a revenue share of 37 per cent, beating Dubai-based DP World, which offered 27 per cent.
First in East
For the Gujarat-based $9-billion Adani group, it will be the first container terminal project in an eastern port.
It was short-listed for the mega container terminal at the Chennai port, but offered low revenue share, which was rejected by the port.
While Adani will invest Rs. 1,270 crore to build the terminal, Ennore Port will invest around Rs. 200 crore on deepening the berth and providing rail connectivity.
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