India

FICCI report cites learnings from UK to create successful innovation ecosystem in India

FICCI report cites learnings from UK to create successful innovation ecosystem

New Delhi, [India], Feb. 22 : A report on the vibrancy of the startup ecosystem in the UK and its lessons for India's developing startup scene was launched on Tuesday.

The report, written by the Federation of Indian Chambers of Commerce and Industry (FICCI), and its India Advisory Group in the UK, looks at the British experience in creating a thriving startup ecosystem and what learnings the Indian central and state governments could take from it. The report's partners are techUK, Indian Angel Network and London & Partners.

The report identifies the ingredients to create a successful innovation ecosystem, including accommodative policy, entrepreneurial culture, availability of human capital, access to markets, access to finance and institutional support.

Tammy Trade's B2B e-marketplace takes off with over 300 deals

Tammy Trade's B2B e-marketplace takes off with over 300 deals

New Delhi, [India], Feb. 22 : Tammy Trade, India's fastest growing B2B e-marketplace, is off to a flying start since its launch in October 2016. In the agro-commodities space, Tammy Trade has already facilitated bulk orders for paddy, wheat, rice, soya and maize to name a few, with sales volumes ranging from 200 to 2600 tons.

Done Deals include bulk orders initiated by buyers in Kerala, Tamil Nadu, Maharashtra, NCR and fulfilled by Tammy Trade's Verified Sellers across India. In this short duration Tammy Trade has also facilitated a few cross border transactions. Numerous deals have also been concluded in office supplies and lifestyle products. Over 300 done deals across verticals is true testimony to the momentum generated by the platform and an affirmation of its business model.

Verizon and Ericsson collaborate on global virtual network services

Verizon and Ericsson collaborate on global virtual network services

New Delhi, [India], Feb. 22 : Verizon Enterprise Solutions has partnered with Ericsson to provide enabling technologies for Verizon Virtualised Managed Network Services offerings that will be rolled out globally.

The self-service offerings give enterprises flexibility to dynamically combine virtualised features from a catalog of offerings, such as security packages, WAN optimisation and data center load balancing.

Ericsson is providing end-to-end dynamic orchestration, closed-loop service assurance and virtual network function (VNF) onboarding and testing. The solution is based on Ericsson's orchestration solution in conjunction with consulting and systems integration services.

HTC launches U Series of smartphones

HTC launches U Series of smartphones

New Delhi, [India], Feb. 22 : HTC Corporation, a leading innovator in mobile and virtual reality technology, unveiled the HTC U Ultra and the HTC U Play smartphones in the Indian market, on Tuesday.

The Phones embody everything that is brilliant, unique, sophisticated and a reflection of everything that is beautiful. Both the smartphones come with beautifully 3D contoured, liquid surface, adaptive HTC U sonic technology for personalised hearing and a unique combination of MegaPixel and UltraPixel camera technology on the front to provide vivid light, color and detail.

Gemalto, Microsoft join forces to provide seamless connectivity for Windows 10 devices

Gemalto, Microsoft join forces to provide seamless connectivity for Windows 10

New Delhi [India], Feb 21 : World leader in digital security Gemalto is presenting the newest release of its On Demand Connectivity and eSIM technology for Windows 10 devices, in connection with Microsoft.

Gemalto's release is compliant with the latest specifications and guidelines for remote SIM provisioning as laid out by the GSM Association (GSMA), a global association of mobile device makers and mobile network operators.

Gemalto and Microsoft have teamed up to make this advance a reality for end users to have a secure and ubiquitous connectivity experience. Gemalto's On-Demand Connectivity subscription management solution, together with Windows 10 native eSIM support enable consumers to seamlessly manage the connectivity experience of their devices.

Vivo Healthcare aims to establish 100 training centres by the end of 2017

Vivo Healthcare aims to establish 100 training centres by the end of 2017

New Delhi [India], Feb. 21 : India's first healthcare education and training company, Vivo Healthcare is eyeing major expansion across India, South Asia and the Middle East, following fresh strategic funding from Netherlands-based ICCO Investments.

As a global development organisation, ICCO will support Vivo's plans to expand into various emerging markets which have a need for training large numbers of healthcare workers.

This round of investment by Capital 4 Development (A Fund managed by ICCO Investments) follows an earlier investment by Springboard Ventures, a unit of Bennett, Coleman & Co Ltd. This is also a first such investment by a leading capital organisation into a healthcare training company in India.

Siemens to deploy state-of-the-art signalling systems for Nagpur Metro

Siemens to deploy state-of-the-art signalling systems for Nagpur Metro

New Delhi [India], Feb. 21 : Siemens Limited and Siemens Rail Automation Ltd. S.A.U Spain have jointly won an order worth Rs. 287 crore to supply state-of-the-art signaling technology for the first two metro lines of the Nagpur Metro, the North-South and the East-West Corridors.

The order received by the companies has Rs. 146 crore as Siemens Limited's share.

The project comprises the deployment and installation of the Siemens communications-based train control (CBTC) solution Trainguard MT for 38.2 kilometers of double track with 36 stations and two depots, as well as onboard equipment for 23 three-car trains.

Looking forward to GST for smoother cost cutting mechanisms, says VP Kirloskar

Looking forward to GST for smoother cost cutting mechanisms, says VP Kirloskar

New Delhi [India], Feb. 21 : The most anticipated Goods and Services Tax (GST) bill, which is most likely to be a game-changer in terms of cost cutting will provide leverage to implement cost cutting mechanisms, thus paving way for consumers to avail Gensets at lower costs, said Sanjeev Nimkar, Vice President, Business Head Kirloskar Oil Engines Ltd., at the launch of their new range of High Horsepower (HHP) Gensets.

"Rather than the Union Budget 2017-18, we are looking forward to GST, as we believe it will help in increasing accessibility of our products to consumers at lower cost," said Sanjeev Nimkar in an interview to ANI here today.

Time to move on from demonetisation: HDFC Chairman

 HDFC Bank Chairman Deepak Parekh

New Delhi [India], Feb. 21 : After relentless debates have been underway discussing the impact of demonetisation, HDFC Bank Chairman Deepak Parekh on Tuesday stated that it is high time this discussion ended, while casting his vote in Mumbai today in the BMC polls.

Speaking to ANI outside the polling booth, Parekh revealed that demonetisation is a beneficial initiative and will have a positive outcome on the economy in the long run. "Demonetisation is just one out of the Government's many plans drafted towards the development of this country. It was necessary to eradicate black money and has come at the right stage in our country's economic growth," revealed Parekh.

OUP ventures into healthcare academic and clinical solutions in India

OUP ventures into healthcare academic and clinical solutions in India

New Delhi [India], Feb. 21 : Known for its diverse publishing programmes across different disciplines, Oxford University Press (OUP) introduced its medical publishing programme to India.

OUP's Medicine and Health publishing programme strives to provide excellent content, authored by experts across the globe and mapped to the requirements of the medical fraternity in the region.

The content made available to readers is a blend of thoroughly researched and developed concepts that have undergone in-depth peer reviews for ensuring quality scholarship.

Fortis Healthcare partners with Excelity for payroll and benefits administration

Fortis Healthcare partners with Excelity for payroll and benefits administration

New Delhi [India], Feb. 21 : Excelity Global, India's largest provider of payroll administration, benefits and human capital management, announced its collaboration with Fortis Healthcare, on Monday.

"We take pride that Fortis has chosen Excelity as its partner of choice to manage their payroll and benefits operations. Organisations today are looking to streamline their payroll and benefits administration process while gaining process efficiencies and Excelity has been instrumental in doing this on a continuous basis," said Sumit Sabharwal, CEO (Managed Services), Excelity Global.

As part of this strategic engagement, Excelity will leverage its HR outsourcing experience to manage payroll and benefits for over 22,000 colleagues within Fortis Healthcare and other group companies.

Infosys denies allegations made by whistleblower's letter

Infosys denies allegations made by whistleblower's letter

New Delhi [India], Feb. 21 : IT solutions provider Infosys retaliated against allegations made in the anonymous whistleblower's letter that was published in newspapers on Monday, stating that the assertions made are libellous and are aimed at tarnishing the image of Infosys and its management.

"We categorically state that no member of the Infosys management team was involved in any prior investments in Panaya, and insinuations that anyone from the management team at Infosys benefitted from this acquisition are misleading and slanderous", the statement read.

Flipkart, Microsoft forge cloud partnership to expand e-commerce in India

Flipkart, Microsoft forge cloud partnership to expand e-commerce in India

New Delhi [India], Feb 20 : Microsoft on Monday announced its strategic partnership with Flipkart to provide consumers in India with the best online shopping service.

As a first step in the broad collaboration between the two companies, Flipkart will adopt Microsoft Azure as its exclusive public cloud platform.

Microsoft CEO Satya Nadella and Flipkart Group CEO Binny Bansal announced the news today at an event in Bangalore.

"At Microsoft, we aim to empower every Indian and every Indian organization with technology and key to this is forging strategic partnerships with innovative companies like Flipkart," said CEO Microsoft, Satya Nadella.

Excited about the potential of augmented reality: Satya Nadella

Excited about the potential of augmented reality: Satya Nadella

New Delhi [India], Feb 20 : India-born chief executive of Microsoft Satya Nadella on Monday said that the company is very excited about the potential of augmented reality along with Microsoft's Cortana's AI offering, which has the capability to do human-level speech recognition.

While speaking at an event in Bangalore here today, the Microsoft chief said "Storage network is fuelling Artificial Intelligence revolution. We are excited about Microsoft Cortana's AI offering that has the capability to do human-level speech recognition."

Nadella, who will engage with India's digital transformation journey with Infosys co-founder Nandan Nilekani, is also keen to pitch Microsoft's Azure cloud platform to users.

True Balance raises Rs. 100 crore in Series B funding

True Balance raises Rs. 100 crore in Series B funding

New Delhi [India], Feb 20 : India's top mobile balance management service app True Balance on Monday announced that it has raised a sum of Rs. 100 crore in Series B round of funding from Softbank Ventures Korea.

The company announced that some renowned VCs came only after eight months since Balance Hero received the Series A investment in April 2016.

With this development, True Balance will be looking at an accelerated growth towards achieving a 100 million downloads for the next year.

The investment includes additional funding from the global venture capital

firm SoftBank Ventures Korea which participated in the Series A round and funding from new investors including IMM Investment, Mega investment, Korea Development Bank, and Capston Partners.

ETV Telugu now exclusively available on YuppTV, in United States

ETV Telugu now exclusively available on YuppTV, in United States

New Delhi [India], Feb 20 : Global OTT leader in South-Asian content YuppTV on Monday announced that it has entered an exclusive partnership with ETV Telugu in the United States.

As part of the association, users will now be able to enjoy the entertainment content from ETV Telugu, while the brand is also introducing ETV Life, ETV Plus, ETV Cinema and ETV Abhiruchi for the first time in the US Market.

Viewers can watch all the popular ETV Telugu shows like Padutha Teeyaga, Jabardasth, Extra Jabadasth, Manasu Mamatha exclusively on YuppTV. The association would help ETV Telugu extend its offerings globally.

Videocon's connect broadband, MobiKwik tie-up to promote cashless digital transactions

Videocon's connect broadband, MobiKwik tie-up to promote cashless digital transa

New Delhi [India], Feb 20 : Connect Broadband, the telecom arm of the Videocon Group and market leader in broadband in Punjab has collaborated with Indian mobile wallet major 'MobiKwik' to offer and promote cashless digital transactions.

As a part of this strategic tie up, any connect broadband customer who makes his connect broadband bill payment using the MobiKwik wallet service can avail a cash-back of up to Rs. 150 or 15 percent of the bill amount, whichever is lower.

GST council expected to finalise laws at the Udaipur meeting today

GST council expected to finalise laws at the Udaipur meeting today

New Delhi [India], Feb. 18 : The 10th council meeting of the Goods and Services Tax (GST) to vet the draft supporting legislations crucial for its implementation has begun at Udaipur here today.

The meeting is being chaired by the GST council who aim to get clearance on a number of issues, including the formation of a GST Appellate Tribunal, which will discuss matters related to GST implementation and suggestions.

Basmati rice exports delayed due to resumption of imports by Iran, says ICRA

Basmati rice exports delayed due to resumption of imports by Iran, says ICRA

New Delhi [India], Feb. 18 : Delay in resumption of imports by Iran is likely to hinder the recovery in Indian Basmati rice exports, says credit rating agency, ICRA, in its latest update note on Indian Basmati rice industry.

ICRA has estimated this as a temporary delay, considering Iran's insufficient domestic rice production and depleting inventory levels to meet its demand.

In ICRA's view, the price cap of USD 850 per metric tonne (MT) could pose further hurdles for the Basmati rice industry; given that during the current procurement season average Basmati paddy prices have been higher by 20-25 percent. Thus an inflow of orders from Iran, even after the import ban is lifted, remains to be seen.

eGovernments Foundation signs MoU with Kozhikode Municipal Corporation

eGovernments Foundation signs MoU with Kozhikode Municipal Corporation

New Delhi [India], Feb. 17 : Bengaluru based eGovernments Foundation has signed an agreement with Kozhikode Municipal Corporation to develop building plan automation software.

Kozhikode Municipal Corporation Secretary Mrunmai Joshi, eGovernments Foundation CEO Viraj Tyagi and Malabar Chamber of Commerce President P.V. Nidheesh were present and signed the agreement to develop the software for the city. The system will be functional in three months post software installation in the corporation office and training of the staff.

"The Building Plan module will greatly help in improving processing time, transparency and end to end tracking of building plan applications - ultimately improving the ease of doing business," said eGovernments Foundation CEO, Viraj Tyagi.




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