Dec 1, 2016 - Modi to 'Amazonize' $400 billion in state bids across India

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Sree Vijaykumar From the Editor's Desk Once upon a time, we hated Wall Street, for its greed and apathy! Main street suffered, while the financial markets bloated up. Can we accuse Silicon Valley of the same? After all, people do lose jobs when an industry gets disrupted by technology (think automated cars vs drivers, airbnb vs hotels, amazon vs traditional retail). Yes, things become more efficient with technology and that is supposed to lift all boats, but does it? Erik Brynjolfsson, a professor at the M.I.T. Sloan School of Management, told MIT Technology Review, "Productivity is at record levels, innovation has never been faster, and yet at the same time, we have a falling median income and we have fewer jobs. People are falling behind, because technology is advancing so fast and our skills and organizations aren't keeping up." It is, he said, "the great paradox of our era." Full article by Om Malik here Advertisers of the day The Economist: Subscribe now and get a Hidesign passport wallet free Ingram Micro Cloud: Streamline your creative process and secure your digital assets with Dropbox Business   Our advertisers help fund the daily operations of TradeBriefs. We request you to accept our promotional emails (B2B Decision-Makers, B2C Decision-Makers, TradeBriefs Premium). Modi to 'Amazonize' $400 billion in state bids across India Modi govt has much riding on the new online market, which has already traded 390 million rupees ($5.7 million) since it began in August. Advt: Work for the best employer - Yourself Advantages - Best B2B audience in India, no hard-selling or up-front costs involved, access to our content repository and air-tight agreements with instant gratification. Apply now   The Real Deal with Email and What TradeBriefs does right So, here’s the real deal with email. Yes, we all get too much email, but for those of us who check it, we do so over 15 times a day.   On first payday after demonetisation, banks run out of cash within hours and ATMs dry up As banks ran out of notes, people waited at ATMs but struck out there too as supplies to cash dispensers were down to a fifth of required levels. Are Jan Dhan accounts being misused? Unlikely The increase in bank balance in Jan Dhan accounts is not extraordinary as they are being used as much as regular bank accounts, following demonetisation Tata vs Mistry: What’s next Over the coming month, shareholders of Tata Group firms will decide whether the Cyrus Mistry stays as director in their respective companies Banks face major hurdles in PoS installation Govt task force’s proposal to install 1 million card swipe machines may require an investment of nearly Rs1,000 crore, says NPCI chief PE investments in real estate set to touch $7.2 billion in 2016 In the first nine months of 2016, private equity funds committed $4.2 billion to real estate, an increase of 20% from the same period last year Stressed bankers seek clarity from Reserve Bank of India By making banks deposit Rs 3,24,000 crore with the Reserve Bank, the cost for banks on these deposits would be Rs 18,110 crore on an annual basis as this has to be paid to the customers. Islamic banking a way to break taboo, pay dividends NEW DELHI: Tuba Noman is a doctoral scholar at Jamia Millia Islamia University. Clove Dental to invest $25-30 million in five-year for expansion Clove Dental plans to raise further capital from its existing promoters, who have already invested $25 million What does the currency ban mean for banks? They may not be in a position to significantly increase lending and their capital base may get worse Accel Partners raises $450 million India fund Accel Partners to begin deploying the latest fund in early 2017 in consumer internet, SaaS, fintech, B2B and healthcare start-ups RBL Bank launches Aadhaar-based disbursment of mirco loans The APBS system can now enable MFIs to disburse loan amounts directly in Aadhaar-enabled bank accounts through RBL Bank. Promoters raise their stake in Max Ventures to 44 Promoters of Max Ventures said they bought an additional 3.33% stake from Goldman Sachs at Rs50.5 a share, and another 0.27% stake from the open market Mumbai not the economic capital of India? Think again The Mumbai versus Delhi battle resumed this week. It was not the usual whinge about which city wields more clout or boasts of an exciting social life. This time, it was about hard... The Telecom Department Is Unsure Of Its Power To Levy Penalty On Vodafone, Idea And Airtel Why is the Department of Telecom unsure of its penalty powers?  Maximum Complaints Against Airtel, Vodafone, Reliance in Last 3 Years: Telecom Minister Manoj Sinha In the last three years and including October of the current year, the Telecom Regulatory Authority of India (Trai) has received 80,494 complaints from subscribers. Motorola Moto M is coming to India next, says company Apart from a metal body, Moto M powers on Mediatek Helio P15 CPU Global 4G smartphone shipments will see 21 per cent growth in 2016: IDC Shipments of 4G-enabled smartphones will hit 1.17 billion mark in 2016, says research firm IDC Negative outlook on telecom sector; Reliance Jio will try to gain subscribers at any expense: Nitin Soni, Fitch Ratings We have a negative outlook of the Malaysian telco sector because Telecom Malaysia which has so far been a fixed line operator is now entering into wireless space, said Nitin Soni. Yoga Gurus: The leaders behind India's hottest consumer products Ramdev, Ravi Shankar, Gurmeet Ram Rahim and Jaggi Vasudev are among leaders lending their names to everything from honey, herbal remedies to toothpaste. Thirst for aerated drinks fizzles out as discretionary spends dry up PepsiCo India Holdings posted a 15% decline in revenue during the year to March at Rs 6,526 crore, mainly due to a steep fall in aerated and non-aerat.. 'Multiplex, airport shops must follow normal MRP' There cannot be two maximum retail prices for the same packaged item within a state, the consumer affairs department has said in its advisory to state governments. This means all packaged items, including beverages, cannot be sold at two different MRPs in shops, multiplexes or airports. Patanjali to set up Rs 1,666 crore food herbal park in Noida Terming UP as a big market, Akhilesh said if anyone wanted to invest in vegetables and milk production, they would get big market in the state itself which they would not get in the entire country. Nestle launches anthem for Educate The Girl Child campaign Nestle launches anthem for Educate The Girl Child campaign Flipkart's mandate: the 'need to keep investing' until the dust settles While the latest cut infuses a dose of realism, any future ecommerce scenario in India can't ignore Flipkart, industry experts say Consumer Courts in India are in mess: SC A non-judicial member sitting to decide a case ina consumer court is not able to .. E-tailers turn into brands, but can they survive? Of late, many e-commerce players have started discarding aggregation of brands on their platform in favour of becoming private label businesses, with an aim to earn higher margins, bolster their bottom lines and gain easy access to foreign funding. Where online lingerie retailer Zivame completely turned into a single-brand, furniture e-tailer Urban Ladder filed an Labour abuses at palm plantations supplying companies like Unilever, Nestle: Amnesty Amnesty, which said it interviewed 120 workers, alleges that many of them worked long hours for low pay and without adequate safety equipment. Microsoft, Oracle set to hand IIT students their first crore-plus salary offers The two US tech cos are putting forward such international salary packages in at least four campuses — Mumbai, Kharagpur, Guwahati and Roorkee. Flipkart backer Accel raises $450 mn for its fifth fund New fund will start making investments from 2017 and is 40% larger than the fourth fund raised by Accel in March 2015 Demonetisation: Before Narendra Modi removed the oxygen of cash, Indian economy was racing Economists agree the economy will take a hit this quarter and for several quarters to follow. But opinions on the scale of damage vary widely. Delhi tops the list in used-smartphone sales followed by Bengaluru and Mumbai Delhiites are ranked number one when it comes to upgrading smartphones as 19 per cent of online requests generated on ecommerce app Cashify to sell used smartphones came from Delhi, a report said on Tuesday. With little cash in hand post-demonetisation, India cuts down on groceries and toiletries In the last 20 days, households across India have had to take some tough decisions. They have bought fewer bars of soap and packets of biscuits, and have wavered between choosing butter and cheese. All this because the Narendra Modi government's Nov. 08 decision to ban old Rs500 and Rs1,000 notes has led to a... How TCS, Infosys, Wipro are battling it out for mega Citigroup outsourcing deal? TCS faces tough competition from rivals Infosys and Wipro in re-bid for Citibank’s outsourcing contract that was worth $2.5 billion in 2008 Apple jumps ahead of Micromax to become second largest smartphone maker Apple India sales grew 54% to Rs 9,997.1cr during FY16 compared to Rs 6,472.89cr a year ago, while net profit rose 21% to Rs 294cr as the company widened its retail network into smaller cities and lowered prices. Japanese tech major Horiba opens Rs 100-crore centre in Chakan Horiba has invested Rs 100 crore in the centre, which is the ninth base for the diversified Japanese technology company. Gooligan, new Android malware variant breaches One million Google accounts The new malware campaign named 'Gooligan' roots Android devices and steals email addresses and authentication tokens stored on them. Wipro sells EcoEnergy unit to UTC arm for $70 mn The $56 billion UTC has businesses across segments like aerospace, energy, elevators, fire and security, apart from being a major supplier of military equipment. Digital technology is the key to marketing, says ADMA report Digital channels, smart mobility and new marketing and advertising technologies are redefining what is expected of marketing leaders in today's changing world, a new report has said. GE opens its largest global Digital Hub in India : Will create additional 1000 tech positions Currently employing 1,500 highly skilled IT and software professionals, GE Digital's Hub in India will create an additional 1,000 technology positions, GE said. China, Japan offer biz upside for IT firms, says Kris Gopalakrishnan These firms also need to look at delivering lot more services remotely from offshore locations to reduce the requirement for onsite services, and also engage in more product-related services, he said. 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