Hiring in India Picks Up 35 percent from April to June: LinkedIn

LinkedIn, the world’s largest online professional network, today announced findings of the ‘Labour Market Update’, a monthly update on hiring trends and insights based on LinkedIn's Economic Graph, a digital representation of the Indian economy.

While the world continues to navigate different stages of the coronavirus, LinkedIn’s Economic Graph team has been closely monitoring the pandemic's disruptive impact across the global labour market. These findings are crystallized into the LinkedIn ‘Labour Market Update’, which highlights the hiring rate in India, overall hiring sentiment across industries, competition for securing jobs, and the top jobs and skills in demand. Findings show that there has been a significant hiring rebound as the country started 'unlocking' and more people returned to work. However, the pace of these gains are expected to slow down given the continued economic uncertainty.

1.    Between early-April to end-June, hiring increased by 35 percentage points: In India, hiring declines reached a low of below -50% year-on-year in April, before starting to slowly recover.  The hiring sentiment stands at -15% year-on-year as of the end of June. As risks of second-wave of infections emerge, some states have imposed lockdown measures again. Given this uncertainty, the recovery is expected to remain fairly flat in the coming weeks. 

*The analysis looks at the year-on-year changes in hiring rate, which is a measure of hires divided by LinkedIn membership. The analysis was conducted for the period of 11th Feb to 30th June 2020. 

Data also suggests that the gap between hires for males and females has narrowed from about 40 percentage points in February to around 30 percentage points in June.

This trend is observed across all sectors except for Manufacturing, Finance and Software & IT.

2.  Competition for jobs is heating up: Competition for jobs has doubled compared to 6 months ago, with the average number of applications per job posted on LinkedIn increasing from around 90 in Jan 2020, to 180 in June 2020.

3.  Recreation & Travel and Retail professionals are more likely to look for jobs in a different sector, compared to pre-COVID period: Compared to the pre-COVID period, data suggests that job seekers who are currently in the affected sectors (such as Recreation & Travel) are 6.8 times* more likely to look for jobs in a different sector, compared to pre-COVID times. Data further suggests that those in the retail sector are 2.4 times* likely to apply for a job in a different sector. The analysis looks at how job seekers in different industries are adapting to changes and adjusting their jobs search strategy. 

*The measure here calculates the likelihood that a member in a certain sector has applied for a job in a sector different to their own in June 2020 (post-COVID) compared to June 2019 (pre-COVID). A score of 2 here would suggest that a member in Industry A is twice as likely to apply to a job in an industry outside of Industry A. 

4.  The demand for disruptive skills tops the charts in June 2020: The Labour Market Update also highlights roles that are in demand today and are expected to remain relevant in the near future. These roles have the greatest number of job openings on LinkedIn, have seen steady growth over the past four years, pay a liveable wage, and require skills that can be learned online.

These are the top 5 in-demand jobs and skills:

1.    Jobs: 

·         Software Engineer

·         Business Development Manager 

·         Sales Manager 

·         Business Analyst

·         Content Writer

2.     Skills:

·         JavaScript

·         SQL 

·         Sales Management 

·         Team Leadership 

·         Recruiting

ABB Unveils eMart, its B2B & B2C Online Marketplace in India

 ABB India, today announced the launch of eMart, an online marketplace portal, which will offer more than 6,000 products from its Electrification Business for home and industrial buyers.

This unique B2B & B2C platform will be the first of its kind in the industry, owing to its dynamic, price-transparent model. It aims to provide an equally fair and favorable experience to both ABB distributors and customers, further boosting the agenda of the country’s Digital India program.

ABB eMart also provides a dynamic model to empower partners to set their own competitive pricing for the products they sell on the platform, while simultaneously providing customers with a choice of the best deals to suit their specific needs.

Customers will be able to access technical specifications as well as interactive product images for each item at their fingertips. They can select their best-suited option by referring to the product and seller reviews on the portal. ABB has partnered with authorized distributors with a digital presence from across the country, and is enabling them to expand their reach by offering products and solutions on eMart for home as well as industrial customers.

eMart hosts a wide range of products, which ranges from digital circut breakers, contactors, Molded Case Circuit Breaker (MCCB), modular swtiches, Miniature Circuit Breaker (MCB), Residual Current Circuit Breaker (RCCB), home automation, medium voltage relays and related products. With this move, ABB India aims to further expand its reach in untapped markets while strengthing its presence in the existing sector, maximizing the changing customer buying preferences with a seamless digital experience.

“At ABB, we are committed to creating avenues that fast track the digital transformation journey for our customers and partners. The eMart is another achievement in the same direction, aiming to to create a reliable yet distinct customer experience with digital solutions. It aims to build a digital ecosystem and infrastructure between the manufacturer, the partners, and the customers and provide impetus to the business climate and the Digital India program,“ said CP Vyas, President, Electrification business, ABB India. “This platform will be another stream for business enhancement for our partner and distributors and provide the next level of customer experience,“ he added.

As the world adapts to the new normal, ABB recognizes that online buying experiences and a one-stop access to immediate product requirements are increasingly the need of the hour. Designed for a user-friendly experience, eMart has been optimized with easy navigation for desktop and mobile browsers, and curated results for each type of buyer. The platform allows for order queries to be addressed online and is supported by secure payment methods including net banking, eWallets, and UPI, also abiding by General Data Protection Regulation (GDPR) in terms of customer data.

ABB (ABBN: SIX Swiss Ex) is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 110,000 talented employees in over 100 countries. www.abb.com

Hyundai CRETA Sets a New Benchmark Crosses 500 000 Sales in Domestic Market

 Summary 

* HMIL Leads the UV Segment with 4 Super Performer SUVs – All New CRETA, VENUE, TUCSON and KONA Electric Registering Sale of 34, 212 Units (April~July, 2020)   

* ALL New CRETA Leading the SUV segment in July 2020 with sales of 11,549units

* All New CRETA remains Best-selling SUV for three consecutive months (May,   June and July 2020) 

* All New CRETA receives a great response with more than 65 000 bookings since it’s  launch in March, 2020

Hyundai Motor India Ltd. (HMIL), country’s First Smart Mobility Solutions provider and the largest exporter since inception announced an impressive feat for Hyundai CRETA achieving the 500 000 domestic sale milestone.

Commenting on the achievement, Mr Tarun Garg, Director (Sales, Marketing & Service), Hyundai Motor India Ltd. said, “Hyundai CRETA has been the blockbuster model in the Indian Automobile industry ever since its launch in 2015. Redefining the SUV landscape in India, CRETA’s supremacy transpires from Hyundai’s technological prowess and innovation, outperforming the industry benchmarks in all aspects. With the  500 000 sales mark, the CRETA has set yet another benchmark in the industry, reaffirming a legacy of leadership in the SUV segment. At Hyundai Motor India, we are continuously strengthening our portfolio with the best-in-segment features and technologically advanced products to make our customers’ life a happy life.”

He further added, “HMIL has also contributed strongly in the UV Segment with 4 Super Performer SUVs – All New CRETA, VENUE, TUCSON and KONA Electric registering sale of 34 212 Units (April ~July, 2020) showcasing customer acceptance of SUVs in the Hyundai portfolio leading to higher brand affinity.”   

The All New CRETA has been the Best-selling  SUV for three consecutive months of May, June and July, 2020. Further, the all new CRETA has received over 65 000 bookings since launch in March 2020. The contribution of Diesel in the All New CRETA bookings continues to soar and is now at 60% indicating a strong demand for Hyundai’s advanced and globally proven Diesel BS6 Technology. 

Additionally, The Made-in-India, All new CRETA, has created waves across 88 countries and cemented its position in the global market as well.

Hyundai CRETA continues to be on top of experts’ mindshare and has championed India’s Most Respectable Awards and accolades to its credit.

All new CRETA is powered by new BS6 engines - 1.5 L MPi Petrol (6MT/ IVT), 1.5 L U2 CRDi Diesel (6MT/ 6AT) and Powerful 1.4 L Kappa Turbo GDi Petrol (7DCT). To enhance the Driving Experience, All New CRETA comes with 3 Drive modes (Eco, Comfort & Sport) and Traction Control Modes (Snow, Sand & Mud) that optimise the driving comfort across different terrains.

Godrej & Boyce Sees Growth in Precision Engineered Equipment as “Make in India” Policy Gathers Momentum

Make in India

* Delivers critical equipment to help India’s biggest indigenously developed nuclear power project achieve key operational milestone

Godrej & Boyce, the flagship company of the Godrej group said that there is likely to be rapid increase in the demand for precision equipment and larger opportunities for growth in bespoke engineering systems and equipment offerings as the country’s “Make in India” mission gathers greater momentum.

A strategic partner of Nuclear Power Corporation of India (NPCIL) for over 20 years, Godrej Precision Engineering was integrally involved in supplying mission critical equipment to NPCIL for the Kakrapar Atomic Power Plant-3 - the first indigenously built 700 MWe Pressurized Heavy Water Reactors (PHWR) in India that achieved criticality recently.

Godrej Precision Engineering delivered the Fueling Machine Bridge & Carriage for Kakrapar Atomic Power Plant-3 which are installed in the critical zone of the Nuclear Power reactor.

With approval of 10 new 700 MW nuclear power projects, competent and committed partners with necessary experience in design, engineering & manufacturing, backed by significant scientific knowledge and technical prowess, will be one of the key drivers of the government’s ‘Atma-Nirbhar’ initiative. 

“At Godrej & Boyce, we have been investing for over 50 years in building strong engineering and machine-building capabilities and partnering with Indian institutions to deliver complex equipment for key strategic industries like Nuclear Power and Defence”, said Mr Jamshyd N Godrej, Chairman and Managing Director of Godrej & Boyce.

“Our strong experience of mission-critical systems and an integrated framework for design, manufacturing and testing will help accelerate India’s journey towards industrial self-reliance”, Mr. Godrej added.

“Our ability to innovate and execute has helped us partner with our customers and the equipment has been ‘made in India’ for the first time”, said Kaustubh Shukla, Chief Operating Officer, Industrial Products Group, Godrej & Boyce.

Godrej Precision Engineering manufactures custom-built equipment for complex and sophisticated systems for several mission-critical applications in nuclear power, land based and naval systems for Defence and for other industries like Steel, and Wind Energy. Besides equipment for Nuclear Power, the business unit executes orders for defence land systems like Brahmos Missile Launchers, Missile carriers and Naval systems like Diving and Surfacing Systems, Hull Equipment, Life Raft Container Ejection Systems, Steering Gear and so forth.

Each high precision, custom-built equipment is developed, manufactured and tested according to stringent quality requirements of our customers.

About Godrej & Boyce Mfg. Co. Ltd.

Godrej & Boyce (‘G&B’), a Godrej Group company, was founded in 1897, and has contributed to India’s journey of self-reliance through manufacturing. G&B patented the world’s first springless lock and  since then, has diversified into 14 businesses across various sectors from Security, Furniture, Aerospace to Infrastructure and Defence. Godrej is one of India’s most trusted brands serving over 1.1bn customers worldwide daily.

Notify Me for Huawei Freebuds 3i Goes Live on Amazon Market

Amazon Market 

* “Notify Me” for the best in class Freebuds 3i goes live on Amazon today, interested customers can get notified about the availibity of the product 

* The HUAWEI FreeBuds 3i TWS is a benchmark product of the TWS Industry, offering Active Noise cancellation with crystal clear voice quality and high fidelity music clarity. 

* HUAWEI FreeBuds 3i will be available in two classic colours: Carbon Black and Ceramic White and are  priced at INR 9990 with an exclusive introductory Prime Day offer– a free HUAWEI Band 4 worth Rs 3099

The new earphones provide an ultimate noise cancellation experience thanks to the Triple mic call noise reduction

Huawei Consumer Business Group, India today announces ‘Notify Me’ for its much awaited HUAWEI FreeBuds 3i TWS earbuds with Active Noise Cancellation (ANC) and a unique in-ear design that comes with a Triple Mic Setup for best in class ‘Active Noise Cancellation’. The TWS earbuds come with premium design elements and offer crystal clear and rich sound quality.

Interested customers can visit the Amazon India Offcial Website and register themselves on ‘Notify Me’ or visit the Official Website for more information about the Huawei Freebuds 3i, which will be available for the price of Rs 9,990. The announcement of the launch also comes with an exclusive and exciting offer for customers – a Band 4 worth Rs 3099 that will come at no additional charge with the much-awaited Huawei Freebuds 3i; this offer will be available from 6th to 7th  August 2020 for Prime Member on Amazon, and it will be open till 12th August 2020 to all other customers.

Speaking at the occasion, Huawei India spokesperson, said, "Huawei as a brand  constantly aspires to be a leader in the technology innovation space. The Huawei FreeBuds 3i  offer one of the best ANC experiences in the industry today-giving users an immersive acoustic experience. The three-mic system is the best in enhanced listening and call quality regardless of outside noise and comes with an Aware Mode and offers the  user customised controls which makes it a unique device.”

“The design is inspired from the fast-paced lifestyles of  millennials , the earbuds snugly fit in the ears for long hours with ease, making it perfect for sportsmen and fitness enthusiasts, working professionals and music lovers. The FreeBuds 3i delivers impressive sound quality blocking unwanted noise and has a long battery life with the ANC on.”, added Huawei India spokesperson.

Ultimate Active Noise Cancellation

Whether listening to music, holding calls or experiencing thrilling movie audio effects, users can enjoy uninterrupted moments with the ultimate noise-cancelling experience. HUAWEI FreeBuds 3i comes with Triple-Mic call noise reduction, which has two outward-facing mics and one inward-facing mic. While the outward-facing mic detects ambient noise to actively counter with anti-noise, the inward-facing mic picks up the other noises in the ears for further cancellation, actively lowering background noise by up to 32dB*. The three mics offer thorough noise cancellation for improved call quality, bringing an immersive listening experience.

Convenient pairing, Powerful bass technology:

The Huawei Freebuds 3i comes fitted with a polymer composite diaphragm that offers professional tuning to deliver balanced audio. With its 10 mm large dynamic drivers it delivers powerful bass, giving audiences a ‘True Noise Cancellation, True Wireless Stereo’ listening experience. The pairing is simple and easy with the Pop to Pair, Ready to Start feature when the charging case is open, making it convenient for users. With its IPX4 water-resistant technology, the user can easily use this in rainy weather. The Freebuds 3i also gives a playback of upto 3.5 hours.

Premium design features, Lightweight:

The earbuds design gives it a premium look, with dimensions which are a perfect fit for the ears, it comes with 4 silicone tips in different sizes for comfort and a secure fit. Offering better sound quality because of its shape. The weight of each earbud is about 5.5g and the charging case is about 51g, making it light and easy to carry at one's convenience.

Three Tap technology, Powerful ANC:

The audio device boasts of a plethora of class-leading features including simple and stable connectivity, three tap technology which is an excellent user-friendly feature that has a double feature to play and pause music, and answer and end calls; and with its long tap technology feature to activate ANC.

Huawei’s FreeBuds 3i's latest technology advancements set it apart in design, sound quality, ANC capabilities, and easy to carry. With its wearing detection technology, the FreeBuds 3i syncs with the users every move.

Pricing and Availability

HUAWEI FreeBuds 3i will be available in two classic colours: Carbon Black and Ceramic White and is  priced at INR 9990

The product will come with an exclusive and exciting offer for customers – a HUAWEI Band 4 worth Rs 3099 for absolutely no extra charge; This offer will be available from 6th to 7th  August 2020 for Prime Member on Amazon, and it will be open till 12th August 2020 for all customers.

About Huawei Consumer BG

Huawei’s products and services are available in more than 170 countries and are used by a third of the world’s population. Fifteen R&D centers have been set up in the United States, Germany, Sweden, Russia, India and China. Huawei Consumer BG is one of Huawei’s three business units and covers smartphones, PC and tablets, wearables and cloud services, etc. Huawei’s global network is built on almost 30 years of expertise in the telecom industry and is dedicated to delivering the latest technological advances to consumers around the world.

Aegon Life Updates its Life Insurance with Covid 19 Cover in India

Owing to the COVID – 19 spread across the country, self-protection is now of prime importance. In light of this situation, Aegon Life, the pioneer of digital insurance in India now provides an upgraded ‘Life Insurance with COVID-19 Cover’ policy that provides a life cover up to Rs. 50 Lakh and hospitalization cover up to Rs. 5 Lakh on a positive diagnosis of the condition. The launch of this product is in collaboration with Flipkart, India’s homegrown e-commerce marketplace, aimed to provide maximum benefit to the insured in case of a positive diagnosis.

The cost of hospitalization for COVID-19 has increased significantly in recent months which adds to the financial stress in addition to the emotional stress already faced by the family. Aegon Life’s ‘Life Insurance with COVID-19 Cover’ policy requires no medical test for purchase. The policy can be bought hassle-free on the Flipkart App from the comfort and safety of one’s home. For a confirmed COVID-19 diagnosis, the insured gets a guaranteed lump-sum payout on hospitalization for more than 24 hours. 

Shedding more light on the ‘Life Insurance with COVID-19 Cover’ policy, Mr. Satishwar Balakrishnan, CFO, and Principal Officer, Aegon Life said, “At Aegon Life, we are focused on the “direct to customer” model and therefore we can keep pace with our customer requirements, which, is our topmost priority. We introduced an innovation in the industry by launching the industry’s first life + hospitalization cover for COVID-19 earlier this May with Flipkart. However, we acknowledged the market scenario and the customer demands and felt the need to increase the cover to serve our customers better. The new updated ‘Life Insurance with COVID-19 Cover’ policy will further help to ease the financial burden on the policyholder if he/she tested positive for COVID-19 by now offering cover up to Rs.5 Lakh on hospitalization”.

A detailed structure of this policy is available on the Flipkart App. Customers can choose from a range of premium price points to best suit their needs.

About Aegon Life Insurance Company:

AEGON Life, one of the leading digital insurance companies in India, is a new-age digital service company and is amongst the first companies to launch Online Term Plan in India. Being the online protection specialists, AEGON Life has a company-employed service team that is fully geared to provide customers the highest levels of service.

With a vision to be the most recommended new age Life Insurance Company, the company’s Direct to Customer focus establishes a direct dialogue with the customers to make for greater clarity and transparency.

How women are Making it Big in Business Via WhatsApp-Based Social Commerce?

By Varun Khurana, Founder, Otipy ( India’s fastest growing social commerce venture)

 

Social commerce is not a new concept in the country major chunk of social commerce existed only in the fashion, beauty, and retail industries. Today, social commerce is gaining popularity for one of the fundamental aspects of life – fresh food. Fresh produce such as fruits and vegetables have become the most in-demand products as people switch to healthier ways of living and are eager to know the source.  

 

A USD 200 Billion fresh produce category is now witnessing major disruption through social commerce. It is garnering the attention of consumer, entrepreneurs, and investors, . In fact, consumers are increasingly preferring their food sourced through social commerce for various reasons such as higher credibility, rational price and most importantly, fresher produce (delivered within a day straight from the farms sometime within 12 hrs). For women looking to be a part of the business environment without monetary investment, social commerce within the food category is the ideal solution. Let us take a look at how social commerce is playing a key role in helping women make it big in business.

 

The rise of social commerce

Increasing internet penetration and social media usage have paved the way for the rise of social commerce. A majority of the population today uses and is in fact hooked onto social media and brands are leveraging this aspect. With the rise in demand for fresh produce, women are joining hands with brands to become resellers within their community to make a mark for themselves in their community by leveraging social commerce. Currently, fresh produce is a supply-led model and social commerce is flipping it to demand-led model that further helps in solving the problem of middlemen and wastage (since there is no inventory). Apart from this, it helps resellers connect with their customers-base efficiently and offer real-time feedback to the farmers regarding the quality of the produce.

 

The emergence of women as dominant sellers

 For the first time, women are taking the center stage in spurring the adoption of e-commerce and helping the industry as well as themselves progress. The advent of technology, rapid digitization of businesses, and easy access have helped drive this change. For women sellers, a slew of features aided by cutting-edge technology such as voice chats/chatbots, real-time updates and feedback to the farmers, and most importantly, WhatsApp-based marketing is coming handy to open more doors to become micro-entrepreneurs.         

Additionally, women sellers also have a higher average order value, better retention and repeat orders, making them more suitable. In fact, not just urban cities, but women resellers hail from tier-II and tier-III catchment areas are hopping on the fresh produce social commerce bandwagon to fulfil their goals and achieve financial independence with almost no investment. A whopping 68% of women in most platforms sell from tier-II and tier-III cities.

 

Women sellers also help customers gain the trust factor for unbranded products since they usually tend to lean towards known/established brands. In return, social commerce platforms offer easy access for women to build an entrepreneurial empire of their own through community engagement without hindrances. Particularly in vernacular language-led social commerce platforms, women are dominating the space, even though the concept is still at a very nascent stage. They are learning the tricks of the trade and are keen on flourishing in the competitive business environment.

 

Social commerce is quickly becoming a multi-million-dollar market in India. However, the country has a largely unorganized market, particularly in tier-II, tier-III and tier-IV cities, especially for the fresh produce category with millions of farmers scattered across the country. Additionally, shopping for fresh produce is a social concept of sorts. Since the pandemic has forced us to adhere to social distancing norms, social commerce is flourishing and women are leading the way. With technological advancements, greater digitization and the availability of regional languages providing easy access and seamless experience, the rise of women entrepreneurs through social commerce is inevitable.  

Office Leasing in Bengaluru Drops by 42% YoY; New Supply Declines by 48% YoY in H1 2020: Knight Frank India

Highlights

* Rent growth tapers to single digit, weighted average rents see 6% YoY growth in H1 2020

* Worst half-year in this decade, home sales in Bengaluru decline by 57% YoY in H1 2020; launches fall 48%: Knight Frank India

* Price environment weakens, home prices in Bengaluru see marginal 3.3% YoY increase to Rs 4,980 per sqft

Knight Frank India today launched the 13th edition of its flagship half-yearly report - India Real Estate: H1 2020 - which presents a comprehensive analysis of the office and residential market performance across eight major cities for the January-June 2020 (H1 2020) period. The report showed that the office transactions in Bengaluru saw a 42% YoY decline to 0.44 mnsq m (4.8 mnsq ft) in in H1 2020. The new office supply in the city also saw a decline of 48% YoY to 0.37 mnsq m (4.0 mnsq ft) due to the adverse impact of COVID-19. The city has experienced a tapered rent growth with H1 2020 recording 6% YoY growth in weighted average rent.

In Bengalururesidential market, which had prominence in the country’s residential landscape, the home sales have witnessed a decline of 57% YoY to 12,177 units in H1 2020. Whereas, the home launches in Bengaluru saw a 48% YoY decline to 10,806 units. With a weaker pricing environment in the wake of pandemic and consequent disturbance on home buyer sentiments, the city recorded a  marginal 3.3% Y-o-Y increase in weighted average price.

OFFICE MARKET HIGHLIGHTS OF BENGALURU

* Bengaluru has been at the pinnacle of office demand in the country for each year during last decade. The city’s office market has grown each successive year since 2013 and with 1.42 mnsq m (15.3 mnsq ft) the city recorded its highest ever tally of office transactions, cited as an achievement milestone for any market in the country.

* Covid-19 induced tumultuous business environment has seen an influence on the transaction volumes in the market. Bengaluru saw office transactions decline by 42% YoY in H1 2020 to 0.44 mnsq m (4.8 mnsq ft),  The average deal size was reported at 5,130 sq m (55,214 sq ft), with number of deals at 86 in the analysis period of H1 2020.

* In terms of sector-wise share of transactions, IT/ITeSwas on top of the table with 30%, followed by Co-working (23%), Manufacturing (19%), BFSI (13%). A combination of other services industries contributed 14% to the overall share. Manufacturing and BFSI significantly improved their space take up. Information Technology sector, the most prominent occupier group of Bengaluru, has reduced its space take-up by 64% YoY in H1 2020.

* The vacancy level in Bengaluru office market has jumped to6.5% in H1 2020 from a much comfortable 4.1% level in H1 2019.

* Rent growth has been strong in Bengaluru for the last 5 years and the similar trend was observed in the beginning of 2020, until March 2020. Since April, rents have stagnated with occupiers also seen reaching out to landlords for partial rent or maintenance cost waiver for the lockdown period. In this background, H1 2020 recorded a rental growth of 6% YoY. Bengaluru’s PBD East market saw the highest rental growth of 9% YoY in 12- moth change, followed by SBD (8%) and ORR (6%).

Shantanu Mazumder, Senior Branch Director, Bangalore, Knight Frank India said, “Bengaluru office market was on a very strong footing with a robust momentum in demand, supply and rent until the first quarter of 2020. However, as businesses faced disruptions in the wake of the pandemic in second quarter of 2020, Bengaluru office market also felt the pain. Information Technology sector, the most prominent occupier group of the city, saw demand decline by 64% YoY in first half this year. Ongoing deals faced delays and new office enquiries were put on temporary hold. While we do recognise the potential of Bengaluru office market, recovery will depend on the trajectory of the pandemic itself.”

RESIDENTIAL MARKET HIGHLIGHTS OF BENGALURU

* Bengaluru residential market recorded a home sales decline of 57% YoY in H1 2020.While all micro-markets were adversely affected, notable decline was seen in North and West where sales declined by an even greater magnitude of 70% YoY and 66% YoY, respectively.

* The affordable housing segment, classified as house value up to INR 5 million, witnessed its share further shrink to 32% in H1 2020 compared to 38% in H1 2019.

The state government reduced the stamp duty rates from 5% to 2% for houses costing up to INR 2 million and from 5% to 3% for houses costing between INR 2.1 – 3.5 million. This was limited to first time registration of new apartment valued up to INR 3.5 million. 81% of sales in H1 2020 occurred in the segment of INR 2.5 - 10 million with 51% in INR 5 - 10 million segment. In this situation, we believe a broadersegment for stamp duty reduction would have helped the sector.

* In terms of launches, H1 2020 saw 48% YoY decline compared to 20,894 units in H1 2019. While all micro-markets witnessed a sharp fall in launches, West and North were the most hit markets with a decline of 78% and 69% respectively.

* In H1 2020, the pricing environment was strong until February 2020. However, prices have stagnated since the COVID-19 struck in March 2020. Overall, the city saw prices higher by 3.3% YoYin H1 2020. Whitefield and Hennur recorded a 5% price increase for 12-month period, till June 2020.  

* With restrained launches compared to housing sales over the past year, unsold inventory level has come down by 10% to 77,043 units in H1 2020.

Shantanu Mazumder, Senior Branch Director, Bangalore, Knight Frank India said,“Despite being affected during H1 2020, Bengaluruemerged as one of the quickermarkets to come out of the state-imposed lockdown to contain the spread of coronavirus. During this period, although at a much lower level compared to pre-lockdown, May and June 2020 saw the resumption of project sites and customer visits. With pandemic induced market disruptions, the pricing environment has become weak now. However, instead of a headline price reduction, customers are being offered a variety of indirect price benefit schemes. Price protection and free cancellation schemes are also offered to assuage homebuyer concerns on job security and pay cut.

While the inherent strength of Bengaluru housing market is intact, COVID-19 induced threat to lives and livelihoods and recurrence of lockdown will have an overbearing impact on market and going forward, the intensity of pandemic will define the recovery trajectory.”

AgriBazaar Hosts Global Webinar on Landmark Reforms in Indian Agriculture to Discuss Watershed Changes

AgriBazaar, India’s largest Online Agri-Trading Marketplace, held a global webinar titled ‘Landmark Reforms in Indian Agriculture’. The government of India recently promulgated two ordinances: augmenting ease of trade by giving farmers a new and simpler alternative to sell their produce and building a farm-gate infrastructure to ensure that farmers get the desired price for every unit sold. The combination of these two ordinances is envisaged to bring large-scale benefits to the Indian farmer community by addressing their long-standing issues and therefore significantly boost the country’s agriculture.

The webinar was hosted to highlight these watershed reforms and how they can bring a positive change to Indian agriculture. A wide array of opportunities was identified during the webinar such as crop advisory, crop marketing, smart irrigation, leasing of equipment, and new avenues of financing, among others. New ideas and innovations such as digital agri stack, gene editing, plant-based meat, etc, were also discussed. The webinar highlighted the evolution of Indian farmers who are quickly learning the new agri-tech tools by attending various workshops hosted by agri-tech companies during the lockdown.

Speaking on the webinar Regarding level playing field for private e-marketplaces Mr. Sanjay Agarwal, IAS, Secretary (Agriculture) said, “they will be treated at par with the State-sponsored eNAM (National Agriculture Market). “eNAM is a platform that works in mandis. The trade ordinances that the government came out with do not touch mandis. No special place is kept for eNAM in the ordinance. Both the government and private platforms will have equal footing,” he said.

There is no registration or regulation required, except for the fact that they have to declare their fair trade modalities, payment modalities and logistic modalities. And they have to follow these modalities. The government has kept a provision for framing norms for this ecosystem at a later point, if required to use, he added.

Amith Agarwal, Co-Founder & CEO, AgriBazaar said, “It gives me immense pleasure to host this webinar. I saw some of the most brilliant ideas and innovations discussed by the domain leaders and top government officials during the event. The recent reforms undertaken by the Indian Government in the Agri-sector will spur the much-needed investment in the sector and unleash agritech opportunities.”

With a focus on government’s ‘One India, One Agriculture Market’ reforms, the webinar saw participation from senior leaders from the government, industry thought leaders from the private sector, investors and senior industry professionals from the Food and Agriculture Industry across the globe (mainly from Europe, the US, and Asia). Mr Sanjay Agarwal, IAS, Secretary (Agriculture), Dr Rajeev Ranjan, IAS, Secretary (Fisheries), Mr Atul Chaturvedi, IAS, Secretary (Animal Husbandry), and Ms Pushpa Subrahmanyam, IAS, Secretary (Food Processing Industries), Government of India attended the event. The private sector and global investors were represented by Mr Anuj Maheshwari, Managing Director, Agribusiness, Temasek International, Mr Srini Nagarajan, Managing Director and Head of Asia, CDC Group, Mr S. Sivakumar, Group Head – Agri & IT Businesses, ITC Limited, and Mr Balram Yadav, Managing Director, Godrej Agrovet.

About AgriBazaar

AgriBazaar is an online marketplace that is an intelligent and intuitive system delivering future-ready solutions to the Indian agrarian sector. The Indian agri-business is fragmented, and AgriBazaar with its cutting-edge technology and tools is acting as a tech enabler. With capabilities of warehousing, collateral financing and value-added services, AgriBazaar spans across geographies and enhances the efficiencies of the entire ecosystem.

radeIndia Launches Updated Version of App in 6 Vernacular Languages to Align with PM's Vision of Go vocal with Local

To ensure the comprehensive business solutions to the country’s business community, TradeIndia, India’s largest online B2B marketplace has launched an updated version of its mobile app. The new app has implemented AI to give category and product recommendations as per the users’ search and browsing history.

With the Prime Minister Narendra Modi declaring the war cry ‘Vocal for Local’ in a bid to revive the economy, TradeIndiais strengthening the agenda by providing a reliable platform to local buyers and sellers for identifying trustworthy business partners. The new app in 6 vernacular languages; Hindi, Punjabi, Gujarati, Telugu, Marathi and Oriya will be an ideal forum for businesses from across India, as they can vocalise and interact with each other to operate smoothly, securely and effectively. The app also comes equipped with additional features including the chat option that allows the buyer to connect with the seller directly with each listing.

Speaking on the app launch, Spokesperson of TradeIndia said, “SMEs have remained a critical part of India’s growth engine and their role will be extremely crucial in the post-COVID-world. The new version of our app in multiple vernacular languages will allow more such small players from across the countryto ramp up their productivity levels, add agility and even enter new markets.By tapping the maximum potential of digital solutions, they will be able to take their businesses to new heights with increasing revenues and profits.”

A one-stop platform for global buyers and suppliers, TradeIndia currently has over 5.5 Million registered usersand over 6 lakhs app downloads.Riding high on its 20 years of experience in B2B industry, the marketplace provides 360° digital solutions for all end-to-end business-related needs of its customers. The main products and services offered by the portal include online Catalog, Domain, Email, SSL, Buy Leads, Payment Solution, Google Ad words, Social Media Ads, Credit Reports and Business Loan Solution for SMEs. The newly launched Beta app will further enableSME owners and individuals from vernacular regions to successfully grow their businesses online.

Nokia likley to enter Netbook market

Nokia, the world's largest maker of cell phones, could be preparing to enter the crowded Netbook market.

According to the Economic Times, Nokia CEO Olli-Pekka Kallasvuo told reporters at a press event Wednesday in India, that "the PC and the mobile will continue to come closer and merge." He said Nokia sees a lot of opportunity in this convergence and he added that the company is "looking at the Netbook market to see what kind of opportunity is there."

It shouldn't come as a big surprise that Nokia might push further into the computing space. The company has been marketing its new smartphone, the N97, as a "mobile computer." And the company has also been selling its mobile Internet devices, or N-series Tablets.

These devices, which are geared toward early adopters and gadget lovers, typically start at around $300 to $400. They don't incorporate a traditional cell phone, but they come with a full QWERTY keypad and access to the Internet via Wi-Fi or through a Bluetooth-connected phone.

Netbooks appeal to a wider audience than mobile Internet devices, which could help Nokia diversify its business. Netbooks, which once were seen as "companion devices" for accessing cloud-based services like Gmail or social-networking sites like Facebook, are now being used as full-blown computers.

Their low cost (around $299) has driven big sales of these devices. About 16 million Netbooks were sold in North America in 2008. And because these devices often use Windows XP, a familiar operating system, most PC users already feel comfortable using them.

Nokia is likely hoping to cash in on Netbooks' popularity.

It's clear that consumers are looking to be more mobile and as carriers around the world build faster 4G wireless networks, demand for mobility will likely increase. What's more, Nokia and other handset makers will soon be facing competition from computer makers in the mobile phone market. Laptop maker Acer has already announced it is developing a smartphone. And there are reports that PC maker Dell is also working on a mobile phone.

Economic Times/Agencies

PC's from ViewSonic now in India

US-based visual display product maker ViewSonic today unveiled its first all-in-one PC for the Indian market at a price tag of Rs 32,000.

The system 'VPC100' is the first of a new line of concept products that the company plans to launch in India. The PC allows users to watch HD movies, browse Internet, play games or view documents with crisp details. It is powered by Intel's 1.6GHz Atom processor, the company said.

ViewSonic Technologies India Country Manager Gautam Ghosh said ViewSonic's PC will be available in India through the company's authorised distributor Redington India at an MRP of Rs 31,999.

The domestic market is flooded with computers with basic features to advanced functions at a price range starting from Rs 8,000 onwards.

Agencies

$13 Billion by 2013; Can Indian mobile reach this milestone?

The Compound Annual growth rate (CAGR) of the Indian mobile market is projected to grow at 12.5 percent from 2009-2013 and will exceed by $30 billion. According to Gartner, the India mobile subscriber base will cross around 771 million connections by 2013 and will grow at a CAGR of 14.3 percent in the same period from 452 million in 2009. India is also expected to become 2nd largest mobile consumer market after China.

"The Indian mobile industry has now moved out of its hyper growth mode, but it will continue to grow at double-digit rates for next three years as operators focus on rural parts of the country, growth will also be triggered by increased adoption of value-added services, which are relevant to both rural and urban markets," said Madhusudan Gupta, Senior Research Analyst, Gartner.

The mobile market incursion is projected to increase from 38.7 percent in 2009 to 63. 5 percent in the year 2013.

This growth is primarily because of the operators increasing their focus on the rural market, local consumer durable and electronic companies entering the domestic mobile handset segment, and lower handset prices, Gartner said.

Prepaid subscribers continue to be dominating the Indian mobile connection market. They accounted for more than 93 percent of all mobile connections in 2008 and are expected to grow to more than 96 percent of the connection base by 2013, surpassing 741 million connections versus 312 million in 2008.

The postpaid subscriber base will exceed 29 million subscribers by 2013; grow at 2.5 percent from 23 million in 2008.

The churn rate in India is 53.2 percent in 2009, and despite a maturing market, the ratio is expected to increase to 59.6 percent in 2013.

The overall growth of mobile services in India will be significantly contributed by revenue from data services, with a CAGR of 16.8 percent from 2009 to 2013. Prepaid subscribers are expected to adopt data services faster and more than the post-paid segment. The bulk of revenue will continue to come from voice services.

With the increased growth in data services, the percentage of revenue coming from voice will reduce from 89 percent in 2008 to 86 percent in 2013.

Gartner predicts that a significant drop in Average Revenue per User (ARPU), as the bulk of new subscribers will come from rural areas that are dominated by prepaid subscribers.

With the new operators joining the market, the voice tariffs will decline substantially in 2009. Growth will be triggered by increased adoption of value-added services, which are relevant to both rural and urban markets.

Agencies

Will Larry Ellison foray into netbook market?

Oracle Corp Chief Executive Larry Ellison is considering getting into the business of selling low-cost laptop computers, one of the fastest-growing sectors of the technology business.

Ellison said on Tuesday that he is looking at entering the market for so-called netbook computers after his software company completes its planned $7 billion purchase of computer maker Sun Microsystems Inc.

Sun also controls the Java computer language, which Ellison told programmers at a Java users' conference could be employed to run netbooks.

"I don't see why some of those devices shouldn't come from Sun," said Ellison, who runs the world's third-largest software maker. "There will be computers that are fundamentally based on Java."

That would put Oracle in competition with companies like Google Inc, Hewlett-Packard Co, Dell Inc and Acer Inc, which either make netbooks or develop software for them.

The netbook phenomenon took off in 2008 to the tune of 11.7 million units, led by companies such as Acer and Asustek Computer Inc that were quick into the market. Nearly every PC vendor offers them these days.

Analysts forecast 20 million to 30 million netbooks will be sold this year, making up an ever larger part of overall laptop sales and marking one of few tech sectors still experiencing robust revenue growth.

Ellison made the comments during his first public speech since Oracle announced plans to buy Sun.

Although netbooks are relatively new, Ellison deserves some credit for their rise.

More then a decade ago he introduced a lightweight alternative to the PC known as the Network Computer, which was built primarily to connect to the Internet. The machines, which competed with ones running on Microsoft Corp's Windows operating system, failed to take off after their launch in 1996.

Agencies

Potential market in India -- Gaming and E-Commerce

"We have seen big uptake in digital entertainment and people spend more time now playing online Games. Gaming market is growing at 20 percent," said Patrick McGovern, Founder and Chairman of IDG at annual Global review meeting of IDG ventures family of funds from across five countries - China, India, Vietnam, South Korea and U.S. IDG has already invested in 3D solid compression, a mobile gaming company and Kreeda Games India, an online gaming company.

Apart from gaming, e-marketing, healthcare, telecom, are few of the possible ventures that IDG is planning to invest in. "With the launch of 3G technology in India telecom industry will have many opportunities," said McGovern.

But can E-commerce be really a potential market in India? "We do realize that the market is not the same here as compared to U.S. but people can still shop with the debit card or shopping cards. The reluctance to use cards for online transactions is disappearing slowly. People used to think that online travelling won't work but look how successful it is in India right now," says Manik Arora, Founder and Managing Director, IDG ventures India.

IDG has already invested in nine companies in India and all these companies come from different sectors like mobile applications, security services, media electronics, online games and advertising. Aujas Networks, ConnectM Technology Solutions, Perfint Healthcare, Ozone Media and Myntra.com, are few of the nine companies which have all been successful so far and few have even managed to open offices outside India. IDG has been investing in such small companies because they believe that small companies will create much better products and opportunities. "People should have more choices in technology related products so we invested in small companies. We thought they can come up with breakthrough products and make an impact in global technology market," said McGovern

India is not only an attracting outsourcing destination but also has a large domestic market and a faster GDP growth rate than majority of the world. This is the reason why IDG feels that the technology sector in India has a great potential. "Now with the markets improving and stable political environment we feel it's a very good time to invest in India. We have already committed Rs 300 crore to our existing investments across software, telecom, mobile, security and digital consumer markets. We intend to commit our Balance Rs 300 crore over the next 24 months" says Sudhir Sethi, Founder, Chairman and Managing Director, IDG Ventures India.

SiliconIndia

What is the latest buzz on Sun, IBM deal?

Whether it is mere speculation or a fact , the combination of two IT giants -- IBM and Sun Microsystems -- will surely alter the dynamics of the IT services market.

Of recent times, everybody is racing to offer hardware-software services and own data centres. We have seen that happen with Cisco s Unified Computing Systems, HP bought EDS, now IBM is looking at Sun.

There is no official comment from the two companies, but if the deal goes through it will give IBM a bigger control of the market and make it a fitting rival for HP, Dell and Microsoft.

Together, IBM and Sun would have about 65% of the market for server computers running the Unix operating system and 42% of the total server market, measured by the dollar value of the market.

Like Sun's Java and Solaris, the operating systems have gained substantial market share over the years. Similarly, Sun could give it some extra hardware market share specifically in servers.

However, reports indicate that Sun has not been doing well ever since the global recession began last September. Reports indicate that IBM may pay at least $6.5 billion in cash for the deal, which would be a 100% premium over Tuesday's closing price for Sun.

In last year's fourth quarter, IBM led in the global server market revenue with $4.9 billion in sales, about 36% of the market. HP was No. 2 with $3.9 billion in sales ie, about 29% of the market. Dell, with $1.4 billion in sales, and Sun, with about $1.3 billion, were a distant No. 3 and No. 4.

However, Sun's Solaris servers have a strong presence in the premium market, which is seen as more profitable. That is why that valuation may be justifiable for IBM.

But Sun's recent acquisition of StorageTek for $4.1 billion was termed as a hogwash, mainly because it did not go well with Sun and ended up in cold waters.

With customers like HDFC Bank, Punjab National Bank (PNB) and Tata Teleservices, Sun's strong presence in the financial services and telecom domains has been the envy of its rivals.

But in case of a merger, issues like having a number of common customers and how to merge the two global brands will come up. As a Sun employee, said, Sun employees are concerned about the future of our products if the acquisition happens, since there is a significant overlap between our products and that of IBM s.

Sun's corporate communications office terms it as a mere speculation and refused to comment on the rumour . So did the IBM communication team, saying they have no reactions from their headquarters and cannot comment on the issue.

Meanwhile, T.R. Madan Mohan, managing partner, Browne and Mohan, said that the WSJ picked up the news from the blog of a Sun employee.

According to him, the deal may not come through, but given the market cap of Sun, which is just about $ 2 billion, and IBM is supposed to have quoted $ 6.5 to $ 6.8 billion that is a very good valuation for a company that has been dithering.

Similarly, Sun's strengths are in government, BFSI and telecom. In telecom, it has some marque clients such as NTTDocomo, Dialog, Telefunken, Vodafone, etc which run mission-critical applications.

IBM has not been able to move into these accounts globally, unlike the easy entry the company had with Bharti Airtel, Aircel, Vodafone, Idea in India. By acquiring Sun, IBM will get access to these critical markets and benefit from the Java/My SQL communities.

CXOtoday

Mobile phone sales set to slide in 2009!

An IDC report Says the impact of economic crisis on mobile phone market may not continue past 2009.

Technology research firm IDC said in a report that the global mobile phone sales are set to slide for the first time since 2001 as a result of the global economic crisis.

The report forecasts that total mobile phone volumes would be 1.9 per cent lower in 2009 than the 2008 levels, said a press release.

In 2001, the shipments had declined 2.3 per cent. Over the past several years, the mobile phone market has enjoyed double-digit annual growth due to an increased emphasis on emerging markets.

However, emerging market growth has been steadily slowing as these markets mature, the release said. IDC now expects worldwide growth to be just 7.1 per cent in 2008 before slipping into negative growth in 2009.

A number of major industry players, including component suppliers, handset makers, and operators have announced their concerns about handset volumes in 2009.

Most have indicated that they expect a year-over-year decrease due to the flagging global economy, the release added.

The report stated that it did not expect the downturn to continue past 2009, with the market in 2010 showing signs of revival as the economic recovery takes effect. "Converged mobile devices remain a much sought-after option for many consumers," noted Ramon Llamas, senior analyst, Mobile Devices Technology and Trends.

He added that users have come to realize what these devices can do beyond voice telephony, especially when it comes to running applications. In response, handset vendors have been building the product and applications portfolios to catch this wave of opportunity.

Lawson to make a dent in the Indian ERP market

Lawson Software, the Minnesota-based third largest ERP company has entered the Indian market as part of the strategy to attract regional partners to serve customers.

According to a Gartner reports, India's ERP market is pegged at $143 million and is growing at 14-15 percent on a yearly basis. With more companies emerging in the infrastructure space, Lawson has opened an office in New Delhi to expand in the region. It has also appointed Kamal Sharma as its regional head for Lawson South Asia.

Talking to CIOL, Harry Debes, president & CEO of Lawson Software said, "we were predominantly a US-based company but have gone global since and have presence in about 33 countries. We see huge opportunities in India and other BRIC countries and expect to grow at a steady pace."

The company is already serving customers in India and Sri Lanka through partnerships with Symphony Services and ETP International and plans to draw on the expertise of more local partners and provide sales and marketing support via its India office.

"Even though ERP major Lawson opens India office have had their presence in India for several years, still we are sure of gaining a sizeable market share in the coming years through our partnership," remarks Debes.

In fact, the company entered India way back in 1994 and has about 25 customers existing in India and hopes to now focus on the mid-level customers. "Walmart, the leading global retail giants is one of Lawson's big corporate customers, so not necessarily targeting only on mid-sized or big corporates but will remain focused on new companies in fashion, F&B, healthcare, public sector verticals in India," says Sharma.

But on specific verticals like the healthcare segment where in Lawson claims to have about a 60 percent market share in the USA, the company is looking for active partners in the healthcare industry mainly for back office. Likewise, it has already signed up with ITC, Reliance Retail, PTEX in the fashion and garment vertical and KPIT Cummins in the equipment service and retail segments. It also has TBA in the food & beverages (F&B), Symphony in the distribution & manufacturing and likely to enter in the other segments also shortly.

The company plans to employ four initially at its Delhi office and grow over the years. On the global front, the company is expected to grow its headcount by 15 percent in 2008.

Lawson currently has offices in China, Hong Kong, India, Indonesia, Japan, Malaysia, Philippines, Singapore, Taiwan and also in Thailand.