Tally Solutions Embeds Swachh Bharat Cess to Meet Compliance Standards

Tally Solutions, the premier Indian software product company, announced that the latest release - Tally.ERP 9 Release 5.1.3, will now be available with the new Swachh Bharat cess implemented in the product, to support Indian businesses in complying seamlessly with the new regulation. This will ensure that the implementation of the new cess is fast and smooth in all businesses that use Tally.ERP 9.

The current module will bring in the additional component to implement the Swachh Bharat Cess as announced by the Government of India recently. Tally Solutions will also introduce the return forms as and when the government notification for the same comes in.

The Government of India notified the levy of Swachh Bharat cess at the rate of 0.5% on all taxable services effective from November 15,  2015, thus revising the new rate of service tax plus Swachh Bharat cess to 14.5%.  

From 3,100 in 2014 to 11,500 by 2020 is India's Startups Ecosystem

With India becoming world’s fastest growing startup ecosystem country today, Startup India is the new buzzword by the Government of India. The numbers are telling—from 3,100 startups in 2014 to a projection of more than 11,500 by 2020… this is certainly not a passing trend. 

Venture capital investments in India reached Rs 15,600 crore (US$ 2363) till June 2015, surpassing the total Rs 14,850 crore (US$ 2250) invested in entire 2014, setting the stage for another record year as interest in local technology startups peak. 

In order to highlight the specific areas of growth opportunities and challenges being faced in and by the incubation ecosystem, Incubation India 2015, a Conference on Business Labs comprising the Investor, Incubator startups ecosystem was organized in Delhi today.

Dr. Raghunandan Rajamani, Executive Director, Indian Steps & Business Incubators Association says, “India needs several folds increase in mechanism such as incubation & acceleration that can assimilate entrepreneurs to make them globally successful.”

Incubation in India is not more than decade old but it has and can create a huge impact. Incubation in healthcare and life sciences is far too complex if we were to compare it with IT. Healthcare is a very social subject hence tightly regulated and needs a completely different and dynamic ecosystem to take the product from bench side to bed side.

As per the detailed analysis by BIORx Venture Advisors, Healthcare is a favourable incubation sector and liked by all the investors as long as it is asset light but technologically sound and patentable.  Gandhi, Founder & Executive Director, BIORx Venture Advisors Pvt. Ltd.  says that medical devices is one such sub sector which is gaining a lot of traction from all the players of the ecosystem. This is largely on the assumption that India's own domestic consumption for such products is very high hence financially lucrative and viable for the medium to long-stage investors who will benefit the country’s healthcare needs.”

Various Key decision makers, Start-ups, Incubators, VC’s& Young Entrepreneurs were the part of this first of its kind niche Conference in India to discuss the Initiatives taken to promote the concept of technology and business incubation in India, Marketing & communications strategies for early stage startups, Incubating in Healthcare sector: Opportunities and Challenges.

According to Kapil Malhotra, Founder Marketing Director, Total Solutions Group, “A part of the Total Solutions Group Have been investing in startups over the past decade ranging from telecom, FMCG, IT, skill development amongst others. We believe that India is at the perfect point to offer entrepreneurs opportunities for growth through incubation that has not been previously available. Events like Incubation India are the perfect platform for bringing entrepreneurs, incubators, funders &mentors together. We believe that many of the start ups present today will become unicorns of the future.” 

Themed ‘Creating Value 360, the Incubation India 2015 conference provided an opportunity for interactive discussions and insights on incubation trends, solutions and unique initiatives.       

According to Ashish Taneja, CO-Founder & Managing Director, Grow X Ventures,“ It’s a great initiative by Incubation India to raise awareness about role of an Incubator and Accelerator on the Initial step of Startup.”   

Karnataka Offers Two Major MRO Facilities for Global Airlines in India

The Karnataka state government is trying to attract the global aerospace companies to set up a maintenance, repair and overhaul (MRO) facility in the Aerospace Park near the international airport on the city's outskirts and also at the old HAL airport located within the city.  

Addressing the gathering at the IndiaMRO Aerospace & Defence' 2015 event being held in Bangalore, R. Kaveri Ranganathan, HAL's Bengaluru complex chief executive said, “The PSU major Hindustan Aeronautics Ltd (HAL), which has its own airport in the city's eastern suburb, with a dedicated runway, an air traffic control and an MRO facility for military aircraft and helicopters, also offered to service civilian aircraft.”

"We are ready to offer our excellent aviation facilities and domain expertise to maintain, repair and overhaul any type of passenger and cargo aircraft, including narrow and wide-bodied jets, fixed and rotary-winged choppers of domestic and international carries," adds. Kaveri Ranganathan.

"In the 1,000-acre Aerospace Park at Devanahalli, we have a special economic zone (SEZ) for setting up aerospace related facilities, including an MRO to capitalise on the growing civil aviation traffic at the adjacent international airport," said Vandita Sharma, Karnataka’s Principal Secretary, Infrastructure Development.

As the third busiest airport in the country after New Delhi and Mumbai, the Kempe Gowda international airport has about 450 passenger and cargo aircraft movements daily through the year.

"With domestic and international passenger traffic projected to touch 18 million per annum by 2020 from 15 million annum in 2015, potential for aircraft service, including MRO is immense, as the airport is a strategic hub for South Asia," remarks Sharma.

According to global audit firm KPMG, the MRO business in the Indian sub-continent is projected to grow to $2 billion by 2020 from $700 million in 2015, as the passenger aircraft fleet size is expected to be about 1,000 in 2020 from 700 currently, including 400 scheduled type.

Presently in the absence of a hi-tech MRO facility in the country for private carriers, airlines have been sending their aircraft to Sri Lanka, Singapore or Dubai/Abu Dhabi, while national carrier Air India has its dedicated service facility in Mumbai, Nagpur and Hyderabad.

The Bangalore International Airport Ltd (BIAL) consortium is soon building the second terminal and a second runway to expand the facilities in and around the airport to meet its growing needs for the next decade.

The state and central governments are partners in the consortium with 13 percent each equity stake, while the G.V.K. Reddy-led private firms, including LnT, Zurich Airport and Siemens hold the majority (74 percent) stake.

Agencies

Yes Bank & OPIC Inks $265 Million deal for SME Development

Private sector Yes Bank said said it has signed loan agreements worth $265 million with the US government's development finance arm, OPIC, and Wells Fargo to support small business development in India. 

"Yes Bank has signed an agreement with Overseas Private Investment Corporation (OPIC), the US government's development finance institution, for debt financing of $245 million to increase lending to micro, small and medium enterprises (MSMEs) in India," Yes Bank said in a stock exchange filing about the agreement signed in Washington DC. 

American Wells Fargo Bank will be sponsor and co-lender to the project, providing a loan of $20 million, to bring the total facility amount to $265 million, it added.  

"MSMEs are the growth engines and employment generators of our economy, and access to banking credit is one of the key enablers. This significant co-financing agreement of Yes Bank with OPIC and Wells Fargo will help further accentuate Yes Bank's ability to address unique needs of SME and MSME sectors," said Yes Bank chief executive Rana Kapoor. 

"OPIC's exciting partnership with Yes Bank, a proven Indian lending institution, and Wells Fargo will spark inclusive economic growth in India," said OPIC president Elizabeth Littlefield. 

"Wells Fargo is pleased to sponsor this important facility on behalf of Yes Bank and work with OPIC as they continue to support Yes Bank's lending to the small and micro businesses vital to economic growth in India," said Wells Fargo's International head Richard Yorke. 

The commitments by OPIC and Wells Fargo were made during US President Barack Obama's visit to India in January.

Agencies

India's GDP Up 7.4% in Q2 of FY 2015-16 & Manufacturing Sees Robust Growth of 9.3%

India's economy picked up pace in the second quarter of the current fiscal, comfortably outpacing China in the same quarter, but the stronger growth has dampened hopes of a rate cut when the Reserve Bank of India reviews its monetary policy on tomorrow. 

India's GDP rose 7.4 % in the second quarter of 2015-16, in line with expectations but faster than the 7% growth recorded in the preceding three-months. China's GDP rose 6.9% in the same quarter. 

The high growth was driven by a robust 9.3% rise in gross value added (GVA) in the manufacturing sector. 

Despite a poor monsoon, agricultural sector did better than expected with a 2.2% rise in GVA versus 2.1% YoY. 

The GDP growth had declined to 7% in April-June quarter from 7.5% in the previous quarter raising concerns that the recovery was not shaping well. 

RBI is expected to maintain interest rates after consumer inflation rose to 5% in October and the strong manufacturing growth numbers. 

The stronger growth will provide a boost to the Narendra Modi government in the ongoing parliament session wherein it is looking to pass key legislation including constitutional amendment bill to launch the goods and services tax ( GST). 

GDP at constant (2011-12) prices in Q2 of 2015-16 is estimated at Rs 27.57 lakh crore, as against Rs 25.66 lakh crore in Q2 of 2014-15 showing a growth rate of 7.4%, according to data released by the Central Statistics Office, Ministry of Statistics and Programme Implementation. 

Quarterly GVA for quarter was estimated at Rs 25.80 lakh crore, as against Rs 24.02 lakh crore in Q2 of 2014-15, showing a growth rate of 7.4 % over the corresponding quarter of previous year. 

As per the official data, the economic activities which registered growth of over 7.0 % in the second quarter were trade, hotels and transport and communication and services related to broadcasting, financial, insurance, real estate and professional services and manufacturing. 

The growth in the 'agriculture, forestry and fishing', 'mining and quarrying', 'electricity, gas, water supply & other utility services, 'construction' and 'public administration, defence and other services' was 2.2 %, 3.2 %, 6.7 %, 2.6 % and 4.7 %, respectively, during this period. 

Agencies

Microsoft’s Lumia 950 & 950 XL Rides On Cortana, Iris Scanner & Windows 10 OS Technologies

Microsoft has announced the launch of Lumia 950 and Lumia 950 XL, the first Lumia phones to come pre-loaded with Windows 10, in India. Designed to offer consumers the best of Windows 10 combined with powerful and performance driven technology, the new flagship devices include innovative features like Cortana, Windows Hello beta for Lumia and Continuum for phones. With stunning HD displays, new PureView cameras with 20 megapixel sensors and triple LED natural flash that shoots 4K video, as well as the latest in processing power, the Lumia 950 and Lumia 950 XL represent the best innovation from Microsoft.

Starting today, the Lumia 950 and Lumia 950 XL will be available for pre-booking at Microsoft Priority Resellers across the country, Microsoft Store on Amazon.in and retail chains of Croma, Reliance and Sangeetha at a best buy price of Rs 43,699 and Rs 49,399 respectively. Consumers will get Microsoft Display Dock free as a limited period offer.

Airtel consumers can double their data for free on purchasing their Lumia 950 and Lumia 950XL. 

“With the launch of Windows 10, we have ushered in an era of more personal computingwhich is all about interacting more easily, more naturally and more securely in a mobile-first, cloud-first world. Now, with Windows 10 on Lumia we take innovation to the next level and build upon the unique experiences of Windows 10 for phone users,” said Bhaskar Pramanik, Chairman, Microsoft India. “Designed for Windows fans and mobile professionals who desire a premium phone that takes full advantage of Windows 10, the new flagship devices are powerful, performance-driven, unique and innovative” he added.

“Smartphones, along with the other gadgets we use on a daily basis are expected to add value to our lives and to make us more efficient and productive. The Lumia 950 and Lumia 950 XL have been designed to be the most productive smartphones to fulfill that expectation,” said Ravi Kunwar, Director, Microsoft Mobile Devices. “The Lumia 950 and Lumia 950 XL deliver a seamless experience that extends across one's Windows devices, including innovative features like Cortana, Windows Hello beta for Lumia and Continuum for phones, ushering in the next level of innovation.”

Features of Lumia 950 and Lumia 950 XL Includes:

* Lumia 950 and Lumia 950 XL are the first Lumia phones to come pre-loaded with Windows 10 – delivering on our promise of one familiar and consistent experience that transitions seamlessly across Windows devices from key apps like built-in Office to access all your files, both personal as well as professional, via OneDrive and the cloud.

* Both Lumia 950 and Lumia 950 XL feature Continuum for phones, enhanced by the optional Microsoft Display Dock accessory. This Windows 10 feature allows people to use their phone like a PC by connecting it to a monitor and transforming it for larger-screen entertainment, or adding a keyboard and mouse to work like a PC with Windows 10 apps like Microsoft Office, while simultaneously taking calls or performing other tasks.

* As the latest premium handsets, these phones boast superior performance. Both devices feature a QuadHD AMOLED display featuring 518 ppi for Lumia 950 XL and 564ppi for Lumia 950, which means photos, videos and even simple reading show up well, even in sunlight.

* Microsoft’s PureView technology is built into both Lumia 950 and Lumia 950 XL cameras, boasting a 20MP sensor and triple LED natural flash. The camera captures the perfect image, even in the most challenging conditions, and those photos can be automatically synced across all Windows 10 devices with the Windows Photo app and shared easily with friends and family. Both Lumia 950 and Lumia 950 XL come with 5MP wide angle front camera.

* Integrated with Cortana, these phones are perfect for those who want to stay organized and efficient. Cortana works across your entire Windows 10 device family, but is with you all the time with these phones. Set her up to give news updates, calendar reminders, messages, appointments or even flight information.

* To make this all possible, both phones also have the latest-generation Qualcomm Snapdragon processors to get these things done faster.

Danfoss Showcases Mobile Hydraulics, Electronics Drives to Save Energy, Reduce Emissions

Danfoss India, the Indian subsidiary of Danfoss, a global evangelist for energy efficiency in the infrastructure, Energy, Climate and food sectors participated in the 8^th Edition of Excon, CII’s bi-annual event, bringing Indian & Global stakeholders across the infrastructure sector in India on a single platform. This year, Danfoss is showcased its varied mobile hydraulics solutions catering to Construction, Material Handling, Mining and Agriculture sectors.

Danfoss products & system solutions play   key role in saving fuel costs, reducing emissions and improving man-machine safety. In fact, many OEMs across the globe rely on Danfoss Power Solutions, to power, propel, control and steer their off highway machines efficiently, safely and reliably.

According to the Global Construction Outlook 2020 market research the global construction industry is projected to grow from US$7.4 trillion in 2010 to US$8.5 trillion in 2015 and to US$10.3 trillion in 2020. Emerging markets accounted for more than half of the world's construction output for the first time ever in 2012 (at 2010 US$) and by 2020 it is estimated to have a 56% share. Manufacturers of construction equipment are also focusing on cutting costs during manufacturing of their machinery, and a great part in which costs can be reduced is the assembly of machinery components.

Backed by vast experience in applying hydraulics to both mobile and off-highway solutions, Danfoss power solutions portfolio encompases applications for the entire construction industry. Danfoss Power Solution products are widely used by global OEMs on their Construction machinery, road machinery & mining machines. Danfoss pressure sensors and solutions are now widely used in excavator, cranes, concrete machinery, piling machinery, road machinery, trucks and other areas, while Danfoss temperature sensors are highly recognized in the industry for its outstanding performance.

“The construction sector is a major employment driver with many ancillary industries such as cement, steel, brick, timber and building material depending on it. Reports indicate that a unit increase in expenditure in this sector has a multiplier effect and the capacity to generate income as high as five times. With India’s ambitious development goals, the need for infrastructure will continue to increase and this gives ample growth opportunities for the construction vehicles industry too. Backed by intelligent automated solutions like those provided by Danfoss, the industry stands to gain in both efficiency and productivity. We look forward to the interaction with varied stakeholders at EXCON and are certain of our expertise being conveyed at the perfect forum for the industry,” said, Bharat Bhushan, Country Manager Sales, Danfoss Power Solutions.

Some of the products displayed at the exhibition include Hydrostatics closed circuit piston pumps and motors, Open circuit piston pumps, Orbital Motors, Steering Units & Systems, PVG Proportional Valves & electronic components in addition to newly launched products like Electronic Torque Limit Control pumps, and Telematic solutions. These part & components find applications inConstruction equipment, Road building machines, Material Handling equipment, Specialty equipment and Agricultural machines. High power VLT drives dedicated for Crane and Material handling application is also being showcased.

“With energy efficiency gaining increasing prominence given the government’s thrust on lowering dependence on conventional sources of energy, it is imperative that all industries work towards lowering their energy intensity. Building the necessary Infrastructure to help achieve our development goals will require all stakeholders from the industry to contribute their bit towards efficiency led productivity to ensure that the sector lowers its dependency on fossil fuels,” added Rajesh Premchandran, Vice President Refrigeration and A/c Division.