GST, Bankruptcy Code to be Included in Next Report: World Bank

The World Bank will take on board implementation of the goods and services tax and enactment of the bankruptcy code while preparing the ease of doing business report next year, said its country Director Junaid Ahmad.

He also suggested that India has managed to improve on various sub-rankings although the World Bank's latest report did not show any improvement in the country's ranking as other nations too have done their bit.

In the World Bank's latest 'Doing Business' 2017 report, India's place remained unchanged from last year's original ranking of 130 among the 190 economies that were assessed on various parameters.

But the last year's ranking has been revised to 131 from which the country has improved its place by one spot.

India has expressed its disappointment over its low rank and has also suggested a review of the ranking methodology.

"Our methodology had led to very interesting response by different countries... we have learnt that the complexity of understanding of doing business needs to change. So, our methodology will evolve as we are doing it right now," he told reporters.

"I do not think we have given India a low ranking at all. If you look at the sub-rankings, India has managed to improve quite a bit. Where we are not able to show the aggregate lift-off is also because the other countries also increased their ranking relatively."

As for India, he said, it is continuing to do its improvement and "my bet, next year you watch out, it will be reflected in the rankings".


He added that GST is going to change the way Indian markets are working now.

Karnataka Slips to 13th Place; Andhra Tops in Ease of Doing Business

Ranked ninth in 2015, Karnataka has slipped to the 13th position in the 'ease of doing business' ratings this year.

Union Commerce and Industries Minister Nirmala Sitharaman announced the ranks on Monday. The Centre's Department of Industrial Policy and Promotion (DIPP) and the World Bank jointly award the ratings.

Karnataka featured among the better-performing states in tax, environment, labour and inspection reforms.

Andhra Pradesh and Telangana shared the first position, leading on almost all parameters, including tax reforms. They got credit for smoother grant of land, labour and construction permits.

Prime Minister Narendra Modi's home state of Gujarat slipped to the third position from last year's first. In the crucial area of construction permits, Karnataka lost, despite the authorities saying most approvals were streamlined and made available online.

Ranking

2016      2015      State                 Score

1              2         Andhra Pradesh 98.78%

1             13        Telangana          98.78%

3             1          Gujarat               98.21%

4             4          Chhattisgarh      97.32%

5             5          Madhya Pradesh97.01%

6            14         Haryana            96.95%

7            3          Jharkhand          96.57%

8            6          Rajasthan          96.43%

9            23        Uttarakhand       96.13%

10          8          Maharashtra      92.86%

11          7          Odisha               92.73%

12        16          Punjab               91.07%

13        9            Karnataka          88.39% 

14       10           Uttar Pradesh    84.52%

UM Motorcycles To Up Localization To 75-80%; Plans Second Manufacturing Plant in Karnataka or Maharashtra

By Manu Sharma
Indian two-wheeler market has been extremely bullish for the last few years especially in the motorcyles segment with a displacement of 300cc, 500cc and above. As this segment is expected to double up to 20,000 units by 2020, the American bike major UM Motorcycles is set to further expand its localization in India by another 15-20% and also plans to set up another manufacturing and Research and Development centre in the southern or western parts of Indian.

UM Motorcycles is a joint ventures between Miami-based UM International and Lohia Auto. The company plans to localize the engines in India. Presently, the company as part of the Make in India Initiative localizes about 60 percent of the components from its plant in India. By localizing the engine and other critical components it plans to up the initiative by another 15-20 percent to 75 or even 80 percent out of India.

The company plans to invest about Rs 50 crore in including the engine component in its manufacturing plant over the next 12-18 months, which are currently imported.

Rajeev Mishra, Managing Director of UM India and Asia, Middle East and Africa says, “The company will be ramping up production at its Kashipur facility in Uttarakhand. The current production is around 12,000 units a month, which will be increased to 50,000 units. Since we sell a large market for our products in southern and western parts of India, we are exploring the possibility of setting up another plant and research centre either in Karnataka or Maharashtra by next year.”

The company, which had planned to start selling its bikes earlier in August, started dispatching the models. Its models Renegade Commando and Renegade Sports, both in the 300-cc segment, are priced at about Rs 1.49 lakh and Rs 1.59 lakh, respectively.

About 4,300 bookings, and around 65% of sales volumes is expected from the south and west markets. "The biggest markets are Karnataka, Andhra Pradesh and Tamil Nadu and south alone contributes 35-40% to our volumes," he said.

The company presently employees about 32 engineers at its research and development centre in New Delhi and another 40 employees at its plant in Kashipur.

Mishra said engine, fuel tanks, ABD are a very critical components of a motorcycle and if these component is localized than we will up our localization by another 15-20 percent. “Our team is working on development the engine and other critical parts in India itself.”

All the critical components for the UM bikes are imported from Thailand, China and Japan. “We also have plans to develop an ABS and ABD locally for the future bike roll outs,” he concludes. 

UM Motorcycles Opens Tenth Dealership on Sarjapur Road, Bengaluru

UM Motorcycles has opened its tenth dealership in India in Bengaluru. To be called, Bengaluru UM, the new dealership is situated on Sarjapur Road, Bengaluru.

Spread over an area of approx. 2400 sq ft, the dealership facility has a showroom integrated with an after-sales service facility to ensure that the customers receive best-in-class pre-and post-sales ownership experience.

Speaking on this occasion, Rajeev Mishra, Director – UML, said, UM Motorcycles is focused on delivering a “pure motorcycling” experience to the customers. Our motorcycles are simple, evocative of classic style and a fun to ride.  Our partnership with Bengaluru UM is very significant and reflects UM Motorcycles efforts to connect with its consumers and provide high quality services that equal international standards. With a perfect combination of aesthetics, dynamism and perfect road handling, our UM products provide a truly unmatched biking experience.” This dealership will house our flagship products like Renegade Commando and Renegade Sports S. The prospective customers of UM Motorcycles in Bengaluru will be able to discover our products up close and personal at this new dealership.” 

Madhuri Mudhol, Proprietor Bengaluru UM said “UM Motorcycles are considered among the most coveted Cruiser brands in America and we are fully committed to this partnership and look forward to an exciting time ahead. Working with UM Motorcycles in Bengaluru will be an enriching experience that will enable both partners to grow.UM Bengaluru has engaged professionally trained staff for the management of sales and after sales, to ensure best in class customer service for both pre-and post sales ownership experience.

The Renegade Commando is a low-slung cruiser powered by a high powered 280 cc Engine with 25 BHP at 8,500 rpm and 21.8 Nm of torque at 7,000 rpm, mated to a six-speed transmission. This lightweight machine has a 200 mm ground clearance and an inbuilt USB charging point. The front disc brakes improve the braking efficiency drastically while radiation increases the engine efficiency. The bike comes with wide handlebars and hydraulic telescopic front suspension and spring rear suspension, which is ideal for a cruiser-segment motorcycle. The Renegade Commando will be available at Rs 1.69 lakhs (ex-showroom, Bengaluru). 

The Renegade Sports S model will also share the same engine as the Renegade Commando. The Renegade Sports S was much appreciated when it was showcased at the 2015 EICMA in Milan. The Renegade Commando and its sibling Renegade Sports S come with an electric start. An innovative feature called Service Alert Maintenance comes as a standard fitment in both Renegade Commando and Renegade Sports S. The LED Lights come as a standard in Sports S version. Six-speed synchronized mesh has been added for easy cruising. The front wheel has telescopic suspension while the rear wheel has dual shock absorbers. These motorcycles have a fuel tank of 18 liters with a kerb weight of 172 Kg. The Renegade Sports S is available at Rs 1.59 lakhs (ex-showroom, Bengaluru).

India See Dip in Funding But Eyes 10,500 Startups by 2020: Nasscom Zinnov Report

Even though the Indian startup ecosystem witnessed subdued funding in 2016, the year-on-year growth of startups getting funding grew by 8% in the same period, states a report by IT industry body Nasscom and research firm Zinnov.

Amidst the popular belief of the Indian startup ecosystem’s slowdown, India continues to harbor the third largest start-up base, marginally behind the UK as per the NASSCOM-ZINNOV start-up report titled“Indian Start-up Ecosystem Maturing – 2016”. The report further states that the ecosystem is poised to grow by an impressive 2.2X to reach more than 10,500 start-ups by the year 2020. The report was launched on the side-lines of NASSCOM Product Conclave 2016 in Bengaluru in the presence of C.P. Gurnani, Chairman, NASSCOM; R. Chandrashekhar, President, NASSCOM, Ravi Gururaj, Chairman, NASSCOM Product Council and Pari Natarajan, CEO, Zinnov.

Some of the notable findings of the report include; continued growth in the number of startups in 2016, with Bengaluru, NCR, and Mumbai continue to lead as the major start-up hub for the nation. In terms of vertical growth, investors are looking at domain like health-tech, fin-tech, and edu-tech. With a total funding of approximately US$4 billion, close to 650 start-ups were funded signifying an aware and healthy growth of the ecosystem.

R. Chandrashekhar, President, NASSCOM, said, “The total quantum of funding has come down to 30% during 2016. India has emerged as the third largest startup base and such ventures are poised to grow 2.2 times to reach 10,500 by 2020, despite a perception that the ecosystem in the country has slowed down in the last year."

The report states that the number of tech startups in India is expected to grow by 10-12%, to over 4,750 by the end of 2016, and will give employment to over 2,10,000 people.

"Technology startups are creating a new identity for India, and its technological prowess. Besides, solving India-centric problem these startups are also coming up with cutting edge solutions which are making a global impact," he adds.

When asked about the low ranking of India in the ease of doing business ranking, Nasscom President said it is a hugely worrying issue for the growth of startup ecosystem in the country. India ranks 130th position in terms of ease of doing business.

Ravi Gururaj, Chairman, NASSCOM Product Council, said, “The start-up landscape is undergoing great churn with fast-paced changes happening across the board. Owing to focused funding and a growing need of scaling up capabilities, Indian entrepreneurs will continue to attract global attention due to a perfect mix of talent, technology, traction and transactions. With Indian start-ups now churning out critical services and solutions for large multinationals, riding on the digital revolution which is encompassing the world; the situation for Indian start-ups is only going to get better.’

Further, according to the report, the number of tech start-ups in India is expected to grow by 10-12% to over 4,750 start-ups by the end of 2016. Interestingly over 1400 new startups have emerged in 2016 denoting that that the ecosystem is becoming prudent with both investors and start-up founders focusing on profitability and optimizing the overall spend. With this impetus, India will become home to over 10,500 start-ups by 2020, employing over 210,000 people reveals the report.

Furthermore, incubators and accelerators are playing a substantial role in strengthening the startup community throughout India. The report highlights the significant rise in number of accelerators to improve startups’ outcomes and provide them with a support that they require. With impetus from Government and Corporates, there is a 40% increase in the number of active incubators and accelerators in 2016 with over 140 active incubators, helping entrepreneurs experiment with new ideas by offering them functional expertise and resources. Over 30 new academic incubators have been established under the Government’s ‘Start-up India Stand-up India’ initiative this year. With the country showing signs of increased interest in entrepreneurship, Tier-II/III cities have established 66% of the new incubators.

Unbound by the fear of failure or downturns, a new breed of ‘young’ entrepreneurs is unleashing an incredible wave of start-up movement in the country. The report reveals an increased interest from student entrepreneurs this year. A remarkable growth of 25% has been witnessed in 2016 with 350+ start-ups founded by young students. Median age of start-up founders has reduced marginally from 32 years in 2015 to 31 years in 2016.

Talking about investments, the report states that investors are increasingly looking at opportunities in start-ups in areas other than online retailing. The sentiments are high for ventures in verticals like Fintech, Healthtech, Edutech, data analytics, B2B commerce and artificial intelligence.

NI & IBM Partner to Advance the Industrial Internet of Things

NI, the provider of platform-based systems that enable engineers and scientists to solve the world’s greatest engineering challenges, announced today that SparkCognition is partnering with NI and IBM to collaborate on the Condition Monitoring and Predictive Maintenance Testbed. The goal of the collaboration is to deliver an unprecedented level of interoperability among operational technology and informational technology as organizations search for better methods to manage and extend the life of aging assets in heavy machinery, power generation, process manufacturing and a variety of other industrial sectors.

In a new age of Big Analog Data solutions, users can take advantage of machine learning to harness value from information. They can collect raw data and derive insights to improve operations, equipment and processes. Users can also realize huge cost savings and competitive advantages as artificial intelligence-driven prognostics warn of component failures before they occur, identify suboptimal operating conditions and assist with root-cause analysis.

NI’s open, software-centric platform creates the foundation of the Condition Monitoring and Predictive Maintenance Testbed, which delivers on the opportunities present in machine learning. Customers can apply SparkCognition’s cognitive analytics to proactively avoid unplanned equipment fatigue and failure of critical assets; thus, enhancing system capabilities by gaining advanced insights into equipment health and remediation solutions. These capabilities help increase operational efficiencies and safety, and decrease maintenance costs.

“With IIoT technologies driving vast sensorization of industrial equipment, and massive amounts of data being collected on those assets, the collaboration between NI and SparkCognition powers the complex and intelligent processing of information to produce valuable insights,” said Stuart Gillen, director of business development at SparkCognition.

 “We are excited that our platform can acquire the data and extract the features to drive SparkCognition analytics for IIoT solutions,” said Jamie Smith, director of embedded systems at NI. “Combined with existing technologies in the testbed, the addition of SparkCognition presents new ways to help automate the process of turning sensor data into business insight.”

With this software-defined approach, viewing, managing and refining a broad range of assets stands in direct contrast to the traditional, fixed-functionality methods of the past, which often take too much time, rely on hard-to-find talent and require custom model building for each type of asset.

Nikon’s Array of COOLPIX Series 2016 to Add Spark to the Indian Festive Season

Nikon India, the 100% subsidiary of Nikon Corporation Tokyo, leaders in imaging technology is pleased to announce the launch of the Nikon COOLPIX Series 2016 to brighten season’s celebrations for our customers. The latest addition to Nikon’s extensive offering of point-and-shoot cameras is packed with remarkable new features to create a wonderful photography experience.

Each of the new seven cameras in this year’s COOLPIX series are marvellously designed through Nikon’s relentless pursuit of advanced quality combined with a youthful style and hi-tech innovation. The series offers a collection of a wide range of vibrant compact cameras, which enable you to capture and share your life’s moments effortlessly in all its hues. The cameras present striking capabilities to fulfil all desires of a passionate photographer.

The inspirational Nikon COOLPIX B700, B500, A900 and A300 are powerful image creation devices with the latest inclusion of the SnapBridge feature. This ensures that the COOLPIX series elevates the photographer’s journey with the availability of the all-time smart phone connectivity. Social snappers and visual connoisseurs are just a tap away from sharing and viewing their favorite videos on social media in 4K resolution, shot through the latest Nikon COOLPIX A900 and B700 featuring 4K ultra high definition video capturing capabilities.

Commenting on the announcement, Kazuo Ninomiya, Managing Director, Nikon India said, “We are indeed delighted to bring the new range of COOLPIX series this year. At Nikon, we continue to elevate the bar of technological enhancement and the availability of 120x dynamic zoom feature in B700 camera bears testament to this fact. The new devices in the COOLPIX series ensure that photography enthusiasts are able to capture India’s colorful, vivacious and diverse culture with new perspectives. The new series reaffirms Nikon’s aim of making the skilful art of digital photography accessible to all and the easy mobility of the devices enables them to take spectacular pictures without missing any precious moment.”

Sajjan Kumar, Senior Vice President – Corporate Sales and Strategy, Nikon India said, “At Nikon, we aim to address the ardent wishes of all photographers and the COOLPIX range of 2016 has been launched to foster their innovative skills. With the ever-increasing impact of social media, photography has established itself as the trendiest form of expression among the youth all across the country. Two of the new models also capture crisp details in 4K ultra high-definition. In congruence to this consumer demand, the COOLPIX 2016 series will be available across all Experience Zones in India at an affordable price range. The penchant style that COOLPIX brings makes the devices loved across all age groups, which makes these cameras the first choice amongst all photography enthusiasts.”

The new series includes seven new models in the COOLPIX Series, which comprises cameras with various features like W100 being a waterproof and shockproof compact digital camera. Its compact rounded design, large buttons and intelligent features such as Underwater Face Framing, ensure that every member of the family can capture high quality images and Full HD video at the press of a button. New creative options including Add Cartoon Effect, colorful Stamps and Frame Decorations also aid in cultivating an interest amongst younger users.

The B700 presents an advanced balance of mobility, zoom performance and imaging technology for a vast zoom range. Equipped as the most compact ultra-high-power 60x optical zoom, 120x Dynamic Fine Zoom camera in its class, the B700 with 20.3 megapixels backside-illumination CMOS image sensor enables its owner to capture vibrant scenes and portraits in sharp detail, both day and night.

Conveniently-sized with no compromise on image quality, the versatile B500 supports the reliable image capture of life’s best moments from pet photography, graduation holidays, to surprise celebrations.

With 40x optical zoom and 80x Dynamic Fine Zoom, vast vistas and precise close ups become a breeze to capture, all in a convenient size that is both functional and easy to handle for everyday use.

The A300 is equipped with Target Finding autofocus (AF) to ensure that desired subjects are always in focus. For video creation, HD movie recording is available in 720/30p format with a simple press of a dedicated movie-record button. Users with a preference for handheld shooting are supported by a 4-axis Hybrid VR system which aids in reducing the effects of camera shake for perfectly preserved video memories. Compact and simple without the frills, the A300introduces handy features to capture and frame holiday adventures and precious family times for great photographs. This initial camera in the new 2016 COOLPIX line-up features a reliable NIKKOR lens capable of 8x optical zoom to snap photos of scenic landscapes and fun group shots, video quality aided by 20.1 effective megapixels, HD movie .

Ideal for travelers, the A900 is the perfect small camera to slip in the backpack or a pocket for the user on the go. With 35x optical zoom and 70x Dynamic Fine Zoom, the camera ensures that the user is always poised to capture the perfect shot, whether watching the sun set on a beach, or soaking in a street carnival. For those looking to capture the tiniest details on their travels, the A900 also achieves sharp focus even in macro mode at a distance of approximately 1cm, recording in 720p format and a 16x Dynamic Fine Zoom^*3 for impressive, detailed close-ups all using the simple touch of a button.

The A10 balances functionality and fun for users looking for versatility and value in a camera. Made for all ages, it ensures great image quality and easy shooting with a 16.1 effective megapixels^*4 CCD sensor and a suite of intuitive features. Image creation is supported by a 5x optical zoom so users are never too far away from capturing exciting travel activities or a relaxing afternoon at the park, while also being assured of sharp, vibrant captures with the aid of high-performance NIKKOR lens and a blur-reduction function. These moments can also be preserved with HD movie recording in 720p format with the push of a dedicated movie-record button.

The 2016 COOLPIX range sees the introduction of a “Superlapse” movie function for COOLPIX B700 and A900. With this feature, still images saved from a recorded movie are automatically stitched into a 30 or 20fps fast-motion movie, even while recording in motion, allowing the user to experiment with creative composition or changing landscapes. In addition, bustling cityscapes or picturesque sunsets can be put together for an impressive time-lapse creation with the quick selection of a shooting scene.

The abovementioned seven new cameras are the addition to existing COOLPIX line up which includes, COOLPIX S700, COOLPIX L340, COOLPIX P900 and COOLPIX AW130.

New models MRP & Color variants:

1)      The Nikon COOLPIX B700 is available at MRP of Rs 23,950 across India and comes in black and red colors with a sophisticated and high-quality finishing touch.

2)      The Nikon COOLPIX B500 is available at MRP of Rs 15,950 across India and comes in the exciting colors of red, black and plum, giving the additional flair to an artistic expression.

3)      The Nikon COOLPIX A900 with its premium orthodox camera design comes in the colors of black and silver and is available across India at MRP of Rs 23,950.

4)      The Nikon COOLPIX A300 comes in the playful colors of red, black, silver, pink and decorative red at MRP of Rs 7,950 across India.

5)      The Nikon COOLPIX A10 comes in four stylish colors to capture memories: Red, Silver, Black and Purple

6)      Discover the fun and creativity with the new COOLPIX W100 at MRP of Rs 7,950 in colors of Blue, Yellow, White, Pink, and a new Marine-motif design, available across India.

7)      The A100 flaunts Silver, Black, Purple, Purple Design, Red colors at MRP of Rs 6,450, and is available across India.