Over 100 To Be Layed Off at eBay India from Its Bangalore Tech Team

It appears that the Trump effect is already working. eBay is laying off nearly 100 odd employees from its product and technology team in Bangalore and shifting work to other global centres.

“As a normal course of business, eBay regularly reviews its operational structure and today we announced some changes to our global product and technology team. As a result, we are reducing our overall technology workforce in Bangalore and shifting work to other global centers around the world,” an eBay spokesperson confirmed to Economic Times.

The layoffs, which were first reported by Tech in Asia, are part of a global reorganization of the tech and product teams, the company says.

“The development centre in Bangalore has two teams, the analytics team and the product and tech team,” the spokesperson added. “The reductions affects the product team, the analytics team is fully intact.”

Without disclosing the exact number of people to be impacted by the decision, the spokesperson said that Bangalore centre will now focus on eBay India – dedicated product and development work. “We remain committed to India and will continue to invest in core product and technology development for eBay India.”

Last year, eBay had cut around 350 jobs across its Bangalore and Chennai development centers, as per several media reports. Employees across eBay Marketplaces and PayPal business were reportedly impacted in those layoffs.

Agencies

TSSC, TiE and IESA Signs MoU for IoT Skill Development Centre

At IoTNext 2016, India Electronics and Semiconductor Association (IESA) with The Indus Entrepreneurs (TiE), Bangalore and Telecom Sector Skill Council (TSSC) announced a MoU for opening a Center of Excellence (CoE) in Bangalore.

With the growth of IoT in every industry, there is an urgent need to train technicians to deploy, manage and maintain the IoT edge Nodes & Gateways. The main objective of the COE is to prepare the current workforce to be industry-ready in the coming years.

The collaboration between TSSC, IESA and TiE, the CoE will help in providing a platform to skill, develop and train blue collared workers in the field of IoT. It will empower the group to focus on gaining competency using some of the best practices and help in creating job opportunities for them as the industry shifts towards automation.

Naganand Doraswamy, president, TiE Bangalore stressed about the need for such initiatives. He said, “Both TiE and IESA are proud to present the second edition of IoTNext. 
As the industry shifts towards automation, it will help empower the group to focus on gaining competency using some of the best practices and also help create job opportunities. The growth of IoT in every industry has led to the need to train technicians in order to deploy, manage and maintain the IoT edge Nodes and Gateways. 

At the summit, TiE-IESA has also launched a unique IoT Startup directory, a compilation of IoT startups across the nation. It will be an online repository with detailed information on the startups and the products they offer. TiE- IESA has also teamed up with HAX Accelerator to support Indian startups.

New Volvo Coach Range 9400 Unveiled at Busworld 2016, Bengaluru

Swedish coach maker Volvo has unveiled new 9400 range of buses at the Busworld 2016 show that started on November 10, 2016 at the International Exhibition Centre, Bangalore.

The new range of buses include range topping 9400, 14.5-metre long coach powered by new 11-litre engine and 9400, 12-metre long, 7.7-litre engine equipped coach that will replace the popular B7R model.

The 12-metre long 9400 coach gets 7.7-litre engine sourced from the VECV's Pithampur facility. Volvo in association with Eicher started local manufacturing of this engine in line with Make in India initiative of government of India. The new engine replaces 6-cylinder 7-litre engine. BS IV compliant new engine will develop 333bhp and 1,200Nm of torque mated to a 6-speed manual gearbox.

On the other hand, the 9400 multi-axle features 11-litre engine in place of 9-litre engine. The 6-cylinder unit develops 410bhp of power at 1600-1900rpm and whopping 1980Nm of torque at 950-1400rpm mated to I-Shift 12-speed AMT transmission. The bus measures 14.5-metre long (up from 13.8-metre), 3.6-metre in height and 2.6-metre in width. It also has 8.35-metre wheelbase and 19,500kg gross vehicle weight. This coach has been showcased in 2+1 seating layout with dedicated USB charging points at the show. It comes with three-point seatbelt for each seat similar to cars. The coach also comes with optional chemical toilet, and pantry with fridge.

"Volvo Buses has always positioned itself to provide products that deliver the right value to our customers. The engine range is a good example of India's role in Volvo Group's global plans. The way forward for us is to offer in India the latest solutions that can provide the finest ownership experience," said Haken Agnevall, president of Volvo Bus Corporation.

The new range of buses will be manufactured at the plant near Hoskote, Bengaluru. Volvo has sold more than 6000 buses in India from 2001 in which 1,500 Volvo city buses currently operate in 34 cities. The company recently launched 8400 hybrid city bus in Navi Mumbai and it has a parallel hybrid system, which comprises a 5-litre, 4-cylinder, in-line diesel engine and an electric motor.

Digitization of the Indian Legal System the Urgent Need of the Hour

LegalDesk.com, in collaboration with iSPIRT Foundation, conducted a conference on “Digitization of the Indian Legal System”. The event which was held at KSCA Auditorium, discussed the need for digitization and newer concepts such as eNotary. As seen with Aadhaar, digitization brings about simplification of legal formalities, cost-effective and convenient methods to get legal work done.

During the event, LegalDesk.com unveiled a new technology that enables notarization of documents electronically. The proposed eNotary solution will verify a person’s identity by utilizing a combination of Aadhaar based authentication and uses video/audio recorded interview. With the eNotary system attestation, authentication and verification of legal instruments can be done remotely.

The present legal system in India is marred by pendency and it hasn’t evolved from traditional methods as we are highly dependent on paperwork rather than opting for a more digital approach where the entire legal space gets digitized. Digitization of the legal space therefore becomes the need of the hour.

Speaking on this occasion Mr. Prabhuling K Navadgi, Additional Solicitor General of India,

said “This is a phenomenal initiative and a great way to examine the digitization of legal system in India. The concept of eNotary is very appealing and the concept can be further extended to digitize court records, property and document registration procedure in the country and can be considered keeping in mind the preventive measures against misuse”

Sr. Advocate of the Supreme Court of India, Sajan Poovayya was quoted as saying “With e-government initiatives continuing to transform the nature of our interactions, an enquiry into the probable role of technology in aiding a well-functioning judicial system, as is necessary to keep up with the demands of modern democratic society, is definitely well-advised and well-timed. The cascading effect, which would result from a sincere adoption of information technology, including digitization of records, electronic authentication and the use of electronic media, will most certainly go a long way in ensuring access to a more transparent and accountable justice system."

Ashok Kadsur, Co-Founder of LegalDesk.com said “We are aiming at bringing about a significant change to the Indian Legal System by simplifying Legal with Technology. Onceapproved by the Government, the eNotary initiative will be one of its kind as it would help the masses get notarization done in abstensia without them having to run from pillar to post.”

While the current system is functional, it lacks convenience and order at times and that there is need to pave the way for technology to take over traditional methods throughout the country and not limit it to few cities alone.

In the conference held by LegalDesk.com in collaboration with iSpirt, such issues were addressed and effective mechanisms to eliminate impediments in the way of digitizing the legal space was debated upon.

Several prominent personalities were in attendance to speak on the selected topic. The key speakers of the day were -

●     Hon’ble Shri. T. B. Jayachandra , Cabinet Minister for Law, Parliamentary Affairs, Higher Education and Tumkur District In-Charge.

●     Shri. Prabhuling K Navadgi, Additional Solicitor General of India.

●     Shri. Sajan Poovayya, Sr. Advocate of Supreme Court of India.

●     Shri. Kishore Mandyam, Co-Founder, DAKSH Society of India.

●     Shri. Sanjay Khan Nagra, Policy Expert, iSPIRT Foundation.

Banking, Retail & Healthcare Biggest Adopters of Startup Tech in India

A big push towards digital transformation amongst enterprises is leading to increasing adoption of startup technologies. Banking, Retail, and Healthcare are the top adopters based on their growth potential, willingness to adopt startup solutions, and availability of such complex solutions locally. These are some of the highlights in the Ecosystem Report on Enterprise Ready Startups 2016 released by Microsoft Accelerator. The report is focused on those startups that are serving large and small enterprises through deep and complex technological solutions.

Key highlights from the Report:

The report was unveiled along with a periodic table which showcases the top 151 enterprise ready startups in India and the 10 sectors that have demonstrated momentous growth. Ravi Narayan (Global Director, Microsoft Accelerator), unveiled the report along with Jayanta Dey (Vice President & CTO Manufacturing and Technology SBU at Wipro), Peter Gartenberg, (General Manager, Enterprise and Partner Group, Microsoft Corporation India), Ben Mathias (Managing Director & India Head at Vertex Ventures) and Vinod Muthukrishnan (CEO, CloudCherry), at Microsoft Accelerator in Bangalore today. The report is available to download on aka.ms/entreadyindia.

“We are very happy to note that Indian enterprises are looking at startups for innovative solutions and expertise for their Digital Transformation in India. This Ecosystem Report provides insights into how this enterprise-startup partnership has evolved in last few years, underlining the value of collaboration and building the startup ecosystem.” says Ravi Narayan, Global Director, Microsoft Accelerator.

This report focuses on B2B and B2B2C business models, taking market traction and external funding as indicators of growth. Key findings of the report are:

1)    50% of the Enterprise Ready startups are in the Healthcare, Retail and Banking sectors. Driven by optimization, these three sectors have emerged as the biggest adopters of the enterprise technology solutions. Banking and Healthcare have proven to be the most receptive to startup solutions. With the rise of digitization across sectors, deep technology companies play a pivotal role in empowering these corporates to build innovative ways to engage with customers and address complex business requirements. With the help technology banks manage to increase customer traction and achieve customer satisfaction while companies in the healthcare space are expanding physical reach and affordability through machine learning and data sciences.

2)    Data Sciences and Security startups find it easiest to find customers

This is driven by the broad base of customers and sectors that these startups can address natively. Disruption of technology has helped these businesses to build deep expertise and position them uniquely vis-à-vis other companies in multiple sectors and domains.

3)    Startups catering to Banking sector find it easiest to raise funds

The startups catering to Banking sector are at the forefront of the digital transformation of India. India already has a billion mobile phone users, as well as a billion citizens with active bank accounts that are linked to their digital identities by way of Aadhaar. The tremendous scope of opportunity these startups can leverage is one of the key reasons these startups are successful in attracting funding.

To compile a comprehensive & accurate study, the exercise was restricted to a pool of over 500 enterprise focused startups that were founded post 2000 and are headquartered in India. The report lists the startups based on their Enterprise Readiness Score, which is measured based on three parameters – customer traction, funding velocity of a startup (Total Funds Raised / No. of Rounds of funding) and size of the company.

Post PM’s Announcement, Paytm Sees Over 435% Increase in Traffic

India’s largest mobile payment and commerce platform, Paytm is registering massive growth across India within hours of the Honorable Prime Minister Narendra Modi announcing his plans to have a corruption-free India. The Paytm platform saw an overwhelming 435% increase in overall traffic as millions of consumers across India have taken to using their Paytm Wallets to transact offline.

Within hours of the Prime Minister’s announcement, the company has registered a 200% hike in number of app downloads and 250% surge in number of overall transactions and transaction value. The number of Saved Cards also grew by 30%, pointing at a strong set of repeat customers the platform has now acquired. The company has noted 1000% growth in money added to the wallet and 400% growth in transaction value of offline payments. This is a great showcase of how fast consumers across the country are taking to the ease, convenience and safety Paytm’s cashless payments offer. 

Madhur Deora, CFO – Paytm said, “This is the biggest and most ambitious step ever to crack down on black money and fake currency. We stand by the government in its efforts towards taking black money out of the equation and offering a major boost to the Indian economy. Since Paytm is fast becoming synonymous to all kinds of payments, we are happy to announce we have registered a strong surge in volume on our platform.”

Paytm’s cashless payments are widely accepted across India owing to the ease, convenience and safety they offer. Brick-and-mortar merchants and other Online-to-Offline sectors present a huge opportunity for Paytm to integrate its fast, secure and convenient payment solution. With the country’s overwhelming response to Paytm, it is setting bolder targets to achieve its goal of helping India’s transition into a cashless economy.

Paytm users can pay virtually anyone who has a smartphone just by scanning their QR code or entering their mobile number in the Paytm app. Paytm Cash can be used to pay for local taxi/autos fares, paying at petrol pumps, grocery outlets, restaurants and coffee shops, multiplexes, local tea/vegetable vendors or other service providers who prefer Paytm because of its seamless payment solutions. The platform also allows users to do online recharges and bill payments, book movie tickets, do travel bookings and shop for products online among others. The safety and convenience of the process has triggered mass adoption across various categories, and has seen thousands of new users joining the Paytm cashless ecosystem within hours.

Paytm is charting the next chapter in the evolution of the country’s app ecosystem with the Paytm Super app. Being the segment leader in mobile payments and commerce, Paytm has been ramping up its customer and acquisition efforts as they realize the benefits of the strong positive network effect and its diverse use-cases. The company is already dominating the country’s offline commerce with its seamless online-to-offline (O2O) payment solutions with an aim of building the country’s largest offline payment network.

KSTPA & Tally Solutions to Simplify GST for STPs in Karnataka

Karnataka Sales Tax Practitioners Association (KSTPA) has announced the signing of a Memorandum of Understanding (MoU) with Tally Solutions Pvt. Ltd., the premier Indian software product company to educate STPs across Karnataka on GST compliance.

KSTPA will conduct GST education camps for all its members taking them through the nuances of GST and the impact it will have on their business while Tally Solutions will enable them with the knowledge on how technology and its adoption can help STPs comply seamlessly in the GST era. These GST education camps are stated to commence from early November and aim to address the entire STP community in Karnataka within the next 60 days. 

On the occasion of the MoU signing, Sathya Pramod, CFO, Tally Solutions, said, “The dawn of the GST era would mean that millions of businesses would need to be educated and updated with technological tools to be tax compliant. The STP community will play a major role in this regard. KSTPA’s initiative to on-board all its members with GST information is commendable and being in the technology space since the last 30 years, we see it as our duty to help all our stakeholders be GST ready, in every way we can.”

S Prakash, General Secretary, KSTPA, who was also present at the event said “With GST we are headed towards a new environment of compliance verification and accounting that is entirely computerised with minimum human intervention. In this regard, it is crucial that our members understand this technology based law in time and are fully prepared to embrace it. We are happy to collaborate with Tally in this and hope they will extend full support in imparting GST related know-how, much like what they did when VAT was introduced in the country.”