The Union Budget Paves Way For Strong Digital Savvy India In 2022-23

The Union Budget 2022 has recognized the digital growth of the country as a primary focus. In order to promote cleaner mobility, the battery swapping policy and interoperability standards that government plans to introduce, incorporates the concept of energy/battery as a service. This will also help in developing the charging station ecosystem which is imperative for massification of EVs. 

Sanjay Gupta  Vice President and India Managing Director, NXP Semiconductors said the announcement will give impetus to the private sector to develop sustainable and innovative business models for battery and energy as a service.  He further added, “The scheme for design led manufacturing to be launched for 5G ecosystem as part of PLI will be a boost to the overall telecom and electronic sectors. It will also provide and promote research and development of technology and solutions and will enable affordable broadband and mobile communication.

"The plan to roll out E- passports with embedded chip and futuristic technology, digital rupee using blockchain by RBI, Drone Shakti and Kisaan Drones and opening Defence R&D for industry, startups and academia are welcome moves that will accelerate the growth and development of the semiconductor industry in the country. As the government continues to accentuate focus on Atmanirbhar Bharat and Digital India, we are hopeful that this year’s budget will propel India towards becoming a global electronic hub,” adds Sanjay Gupta .

Mr. Puneet Gupta, Managing Director & Vice President, NetApp India remarks, “I am excited to see the government’s focus on technology sector, as a whole. The incentives towards creating digital infrastructure, education, and skilling, spell out the intent on developing the country’s human capital. The emphasis of digitised skilling will help make our country's youth future-ready. Additionally, the announcement on RBI introducing digital currency and the government providing infrastructure status to data centers, will help create a framework for emerging technologies making the digital India Inc better and stronger.”

Sunil Sharma, managing director – sales, Sophos India & SAARC says, "The Union Budget 2022 presented by the Government of India is built on the foundation of introducing new technologies across sectors. From education to finance, logistics, and healthcare, the bedrock of change will be driven by tech.  The government has further proposed the introduction of the digital rupee. While this will definitely enhance efficiency and promote growth, increased digital penetration also brings with it additional cyber risks that one should be vary of. As a step towards mitigating cyberattacks, the government plans to set up broadband in villages as well as the Digital DESH e-portal. This will help equip youth with the right skills, including cybersecurity skill sets, needed to operate safely in today’s tech-driven world.”

Dhruvil Sanghvi, Founder & Chief Executive Officer, LogiNext says, "We welcome the move by the Government of India to boost logistics as a means towards ensuring economic growth. The proposal to set up a Unified Logistics Interface Platform is a welcome move. Leveraging technology to complement the development of infrastructure will help bring in better efficiency. Furthermore, with real-time tracking, and inventory management as a part of the platform, this will go a long way in bringing India at par with global supply chain networks. LogiNext has always been an advocate for digitisation of supply chains, and it is reassuring to see the Government work towards this. The decision taken to extend the tax incentives provided to startups till March 31, 2023 is a reflection of the Government’s commitment towards ease of doing business in India.”

Kunal Nagarkatti, CEO, Clover Infotech remarks saying that the government’s focus on creating a strong digital ecosystem to enhance banking and financial inclusion is a step in the right direction. Bringing all post office banks under the core banking ambit will enable seamlessness in digital payments and online transfer of funds and accelerate financial inclusion. The setting up of the Digital DESH e-portal for skilling initiatives is the need of the hour as it will bridge the gap between the supply and demand for digitally skilled and technically strong resources.

Niraj Hutheesing, Founder and Managing Director, Cygnet Infotech says, “The advancement in enhanced transparency of payments is a huge stride forward for India in terms of fintech innovation. The proposed end-to-end online e-Bill system will enable increased productivity for industries that go completely paperless. This will prove to be extremely fruitful for digitization. Furthermore, the acknowledgement that India's GST collection stands at Rs.1.4 lakh crore for the month of January 2022, exemplifies the growing need for digital taxation solutions that promise to take the Indian economy to the next level.”

Commenting on the Union Budget announcements, Toshendra Sharma, Founder and CEO, NFTically says, “The budget paves a way for digital savvy India, impacting betterment and quality of life and ease of doing business. The Budget 2022 brings super positive news for the Web3.0 Startup ecosystem in India and brings a long term direction. Blockchain Innovations companies have exposure to Cryptocurrencies and this decision by the Government of India will help such core tech innovation to flourish without any fear. The Indian Government legitimatised crypto assets in India in an indirect way by coming out to tax the same. This is a strong step taken to boost a digital economy.

DigitalRupee is a historical decision by the visionary GoI. This will give a boost to the economy and create increased digital financial participation among the youth. India's digital currency will bring about an efficient, credible, payments option. It will also reduce dependency on cash, and increase cheaper currency management system in the long run.

Abhishek Rungta, Founder and CEO, INT. on the union Budget 2022 says, "The thrust provided to digital assets in form of giving green signal to crypto currency is a much-needed welcome step. With a flourishing fintech ecosystem, this openness to digital currency will help optimize and fasten the mass scale leverage of digital infrastructure. The B2B sector is expected to be among first movers to include digital currency-based transactions for businesses. From demand perspective, we believe that the country’s push towards digital-led framework for all key aspects, will result in increased opportunities for IT services from domestic market."

TKM Records Wholesales Of 7328 Units During January 2022

 

* Achieves cumulative sales of over one lakh units of Toyota Glanza and Urban Cruiser           

Toyota Kirloskar Motor (TKM) today announced that the company sold a total of 7328 units in January 2022. The company had sold a total of 11,126 units in domestic wholesales in the corresponding period last year. TKM also launched the new Camry Hybrid last month which has received a very encouraging response from customers. Moreover, the company achieved yet another significant milestone last month, with the Toyota Glanza and the Urban Cruiser together clocking cumulative wholesales of over one lakh units, and have helped TKM tap 66% first time buyers especially in the tier II & III markets.

Commenting on the month’s performance, Mr. Atul Sood, Associate Vice President, Sales and Strategic Marketing, TKM, said, “We started the new year with the launch of the new Camry Hybrid. Being the only locally manufactured strong, self-charging hybrid electric vehicle in India, the Camry Hybrid has created a niche for itself and has received very encouraging customer orders this past month. The Toyota Vellfire too, that defines sustainable luxury & indulgence for Indian customers, continues to garner healthy orders.

Last month also witnessed a very important milestone in terms of the Toyota Glanza and Urban Cruiser clocking cumulative wholesales of over one lakh units. Ever since its launch, the Glanza and the Urban Cruiser have helped TKM garner young-millennial customers who are not only seeking exceptional automobile ownership experience, but also the best balance of economically viable options. Lastly, both the Innova and the Fortuner continue to peak interest, as both the models have robust customer orders and this has increased our order pipeline significantly”, he concluded.

Applaud Budget 2022 For Bringing In Considerable Focus On Clean Eating And Sustainable Farming

Post the Budget 2022 announcement, please find below a quote from my client, Shriya Naheta Wadhwa, Founder of Zama Organics on the Budget's focus on organic farming and a sustainable future for agriculture and the food-delivery ecosystem. 

He said, "We applaud Budget 2022 for bringing in a considerable focus on clean eating and sustainable farming with impactful steps announced in this direction. Incentives to farmers, MSMEs to adopt natural farming will encourage increasing numbers of stakeholders to look at entering organic farming space as a highly lucrative opportunity, giving a much-needed boost to the ecosystem in distress. The decision to involve education and training in organic farm practices is a step in the direction to set a strong foundation, with more talent right from entrepreneurs to farmers coming with advanced knowledge to further elevate the existing system. An applause-worthy step among the many positive decisions is Fund to be facilitated through NABARD to smoothen financing of startups in the ecosystem to beat agrarian distress is a great promise which will help reduce uncertainty for startups and attract sophisticated tech-based competencies. Additionally, focusing on warehousing and transportation to help the faster movement of supplies will aid in supplying fresh produce and uplift the larger goal of organic farming. A multi-fold approach was much anticipated and as players, in the ecosystem, the future looks promising"

YES Bank Appoints Lavesh Sardana To Head Its Retail Assets And Debt Management Businesses

YES Bank announced the appointment of Lavesh Sardana as Country Head for its Retail Assets and Debt Management operations. The appointment is in line with the Bank’s objective of further strengthening its retail franchise.

With 27 years of expertise in consumer finance, Lavesh will be spearheading the Bank’s Consumer Assets business in the current role. His leadership experience will help sharpen the focus of the Bank’s retail assets business, through both distribution channels and digital origination. In addition, he will also mentor the collections and co-lending units, critical to the Bank’s retail assets businesses.

In his last assignment at HDFC Bank, he was head of the unsecured loans, two-wheeler loans, dealer financing and securitization businesses. Over his 21-year stint there, he has handled responsibilities for multiple functions (sales and product) across retail and commercial assets verticals. Lavesh has also been associated with GE Countrywide Consumer Finance Limited and IBM India in various roles, prior to joining HDFC Bank.

A graduate from University of Delhi, he also holds a postgraduate diploma in management.

About YES Bank

YES Bank is a 'Full Service Commercial 'Bank' providing a complete range of products, services and technology driven digital offerings, catering to Retail, MSME as well as corporate clients.

YES Bank operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES, a wholly owned subsidiary of the Bank. Headquartered in Mumbai, it has a pan-India presence including an IBU at GIFT City, and a Representative Office in Abu Dhabi.

For more information, visit the Bank's website at http://www.yesbank.in/.  

Sify Technologies Recognized As ‘NICHE PLAYER’ In The 2021 Gartner Magic Quadrant For Managed Network Services

* Recognized for Completeness of Vision and Ability to Execute

Sify Technologies Limited (NASDAQ: SIFY), India’s leading Digital ICT solutions provider with global service capabilities spanning Data Center, Cloud, Networks, Security and Digital services, was recently recognized as a ‘Niche Player’ in the 2021 Gartner Magic Quadrant for Managed Network Services. The evaluation was made based on specific criteria that analyzed the company’s overall completeness of vision and ability to execute.

Garter’s Magic Quadrant reports are a culmination of rigorous, fact-based research in specific markets, providing a wide-angle view of the relative positions of the providers in markets where growth is high and provider differentiation is distinct. Providers are positioned into four quadrants: Leaders, Challengers, Visionaries and Niche Players. The research enables one to get the most from market analysis in alignment with their unique business and technology needs.

According to Gartner research, “By 2024, 30% of enterprise buyers will demand managed network services (MNS) that include near-real-time case management synchronization with enterprise-operated IT service management (ITSM) tools and more than 60% of software-defined, wide-area network (SD-WAN) customers will have implemented a secure access service edge (SASE) architecture.”

As an integrated digital transformation partner with cloud@core portfolio of services, Sify can help enterprises to derive value by transforming their network with a suite of managed network solutions and services that include a world class Service delivery platform (SDP), Service management functions, Operations automation, Customer experience management, Professional services and transformative technologies such as SD-WAN and Secure Access Service Edge (SASE).

Commenting on the recognition, Kamal Nath, CEO, Sify Technologies said, “This stands testimony to our world class managed network services capability. Sify’s deep and proven expertise in managing customers’ mission critical networks at scale, is a preferred choice for enterprises looking to meet their network transformational goals. We are also building competencies in emerging tech to future-proof our customers’ networks and enhance outcomes through application of AI/ML”.

Gartner, Magic Quadrant for Managed Network Services, 10 November 2021, Ted Corbett, Danellie Young

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

GARTNER and Magic Quadrant are registered trademarks and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.

About Sify Technologies

A Fortune India 500 company, Sify Technologies is India’s most comprehensive ICT service & solution provider. With Cloud at the core of our solutions portfolio, Sify is focussed on the changing ICT requirements of the emerging Digital economy and the resultant demands from large, mid and small-sized businesses. 

Sify’s infrastructure comprising state-of-the-art Data Centers, the largest MPLS network, partnership with global technology majors and deep expertise in business transformation solutions modelled on the cloud, make it the first choice of start-ups, SMEs and even large Enterprises on the verge of a revamp.

More than 10000 businesses across multiple verticals have taken advantage of our unassailable trinity of Data Centers, Networks and Security services and conduct their business seamlessly from more than 1600 cities in India. Internationally, Sify has presence across North America, the United Kingdom and Singapore.

Sify, www.sify.com, Sify Technologies and www.sifytechnologies.com are registered trademarks of Sify Technologies Limited. 

Polytrade Announces The Launch Of Its Mainnet To Provide Working Capital To SMEs Using Crypto Liquidity

 

* Committed to fulfilling the unmet demands of Rs.2,200 crore of working capital for SMEs in India

* Financed more than Rs. 3,700 crore worth of invoices since 2014

* One of the biggest players at the global level to harness crypto liquidity and finance SMEs

Polytrade finance, a DeFi lending platform providing working capital to Small and Medium Enterprises (SMEs) in the real-world using crypto liquidity has announced the launch of its much-awaited Mainnet. The launch of the Polytrade mainnet is a significant step in history as it would harness huge liquidity in the crypto world to directly support small businesses across the globe, making a real-world use of the digital currency. 

Polytrade was founded by IIT-Bombay graduate, Piyush Gupta in 2014 to support small businesses by providing working capital to those who were struggling for finances for a myriad of reasons including a lack of understanding around some trade finance instruments, lack of collaterals, high cost of borrowing, and exhaustion of credit limits.

As per the industry data, the unmet demands of working capital for SMEs in India attunes to more than Rs. 2,200 crore. The launch of Polytrade Mainnet has opened up a supplementary source of financing for these SMEs by creating a blockchain-based decentralized protocol. Since the starting of its operations, Polytrade has successfully managed to finance over Rs. 3,700 crore worth of invoices since 2014 and the launch of Mainnet will further spur the availability of finances to the SMEs.

Mr. Piyush Gupta, MD & Founder, Polytrade, “We are extremely happy to announce the launch of our mainnet that will provide working capital to SMEs. Our vision is to ensure that the small businesses that have been struggling to get the required finance never face such a shortage.”  He also adds, “India's SMEs will be key to achieving Prime Minister Narendra Modi's objective of making the country Atmanirbhar and a $ 5 trillion economy. Polytrade will ensure that these small enterprises have the working cash to achieve their goals.”

Polytrade’s global ambition

Notably, India is first amongst the emerging market where Polytrade is aggressively expanding its businesses. In the near future, it intends to expand to other growing economies including Latin America. Polytrade is also partnering with major distribution companies in the specific region to expand its reach

About Polytrade

Polytrade is a blockchain-based decentralized protocol aiming to transform receivables financing connecting buyers, sellers, insurers, and investors for a seamless experience. It brings safe and insurance-backed real-world assets to the crypto world. Polytrade will provide real-world borrowers access to low interest and swift financing to free up critical working capital tapped from crypto lenders. While the project will start with a focus on trade finance, eventually, it would evolve into a full-stack lending protocol for small businesses.

Debates On Ethics And Aesthetics Commence At MAHE Winter School

“Indian arts and literature are the experiences of very different philosophical positions influenced by different religious traditions”, said Prof H S Shivaprakash, eminent scholar and Sahitya Akademi award winner, in his keynote address to the week-long Winter School on ‘Ethics and Aesthetics’ organised by Manipal Centre for European Studies (MCES) - Jean Monnet Centre of Excellence and the Department of Philosophy (DoP), Manipal Academy of Higher Education (MAHE).

In his address When the World is ‘Out of Joint’ Program Director Prof H S Shivaprakash, discussed the conflict between theoretically opposing ethical systems due to constant societal transitions. He also emphasized how works of art have reflected this antagonism throughout times. Such is the conflict between a value system based on kinship and one based on varnashrama dharma discussed in Bhagavad Gita or the conflict between ancestral values and progressive Western values reflected in the literature of the colonial period. The current disrupted state of affairs caused by the pandemic is not dissimilar in the way different values are once again posed against each other.

Speaking on the occasion Lt Gen Dr M D Venkatesh, Vice Chancellor of MAHE, stressed the significance of collaboration and a contemporary outlook in research. He said, “as the new National Education Policy envisages, the rich legacies of Indian literature and philosophy to the world heritage must not only be nurtured and preserved but also researched, enhanced and put to new uses through our education system. Therefore, it is time for all Indian universities to collaboratively engage in research in these fields with a focus on contemporary relevance”. 

In her address, Prof Neeta Inamdar, Head of Manipal Centre for European Studies highlighted the importance of a multidisciplinary approach which is at the heart of all the activities organised by MCES. She noted, “When MCES was established in 2009 the foresight was to take it beyond the traditional idea of area studies and build it as a multidisciplinary centre and create a space for dialogue between the East and the West”. The Centre has stayed true to this vision.

Highlighting the importance of organising a Winter School on ‘Ethics and Aesthetics’, Dr Srinivasa K N Acharya, Assistant Professor and Coordinator at Department of Philosophy (DoP), remarked: “There is not a single discipline that does not concern either ethics or aesthetics in its theory or application. Such is the position of these two critical thoughts that are very fundamental to humanity and our thinking. Though ethics and aesthetics are considered to be philosophical branches along with epistemology and ontology, they play a foundational role in language and literary studies as well.”

The Winter School, convened by Richa Gupta, Project Manager for the Jean Monet Centre of Excellence at MCES, MAHE and Tanima Nigam, Lecturer at DoP, MAHE, is the third in a series of educational events jointly organised by the two departments. Scholars, authors and students from across disciplines will meet in interactive online sessions from January 31 to February 4, 2022, to explore ideas of Indian ethics and aesthetics drawing upon a range of subjects including art and morality, classical and indigenous traditions, comparative frameworks of critique, aesthetics of visual culture and premodern and postmodern literature.