Apple CEO Tim Cook says betting big on India

NEW YORK: Apple sees a “huge market potential” for its products in India and the technology giant is “really putting energy” in the country which will begin rolling out high-speed wireless networks this year, CEO Tim Cook said.
This is another huge one. India will be the most populous country in the world in 2022. India today has about 50% of their poptim_cook_ceo Appleulation at 25 years of age or younger. It’s a very young country. People really want smartphones there,” Cook said in a CNBC interview.
He said in emerging markets like India, LTE (wireless) penetration is currently “zero” but as LTE begins to roll out this year in the country, the dynamics will change.
And so that’s changing. Huge market potential,” he said in response to a question about the Indian market for Apple.
Cook said the company has got “great innovation” in the pipeline and new iPhones that will attract people in markets like India.
Cook said in countries like India, Apple penetration has been less since there is no LTE networks.
What I see is that countries like India, no LTE, so 0% penetration. They are selling smartphones, and we sell iPhone there. But arguably you can’t get the full value from it,” he said adding that retailers in markets like India are not “huge national kind of retailers.”
And the carriers don’t sell phones in India. So there’s a lot of work to do,” he said.
While sales for Apple in China, its second-largest market after the United States, fell 11% in the latest quarter, in India iPhone sales were up 56% from a year ago.
Noting the growth registered by Apple in India, Cook said “this is pretty big.”
He said Apple is “now…really putting energy in India” as well as in other markets across the world “where I think that people sitting here in this country look at it through just a lens of what’s happening in the United States. And but there are a lot of people in the world who don’t have the pleasure of owning an iPhone yet.

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All you need to know about Salman Khan-Rio Olympics 2016 controversy

 

Salman Khan with Sardar Singh and Mary Kom

Salman Khan was named goodwill ambassador of the Indian contingent for the upcoming Olympic Games in Rio de Janeiro, but this decision has come with subsequent negative and positive reactions.
Speaking on this new association with IOA Salman said, “I am honoured that Indian Olympic Association has chosen me as the goodwill ambassador for the Indian contingent for the Rio 2016 Olympic Games.

 

It is a matter of great national pride that our athletes are performing better and better at the Olympic Games and I think we should all join hands in giving them every support and cheer for them so that Rio 2016 becomes our best Olympic tally.
However, post this announcement there has been outrage from fellow athletes as well as social media. Seeming like unnecessary film promotion for Khan’s upcoming film Sultan, the Indian Olympic Associaton’s decision has not been received well.

Negative Reactions

At the forefront of the criticism of the appointment of Salman Khan as the ambassador are Milkha Singh and Yogeshwar Dutt.
While Milkha Singh said that he has nothing personal against Salman, he would have preferred if a fellow sportsman was picked instead.
I am of the view that our sportspersons — be those from shooting, athletics, volleyball or other sports — are the real ambassadors of India who would represent the country in the Olympics. Still, if we had to pick an ambassador, it could have been from the sporting arena,” the 85-year-old legend.
I want to make it clear that I am not against Salman Khan, but the decision of the IOA is wrong and the Government should intervene in the matter. This is for the first time I am seeing a Bollywood hero being made goodwill ambassador for Olympics. I want to ask, has Bollywood ever made any sportsperson an ambassador for any of their mega events?” he said, adding, “I want that the decision to name Salman Khan as ambassador be revised.
Meanwhile Yogeshwar Dutt, the London Olympics bronze-medallist, said he cannot understand what purpose such an appointment will serve for the athletes.
Everybody has the right to promote movies in India, but Olympics is not a place to promote films,” Yogeshwar tweeted in Hindi. “Can anyone tell me what is the role of goodwill ambassador? Why are you fooling the public?” he added.
The country needs medals, not sponsors,” said Dutt, on twitter.

Baton of MBD Group in hands of Malhotra sisters

The sector of education is so vast that one organisation cannot cover it entirely. Even enormous conglomerates, which are education specific, sometimes lack at some places to sonica.jpgcater what the individual is demanding on the other end. That is why huge corporations look after little bits of it so that the customer can have not only a number of options under single category but also have every possible category’s option to choose from.
With the aim to excel in this field, Ashok Kumar Malhotra established MBD Group post-independence, whose baton has been given passed on to Monica Malhotra and Sonica Malhotra. MBD Group was entirely focused on the education sector in the beginning but with the changing needs of time and more opportunities to explore every region, motivated the founder and his legacy bearers to mark their presence everywhere.
Monica Malhotra Kandhari started her entrepreneurial journey at the very young age of sixteen years. Presently a Senior Director in the MBD Group, she learned her ropes in this very outfit on the shop floor. Having inherited her father’s skills in the publishing industry and she is today poised to take MBD Publishing to greater heights. Under her leadership, MBD Group has ventured globally with the launch its first publishing branch in South Africa (Cape Town). MBD is the only Indian origin publisher to be included in the National catalogue of South Africa. She has also been working towards creating synergies with leading international brands like Microsoft. She has authored award-winning books like “Children’s Picture Dictionary”, “Begin with A”, a unique English alphabet book amongst others.
The Malhotra sisters have also received the prestigious “Trident Award for Young Innovative Entrepreneur of the Year” by The Ludhiana Management Association, a few years back. Monica Malhotra, MBD Group’s Senior Manager was also honoured with “LBF visionary award” in 2009 for her contributions in the field of hospitality.
Apart from the education, MBD Group is a proud service provider in the fields of hospitality, real estate and project design & construction. Radisson Blu Noida, Radisson Blu Ludhiana, MBD Zephyr Bangalore, are few of the marvels that MBD Group has added to its hospitality sector’s crown and catering the needs of people in this sector from a noticeable time period.
The current generation of MBD Group doesn’t believe in better halves like men and women, rather the Malhotra sisters consider both the genders complete within the selves, which motivates them to treat all alike and provide equal opportunities to all, just like they were given and as you can see that there is no question on their management and growth of MBD Group.

Meet Nita Ambani, The First Lady Of Indian Business

Ahead of its wider public rollout of much-awaited 4G phone service, Reliance Jio Infocomm, the telecom arm of oil and gas giant Reliance Industries, held a December soft launch at a sprawling 500-acre corporate campus outside of Mumbai. Soft but big–the company controlled by Mukesh Ambani, India’s richest person, had 37,000 staff on site for the event, and more than 75,000 others from Reliance outposts were present by video link.

neeta AmbaniThe debut took place on the eve of the group’s legendary founder Dhirubhai Ambani’s birth anniversary. With its attendant Bollywood glamour–superstar Shah Rukh Khan, Jio’s brand ambassador, presided as master of ceremonies–the gala was orchestrated by Nita Ambani, the billionaire’s wife, who has been involved with the telecom’s marketing and branding strategy.

In what is a first for any Ambani venture, the 4G service doesn’t deploy the Reliance name in its branding but is simply called Jio, which translates to “Live life” in Hindi. The well-recognized roundel logo of the parent has also been dispensed with. “This is a brave new world for us, so we decided, after much debate, to break away from the old,” explains Nita from Reliance’s headquarters in south Mumbai.

She occupies a desk in an open office that houses Reliance’s sports business, which she also oversees. While Mukesh still works from his father’s old corner room on a higher floor, Nita says she prefers mingling with the crew.

This new open culture was ushered in at the urging of their U.S.-educated twins, Isha and Akash, who work in an open office on Jio’s campus . Isha, who studied at Yale and worked briefly at McKinsey, is involved in marketing with her mother; Akash, an undergrad from Brown, works on the tech side. “I’m enjoying mentoring them,” says Nita.

In a country where billionaire wives tend to remain in the shadow of their husbands, Nita’s rising profile in the Reliance empire is unusual and earns her a debut spot on our Power Business-women ranking this year. Reliance is among India’s most valuable companies, with $57 billion in revenues.

Auto sales

Throughout Friday, automakers will report their sales numbers for March.
Analysts forecast that auto sales rose at an annualized rate of 17.3 million.

Auto sales

This would be down from the pace of 17.54 million recorded last month. And already, some analysts are debating over whether the pace of auto sales has peaked, following the best-ever year recorded in 2015.

According to Bloomberg, Barclays’ Brian Johnson is betting that the seasonally adjusted annual rate of sales has peaked “with an impending decline“. But this could be delayed by the availability of auto credit, and strong consumer spending.

On the bullish side, JPMorgan analysts thinks sales remained strong, and the long Easter weekend was likely a boost for the carmakers.

Manohar Parrikar understands defence sector, but should ensure short proposal process: Punj Lloyd

QUEPEM (GOA): While crediting Defence Minister Manohar Parrikar with understanding the defence industry very well, Ashok Wadhawan, President of Punj Lloyd said that the ministry should ensure that the process of defence proposal is shortened. “Defence Minister Manohar Parrikar needs to look at continuity of the forces who are involved in the procurement process. Today, there is a different person from the forces to look at the request for proposal (RFP) and a different one to look at continuity of the forces who are involved in the procurement process. Today, there is a different person from the forces to look at the request for proposal (RFP) and a different one to look into the trials, which prolongs a deal,” he told Economictimes.com at Defence Expo 2016.artilery

Confident of getting Indian Army’s project to upgrade its ageing Zu 23 2B air defence guns, Wadhawan said,” Replacement of air defence guns is something which we will feel very confident about, as we are the only private sector which has experience in this. So, the process of both upgradation and replacement becomes very easy for us.” Wadhawan said that Punj Lloyd has already been declared as L1 (lowest number 1) in the tender and is in the last stage of signing the contract which is likely to get finalised in the month of April.

What is the size of the export potential Punj Lloyd is eyeing? Wadhawan says, huge. “Once we get clearance to upgrade Zu guns for Government of India, I think our export prospects get better,” says Wadhawan. He also said that the company is looking at exporting components for small arms, which is reason it has signed a joint venture with Israel Weapon Industries. The company will also go ahead with the production of small arms which will be pitched to export as well, he said.

Giving thumbs up to the new defence procurement policy (DPP), Wadhawan said,”The new DPP is very good and forward looking. The Indigenously Designed Developed and Manufactured (IDDM) category under the new policy will be a game changer.

Jewellery stocks glitter as 18-day strike ends

Over 3 lakh jewellers from more than 300 associations kept their establishments closed across the country since March 2.

Jewellery stocks on Monday rose sharply by up to 8 per cent after jewellers called off their 18-day old strike demanding rollback of proposed excise duty on non-silver jewellery.

The 18-day long strike by jewellers is estimated to have caused loss of Rs. 60,000-70,000 crore to the industry

Shares of Shree Ganesh Jewellery House jumped 7.85 per cent, Gitanjali Gems zoomed 6.62 per cent, Tribhovandas Bhimji Zaveri surged 5.56 per cent, PC Jeweller climbed 5.3 per cent and Titan Company rose 2.1 per cent on BSE.

 

Jewellers on Saturday called off their 18-day old strike demanding rollback of proposed excise duty on non-silver jewellery after government assured them that there will be no harassment by excise officials.

Over 3 lakh jewellers from more than 300 associations kept their establishments closed across the country since March 2 after Finance Minister Arun Jaitley in the budget for 2016-17 announced one per cent excise duty on non-silver jewellery.

The 18-day long strike by jewellers is estimated to have caused loss of Rs. 60,000-70,000 crore to the industry.