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<ul><li><keyword id="7706628" type="General" weightage="20" keywordseo="Defence-Minister-Rajnath-Singh" source="Orion">Defence Minister Rajnath Singh</keyword> on Saturday said the government is working and committed to increasing the <keyword id="15812191" type="General" weightage="20" keywordseo="defence-production-target" source="Orion">defence production target</keyword> from the current $12 billion to $22 billion by 2025.</li><li>The government is also working to provide market access to the domestic industry to make them Aatmanirbhar.</li><li>Defence Minister said, India has moved from the group of 'fragile 5' economies to 'fabulous 5 world economies' in the last nine years and registered itself as one of the fastest growing economies.</li></ul>Defence Minister Rajnath Singh on Saturday said the government is working and committed to increasing the defence production target from current $12 billion to $22 billion by 2025. "You (industry) can imagine, with this kind of growth, how many opportunities will be available for the Indian industry," the Defence Minister said while addressing <keyword id="15812194" type="General" weightage="20" keywordseo="FICCIs-95th-Annual-Convention" source="Orion">FICCI's 95th Annual Convention</keyword> &amp; AGM here. He further underlined that to increase the participation of domestic industry, the government has reserved a certain portion of defence capital acquisition for domestic procurement. "Out of the total defence capital budget outlay, 68 per cent of it is reserved for indigenous procurement by domestic industry and 25 per cent for the private sector. The results of these have now started appearing and more measures will be announced soon," he emphasised. The government, he said, is also working to provide market access to the domestic industry to make them Aatmanirbhar. Singh said that in the last few years, there has been a continuous increase in defence exports. The government has already taken a series of steps including simplifying the FDI norms which have been increased to 74 per cent via automatic route and 100 per cent via government route, he added. The Defence Minister also urged the domestic industry and foreign Original Equipment Manufacturers to invest in Indian defence sector by focusing on R&amp;D, bringing in newer technologies and capital. He added that India is making defence products not just for the domestic market but also to meet the global requirements. "The world is waiting for the products made in India," he claimed. India has moved from the group of 'fragile 5' economies to 'fabulous 5 world economies' in the last nine years and registered itself as one of the fastest growing economies, the Defence Minister said on the occasion. Sanjiv Mehta, President, FICCI, thanked the government for ushering in reforms in the process of defence acquisition and facilitating ease of doing business through the revision of the DPP 2016 as DAP 2020 and assured Industry's unstinted support for achieving the goal of 'Aatmanirbhar Raksha Utpadhan'. Subhrakant Panda, President-Elect, FICCI said that the government's focus on 'Make In India' and 'Make for the World' is an impressive strategic move towards shedding its historical status of one the largest importer of defence equipment to a net exporter. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/gst-council-meet-decriminalisation-tax-evasion-in-pan-masala-gutkha-biz-on-agenda/articleshow/96297108.cms">GST Council meet: decriminalisation, tax evasion in pan masala, gutkha biz on agenda</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/ukraines-2nd-largest-city-without-power-after-russian-strikes/articleshow/96294790.cms">Ukraine's 2nd largest city without power after Russian strikes</a>

Govt committed to achieving defence production target of $22 bn by 2025: Rajnath

<ul class="summary-list"><li>The <keyword id="11965128" type="UNKNOWN" weightage="60" keywordseo="naacp" source="Orion">NAACP</keyword>'s annual convention is taking place in Atlantic City this weekend.</li><li>White House officials, including Labor Sec. Marty Walsh and HUD Sec. Marcia Fudge, will attend.</li></ul>The NAACP's <a href="https://naacp.org/convention">annual convention</a> begins Sunday — and you can expect to see many elected officials coming out to Atlantic City to chat about a number of hot-button issues.The week-long event kicks off under the theme "This is Power," which, according to the organization, is centered on organizing and strategizing for the midterms with the ultimate goal of getting people out to vote. An NAACP spokesperson told Insider that prominent elected officials who are planning to attend the convention include Vice President Kamala Harris, Labor Secretary Marty Walsh, Housing and Urban Development Secretary Marcia Fudge, Assistant Attorney General at the Department of Justice Kristen Clarke, and Democratic Reps. Ro Khanna and Cory Booker."In the past two years, our nation – and the Black community in particular – has been faced with increasingly alarming crises, from rampant white supremacy to rising <keyword id="11896049" type="UNKNOWN" weightage="60" keywordseo="student-debt" source="Orion">student debt</keyword> to increased voter suppression to the total degradation of <keyword id="11901426" type="UNKNOWN" weightage="60" keywordseo="abortion" source="Orion">abortion</keyword> rights," Derrick Johnson, President of the NAACP, said in a statement."The foundation of our democracy is in crisis and we need to identify a path forward that allows for Black communities to thrive," he added. "The 113th National Convention is a critical moment for our community to come together and discuss how we can combat the growing threats to our fundamental rights and values and build Black power."According to the spokesperson, the main issues the convention will focus on are:<ul><li>Student debt</li><li><keyword id="11940459" type="UNKNOWN" weightage="60" keywordseo="voting-rights" source="Orion">Voting rights</keyword></li><li>Abortion rights</li><li><keyword id="12055598" type="UNKNOWN" weightage="60" keywordseo="police-accountability" source="Orion">Police accountability</keyword></li></ul>The issues the NAACP is choosing to highlight likely won't come as a surprise — with the recent <a href="https://www.insider.com/what-happens-if-roe-v-wade-is-overturned-2022-5">overturning</a> of Roe v. Wade and <a href="https://apnews.com/article/police-shootings-texas-education-violence-498de6bad0bb869bb28a2eca5998db90">questions</a> surrounding police accountability following mass shootings, the political climate is contentious, and advocates are hoping that if Americans want change, they will go to the polls to express their discontent. As Insider's Grace Panetta also previously <a href="https://www.businessinsider.com/why-democrats-cant-pass-bidens-agenda-2022-7">reported</a>, voting rights legislation remains stalled in Congress. While Democrats had proposed two bills on the issue, neither gained support from Republican lawmakers. Sens. Krysten Sinema of Arizona and Joe Manchin of West Virginia — two moderate Democrats — are against reforming the filibuster, leaving expansive voting rights legislation on the backburner for now.When it comes to student debt, millions of voters are waiting for President Joe Biden's announcement of relief. He is reportedly <a href="https://www.businessinsider.com/biden-announcing-cancel-10000-student-loan-debt-150000-income-cap-2022-5">considering</a> $10,000 in loan forgiveness for borrowers making under $150,000 a year, but with student-loan payments set to resume after August 31, the clock is ticking for a final announcement. It's an issue that disproportionately impacts Black borrowers. Senate Majority Leader Chuck Schumer and NAACP's Johnson <a href="https://www.businessinsider.com/student-debt-crisis-entirely-unsustainable-black-borrowers-chuck-schumer-naacp-2022-2">wrote</a> an <a href="https://www.bet.com/article/l1uwr8/chuck-schumer-derrick-johnson-call-on-joe-biden-to-cancel-student-loan-debt?cid=BETNews__TW+___6430014416&amp;linkId=154284268">opinion piece</a> in Black Entertainment Television (BET) in March, in which they noted how Black borrowers are more likely to take out student loans to begin with than their white counterparts, and while the median white borrower will owe just 6% of their student debt 20 years after entering college, the median Black borrower will still owe 95% of their debt over the same period.Fudge, who will be in attendance at the convention, has also commented on the uneven burden of student debt on communities of color — and the need for reform."Who has student debt? Poor people, Black people, brown people," Fudge <a href="https://www.businessinsider.com/student-loan-debt-black-homeownership-housing-hud-secretary-marcia-fudge-2021-6">told</a> Axios last year. "We're the people who carry most debt. And so the system's already skewed toward us not being creditworthy."

Student debt, voting rights, and abortion: The 3 'alarming crises' White House officials will be asked to address at the NAACP's annual convention

India has decided to stop import of 2,851 components used in <keyword id="12836550" type="General" weightage="20" keywordseo="defence-equipment-manufacturing" source="Orion">defence equipment manufacturing</keyword> with the expectation of saving foreign exchange worth approximately Rs 3,000 crore every year. The defence ministry on Wednesday notified a positive indigenisation list of sub-systems, assemblies, sub-assemblies and components to achieve self-reliance in defence and minimise imports by Defence Public Sector Units. The positive indigenisation list has been notified by the Department of Defence Production, Ministry of Defence, as part of the efforts to achieve self-reliance in defence manufacturing and minimise imports, the ministry said. The list contains 2,500 imported items which have already been indigenised and 351 imported items which will be indigenised in the next three years. These items will only be procured from the Indian Industry. "This Aatmanirbhar (Self-Reliant) initiative will save foreign exchange approximately equivalent to Rs 3,000 crore every year," said the Defence ministry. Earlier, two positive indigenisation lists of weapons, platforms, systems and ammunition were notified by the Department of Military Affairs in order to provide impetus to self-reliance in the defence manufacturing. Earlier, this month Defence Minister Rajnath Singh underscoring the importance of achieving Aatmanirbhart' (Self-Reliant India) in defence said that India cannot depend on other countries for defence technologies due to its stature, its geographical location as well as the security challenges it faces. Rajnath Singh was addressing the 94th Annual General Meeting of Federation of Indian Chambers of Commerce and Industry (FICCI), on the theme 'India Beyond 75' in New Delhi. He had voiced the government's vision to make India a global defence manufacturing hub in the coming times, stressing that the focus is to modernise the Armed Forces and create a strong and Aatmanirbhar defence industry which can help in safeguarding the country from conventional and non-conventional, present and future security threats. He had said: "For the security of India and its people, it is necessary that we develop our defence capacity and capability so that even the most powerful country in the world has to think a thousand times before planning anything that endangers our interests. Our government's aim is not to attack anyone, but prepare our Armed Forces to be ready at all times to give a befitting reply to the country's enemies." SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/urban-company-ola-uber-are-not-the-best-places-for-gig-workers/articleshow/88561764.cms" data-type="tilCustomLink">Urban Company is not the best place for gig workers anymore and Ola, Uber are the worst</a> <a href="https://www.businessinsider.in/business/startups/news/nykaa-zomato-paytm-oyo-and-policybazaar-made-their-employees-millionaires/slidelist/88552831.cms" data-type="tilCustomLink">19 people who became millionaires by working for Indian tech startups</a> <a href="https://www.businessinsider.in/business/startups/news/teachmint-has-acquired-3-startups-airlearn-teachmore-and-teachee-this-month/articleshow/88560790.cms" data-type="tilCustomLink">EXCLUSIVE | Teachmint has completed its third acquisition this month and it’s all part of its international play</a>

India is expecting to save ₹3000 crore in foreign exchange by stopping import of defence equipment components

<ul class="summary-list"><li>Rob Biederman commutes between Boston and New York City up to three times a week via seaplane. </li><li>He pays $2,995 for an annual <a href="https://www.flytailwind.com/" target="_blank" rel="noopener">Tailwind Air</a> membership, which unlocks access to $295 one-way fares.</li></ul>This as-told-to essay is based on interviews with Rob Biederman, a Managing Partner at the venture capital firm Asymmetric and co-founder of Catalant Technologies. The following has been edited for length and clarity.I've been using <a href="https://www.flytailwind.com/" target="_blank" rel="noopener">Tailwind Air</a>, a seaplane shuttle service, to commute between Boston and New York for almost two years now. I live in Boston and go back and forth between the two cities a tremendous amount, sometimes as many as two or three times a week. I run a venture capital firm with offices in both Boston and New York. I also help teach a class at Harvard Business School, and I'm still chairman of a company I founded that's based in Boston. The challenge is when you don't have full schedule control — I might wake up in Boston on Monday, have to come down for dinner in New York on Tuesday, then have something in Boston on Wednesday. The reality of traveling between those two cities is that you essentially have four choices: you have driving, bus, train, and commercial flying, which all have pretty specific drawbacks. If you go between Boston and New York once a month or once a quarter it doesn't really matter, but when you're going back and forth multiple times a week, it really puts a lot of stress on how convenient and pleasant the trip is.<h2>It's the most efficient and productive way to commute between the two cities</h2><div type="image" title="A Tailwind Air Cessna Caravan — Tailwind Air Seaplane Demo Flight 2021" height="1725" width="2300" msid="99619006" hostid="261" sizebytes="284322"></div>I think Tailwind really helped solve the challenge with the bus, train, and driving, which is that they all take a really long time.Tailwind is most relevant for people who need to go back and forth between Boston and New York in a single day. If you have a bunch of stuff you have to do on both sides, but you take the bus or train or drive or fly with a traditional airline, it just eats up a lot of your day. With Tailwind, I can have a full business day minus 90 minutes. I'm usually on calls right up to the departure time of my flight and I'm picking another one up the minute we land. I totally get why people take the train, I just don't know that I have the attention span to be sitting on the train for three and a half hours. It's my belief that the train is actually quite overrated for productivity because they make so many announcements between New York and Boston, even on the quiet car. Plus, the WiFi service can be unreliable. <h2>It's much less stressful than flying with a mainline carrier</h2><div type="image" title="Duke the dog" height="2268" width="3023" msid="99619007" hostid="261" sizebytes="277190"></div>I typically book Tailwind flights a week out. The Boston seaport is only a 10 minute walk from my apartment and I get there one or two minutes before take-off since you don't have to go through security.During the Winter, when Tailwind doesn't run, I fly Delta or United. Going to any airport in New York is a pain (I think Logan is a fantastic airport and is super convenient). But on the New York City side, whether you're going to or coming from Laguardia or JFK, it's quite annoying. The Tailwind departure point in New York is on 23rd street and I stay in an apartment on 30th, so it's a quick shot across the city.The Tailwind flight is maybe 60-65 minutes in the air, whereas the commercial flights are around 45 minutes. But if you think about what makes this trip stressful, Delta and United are great airlines, but there's a lot of things that are kind of out of their control like security and timing. So I'm happy to trade an extra 15-18 minutes in the air in exchange for not going through all the hullabaloo on both sides. For Tailwind, if you're scheduled to be dropped off at Boston Harbor or 23rd Street at a certain time, that time is pretty reliable. Door-to-door, the trip typically takes 90 to 95 minutes. Another benefit is you don't have to pay for an Uber or a cab on either side. You can walk right on and off, which is great from a health and sustainability perspective. It also lets me travel with my dog, Duke. With Tailwind, it's just so easy to have him along. They love having dogs on board and he took to it pretty quickly. It's not an easy thing getting a dog onto a seaplane, particularly in Boston when we're out in the dock in the middle of the water. But when you take off on the river, It's not choppy at all. It's pretty exciting. It's like being on a boat and it suddenly becomes a plane. <h2>If you fly frequently, the cost difference isn't that huge compared to commercial </h2><div type="image" title="Flying on a Tailwind Air Cessna Caravan — Tailwind Air Seaplane Demo Flight 2021" height="1875" width="2500" msid="99619008" hostid="261" sizebytes="420984"></div>I use Tailwind's <a href="https://www.flytailwind.com/commuter-books/?wpf_filter_cat_0=52">Fast Lane membership</a>, which costs $2,995 a year and gives you access to reduced fares. Obviously, it's not inexpensive. And so I think my hope is that over time, they scale their volume and reduce prices to make it an option that makes more sense economically for a larger group of people. If you do Fast Lane, and you're not getting an Uber or cab on either side, I don't think the cost difference is all that huge compared to flying commercial. Anytime you have to book a commercial flight one or two days before, it gets pretty expensive — I've seen United flights go for $400 or $500. And then you have to account for transportation to and from the airport. <h2>The customer service experience is seamless </h2>One thing that makes Tailwind so attractive is their customer service. When there's inclement weather or you have to change your flight, their team is incredible. You call their number and you talk to a real person that helps solve your problem. I think with a lot of the traditional mainline carriers that's a more complicated story. One time, we left a package behind in New York and we were already in Boston, so we called and they said if somebody brings it to the dock, they'll make sure it gets on the plane to the other side. They're super flexible. That kind of personalized customer service is hard for a mainline carrier to pull off when they're processing millions of passengers a week. <h2>For the long-term, it's not a sustainable commute </h2><div type="image" title="A Tailwind Air Cessna Caravan — Tailwind Air Seaplane Demo Flight 2021" height="1666" width="2223" msid="99619011" hostid="261" sizebytes="95986"></div>It's not very sustainable to commute this frequently between two different cities. I would certainly love to have a more conventional life that 99% of Americans have where it occurs in a single city. I think it's my goal within a year or two to really settle down in one place. I think if you want to be performing at the highest level professionally, you want to minimize distractions. The reality is moving back and forth between two cities creates a tremendous amount of excess mental load. The reality of business is that a lot of business is face-to-face, so there's always going to be a role for traveling to important meetings. But I wonder if, over time, people will potentially realize that a lot of the time spent moving around day to day is actually not very valuable. <h2>I think short-hop travel will look totally different in 50 years</h2><div type="image" title="Flying on a Tailwind Air Cessna Caravan — Tailwind Air Seaplane Demo Flight 2021" height="1666" width="2222" msid="99619012" hostid="261" sizebytes="155514"></div>I think in 50 years short-hop transportation between cities like New York and Boston will look totally different than it does today. For commercial jets, there's a lot of overhead for moving 50 or 100 people between New York and Boston. I think over the long term, the right solution is probably ultra high-speed rail. It's only around 215 miles — Japan and France have trains that go 200 miles an hour. There's no reason why New York to Boston shouldn't be a one-hour train commute, except for the fact that they have grade crossings all throughout the Northeast. In the short term, if you have to move this set of atoms from this zip code to that zip code, Tailwind is certainly the best alternative until high-speed rail is a possibility, which I think is going to be a long time.

I commute between Boston and New York City up to three times a week on a seaplane. Here's why it beats taking the train or flying commercial.

New Delhi, Dec 21 () States are not in favour of increasing GST rates at a time when there is a consumption slowdown and it is not the right time to bring down the number of slabs under the Goods and Services Tax (GST), Sushil Kumar Modi, Deputy Chief Minister of Bihar and Convenor of Group of Ministers on IGST, said on Saturday.
There is no possibility of any change in the Goods and Services Tax (GST) rates till the revenue stabilises, Modi said while speaking on the theme 'India: Roadmap to a USD 5 trillion economy' at FICCI's 92nd Annual Convention here.
"I want to assure you that not a single state... (and) the union government is ready to raise the tax rates," he said.
"At a time when the economy is in a slowdown, if you cannot cut the tax rate to boost consumption, do not increase the rates too. At these times you cut the duties and tax rates, and not increase them," Modi said.
On the chances of any reduction in GST rates, he said, "Till the time GST revenue does not stabilise, we cannot think of decreasing the tax rates. In fact, there is no possibility of any change in slabs and tax rates, hike or cut, in the near future."
There have been a shortfall in GST revenue collections against the projections. It crossed the Rs 1 lakh crore mark after a gap of three months in November with the revenue growing by 6 per cent to Rs 1.03 lakh crore during the month.
The collection was Rs 95,380 crore in October.
Modi also informed that now onwards the GST Council has decided to consider any change in tax rates only once in a year and rather than doing so in each and every meeting.
The latest meeting of the GST Council took place earlier this week, where the government fixed a uniform tax rate of 28 per cent on both state and private lotteries, which is to come to effect from March 2020.
In the previous various meetings of the GST Council, the government cut the rates on various services and goods, amidst GST collections remaining below expectations, with an aim to boost demand.
He also said that the time is not right to bring down the number of slabs under GST from the current five (0, 5, 12, 18 and 28 per cents) to 3 slabs.
Modi, who was the Finance Minister of Bihar when value-added tax (VAT) was administered in the country, said he is closely watching the execution of GST and enriching the process with learnings from eight different countries.
Compared to the pre-GST period, 99 per cent of the goods and services have less taxes levied on them post-GST, he said. 
Fake invoicing has become a major issue and the government is looking for ways to check the menace, Modi said. KPM MKJ

No possibility of any change in GST slabs, rates until revenue stabilises: Sushil Modi

<ul><li><keyword id="236136" type="ENTERTAINMENT" weightage="20" keywordseo="Radio-City">Radio city</keyword> has reported revenues of ₹87.02 crore in H1 2018-19 along with a CAGR of 34%, while <keyword id="9734" type="COMPANY" weightage="20" keywordseo="Radio-Mirchi">Radio Mirchi</keyword> has reported a 36% YoY growth. </li><li>The radio industry is growing with ad spends also increasing. </li><li>Experts believe that the industry is not threatened by other popular platforms like Netflix, Amazon Prime and instead complements their growth. </li></ul>If numbers are to be believed, the <keyword id="7328670" type="UNKNOWN" weightage="20" keywordseo="Indian-radio-industry">indian radio industry</keyword> is far from dying a low-key death. Leading radio stations have reported a great year with revenue hikes and expect higher momentum in the coming years. Music Broadcast Limited, which hosts Radio City, has reported revenues of ₹87.02 crore in the first half of the financial year, along with a CAGR of 34%, while Motilal Oswal has reported that Entertainment Network India Limited, which hosts Radio Mirchi has reported a 36% YoY growth. “In the last 3 years our revenue CAGR has been 15% which is almost double than that of the industry. H1 was expected to be subdued due to lingering impact of GST and demonetization, but we are delighted to witness an upsurge in H2. We have delivered a margin of 33% despite investments in our new stations. As the economy recovers, we expect to keep up the momentum in the future too,” said Apurva Purohit, President Jagran Group &amp; Director, Music Broadcast Ltd. Most experts believe that 2017 was a bad year because of multiple reasons – effects of demonetization, real estate law, RERA, and the introduction of the Goods and Services Tax (GST). After a subdued 2017, where the radio industry grew at only 3%; in 2018 the industry at large grew at 9.5%. “Most of these effects reduced in 2018, but media continues to remain under pressure. The print and OOH business have faced more pressure. Radio and TV have done better,” said Prashant Panday, MD &amp; CEO, Entertainment Network India Limited (ENIL). Staying alive Despite the increasing popularity of OTT platforms, like Netflix, Amazon Prime and Hotstar, which is consuming a large part of the Indian consumers time, radio has managed to stay alive. Global giant Spotify too is all set to launch in India which could become a big hit with millennials because of its popularity abroad. As per a 2018 KPMG report, radio garnered 7.9% growth in ad revenues in FY 17-18. According to a <a href="http://businessfortnight.com/music-broadcast-runs-radio-city-eyes-acquisitions-kolkata-mp/">FICCI report</a>, the industry is expected to grow at a compounded annual growth rate of 16.1% between 2016 and 2021 and is projected to be a Rs.4780 crore industry by 2021. The industry believes that radio has transitioned from being a medium that is under threat of other rising media but instead is a part of the latter’s growth journey. “We believe radio as a medium, complements television where it improves the efficiency of a TV plan because of the cost effective reach it adds; and is also complementary to new age digital plans where radio can be used as an awareness building medium to direct traffic towards PVs and clicks on digital,” said Purohit. Advertising from radio too is a market that can’t be ignored. Global media network GroupM in its report – This Year, Next Year 2019 – stated that India is predicted to be the 10th fastest growing country on ad spends across the globe – where radio is headed to grow by 15%. “When the economy slows down, or major advertisers face stress, they turn more towards consumer offers, and hence towards radio. Radio makes print and TV work harder. Radio is the last medium consumed before a consumer enters a store, so it helps increase footfalls. In cars, 80% of all cars are tuned into radio,” said Panday. Mirchi in just Mumbai and Delhi, has a weekly listenership of 7 million people. See Also: <a href="https://www.businessinsider.in/netflix-and-hotstar-hedge-their-bets-against-government-regulation-through-self-censorship/articleshow/67573187.cms">After Amazon Prime, Netflix and Hotstar plan to go down the path of self-censorship in India</a> <a href="https://www.businessinsider.in/heres-why-ott-platforms-were-a-big-hit-among-indians-in-2018/articleshow/67286083.cms">Here's why OTT platforms were a big hit among Indians in 2018</a> <a href="https://www.businessinsider.in/using-your-friends-netflix-account-theres-some-bad-news-for-you/articleshow/67467204.cms">Using your friend’s Netflix account? There’s some bad news for you</a>

Video did not kill the Indian radio star – not yet

The government is planning to award 100 highway projects on PPP next year, Union Minister <keyword id="26680" type="PERSON" weightage="100" keywordseo="Nitin-gadkari">Nitin Gadkari</keyword> said today. 

	Asking investors to change their perception about public-private-partnership (PPP), the Road Transport and Highways Minister said all problems pertaining to the mode have been addressed and this year seven projects worth Rs 11,500 crore have already been awarded in contrast to a nil last year.
 "The government will award 100 projects on PPP mode next year. Under the hybrid model, we will give you on platter projects with land acquisition and <keyword id="6356826" type="COMPANY" weightage="100" keywordseo="environment">environment</keyword> clearances. 40 per cent cost will be borne by us while 60 per cent will be funded by you. Of the 60 per cent, banks will provide 30 per cent of the requirement," Gadkari said at India PPP summit by FICCI. 

	He said investors need not worry at all and just "change their perception about PPP" as in the present hybrid model even the toll collection will be done by the government adding PPP has received good response this year.
 

	The Minister said the government was planning to float tenders for about 18 projects by December.
 

	He said 95 per cent problems pertaining to PPP projects have been addressed and of the 283 projects, 44 were terminated.
 

	About Delhi-Jaipur Highway, he said the Rs 1,700 crore project will be completed by December as 85 per cent of the long-delayed project is completed while problems related to Delhi-Haridwar and Ranchi-Jamshedpur highways were being addressed.
 

	He said highways ministry has no dearth of funds but was lacking on two fronts - shortage of contractors and capacity constraints.
 Expressing commitment to transform highways network, he said Prime Minister <keyword id="6354477" type="PERSON" weightage="100" keywordseo="Narendra-Modi">Narendra Modi</keyword> will do "bhoomi pujan" for access-controlled Rs 7,000 crore eastern highway project to decongest Delhi soon while Delhi-Meerut highway will be developed as a green expressway with 14 lanes on NH-24. 

	The national highways length would be increased to 1.5 lakh km from 1 lakh km at present as it does not match up to the 10 per cent annual growth in vehicles, he said.
 

	He added that apart from Buddha circuit, 1000 km of highways will be constructed to link 'char dhams'. Besides, one per cent of the highways construction cost will be set aside for plantation along the roads, which in turn would generate five lakh employment. He added that government also plans to build a number of expressways including Delhi-Mumbai, Mumbai-Nagpur, Delhi-Ludhiana and Bengaluru-Chennai.
 

	The Minister said both shipping and highways would contribute at least 2 per cent to the country's GDP.
 

	Also, he added that all the 12 major ports and SCI, DCI and Cochin Shipyard would post a profit of around Rs 6,000 crore this year.
 Gadkari said three new ports would be built in <keyword id="20154" type="ORGANIZATION" weightage="100" keywordseo="tamil-nadu">Tamil Nadu</keyword>, <keyword id="6357783" type="CITY" weightage="100" keywordseo="West-Bengal">West Bengal</keyword> and Maharashtra. 

	He said 1,200 roadside amenities will be built besides 5,000 driving centres across the country to check corruption. 
 

	NHAI and builders would now solve their disputes amicably instead of going to courts as the PMO also is of the view to solve them through talks, he said. 
 

	Road Transport and Highways Secretary Vijay Chhibber said the PPP mode picked up last year after going through a rough patch for three years and this year, the government will award road projects totalling 10,000 km and complete 6,500 km, he said. 
 

	Last year, the government awarded projects totalling 8,000 km and completed 4,000 km. 
 

	Of the 1 trillion investment in infrastructure as per the 12th Five Year Plan, one-tenth ($95 billion) will go to road sector and private players will contribute about 50 per cent of it, he said. 
 

	Chhibber said the government had taken a number of initiatives to address the issues including rescheduling of premium, easy exit policy, one-time fund infusion and 20 amendments in concessionaires agreements. 
 

	Also, the government is considering compensation to developers in case the delays in projects were attributable to authorities. 
 

	He also said that a Rs 6 cess on diesel and petrol was contributing Rs 50,000 crore to the sector annually. 
 

	He said the government is considering monetisation of highways and of the 6,000 km under EPC, 200-300 km will be monetised this year.

	 
	 
	(Image credits: Indiatimes)

100 highway projects on PPP on its way next year: Nitin Gadkari

Lily Lawrence/Stringer/Getty ImagesPure Barre.<ul class="summary-list"><li>The ballet-inspired workout craze founded by dancer Carrie Rezabek Dorr began offering franchise opportunities in 2009.</li><li>Today, there are over 550 <a href="https://www.businessinsider.com/category/pure-barre">Pure Barre</a> studios in the United States and Canada servicing some 550,000 clients, with 95% of franchises owned by women.</li><li>Two successful multiple-franchise owners say that it can be hard work, but worth it to make your passion your business and help build a community.</li><li>In order to make a serious profit, they suggest leaning on other franchise owners for support and hiring a stellar team to run the show, as well as tracking key performance metrics and leveraging social media marketing.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories.</a></li></ul>Founded in 2001 by dancer, choreographer, and fitness guru Carrie Rezabek Dorr, ballet-inspired studio workout <a href="https://www.purebarre.com/">Pure Barre</a> has grown into the second-largest boutique-fitness concept in North America. Since launching its franchise opportunity in 2009, the company now boasts more than 550 studios with 550,000 clients across the US and Canada. According to the company, membership sales have increased by an average of 75% year over year, and since 2015, Pure Barre has seen 25% client growth and 35% revenue growth.Many franchise owners started as Pure Barre devotees before taking the plunge to buy into Pure Barre, which was <a href="https://www.franchising.com/news/20181026_pure_barre_joins_xponential_fitness_portfolio_of_e.html">acquired by</a> boutique workout franchise brand Xponential Fitness in 2018. Business Insider spoke to two owners of multiple Pure Barre studios to understand how they spun a love of dance-oriented fitness into successful businesses - and along the way have created strong and supportive communities.<h1>Make sure you know where your finances stand and have a plan for finding real estate</h1>Massachusetts native and 35-year-old Liz Roberts had always wanted to own her own business. A graduate of Babson College with a BA in entrepreneurship, she worked in finance before having her first child. After that, she decided that she wanted to be her own boss. "It only took one Pure Barre class for me to realize that this workout technique didn't exist where I lived and that I needed to open it as soon as possible. Five years and three kids later, I am currently opening my ninth studio," Roberts said.Roberts opened her first studio in Northampton, Massachusetts, in 2015. First-time franchisees go through a highly selective <a href="https://franchise.purebarre.com/faq/">application process</a> that includes a liquidity test proving assets greater than $90,000 and a minimum net worth of $300,000. After the first franchise the application is expedited, however, franchisees still need to meet financial liquidity requirements.Liz RobertsLiz Roberts.The initial start-up cost ranges from $198,650 to $446,250, which includes the franchise fee, furniture and fixtures package, and pre-opening instructor training. On top of that, there is the real-estate cost of leasing or purchasing a site. Once the business is up and running, Pure Barre takes 7% of gross sales as a royalty fee, while marketing is a further 1%."Even though we had a business plan that we provided to Pure Barre when we bought the franchise, as a new business it's hard to get loan. We used all [of] our savings, opened a lot of 0% credit cards to get us through the first 18 months, and then borrowed from my inlaws," Roberts said. It takes around three to five months from signing a franchise agreement to opening the studio doors, but there's a lot of hard work in between. Roberts said that the most time-consuming part was working with real estate agents to find a suitable location that was available at the time and obtaining build-out quotes to make the space into a functioning studio."But after all of that, cash is king is the key [to] understanding your business. When you're starting out, you have to be prepared to pay yourself last," she explained. "It took three months before I could pay myself, even though my first studio was profitable from the first month."<h1>Lean on other franchise owners for support</h1>Roberts said that having connections with other franchise owners like herself has been one of the best things about her work. Some 95% of Pure Barre franchisees are women led, and 27% own multiple units. "I'm good friends with a number of other Pure Barre franchise owners, and I really appreciate having a team of entrepreneurs I can tap into for advice, guidance, or simply friendship," she said, adding that she tends to meet fellow franchisees at Pure Barre's annual convention or regional meetings. "Say for example I have a client with a unique complaint - they're the ones I go to for advice on how to handle it, and vice versa," she explained. "We also talk a lot about employee issues, such as how to drive people to do their best work and make it a win-win arrangement, or the best way to restructure compensation in a way that is mutually beneficial to their goals and the studio needs."Roberts also noted that because franchises are in different areas, they are not usually in direct competition and therefore you're able to share marketing tips rather than having to generate ideas on your own.<h1>Find the right people to join your team and empower them with constant feedback</h1>Roberts said that one of the best pieces of advice she ever received was to "hire slow and fire fast." Roberts also said that hiring is the hardest part of running her business. She mostly uses LinkedIn, Facebook, and Instagram as well as advertising to their existing client base to find applicants. In terms of ongoing staff management, she proactively discusses employee performance with her studio managers. "We discuss who on our team are adders, subtractors, multipliers, or dividers. Having this categorization and [these] discussions help me mentally prepare for who I need to grow, maintain, develop, or let go," she said.Roberts has found that it is critical that employees feel that they also have a say and ownership in the studio. "I say to managers, 'This is your studio, give me feedback and your opinions.' It's not my way or the highway, and they are happier - that translates into a positive culture in the studio."Roberts added that since as a company they are promoting strength, confidence, and community, maintaining a positive culture has been crucial."I don't tolerate any negativity," she explained. "There are over 100 women who work for us, and our motto from day one has been that gossip doesn't exist in the workplace."<h1>Track key metrics to anticipate problems before they arise</h1>With her eight studios in Massachusetts and Connecticut (and one more studio on the way), Roberts' company is one of the larger Pure Barre franchises. "Our family of studios vary in revenue, community, and size. Each month, we average over $25,000 per studio in barre class revenue and over $4,000 in retail sales in our fitness boutique," she said. "We are on track to have around 160,000 visits to our eight studios for this year. We will offer around 15,000 classes to service over 1,600 members, in addition to clients that are single users and visitors."Roberts said that she remains highly engaged with each of her studios, studying numbers through a weekly dashboard that she created. The dashboard highlights key metrics, such as member and class numbers, so that she can be on top of problems before they arise."A key factor I've learned in performance decline is simple attendance numbers. If it is dipping, that is a precursor to membership cancellation," she said. Roberts tries to combat attendance decline by being an immediate presence in the studio to understand the reasons, usually to do with the studio culture, for falling attendances. "Also, managers not meeting their targets is often a precursor to their performance decline - and that's important, because their role is highly influential to the success of a studio," she added. Monthly sales targets are a combination of membership goals, retail sales, and studio revenue. She tracks year-to-year, month-to-month, and week-to-week performance on conversion rates, inventory management, tasks performed, and attendance to effectively monitor and reset targets. <h1>Treat members like family, and learn when to step back and let your team run the show</h1>Husband-and-wife team Casey and Annie Gregersen bought their first Pure Barre franchise in 2016 after Casey joined Annie, a former Miss Montana and Houston Texans cheerleader, for her 100th class and, he said, "had his seat handed to him." Casey and Annie GregersenCasey and Annie Gregersen.Seeing the passion and results up close made the couple agree that it was a great business opportunity. But now, with four studios under their belt, it's more than a business. They believe that being able to consistently bring in new business requires that they "treat each member like they are family." "We take the time to personally meet each new member and find out their fitness goals. We are actively creating a safe space where members can hold each other accountable to those goals in a welcoming community," said Annie.She believes that the most difficult part of becoming a franchise owner has been not taking criticism and bad reviews personally, but at the same time remaining humble. "We are perfectionists at our core, and want to do everything ourselves to make sure that it is done correctly," she said. "But now operating four studios, three children, and Casey's full-time job, we have learned to go with the eb and flow of our studios, and to delegate tasks to our staff while we coach them so that we can grow and learn together."<h1>Consider taking the opportunity to turn around a struggling studio</h1>The Gregersens opened their first studio in Midland, Texas. It grossed almost half a million in revenue in 2018, and as a result they have recently expanded their company to include three "turnaround" studios in San Diego."The first three San Diego studios we purchased averaged around 15 members on EFT (monthly payment) at each studio. Nine months later, we've grown our EFT to 135, 141, [and] 148 respectively," the couple told Business Insider."Turnaround" opportunities are financial incentives offered by Xponential Fitness to existing successful Pure Barre franchise owners to help transform a struggling studio. Xponential Fitness said in a statement to Business Insider that it cannot disclose the specific financial arrangements it makes with different owners. But there are still healthy returns to be had for startup studios under the Pure Barre model."We are consistently bringing in 20 or more new clients each month across all of our studios," Annie said.<h1>Utilize social media and other marketing and sales tactics to drive new business</h1>When it comes to turning around studios, the Gregersons said that the secret to their success has been focusing on marketing and sales."Historically, the front-end employees were just running a check-in, but now they are much more sales focused and trained. We have learned to be constantly evolving, and a big part of that is managing the sales process," Casey said.Their targets are to convert 50% of leads to booking a class and 50% of people who attend a class to buy a membership. To this end, he said that Xponential Fitness has recently rolled out a better automated point-of-sale system to help with the sales process, which includes notes on clients and setting tasks to follow up on people who have been to a class to try to convert them into members. "There is also the new Foundations class for beginners, which is slower and easier to follow. We are finding leads through actively promoting this class on social media, as well as grass-roots events such as setting up a table at a grocery or activewear-chain Lululemon, pop-up classes [in] public settings, and fitness events in San Diego," he added.He believes that Pure Barre teachers are the foundation of the brand's success - so it becomes a matter of bringing in new people to experience those teachers in action."We found that the best way to turn around a studio is to be aggressive with <a href="https://www.facebook.com/783585965012045/posts/2619360574767899?dco_ad_id=23844200437400674">marketing on Facebook</a> and Instagram," he said. "We are spending around $2,000 per month per studio. With these campaigns on top of everything else we are doing, we've doubled our revenue in each studio over the last 12 months."Gregerson said that their most successful social media campaigns use short video clips and photos of their classes that emphasize the local aspect of their franchise. He also strongly recommends trying a number of different digital marketing agencies to find the one that "is big enough to have the capabilities to run strong campaigns, but not too big to lose intimacy when working together."But the most important aspect of running a successful franchise, the owners emphasized? It's simple:"You have to have a passion for Pure Barre," said Casey. <h3>NOW WATCH: <a href="https://www.businessinsider.com/maye-musk-on-raising-successful-children-leveling-up-her-career-2020-1">Elon Musk's mother, supermodel Maye Musk, talks about raising successful children and leveling up her career at every age</a></h3>

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