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<ul><li>Now, it is looking to add 1,000 more to its current 4,500 employees in India.</li><li><keyword id="6357940" type="DEFINITION" weightage="20" keywordseo="paypal">PayPal</keyword> had earlier said that it would no longer offer domestic services within India, and would focus only on Indian businesses that are going global.</li><li>The company had said that in 2020 it processed $1.4 billion worth of international sales for over 360,000 merchants in India.</li></ul>Global payments giant PayPal is ramping up its team in India. The company plans to hire 1,000 engineers in 2021, across its India Development Centers across Bangalore, Chennai, and Hyderabad. PayPal had <a href="https://www.businessinsider.in/tech/news/paypal-to-focus-on-indian-businesses-wanting-to-go-global-as-it-winds-down-operations-from-april-1/articleshow/80699809.cms">earlier said</a> that it would no longer offer domestic services within India, and would focus only on Indian businesses that are looking to go global. Now, it is looking to add 1,000 more to its current 4,500 employees in India. The US-based payment company, co-founded by Peter Thiel, is <keyword id="6357342" type="UNKNOWN" weightage="20" keywordseo="Hiring">hiring</keyword> for roles across software, product development, data science, risk analytics and business analytics streams at entry, mid-level, and senior roles. It would also be heading for campus hirings. “Our India Technology Centers are the largest for PayPal outside of the U.S. and play a pivotal role in enabling us to constantly innovate and remain ahead of the curve. As digital payments move from a nice to have to an essential service, we are focused on investing in and nurturing world class technology talent to continue to offer products and services that meet the needs of our growing base of consumers and merchants,” said Guru Bhat, a vice president at PayPal India in a statement. For PayPal, India remains an important market. The company had said that in 2020 it processed $1.4 billion worth of international sales for over 360,000 merchants in India. Globally, PayPal had reported a revenue of $6.12 billion from the fourth quarter of 2020. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/india-largest-insurer-lic-is-inviting-bids-from-payment-aggregators/articleshow/81304375.cms">EXCLUSIVE: India's largest insurer LIC is inviting bids from payment aggregators⁠</a> <a href="https://www.businessinsider.in/india/news/spicejet-partners-with-wheeltug-for-electric-taxi-system-as-the-airline-targets-lower-fuel-costs/articleshow/81307104.cms">SpiceJet partners with WheelTug for electric taxi system, as the airline targets lower fuel costs</a> <a href="https://www.businessinsider.in/business/news/indian-companies-stand-to-lose-7-14-lakh-crore-to-climate-change-but-they-could-end-up-making-2-9-lakh-crore-too/articleshow/81306789.cms">Indian companies stand to lose ₹7.14 lakh crore to climate change — but they could end up making ₹2.9 lakh crore too</a>

PayPal, which had shut down domestic operations in India, now plans to hire 1,000 engineers

<a href="http://businessinsider.com/digital-industry-insider"></div></div></div>Map out one million flight plans each year for Southwest Airlines. Everything from planeloads of chilly Chicagoans heading for vacations in Cancun to budget-minded businesspeople dashing from Los Angeles to New York. It's difficult. Now try toting up the countless variables on each one of those flights, such as the air's humidity and the fuel load on each leg, in hopes of accurately calculating their impact on the bottom line.It's a task that was once impossible. But now, thanks to the Industrial Internet - a digital network that connects machines like jet engines to software and the data cloud - and a slew of new GE technologies, that's changing.Seeking new insight into what's happening during every flight, Southwest just became the first U.S. domestics airline to use a big data system developed by GE's Flight Efficiency Services (FES) unit. The system runs on the secure Industrial Internet, using cloud computing and cutting-edge software and analytics. Southwest, which manages a fleet of nearly 700 Boeing 737s, can use its flight analytics to drill down to each individual plane and flight to discover how decisions on each flight may have altered its profitability. Australia's Qantas also just announced it would start using the system and join existing international customers EVA Air, AirAsia, Swiss International Airlines, Zhejiang Loong Air, and SpiceJet."For the first time ever, the airline can look at what they planned to do and what actually happened," says John Gough, executive engagement leader at GE Aviation Digital Solutions. "This is something that airlines have historically not been able to do because of the vast amount of data involved." GE's technology will gather all the data generated by Southwest's flights, Gough says, and combine it with the airline's operational and planning data, including details about fuel, passenger and cargo loads, information about the weather and navigational data.In the U.S. Southwest has pursued this concept for years. GE Aviation's Digital Solutions business already provides the company with Flight Operational Quality Assurance analytics, a system that captures and analyzes the data generated by an aircraft while it flies from one point to another.The new technology reaches much further. The tool, which is powered by Predix, GE's cloud-based industrial software platform, starts with collecting data generated by each Southwest aircraft: wind speeds, ambient temperatures, weight of the plane, maximum thrust and so on. GE applies proprietary techniques and historic intelligence to analyze the data. The Southwest team can then pore over the resulting aircraft performance analytics to find patterns that previously might have been hard to detect. The ultimate goal: transform a torrent of raw data about individual flights into actionable insights that optimize airline operations.Flight analytics could help Southwest decide whether it should add or subtract flights to some of its routes. But it also aims to identify smaller, subtler improvements. If data shows that planes on a particular route consistently carry too much fuel, reducing fuel loads will not only cut costs, it could allow Southwest to consider selling additional tickets to passengers or taking on more cargo. Reduced costs and increased revenue - those are the lifeblood of any airline."This is not just about saving costs but also potentially growing revenues," Gough says. "Now an airline can understand the cost drivers on each phase of a flight - taxi, takeoff, climb, cruise, descent, approach, landing, and taxi back to the gate. Previously they did not have insight into all that."For years, Gough says, airline planning was an inexact science because there were too many variables, from the altitude actually flown because of unexpected wind conditions to outside air pressure, speed and weather. Even the weight of otherwise identical aircraft can vary by as much as 2,000 pounds because of each plane's maintenance history, Gough says. Now real-time data from hundreds of aircraft, coupled with data on everything from weather to navigation, allows airlines to plan more precisely. Gough likened it to medical imaging advances."Now airlines can be very surgical in nature," Gough says. "It's like the difference between an X-ray and an MRI. We are providing an MRI to an airline's operations, whereas before they at best had an X-ray."The system will also help Southwest identify ways to save fuel. In 2014 airlines wasted <a href="http://airlines.org/data/per-minute-cost-of-delays-to-u-s-airlines/" target="_blank">$4.3 billion of fuel</a> while planes idled on the tarmac. GE estimates that a 1 percent reduction in jet fuel use could save the global commercial aviation industry $30 billion over 15 years.For example, an Austin-to-New York flight might plan to cruise at 33,000 feet. But because of turbulence, pilots might decide to move down to 29,000 feet. Now the system will specify how much extra fuel will be burned and what that will cost, giving the pilots more information to make a tactical decision.With airline profit margins often at just 2 percent of operating expenses, being fuel-efficient is critical. Unlike cars, ships and other, less lofty means of transportation, planes can't tap alternative energy sources like natural gas and electricity. Fuel amounts to more than <a href="http://airlines.org/data/a4a-quarterly-passenger-airline-cost-index-u-s-passenger-airlines/" target="_blank">20 percent of the average airline's operating expenses</a> and is the fastest-rising cost facing airlines, up an incredible 130 percent over the past 15 years. Using GE's FES, a pilot can make optimized decisions about flight plans and fuel load. The system can also help fine-tune internal policies, such as measuring whether pilots are following instructions to reduce gas-guzzling takeoff thrust at 1,500 feet.Gough says using FES to manage fuel can reduce annual fuel costs by as much as 2 percent. For example, in 2014, <a href="http://investors.southwest.com/" target="_blank">Southwest spent $5.27 billion to buy fuel</a>, meaning the FES system could identify potential fuel-cost savings of up to $105 million each year.Think about all that the next time you're stuck on the tarmac waiting for a gate.This article first appeared on <a href="http://www.gereports.com/" target="_blank">GE Reports</a> and was provided by GE. </body></html>Find out <a href="http://www.businessinsider.com/sponsor-posts">more about Sponsor Content</a>.

How big data and the Industrial Internet can help Southwest save $100 million on fuel

The spectacular debut of <a href="http://www.businessinsider.in/searchresult.cms?query=indigo">IndiGo</a> , India's biggest airline by market share, on the bourses on Tuesday, not only reflected investor’s confidence in India’s potential as one of the world's fastest growing aviation markets but a possible resurgence of the primary market after a prolonged lull. This was despite a premium valuation at around $4 billion (it is twice as valued compared with the combined valuation of peers Jet Airways and SpiceJet). 
 
For a perspective, InterGlobe Aviation Ltd, which runs the carrier, raised $453.52 million last month through its initial public offering, which was the largest IPO since telecom tower firm Bharti Infratel Ltd raised $750 million in December 2012. 
 
IndiGo’s blockbuster market entry is a sharp contrast to the debut of Coffee Day Enterprises Ltd (that runs India’s largest cafe chain Cafe Coffee Day) as it struggled to sail through and revive hopes that the <a href="http://www.businessinsider.in/searchresult.cms?query=ipo+market">IPO market</a> in India is finally turning around. 
 
Last two years have been a dismal period for the primary market in the country, reflecting the lack of momentum that prevailed across the broader market prior to the Narendra Modi-led Indian government assumed power. 
 
The lacklustre history of the IPOs, launched in the last decade and underperformed, also proved to be a dampener for investors who have already been skeptical about the slow pace of structural reforms that are needed to revive market sentiments. 
 
Complex listing rules also pulled back companies from tapping the primary market to raise funds—till recently the IPO market was governed by archaic rules that have existed for decades. 
 In addition, companies, especially those in the booming technology sector, have been exploring alternative sources of finance. For example, while e-commerce major <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> raised more than $1billion from Private Equity investors over the last one year, its close competitor <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> raised close to $1billion. Ola, India’s leading taxi-hailing app, which raised roughly $650 million from Private Investors recently, is another example of next-generation technology-driven startups that are tapping the PE source of funding for growth. 
 
However, the prospects of the IPO market seem to be changing. More than a dozen companies have filed draft papers with markets regulator <a href="http://www.sebi.com/">SEBI</a> for public offers since the new government took charge at the Centre in May 2014. Besides, many companies, which scrapped their IPO plans earlier due to bad market conditions, have been keen to make another attempt to enter the capital markets. 
 
These translated in to a modest uptick in IPOs during 2015, after two years when the primary markets were almost dead. Though the money raised through IPOs this year is small compared with $8 billion raised in 2010, the last time Indian primary markets really took off. But, it is believed to be a trigger for more sizable IPOs going ahead. 
 
The renewed confidence of investors, especially FIIs, after the <a href="http://www.businessinsider.in/searchresult.cms?query=Modi">Modi</a> government took over contributed to the revival of the secondary market—where investors trade previously issued securities—which peaked over a year since BJP came to power and thus provided fodder for an uptick of the primary market as well. 
 
Of course, the markets are seeing a correction—bench market indices BSE Sensex and Nifty lost more than 10% over two months—driven by the slower growth numbers reported by China. 
 
However, India’s long-term story remains intact as it can turn China’s pain into its gain as an alternative investment destination for large FIIs. 
India continues to be among the most favoured by emerging market investors given the country's strengthening macro fundamentals. Though concerns over the economy as well as cultural tolerance have risen recently, they haven't hampered investor sentiment significantly. 
 
Also, as indicated by the government’s move on Tuesday to further relax FDI norms in over 15 sectors, including defence, realty and broadcasting, the policy initiative to bring in structural reforms is still well on track. Therefore, the chances of a continued revival of the primary market are bright. 
 
The IPO activity is expected to gain more momentum driven by the enhanced need for the companies to go beyond the Private Equity route to raise capital for growth and expansion. Many companies and investors are also turning to the IPO route as a preferred option for generating liquidity. 
 
The renewed interest in IPOs is also driven by private-equity backed firms which are capitalising on the positive market sentiment to provide an exit for their investors. 
 
According to Dealogic, Indian companies have raised around $1.03 billion via IPOs so far this year, well above the $282 million for all of last year and $295 million in 2013. More companies in sectors such as banking and financial services, technology, logistics and pharma are expected to tap primary markets in the near future. 
 
While size of the IPOs raised in India remain relatively small compared with those seen in the US or other Asian financial capitals such as Hong Kong and Tokyo, the uptick in the primary market proves that activity seen by the secondary markets after May 2014 is not just an aberration and strengthens India’s status as a preferred investment destination amid shades of gloom elsewhere, including China. 
 
(Image: Thinkstock)

The primary Indian market is gaining momentum and it is not an aberration. Here’s why

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