Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<keyword id="19924335" type="General" weightage="20" keywordseo="tata-group" source="keywords">Tata Group</keyword> is planning to build a huge semiconductor fab plant in <keyword id="19906863" type="General" weightage="20" keywordseo="gujarat" source="keywords">Gujarat</keyword>'s <keyword id="20006005" type="General" weightage="20" keywordseo="dholera" source="keywords">Dholera</keyword>, and it will begin operations in 2024 itself, Chairman N <keyword id="20015665" type="General" weightage="20" keywordseo="chandrasekaran" source="keywords">Chandrasekaran</keyword> said on Wednesday. He said the salt-to-software group is in the final stages of negotiations for the plant. "Tata Group has also made a commitment, and is on the verge of concluding and announcing a huge semiconductor fab in Dholera, and we are about to complete these negotiations and start in 2024," Chandrasekaran said at the 10th <keyword id="19916472" type="General" weightage="100" keywordseo="vibrant-gujarat-global-summit" source="keywords">Vibrant Gujarat Global Summit</keyword> here. The chairman also said the group will begin construction of a 20 gigawatt lithium ion storage battery factory in the state's Sanand city in the next two months. Chandrasekaran said in the recent past, the group has made a "significant commitment" to expand its presence in Sanand, which, he said is becoming a home for all of the group's electric vehicle technology. The expansion in Sanand has been undertaken to meet the growing demand for EVs, he added. Apart from that, the group is also building the C295 defence aircraft in Vadodara initially and will later start manufacturing it at Dholera, Chandrasekaran said. First phase of the Indian Institute of Skills being constructed in partnership with the central and state governments will be launched by March 2024 in the state, he said. "We see Gujarat as a very very important destination, not only for business growth but for the future advanced technology industries that India is looking to grow in," he said. At present, 21 companies from the group are present in the state and employ over 50,000 people, the chairman said, stating that the group has been closely linked to the state because of its founder's hometown being Navsari. He said the "steady and spectacular" progress in Gujarat demonstrates the visionary leadership of Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword>, who started the event two decades ago. Chandrasekaran said the economic benefits which have accrued to the state have also had a tremendous impact on social development. He described Gujarat as a "gateway to the future" because of its strengths.

Vibrant Gujarat Summit: Tata Group to build semiconductor fabrication plant in Dholera

The <keyword id="459514" type="UNKNOWN" weightage="20" keywordseo="Vibrant-Gujarat-Global-Summit">Vibrant Gujarat Global Summit</keyword>, which is scheduled to be held in January 2017, is going to highlight '<keyword id="3653902" type="UNKNOWN" weightage="20" keywordseo="Make-in-Gujarat">Make in Gujarat</keyword>' and lure investors, ditching any possibility to political stir. As the state goes to polls next year, the biennial investors' summit will present the state as an ‘engine of India's incredible growth story under <keyword id="6354814" type="UNKNOWN" weightage="20" keywordseo="prime-minister-Narendra-Modi">Prime Minister Narendra Modi</keyword>’. 
 Preparations have already begun for the summit, which will be held January 10-13. <keyword id="6435171" type="COMPANY" weightage="20" keywordseo="bureaucrats">Bureaucrats</keyword> from <keyword id="6354766" type="COMPANY" weightage="20" keywordseo="Gujarat">Gujarat</keyword> are already going around the world, meeting investors in 23 countries to attract investment in aerospace, defense, petrochemicals and food processing under a more liberal FDI policy announced this year. The summit is also likely to have an interactive session of investors with <keyword id="6354642" type="PERSON" weightage="20" keywordseo="Modi">Modi</keyword>. 
 "The business policy announced in May, offering several incentives such as capital subsidy, interest subsidy, <keyword id="771283" type="UNKNOWN" weightage="20" keywordseo="VAT-reimbursement">VAT reimbursement</keyword>, freight subsidy and power tariff incentive, is expected to attract potential investors," a senior official, who did not wish to be identified, told ET. 
 
The summit will cover seminars regarding ease of doing business, public-private partnership in infrastructure and urban development, international development finance, innovation, startups and entrepreneurship, and smart villages. 
 It will also have a Nobel laureates' me in which more than 10 <keyword id="52659" type="ORGANIZATION" weightage="20" keywordseo="nobel-prize">Nobel Prize</keyword> winners from science are expected to participate. A fashion show on khadi and handlooms will be part of the event too. 
 
As per the officials, the delegates touring the world will be bringing the recent policy interventions of the NDA government and state government in Gujarat into the light. 
 "Our roadshows in both India and Canada have evoked a lot of interest among investors. They are keen to come to India. This will create opportunities for our youth," said <keyword id="2256559" type="PERSON" weightage="20" keywordseo="Bharat-Lal">Bharat Lal</keyword>, Gujarat government's Delhi-based resident commissioner. "The focus this time is not just on attracting the best investment but also bringing good technology to India," <keyword id="193875" type="PERSON" weightage="20" keywordseo="Vijay-Rupani">Vijay Rupani</keyword> told ET. 
 
According to officials, bureaucrats that are on the tour to find sponsors, have met head of several fortune 500 companies till now. New areas like waste management, pension funds and energy are attracting the investors. 
 
"The 'Make in India' initiative has seen a large number of small industrial units come up, and under this Gujarat has received close to Rs 85,132 crore of investment under 'Make in India'. Gujarat is next only to Maharashtra in the number of IEMs (industrial entrepreneurial memorandums) and next only to Karnataka in the amount of investment," an official told ET. 
 
Another official said that 100% FDI is permissible in the chemicals sector in India and manufacturing of most chemical products is de-licensed in Gujarat. "This is helping us attract a lot of companies in the chemicals and petrochemicals sector," he said. 
 
"Gujarat has received 22 licences out of 121 for defence equipment manufacturing in the past 18 months - the highest in India. Also, the country's first aviation park is to come up in Gujarat to serve as a one-stop destination for aerospace," he further added. 
 
(image: indiainsider)

BJP to focus on ‘Make in Gujarat’ during mega Vibrant Gujarat Summit
with one eye on polls.

<keyword id="6406658" type="UNKNOWN" weightage="20" keywordseo="Vibrant-Gujarat">Vibrant Gujarat</keyword>, the biennial business meet in <keyword id="6354766" type="COMPANY" weightage="100" keywordseo="Gujarat">Gujarat</keyword> has been labelled as the ‘<keyword id="100810" type="COMPANY" weightage="20" keywordseo="Davos">Davos</keyword> of the East’ by the world’s major investors. Under the leadership of <keyword id="6354642" type="PERSON" weightage="100" keywordseo="Modi">Modi</keyword>, during his Chief Ministership, Gujarat has evolved as an investors’ delight. During 2003, when most states of India were riding the IT wave and struggling to find profitability, Modi was calling investors from all over the world and briefing them about ease of doing business in India’s west coast. And he actually did it. 
 Cut to 2017. The 8th edition of Vibrant Gujarat is taking place under a Chief Minister who is just a little more than five months into his job. The erstwhile Chief Minister <keyword id="4057401" type="UNKNOWN" weightage="20" keywordseo="anandbehen-patel">Anandbehen Patel</keyword> had failed in her job to appease Dalits, create more jobs and keep <keyword id="14666" type="ORGANIZATION" weightage="20" keywordseo="BJP">BJP</keyword> president <keyword id="6355521" type="PERSON" weightage="20" keywordseo="Amit-Shah">Amit Shah</keyword> convinced. As Gujarat’s ‘economic expressway’ (as they prefer calling the event) seems to zoom off, you can hear echoing whispers among a few industrialists at the event, how much of the proposed promises have actually been implemented. Gujarat, which topped the World Bank’s ‘Ease of Doing Business’ in India has now lost it to <keyword id="37102" type="COMPANY" weightage="20" keywordseo="Andhra-Pradesh">Andhra Pradesh</keyword> and Telengana. 
 
Experts believe, as Modi has become the Prime Minister, there have been instances of social unrest and political instability that came to the fore. And as the last business summit before the election is underway, investors’ minds are getting impacted. 
 
This edition of Vibrant Gujarat has seen MoUs touch Rs 20 lakh crores. The amount is likely to cross Rs 30 lakh croremark today, according to The Times of India. Among the sectors where companies expressed their intent to invest defence and aerospace, mining and minerals, chemicals, steel, urban infrastructure, petroleum and petrochemicals, renewable energy, automotive, electronics and information technology are noteworthy. 
 While the state government of Gujarat said that conversion rate is clocked at 70%, the opposition party <keyword id="1575" type="ORGANIZATION" weightage="20" keywordseo="Congress">Congress</keyword> claimed the actual to be pegged at not more than 10%. However top business conglomerates <keyword id="4057400" type="UNKNOWN" weightage="20" keywordseo="reliance-and-adani-group">Reliance and Adani Group</keyword> said that they have fulfilled their promises. 
 To believe Gujarat’<keyword id="4057399" type="UNKNOWN" weightage="20" keywordseo="s-directorate-of-economics-and-statistics">s Directorate of Economics and Statistics</keyword>, about 8% have been implemented out of Rs 40 trillion proposed investments. Citing the Socio-Economic Review of Gujarat for 2015-16, The Mint had reported that 57% proposals made between 2003 and last year have been commissioned or implemented. 
 While Gujarat ranked fifth, Maharashtra that doesn’t organize any such summit has attracted the most FDIs, almost 30% of India’s total between 2002-2016, according to <keyword id="29740" type="CITY" weightage="20" keywordseo="Bloomberg">Bloomberg</keyword>. The same media report said, Gujarat is no longer the easiest place to do business any more. 
 However, Modi’s brain child Vibrant Gujarat has seen several other states including <keyword id="6357783" type="CITY" weightage="20" keywordseo="West-Bengal">West Bengal</keyword> and <keyword id="6355588" type="ORGANIZATION" weightage="20" keywordseo="Rajasthan">Rajasthan</keyword> adapt the same concept and get investments. 
 The social unrest in India’s one of the most opulent states is rising. Only a few weeks back, Conveners of <keyword id="2983086" type="UNKNOWN" weightage="20" keywordseo="Patidar-Anamat-Andolan-Samiti">Patidar Anamat Andolan Samiti</keyword> (<keyword id="6406288" type="UNKNOWN" weightage="20" keywordseo="PaaS">PAAS</keyword>), <keyword id="45661" type="CITY" weightage="20" keywordseo="OBC">OBC</keyword> leaders and dalits have threatened to disrupt the summit, if fixed-pay and contractual employees were not made permanent by the state government. So a state, whose Minister of Industries, Mines and Minerals and <keyword id="25455" type="ORGANIZATION" weightage="20" keywordseo="finance">Finance</keyword> department <keyword id="387325" type="PERSON" weightage="20" keywordseo="Rohit-Patel">Rohit Patel</keyword> boasted of ‘minimum labour unrest’ during his speech seems to be getting distracted. 
 
Not just that. A few months ago, Gujarat has witnessed backlash against jobless economic growth that could jeopardise development and BJP’s coming back t power in 2019, reported Bloomberg. 
 
This season of Vibrant Gujarat seemed to be relying largely on the previous editions of success. Most state ministers thanked Modi immensely for this summit, while avoiding media question of how much implementation has happened. What they offered are figures of investments and not facts about implementation.

Is Vibrant Gujarat losing its sheen
and surviving on the past glory of Modi days in Gujarat?

<keyword id="20196387" type="General" weightage="20" keywordseo="avaada-group" source="keywords">Avaada Group</keyword> on Monday said it has committed investments worth Rs 40,000 crore for development of 6,000 MW hybrid <keyword id="3418615" type="General" weightage="20" keywordseo="wind-solar" source="Orion">wind-solar</keyword> projects in <keyword id="19906863" type="General" weightage="20" keywordseo="gujarat" source="keywords">Gujarat</keyword>. The agreement was signed in the presence of Gujarat Chief Minister Bhupendrabhai Patel on the sidelines of the Vibrant Gujarat Global Summit 2024 on January 10-12 at Gandhinagar, a company statement said. According to the statement, <keyword id="20197400" type="General" weightage="20" keywordseo="avaada" source="keywords">Avaada</keyword> Group has signed a Memorandum of Understanding (MoU) with the <keyword id="6370685" type="General" weightage="20" keywordseo="gujarat-government" source="Orion">Gujarat government</keyword>. This <keyword id="116175" type="General" weightage="20" keywordseo="strategic-alliance" source="Orion">strategic alliance</keyword> aims to set up hybrid wind-solar projects with an aggregate 6,000 MW (6 GW) capacity in the state with an investment of about Rs 40,000 crore. The group's commitment to green initiatives in Gujarat is underscored by substantial investments in the development of a robust renewable energy ecosystem. The <keyword id="6476394" type="General" weightage="20" keywordseo="hybrid-projects" source="Orion">hybrid projects</keyword>, located in various districts of Gujarat, predominantly in the underdeveloped wastelands of Kutch, will supply power to various utilities of India including GUVNL (Gujarat Urja Vikas Nigam Ltd), and for captive use of Avaada's green hydrogen/ammonia projects. These projects will substantially reduce the carbon emissions and dependability of conventional power sources. With an estimated annual generation of 17.5 billion units of green electricity, this will lead to a reduction of approximately 16.3 million tonnes of CO2 equivalent emissions annually, contributing significantly to India's green energy supply and powering nearly 12.6 million households. Moreover, it will generate 1,200 direct and indirect jobs, thereby contributing to local and regional economic development. "This strategic partnership signifies our unwavering commitment to foster a robust, clean energy ecosystem. Besides the signing of the new 6 GW capacity in the state, we already have projects of 2 GW capacity that are operational or at various stages of implementation in the state of Gujarat," Vineet Mittal, Chairperson of Avaada Group, said in the statement. Avaada Group is into production of solar modules, renewable power generation, and the development of large-scale projects for green hydrogen, green methanol, green ammonia, and sustainable aviation fuel.

Avaada Group to invest Rs 40,000 cr to develop 6 GW hybrid renewable projects in Gujarat

<keyword id="181441" type="General" weightage="20" keywordseo="one97-communications" source="Orion">One97 Communications</keyword> Limited (OCL) that owns the brand <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>, India's leading payments and financial services company and the pioneer of QR, soundbox and mobile payments, today announced an investment of Rs100 crore in Gujarat International Finance Tec-City (<keyword id="6424024" type="General" weightage="20" keywordseo="gift-city" source="Orion">GIFT City</keyword>) to build a global financial ecosystem, ahead of the Vibrant Gujarat Global Summit 2024, in Gandhinagar. The company will make the investment over a period of time and will seek requisite approvals for the same. With GIFT city as an ideal innovation hub for cross-border activity, Paytm will use its proven capability to innovate and build new <keyword id="6358815" type="General" weightage="20" keywordseo="tech" source="Orion">tech</keyword> for users across the globe looking to invest in India. As the pioneer of real-time payments and settlements in India, the company will replicate its success to now reduce friction in cross-border remittances with faster and cost-effective solutions, driven by Artificial Intelligence. Leveraging its leadership as a tech innovator, Paytm will also set up a development centre in GIFT City to build the above solutions and provide a technology backbone. This centre will create jobs and house engineers to develop a suite of world-class financial products and services. Vijay Shekhar Sharma, founder and CEO, said, "GIFT City is set to become a global financial hub, further putting India on the world map for innovation. The strategic investment in GIFT City represents a pivotal step towards building an Artificial Intelligence-driven cross-border remittance and payments technology landscape, presenting global opportunities. This will enable us to deliver fast, reliable, and cost-effective remittance solutions, reducing friction, at a global scale. We are excited about GIFT City serving as an exemplary innovation hub for cross-border activities, enabling overseas <keyword id="6359051" type="General" weightage="20" keywordseo="investors" source="Orion">investors</keyword> the flexibility to maintain foreign currency accounts. Furthermore, we intend to leverage this investment to establish a dedicated development center." Paytm is India's leading mobile payments and financial services distribution company. Pioneer of the mobile QR payments revolution in India, Paytm builds technologies that help small businesses with payments and commerce. Paytm's mission is to serve half a billion Indians and bring them to the mainstream economy with the help of technology.

Paytm to invest Rs 100 Crore in GIFT City; plans to offer AI-driven cross border remittance

Billionaire <keyword id="19916798" type="General" weightage="20" keywordseo="mukesh-ambani" source="keywords">Mukesh Ambani</keyword> on Wednesday said his company <keyword id="19936674" type="General" weightage="20" keywordseo="reliance" source="keywords">Reliance</keyword> will set up India's first and world-class carbon fibre facility at <keyword id="20065225" type="General" weightage="20" keywordseo="hazira" source="keywords">Hazira</keyword>. Speaking at the Vibrant <keyword id="19906863" type="General" weightage="20" keywordseo="gujarat" source="keywords">Gujarat</keyword> Summit here, Ambani said Reliance was, is, and will always remain a Gujarati company. "Reliance has invested over USD 150 billion (12 lakh crore) in creating world-class assets and capacities across India in last just 10 years. Of this, more than one third has been invested in Gujarat alone," he said. He said Reliance will contribute to making Gujarat a global leader in green growth. "We will help Gujarat's target to meet half of its energy needs through renewables by 2030." Reliance started building the Dhirubhai Ambani Green Energy Giga Complex over 5,000 acres in Jamnagar. This will generate a large number of green jobs and enable production of green products and materials that will make Gujarat the leading exporter of such goods and the company is ready to roll this out in the second half of 2024 itself, he said. Reliance Jio completed the fastest roll-out of 5G infrastructure anywhere in the world. For India's bid for 2036 Olympics, Reliance and Reliance Foundation will join forces with several other partners in Gujarat to improve the education, sports and skills infrastructure that will nurture the champions of tomorrow in various Olympics sports, he said. "No power on earth can stop India from becoming a 35 trillion-dollar economy by 2047. And I see Gujarat alone will become a 3-trillion dollar economy by then," he added.

Reliance to set up carbon fibre facility in Gujarat as Ambani promises 'green growth'

<div type="image" msid="56596796" hostid="261"></div>

 
 <keyword id="4058296" type="PERSON" weightage="100" keywordseo="harshwardhan-zala">Harshwardhan Zala</keyword> is a 14-year-old student who isn’t just another teenager figuring out his life. This child prodigy from <keyword id="6354766" type="COMPANY" weightage="100" keywordseo="Gujarat">Gujarat</keyword> has just signed a Memorandum of Understanding (MoU) worth Rs 5 crore with the state government at the Vibrant Gujarat Global Summit, recently. 
 
Harsh, who is a Class 10 student, has designed a smart solution using which drones can not only detect but also diffuse landmines on war fields, saving many lives in the process. 
 
<a href="http://www.businessinsider.in/exclusive-shopclues-predicts-how-the-e-commerce-space-will-turn-out-in-2017/articleshow/56592792.cms">ALSO READ: Exclusive: Shopclues predicts how the E-commerce space will turn out in 2017</a> 
 The teenager has built three prototypes to clinch the deal with the <keyword id="154380" type="ORGANIZATION" weightage="20" keywordseo="department-of-science-and-technology">Department of Science and Technology</keyword> in Gujarat. 
He is very efficient too, as he has spent about Rs. 5 lakh in building his prototypes and has also named his own company, ‎Aerobotics7 Tech Solutions. 
 
The drone solutions that the boy has been working on are outfitted with an infrared sensor, thermal meter and an RGB sensor with a 21-megapixel built-in camera. 
 
<a href="http://www.businessinsider.in/why-e-commerce-companies-focus-on-fashion-to-become-profitable/articleshow/56521828.cms">ALSO READ: Why e-commerce companies focus on fashion to become profitable</a> 
 
During a war, the army can potentially send these drones to survey minefields, pick up the locations of landmines, and submit their findings to the base-station remotely and the drones can also bomb landmines they spot. 
 
He also has very supportive parents that keep encouraging him in his scientific inventions. They spent Rs. 2 lakh to fund his first two prototypes before the government decided to help him. 
 
<a href="http://www.businessinsider.in/exclusive-app-relied-on-by-investors-shows-that-paytm-clearly-lead-the-e-wallets-pack-in-december-2016/articleshow/56519390.cms">ALSO READ: Exclusive: App relied on by investors shows that PayTM clearly lead the e-wallets pack in December 2016</a> 
 With the future looking so bomb, he might just be the innovator that <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> has been lacking for some time now.

Meet Harshwardhan Zala, aClass 10 student making drones for the Gujarat government

<keyword id="6355315" type="General" weightage="20" keywordseo="elon-musk" source="Orion">Elon Musk</keyword>'s <keyword id="107096" type="General" weightage="20" keywordseo="tesla" source="Orion">Tesla</keyword> may finally end its dry run in India and announce to set up an Electric Vehicle (EV) supply system manufacturing plant in <keyword id="6354766" type="General" weightage="20" keywordseo="gujarat" source="Orion">Gujarat</keyword> during the 'Vibrant Gujarat Global Summit' next month. The announcement is likely to be made in the presence of Tesla CEO and Prime Minister <keyword id="6354477" type="General" weightage="20" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> at the flagship event from January 10-12, according to media reports. With its strategic location and favourable business environment, Gujarat has emerged as the "preferred destination for Tesla's manufacturing plans". According to Ahmedabad Mirror, the state government has suggested Sanand, Becharaji and Dholera as the site for Tesla to set up its manufacturing plant. Earlier, Gujarat, Maharashtra and Tamil Nadu were being considered by Tesla to set up its EV plant. Tesla has been engaged in intense negotiations with the Union Government, seeking concessions that would facilitate a smoother entry into the Indian market. Union Commerce Minister Piyush Goyal in November visited Tesla's state-of-the-art manufacturing facility in Fremont, California. Goyal said it was "extremely delighted to see talented Indian engineers and finance professionals working at senior positions and contributing to Tesla's remarkable journey to transform mobility". "Also proud to see the growing importance of auto component suppliers from India in the Tesla EV supply chain. It is on its way to double its components imports from India. Missed Elon Musk's magnetic presence and I wish him a speedy recovery," the Union Minister posted on X. Musk, had apologised to Goyal for not being able to meet him as he was keeping unwell. "It was an honour to have you visit Tesla! My apologies for not being able to travel to California today, but I look forward to meeting at a future date," Musk replied. Goyal and Musk were scheduled to meet during the Minister's US visit, after the <keyword id="6360701" type="General" weightage="20" keywordseo="spacex" source="Orion">SpaceX</keyword> and X owner met Prime Minister Narendra Modi in the US in June, and revealed he was keen to make significant investments in India. According to earlier reports, the automaker asked the Indian Government for an initial tariff concession that would offset India's steep customs duties of 70 per cent for cars under $40,000 and 100 per cent for cars above $40,000. Tesla had asked for the concession as a condition for constructing a plant in the country. The reduced tariffs would apply to all EV manufacturers. India's EV market has the potential to achieve over 40 per cent penetration with $100 billion revenue by 2030. This growth is expected to be driven by strong adoption (over 45 per cent) in both two-wheeler (2W) and three-wheeler (3W) categories, with four-wheelers (cars) penetration projected to grow to more than 20 per cent, according to a recent report by Bain &amp; Company and Blume Ventures.

Tesla may set up EV plant in Gujarat, Musk likely to visit India next month

Gandhinagar, <keyword id="7706673" type="General" weightage="20" keywordseo="finance-minister-nirmala-sitharaman" source="Orion">Finance Minister Nirmala Sitharaman</keyword> said on Wednesday exuded confidence that India will become the world's third largest economy worth over USD 5 trillion by 2027-28 and a developed nation by 2047, with GDP touching USD 30 trillion. India, with a GDP of roughly USD 3.4 trillion, is currently the fifth largest economy in the world, after the US, China, Japan and Germany. Sitharaman said during the Amritkal, which will mark 100 years of India's Independence in 2047, emphasis is being given to sunrise industries. Also, the FDI policy of the Narendra Modi Government has helped attract foreign investment, with USD 595 billion coming in the last 9 years. "It is possible that we will be the third largest economy by 2027-28, and our GDP will cross USD 5 trillion by that time. By 2047, it is a conservative estimate that we will reach at least USD 30 trillion in terms of economy," Sitharaman said while addressing a seminar of Vibrant Gujarat Global Summit 2024. Stressing that the people of India have met with the challenges post-COVID and recovery is on a strong footing, she said Gujarat will be the engine of growth in India's march to become a developed economy by 2047. The state has 5 per cent of India's population but contributes 8.5 per cent to the country's GDP. It is rapidly moving forward at 12 per cent CAGR (annual growth) between 2011 and 2021 against a national average of 10.4 per cent, the Union <keyword id="6355261" type="General" weightage="20" keywordseo="finance-minister" source="Orion">Finance Minister</keyword> said. Sitharaman said India is on track to become an in-house producer of semiconductors, and EV adoption is happening in a big way. All of these are the result of the FDI policy being pursued by the government. Between April 2000 and March 2023, in 23 years, India has attracted USD 919 billion in foreign direct investment (FDI). 65 per cent of this, or USD 595 billion, has come in the last 8-9 years, Sitharaman said. "FDI is coming in... where policies bring in greater certainty, convenience, ease of doing business, FDI flows in. Of course, disruptions of higher US Fed rate and other things can divert it elsewhere. But despite that, we have been receiving that kind of flow of the FDI. It is not as if it's coming only for manufacturing, it is coming in the service sector (as well)," she said. Speaking about financial inclusion, Sitharaman said 80 per cent of people have bank accounts. The number of bank account holders increased to 50 crore from 15 crore in 2014.

India to be third largest economy by FY28, a developed nation by 2047: FM

<ul><li>India’s new e-commerce rules may be a setback for global players like Amazon and Flipkart. </li><li>The biggest beneficiary will be large Indian retailers and the largest of them all is Mukesh Ambani’s Reliance Retail. </li><li>While his physical stores benefit from less pricing pressure, his e-tail venture will get a level playground to fight established giants, at no extra cost. </li></ul>E-commerce in India is gearing up for some <a href="https://www.businessinsider.in/indias-new-e-commerce-policy-has-rivals-flipkart-and-amazon-teaming-up-to-counter-the-new-directive-and-the-republic-day-sale-will-probably-be-their-last/articleshow/67366996.cms">massive changes</a> from February 1. Foreign e-commerce players — like Amazon and Flipkart — will no longer be able to offer consumers ‘deep discounts’ or sell their own brands through their respective platforms. It’s a big blow to Jeff Bezos’ and Walmart, and not the best news for consumers in India. Local vendors are voicing their support for the new policy, hoping they can regain some market share, without having to lose more money by offering discounts. 
	
	
	
	
	
	<div type="twitter" handle="1kunalbahl" handlename="Kunal Bahl" image="http://pbs.twimg.com/profile_images/785022133860638720/pBp2lRBx_normal.jpg" favoritecount="99" retweetcount="31" status=".@Snapdeal welcomes updates to FDI policy on e-commerce. Marketplaces are meant for genuine, independent sellers, m… https://t.co/aQ8H4LDw13" createdat="1545832500000" id="1077925752090300416"></div>













 However, the biggest beneficiary of the new policy may not be a broke Snapdeal or the now-jaded Shopclues. It is likely to be India’s <a href="https://www.businessinsider.in/e-commerce-wars-amazons-jeff-bezos-vs-mukesh-ambani-in-india/articleshow/67620116.cms">largest retail chain operator</a> Reliance Retail, owned by Mukesh Ambani — the richest man, not only in India, but in Asia. The facts Physical retailers — with the brick-and-mortar stores— are the immediate benefactors. The new rules are expected to boost sales for offline vendors by taking away the discounts available to consumers online. CRISIL estimates that it could increase revenue for offline retailers by ₹100 billion to ₹120 billion by 2020. Just as the loss of business for e-commerce is the gain for retail chains, the advantage is usually with the larger players in the space — because of the sheer scale, reach and resources at their disposal. And the largest of them all is Reliance Retail. “The impact on e-tailers would be largely in the electronics and apparel segments, which account for a bulk of their revenues,” says Anuj Sethi, the senior director at CRISIL Ratings. Coincidentally, 34% of Reliance Retail’s revenue comes from its electronics arm — Reliance Digital. It’s also the largest holder of foreign brand licences for apparel in India. Some of its top brands include Diesel, Hamleys, Kenneth and Steve Madden. Reliance Retail’s offline avatar served 3.5 million customers a week through 9,146 stores across 5,800 cities as of September 2018. Brokerage house CLSA further estimates that the company’s revenue may grow nearly 12-fold to $138 billion in the next 10 years. 
 
 
 
 
 
 <div type="javascript" title="Custom" contenttype=""><cdata><![CDATA[
<div class="flourish-embed" data-src="visualisation/209528"></div>
]]></cdata></div>













 If CLSA’s estimate were to come true, Reliance Retail alone will be making over a quarter of all revenue from retail — both online and offline — in India, expected at about $550 billion, in the next decade. The timing There is no doubt that online retail still has a lot of potential in India. Nasscom and PricewaterCoopers (PwC) estimate that the market will balloon to $150 billion by 2022. Online players still make for <a href="https://www.livemint.com/Industry/9iUxlQZ4iHwPiXRKscx3LK/Indias-ecommerce-market-to-grow-30-to-200-billion-by-202.html">only</a> 3% of the total retail market in India, and the prospects are still huge. So for Mukesh Ambani, as the chairman of Reliance Industries, it’s an unavoidable opportunity. One part of Reliance Retail— the apparel brand Ajio — is already online. Now, he is looking to expand the offerings beyond apparel, with a pilot programme in the state of Gujarat. Before Ambani’s entry, Amazon had <a href="https://www.businessinsider.in/amazon-takes-the-fight-to-walmart-by-investing-another-27-billion-in-india/articleshow/65404423.cms">invested over $4.7 billion</a> in India over the last six years, primarily because it identified the potential of a market with a population of nearly a billion and half people. For the same reason, <a href="https://www.businessinsider.in/indian-unicorn-flipkarts-board-approves-15-billion-deal-with-walmart/articleshow/64027810.cms">Walmart bought Flipkart</a> in 2018 for a whopping sum of $15 billion, paying a heavy premium for joining the game late. Over the years, Amazon, Flipkart and other early birds have burnt billions of dollars giving discounts, getting people used to shopping online and creating a market. Then, the government revised its policy on foreign direct investment (FDI) in e-commerce on December 26, 2018, changing the rules of the game, which would bring the likes of Amazon and Walmart on a level playing field with new entrants. Less than a month later, Mukesh Ambani took the stage at the investor summit Vibrant Gujarat and unveiled his plan to expand his online retail business. The government’s new e-commerce rules are essentially trying to protect India’s retailers — including Reliance Retail — from the deep discounts offered by e-commerce giants. That is how Ambani’s physical stores gain. What’s more, as a new entrant to e-commerce, going against established players with equally deep pockets, Ambani will not have to burn money through discounts. In fact, he is not allowed to. He gets a level-playing field to fight established giants like Amazon and Walmart-owned Flipkart, at no extra cost. The spin Ambani had his own spin on why the change in rules was justified. "In this new world, data is the new oil. And data is the new wealth. India's data must be controlled and owned by Indian people and not by corporates, especially global corporations,” Ambani said at the Vibrant Gujarat Summit in January 2018. He was alluding to the fact that two biggest e-commerce companies in India are owned by foreigners, and they have access to priceless data on Indian consumer behaviour. Even people from the government echoed the ‘nationalistic’ spin to the story that Ambani offered. “We don’t want to build walls, but at the same time, we explicitly recognize and appreciate that data is a strategic asset,” Aruna Sundararajan, the nation’s secretary of telecommunications said last year at a press conference. The other view can be equally convincing to Ambani’s critics. John Elliott, the author of “Implosion: India’s tryst with reality” begs to differ. “The idea that Reliance is any safer at protecting Indian people’s data than Amazon or Walmart is ludicrous,” Elliott told Business Insider. See also: <a href="https://www.businessinsider.in/indias-new-e-commerce-policy-has-rivals-flipkart-and-amazon-teaming-up-to-counter-the-new-directive-and-the-republic-day-sale-will-probably-be-their-last/articleshow/67366996.cms">India’s new e-commerce policy has rivals Flipkart and Amazon teaming up to counter the new directive — and the ‘Republic Day’ sale will probably be their last</a> <a href="https://www.businessinsider.in/the-indian-government-just-dealt-a-serious-surprise-to-amazon-and-flipkart-heres-what-that-means-for-online-shoppers/articleshow/67272151.cms">The Indian government just dealt a serious surprise to Amazon and Flipkart — Here’s what that means for online shoppers</a> <a href="https://www.businessinsider.in/e-commerce-wars-amazons-jeff-bezos-vs-mukesh-ambani-in-india/articleshow/67620116.cms">Amazon's newest challenger may be the richest man in Asia</a>

Mukesh Ambani may be the surprise winner from India's new rules hurting Amazon and Walmart

Is India on the threshold of becoming the world’s most digitized economy? 
 
Yes, if we go by <a href="http://www.businessinsider.in/searchresult.cms?query=Narendra+Modi&amp;sortorder=effectivedate">Prime Minister Narendra </a><a href="http://www.businessinsider.in/searchresult.cms?query=Narendra+Modi&amp;sortorder=effectivedate">Modi</a>’s speech at the <a href="http://www.businessinsider.in/searchresult.cms?query=vibrant+gujarat&amp;sortorder=effectivedate">Vibrant Gujarat Global Summit</a> at Gandhinagar on Tuesday. 
 “Believe me, we are on a threshold of becoming the world’s most <keyword id="3472648" type="UNKNOWN" weightage="20" keywordseo="digitised-economy">digitised economy</keyword>,” said PM Modi as he explained his vision to bring a paradigm shift in his government’s policies and economy using technology. 
 
There is no doubt that post November 8, <a href="http://www.businessinsider.in/searchresult.cms?query=demonetisation&amp;sortorder=effectivedate">demonetisation</a> has forced more Indians to use technology to accomplish their financial transactions. 
 
But in a country of over 1.25 billion people, will that be enough to make it the most <a href="http://www.businessinsider.in/searchresult.cms?query=digitisation&amp;sortorder=effectivedate">digitized economy</a>? If yes, how long will it take? 
 
The World Economic Forum’s Network Readiness Index that ranks countries on their performance in the digital world, released in July 2016, placed India at the 91st position out of 140 countries worldwide. This was a slip of 2 positions from the previous year with the drop being attributed in part to the fact that other countries are moving ahead at higher speeds. 
 
 
 
Singapore took the top position followed by Finland, Sweden, Norway and United States. 
 
Interestingly, the report also revealed that among the major emerging markets, India is ranked the lowest. The best among emerging markets is Russia at 41st rank, followed by China at 59th, South Africa at 65th and Brazil at the 72nd position. 
 
The report points out that despite improvements in its political and regulatory environment (78th, up four) and business and innovation environment (110th, up five), lack of infrastructure (114th) and low levels of skills among the population (101st) remain the key bottlenecks to widespread ICT adoption, especially in terms of individual usage (120th). 
 
Calling mobile broadband a privilege of the few, with only 5.5 subscriptions for every 100 people, the study shows that only 15 out of 100 households have access to the Internet in India. 
 While the report lauded ‘<keyword id="1929810" type="UNKNOWN" weightage="20" keywordseo="Digital-India">Digital India</keyword>’ for aiming to bridge this gap, it also said that India’s performance in terms of providing online services and allowing e-participation is far from the global best though in line with peer countries. 
 
Also on the key parameter of government usage of digital policies and the number of government services they provide online, India has shown a small decline in its score from 4.55 in 2013 to 4.1 in 2016, with 1 being the lowest and 7 being the best. 
 
The Indian government under Narendra Modi has also made substantial noise on being digitally savvy. But it features nowhere among the ten most tech-savvy governments. 
 
There are other studies also that reveal India’s inadequate infrastructure – a major roadblock to large scale digitisation. The ICT Development Index (IDI) that helps to monitor and compare developments in Information and Communication Technology (ICT) ranked India at 138 out of 175 countries, a fall of 3 positions from 2015. 
 
 
Even here, among the emerging economies, Brazil, Russia, South Africa and China are ranked within the top 100 countries, making it clear that India has a long way to go. 
 
So in light of how we rank globally, how long can this ‘threshold’ be for becoming the world’s most digitized economy. Maybe PM Modi has borrowed the phrase from the world’s richest man Bill Gates. 
 Gates was in India in the second week of November, much after <keyword id="3315394" type="UNKNOWN" weightage="20" keywordseo="demonetisation">demonetisation</keyword> was announced. Calling ‘demonetisation’ a bold move, the founder of Microsoft and the world’s best known evangelist for using technology to better human life said that “India has great potential to become the most digitized economy globally in mere seven years.” 
 
Gates did not clarify on how he arrived at the seven-year target, neither has Prime Minister Narendra Modi clarified what he meant by ‘threshold’. 
 
Going by the challenges ahead of India, it is safe to assume we still have considerable ground to cover before becoming the most digitized economy of the world. 
 
(This article is authored by Jency Jacob. The article was first published in <a href="http://www.boomlive.in/modi-reproduce-bill-gates-statement-india-becoming-worlds-digitised-economy/">www.boomlive.in</a>)

India to soon become the world’s most digitised economy, says Modi: A FactCheck

TiE, a global network of entrepreneurs and professionals, successfully concluded its first ever, TiE Global Summit. The event showcased success stories and business strategies of entrepreneurs and startups. Delivering on the theme of a ‘Million Entrepreneurs, the TiEGolbal Summit curated a platform for emerging businesses, aspiring entrepreneurs to learn from the leaders in the entrepreneurial space, through its various brain storming chat sessions. The event witnessed over 3000 delegates including business leaders, investors and entrepreneurs and provided a platform to meet and exchange unique ideas while networking. 
 
Rajan Anandan, VP South East Asia &amp; India, Google along with Hitesh Oberoi, MD &amp; CEO, Infoedge India Limited shared his insight on start ups. In his address, Rajan spoke about the need for home-grown startups to focus more on the next set of internet users in India. "Think of the large new businesses you can build once you have 600 million connected users. In line with this, Google's main focus is on getting the next billion users online," he commented. Talking about the overall development of India’s Start-up ecosystem, Rajan stated, “Though we are the third largest start-up base in the world, we are still at a very early stages of building a robust startup ecosystem. We are standing on the first day of the first match of a five match test series I believe! " 
 
Another highlight of the two day conference was the high powered panel discussion anchored by Amitabh Kant, CEO, Niti Aayog along with Ramesh Abhishek, Secretary, DIPP, Saurabh Srivasatava, Chairman Emeritus, TiE Delhi Ncr, Aruna Sundararajan, Secretary, Ministry of Electronics &amp; IT, Govt. of India, Pragya Saksena, Joint Secretary, CBDT and UK Sinha, Chairman SEBI. Talking about the innovation and disruption in new ventures, Amitabh Kant stated, “Innovation is always ahead of regulation. We must have the ability to transform regulations and if we do not do this then India will never be able to grow. Uber is disrupting the world and when disruptions like these take place India must have the capability to understand and modify and change regulations to keep with the innovation." 
 
“If you build differentiators to build a successful venture, all what the western world has created so far will become redundant in India by 2024,” Amitabh Kant said during the discussion. 
 
Commenting on the of the enthusiastic response from entrepreneurs, Industry leaders and policy makers that characterized the TiE Global Summit, Venkatesh Shukla, President, TiE Global said “The first ever TiE Global Summit was aimed at inspiring and educating entrepreneurs as well as providing a platform to connect with angel investors, VCs, corporate executives, policy makers and other members of this growing ecosystem. With an intention to not just inspire a ‘Million Entrepreneurs’ but to encourage them to ‘Think Big and Think Global’, this landmark event was a result of spirited collaboration amongst the 20 chapters of TiE from India, Silicon Valley, Singapore and Dubai. We hope that the success of this inaugural summit will provide a template for the industry for future endeavors.” 
 
TiE Global Summit is one of the largest entrepreneurship forums in India, which is instrumental in creating an exciting and vibrant entrepreneurial ecosystem in the country. The platform acts a pivotal base for startups and investors helping them to build upon their businesses. TiE has always been a hub for accelerators and incubators to come together. It has given entrepreneurs and investors an opportunity to meet and exchange ideas for a better future. 
 
Started in the year 1992 in Silicon Valley by a group of successful entrepreneurs, TiE has completed 25 years of fostering entrepreneurship across the world.

TiE Global Summit laid out the roadmap for a million
entrepreneurs

The <a href="http://www.businessinsider.in/searchresult.cms?query=Tamil+Nadu">Tamil Nadu</a> government is going tech-savvy for the Global Investor Summit, which is slated for September in the state, to attract <a href="http://www.businessinsider.in/searchresult.cms?query=funds">funds</a>. 
 
Delegates arriving for the <a href="http://www.businessinsider.in/searchresult.cms?query=global+investor+summit">summit</a> will be able to exchange virtual business cards and even have real-time clarifications on policy and each registered delegate will also have an unique user identity. 
 
Technologists are working on the same and the online database will form the foundation for future communications between delegates or with the organising bureaucrats through a <a href="http://www.businessinsider.in/searchresult.cms?query=mobile+application">mobile application</a>. 
 
Sources told Economic Times the state government is focusing on communications as many ambassadors from foreign counties had said the ease of reaching out to fellow delegates as a key enabler in business meets. 
 
ET reported that the Rs 100-crore summit will monitor delegates' presence through Radio Frequency Identification, enabled by an electronic chip embedded in their delegate passes. 
 
"It will help us manage the flow of the event better. The other new feature is the virtual business card, visitors can use the mobile app to scan the QR code integrated with the app to get a digital business card, so that people can still exchange coordinates after they run out of business cards," an official in charge of event management of the two-day meet told the financial daily. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=investment">The target investment</a> for the summit is Rs 1 lakh crore. 
 
The event was postponed from May to September as earlier only three partner nations were participating. Now, seven nations have committed to participate.

You Searched For "vibrant gujarat global summit" and got 13 results

Vibrant Gujarat Summit: Tata Group to build semiconductor fabrication plant in Dholera

PTI

BJP to focus on ‘Make in Gujarat’ during mega Vibrant Gujarat Summit with one eye on polls.

BI India Bureau

Is Vibrant Gujarat losing its sheen and surviving on the past glory of Modi days in Gujarat?

Suchayan Mandal

Avaada Group to invest Rs 40,000 cr to develop 6 GW hybrid renewable projects in Gujarat

PTI

Paytm to invest Rs 100 Crore in GIFT City; plans to offer AI-driven cross border remittance

ANI

Reliance to set up carbon fibre facility in Gujarat as Ambani promises 'green growth'

PTI

Meet Harshwardhan Zala, aClass 10 student making drones for the Gujarat government

BI India Bureau

Tesla may set up EV plant in Gujarat, Musk likely to visit India next month

IANS

India to be third largest economy by FY28, a developed nation by 2047: FM

PTI

Mukesh Ambani may be the surprise winner from India's new rules hurting Amazon and Walmart

Prabhjote Gill

India to soon become the world’s most digitised economy, says Modi: A FactCheck

Guest Author

TiE Global Summit laid out the roadmap for a million entrepreneurs

BI India Bureau

After Karnataka, Tamil Nadu turns tech savvy

BI India Bureau

Popular Keywords

Buying Guides