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Issues related to data privacy and rising <keyword id="20127272" type="General" weightage="20" keywordseo="online-frauds" source="keywords">online frauds</keyword> are emerging as significant hurdles in the growth of e-commerce in India, said the <keyword id="20613906" type="General" weightage="20" keywordseo="Economic-Survey" source="keywords" meta.keywordsubtype="org" meta.entityname="Economic Survey" meta.hostid="261" meta.entityid="Economic Survey">Economic Survey</keyword> 2023-24 tabled in Parliament on Monday. Citing third-party data, the survey said that the e-commerce industry in India is expected to cross USD 350 billion by 2030 and called for the need to educate users on the safe use of e-commerce platforms. "The rise of e-commerce is constrained by inadequate skills required for online selling, such as cataloguing. <keyword id="22505774" type="General" weightage="20" keywordseo="data-privacy-issues" source="keywords">Data privacy issues</keyword> and increasing online fraud have turned out to be the most significant hurdle in the growth of e-commerce in India. It becomes imperative to educate users on the safe use of e-commerce platforms," the survey said. The survey mentioned that India's e-commerce market has gained significant momentum during the past few years, owing to technological advancements, evolving new-age business models coupled with government initiatives like the Digital India program, UPI, One District - One Product (ODOP), Open Network for Digital Commerce (ONDC), new foreign trade policy, easing of FDI limits and Consumer Protection (E-Commerce) (Amendment) Rules 2021. It has identified data privacy and <keyword id="19906883" type="General" weightage="20" keywordseo="cybersecurity" source="keywords">cybersecurity</keyword> as critical concerns in the <keyword id="22505776" type="General" weightage="20" keywordseo="digitisation-of-services" source="keywords">digitisation of services</keyword> in the country and called for adopting strong security measures, compliance with privacy regulations, and innovation, among others. "Data privacy and cybersecurity have become critical concerns with the increasing digitisation of services," according to the survey. It said that the government is spearheading data protection laws and cybersecurity policies to safeguard consumer data and strengthen cybersecurity measures in the services sector. "To further embrace technology with confidence, ensuring the adoption of strong security measures, compliance with privacy regulations, and fostering innovation in security technologies are essential," the survey noted. It said the future of e-commerce is built on the enhanced <keyword id="20290101" type="General" weightage="20" keywordseo="user-experience" source="keywords">user experience</keyword> through <keyword id="19899640" type="General" weightage="20" keywordseo="AI" source="keywords">AI</keyword>, seamless <keyword id="21332958" type="General" weightage="20" keywordseo="digital-payment-methods" source="keywords">digital payment methods</keyword>, innovations like UPI, and business engineering data analytics for business operations and enhancements. The survey mentioned that the buyer ecosystem in India is evolving at a very sharp rate, and business models will need to innovate to serve the needs of a diverse shopper base regarding service expectations, price sensitivity and language requirements. "Local language platforms are needed as the shopper base expands to tier-2 and tier-3 cities. Growing startups and innovative social media platforms provide an opportunity to test unique business models that might be targeted to specific demographic cohorts," the survey said.

Data privacy issues, online frauds emerging as e-commerce growth hurdles: Eco Survey

<ul><li><keyword id="1402053" type="General" weightage="20" keywordseo="ashok-vaswani" source="Orion">Ashok Vaswani</keyword> is a Stanford graduate who is also a CA, CS and did his Bachelors at Sydenham College of Commerce.</li><li>Vaswani worked with <keyword id="44473" type="General" weightage="20" keywordseo="citigroup" source="Orion">Citigroup</keyword> and more recently, at <keyword id="6386585" type="General" weightage="20" keywordseo="barclays" source="Orion">Barclays</keyword>, where he built and grew the business to a scale.</li><li>Vaswani is obsessed with technology but also focused on earning the trust of his consumers.</li><li><keyword id="45051" type="General" weightage="20" keywordseo="uday-kotak" source="Orion">Uday Kotak</keyword> has roped in an outsider given the extent of the transformation that <keyword id="46013" type="General" weightage="20" keywordseo="kotak-mahindra-bank" source="Orion">Kotak Mahindra Bank</keyword> will need in times to come when banks will have to fight for wallet share of consumers. </li></ul>Today, you don’t need to step into a bank to make payments, check your balance or even request for a cheque book. That is if you still use those booklets. Since your bank’s mobile app allows you to do all this and much more online, can there be more digitisation in banking? Well, the new CEO of Kotak Mahindra Bank Ashok Vaswani thinks that a lot more technology can be deployed in banks. As the CEO of Barclays Bank UK, Vaswani knows how the lives of consumers can transform with digitisation. He is also cognisant of the fact that a bank does not only cater to millennials or GenZ population. At Barclays, he had a team of tech experts to help consumers who were even in their 1990s such that they could learn not just digital banking but even chat with grandkids on Skype or Zoom. That is how the new CEO of Kotak Mahindra Bank thinks, given that his head and heart are in the right place. At a time when banks are struggling to keep consumers happy while maintaining high profit margins, Vaswani could well be the man who can plug the gaps. And, if there’s something he can talk about for hours, it is the technological transformation of financial services. Not only is he cognisant of the ease that digital banking brings, but also the risk that comes along with it. This generational shift at India’s fourth largest private bank in India clearly wants to up its game in the years to come by leveraging technology to transform not only its operations but also create new and better services for its customers. Imagine an AI Bot that actually tells consumers every month on how spending on eating out is much more than feasible or that average monthly savings are not good enough when you retire. Yes, Vaswani believes that is the next stage of banking as it can open up different ecosystems. In an interview a few years ago at the University of West England, Bristol, he said: “I would submit that a lot more digitisation can happen. Why would I not be able to tell you, you are earning so much, you are spending this much and you should be saving. Can you imagine, you spent so much money on Uber and that you should be careful?” There are so many aspects of digital transformation that limits are frankly only set in the mind. As the CEO of Barclays UK, he has not just built a lot of products for consumers but even their confidence in the bank and the banking system. It is a refreshing change to hear a CEO talk about confidence in the company and not just on margins. Vaswani has a proven track record spanning three and a half decades across the world’s leading banks. He was initially at Citigroup and more recently, at Barclays, where he built and grew the business to a scale. He brings with him significant executional experience with a high degree of compliance and industrial strength across corporate and consumer businesses. Vaswani was Chief Executive Officer of Barclays Bank, UK and subsequently CEO of their global consumer, private, corporate and payments businesses and Member of the group executive committee. Earlier, he was CEO Citigroup Asia Pacific and Member of the Citigroup Global Operating Management Committees. He also built and ran various country and regional businesses across geographies. What makes him interesting is that he has not only run global banks but has even been president of Pagaya Technologies, a US-Israeli AI fintech company. This kind of exposure makes him a much better candidate than any insider at Kotak Mahindra Bank. At last count, there were three top contenders for the job, but Uday Kotak has roped in an outsider given the extent of the transformation that the bank will need to undertake to remain relevant in the face of competition from other fintechs. Ashok is married to Veena and their daughter is working in the United States of America. It is interesting that Uday Kotak, first generation founder and promoter of Kotak Mahindra Bank, has brought in an outsider to run the bank. Organisations typically are wary of bringing in outsiders at top jobs mostly because of the friction that results from such hiring due to cultural fitment and acceptance of a known candidate. It is easier for the rank and file to accept an insider rather than an outsider but Uday Kotak has chosen to take the risky route. While in some unfortunate cases like Infosys, where Vishal Sikka did not fare too well when promoters stepped away in 2014, the experiment of outsiders has been rather successful at the Tata Group. When Ratan Tata took over the reins at the Tata Group, he brought in Kishor Chaukar who came from ICICI Securities to head Tata Industries. Ravi Kant came in from Philips India in 1999, and headed commercial vehicles for Tata Motors before becoming MD in 2005. In 1998, the then vice-chairman of Hindustan Lever (now known as Hindustan Unilever), moved to Tata Sons as executive director. Typically, Indian corporations bring in overseas talent when they believe that the requisite skills are not available in India. But given that India’s private banking sector has grown and flourished under the stewardship of homegrown talent, this shift is an interesting move by Uday Kotak, who clearly sees merit in Vaswani’s experience outside of India. No wonder Uday Kotak, Founder and Director, Kotak Mahindra Bank said: “I am proud that we bring a ‘Global Indian’ home to build Kotak and India of tomorrow.” Interestingly, Ashok Vaswani is a Bachelor of Commerce, Economics and Accountancy, from the Sydenham College of Commerce and Economics (Bombay University), CA from the Institute of Chartered Accountants of India, CS from the Institute of Company Secretaries of India and Executive Education from the Stanford University Graduate School of Business. Uday Kotak too is alumnus of Sydenham College and has a postgraduate degree in management studies in 1982 from Jamnalal Bajaj Institute of Management Studies.

The CEO who believes that there’s a lot more to digitise at banks

Reiterating his vision to help <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> join the digital bandwagon, Alphabet and Google CEO <keyword id="164502" type="General" weightage="20" keywordseo="sundar-pichai" source="Orion">Sundar Pichai</keyword> has said the ongoing investments are a reflection of the company's confidence in the future of the country and its digital economy. The company, which announced a $10 billion Google for <keyword id="9566294" type="General" weightage="20" keywordseo="india-digitisation-fund" source="Orion">India Digitisation Fund</keyword> last year, has already invested $4.5 billion for a 7.73 per cent stake in the top telecom network <keyword id="9161648" type="General" weightage="20" keywordseo="reliance-jio-platforms" source="Orion">Reliance Jio Platforms</keyword>, along with recently investing up to $1 billion in Bharti Airtel. "It is a reflection of our confidence in the future of India, its digital economy, our desire to build products there, which we think will help us globally," <keyword id="1604185" type="General" weightage="100" keywordseo="pichai" source="Orion">Pichai</keyword> said during the company's earnings call late on Tuesday. On the company's payment strategy, Pichai said it is thinking deeper about emerging markets like India as it "lines up with our mission of building a more equitable Internet for everyone". Pichai is also bullish on YouTube's future in the country. "When I look at YouTube in India, some of the commerce ideas we talked about earlier, you may see as the first stride in India first because we can get quicker feedback, a very dynamic, youthful population," he noted. "So we'll do it there (in India) and then roll it out globally. We are constantly looking for opportunities like that," Pichai added. YouTube Shorts continues to drive significant engagement for the company globally including in India. "We just hit 5 trillion all-time views and have over 15 billion views each day globally. This is helping our creator community reach newer and bigger audiences," Pichai added. "In 2022, we'll stay focused on evolving our knowledge and information products, including Search, Maps and YouTube, to be even more helpful," he added. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-ce-2-lite-5g-with-5000mah-battery-snapdragon-695-and-an-affordable-price-tag-to-launch-in-india/articleshow/89291372.cms">OnePlus Nord CE 2 Lite 5G with 5,000mAh battery, Snapdragon 695 and an affordable price tag to launch in India</a> <a href="https://www.businessinsider.in/tech/enterprise/news/more-employees-are-leaving-tech-mahindra-than-tcs-and-wipro/articleshow/89291721.cms">More employees are leaving Tech Mahindra than TCS and Wipro</a> <a href="https://www.businessinsider.in/tech/news/here-are-the-main-areas-where-technology-took-a-big-role-in-the-union-budget-2022/slidelist/89279470.cms">All things tech in Nirmala Sitharaman's budget speech</a>

Sundar Pichai reiterates his confidence in India, says Google will build more products in India for the world

<ul><li>It's not a new phenomenon for businesses to go digital; we’ve been observing this change for almost two decades now. </li><li>However, the pandemic and the “New Normal” have pushed the adoption of <keyword id="50691" type="General" weightage="100" keywordseo="digital" source="Orion">digital</keyword> ahead by 3-4 years and that too at a very accelerated rate. </li><li>What has changed, is that the purpose of digital is no more to gain advantage but is for survival.</li></ul>The <keyword id="8902449" type="General" weightage="20" keywordseo="COVID-19-pandemic" source="Orion">COVID-19 pandemic</keyword> has led the world into a crisis, and this might be the understatement of the decade. With its effect still prevalent and impacting millions of people around the world, it has made its presence felt in all sectors of business and the global economy. The sudden surge resulted in restricted large gatherings of people, in-person business operations and has coaxed people to work from home as much as possible to control the spread of the virus. The new ways of working however, have not stopped businesses from operating. In response to the current challenges, many companies began to find new ways to survive and grow; and turned to digital as an answer to their problems. Not just business, institutions like schools and governments also incorporated digital in their processes and operations. Most of these businesses and institutions started working through digital channels like video conferencing platforms to engage with their colleagues, students, and clients. It's not a new phenomenon for businesses to go digital; we’ve been observing this change for almost two decades now. Before the pandemic, digitalisation and technology had gained momentum and had become a novel initiative for almost all businesses. However, the pandemic and the “New Normal” have pushed the adoption of digital ahead by 3-4 years and that too at a very accelerated rate. What has changed, is that the purpose of digital is no more to gain advantage but is for survival, safety being a prime motivation and outcome driving the adoption of digital vs. convenience. Digital has helped businesses to engage better with the customers, allowing flexible ways of working and creating digital and automated operations enabling the introduction of newer, faster, and more efficient processes. Industries are revolutionising their business in the wake of new normal. Uber, for example, recently provided Uber-only drivers with information on adding UberEats food delivery to their services. Uber Eats and Deliveroo, among others, have launched contactless "leave at your door service" to help drivers and customers follow social distancing and quarantine rules. Major hospitality players have already employed the latest technological tools to map consumer behaviour better and provide highly personalized services to their customers, such as mobile check-ins, biometric-based access to the room. And “if” you don't like to travel, there are now virtual reality (VR) vacations that you can take from the comfort of your home. There were companies that saw and seized the opportunity and grew. For instance, <keyword id="128682" type="General" weightage="20" keywordseo="netflix" source="Orion">Netflix</keyword> saw exponential growth in subscribers during the lockdown. It reached a whopping 15.8 million paid subscribers in the first three months of 2020 amid the coronavirus pandemic. The entertainment industry turned to digital and started streaming movies on OOTD platforms creating an alternate business channel. Others got creative. Whilst the pandemic, KFC went the DIY (Do it yourself) way. They encouraged their customers to cook KFC chicken dishes and post them on social media to be critiqued by KFC members. This campaign had hundreds of customers doing their homemade dishes and posting them with the #RateMyKFC hashtag. The campaign helped KFC stay relevant and engage with its core base of clients. While many businesses suffered huge losses during the pandemic, Adidas scaled up their brand equity and sales. They transformed their platform and added the new creators club for users to collect points by purchasing and sweating and started a challenge called "Home team hero”, where, for each minute workout Adidas donated $1 to WHO to fight COVID. The users raised $1 million for the pandemic, and the sales rate rose by 93%. So, what does it truly mean to "go digital"? <keyword id="860946" type="General" weightage="20" keywordseo="digital-transformation" source="Orion">Digital transformation</keyword> will look different for every company; it will be hard to define it in a way that applies to all.However, going digital is an ever-evolving journey of adopting digital technologies to help improve and streamline your business. Why does digital transformation matter, especially now? A business may take on digital transformation for several reasons. But by far, the most likely reason is that they are compelled to. But, in the wake of the pandemic, everyone has turned to digital channels for everything, from news to entertainment to education to remote working. In this present situation, the digital transformation has gone from being a significant initiative to absolutely crucial. It has become vital for the survival of the business. Before the pandemic hit, organizations had the luxury of time to adopt digital transformation as per their needs with a slow and steady approach, but the pandemic took away that luxury and made it a cornerstone to a business’s success and survival. Digital transformation is vital to all businesses, regardless of size. It is now more important than ever to stay competitive and relevant in this crisis and the ever-growing digital world. Technology drives the shift in business, and companies that wish to succeed must merge technology with business strategy to stay ahead. Speed is an essential factor too. Digital initiatives that foster improved speed and coordination for the organisation, are at the forefront of business strategy and can lead to a positive customer experience and enhanced operational efficiency. What benefits does digital transformation present to organisations? <ul><li>Innovation in product and services is what propels business growth. The insights gathered from the data, which contains customer behaviour, feedback, suggestions, and ratings can help companies make an informed decision on how to modify your products and services to gain competitive advantage. At the same time, technologies like augmented reality/virtual reality (AR/VR), digital twin and digital factories are revolutionising the R&amp;D behind the product design and creation.</li></ul><ul><li>Better user experience is essential to any business, and with the rise of mobile and technology advancements, we've seen customer expectations change. Offering digital and personalised experience to your customers will make their lives easier and make your business more attractive to potential customers. But, most importantly, it keeps you relevant. </li></ul><ul><li>Businesses today with digitisation have access to a greater volume of data than ever before. With the right digital tools, businesses can crunch this data into valuable, real-time business insights that can be used to make more informed, quicker decisions about their strategies. In addition, easy access to data is now becoming very critical. In the new normal when more and more companies are adapting to hybrid working, and creating a digital ecosystem, access to the data is necessary from anywhere and everywhere.</li></ul><ul><li>Last but not the least, a successful digital transformation should lead to higher employee engagement. Many companies are adapting to remote, or hybrid working and will continue to do so post the pandemic as well. In such a scenario, a connected employee environment with a digital ecosystem helps in monitoring productivity and creating a positive and engaging working experience.</li></ul>Digital transformation was always the way forward for business growth. The new normal just made it more evident. Companies like <keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword>, UBER, Netflix were able to grow through the pandemic because they had realised it earlier and had thRajiv Shah, CEO, Digital Business Services, Happiest Minds.Rajiv Shah, CEO, Digital Business Services, Happiest Minds.Rajiv Shah, CEO, Digital Business Services, Happiest Minds.Rajiv Shah, CEO, Digital Business Services, Happiest Minds.e first mover advantage. And they will continue to reap the benefits of their foresightedness. Digital is no more a technology initiative; it is a key aspect of business strategy. The sooner the companies understand that and begin or accelerate their digital transformation journey, the faster they will be able to adapt to the new normal and gain competitive advantage. The author is Chief Executive Officer of Digital Business Services at Happiest Minds. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-market-grows-6-in-third-quarter-as-samsung-tops-shipments/articleshow/87360895.cms">Global smartphone market grows 6% in third quarter as Samsung tops shipments</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/apple-lost-6-billion-to-chip-shortages-expects-bigger-losses-this-quarter/articleshow/87359867.cms">Apple lost $6 billion to chip shortages, expects bigger losses this quarter</a>

OPINION: Digitisation of business has become vital for survival

<ul><li>Today, for any business to thrive, having a strong digital presence is an important factor.</li><li><keyword id="9962582" type="PERSON" weightage="20" keywordseo="Dhananjay-Arora">Dhananjay Arora</keyword>, CEO, <keyword id="10296443" type="COMPANY" weightage="20" keywordseo="kwebmaker-digital-agency">Kwebmaker Digital Agency</keyword> writes on the importance of digitization and how it can help in taking your business to the next level. </li></ul>Owning a business in the digital era and yet wondering what the wonders of <keyword id="860946" type="COMPANY" weightage="20" keywordseo="digital-transformation">Digital Transformation</keyword> can do to your business? Unaware of the leaps and bounds a digital transformation can do to your brainchild? Here are some <keyword id="10296442" type="UNKNOWN" weightage="20" keywordseo="positive-enablers">positive enablers</keyword> for you to gain confidence in your digital transformation! Today, be it a home-grown business or huge business, every sector is reaping the benefits of going digital. Top Notch Technology, High Automation, Ease Access to the web, Competitive laden product or service placements, everything has become a part of our lives now. The power of digital media and presence not only influences your audiences purchasing power and decision but also motivates and controls the thought process of making a purchase and the very need of it. The current rhythm of your audience digitally requires you to be ahead of time in providing value through your product and service. It is really quite impossible to imagine any consumer segment or segments to make a purchase without understanding the brand or brands digital presence and positioning. Simply put, as a business owner in a digital era, to sustain in a competitive market, you need to focus on your business’s digital operations and digital transformation while moving forward with current trends. What really is Digitization? Theoretically understood, digitization is the process of integrating and transference of digital technologies and tools into your business strategy and management. A digital transformation may certainly be subjective to your business and many segments of business may not benefit from a digital transformation as such, but it is vital and extremely necessary for every segment to have some factor of digital presence to thrive in this very digital era. Putting the Covid-19 pandemic into perspective, digitization is the best opportunity to go for your business with better customer experience, at home comfort services, real-time demand and supply of your product or service along with convenient consumer relationship management. These technologies help boost your sales, increase your impression, help reach more and more consumers with enhancing your business and market value and positioning. <keyword id="6357550" type="PERSON" weightage="20" keywordseo="Digitisation">Digitisation</keyword> can also help small business reach out to a wide audience, not only in India but across the globe. Advantages of Digitization Excellent Business Catalyst: Digitization of your business is the key to take your business to another level. To begin with digital tools &amp; data enables you in making better and efficient decisions, it improves your business productivity and aids in reducing costs at a primary level. Adding to the benefits, digitization also help increase innovation of your product and service. Within a competitors market, you get to research, develop, understand your business, provide better value to your audience and enable more and more sales with your digital game. Digitalization of your business transforms your brand awareness and reach to unnumerable heights through presences on various platforms such as Social media networks, Google Business, <keyword id="4936066" type="COMPANY" weightage="20" keywordseo="whatsapp-business">WhatsApp Business</keyword>, Websites, Mobile Applications etc. These valuable platforms make your marketing activities easy, help you reach your target audience and boost your brand awareness and building, beyond your desires. Better Networking: Believe it or not, digitization of your business can aid your networking of audiences, sellers, agents and what not! With your digital presence on various sites and social media platforms, you not only your target audience but also get to explore and reach more audiences and consumers ideal to your product or service. With convenient advertisement and boosting options on all platforms, reaching new audiences and interested consumers, is a cake walk indeed. All you need to do is dissect and choose the right platform and right advertisement type for your product. Such digitalization is steppingstone for any business to survive in today’s time with the prevalence of the pandemic and your consumers not able to shop physically from you. Such digitalization enables your consumer to stay connected with you, makes purchases with you, boost your sales, and enables you to reach more and more audiences. With the existence of online knowledge sharing &amp; communal discussion forums, groups &amp; platforms, you get to witness first-hand of the innovations, trends, new channels or sites to sell your product, connect with the peers of your industry and stay up to date with all the possible news and experiences of your business segment. Such digitalization of your business is a win-win situation! Advanced Working Conditions: With the digitization of your business, the output and delivery of your work force in many areas is improved and enhanced automatically. Digitization of your business directly requires your business’s work force to update their skill set and stay in trend with all the latest developments and improvements in technologies. Such upgrade of skill sets and knowledge leads to efficiency in work thereby delivery quality in work. With the upgrade in skills of the work force, internal communications, knowledge and value sharing also increased and eased amongst various internal teams aiding to efficiency in work and work output. Digitization of your business thereby maintains consistency of quality for your business. As we understand in this ever evolving era, the digital world is the only thing constant witnessed by us especially at the times of a pandemic. With its innumerable benefits for your business, digitization is need of the hour for every business segment to understand its advantages and positive effects on your business to sustain, boost, and achieve milestones for your brainchild. Transform your business now with the noble digital era! - This column has been authored by Dhananjay Arora, CEO, Kwebmaker Digital Agency

Digitization: Key to transforming your business in today’s time

<keyword id="23764" type="COMPANY" weightage="20" keywordseo="global">Global</keyword> software major <keyword id="10875" type="CITY" weightage="20" keywordseo="IBM">IBM</keyword> would digitise Bengaluru international airport operations to transform fliers experience, said its operator on Wednesday. "We have entered into a 10-year partnership with IBM's 's global business services arm to digitise our IT network for operating the Kempegowda airport," said <keyword id="436900" type="COMPANY" weightage="20" keywordseo="Bangalore-International-Airport-Ltd">Bangalore International Airport Ltd</keyword> (<keyword id="56145" type="COMPANY" weightage="20" keywordseo="BIAL">BIAL</keyword>), a public-private consortium that operates the country's third largest airport, in a statement here. Red Hat automation and Kyndryl, an entity of IBM's managed infrastructure services business, will partner with the US-based IT behemoth to create an airport in a box platform to transform the travel experience of passengers. "As one of the fastest-growing airports, we needed a nimble, scalable and cost-competitive technology to handle growth in passenger traffic in the future, with operational flexibility," said the operator. The new platform is expected to improve the operator's employee productivity, better utilisation of its IT assets, reduce costs through inventory control and improved incident management. "The IBM platform will support the operator's business growth and generate AI (artificial intelligence)-powered insights from IBM Maximo enterprise asset management technology to optimise inventory management and the cost of ownership," said BIAL in the statement. When the platform goes operational and enhances travel experience of fliers, the twin partners plan to advance the platform for the transformation of global travel and transportation industry. "The partnership with IBM is part of our vision to make the airport smart, digitised, connected and intuitive," said BIAL chief executive Hari Marar on the occasion. IBM works with about 150 airports worldwide and has a history of helping airports, airlines and the aviation industry to innovate and transform. "The project capitalises on our ability to deliver advanced technologies and services that enable airport operators to transform their business," said IBM services Vice President <keyword id="146243" type="PERSON" weightage="20" keywordseo="Mark-Foster">Mark Foster</keyword> in the statement. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/glenmark-life-sciences-ipo-important-dates-and-information-and-ceo-interview/articleshow/84616323.cms">Glenmark Life Sciences IPO is nearly as big as its debt but the funds will go into expanding its plants</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/bitcoin-crashed-to-below-30000-and-managed-to-recover/articleshow/84611982.cms">Bitcoin crashed to below $30,000 and managed to recover — but FUD still shadows the market</a>

Software major IBM to digitise Bengaluru international airport operations, says BIAL operator

Strong acceptance of e-commerce and digitisation is expected to accelerate the growth of India's auto sector, advisory firm Grant Thornton Bharat said. Accordingly, India's automobile market is estimated to grow more than '2.3X' from $222 billion currently to $512 billion by 2026. Notably, the analysis by Allied Market Research, Market Line, <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> and Grant Thornton Bharat showed that e-commerce portals focused on the automobile market, such as <keyword id="2947589" type="PERSON" weightage="20" keywordseo="Droom">Droom</keyword>, <keyword id="1945738" type="PERSON" weightage="20" keywordseo="Cardekho">Cardekho</keyword>, <keyword id="11077358" type="UNKNOWN" weightage="20" keywordseo="and-olx">and Olx</keyword> have put consumers and the user experience in the spotlight helping the manufacturers attract more users. Besides, the growing base of internet and smartphone users will further boost the digital transformation, and lead to an <keyword id="6374534" type="UNKNOWN" weightage="20" keywordseo="increase">increase</keyword> in expanding the market size of the e-commerce portals. "The strong emergence and acceptance of the online channel have provided an impetus to seamless solutions, price discovery, transparency, digital real-time payments along with certification on the quality of the vehicle for the consumers in the auto sector," said Rahul Kapur, Partner, Growth at Grant Thornton Bharat. According to the analysis report, since last year, Maruti Suzuki saw a five-fold increase in <keyword id="6357824" type="UNKNOWN" weightage="20" keywordseo="sales">sales</keyword> through digital means which now stand at 20 per cent of their total sales. "These changes in consumer's buying and research preferences signal a shift for the auto sector, as Covid19 played a big part in the online channel gaining traction." "Technology-enabled innovations like secure digital payments, hyper-logical logistics, analytics-driven customer engagement, increasing consumer awareness and digital advertisements are likely to support the growth going forward." As per the report, other factors such as rising middle class and young population with increasing disposable incomes will contribute towards growing the sector. Furthermore, ease of owning a vehicle through the availability of multiple financing options as well as reduction in vehicle ownership tenure due to regulatory rules in some states, cited the report as other growth inducing factors. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/nokia-x20-specifications-nokia-new-phones-price-in-india/articleshow/81981039.cms">Six new Nokia smartphones announced – price, specifications and availability details you should know</a> <a href="https://www.businessinsider.in/business/startups/news/founders-take-note-heres-why-most-startups-fail/articleshow/81981138.cms">Founders, take note: here’s why most startups fail</a> <a href="https://www.businessinsider.in/tech/apps/news/google-phone-app-now-lets-you-record-calls-automatically-from-unknown-numbers/articleshow/81982791.cms">Google Phone app now lets you record calls automatically from unknown numbers</a> <a href="https://www.businessinsider.in/business/startups/news/adar-poonawalla-serum-institute-of-india-has-bought-stake-policybazaar/articleshow/81985425.cms">Serum Institute of India buys into IPO-bound insurance unicorn PolicyBazaar, as True North sells part stake in secondary sale</a>

E-commerce and digitisation to accelerate India's auto sector growth, says report

New Delhi, July 13 (IANS) Google CEO Sundar Pichai on Monday announced a Google for India digitisation fund through which, the company will invest Rs 75,000 crore or approximately $10 billion over the next five to seven years to help India go digital. "We will do this through a mix of equity investment, partnerships and an operational infrastructure ecosystem in India. This is a reflection of our confidence in the future of India and its digital economy," Pichai said during the Google for India virtual conference. The investment will focus on four areas important to India's digitisation-- first enabling affordable access to information to every Indian in their own language. "Second, building new products and services that are deeply relevant to India's unique needs. Third, empowering businesses to continue or embark on digital transformation. And fourth, leveraging technology and Artificial Intelligence for social good in areas like health, agriculture and education," the Google CEO said. India's Union IT Minister Ravi Shankar Prasad were also present during the conference. --IANS gb/na

Google to invest Rs 75,000 crore to boost digitisation in India

New Delhi, Nov 29 () IT services major Infosys on Friday said it has inked an agreement with Australian federal government's Services Australia to transform the entitlement calculation engine for the nation's welfare system.
 The project will enable Services Australia to more quickly implement policy changes for the benefit of Australians without disrupting services and deliver operational cost savings, a statement said.
 The Welfare Payment Infrastructure Transformation (WPIT) programme will replace a significant portion of Centrelink's 30-year-old platform, modernising the way Services Australia calculates entitlements for Australians needing government support, it added.
 No financial details of the partnership were disclosed.
 Infosys said it was selected by Services Australia following a comprehensive Competitive Dialogue phase which demonstrated a rigorous risk-mitigation strategy to deliver the innovative new solution.
 The phase I agreement is for Infosys to create a proof of design and is expected to be completed by mid-2020.
 Subject to further approval, Phase II of the project will encompass the build, implementation, and support for the new ECE, the statement said.
 The Infosys Australia technical team will service the project, led by its expanding Canberra office.
 "With the technology and technical skills of our 5,500 strong team here in Australia, as well as the unique global expertise from similar projects which we can draw upon, Infosys is well placed to add value to Services Australia and enhance the outcomes of the project for all Australians," Infosys Senior Vice President and Region Head Australia and New Zealand Andrew Groth said. SR SHW
SHW

Services Australia partners Infosys to digitise welfare entitlements

<ul><li>Considering no one knows when normalcy will resume, traditional job seekers in rural and urban areas need to adapt to digital processes, highlighted Sridhar Vembu, founder of Zoho.</li><li>Jayesh Ranjan, IT Secretary of Telangana said that 68% of MSMEs did not have an e-mail id 5 years back, which was disheartening.</li><li>To bring some balance between rural and urban jobs, more economic activity has to happen at the rural level, particularly high paying <keyword id="1077059" type="PERSON" weightage="20" keywordseo="Technology-jobs">technology jobs</keyword> have to be moved to <keyword id="6361659" type="UNKNOWN" weightage="20" keywordseo="Rural-Areas">rural areas</keyword>, added Vembu.</li></ul>To push India towards digitisation, while addressing the people on the nation’s 74th Independence Day, Prime Minister Narendra Modi announced that in the next 1,000 days (i.e. by May 2023), nearly 6.5 lakh Indian villages will be connected with optical fibre to get improved connectivity. But India’s businesses, especially the smaller ones, have still not embraced a connected world. In a recent virtual event organised by Business Insider for small businesses -- <keyword id="4106334" type="ORGANIZATION" weightage="20" keywordseo="msme-exchange">MSME Exchange</keyword> -- Sridhar Vembu, founder of software-as-a-startup (SaaS) firm Zoho shared a relevant example for businesses struggling to move digital. “For a community of singers who perform music in the temples of south India for several functions, singing in temples is their main source of income. They have now witnessed a major decline in [their] regular income. For us, clearly these people can organise online events, but the point is they don’t know how to. To perform music online, audio needs to be properly tuned with softwares and much more. Further, considering we do not know when normalcy will resume, these traditional job seekers need to learn digital processes,” said Vembu. According to a report by World Economic Forum -- Indian Cities in the Post Pandemic World, released on January 7, 2021 -- about 70% of India's gross domestic product (GDP) comes from its cities and around 25-30 people migrate to cities from rural areas every minute. The development model of India in the last 20-30 years has been very urban centric where one has to bring talent out of villages into cities. Vembu feels, in this process, we are overcrowding urban areas and leaving rurals empty which is not good. “So to bring some balance to this situation, more economic activity has to happen at the rural level, particularly high paying technology jobs have to be moved to rural areas. The idea is to create jobs for people who otherwise might have to shift to urban areas,” says Vembu. Jayesh Ranjan, the information technology (IT) secretary of Telangana, highlighted a survey that said 68% of India’s MSMEs did not have an email address five years back, which is very disheartening to hear. He feels that MSMEs can benefit from technology and it is only a matter of mindset holding them back. If unfortunate circumstances like a pandemic come up, dramatic changes can literally happen overnight. He cited an example of how the government and Confederation of All India Traders (CAIT) literally converted thousands of kirana (mom and pop) stores into online stores overnight. “They created their website, inventory, payments getaways and so on,” said Ranjan. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/twitter-is-giving-away-140-free-nfts-to-followers-and-theyre-not-available-any-other-way/articleshow/84010546.cms">Twitter is giving away 140 free NFTs to followers — and they’re not available any other way</a> <a href="https://www.businessinsider.in/business/startups/news/new-technology-is-putting-conventional-jobs-out-of-business-msme-exchange-panelists-highlight-on-how-it-helps-in-the-long-run/articleshow/84013275.cms">New technology is putting conventional jobs out of business -- MSME Exchange panelists highlight on how it helps in the long run</a> <a href="https://www.businessinsider.in/business/startups/news/swiggy-coo-vivek-sunder-will-be-exiting-the-company-by-october/articleshow/84010468.cms">Swiggy COO Vivek Sunder will be exiting the company by October, CEO Sriharsha Majety may take over</a> <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-stocks-tank-after-march-quarter-results/articleshow/84010118.cms">Vodafone Idea shares in deep red as an uncertain future looms</a>

Digitisation push for small businesses could create technology jobs in rural areas, say Business Insider’s MSME Exchange panelists

<ul><li>The Indian Government plans to roll out the '<keyword id="7806209" type="UNKNOWN" weightage="20" keywordseo="one-nation-one-ration-card">One Nation One Ration Card</keyword>' initiative to digitise its <keyword id="89442" type="ORGANIZATION" weightage="20" keywordseo="Public-distribution-system">Public Distribution System</keyword> (PDS). </li><li>India's <keyword id="211957" type="POSITION" weightage="20" keywordseo="Union-food-minister">Union Food Minister</keyword> claims that the new initiative will curb corruption and be a boom for migrant labourers. </li><li>The <keyword id="7809934" type="UNKNOWN" weightage="20" keywordseo="Integrated-Management-of-PDS">Integrated Management of PDS</keyword> (IMPDS) will be real time database to track monthly benefits akin to the GSTIN that's already in place to manage India's Goods and Services Tax. </li></ul>The Public Distribution System (PDS) in India, a program by the government to ensure food security for all its citizens, in undergoing some changes with the implementation of the '<a href="https://timesofindia.indiatimes.com/india/centre-to-roll-out-one-nation-one-ration-card/articleshow/69982372.cms">One Nation One Ration Card'</a> initiative. <keyword id="973" type="PERSON" weightage="20" keywordseo="Ram-Vilas-Paswan">Ram Vilas Paswan</keyword>, the Union Food Minister, claims that the new Integrated Management of PDS (IMPDS) will curtain corruption in the system by removing the chances for duplication. So, if a particular beneficiary holds more than one ration card, they will no longer be able to collect ration more than once just because they travel to a different state. The government will also be able to keep an eye on the monthly entitlements and how much of the food grains are actually being used by the beneficiaries. This holds in line with government's attempts to digitise its processes. It has already set up point-of-sale (PoS) machines at PDS shops to help with cashless transactions. Who has the most to gain? Paswan claims that migrant labourers have the most to gain from the new scheme stating, "They will have full food security. This will also provide freedom to the beneficiaries as they will not be tired to any one PDS shop." The IMPDS will be a real time database — inspired and augmented from the government's Goods and Services Tax Integrated Management (GSTIN) — that support these efforts. As of now, it's already operational in 10 Indian states — Andhra Pradesh, Gujarat, Jharkhand, Karnataka, Kerala, Maharashtra, Rajasthan, Telangana and Tripura. PDS is still far from perfect The importance of PDS in India lies in the fact that it allows the poor to purchase food grains from the government at prices lower than the market rate while also allowing farmers to sell their crop directly to the government as per a pegged 'fair price'. PDS has come under heavy criticism in the past of allowing food grains to go bad when they've been left in warehouses for too long without the proper storage facilities, not being efficient in delivering food grains from the warehouses to the PDS ration shops, and being unable to accurately determine how to define 'poor' as a criteria. And, because the government promises to buy all incoming grains from farmers, it can sometimes be at the cost of creating a shortage in the open market leading to higher prices for the public at large. The new system may address the problem of duplication but the issue of different departments using different criteria to determine the poor is a bane of everyone involved. In some states, like Haryana and the union territory of Puducherry, the state departments have opted for Direct Benefits Transfer (DBT) — akin to the system that's already in place for LPG gas — and has seen encouraging results.

India has plans to roll out 'One Nation One Ration Card' to curtail corruption in the public distribution system

<ul><li>India is the second fastest growing digital economy according to McKinsey, a management consulting company that analyses decisions in the public and private sector. </li><li>Digitisation of the Indian economy could result in a $435 billion contribution towards the country’s GDP. </li><li>That opportunity is dependent on reskilling the workforce, digital adoption of private companies and the policies implemented by the government.</li></ul>India is digitising faster than all other countries except one — and it’s not China. Between 2014 and 2017, India has grown 90% in terms of digitisation, second only to Indonesia, which showed a growth of 99%. In absolute terms, India is still behind most developed nations like South Korea, Sweden and the UK, but its digitisation growth rate creates a $435 billion opportunity by 2025, said a McKinsey’s <keyword id="1929810" type="PERSON" weightage="20" keywordseo="Digital-India">Digital India</keyword> report. With that growth, come 65 million in jobs. But since the nature of work is going to change because of digitisation, a lot of employment opportunities will require new skills. McKinsey estimates that nearly 45 million workers will need retraining and redeployment. The primary reasons for this is that there will be a need for digital literacy across the board and future jobs will require workers to be more skill intensive. So, it’s not just about the new job market but also about transforming the education system to create effective training programs at the most basic of levels so that the upcoming generation is equipped to fully take advantage of these opportunities. McKinsey estimates that India’s jobs and skills sector is estimated to grow to $70 billion by 2025, second only to financial services. And the education sector is estimated to grow to $50 billion. 
	
	
	<div type="image" title="india&amp;#39;s growth potential" msid="68686516" hostid="261" caption="&amp;lt;p&amp;gt;India&amp;#39;s growth potential by sector&amp;lt;/p&amp;gt;"></div>







 However, that growth could slow down due to ineffective government policies and low private sector participation. 
 
 
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 So far, both the public and private sectors have been an impetus to growth of digital consumption. Telecom operators have brought in cheaper data plans and government’s <keyword id="144117" type="ORGANIZATION" weightage="20" keywordseo="AADHAAR">Aadhaar</keyword> biometric digital identity programme enrolled nearly 1.2 billion citizens. The firms have gone down the road of digitisation are pulling ahead of their peers at a faster rate. 
 
 
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 But, according to the <keyword id="496755" type="PERSON" weightage="20" keywordseo="McKinsey-report">McKinsey report</keyword>, digitisation in private sector, while rapid, is largely uneven. 
 
 
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 It’s not about the size of the business since large firms are ahead of the curve by employing technology at scale, like research into emerging technologies, and small businesses are more accepting of digital payments. It’s more about the level of digital strategy, organisation and capability of individual firms. Unlocking the digital potential of India’s economy is going to require widespread adoption and implementation. From supply chains to shop floors, McKinsey estimates that the economic value created will be proportional to the extent to which digitisation takes place. Currently, only 40% of India’s population has access to the Internet and 90% still uses cash as their primary mode of conduction financial transactions. Even when it comes to shopping, only 5% of transactions are conducted online. See also: <a href="https://www.businessinsider.in/data-protection-for-indian-businesses-inadequate/articleshow/68613117.cms">Indian companies know how to sell data but not how to protect it</a> <a href="https://www.businessinsider.in/big-data-and-analytics-may-be-the-hottest-sector-but-india-has-a-serious-dearth-of-data-scientists/articleshow/66860305.cms">Big data and analytics may be the hottest sector, but India has a serious dearth of data scientists</a> <a href="https://www.businessinsider.in/indian-corporates-are-not-prepared-to-take-on-cyber-attacks-report/articleshow/68041682.cms">A majority of Indian corporates are unprepared for cyber security challenges: Report</a>

India is digitising fast but the pace is leaving many behind

New Delhi, Feb 27 () Economic think-tank NCAER on Thursday said Madhya Pradesh, Odisha, Maharashtra, Chhattisgarh and Tamil Nadu are the top states in terms of digitisation of land records and their quality. Releasing the new NCAER Land Records and Services Index (N-LRSI 2020), the National Council of Applied Economic Research (NCAER) said the data will energise land governance in India. Scoring 60-75 points, Madhya Pradesh, Odisha, Maharashtra, Chhattisgarh and Tamil Nadu were the five best-performing states on the N-LRSI. West Bengal, Jharkhand, Rajasthan, Telangana, Andhra Pradesh and Uttar Pradesh were the six states in the 50-60 points category. Those trailing included Ladakh, Jammu &amp; Kashmir, Sikkim, Chandigarh, Kerala, Assam, Manipur, Delhi and Bihar. "Over the years, different states have made significant progress in making their land records digitally available to citizens," NCAER said in a statement. The N-LRSI aims to understand the extent of this progress and existing gaps and to identify measures to improve land records in each state. The economic research body said access to land is a critical factor for economic growth and poverty reduction. For government, industry, and citizens to be able to use this asset effectively and to minimise disputes, it is important to have access to reliable land and property records. The 2020 N-LRSI is based on data collected over 2019-20 on two aspects of the supply of land records -- the extent of digitisation of land records and the quality of these land records. Delivering his keynote remarks at the launch of N-LRSI 2020, Ramesh Abhishek, former secretary, Department for Promotion of Industry and Internal Trade, said: "The N-LRSI is an excellent reality check on the status of land records and their accessibility in various states." This brings out the strengths and area of improvement for the government agencies and makes very practical recommendations on way forward. Central and state governments should pay utmost attention to the findings of the index and tailor their policies and programmes accordingly, he said. NCAER Director General Shekhar Shah said the N-LRSI is timely, pioneering work and is already attracting policymaker attention at the central and state levels. "It will help formulate state action plans to attain the goal of secure, assured land records that mirror ground realities and are generated by efficient titling services," he said. KPM ABM

You Searched For "Digitisation" and got 13 results

Data privacy issues, online frauds emerging as e-commerce growth hurdles: Eco Survey

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The CEO who believes that there’s a lot more to digitise at banks

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Sundar Pichai reiterates his confidence in India, says Google will build more products in India for the world

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Digitization: Key to transforming your business in today’s time

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Software major IBM to digitise Bengaluru international airport operations, says BIAL operator

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E-commerce and digitisation to accelerate India's auto sector growth, says report

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Google to invest Rs 75,000 crore to boost digitisation in India

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Services Australia partners Infosys to digitise welfare entitlements

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Digitisation push for small businesses could create technology jobs in rural areas, say Business Insider’s MSME Exchange panelists

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India has plans to roll out 'One Nation One Ration Card' to curtail corruption in the public distribution system

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India is digitising fast but the pace is leaving many behind

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MP tops in land records digitisation, followed by Odisha, Maha, Chhattisgarh, TN: NCAER

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