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<ul><li>Companies and firms with branches in different states now have a new headache to deal with – charging <keyword id="6354679" type="General" weightage="100" keywordseo="gst" source="Orion">GST</keyword> on salaries of their head office staff. </li><li>Experts suggest that this will effectively make salaries taxable under the purview of GST, which is in contradiction with the law. </li><li>This could also lead to a flurry of notices from the GST authorities, and litigation that can be avoided. </li></ul>The GST (Goods and Services Tax) regime requires firms to take separate registration for each state, and common expenses incurred by the head office, like marketing, advertising, legal services and travel expenses, for instance, are to be distributed to branch offices, usually based on their respective turnovers. Now, a <a href="https://economictimes.indiatimes.com/news/company/corporate-trends/aaar-ruling-on-salary-to-impact-head-office-branch-gst-dynamics/articleshow/88938019.cms">new tax ruling</a> says the same shall apply to salaries paid to head office employees for the services provided to branch offices. Essentially, if you are in the Delhi head office of a company and your <keyword id="10876" type="General" weightage="20" keywordseo="salary" source="Orion">salary</keyword> is ₹10,000 a month, your company has to say how much of the money paid to you is attributable to services rendered to, say, the Kolkata branch office. And, pay GST on that part of the salary. While the employees don’t have to worry about this, the finance team will have a new headache. Experts say this will create confusion and unnecessary litigation. “Salary is not under the purview of the GST law. This AAAR ruling essentially makes salaries taxable under GST, which is contradictory to the provisions of the law,” <keyword id="3183501" type="General" weightage="20" keywordseo="jatin-arora" source="Orion">Jatin Arora</keyword>, partner, <keyword id="3460452" type="General" weightage="20" keywordseo="phoenix-legal" source="Orion">Phoenix Legal</keyword>, told Business Insider. There was a <a href="https://taxguru.in/goods-and-service-tax/gst-implications-inter-unit-service-cost-cross-charges.html">similar ruling</a> from Karnataka Authority of Advance Ruling 2019. The union government had said that it would provide a clarification in this matter but nothing has come through so far. “As per Schedule I, only supply of goods and services between related parties would be subject to tax, whether with or without consideration. However, cost allocation is different from supply of service, and this would not fall under the purview of supply,” <keyword id="3063029" type="General" weightage="20" keywordseo="Abhishek-Rastogi" source="Orion">Abhishek Rastogi</keyword>, partner, <keyword id="908387" type="General" weightage="20" keywordseo="khaitan-co-" source="Orion">Khaitan &amp; Co.</keyword>, told Business Insider. He also further explained that this means that any cost allocation – in this case, salaries of head office staff – would not be taxable under GST. Maharashtra AAAR’s ruling is a result of a request filed by Cummins India, seeking clarity on whether it should charge GST on allocation of salaries of its head office staff to branches. “Due to this, there will be unnecessary confusion, leading to notices from the department and litigation,” Arora added, stating that the government should issue a clarification at the earliest to avoid a flurry of notices from the tax department to firms across the country. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/tesla-india-prospects-get-a-boost-as-states-compete-with-each-other-to-invite-elon-musk-to-their-backyard/articleshow/88890951.cms">Tesla India prospects get a boost as states compete with each other to invite Elon Musk to their backyard</a> <a href="https://www.businessinsider.in/stock-market/news/hcl-technologies-shares-down-7-as-employees-are-leaving-the-firm-at-a-faster-rate-than-ever-before/articleshow/88944681.cms">The street is dumping HCL Tech shares because its employees are leaving at a faster rate than ever before</a> <a href="https://www.businessinsider.in/policy/legal/news/can-you-claim-input-tax-credit-on-csr-expense-three-authorities-have-two-different-rulings/articleshow/86609122.cms">Can you claim input tax credit on CSR expense ⁠— three authorities have two different rulings</a>

GST on salaries? A new ruling can cause a lot of confusion and litigation

<keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword> Ventures Limited (RRVL), <keyword id="6436290" type="UNKNOWN" weightage="20" keywordseo="just-dial">Just Dial</keyword> and <keyword id="614985" type="COMPANY" weightage="20" keywordseo="vss-mani">VSS Mani</keyword> and others on Friday executed definitive agreements which will entail preferential allotment of 2.12 crore equity shares, equivalent to 25.33 per cent post preferential share capital, at a price of <keyword id="11656458" type="UNKNOWN" weightage="20" keywordseo="rs-1022-25">Rs 1,022.25</keyword> per share. Post the agreements, <keyword id="6484187" type="COMPANY" weightage="20" keywordseo="ril">RIL</keyword> will acquire 1.31 crore equity shares by RRVL from VSS Mani (equivalent to 15.62 per cent post preferential share capital) at a price per share of Rs 1,020. RRVL will hold 40.95 per cent and would make an open offer to acquire up to 26 per cent stake in accordance with takeover norms. RRVL would make a public announcement to the public shareholders of Just Dial to acquire up to 2.17 crore equity shares of Just Dial, representing 26 per cent in accordance with <keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword> takeover regulations, RRVL said in a statement. VSS Mani shall continue as Managing Director and Chief Executive Officer to lead Just Dial through the next phase of growth. The capital infused by RRVL will help drive the growth and expansion of Just Dial into a comprehensive local listing and commerce platform. Just Dial would expand discovery on its platform and enhance transactions for millions of products and services. These investments will leverage Just Dial's existing database of 30.4 million listings and its existing consumer traffic of 129.1 million quarterly unique users (as on March 31, 2021). Speaking on the transaction, Isha Ambani, Director of RRVL, said: "Reliance is excited to partner with Justdial and VSS Mani, a first-generation entrepreneur, who has created a strong business through his business acumen and perseverance. The investment in Just Dial underlines our commitment to New Commerce by further boosting the digital ecosystem for millions of our partner merchants, micro, small and medium enterprises. We look forward to working with the highly experienced management team of Just Dial as we further expand the business going forward." Mani, Founder and CEO of Justdial, said: "Nearly 25 years ago, we had a vision to build a connected single platform dedicated to providing fast, free, reliable and comprehensive information to our users and connect buyers to sellers. Our vision has evolved to not only provide search and discovery but drive commerce across merchants through our B2B platform and enable further consumer to merchant commerce given our platform engagement. Our strategic partnership with Reliance enables us to realize this vision and transform the business going forward." The transaction is subject to shareholder and other customary closing conditions and approvals. Morgan Stanley acted as financial advisor, JM Financial as manager to the open offer, <keyword id="11656457" type="UNKNOWN" weightage="20" keywordseo="shardul-amarchand-mangaldas-and-khaitan-co">Shardul Amarchand Mangaldas and Khaitan &amp; Co</keyword> as legal advisors and Deloitte as accounting and tax advisors to RRVL. Goldman Sachs acted as exclusive financial advisor, Cyril Amarchand Mangaldas as legal advisor and Ernst &amp; Young provided tax advisory and diligence services to Just Dial and its promoters. SEE ALSO - <a href="https://www.businessinsider.in/tech/news/netflix-plans-to-add-video-games-to-its-categories/articleshow/84433119.cms">Netflix will reportedly add video games on its platform ‘within the next year’</a> <a href="https://www.businessinsider.in/business/corporates/news/just-dial-share-price-surge-as-mukesh-ambani-is-looking-to-buy-just-dial/articleshow/84432450.cms">As Mukesh Ambani reportedly dials in, Just Dial stocks surge 3%</a>

Mukesh Ambani's Reliance Retail to buy majority stake in Justdial, VSS Mani to continue as MD and CEO

On March 1, India’s <keyword id="6378893" type="UNKNOWN" weightage="20" keywordseo="market-regulator">market regulator</keyword> proposed a series of changes to norms guiding <keyword id="6373267" type="UNKNOWN" weightage="20" keywordseo="Independent-Directors">independent directors</keyword> on the boards of companies. One of the biggest changes, in <a href="https://www.sebi.gov.in/media/press-releases/mar-2021/sebi-issues-consultation-paper-on-review-of-regulatory-provisions-related-to-independent-directors-_49337.html">the consultation paper from the Securities and Exchange Board of India</a> (<keyword id="35210" type="COMPANY" weightage="20" keywordseo="sebi">SEBI</keyword>), is the need for approval from <keyword id="6418655" type="UNKNOWN" weightage="20" keywordseo="minority-shareholders">minority shareholders</keyword> to appoint or remove an independent director from the board. Independent directors are appointed as watchdogs who are expected to ensure balanced decisions by the <keyword id="136326" type="COMPANY" weightage="20" keywordseo="Board-of-Directors">Board of Directors</keyword> and to deter fraud. In India, one out of every three directors in every board has to be ‘independent’ and they are appointed for a period of 5 years. “In the recent past, some listed companies have faced shareholder resistance in having non-executive directors re-appointed, but these are relatively rare in the Indian context,” Arka Mookerjee, partner at law firm J Sagar Associates, said in a statement to Business Insider. The new provision is intended to ensure that small shareholders are not shortchanged but there may be a way around, still. “The provision may be somewhat diluted in practice through the secondary approval route through special resolution after 120 days,” Mookerjee added. The regulator wants to increase the stake for independent directors SEBI has also proposed profit-linked commissions and long-term stock options for independent directors. In the past, India has seen a small pool of people being roped in for this role. Consequently, their compensation had gone up significantly. The number of independent directors charging over ₹1 crore from a company, annually, had <a href="https://economictimes.indiatimes.com/news/company/corporate-trends/more-independent-directors-earn-in-crores-now/articleshow/72376510.cms?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=Marketnewsletter&amp;ncode=a5ac7b13cca2a539099c8159781874b1">reportedly</a> gone up over four fold from 21 at the end of March 2013 to 89 at the end of March 2019. By giving them long-term stock options, the regulator may want to increase the director’s vested interest as a stakeholder in the company, which, according to Mookerjee, “would ultimately change the viewpoint of the directors and their relationship with the listed company.” Independent directors need to earn the shareholders’ trust From the <keyword id="10958" type="LOCATION" weightage="20" keywordseo="Satyam">Satyam</keyword> scam that exploded in 2009 to the one at IL&amp;FS (in 2017), and beyond, the role of independent directors has come under scrutiny too many times. A <a href="https://www.thehindu.com/business/Industry/independent-directors-not-really-independent/article33419736.ece">recent survey</a> showed that nearly four out of every five shareholders suspect the ‘independence’ of these directors. As Prithvi Haldea, the founder chairman of <keyword id="198574" type="COMPANY" weightage="20" keywordseo="Prime-Database">Prime Database</keyword> (a firm that provides data on Indian capital markets), recently argued, the position of independent director is often filled by, what he calls, <a href="https://www.financialexpress.com/opinion/independent-directors-a-new-paradigm-in-corporate-governance/2136744/">“home directors”</a> ⁠i.e. friends, ex-colleagues, extended relatives, and, even, neighbours. “The independence of such promoter-appointed independent directors is questionable as it is unlikely that they will stand-up for minority interests against the promoter,” Kalpana Unadkat and Pranay Bagdi at law firm <keyword id="558469" type="COMPANY" weightage="20" keywordseo="Khaitan-Co">Khaitan &amp; Co</keyword>, <a href="https://www.acc.com/resource-library/top-ten-issues-corporate-governance-practices-india">wrote in 2017</a>. The authorities have brought in a series of changes, in recent years, to the norms to provide some added sanctity to the role. Some of the restrictions in place to ensure the neutrality of an independent director include, <ul><li>a person cannot continue as an independent director for more than 2 consecutive terms. </li><li>a person can be an independent director in, at most, seven listed companies at a time.</li><li>any vacancy in the office of independent director shall be filled by the next board meeting, or within 3 months of such vacancy, whichever is later.</li></ul>In October 2019, an online database of all existing and eligible independent directors was created. The government also introduced a proficiency qualification examination for independent directors, mandating a minimum score of 60% for any individual to qualify for appointment. The move <a href="https://www.moneylife.in/article/independent-directors-exam-marksheet-dikhao/61993.html">faced</a> a lot of backlash from the industry. SEBI has invited comments from the public, on its latest proposals, until April 1, 2021. SEE ALSO: <a href="https://www.businessinsider.in/india/news/new-electricity-late-payment-surcharge-rules-announced-but-consumer-electricity-bills-may-not-decrease/articleshow/81286847.cms">New electricity late payment surcharge rules announced – but consumer electricity bills may not decrease</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-allotment-status-of-heranba-industries-ipo/articleshow/81286739.cms">Heranba Industries IPO: Here is how to check share allotment status</a> <a href="https://www.businessinsider.in/india/news/indians-are-heading-back-to-parks-supermarkets-and-pharmacies-but-malls-and-theatres-are-not-on-the-priority-list/articleshow/81271614.cms">Indians are heading back to parks, supermarkets and pharmacies — but malls and theatres are not on the priority list</a>

Companies in India may soon need approval from minority shareholders to appoint or remove an independent directors

<ul><li>Despite it being a year when people are social distancing and staying away from socializing or meeting friends and relatives, Urban Company has managed to convince people about the safety of its services, thereby resulting in people welcoming them into their homes.</li><li>It is this focus on safety and also the brand's continuous reiteration of its safety protocols in its communications that has won people's trust. It is already witnessing a resurgence in demand in most of its services categories.</li><li><keyword id="2144064" type="PERSON" weightage="20" keywordseo="Tarun-Menon">Tarun Menon</keyword>, Director-Marketing, Urban Company spoke to us about all that the brand has been doing to get back into the hearts and homes of its consumers in this difficult year.</li></ul>Home services marketplace Urban Company (UC) has a good run so far this year. Not only has it seen good recovery in business during the various unlock phases, the platform also expects to see its revenue double in the current fiscal over last year. While the first few months of the lockdown meant that there was a complete shutdown for its business, owning to the fact that it offers in-home services, things are slowly falling into place now as consumers are again opening up to the idea of letting people into their homes. What is helping the brand get back on its feet is the fact that it has been focusing on offering safe at-home services and has been using its marketing campaigns to convey messages around how safe its services are. With the help of a brand ambassador like <keyword id="6354535" type="PERSON" weightage="20" keywordseo="ayushmann-khurrana">Ayushmann Khurrana</keyword> who people connect with instantly, the brand has been able to win over its consumers’ trust and is already seeing positive results. In a recent conversation with Ad &amp; Media Insider, Tarun Menon, Director-Marketing, UC walked us through all that the brand has been doing to get back into the hearts and homes of its consumers. The year so far The year has been challenging for most businesses across the world. However, what differentiates the ones who have been able to bounce back from the ones that are still struggling to find their footing is their agility and the rate at which they were able to adapt to changing consumer sentiments and demands. Owing to the fact that UC offers in-home services, it meant that it would take the platform some convincing before people opened up their doors to the platform’s partners. However, things have been moving in a positive direction for the past few months as the brand has been witnessing consistent growth. Urban Company Co-founder <keyword id="3012564" type="PERSON" weightage="20" keywordseo="Varun-Khaitan">Varun Khaitan</keyword> stated in a recent interview that despite the months of lockdown, they are already crossing their pre-COVID peak by more than 30%. He also shared his optimism about seeing 2X growth in FY21 over FY20. On how things were right after the lockdown, and during the early phases of Unlock, Menon told us, “The first 2 months were quite a struggle, like all other businesses. However, the first categories that started to pick up were the ones that could be deemed as essential services, like plumbing, electricians, carpenters and subsequently appliance repairs.” Across the width of categories that UC is present in, there are some for which the pandemic provided tailwinds to and there were others for which the negative consumer sentiments acted as headwinds. UC had launched men’s grooming and haircuts at home in the last quarter of 2019. “That is a category that has seen tremendous growth in the past few months and its actually buoyed our business significantly,” Menon added. However, the platform has had to work tremendously hard on categories like Salon at home, owing to the fact that it is a high proximity service. That’s where its advertising has helped it win its consumers’ trust back. The brand launched its ‘UC Safe Salon campaign’ which comprised TVCs featuring TV actors like <keyword id="166349" type="PERSON" weightage="20" keywordseo="Neena-Kulkarni">Neena Kulkarni</keyword> and <keyword id="27383" type="PERSON" weightage="20" keywordseo="Shweta-Tiwari">Shweta Tiwari</keyword> who had themselves availed UC services. The aim was to spread the message about how safe its salon at home option was. “Following the launch of the campaigns, we've seen resurgence across all categories, some obviously moving faster than the others. And it's a function of sentiment and maturity across categories. To give you a sense of where we are relative to July, our salon category has grown by about 50-56% and that's been on the back of structural problem-solving, to deliver on the core quality of experience and safety. We’ve re-skinned the way we talk about ourselves in our communications,” he explained. The team built video communication for each of its services on its app to assure people about their safety protocols. And all these videos featured Tiwari. People responded to the videos, owing to the fact that Tiwari as a brand is relatable and trustworthy. The effort has also been towards coming up with offerings that drive value for consumers in the salon category. “Initiative like Super Saver Week and Salon Spree have helped us meet our monthly targets for the salon category,” he added. He also added that the pandemic provided tailwinds to the men’s grooming category which has seen around 57% growth since July and is coming close to the salon category in terms of volumes. Of new users and markets While the salon at home category had been a winner for UC, it launched its Men’s grooming services right before the lockdown. And owing to the fact that salons had to be shut for a long time, once the unlock process started, the brand saw a lot of demand for the men’s grooming services. And all of the people using these services are new users. It is also witnessing good demand for other services like painting and professional cleaning. And is the platform witnessing more demand from smaller cities? “A significant portion of our business still continues to remain in urban cities. However, our focus has also been on building demand in Tier II cities. We have tried to build relevance at a regional level through our influencer marketing programs, specifically in the salon and men's grooming business. On the salon business, through the month of September, we've worked with about 165 micro-influencers who have a following between the range of 5000- 50,000 but are locally relevant. The aim has been to drive resonance of salience on the message that UC salon services exist in your city, to reiterate our safety protocols and to introduce our roll-on waxing,” explained Menon. UC has also been trying to talk to the slightly older audience, to again assure them about the safety of their offerings, however, the demand is still being driven by the younger audience. Marketing strategies during and post lockdown Usually during the times of crisis, marketing budgets are the first to be cut off. For UC too, the marketing budgets were put on hold for the first two months of the pandemic. “However, once we saw some supply return to the platform, and there was a certain demand to supply ratio where demand was lagging, we activated our marketing budgets. It's been about tracking our numbers and coordinating with the rest of business to identify moments, categories and regions, in terms of building where demand needs to be built,” he explained. It is also spending its marketing monies in a phased manner. “Today we might be slightly below par to where we were pre-pandemic in terms of our marketing spends and that’s a conscious choice. We are spending and have invested on IPL. However, right now its more about optimizing our spends with a view of what the cost of conversion is, and build that based on the structural changes we’ve made to our business, to focus on quality and safety. The larger belief is that if we get these two things right and are able to drive it in a credible, demonstrable way when it comes to experiences, that in turn will lead to repeat business, and even word-of-mouth,” said Menon. TV and Digital continue to be the biggest spends for the platform. During the IPL, the brand launched a campaign with its brand ambassador of 2 years, Ayushmann Khurrana. The vision for Urban Company UC, which was formerly known as UrbanClap, was founded in 2014 with a handful of service professionals. In the last 6 years, the platform has diversified its business and has also expanded to global markets like Australia, Singapore, and the UAE. So where will the next phase of growth for UC come from? “There are several things we have been discussing, like introduction of new services within each category or the tier-ization of services to appeal to different price points and consumer sets. The company's ethos is to pilot, learn, iterate, fail fast, and then deploy. So there are active pilots across each of these, whether it is service expansion, depth of service or segmentation exercise,” shared Menon.

How Urban Company’s continued focus on safety and targeted communication is making people open their doors to the brand

<a href="http://www.businessinsider.in/searchresult.cms?query=Facebook&amp;sortorder=effectivedate">Facebook</a> has quietly launched a new website and jumped straight into the <keyword id="3074110" type="UNKNOWN" weightage="80" keywordseo="hyperlocal-services">hyperlocal services</keyword> market in India. Their newest offering features a list of local services and businesses that can be searched and shortlisted based on location. There are 80 plus categories including general and personalized services. All these businesses are listed on <a href="http://www.businessinsider.in/searchresult.cms?query=Facebook&amp;sortorder=effectivedate">Facebook</a>’s website, are rated and include its user ratings. 
 
India’s hyperlocal services market is crowded by players like <a href="http://www.businessinsider.in/searchresult.cms?query=Urbanclap&amp;sortorder=effectivedate">UrbanClap</a>, <keyword id="2828896" type="UNKNOWN" weightage="80" keywordseo="QuikrServices">QuikrServices</keyword>, Zopper and Zimmber to name a few. However, while <keyword id="6354576" type="CITY" weightage="60" keywordseo="Facebook">Facebook</keyword> revealed in October last year that there were over two million small business listed on its platform, segment leader <a href="http://www.businessinsider.in/searchresult.cms?query=Urbanclap&amp;sortorder=effectivedate">Urbanclap</a> isn’t much worried. 
 
“They (<a href="http://www.businessinsider.in/searchresult.cms?query=Facebook&amp;sortorder=effectivedate">Facebook</a>) will probably have more detailed pages. However, it’s still just a listing. On <a href="http://www.businessinsider.in/searchresult.cms?query=Urbanclap&amp;sortorder=effectivedate">Urbanclap</a> it’s a more end-to-end platform based on your needs and budget. Platforms like those have some supply, but since the mechanism of connecting the professional to the customer is so bad, it doesn’t quite work for both sides. That’s why Just Dial as a marketplace never quite took off for local services”, <keyword id="2811049" type="UNKNOWN" weightage="40" keywordseo="UrbanClap">Urbanclap</keyword> co-founder <a href="http://www.businessinsider.in/searchresult.cms?query=Varun+Khaitan&amp;sortorder=effectivedate">Varun Khaitan</a> told Business Insider. 
 
Currently <a href="http://www.businessinsider.in/searchresult.cms?query=hyperlocal+services&amp;sortorder=effectivedate">hyperlocal services</a> platforms charge businesses a small fee to be featured on their platform, or take 10-20% commission from their total fee. There has not yet been any word on how <a href="http://www.businessinsider.in/searchresult.cms?query=Facebook&amp;sortorder=effectivedate">Facebook</a> plans on monetizing its hyperlocal service. However, Facebook’s entry into this crowded space is expected to only increase the competition. Recently, <a href="http://www.businessinsider.in/searchresult.cms?query=Facebook&amp;sortorder=effectivedate">Facebook</a> also launched tools that are designed to help users communicate with businesses via its Messenger. This will allow users to communicate with businesses using short URLs and codes. 
 
The idea behind <a href="http://www.businessinsider.in/searchresult.cms?query=Facebook&amp;sortorder=effectivedate">Facebook</a>’s new portal is to connect users with local businesses and organizations with the best <a href="http://www.businessinsider.in/searchresult.cms?query=Facebook&amp;sortorder=effectivedate">Facebook</a> reviews and ratings. The portal currently lists quite a few businesses categorized under broad fields like plumber, spa, beauty and personal care, event planning, pet service, medical and health, arts and marketing, automotive, and business services. Each listing includes the business name, address, working hours, and a star rating based on users’ reviews. 
 
This push by larger companies is putting considerable pressure on smaller companies in the space who have to grow rapidly, merge, or simply shut down. The three large firms apart, others in the space have cumulatively raised close to $15 million. 
 
<a href="http://www.bloncampus.com/multimedia/dynamic/02514/Co-Founders_-__Fro_2514976g.jpg">Image Source</a>

Urbanclap Co-founder Varun Khaitan is giving Mark Zuckerburg something
serious to think about

<ul><li>Gurugram-based home services startup <keyword id="2811049" type="PERSON" weightage="20" keywordseo="UrbanClap">Urbanclap</keyword> plans to launch in 4 Indian cities in the next quarter. </li><li>The startup recently announced its plan to expand to Abu Dhabi.</li><li>Two new services – men’s grooming and on-demand maid for cleaning – which are currently live in Delhi will soon be launched across India. </li></ul>Urbanclap was a small startup based out of Gurugram in 2014, offering home services digitally. Today, it has operations across 10 cities in India, Dubai and Abu Dhabi. It recently announced its Abu Dhabi expansion, and plans to grow its UAE business twice over, on a monthly basis. What’s more, the company has plans to become a ₹100 billion company! In an interview with Business Insider, <keyword id="3012564" type="PERSON" weightage="20" keywordseo="Varun-Khaitan">Varun Khaitan</keyword>, co-founder, Urbanclap said that there are many plans in store for their India business as well. Urbanclap will soon launch in four more cities by the next quarter. Two new services – men’s grooming and on-demand maid for cleaning – which are currently live in Delhi will be launched across India. “Our investments are on constantly improving the business,” said Khaitan. Profitability vs Scale UrbanClap recently raised ₹16 million from Flipkart CEO Kalyan Krishnamurthy, according to paper.vc, a business intelligence firm. It has marquee investors like Ratan Tata, SAIF Partners, Accel Partners and Bessemer Venture Partners on board, and raised a total funding of $110 million. The startup has about 6 lakh users per month with 20,000 service professionals on-board. But the main question is – how far is profitability? “If we want to, we can turn profitable in the next three months. Instead, we want to invest in our future and build our scale to one day make Urbanclap a ₹100 billion company,” said Khaitan. Recently, Urbanclap <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/urbanclap-revenue-up-309-losses-down-25-in-fy18/articleshow/64008938.cms?from=mdr">reported </a>a 309% jump in its operational revenue to ₹450 million for 2017-18. The losses however were at ₹750 million. “In the last three years, our jump in revenue has been significant while the losses in quantum have remained flat. The amount of burn remaining flat with revenue increases, is a sign of scale. If you want to keep growing, you will have to be investing for tomorrow’s growth,” said Khaitan. An offer they couldn’t refuse All the founders Abhiraj Bahl, Raghav Chandra and Khaitan, came back from the US hoping to build a business. They had the common goal of solving a problem for the masses. After extensive research, the idea of helping people run their homes appealed to them. They also realized that professionals like electricians and beauticians too barely make any money due to middlemen or employers. “We realised very early on that the problem that we were solving was not just building a marketplace and connecting users. We ended up removing the middlemen and transitioning these employees or service professionals into microentrepreneurs,” said Khaitan. Service professionals like electricians, beauticians and carpenters had nothing to complain as Urbanclap made them an offer they couldn’t refuse. “We told them you keep 80% of the earnings, Urbanclap will keep 20%. Overnight their earnings went up. Today, every other service professional through Urbanclap earns makes an average of ₹40,000 per month. Hundreds of our beauticians make more than ₹1 lakh a month,” said Khaitan. Making a difference to professionals also improved service quality to consumers. When they started, the founders were hoping to have at least 100 users per day, by the end of 2015. However, they had 1000 per day. The founders got what they wanted – solving a systemic problem in the country – as opposed to building a business, to sell and chill in a yacht. See Also: <a href="https://www.businessinsider.in/EXCLUSIVE-This-Indian-startup-has-made-a-profit-solving-1100-police-cases-with-just-one-round-of-funding/articleshow/69871636.cms">EXCLUSIVE: This Indian startup has made a profit solving 1,100 police cases with just one round of funding</a>

INTERVIEW: Urbanclap claims it can turn profitable in 3 months but it won’t – here’s why

Cussing the company that you just quit online? If you’re that type, you might have a lawsuit on your hands. 
 
Given how easy it is today for disgruntled or ex-employees to vent in cyberspace, a number of Indian companies are introducing social media policies and non-disparagement clauses. 
 Globally, companies adopt social media policies that dictate what any employee can say, or more importantly, not say online. Use is also made of non-disparagement clauses, especially in top-level exits. Steven Sinofsky, a <keyword id="2128830" type="POSITION" weightage="40" keywordseo="key-executive">key executive</keyword> who resigned from <keyword id="10387" type="CITY" weightage="40" keywordseo="Microsoft">Microsoft</keyword>, and Conan O’Brien, who had an alleged fallout with NBC, have both signed severance agreements containing such clauses. Albeit this is linked to severance payout, and O’Brien was reportedly paid a cool $32.5 million. 
 With 10 crore <keyword id="6354576" type="CITY" weightage="40" keywordseo="Facebook">Facebook</keyword> users and more than three crore active <keyword id="6354616" type="CITY" weightage="40" keywordseo="Twitter">Twitter</keyword> accounts in the country, <keyword id="46431" type="CITY" weightage="40" keywordseo="India-Inc">India Inc</keyword> is now following suit. As Shivaram T, HR leader at SAP Labs, India, points out, “In today’s networked <keyword id="6356826" type="COMPANY" weightage="40" keywordseo="environment">environment</keyword>, negative remarks spread quickly and have a multiplier effect. Thus companies are moving towards having legally watertight clauses in employee agreements, which protect the company, its brand, customers and other stakeholders.” 
 Most likely to bad-mouth a firm are former employees so companies are making severance agreements of key employees tighter. “We have increasingly seen use of non-disparagement clause linked to exit packages in severance agreements with senior employees. We are also seeing a trend of including non-disparagement clauses in new <keyword id="6420527" type="POSITION" weightage="40" keywordseo="executive">executive</keyword> employment agreements. Automatically, employees would be under an obligation to comply with the clause on exit,” says Anand Mehta, partner, <keyword id="558469" type="COMPANY" weightage="40" keywordseo="Khaitan-Co">Khaitan &amp; Co</keyword>, a law firm. A few years ago, during a top-level shake up at Diageo India, newspaper reports indicate that non-disparagement clauses were adopted. 
 
“In most cases, when top-level employees exit, they prefer to negotiate a mutual non-disparagement clause under which even the company is prohibited from disparaging and harming the interests of the outgoing employee,” says Vikram Shroff, head, HR law at Nishith Desai Associates. 
 
“We have also seen cases where the PR and legal teams of a company work with the exiting employee and draft joint release statements for both internal and external communications,” adds Nohid Nooreyezdan, partner at law firm AZB &amp; Partners. 
 
In the US, there are stray instances of employees challenging use of non-disparagement clauses. The Indian Constitution also guarantees freedom of speech. “However, it also allows reasonable restrictions to be placed on exercise of the right to free speech if it could lead to defamation,” explains Shroff. So far, non-disparagement clauses haven’t been challenged in court and appear to be here to stay. 
 
Some companies are detailing their social media policies in their offer letter itself. “Our social media policy is part of our offer letter. RPG’s code of ethics, which is signed by all employees on joining, provides that no employee should post any defamatory comments about the company, its employees, clients and associates. Sharing of proprietary information of the company or its clients is also prohibited. Under this code, even ex-employees cannot engage in activities that could affect the company’s interest,” says Arvind Agrawal, president HR, RPG Enterprises. 
 
“Often employees make comments in jest or in a fit of frustration. These policies help educated them on appropriate usage of social media platforms," says Mohandas Pai, chairman, Manipal Global Education. 
 “In addition, access to social media sites within office premises can be curtailed or monitored via an IT security system,” adds Amit Das, chief HR <keyword id="46129" type="POSITION" weightage="40" keywordseo="officer">officer</keyword> at <keyword id="46907" type="CITY" weightage="40" keywordseo="Reliance-communications">Reliance Communications</keyword>. At Reliance Communications, access within <keyword id="94523" type="ENTERTAINMENT" weightage="40" keywordseo="The-Office">the office</keyword> is available only to select social media sites that meet the specified business requirements. To prevent undesired behavior after office hours, the company also has an exhaustive social media policy in place. For example, employees are required to abide by national and international copyright laws or those governing libel or defamation. They cannot make personal comments about other employees or the company on networking sites. Social media policies adopted by companies even prescribe for disciplinary action in case of errant behaviour, such as at SAP Labs. HR personnel also caution against the use of anonymous accounts, as the culprits can always be traced.

India Inc Tightens Screws On Quitters Venting Online

<keyword id="3934365" type="UNKNOWN" weightage="20" keywordseo="ItzpleaZure">ItzpleaZure</keyword> is India’s premium couple intimacy online store and they have very interesting insights into which sex toys people buy online. 
 
<a href="http://www.businessinsider.in/Using-ClearTaxs-new-platform-for-young-entrepreneurs-you-can-kick-start-your-business-in-merely-three-weeks/articleshow/55873572.cms">ALSO READ: ClearTax’s new platform for young entrepreneurs can kick-start your business in merely three weeks</a> 
 
The sexual wellness market in India is expected to grow at an average rate of 34.8 percent per year from 2014 to 2019, according to Technavio. It estimates the current market size of the category in India to be around US$227.8 million while globally it is over US$22 billion. 
 
<a href="http://www.businessinsider.in/EXCLUSIVE-Uber-to-now-allow-its-riders-free-tickets-worth-Rs-30-lakh-to-holiday-abroad/articleshow/55868607.cms">ALSO READ: EXCLUSIVE: Uber to now allow it's riders free tickets worth Rs 30 lakh to holiday abroad</a> 
 
In the last couple of years, this industry has not only grown in market size but also in product categories. Today it includes everything, ranging from condoms, lubricants, gels, erotic lingerie, massagers to adult toys, role play costumes, board games, bondage, etc. 
 
<a href="http://www.businessinsider.in/This-app-will-allow-you-to-pay-your-rent-via-credit-card-/articleshow/55856416.cms">ALSO READ: Check this out. This app will allow you to pay your rent via credit card</a> 
 <keyword id="824043" type="COMPANY" weightage="20" keywordseo="Business-Insider">Business Insider</keyword> caught up with <keyword id="260081" type="PERSON" weightage="20" keywordseo="Divya-Chauhan">Divya Chauhan</keyword>, Co-Founder, itspleaZure.com who said that the market for intimacy products is rapidly growing,”From regular products such as the vibrator and cock-ring, couples are venturing into bolder pastures with sex games being the most popular category.’’ 
 
Here are some products that are breaking records on ItzpleaZure.com.

EXCLUSIVE:
These are the most popular sex toys online

New Delhi [India], December 21: While making significant strides in various sectors, there are leaders in India who are standing out for their work worldwide. The "Global <keyword id="397956" type="General" weightage="20" keywordseo="indian-leaders" source="Orion">Indian Leaders</keyword> 2023" list curated by World Brand Affairs has featured leaders from across the country who are known for their innovative, resilient, and persistent approach to functioning in their respective industries. These people are heading towards new heights and establishing standards for excellence. The list honors their outstanding efforts and accomplishments which have propelled their companies to unbound success. Their inclusion in the list highlights their exceptional abilities to navigate challenges, adapt to changing market trends, and consistently deliver groundbreaking results. Gaurav Munjal, CEO of Unacademy Gaurav Munjal is the co-founder and CEO of Unacademy, India's largest online learning platform. With a vision to democratize education, Munjal pioneered Unacademy's growth, transforming it into a leading ed-tech powerhouse. His innovative leadership has revolutionized accessible and quality education, empowering millions of learners across the globe. Kunal Shah, Founder of CRED Kunal Shah is the founder and CEO of CRED, a fintech startup revolutionizing credit card payments in India. As a serial entrepreneur, Shah previously founded FreeCharge, later acquired by Snapdeal. His innovative approach to creating rewarding credit experiences has helped CRED to redefine credit card usage while fostering financial literacy. Ashish Hemrajani, Co-founder and CEO of BookMyShow Ashish Hemrajis the co-founder and CEO of BookMyShow, India's leading online entertainment ticketing platform. Hemrajani's unique idea revolutionized the way people book tickets for movies, events, and live performances. His ingenious leadership transformed BookMyShow into a cultural phenomenon, reshaping the access to entertainment industry across the country. Fardin Sheikh, Managing Director at Wizence Group Fardin Sheikh is a seasoned professional with over 25 years of exemplary leadership experience, earning him recognition as a Distinguished Digital Transformation Leader. His dynamic career spans across various roles, showcasing a remarkable blend of strategic vision, project management acumen, and a strong commitment to driving digital innovation. Pariksha Rao, Founder of NuWe Starting as a Clinical Nutritionist, Pariksha Rao has morphed into various roles with the intent to help demystify and democratize healthcare. From maternal well-being to fetal health and tailored nutrition for weaning kids to teens, her work has helped impact over 200,000 lives over nearly two decades of her career. She continues to amplify her impact with NuWe. Poojaa Choprah, CEO and MD of Felix Impex Poojaa Choprah, a visionary CEO &amp; MD of Felix Impex Pvt Ltd., and founder of PNA ORIGINE, is renowned for strategic business acumen and market expansions. A trailblazer in entrepreneurship, her global fashion insights, artistic fervor as a Kathak dancer, and bespoke training expertise redefine success, weaving innovation and cultural fluency into her vibrant career. Amandeep Kaur Khangura, Director of Tru Prime Amandeep is a Canadian born entrepreneur who moved to India in 2011, and acquired Indian Citizenship to follow her passion to bring social empowerment in rural Punjab. During her time in Canada, Amandeep chaired HR &amp; Finance for a $500M project. Currently, in India, she operates Majara Dairy Farm which has 2,600 livestock and is the largest dairy farm operator in Punjab and one of the largest in India. Pt. Dr Sanjeev Kumar Srivastava, Nadi and Vedic Celebrity Astrologer Renowned globally as a luminary in Nadi and Vedic astrology, Pt. Dr. Sanjeev Kumar Srivastava is celebrated across 70+ nations for his remarkable precision in predictions &amp; teaching Nadi Astrology. With an illustrious career spanning 27 years, his astonishing success rate of 95-97% and expertise in Nadi Nakshatra Sutras exemplify his command in the celestial arts. Dr Prachiti Punde, Director of Proluxe Dr Prachiti Punde is a powerhouse in Integrated Medicine, Director of Proluxe Pvt Ltd, and Mrs. Universe Tolerance 2021. She transforms health and lifestyle with an exclusive GLAMOWELL multi-experience centre and revolutionizes wellness with patented tools and a unique mobile app. Along with being a spiritually blessed child, she is also an Anesthetist and mindskills Trainer with 15+ books published. Sanju Pudyandil, Founder of Whitespace Brand Consulting Sanju Pudyandil, a luminary in brand management and marketing, launched Whitespace Brand Consulting after honing his expertise at Ray+Keshavan, presently Super Union. Renowned for orchestrating transformative corporate revamps, he spearheaded impactful makeovers for illustrious brands like Canara Bank, Trident Hotels, J&amp;K Bank, Punj Lloyd, CEAT Tyres, and Fair &amp; Lovely, among others. Stuti Galiya, Partner at Khaitan &amp; Co. Stuti, an esteemed Advocate and solicitor, serves as a Partner at Khaitan &amp; Co., excelling in mergers &amp; acquisitions, private equity, corporate laws, commercial contracts, and foreign investments. Recognized as the "Luxury Retail Lawyer of the Year 2023" by APAC Insider, her expertise in the luxury retail sector marks her as an ingenious leader in the Asia-Pacific legal domain. Srividhya, Founder of HITECH Engineering Solutions (India) Srividhya, founder of HITECH Engineering Solutions (India) holds a deeply rooted legacy in Construction since 1998. Her indomitable optimism defied industry challenges, establishing a prominent platform despite male-dominated norms. Under her guidance, the company thrives as a certified SSI unit with ISO 9001:2015, ISO 14001:2015 &amp; OHSAS 4500: 2018 qualifications, renowned for cost-effective solutions nationwide and across Asia. Debabrata Sarkar, CMD at MicroAlgae Solutions Debabrata Sarkar is an agricultural innovator with 26+ years of global experience. Armed with a BCKVV agriculture degree and IIM Kolkata alumni status, he led strategic units for esteemed firms in Asia Pacific. He is currently serving as the CMD at MicroAlgae Solutions India Pvt Ltd, a subsidiary of AlgaEnergy Spain. Mogilipuri Krishna Chaitanya, Director at Wonder View Media As a Director at Wonder View Media Pvt Ltd, a CMPTL franchise specializing in IT services and Business Consulting, Mogilipuri Krishna Chaitanya facilitated substantial growth for his brother's business. With over 9 years of experience, he continues to excel as a Software Engineer at Tata Consultancy Services (TCS) and has made significant contributions to tech giants like Apple, Google, and more. Subhajit Banik, Founder of Birdlens Creation Subhajit ventured into photography in 2007 as a model, cultivating expertise in lighting and creative framing. Winner of the Glamhunt competition by ABP group in 2010, he founded Birdlens Creation in 2015. Specializing in wedding photography, Subhajit crafts timeless, emotive images reflecting couples' love and joy. Dr Rahul Mirchandani, Chairman &amp; Managing Director of Aries Agro Limited Dr Rahul Mirchandani, ranked among the 30 Most Innovative CEOs in India, has pioneered unique strategies to build 130+ Aries specialty crop nutrition brands. With a PhD in Management Studies, he teaches Marketing, Innovation, and Entrepreneurship across 50+ B-Schools. He plays key roles in CII's agriculture council, and key governmental panels and was the National Chairman of CII's Young Indians. Vinay Kumar Singh, Executive Director and CEO of Thomson Digital and Q&amp;I (India) Vinay Kumar Singh is the Executive Director and CEO of Thomson Digital and Q&amp;I, with over 30 years of industry expertise. He pioneered Thomson Digital in India and globally, founding associated companies and an education technology startup. Specializing in scientific and educational content, Vinay completed his Executive Training Programs at ISB Hyderabad. Saurabh Gupta, Founder &amp; CEO of Verismart.ai A 3-time entrepreneur and angel investor in 9 deep tech firms, Saurabh Gupta is now leading Verismart.ai which pioneer in blockchain-based Ad-tech/Data Interoperability platform with over 520M+ users data pipeline while ensuring privacy compliance. He also acquired dolphinchat.ai., and has been a speaker at 50+ global conferences talking about Blockchain and data privacy. Vikkas K Jha, Founder of Brand Kettle Vikkas K Jha, an ace marketing professional turned visionary entrepreneur, founded Brand Kettle amidst the pandemic. With expertise in Commercial Fitouts, Retail Roll-Outs &amp; experiential marketing, he expanded Brand Kettle's services, integrating 30+ brands, within 3 years. He is also driving impactful social change via the Brand Kettle Foundation's NGO initiatives. Atharva Bahadur, CEO of Drishti Pures Atharva Bahadur is the CEO of Drishti Pures in Lucknow. Under Atharva's leadership, Drishti Pures, a pioneering endeavor, engages abandoned, differently-abled children in producing Cold Pressed Oil and processing pure spices, aiming to foster self-reliance among them. Currently housing 260 abandoned children, Drishti remains the largest institution of its kind globally. Harsh Niwas, Manager Legal and Team Lead at Unitech Limited Harsh Niwas is an international consultant having more than 12 years of experience in the Real Estate and Mining industries. His expertise lies in project management, legal strategy, and stakeholder communication, delivering successful outcomes and operational efficiency. Known for strong leadership, negotiation, and collaboration skills, he ensures compliance and value creation within teams and organizations. Hussain Kalsekar, Founder and CEO of 366 DigitX Renowned for fostering enduring relationships with corporate decision-makers, Hussain Kalsekar has steered 366 DigitX to unparalleled heights. His client-centric approach has garnered him accolades globally. Recognized as one of the top 100 smartest digital marketing leaders by the World Marketing Congress, he was also recently honored among the Top 50 Global High Flyers and awarded as the Leader in Digital Marketing for 2023. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)

Global Indian Leaders of The Year 2023 as per World Brand Affairs

<ul><li>The early stage of AI development also brings forth certain inherent <keyword id="6355587" type="General" weightage="20" keywordseo="legal" source="Orion">legal</keyword> complexities and hurdles that advertisers need to take into account. </li><li>These include concerns regarding the ownership of AI-generated content, <keyword id="42436" type="General" weightage="20" keywordseo="copyright" source="Orion">copyright</keyword> issues, data security, potential AI bias, and so on. </li><li>Obtaining proper authorisations and licences for uploaded materials, particularly copyrighted and trademarked content, is crucial. </li></ul><keyword id="15777223" type="General" weightage="20" keywordseo="generative-ai" source="Orion">Generative AI</keyword> has brought significant advancements to the <keyword id="35666" type="General" weightage="20" keywordseo="advertising" source="Orion">advertising</keyword> sector, reshaping content creation, customer engagement, and backend operations. Through the use of generative AI tools, advertisers can automate the production of original content such as text, images, articles, and marketing materials. However, despite the advantages related to efficiency, cost savings, and productivity that generative AI brings, the early stage of AI development also brings forth certain inherent legal complexities and hurdles that advertisers need to take into account. A report by law firm Khaitan &amp; Co and the Advertising Standards Council of India (ASCI) has pointed out the legal ramifications like copyright infringement are necessary to keep in mind more than ever in these changing times. There are also concerns regarding the ownership of AI-generated content, data security, potential AI bias, and more. <cmsannotation type="cmsannotation" annotationid="Danger 1: Copyright infringement" text="Danger 1: Copyright infringement">Danger 1: Copyright infringement</cmsannotation> When it comes to copyright infringement, generative AI can get tricky. For example, a song featuring AI-generated and cloned voices of 'The Weeknd' and 'Drake' was uploaded and subsequently streamed over 15 million times before it was eventually taken down. In another instance, photographer Boris Eldagsen declined a Sony world photography award after disclosing that his winning image was generated using AI. This revelation has sparked a debate about the role of AI in photography. <cmsannotation type="cmsannotation" annotationid="Copyright act: Status of AI generated content unclear" comment="subhead" text="Copyright act: Status of AI generated content unclear">Copyright act: Status of AI generated content unclear</cmsannotation> The Copyright Act of 1957 provides copyright protection in India for original works and defines the 'author' as the creator. AI-generated content faces uncertainty regarding copyright protection due to AI not being recognized as a legal entity, raising concerns about ownership and infringement. Advertisers and marketing agencies may encounter challenges in claiming legal ownership of AI-generated works. Generative AI models use two types of data, training data, and user input, which require due diligence to avoid copyright infringement. The unclear status of AI in copyright law necessitates careful consideration to ensure compliance and protection. <cmsannotation type="cmsannotation" annotationid="The misrepresentation fear" comment="subhead" text="The misrepresentation fear">The misrepresentation fear</cmsannotation> Training generative AI models using data from open sources or the internet can introduce biases, misinformation, and misleading information into the output. Limited diversity in datasets may result in underrepresentation of cultures, races, and genders, perpetuating historical stereotypes. The effectiveness of AI tools relies on the quality of training data, but concerns arise from the dominance of English language data and models, potentially making it disadvantageous to non-English speakers and those outside of the Global North. Global cooperation is crucial to avoid linguistic discrimination and exclusion in AI development. <cmsannotation type="cmsannotation" annotationid="Why advertisers need to be conscious and careful" comment="subhead" text="Why advertisers need to be conscious and careful">Why advertisers need to be conscious and careful</cmsannotation> The report points out that in India, AI is not recognised as a legal entity, leaving AI-generated works without human involvement ineligible for copyright protection. Consequently, advertisers may find themselves without legal ownership of AI-generated content and limited recourse in the event of infringement by third parties. Moreover, marketing agencies may encounter challenges in fully transferring ownership of AI-created content to their clients if they are not deemed rightful owners. <cmsannotation type="cmsannotation" annotationid="How advertisers can mitigate liability risks" comment="subhead" text="How advertisers can mitigate liability risks">How advertisers can mitigate liability risks</cmsannotation> As per the report, a critical focus is on thoroughly reviewing AI platform terms, securing proper authorizations for copyrighted content, and carefully avoiding prohibited input. The implementation of robust content review processes, setting up guidelines, and incorporating AI disclaimers plays a significant role in mitigating potential liabilities. It is also vital to safeguard confidential data by enforcing non-disclosure agreements and implementing strong security measures. Upskilling human labour is recommended to maintain human control, ensuring responsible AI use, and effectively minimising legal and ethical risks. <cmsannotation type="cmsannotation" annotationid="Future outlook" comment="subhead" text="Future outlook">Future outlook</cmsannotation> The Khaitan-ASCI white paper points out that stakeholder engagement is crucial in navigating AI complexities, involving developers, policymakers, experts, users, and the public. In India, the government's awareness of AI is evident through the Ministry of Electronics and Information Technology, Government of India ( MEITY) and NITI Aayog initiatives and the proposed Digital India Act with AI regulations. Emphasising fairness, accountability, transparency, and ethics guides responsible AI development. Learning from global perspectives, like the EU AI Act, harmonises regulatory standards. Effective policies balance innovation with rights, privacy, and workforce impact. A collaborative approach fosters trust, responsible AI practices, and societal benefits.

Generative AI usage advertising comes with its legal implications

Business Insider is hosting an annual business conclave on the <keyword id="1967222" type="General" weightage="100" keywordseo="future-of-work" source="Orion">Future of Work</keyword> this year on March 17th in Mumbai, focussed on India’s biggest audience base: job seekers. The event is being co-powered by Google Cloud. This year has ushered in a new paradigm for work, workplace and the workforce. To thrive in this post-pandemic environment, the lens is shifting to strategies that help retain talent, with a renewed focus on people. It is a crucial year as organizations look to make workplaces more humane amidst digital adoption, find a balance between hybrid and physical work space and create a more equitable environment overall. <cmsannotation type="cmsannotation" annotationid="Human capital at an inflection point" comment="subhead" text="Human capital at an inflection point">Human capital at an inflection point</cmsannotation> With a changed talent landscape, companies have to rethink workforce strategies beyond the traditional Bottomline-driven approach. Human capital is at an inflection point because companies have had to adapt to too many changes too soon through the pandemic years. One needs to re-imagine human capital strategies keeping that inflection point in mind, which includes culture shifts, rising influence of AI, quiet quitting, mental health and layoffs. And most importantly, the evolving role of leadership and human resources in the changing world order to find the confluence between work, technology and human experience. Register here to know more about FoW summit: <a href="https://future-of-work.in/#popmake-497">https://future-of-work.in/#popmake-497</a> These are themes that we will be focussing on in our one-day event: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.6000000000000001pt;border-right:solid #cccccc 0.6000000000000001pt;border-bottom:solid #cccccc 0.6000000000000001pt;border-top:solid #cccccc 0.6000000000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"><ul><li>The future of work and technology and the tools driving digital transformation across workplaces over the next decade</li></ul></td></tr><tr><td style="border-left:solid #cccccc 0.6000000000000001pt;border-right:solid #cccccc 0.6000000000000001pt;border-bottom:solid #cccccc 0.6000000000000001pt;border-top:solid #cccccc 0.6000000000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"><ul><li>How are HR leaders looking to reshape the human capital management landscape in 2023?</li></ul></td></tr><tr><td style="border-left:solid #cccccc 0.6000000000000001pt;border-right:solid #cccccc 0.6000000000000001pt;border-bottom:solid #cccccc 0.6000000000000001pt;border-top:solid #cccccc 0.6000000000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"><ul><li>Redefining a performance-driven culture and work towards an inclusive, collaborative approach to enhance productivity and talent retention</li></ul></td></tr><tr><td style="border-left:solid #cccccc 0.6000000000000001pt;border-right:solid #cccccc 0.6000000000000001pt;border-bottom:solid #cccccc 0.6000000000000001pt;border-top:solid #cccccc 0.6000000000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"><ul><li>Learning and Development: Upskilling is crucial to remain relevant in the modern workplace across sectors</li></ul></td></tr><tr><td style="border-left:solid #cccccc 0.6000000000000001pt;border-right:solid #cccccc 0.6000000000000001pt;border-bottom:solid #cccccc 0.6000000000000001pt;border-top:solid #cccccc 0.6000000000000001pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"><ul><li>The need for policies to align employee growth and business strategies to ensure that both workforce and business can thrive</li></ul></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Our previous edition of Future of Work featured former CEA KV Subramanian, <keyword id="1175200" type="General" weightage="50" keywordseo="sanjeev-bikchandani" source="Orion">Sanjeev Bikchandani</keyword> of InfoEdge, <keyword id="25725" type="General" weightage="50" keywordseo="ronnie-screwvala" source="Orion">Ronnie Screwvala</keyword> of Upgrad, Oscar nominee Guneet Monga, National Award winning filmmaker Rakesh <keyword id="339527" type="General" weightage="50" keywordseo="omprakash-mehra" source="Orion">Omprakash Mehra</keyword>, Best selling author global keynote speaker &amp; podcast host <keyword id="1859852" type="General" weightage="50" keywordseo="dan-schawbel" source="Orion">Dan Schawbel</keyword>, Varun Khaitan of Urban Company, Global expert on Future of Work &amp; author Ben Pring and many others. Business Insider’s FUTURE OF WORK is the knowledge sharing platform where we bring forth cutting edge thinking from the world’s leading thinkers, enablers and doers. Simply put, a platform for all to bring conversations and ideas together and learn from each other. We are proud to have Aon on board as our knowledge partner of the conclave. See you in our one-of-a-kind annual gathering on March 17th in Mumbai. Register here to know more about FoW summit: <a href="https://future-of-work.in/#popmake-497">https://future-of-work.in/#popmake-497</a>

Future of Work 2023 ⁠— a confluence of the brightest minds reimagining the new era of work, workplace and workforce

<ul><li><keyword id="6484187" type="General" weightage="100" keywordseo="ril" source="Orion">RIL</keyword> signed an agreement to acquire a majority stake in <keyword id="6910301" type="General" weightage="80" keywordseo="sensehawk" source="Orion">SenseHawk</keyword>, a California based software developer.</li><li>SenseHawk is an early stage startup founded in 2018 and develops software-based management tools for the solar energy generation industry.</li><li>RIL chairman Mukesh Ambani said that, in collaboration with SenseHawk, they can drive down costs, enhance productivity and improve on-time performance.</li></ul><keyword id="6355199" type="General" weightage="50" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> signed an agreement to acquire a majority stake in SenseHawk, a California based software developer that specializes in solar power. The total transaction value is $32 million which also includes funding for future growth, commercial rollout of products and R&amp;D. SenseHawk is an early stage startup founded in 2018; and develops software-based management tools for the solar energy generation industry. It helps accelerate solar projects from planning to production by helping companies streamline processes and use automation, RIL said in a press release. RIL has recently reiterated its commitments to the green energy sector and has plans to enable 100 GW of solar energy by 2030. “In collaboration with SenseHawk, we will drive down costs, enhance productivity and improve on-time performance to deliver the lowest LCoE (levelized cost of energy) for solar projects globally and make solar energy the go-to source of power in lockstep with our vision for solar energy. It is a very exciting technology platform and I am confident that, with RIL’s support, SenseHawk will grow multifold,” said <keyword id="157940" type="General" weightage="50" keywordseo="mukesh-d-ambani" source="Orion">Mukesh D Ambani</keyword>, chairman of Reliance Industries. SenseHawk’s Solar Digital Platform offers end-to-end management of solar asset life cycles. It claims to have helped over 140 customers in 15 countries adopt new technology for over 600 sites and assets totalling over 100 GW. “I believe this partnership will open new use cases, help our nascent markets, and offer higher value to customers across the solar lifecycle. We are on a mission to improve the solar energy ecosystem, acquiring 50% of the market by 2025 and with RIL as our partner, we will accelerate our execution toward that goal,” said <keyword id="14906863" type="General" weightage="50" keywordseo="rahul-sankhe" source="Orion">Rahul Sankhe</keyword>, president and co-founder of SenseHawk. The transaction is subject to regulatory and other customary closing conditions, and is expected to complete before the end of 2022. Covington &amp; Burling LLP and Khaitan &amp; Co acted as the legal advisors and Deloitte as the accounting and tax advisor to RIL on this transaction. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/india-has-not-generated-outsized-returns-for-foreign-investors-says-ambits-nitin-bhasin/articleshow/94013159.cms">India has not generated outsized returns for foreign investors, says Ambit’s Nitin Bhasin</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/investment-lessons-from-rakesh-jhunjhunwalas-1111-partner-utpal-sheth/articleshow/94008505.cms">Investment lessons from Rakesh Jhunjhunwala’s 1+1=11 partner, Utpal Sheth</a>

RIL acquires California-based solar software developer SenseHawk for $32 million

<ul><li>Even though the ‘<keyword id="3080230" type="General" weightage="20" keywordseo="gig-economy" source="Orion">gig economy</keyword> workforce’ is a new concept, the <keyword id="37465" type="General" weightage="20" keywordseo="film-industry" source="Orion">film industry</keyword> has been working with such a model for decades.</li><li>The Indian film industry employed over 2.5 lakh people in 2017 alone.</li><li>Despite the unionisation of the Indian film industry that protects the rights of freelancers, there are a lot of issues left to be dealt with.</li></ul>Gig workforce is the hottest new trend that has emerged with the rise of the digital economy leading to the advent of companies like Zomato, Swiggy and <keyword id="8681398" type="General" weightage="20" keywordseo="urban-company" source="Orion">Urban Company</keyword>. Widely overlooked, but the concept of hiring contractual employees has been around for decades, if not centuries. That’s right. The Indian film industry has been one of the biggest employers of gig economy workers since its beginning. The Indian film industry employed over <a href="https://www.statista.com/statistics/731218/employment-in-the-film-industry-india/">2.5 lakh </a>people in 2017 alone. Business Insider hosted Academy Award winner and Indian film producer Guneet Monga and Urban Company’s cofounder Varun Khaitan in its Future of Work event — held on September 16 and 17 — to throw more light on the topic. Monga said that the film industry in general has been employing several freelancers for decades, whether it is light boys, dancers, junior artists, art directors, cinematographers and more. The term <keyword id="7771650" type="General" weightage="20" keywordseo="gig-workers" source="Orion">gig workers</keyword> has come up with the advent of the digital economy. “It can seem unstructured, but it actually works very well in the <keyword id="278613" type="General" weightage="20" keywordseo="freelance" source="Orion">freelance</keyword> business there… There is a union in this segment and that brings about a structure. But there are also some major challenges that come with it,” she added. She elaborated that the many freelancers have spoken about how difficult it is to get into the union or how expensive it is. Besides this, the segment does not get health benefits, does not come under labour codes and more, even though the payments are fixed due to the existence of a union. Watch More: What film producer Guneet Monga talks about unionisation in Indian film industry and what challenges it presents <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> Khaitan, on the other hand, elaborated how Urban Company, an at-home services startup, has managed to overcome such challenges in the beauty and home segment. He noted that a salon or a service shop would employ 10-15 professionals and were essentially the “middlemen”, therefore a professional’s income would be capped. Urban Company has not only offered a more flexible working environment, but also increased their take home income and offered them health benefits. Khaitan also noted that allowing these service professionals to get in touch with customers directly has provided them with more respect and business prepositions as well. “There is actually a very high price point here [Indian film industry] even to become a part of the Union. And then there is a supply of enough and more people are constantly getting inducted, but there is definitely a bottleneck on how unions function. They do protect them [freelancers] in terms of providing for jobs, but the kind of structures that you [Urban Company] are talking about is still, I feel, not in the best shape here right now. And this has just been our industry that has been thriving on freelance,” Monga added. She elaborated that while the Indian film industry has been striving for freelancers, it's not with a vision of bringing people together or offering insurance or health benefits or looking into labour laws. Watch More: What Urban Company’s Varun Khaitan had to say on the current conditions of freelancers in Indian film industry <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> Khaitan, sharing his experience, said “There are middlemen who claim to be good representatives and good samaritans of the workers, but are actually not. They are in some sense the heart of the problem, because a few things that just came up in this chat show there is no sense of balance between supply and demand in what is happening across the trade in the film industry and what that leads to is there is no sense of actual monthly earnings. So everyone just fights for what I can make on this job and it leads to an unheadly spiral.” SEE ALSO <a href="https://www.businessinsider.in/careers/news/the-only-way-to-beat-the-bots-from-taking-your-job-is-to-be-more-human/articleshow/86282273.cms">Future of Work 2021: The only way to beat the bots from taking your job is to be more human</a> <a href="https://www.businessinsider.in/stock-market/news/easemytrip-touches-market-cap-of-a-billion-dollars/articleshow/86285130.cms">EaseMyTrip touches market cap of a billion dollars</a> <a href="https://www.businessinsider.in/stock-market/news/biocon-hero-motocorp-tvs-motor-banks-and-other-top-stocks-to-watch-out-for-on-september-17/articleshow/86281250.cms">Biocon, Hero MotoCorp, TVS Motor, banks and other top stocks to watch out for on September 17</a>

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