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<ul><li>Over $5.2 billion has been invested in creating social impact since 2010 but that number can grow ten-fold, the authors argue.</li><li>A number of valuable projects for SRI investing can potentially be sourced in the context of the CSR legislation in India. </li><li>Therefore, there is enough reason for Finance Minister Nirmala Sitharaman to encourage investment that is not just looking for profit, but also looking to cause a change.</li></ul>Socially responsible investing (SRI) is an investment strategy that aims to generate positive and measurable social and environmental impact in addition to generating a healthy internal rate of return (IRR) for its investors by focusing on opportunities that help address the socio-economic challenges that communities in India face. SRI is finding its ground in India. Over $5.2 billion has been invested in creating social impact since 2010, according to a McKinsey report. That number can easily grow ten-fold by 2025 given the sheer scale of untapped opportunities in the country. And, that is why Finance Minister Nirmala Sitharaman must incentivise those looking to pump in money not just for profit, but also to create social change. 
 <div type="image" title="New Delhi: Finance Minister Nirmala Sitharaman during &amp;#39;Halwa&amp;#39; ceremony, marking ..." msid="73438508" hostid="261" caption="&amp;lt;p&amp;gt;Finance Minister Nirmala Sitharaman during &amp;#39;Halwa&amp;#39; ceremony, marking the commencement of Budget printing process for the General Budget 2019-20, in New Delhi.Photo/Shahbaz Khan)(&amp;lt;/p&amp;gt;"></div>



 Socially-responsible investing is quintessentially ‘Indian’ A report by cKinetics indicates that funds deployed towards SRI-aligned strategies by international investors in India have increased by 4% since 2017 and SRI assets managed by domestic asset managers have grown by 70%. The increased adoption of SRI will help to institutionalise a culture of giving that is already rooted in local traditions and culture. This synthesis of new investing strategies and traditions offers Indian financial services providers a significant opportunity to step up SRI; helpfully, increasing numbers of businesses that require investment are also recognising the growing awareness and interest that stakeholders, including critically many customers, especially millennials, have in sustainable growth practices. It’s ‘for profit’ and ‘for change’ India faces large socio-economic challenges, including urban and rural poverty, unemployment, a water crisis with demand outstripping supply, overflowing landfills in megacities and increasing income inequality. However, the SRI funds that have been created, both in number and in value, are relatively small compared to the size of these problems. Two of the early entrants operating in India for the past two decades, Acumen and Aavishkaar, between them have deployed over $300 million. An analysis of deals between 2010 and 2015 suggests that investments during this period were able to achieve a gross internal rate of return (IRR) of 11% on exit and the top one-third of investments achieved a median IRR of 34%. As SRI expands in India and gains in maturity and sophistication, we believe the range of these IRR numbers can be easily maintained, giving a substantial thrust to projects that deliver good social and environmental outcomes and ultimately combine profit with purpose. CSR funds can be deployed in the right places, with the right people A number of valuable projects for SRI investing can potentially be sourced in the context of the CSR legislation in India. This will, however, require a clear definition and taxonomy⁠— simply put, classification⁠— of what outcomes such investments are expected to deliver and what kinds of projects would qualify for such support. If handled well, this could yield significant new funds to support a large number of social entrepreneurs, and address the biggest challenge India faces today on the economic front - the creation of meaningful jobs for the million young people entering the workforce every month. Precedents on nomenclature and taxonomy are available from the way in which the Green bond market has evolved overseas, especially in the European Union. An idea for <keyword id="7836802" type="UNKNOWN" weightage="20" keywordseo="Budget-2020">Budget 2020</keyword> Given the government’s willingness to course correct on the CSR legislation, reflected for instance in its decision to allow R&amp;D activities funded by corporates within universities, to qualify as CSR spending, a new dimension could be added by allowing SRI to also qualify as CSR spending. Moreover, where funds are loaned, every rupee of such lending can lever significantly more funds through additional borrowings. Ways to extend this opportunity could include allowing funds to be raised on the proposed new social stock exchanges that the Finance Minister outlined in the last budget, and facilitating the entry of foreign capital in this space. With some innovative thinking and by employing creative financing mechanisms such as crowdfunding, we believe a whole new paradigm might emerge that draws substantial new funding into the socially responsible investing space. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/union-budget-2020-300-items-may-see-customs-duty-hike/articleshow/73316675.cms">Union Budget 2020: 300 items may see customs duty hike</a> <a href="https://www.businessinsider.in/budget/news/union-budget-2020-from-reducing-income-tax-slab-to-increasing-health-budget-these-are-some-suggestions-that-india-has-for-finance-minister/articleshow/73269766.cms">India's Prime Minister asked for budget 2020 suggestions — this is what some of the social media influencers had to say</a>

'Budget 2020 must make way for socially-responsible investing in India'⁠— here's why

Right after firing <keyword id="6356895" type="PERSON" weightage="20" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword> as the Chariman of <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword>, 3 members from Mistry’s executive council were told to meet the senior executive of the company. The executive briefed them about the decision on Mistry and were also offered a severance package equal to six month’s pay. However, all of them resigned over the next few days. 
 
The three members of the executive council, that were asked to meet the senior executives of Tata Sons were- Nirmalya Kumar, Madhu Kannan and NS Rajan. 
 The GEC was formed by Mistry in 2013 and was supposed to provide strategic and operational guidance to the chairman. The council included chief human resources officer Rajan, strategist Kumar, business development officer Kannan, former Titan Chief Operating Officer <keyword id="3854639" type="PERSON" weightage="20" keywordseo="Harish-Bhat">Harish Bhat</keyword> and Brand Custodian <keyword id="260997" type="PERSON" weightage="20" keywordseo="Mukund-Rajan">Mukund Rajan</keyword>. Mistry, besides Cyrus himself. 
 
The council is now left with only two members. Reportedly Mukund Rajan will be made chief sustainability and group ethics officer to manage Tata Sons' overseas operations. Bhat will be in charge of business development, which was earlier overseen by Kannan. 
 Mukund Rajan, in his new role will have to look after politically sensitive issues like the future of Tata's struggling steel business in the UK and <keyword id="42034" type="COMPANY" weightage="20" keywordseo="Jaguar">Jaguar</keyword> Land Rover's Chinese operations. 
 The new team will also include <keyword id="924795" type="UNKNOWN" weightage="20" keywordseo="S-Padmanabhan">S Padmanabhan</keyword> as the chief HR and he will continue as the chief technology officer.

Three of Mistry’s men were offered 6 months’ severance pay by the Tatas, right after Cyrus’ ouster

The government should abolish 5/20 rule for the <keyword id="1446" type="CITY" weightage="80" keywordseo="indian-airlines">Indian airlines</keyword> as it demands that an airline must have at least 20 planes and run domestic operations for five years before being eligible to start overseas flights, <keyword id="46894" type="PERSON" weightage="80" keywordseo="Tata-Sons">Tata Sons</keyword> <keyword id="2936491" type="UNKNOWN" weightage="60" keywordseo="Chief-Ethics-Officer-and-Vistara-Director">Chief Ethics Officer and Vistara Director</keyword> <keyword id="260997" type="PERSON" weightage="80" keywordseo="Mukund-Rajan">Mukund Rajan</keyword> told the Economic Times in an exclusive interview. 

	He said that the rule should be scrapped as local carriers that can go abroad cater to just 30% of Indians travelling overseas because of lack of capacity. 
 Vistara is India's newest airline which is jointly owned by the <keyword id="6355725" type="CITY" weightage="80" keywordseo="Tata-Group">Tata Group</keyword> and <keyword id="6368386" type="COMPANY" weightage="80" keywordseo="Singapore-Airlines">Singapore Airlines</keyword>. 

	On being asked about the reason behind Tata Group’s decision to enter the airline business, he said the company tried twice to enter the aviation sector but it never happened due to some reasons. “When the previous administration allowed foreign airlines to own stakes in Indian airlines, we were approached by AirAsia first and Singapore Airlines and both were with different kinds of offerings,” he told the financial daily. 
 Talking about the Indian aviation market, Rajan said that there is space for a low-cost carrier as well as for a premium airline, which <keyword id="6360137" type="CITY" weightage="80" keywordseo="kingfisher">Kingfisher</keyword> (grounded in October 2012) used to offer earlier. “So, these are two different segments and both our partners are the best in their respective spaces,” he added. 

	On being asked about Vistara’s performance since its launch in January, he told ET that in India there is a kind of traveller who is looking for a better travel experience in terms of hygiene and a little extra care during their travel and there is another kind looking for nothing extra and just for travel between points A and B. “Vistara, with its product offering, has been able to establish the distinction between a full service and a low-cost (carrier) and it will get pronounced further. We are probably the fastest carrier to be able to carry a million passengers in India and that we will achieve before the end of this fiscal,” he said.
 

	Talking about the price of tickets, he said: “We have a concept of dynamic fares, which keep changing based on 'n' number of factors. In terms of economy fares, we are competitive (with) any low-cost carrier but we would not get into offering fares and discounts like many airlines do in India. Our loads in the economy class of our aircraft are phenomenal. But Vistara also has seats in premium economy and business class, which are picking up and will pick up further.”
 After being asked to rate this NDA government, the <keyword id="2936490" type="UNKNOWN" weightage="80" keywordseo="Vistara-director">Vistara director</keyword> said: “ When we entered the aviation market in 2013, there was a sense that a lot of changes are beginning to happen. We have seen the debate on 5/20, Route Dispersal Guidelines (RDGs) and Domestic Flying Credits (DFCs). I am not so sure that the debate is getting resolved in a timely manner and gives clarity to the industry on the way forward. I am not certain that it is in line with the agenda laid out by the government in terms of making India a pivot for economic activity in this part of the world.” 

	Discussing other issues, he said: “Let us talk about hubs. To put it bluntly, our hubs are actually outsourced to foreign countries. I think hubs outside India have done a great job. Good luck to them. But why cannot these hubs be in India? An aviation hub can have a multiplier effect on the economy. Look at Atlanta, which is an aviation hub.” 
	 
	(Image: Indiatimes)

5/20 rule for Indian airlines must be scrapped, says Tata Sons' Mukund Rajan

<ul><li>A group of veteran leaders, academics and bureaucrats committed ₹300 crore to build Masters’ Union School of Business (MUSB) — where classes would be taught by chief executives. </li><li>The institute will offer a <keyword id="525673" type="ORGANIZATION" weightage="20" keywordseo="Post-Graduate-Programme">post graduate programme</keyword> in technology and business management (PGP TBM) — which is a 16-month programme with live projects, <keyword id="771927" type="PERSON" weightage="20" keywordseo="internships">internships</keyword> and field tours. </li><li>Backers include the director of the University of Oxford, Karthik Ramanna, the former chief economist at the Reserve Bank of India; Narendra Jadhav and Arun Maira, the former chairmen of the <keyword id="136162" type="COMPANY" weightage="20" keywordseo="Boston-Consulting-Group">Boston Consulting Group</keyword> (BCG).</li></ul>A group of veteran business leaders, academics and bureaucrats came together to build a model business school. Here, the classes would be taught by chief executives and not lecturers. <div type="image" title="MUSB2" msid="75081496" hostid="261"></div> As many as 19 of them have already committed ₹300 crore to build — Masters’ Union School of Business (MUSB) — where classes would be taught by chief executives and other business leaders. “The element I am most excited about is that the curriculum will be developed dynamically with inputs from leaders in business, leaders from the government as well as leaders from the third sector,” Karthik Ramanna, director of the University of Oxford University and one of the members of the group, said. First-hand look into the day of a CXO The ‘industry-immersed’ curriculum will be led by the leaders to provide a hands-on learning experience. “Masters’ Union will run a CXO shadow programme that would enable students to have a first-hand look into a day of a CXO to experience how organizations are run and business decisions are made,” the institute said. The technology-focused business school aims to formulate an ‘internship style’ academic calendar which will entail boot camps in AI, blockchain, SAAS and cybersecurity. Each student will receive a one on one apprenticeship. “In medical schools, doctors teach students, practicing lawyers teach in law schools, but in business schools, faculty may not have experience with hands-on leadership in the industry. That’s a gap Masters’ Union addresses by getting CXOs, MDs and business leaders to teach and train students,” said Tathagata Dasgupta, founding master at MUSB and former chief data scientist at Viacom. Gurugram and its 600 MNCs Apart from Ramanna, the institute’s founding members include top leaders like Mukund Rajan, former MD of Tata Teleservices; Narendra Jadhav, former chief economist of Reserve Bank of India; and Arun Maira, the former chairman of the Boston Consulting Group (BCG). The institute will be built in cyber city in Gurugram— with over 600 multinationals in the vicinity. The institute will offer a post graduate programme in technology and business management (PGP TBM) — which is a 16-month programme with live projects, internships and field tours across industries like ecommerce, technology, product and banking. It will also establish a student-run venture fund worth ₹5 crore for investments in areas like real estate and capital markets and a research forum. “The Centre for New Business Models would be a research-based forum that will formulate business opportunities in newer technologies like blockchain, bio-tech, and machine learning,” the official release said. Here’s the full list of the founding masters at Masters’ Union School of Business and their teaching areas. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Masters </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Teaching areas </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Arun Maira (Former Chairman, Boston Consulting Group) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Management consulting </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mukund Rajan (Former MD, Tata Tata Teleservices) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brand custodian </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Satish Krishnan (Former MD, Financial Markets, Standard Chartered Bank) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Financial markets and fintech </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Harsh Mishra (Former Group President, Adani Group) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Negotiations in the global economy </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rajiv Gulati (Former MD, Eli Lilly and Company) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business of Pharmaceuticals </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tathagata Dasgupta (Former Chief Data Scientist, Viacom) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">AI, ML, Blockchain in Business </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Elkana Ezekiel (Former CMO, Samsung Electronics) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Building a successful brand </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Siddhartha Rastogi (MD, Ambit Capital, Asset Management) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Raising capital </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Malavika R Harita (Former CEO, Saatchi &amp; Saatchi Focus Network India) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Integrated marketing communications </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Karthik Ramanna (Director, University of Oxford and Former Professor, Harvard Business School) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business and public policy </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bhaskar Chakravorti (Former Professor, Harvard Business School and Former Partner, McKinsey &amp; Company) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">International Business </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Raghu Raman (Former President, Reliance Industries Limited and Former CEO, Mahindra Defence Systems) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Leading in a VUCA world </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Narendra Jadhav (Member of Parliament, Rajya Sabha and Former Chief Economist, RBI) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Economy </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M.V. Rajeev Gowda (Member of Parliament, Rajya Sabha and Former Professor, IIM Bangalore) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business decision making </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mihir Mankad (Former Professor, Harvard University) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Communication </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shailaja Chandra (Former Chief Secretary, Govt. of Delhi) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Influence of government on business </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prem Das Rai (Former Member of Parliament, Lok Sabha) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Influence of politics on business </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">K Sujatha Rao (Former Health Secretary, Govt. of India) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Creating value in health </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Baba Prasad (CEO, Vivékin Group) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business strategy for managers </td></tr></tbody></table>

A group of Indian veterans raise ₹300 crore to build a B-school where chief executives will teach

There are six assembly seats within the Lok Sabha constituency of Thane. The list of them includes Mira Bhayandar, Ovala-Majiwada, Kopri-Pachpakhadi, Thane, Airoli, and Belapur. All of them are general seats and none are reserved. For the upcoming assembly elections for the Vidhan Sabha of Maharashtra, Manda Mhatre will field for BJP from Belapur seat. Sandip Naik will field for BJP from Airoli seat. Shiv Sena is fielding Pratap Sarnaik from the Ovala-Majiwada seat. INC’s Sayyad Muzaffar Hussain will take on BJP’s Narendra Meheta from the Mira Bhayandar constituency. Sanjay Kelkar is the Thane seat contestant for the BJP. As per the announcement made by the Election Commission, all the assembly constituencies of Maharashtra will go for polling on October 21, 2019 and the votes will be counted on October 24, 2019. In the 2019 general elections for the Lok Sabha, the winning candidate who was elected as the MP for this constituency was Vichare Rajan Baburao of SHS. He scored 281,299 votes more than the NCP contestant Sanjeev Ganesh Naik. Fr0om the Mira Bhayandar seat, Narendra Mehta of BJP secured 32292 votes more than the runner up of NCP Gilbert Mendonca and won the seat. Ovala – Majiwada seat was won by SHS contestant Pratap Baburao Sarnaik who scored 10906 votes more than the BJP candidate Sanjay Pandey. Kopri Pachpakhadi winner was SHS candidate Eknath Sambhaji Shinde who overtook the BJP contestant Adv.Sandeep Lele with a margin of 51869. From the Thane seat, Kelkar Sanjay Mukund of BJP took a margin of 12588 votes more than SHS candidate Ravindra Sadanand Phatak and won the seat. The Airoli seat winner was Sandeep Ganesh Naik of NCP who secured 8725 votes more than Chougule Vijay Laxman of SHS. The winner from the Belapur seat Manda Vijay Mhatre of BJP had scored 1419 votes more than the NCP contestant Ganesh Naik.

Maharashtra assembly election 2019: Mira Bhayandar, Ovala-Majiwada, Kopri-Pachpakhadi, Thane, Airoli, and Belapur candidate list

As the price competition in India’s telecom space heats up, a number of smaller players are falling by the wayside. <keyword id="6359475" type="COMPANY" weightage="20" keywordseo="tata-teleservices">Tata Teleservices</keyword>, which comprises the <keyword id="6711152" type="UNKNOWN" weightage="20" keywordseo="docomo">DoCoMo</keyword> network and T24 mobile service, posted a net <keyword id="6357392" type="UNKNOWN" weightage="20" keywordseo="loss">loss</keyword> of ₹275 billion ($4 billion) for the financial year 2017-18 - the largest ever loss in a financial year for an Indian company. In addition, another company in the telecom space, Reliance Communications (not to be confused with Reliance <keyword id="2003276" type="PERSON" weightage="20" keywordseo="Jio">Jio</keyword> Infocomm Ltd), posted the second largest annual loss for an Indian company in 2017-18. The company, which is headed by Anil Ambani, reported a loss of ₹239 billion for the year, after ending its wireless operations and offloading its telecom infrastructure to Jio. The free sale to Airtel Tata Teleservices’ net revenue almost halved in 2017-18 to ₹70 billion as it sold off its wireless business. While the company’s operating loss was a relatively paltry ₹6.6 billion, its huge overall loss is mostly due to the fact that it sold its wireless services business to market leader Airtel in October 2017 for <a href="https://economictimes.indiatimes.com/news/company/corporate-trends/tata-teleservices-to-sell-its-wireless-mobile-business-to-bharti-airtel/articleshow/61051618.cms">absolutely nothing</a>, taking a write-off on the entire unit in the process. The debt-ridden wireless business had been making losses for years on end, which is why Tata was looking to exit the unit completely. The unit was originally a joint venture with NTT Docomo, a Japanese mobile operator, which sold off its 26% stake at a considerable loss in 2014. With the pending sale to Airtel, Tata will be able to offload some of its current spectrum payment obligations. The rest of the business? The future of the remaining parts of Tata Teleservices is not completely certain. In March 2018, the former managing director of Teleservices,Mukund Govind Rajan, mounted a $1 billion bid along with TPG, a private equity firm, for the the parts of the business that were unsold - the enterprise communications and fibre segments. However, Tata Teleservices’ parent, Tata Sons, rejected the bid, saying it would merge the business with Tata Communications, its internet provider subsidiary, instead. This is contingent on the approval of the government, which has a 26% stake in Tata Communications. It will probably not be too keen on forking out a proportional amount (around $260 million) to buy the remaining parts of Teleservices. It is still said to be assessing the merger.

India Inc’s biggest loss now belongs to a telco

The Delhi chapter of <keyword id="139680" type="COMPANY" weightage="20" keywordseo="The-Indus-Entrepreneurs">The Indus Entrepreneurs</keyword> (TiE) will host on Thursday the 8th iteration of the <keyword id="4390638" type="PERSON" weightage="20" keywordseo="India-Internet-Day">India Internet Day</keyword>, one of the largest conferences for Internet entrepreneurs in the country. India Internet Day 2019 targets entrepreneurs which attracts start-ups, unicorns, industry leaders, investors, mentors, policy-makers, and many more key domain experts from across the country every year India is presently home to over 500 million internet users and 21 unicorns. With the aim of raising a hundred start-ups and enterprises to become billion-dollar companies on the back of their internet-centric innovations, TiE Delhi-NCR is hosting the 8th iteration of India Internet Day. The vision of #iDay2019 is encapsulated in the headline of the event’s main theme: “India Internet Unboxed: Getting ready for a 100 Unicorns”. Enabling the next generation of leaders At iDay 2019, leaders of the internet and entrepreneurial community will deliver content for the benefit of young entrepreneurs, enabling the next generation of leaders to gain a deeper insight into the opportunities and evolving trends in the industry, Tie said in a statement. Building on the theme of ‘unboxing’, iDay2019 plans to have focused and thought-provoking discussions during the session line-up on topics including: Unboxing Indian Tech Going Global, Unboxing Funding, Unboxing Talent, Entrepreneurial Milestones: Unboxing Pivots &amp; Pirouettes to Exits, Unboxing 2nd Innings, Unboxing Valuations. It will also have a special focus on the Chinese startup ecosystem, key speakers will speak on Unboxing China, its Landscape &amp; Overview, Chinese VCs in India - A perspective and Cross Border Learnings. Additionally, entrepreneurs will be provided with a platform to showcase internet-centric innovations and get constructive feedback on their ventures. All about networking The conference is one of the most anticipated entrepreneurial conferences across the world as it gathers entrepreneurs and vision-holders in the midst of key investors, industry leaders, and policy-makers under the same roof. It will have sessions that will chaired by prominent industry leaders including Vani Kola, MD, Kalaari Capital, and Rajesh Sawhney, CEO &amp; Co Founder of Innerchef, the conference will open with a keynote address by Vijay Shekhar Sharma, Founder &amp; CEO of PayTM. The opening address will be followed by conversations with industry experts including Anant Maheshwari, President - Microsoft India and Rajan Anandan, Vice President, Google &amp; President, TiE Delhi-NCR. Other ace speakers include Lathika Pai, Country Head - Microsoft for <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">Startups</keyword> MENA and SAARC , Gaurav Deepak, Co-founder &amp; MD - Avendus Capital, Anand Lunia, General Partner – India Quotient, Helen Wong, Partner at Qiming Venture, Yun Lou, Founder &amp; CEO of Clubfactory, Hans Tung - Partner, GGVC Kunal Shah, Founder &amp; CEO – Cred, Amrish Rau, Ex CEO – CitrusPay, Aprameya Radhakrishna, Founder &amp; CEO of Vokal, Raul Rai, Co-Founder of Nicobar.com, and Mukund Kulashekaran from Urban Clap. Power Breakfast with the iDay Committee The event will kick off with a breakfast with industry leaders and the best in the startup ecosystem. The committee members who will be a part of this event include Rajan Anandan, Vice President, Google &amp; President, TiE Delhi-NCR; Alok Mittal, Co-Founder, Indifi Technologies; Amarjit Singh Batra, Managing Director, Spotify India; Arvind Jha, Multipreneur, Movico Technologies; Miten Sampat, VP, Times Internet; Deep Kalra, Founder &amp; Group CEO, MakeMyTrip; Gautam Gandhi, Angel Investor; Prasanto K Roy, Policy Consultant ; Karan Mohla, Partner &amp; Executive Director of Chiratae Ventures; Ravi Gururaj, Founder &amp; CEO, Qikpod; Dev Khare, Partner, Lightspeed India Partners. B2B Founders' Lunch Ace B2B founders who will be part of this session include Shridhar Gupta, Co-Founder - Loconav; Pranav Tyagi, Founder - Eigen; Ajay Chauhan, Co- Founder -SalezShark; Sachin Bhatia, Co-Founder &amp; Ex VP - Drishtisoft solutions; Rahul Bhalla, CEO &amp; Co Founder -Zeanatix will be part of the lunch tables Fintech Lunch Leading Fintech founders who will be part of the lunch include Ajay Vikram Singh, Consumer Business Head- Clix Capital ; Jonathan Bill, CEO &amp; Co- Founder – Creditmate; Kshitij Puri, CEO &amp; Co- Founder - Ziploan ;Sandeep Srinivas, Co-Founder &amp; CMO - Redcarpet Tech ; Kapil Mehta, Co - Founder – SecureNow; Alok Bansal, Co-Founder &amp; CFO – PolicyBazaar ; Mukesh P Kalra, Founder &amp; CEO – ETMoney #iDay Launchpad A platform at India Internet Day where tech businesses have a chance to demo/launch their new products/services in front of a large relevant audience of VCs, entrepreneurs etc. The start-ups will be selected by an influential jury panel #iDay Workshop A stellar workshop on product management professionals with Anshumani Ruddra, VP of Product (Social &amp; Gaming) – Hotstar will equip participants with new strategies &amp; principles to ace their field Gala Evening Network, interact, explore synergies over dinner and jive the evening away with a rocking band performance! The conference will take place from 8:00 am to 6:00 pm on 25th April, 2019, at Leela Ambience, Gurugram. Register here now! <a href="https://www.iday.in/">https://www.iday.in/</a> Note: Business Insider India is a media partner at the event.

Here’s all that you need to know about the upcoming India Internet Day 2019

As soon as <keyword id="6356895" type="PERSON" weightage="100" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword> was removed as <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> Chairman, the <keyword id="1656430" type="ORGANIZATION" weightage="20" keywordseo="Group-Executive-Council">Group Executive Council</keyword> (GEC), which was set up by him in 2013, was dismissed. 
 
The GEC was set up with an aim to provide strategic and operational support to Mistry. The Council included N S Rajan from Ernst &amp; Young, Tata brand custodian Mukund Rajan, ex-BSE chief Madhu Kannan, strategist Nirmalya Kumar and Tata veteran Harish Bhat. 
 
As per various reports, Rajan and Bhat will be offered new roles within the group and it is still unclear about the remaining members. 
 
Soon after making public the departure of Mistry, Tata Group's website removed all the details related to the GEC, including profile of the members. 
 
"The page you are looking for has been moved or removed," said a message on the web page of GEC on Tata group's official website. 
 
Comments could not be obtained from Tata Sons on the same. 
 
The GEC had replaced the roles earlier which were performed by the group corporate centre (GCC) and the group executive office (GEO) before Mistry took over as Chairman. 
 Meanwhile in a letter to Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>, <keyword id="6360722" type="PERSON" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword> informed that the Board of Directors of Tata Sons has in its meeting today decided to replace Cyrus P Mistry as Chairman with immediate effect. 
 
"A new management structure is being put in place and a selection committee has been constituted to identify the next chairman," he said in the letter. 
 
Subsequent to the day's development, Tata group's listed firm Tata Motors and Tata Power informed the bourses about Mistry's departure. 
 
"Ratan N Tata shall be the Interim Chairman of Tata Sons Limited until the new Chairman is appointed in accordance with the procedure prescribed in the Companies Act, 2013 and the Articles of Association of Tata Sons Ltd," Tata Motors informed the BSE. 
 
"This being a material development, the necessary disclosure is being made to the stock exchange," Tata Power said while informing the bourses. 
 
Tata group has several listed entities, including Tata Chemicals, Indian Hotels Co Ltd, Tata Coffee, Tata Elxsi, TCS, Tata Global Beverages, Tata Investment Corporation, Tata Sponge Iron, Tata Steel and Tata Teleservices. 
 
The Tata group comprises over a 100 operating companies spread across six continents. 
 
In 2015-16, the revenue of Tata companies, taken together, was USD 103 billion and collectively employed over 6,60,000 people.

Soon after Cyrus Mistry’s removal, Tata Sons disbands Group Executive Council set up by him

With its listed firms adding over USD 100 billion to market capitalisation in the last 15 years, the <a href="http://www.businessinsider.in/searchresult.cms?query=Tata+Group+">Tata Group</a> is looking at an increase of nearly USD 250 billion by 2025, including through <keyword id="30345" type="ORGANIZATION" weightage="100" keywordseo="acquisitions">acquisitions</keyword>.<o:p></o:p>

	The group will not shy away from global buyout activity and will continue to make significant investments in both existing as well as new businesses, including in the digital space to meet its vision 2025 targets.<o:p></o:p>

	“At the turn of the century, we had a relatively small market cap of just under USD 8 billion. We have added a 100 billion dollars plus to that in the last 15 years. I am quite confident that this will continue to grow,” Member-Group Executive Council and Brand Custodian, Tata Sons, Mukund Rajan told.<o:p></o:p>

	The <keyword id="6355725" type="CITY" weightage="100" keywordseo="Tata-Group">Tata group</keyword> has over 100 independent operating companies out of which 29 are publicly-listed. The listed entities had a combined <a href="http://www.businessinsider.in/searchresult.cms?query=market+capitalisation">market capitalisation</a> of about USD 134 billion as on March 31, 2015. It has presence in over 100 countries across six continents.<o:p></o:p>

	The main listed Tata group companies, include Tata Steel, <a href="http://www.businessinsider.in/searchresult.cms?query=Tata+Motors">Tata Motors</a>, Tata Consultancy Services, Tata Power, Tata Chemicals, Tata Global Beverages, Tata Teleservices, Titan, Tata Communications and Indian Hotels.<o:p></o:p>

	When asked about the target M-cap under the group’s 2025 vision, Mr. Rajan said: “Today we are well over USD 100 billion. By 2025, if we want to be amongst the 25 most valuable companies in the world, the number we would need to hit would be around USD 350 billion.”<o:p></o:p>

	“As per its 2025 vision, Tata group aims to be amongst the 25 most admired corporate and employer brands globally, with a market capitalisation comparable to the 25 most valuable companies in the world,” he said.<o:p></o:p>

	“If you look at the true valuation of Tata enterprises (today) as a group, it would in fact be substantially higher than what the additional USD 100 billion of market cap represents,” he said.<o:p></o:p>

	With the group taking the acquisition route successfully, such as Tetley, <keyword id="45218" type="ORGANIZATION" weightage="100" keywordseo="JLR">JLR</keyword> and Corus to expand globally, it will not shy away from such activity again.<o:p></o:p>

	“I can’t predict what the future will bring to us but what I can certainly say is that thanks to Mr Tata we have the courage to make such acquisitions and when opportunities present themselves, we will appropriately deploy our learnings from the past in any future acquisitions,” Rajan said when asked if there could be as big an acquisition as Corus or JLR by the Tata group again.<o:p></o:p>

	Clearly stating the group’s appetite for inorganic route of growth, he said: “We have significant cash on the books of many of our companies. When we contemplate acquisitions, the timing will have to be picked carefully and we will need to pick the right moment in the economic cycle to close those acquisitions.”<o:p></o:p>

	Mr. Rajan, however, said apart from acquisitions the group would need to continue to make significant <a href="http://www.businessinsider.in/searchresult.cms?query=investments+">investments</a> in both existing businesses and some of the new businesses, including in the digital space to meet its vision 2025 targets.<o:p></o:p>

	
		“There are new markets that we need to expand our footprint in. Obviously, markets like China will continue to grow in stature and size and we need to correspondingly ensure that our focus in those markets is also enhanced,” he said.<o:p></o:p>

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