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Asia’s biggest co-working space, <keyword id="3502552" type="UNKNOWN" weightage="20" keywordseo="Awfis">Awfis</keyword> with 2,500 seats is not just changing the way we work but is making sure we actually work. 
 Awfis recently launched a mobile office which is typically a van equipped with all the features you need on-the-move to work. Facilities like Wi-Fi; teleconferencing, printing, <keyword id="6354857" type="COMPANY" weightage="20" keywordseo="CCTV">CCTV</keyword> ,pantry and even a meeting table for their partner companies that want the employees’ commute time to be used productively. Now, that’s effective considering if you are forced to commute to Gurgaon or <keyword id="6356788" type="COMPANY" weightage="20" keywordseo="Greater-Noida">Greater Noida</keyword> for work and you live in Delhi, the commute time can easily range between 2-4 hours every day, to-and-fro. 
 Amit Ramani, CEO, <keyword id="3207074" type="UNKNOWN" weightage="20" keywordseo="Awfis-Space-Solutions">Awfis Space Solutions</keyword> caught up with <keyword id="824043" type="COMPANY" weightage="20" keywordseo="Business-Insider">Business Insider</keyword> to tell us how Awfis is making sure that people ACTUALLY WORK at the office. ‘We are providing real-time analytics to companies that want to know if their employees are actually working out of our co-working space.’ Awfis has many companies like <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword>, Renew Power, FICCI etc. are taking up seats at the co-working facility to give their employees an option to work near-home. 
 
<a href="http://www.businessinsider.in/A-survey-reveals-60-of-employed-Indians-aspire-to-be-entrepreneurs/articleshow/55152360.cms">The employees can be tracked </a>through CCTV cameras, in-out times and of course through Wifi usage. Good day for the honest workers. 
All of this to ensure that you are working, at your convenience. 
 
<a href="http://www.businessinsider.in/Snapdeal-is-moving-its-employees-to-co-working-setup/articleshow/55182709.cms">ALSO READ: Snapdeal is moving its employees to this co-working setup</a> 
 
Sadly for workers,<a href="http://www.businessinsider.in/Now-you-can-list-your-car-for-rent-and-get-paid-for-it/articleshow/55154351.cms"> traffic </a><a href="http://www.businessinsider.in/Now-you-can-list-your-car-for-rent-and-get-paid-for-it/articleshow/55154351.cms">jams</a><a href="http://www.businessinsider.in/Now-you-can-list-your-car-for-rent-and-get-paid-for-it/articleshow/55154351.cms">, </a>and bad connectivity can no more be valid excuses for missed deadlines.

This ‘Awfis’ is making sure that employees work every minute
of the working hours

According to reports, e-commerce giant <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> is shifting their staff from a 200-capacity space in Malad, Mumbai to about 90-seats in the <keyword id="3502552" type="UNKNOWN" weightage="20" keywordseo="Awfis">Awfis</keyword> Space Solutions. 
 The first thought that comes to mind after reading this is that the e-commerce industry in India is running into such high losses that cutting costs has become necessary. The other thing worth noting is the fact that <keyword id="2498362" type="UNKNOWN" weightage="20" keywordseo="co-working">co-working</keyword> spaces have become such a norm that companies prefer it over the traditional office space. 
 Even as cash-strapped <keyword id="6362513" type="ORGANIZATION" weightage="20" keywordseo="Startups">startups</keyword> are creating demand for co-working spaces in the metro cities, it is not clear why Snapdeal decided to move employees into this setup. The company told media earlier that the move to shift its Mumbai office to a co-working hub is not aimed at <a href="http://www.businessinsider.in/Now-you-can-list-your-car-for-rent-and-get-paid-for-it/articleshow/55154351.cms">cost reduction.</a> It is to make commuting easier for as the new office is centrally located and provides better public transport connectivity with Mumbai metro in the vicinity. 
 
However, sources have confirmed that the company's move comes after it decided to cut on the space requirements as per the <a href="http://www.businessinsider.in/Redefining-the-concept-of-tea-breaks-for-corporates/articleshow/55095324.cms">business demand</a>. 
 According to a <keyword id="6363605" type="CITY" weightage="20" keywordseo="knight-frank">Knight Frank</keyword> report, any office space maintenance and cost in Mumbai, Delhi or Bangalore can cost between US$25,000 to US$30,000 a year. The report suggested that office sharing could save new businesses between 73 percent and 76 percent of the total cost. In India as of now, there are close to 61 co-working spaces, according to startup tracking firm Traxcn, of which 16 were set up in 2016 and this number keeps growing. Recently, U.S. office rental startup WeWork announced that it is opening a center in India starting from the second quarter of 2017. 
 
So what is the real pull here? Most start-ups working out of this space think it’s the opportunity to work with people with different skill sets that can act as a pool of talent, mentors, and advice. 
 
<a href="http://www.businessinsider.in/A-survey-reveals-60-of-employed-Indians-aspire-to-be-entrepreneurs/articleshow/55152360.cms">ALSO READ: A survey reveals 60% of employed Indians aspire to be entrepreneurs</a> 
 Awfis specifically has turned it into a lucrative marketing channel for financial and consumer brands partnering with 50 brands including Dunkin Donut, MakeMyTrip, <keyword id="87153" type="CITY" weightage="20" keywordseo="BNP-Paribas">BNP Paribas</keyword> and OLX to provide members with discounts in exchange for marketing commission. So while on their website, a 9 persons office in <keyword id="6366112" type="ORGANIZATION" weightage="20" keywordseo="Andheri-East">Andheri East</keyword> costs INR 117,000 per month or INR 5,000 per month for a desk, Snapdeal might just have struck a smart deal with the enterprise. 
 <keyword id="824043" type="COMPANY" weightage="20" keywordseo="Business-Insider">Business Insider</keyword> caught up with Amit Ramani, CEO, Awfis Space Solutions, which is <keyword id="52011" type="CITY" weightage="20" keywordseo="South-Asia">South Asia</keyword>'s biggest co-working space provider with 2500+ seats, and he was very bullish on the idea that big corporates are adjusting to co-working spaces,' The MSME sector will lead the change when it comes to debunking the conventional office spaces. Many organisations like Renew Power, FICCI are working with us to give their employees a chance to work near their homes instead of battling traffic which saves time and money and increases productivity scores.' 
​ 
The actual premise is that traditional offices are out of date. People everywhere, at start-ups or in large corporations, want open, creative spaces with cross collaboration, latest services like internet, security, food, and coffee and fresh design that doesn’t bore them. 
 
<a href="http://www.businessinsider.in/Heres-how-you-can-go-kayaking-cliffjumping-snorkelling-ziplining-and-camping-all-in-just-under-Rs-4000/articleshow/55113996.cms">They don’t mind a desk job as long as it is on a bean bag in the middle of a coffee shop.</a> 
 
Image credits- Awfis.com

Snapdeal is moving its employees to this co-working setup

New Delhi, Apr 2 () The central government has asked states to continue to buy power from renewable energy producers and clear their dues "on a regular basis as was being done prior to the lockdown". The Ministry of New and Renewable Energy on April 1 wrote to all states and electricity distribution companies after renewable energy producers complained that some states were curtailing purchase and payment for electricity generated from sources such as solar energy. In the letter, the ministry said the power ministry has recently issued instructions providing for a moratorium to distribution companies or discoms for making payments to electricity generating companies in the wake of COVID-19 outbreak and the following nationwide lockdown. Some state discoms, however, used that order to start curtailing renewable energy power terming the prevailing situation a 'force majeure' condition. The ministry, according to the letter reviewed by , directed the discoms to accept invoices and billing through emails and make payments to renewable energy generators as per their power purchasing agreements (PPAs). "Renewable energy generating stations have been granted 'must-run' status and this status of 'must-run' remains unchanged during the period of lockdown," it said. Solar and wind electricity generating stations have been granted a place in the "essentials" list exempted from the lockdown, and they will be allowed to continue to function during the lockdown period. "Since discoms have already been given sufficient relief and as electricity from renewable energy (RE) comprises only a minor portion of the total electricity generation in the country, the payments to RE generators be done on a regular basis as was being done prior to the lockdown," it said. The direction from the Centre followed Indian Renewable Energy Alliance writing to the ministry saying the generators need a continuous flow of cash to ensure they stay afloat, keep plants running, repair any failures, buy spare parts and continue to employ workforce. "Now despite there being no mention of a moratorium on the payments to be made by the discoms (to renewable energy generators), some discoms are purposely misconstruing the intent to deny payments to RE generators," it had written on March 31. It said RE industry was already grappling with payment issues from state discoms and was still in a long onging legal battle with Andhra Pradesh discoms. "On top of that, if generation payments abruptly stop from the discoms who are buying our energy, there will be hugely negative consequences for the entire RE industry," the letter said warning of the industry's ability to operate and maintain the power plants, pay solar park charges and land lease charges. Also, in the absence of the payments, they may not be able to service a large pool of overseas debt. "All of this will lead to a loss of jobs for labour and contractors at the site, income for small owners, and damaging all the future investments in the solar sector," it wrote. Industry chamber FICCI also wrote to Power and Renewable Energy Minister R K Singh on March 30 stating if generation payments abruptly stop from all discoms, who are buying their energy, there will be huge negative consequences for the entire RE industry, impacting their ability to operate and maintain the power plants. "This will lead to loss of jobs," it said. FICCI said while the three-month loan moratorium advisory announced by the RBI is a positive step, it may not be sufficient to sustain RE generators. "RE sector will still need to service the significant international debt exposure in the form of ECB and green bonds," it wrote. Stating that RE generation industry needs a continuous flow of cash to ensure they stay afloat, FICCI said considering the gravity and extent of the pandemic, it is vital that liquidity in the sector is not impacted. ANZ ANZ ANUANU

Centre asks states not to stop payment of renewable energy generators

This time when Finance Minister Arun Jaitley will present Budget 2016-17 on February 29, the renewable energy sector will be pinning hopes as they have sought VAT exemption and incentives for solar parks. 
 
The solar industry has demanded a sovereign fund to back dollar-denominated solar tariffs, solar equipment exempted from value added tax (VAT) as well as stability in wind power policies from Jaitley. 
 
FICCI maintained that solar parks should be exempted from MAT. 
 
"Solar parks should be treated at par with special economic zones (SEZs) and minimum alternate tax (MAT) exemption may be provided to power projects within solar parks," FICCI’s pre-budget memorandum stated. 
 
The industry body has also sought 2% export incentive that was given for solar components until last year but now is restricted to Category B countries. 
 
Renewable energy projects have the benefit of accelerated depreciation (AD) by which developers are allowed to claim 90% depreciation in the first year of functioning itself. 
 
Experts say the dollar-based solar tariff fund would be huge for foreign investors worried about the depreciating rupee. 
 
Meanwhile, solar manufacturing has a different view. 
 
"The simple problem with solar cell and module manufacturing in India is that it is not competitive," Jasmeet Khurana, associate director consulting, Bridge to India, told ET, adding “making them cheaply and well depends on scale, access to cheap capital, vertical integration with access to cheap and reliable energy and a level playing field against other Asian manufacturers. None of these are available in India."

Budget 2016: Renewable energy sector seeks VAT exemption on solar equipment, tariffs

The top Indian startups with valuation of over $1 billion each are on a hiring spree and more than half of all job postings by these unicorns are for fresh graduates, according to recent data from global job site Indeed. The report says four unicorns - <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword>, <keyword id="6357120" type="COMPANY" weightage="20" keywordseo="PayTM">Paytm</keyword>, ShopClues and <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> - make up around 90 per cent of all job postings. "Indeed's latest study reveals that more than half (57 per cent) of all job postings by unicorns are for fresh graduates. This is encouraging for millions of young freshers looking to jumpstart their careers with young companies, and being a part of the exciting startup ecosystem," says Sashi Kumar, India Managing Director at Indeed. With the Indian e-commerce market expected to grow at 30 per cent a year, and attain a valuation worth $200 billion by 2026, companies like Snapdeal, ShopClues and Flipkart are experiencing a boom in business. Moreover, digital service providers like Paytm and Zomato too are thriving, given the government's demonetisation drive and push for cashless transactions and the widespread penetration of mobile literacy. Kumar says - "Our earlier study on job flexibility also indicates a trend towards contractual hiring in these firms, which reaffirms the growing affinity among today's new-age job seekers, who look at striking a balance in work- life integration." Snapdeal topped the chart in terms of percentage of total job postings at 53 per cent, followed by Paytm at 23 per cent, ShopClues (11 per cent), Flipkart (4 per cent), Zomato (4 per cent), Ola Cabs (3 per cent) and InMobi (2 per cent) among others. While the top four firms in terms of hiring together make up over 90 per cent of all jobs posted, the region that saw maximum number of postings from these companies is Delhi NCR, with an overwhelming majority of 83 per cent. The Indeed study included an analysis of job postings from Flipkart, Hike Messenger, InMobi, Mu Sigma, Ola Cabs, Paytm, ShopClues, Snapdeal, RenewPower and Zomato, which were identified as the top Indian startups valued at over $1 billion. All job queries posted within the time-frame of October 31, 2016 to October 31, 2017 were considered for this study.

Unicorn startups Paytm, Snapdeal, Flipkart are on a hiring spree in India

<ul><li>Several media reports had claimed that the listed <keyword id="45008" type="CITY" weightage="20" keywordseo="Tata-Power">Tata Power</keyword> is looking to separately list its renewable energy business.</li><li>As per reports, Tata Power is looking to raise $473 million through the said IPO.</li><li>However, in a regulatory filing on Monday morning, the company denied the same.</li></ul>Tata Power, a listed subsidiary of the <keyword id="6355725" type="COMPANY" weightage="20" keywordseo="tata-group">Tata Group</keyword>, has denied news reports of an initial public offering (IPO) of its renewable energy business. Over the weekend, several <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/tata-power-mulling-473-million-renewable-energy-unit-ipo/articleshow/82330525.cms">media reports</a> had claimed that the listed Tata Power is looking to separately list its renewable energy business. As per the reports, Tata Power is looking to raise $473 million through the said IPO. However, in a regulatory filing on Monday morning, the company denied the same. “It may be noted that such reports are speculative in nature and the Company has taken no such decision. In the course of the business, the Company evaluates various business options. As and when a decision is taken, the same shall be communicated to the Stock Exchanges as per regulations,” said the company’s statement. The shares of the company fell marginally on Monday morning after its clarification. The shares were trading at ₹98.25 at 10.30 a.m. Earlier, <a href="https://economictimes.indiatimes.com/markets/stocks/news/tata-power-tanks-11-on-invit-deal-falling-through/articleshow/82038396.cms">Tata Power</a> was set to raise $2 billion from Malaysian oil giant Petronas, however the plan didn’t go through. Tata Power is one of the leading energy companies in the country and has a total capacity of 12.8 Gigawatts – the third largest in the country. The reports for an IPO of its renewable energy business comes at a time when another leading renewables business <keyword id="944686" type="COMPANY" weightage="20" keywordseo="renew-power">ReNew Power</keyword> has announced its market debut plans. The Sumant Sinha-led company is headed for a US stock market debut through a special purpose acquisition company (SPAC), and aims for a $8 billion valuation. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/reliance-industries-earnings-disappoints-markets-stocks-fall-by-over-2-in-morning-trade/articleshow/82364515.cms">Reliance Industries’ earnings disappoint markets – stocks fall by over 2% in morning trade</a>

Tata Power says it has made ‘no such decision’ on an IPO for its renewable energy business

New Delhi, Feb 25 () Critical personal data of the people must be kept within the country, Niti Aayog CEO Amitabh Kant said here on Tuesday.The statement comes in the backdrop of India mandating global technology giants including Mastercard and Visa to comply with the data localisation norms in the public interest. Data localisation requires data about residents be collected, processed, and stored inside the country, often before being transferred internationally, and usually transferred only after meeting local privacy or data protection laws."On cross border data, I am quite clear that...there is vast amount of data and critical personal data must be kept within the country. I am a great believer that the personalised critical human data definitely must be kept within the country," he said.Kant also said that the government is in the process of creating a portal to share data on public platform for public use as India generates a huge amount of data."India has a vast amount of data. Niti Aayog is working on a portal to put this data in an anonymous manner in public domain so that the people across the sectors can utilise it," he said at the US-India Forum organised by industry body FICCI and supported by the central government.India has over 2,000 startups working in artificial intelligence and machine learning and the start-ups can't be starved of the data. "There is a need to create an economic framework for data pooling as a business resource in a responsible manner. It is not possible for India to grow rapidly at high rates without a technological leapfrogging in many areas of growth. India has to get into sunrise areas of the industry, and I believe India can radically change the landscape of electric mobility," said Kant.The Niti Aayog CEO said India offers the size and scale to do innovations across health and education among other sectors. India has a scale of data that no other country can offer. "Indians are going to use data to a greater size and scale as we are the only country in the world which has a varied bank of biometrics," he added.Aruna Sundararajan, former telecom secretary, said: "We must open up and enlarge the regulatory sandboxes in every area and have a full play for innovations."In a separate session on Advancing US-India Energy Cooperation, ReNew Power Chairman and Managing Director Sumant Sinha said there is a need for structural reforms in the power sector.The most important thing that needs to be looked at is that renewable energy is subset of power sector, he said, adding unless some structural reforms in the power sector are done, there will be problems in all parts of value chain in power sector including renewables. "We have state power distribution companies which are in poor financial health. If the health of discoms does not improve then fundamentally we will not have healthy power sector. It is not just renewables but also thermal power generating companies (which are affected due to discoms non-payment)," Sinha said.He also talked about issues such as land acquisition, local connectivity which need to be sorted out to give boost to power sector in the country. KPM KKS MKJ

Critical personal data must be kept within country: Niti CEO

<a href="http://www.businessinsider.in/searchresult.cms?query=Solar+power&amp;sortorder=effectivedate">Solar power</a> in India crossed 7.5 GW mark in May 2016. India's solar projects have crossed 22 GW with 13 GW under construction and 9 GW in the request for proposal process. 
 
However, while the government has shown a strong commitment to <a href="http://www.businessinsider.in/searchresult.cms?query=renewable+power&amp;sortorder=effectivedate">renewable power</a>, including solar, it only represented 2.5% of net installed power generation capacity in India, up from 1.4 % a year ago. 
 
Low bidding levels have also been a major concern. This comes at a time when the Indian banking sector has been grappling with its own challenges, making borrowing much more difficult for developers. 
 
 “Solar power is market-driven. The DISCOMs and banks will play a major role in its success in India. Developers are suffering from significant debts. The challenge here is to get connected to the grid. If DISCOMs don’t buy power, it’ll be a problem”, Shailendra Roy, Director &amp; Sr. Executive Vice President (Power, Heavy Engg. &amp; Defence) at <a href="http://www.businessinsider.in/searchresult.cms?query=L%26T+India&amp;sortorder=effectivedate">L&amp;T India</a> told reporters on Tuesday. 
 As things stand now, of the approx $8 billion collected under the Clean Environment Cess till now, only $3 billion is expected to be transferred to the National Clean Energy Fund (NCEF). The <keyword id="386624" type="ORGANIZATION" weightage="60" keywordseo="Ministry-of-New-and-Renewable-Energy">Ministry of New and Renewable Energy</keyword> (MNRE) is likely to be allocated only 23% of the total amount collected so far under the Clean Environment Cess. 
 
Image credit: Indiatimes

If DISCOMs don’t buy solar power, it’ll be a problem: L&T
Director SN Roy

Leading <keyword id="6732896" type="General" weightage="100" keywordseo="renew" source="Orion">renew</keyword>able energy company ReNew Energy Global has posted a net loss of Rs 986 million for the quarter ended September 2022 (Q2 FY23), against Rs 6,614 million loss in the year-ago period (Q2 FY22). The company said it managed to narrow its loss due to higher revenues. The company's total income (or total revenue) for Q2 FY23 was Rs 22,409 million, an increase of 5.1 per cent over Q2 FY22. The company in a statement said its adjusted operating profit or earnings before interest, taxes, depreciation, and amortisation (Ebitda) for Q2 FY23 was Rs 18,209 million, an increase of 0.1 per cent over Q2 FY22. Cash Flow to equity for the quarter under review was Rs 7,125 million, an increase of 4.7 per cent over Q2 FY22. Days Sales Outstanding ended Q2 FY23 at 231 days, which is a 41-day improvement year-on-year and the company increased its cash by Rs 4,881 million through a reduction in accounts receivables during the quarter. The Gurgaon-headquartered company said $ 300 million in green bonds were redeemed during Q2 FY23. As of September 30, 2022, 50 per cent of total outstanding debt is local currency borrowing. A green bond is a type of debt security created for funding or re-funding projects contributing positively to the climate and/or ecosystem. As of September 30, 2022, the Company's portfolio consisted of 13.4 GWs, a 30.8 per cent increase year on year. Approximately 1 GW of purchase power agreements was signed in the quarter, the renewable energy company said. <keyword id="161716" type="General" weightage="50" keywordseo="sumant-sinha" source="Orion">Sumant Sinha</keyword>, Chairman and CEO, ReNew, said "ReNew continues to lead the energy transition in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> and during the quarter, we signed 1 GW of purchase power agreements as a preferred partner for carbon-mitigation solutions. We have furthered our investments in capacity and our technology and analytics capabilities through acquiring shares of 3E, a leading SaaS solutions company in renewable energy and a new partnership with <keyword id="5283165" type="General" weightage="50" keywordseo="norfund" source="Orion">Norfund</keyword> and KLP," and added that the core operations of the company continue to execute as expected this year and our continued access to affordable capital is enabling the company to capitalise on significant growth opportunities. ReNew also said it entered into a partnership with Norfund, the Norwegian government's investment fund for developing countries, and KLP, Norway's largest pension company, to co-invest in ReNew's transmission projects. ReNew signed definitive documents to acquire shares in 3E, a software as a service (SaaS) solutions company offering asset performance management and analytics for renewable energy assets. <keyword id="944686" type="General" weightage="50" keywordseo="renew-power" source="Orion">ReNew Power</keyword> is one of India's leading renewable energy companies. Based in Gurugram, Haryana, it has an asset base of over 10 GW, with around 5 GW operational. ReNew Power operates over 110 projects across 18 states in India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/pakistans-default-risk-soars-amid-political-turmoil-says-a-dawn-news-report/articleshow/95574205.cms">Pakistan's default risk soars amid political turmoil says a Dawn news report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/union-bank-tata-power-renewable-join-hands-to-help-msmes-switch-to-solar/articleshow/95575042.cms">Union Bank, Tata Power Renewable join hands to help MSMEs switch to solar</a>

ReNew Energy's Q2 loss narrows to ₹986 million

“Our nation doesn’t have the luxury of time; our people cannot wait any longer. We have to deliver extraordinary results; we have to meet the aspirations of the people of India fast….” – These words came from <keyword id="6355222" type="PERSON" weightage="20" keywordseo="Piyush-Goyal">Piyush Goyal</keyword>, the Minister of State (IC) for Power, Coal and New &amp; <keyword id="34553" type="ORGANIZATION" weightage="20" keywordseo="renewable-energy">Renewable Energy</keyword>, while he was launching Energyinfrapost.com, an energy &amp; infrastructure sector web portal at a media event recently. 
 
The power minister said he aspires to take power to every home. 
 
“We have to ensure that a child in rural remote village gets not only 24 hour power, but power that his family can afford in these trying times, which encourages and prepares him to compete with the rest of the world,"he said adding that in some sense, energy gives everyone the power to get digitally connected to the world and to enjoy fruits of new technologies. 
 
Goyal also spoke on the feasibility of achieving ‘One Nation One Grid One Price’. He said that to realize this, there are three key elements - UDAY enabling Discoms to increase volume of power purchase, planning sufficient Renewable Energy generating capacity in all regions and reducing coal imports by increasing coal production in the country. “To strengthen the interstate transmission lines, the government has initiated an ambitious programme,” he added. 
 
Talking about the present day journalism scenario, he said “I genuinely believe days and time calls for new breed of journalism and excellence in journalism which certainly is very hard hitting to stop wrong from happen but which also encourages to work.”

"Our nation doesn't have luxury of time, we have to take power to each and every house: Piyush Goyal

<keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword>, the online marketplace headquartered in New Delhi, has decided against renewing the contract of actor <keyword id="6355923" type="PERSON" weightage="100" keywordseo="Aamir-Khan">Aamir Khan</keyword>, who was signed as the brand ambassador. Khan’s one-year contract with the e-commerce giant is coming to an end later this month. 
 
"It was extendable by a year but the company decided against it," one of the persons aware of the matter told ET. Sources also hint that Khan might not even be replaced by another celebrity because the company is looking forward to rationalise ad expenditure and focus instead on repeat customers and enhancing shopping categories. It also aims to try and encourage its buyers to shop through its FreeCharge wallet. 
 
The move has come after Khan was in controversy regarding <a href="http://www.businessinsider.in/Aamir-Khan-says-India-is-unlivable-increasingly-intolerant-His-wife-suggested-moving-out-of-India/articleshow/49904391.cms">some comments</a> he made about the growing intolerance in the country. These comments had led to a storm of protest against the popular actor. 
 
The controversy had made <a href="http://www.businessinsider.in/Aamir-Khans-intolerance-remark-Flipkarts-Sachin-Bansal-comes-to-Snapdeals-rescue/articleshow/49926701.cms">Snapdeal stop using Khan</a> in its TVCs and other advertising media, as compared to the abundance of ads he did before the controversy, featuring in the '<keyword id="3153272" type="UNKNOWN" weightage="100" keywordseo="Dil-ki-Deal">Dil Ki Deal</keyword>' campaign. 
 
Some protestors who were angry with the actor’s remarks had also uninstalled Snapdeal's app, which could have led the company to distance itself from him. 
 
The intolerance remarks made by Khan have cost him not one but two campaigns, as last month, he was also replaced by <a href="http://www.businessinsider.in/Its-official-Amitabh-Bachchan-and-Priyanka-Chopra-are-the-new-faces-of-the-Incredible-India-campaign/articleshow/50667383.cms">Amitabh Bachchan and Priyanka Chopra</a> as the brand ambassador of the Incredible India campaign. He was associated with the campaign since 2009. 
 Talking of the controversy, the actor had said that his wife <keyword id="6371156" type="PERSON" weightage="100" keywordseo="kiran-rao">Kiran Rao</keyword> was feeling insecure about the growing intolerance in the country and had suggested moving out for the safety of their son Azad Rao Khan. The actor however had added that he thought that it was <a href="http://www.businessinsider.in/Aamir-Khan-isnt-alone-in-this-because-not-everyone-in-Bollywood-is-an-Anupam-Kher/articleshow/49933915.cms">a huge thing to say</a> on her part. 
 
<a href="http://www.readoo.in/wp-content/uploads/2015/11/Snapdeal_Krishab786.jpg">Image source</a>

Aamir Khan's contract with Snapdeal ends this month, renewal not in sight

Japanese telecom and Internet giant <keyword id="163404" type="COMPANY" weightage="100" keywordseo="Softbank">SoftBank</keyword> has already made a number of investments in different start-ups in India, and has now said that its investments in the country will top $10 billion in 5-10 years. 
 SoftBank is said to have planned its first $350 million investment in a solar project in India, said <keyword id="357983" type="PERSON" weightage="100" keywordseo="Masayoshi-Son">Masayoshi Son</keyword>, CEO. 
 
"We have already invested $2 billion and we are interested in investing more," he said. "India has a great future. We are interested in investing in Internet companies and also in solar energy. We would make strong commitments." 
 
Son added that they are looking at further increasing the pace of investments. 
 
"We also made a first move on solar energy. We are making $350 million investment in first project in solar (in India). We will expand. In next 5-10 years, we will definitely make probably around $10 billion of investments," he added. 
 
It was in June 2015 that SoftBank had announced a JV worth about $20 billion with Bharti Enterprises and Taiwan's Foxconn Technology Group, under which 20 gigawatts of renewable energy would be generated. Son has now said that the target depends on power purchase agreements being signed with offtaker states, while adding that "we will support it". 
 
The list of Indian companies that have SoftBank's investments include the online-retailing marketplace Snapdeal, taxi-hailing app Ola Cabs, an Indian mobile-advertising network InMobi, real estate website Housing.com, hotel-booking app Oyo Rooms, and on-demand delivery service Grofers. 
 
He was asked about his expectations from the Indian government on renewable energy push, Son said, "On making investment, there is international stand on the rules. For example, if we make investment, then we want payment... there are international rules and standards and as long as India provides (that), we don't need any advantage. As long as there is parity with international standards that is enough," he said. 
 
<a href="http://blogs-images.forbes.com/liyanchen/files/2015/05/masayoshi-son-e1430929769227.jpg">Image source</a>

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