The Digital era is expanding rapidly, bringing along with it a huge set of opportunities and its own challenges. Organizations, today, can no longer afford to stick to the Brick and Mortar model of doing business. At the same time, they stand to benefit with the use of digital platforms that provide them newer insights and new ways to reach out to their customers. My appreciation for the opportunities, as well as for the underlying challenges comes from my experience of having spent a considerable portion of my work life in IT sector. My career in the IT sector had started with my joining one of the big IT service provider companies in India, before I moved to a financial services company to join the corporate IT group.
If I ask, “What peeves you most while surfing the net on your cell?”, a big likelihood is that your answer would be, “the speed of net“. Yes, we do crib a lot about the speed of connectivity and why not? India is one of the countries in Asia with the slowest internet connection.
By Somali K Chakrabarti 1st July 2015, marked the launch of the much spoken about Digital India week with much fanfare at the Indira Gandhi Indoor stadium in New Delhi to realize the vision of a Digitally connected India that will transform the lives of 1.2 billion Indian citizens. Attended by who’s who of India’s corporate world and by the top executives of a number of foreign companies, the launch earmarked the start of a program to bring digital revolution to the masses. While the Industry leaders made their brief remarks on how they will contribute to the initiative , the highlight of the program was the PM’s speech, where he successfully sold the story of a digitally connected India and presented the government’s road-map for digitizing India.
By Somali K Chakrabarti India is heading towards an internet economy worth USD 200 billion by 2020, that will contribute 5 per cent of the GDP. – Report by Internet and Mobile Association of India (IAMAI) and The Boston Consulting Group (BCG). Digital India – A Transformational Initiative The Digital India initiative, envisioned by the Govt of India, aims to transform India into digital empowered society and knowledge economy by leveraging IT as a growth engine to enable change. With 850 million mobile users and 243 million internet users in 2014, India is all set to ride the wave of digitization and grow into a strong digital economy. Centered on the 3 Key areas of Improving the digital infrastructure Providing Services on Demand Digital empowerment of citizens Digital India Initiative, has the potential to positively impact the lives of all citizens of India, irrespective of where they come from. A digitally enabled India can bridge the gap between urban and rural areas by virtually connecting far flung areas of the country and empowering citizens to avail services with ease from any place within the country.
By Somali K Chakrabarti India – A Break Out Nation India, a home to 243 million internet users in 2014, is poised to rapidly improve its digital readiness and develop into a strong digital economy. The steep rise in the number of mobile phone users in India will bring into the fold many such users who did not have access to internet before, and with little or no idea of how or why internet is useful for them. Based on the premise that connectivity is the right of all human beings, Facebook has launched the initiative Internet.org to bring down the cost of internet access by extending basic internet access free of cost to mobile smartphone and feature phone users in different developing countries.
By Somali K Chakrabarti You are what you share. – C.W. Leadbeater The above saying has gained relevance, more than ever before, in this age of social media. Breaking the barriers of age, hierarchy, gender, status and geography, social media allows us to express our views, share ideas, bridge distances and connect with like minded people. I have to admit that I have taken to social media like a fish takes to water. Social media has become an integral part of my life, to the extent, that a day without social media now appears to me almost like a day without electricity
By Somali K Chakrabarti Tata Power claims to charge lowest tariff in Mumbai . The above article appeared in The Economic Times, on 27th Jan, 2014. Here is an excerpt: As the demand to reduce power tariff is gaining momentum in Maharashtra, private utility Tata Power today claimed that its tariff is the lowest in the metropolis. The company, which has a residential consumer base of 4.5 lakh in the city, charges a tariff of Rs 2.13 per unit from customers consuming power up to 100 units with a fixed charge of Rs 40 and Rs 3.62 per unit and fixed charge of Rs 75 for up to 300 units, the Tata Power Company (TPC) said in a statement issued here today. It said that while Reliance Infrastructure (RInfra) charges an average Rs 5.68 per unit within 250 units, BEST charges Rs 4.52. Shortly after, Reliance Infrastructure (RInfra) also claimed that their customers can expect power bills to drop by 22% in the suburbs in the next 2 years.
By Somali K Chakrabarti The year 2014, has been an unprecedented year for India in terms of election results. In the last quarter of the year, here are some key facts about India’s economy. 1. India ranks 10th in terms of nominal GDP India’s nominal GDP has been stuck in the USD 1.8 – 1.9 trillion range for the last three years, and is expected to cross the USD 2-trillion mark this fiscal, according to a Nomura report. Nomura expects nominal GDP to reach nearly USD 3 trillion by FY17.
Business has only two functions – Marketing and innovation. This quote by Peter Drucker applies just as much to blogging (both personal and business), as it applies to any other business. The rapid evolution of social media has given a tremendous boost to blogging. With over 197 million blogs on Tumblr and users creating 41 million new posts on WordPress each month, it is apparent that the blogosphere is expanding at an amazing pace. More and more people are taking to blogging and using it as a platform to express their opinion, to create awareness, to provide useful information, or to promote their business. Established businesses are also using blogs to engage with social communities. Needless to say, it takes effort, planning and perseverance to make your blog a repository of good content that people would want to read, among the huge number of blogs that are available on the web. First essential characteristic of a good blog is to publish quality content on a regular basis. It requires creative thinking to continuously come up with new ideas for posts and structure those ideas in a manner that catches and holds the attention of the readers; But…
In 2014, South Africa came to be known as the ‘safe haven’ for investors among the Emerging Markets. A comparison of the BRICS nations with developed nations on parameters of corporate governance, as reported in the World Economic Forum Global Competitiveness Report 2013-14, shows us why. Good corporate governance and ethical practices by companies are considered essential for well functioning capital markets all over the world. Ethical practices, transparency in dealings, better investor protection and efficient boards boost investor confidence and lead to capital inflows in markets. Ethical Behavior of Firms Ethical behavior is assessed by company policies on bribery, kickbacks, protection money, facilitation payments, gifts, fraud, money laundering, and political and charitable contributions. Management systems and procedures outlining frameworks for risk assessment, sanctions, whistle-blowing, continuous internal self-review and external reporting also fall under the purview of ethical behavior. In 2013, South Africa ranked at No37 on ethical behavior, ahead of other BRICS nations, with China at a distant 54th rank. India & Brazil ranked 86th and 87th and Russia ranked the lowest among BRICS nations on this parameter. Strength of Auditing and Reporting Standards Fair practices and transparency in dealings are critical to attracting…