Innholdsfortegnelse for 13 October 2024 i Business Today

FROM RAPID DELIVERIES to unbeatable car deals, online shopping platforms and the auto industry are capitalising on the shopping frenzy ahead of the festive season. Quick commerce platforms Zepto and Blinkit are experiencing record-breaking sales, and automakers like Maruti Suzuki and Tata Motors are offering customers heavy discounts. During Raksha Bandhan in August, Blinkit, Zepto, and Swiggy Instamart have reported record-breaking sales, driven by the growing inclination for fast deliveries and heavy discounts. Now, Zepto, Blinkit, and bigbasket also promise to deliver to the customer the latest iPhone 16 within minutes of placing the order. The festive frenzy in quick commerce began during Raksha Bandhan, when Zepto sold four times the rakhis it sold last year. Blinkit took orders from abroad this year and in India, it sold a staggering…

 IT’S BEEN MORE than a month since the Reserve Bank of India’s (RBI) new regulations on peer-to-peer (P2P) lending took effect, but the industry is still struggling to adjust. Several platforms have experienced a sharp decline in their business, with some even seeing volumes drop by 90%. “Since the new regulations came into force, our volumes have dropped by 90%. We’ve resumed accepting new investments, but a new product we’ve introduced is not drawing lenders,” says Bhuvan Rustagi, Co-founder and COO of LendBox, a major P2P lending platform. The P2P lending model allows individuals to provide loans to others through RBI-regulated NBFC (non-banking financial company) platforms that connect lenders with borrowers. These platforms serve as intermediaries, facilitating transactions and overseeing repayments. Due to falling volumes, some P2P platforms are even…

THERE IS A WIDE grin on Varun Nagaraj’s face. “I complete three years as the dean,” he says. Helming SPJIMR is no easy task and Nagaraj brings to the table experience not only from the world of academia but from the professional world of Silicon Valley. It was especially relevant for India, which has a different terrain for everything and education is no exception. Housed in a compact campus in Andheri, a suburb in western Mumbai, the institute is a beehive of activity as the summer placement process for the new batch gets underway. The students came aboard just three months ago but this is a big deal as it sets the base for making many career decisions. For many years, the institute was known for its autumn placement or…

A YEAR AFTER Ritwik Sen (name changed) joined a multinational telecom services company in a management role, he was asked by the company to enrol in a sponsored six-month management course on leadership offered through an edtech firm. Sen, who has an MCA degree and 12 years of work experience, was told that this would help him get promoted. Sen, who is undergoing the course at present, says the curriculum is designed with video lectures and assignments and covers topics like communication skills, leadership skills, problem solving, agility, etc. Sen’s experience bears testament to the now established trend of continuous learning for working professionals as companies look to upskill existing employees to keep pace with the ever-changing requirements of the dynamic workplace. Of course, individuals too are joining MBA courses…

THE 12TH EDITION of the BT-MDRA India’s Best B-schools Survey 2024—and the 25th overall—retains the same fundamentals that it started with in 2013. But since then, there have been significant improvements in the number of data points. The outcome of the survey provides the most credible and exhaustive rankings of India’s Best B-schools based on most recent data. With the changing needs of the times, new rankings have been introduced over the years, such as Top One-year Executive MBAs; Top Edtech platforms providing management courses, and Top Executive Programmes by leading B-schools. This is the country’s most scientific and methodical ranking of the best business education programmes based on the most comprehensive set of data, and the lists have been jointly prepared by Business Today and market research firm Marketing…

MONDAY MORNINGS ARE typically dreaded by many, but 48-year-old Sindhu Gangadharan, MD, SAP Labs India; Head, Customer Innovation Services, SAP; and Chairperson, Nasscom, defies this norm with flair. She looks forward to her Monday meetings with an array of homemade delicacies, often baked by her for the team to enjoy. An expert baker today, Gangadharan first started baking when she was working at the SAP headquarters in Wall-dorf, Germany, where she spent 18 years of her life. She was surrounded by friends who used to bake Sonntagsfrühstück, or ‘Sunday breakfast’, which typically involves a leisurely breakfast, often featuring a variety of fresh bread rolls. Intrigued by the German tradition of baking, she learned this new skill on her own, much like how she learnt the German language by watching movies. “Although I…

A TRACTOR TILLING A FIELD IN MAHARASHTRA SOURCE CMIE ECONOMIC OUTLOOK 576,638 UNITS Total production of tractors till July 2024, compared to 605,689 units a year ago—a drop of 4.8% 7.5 PER CENT YoY fall in tractor sales to 543,548 units in 2024 till July as kharif crop income declined 4.3% in 2023-24 due to El Niño 59,524 UNITS Number of tractors exported in 2024 till July compared to 57,527 units in the corresponding period in 2023…

 THE UNION CABINET’S recent decision to extend health coverage under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) to all senior citizens aged 70 and above is set to benefit over 60 million people across India. But experts say that the government must address concerns around re imbursements to ensure that the scheme is a success. The AB PM-JAY currently covers 550 million individuals from 123.4 million families across 33 states and Union Territories and has facilitated 73.7 million hospital admissions, with women comprising 49% of beneficiaries. The scheme has helped cover healthcare costs amounting to more than ₹1 lakh crore. Beneficiaries of the scheme will receive a separate card, and those already enrolled will receive an additional top-up cover of ₹5 lakh per year for their exclusive…

 IN A MAJOR boost to India’s semiconductor mission, the Adani Group, led by Chairman Gautam Adani, has joined forces with Israel’s Tower Semiconductor to set up a semiconductor manufacturing facility in Maharashtra with an investment of ₹83,947 crore. Once approved by the India Semiconductor Mission (ISM) and the Ministry of Electronics and Information Technology, it will become the second such manufacturing facility in the country after Tata’s. All other projects in the sector approved so far are associated with assembly and packaging. Tower Semiconductor specialises in analogue and mixed-signal semiconductor products and chips on a global scale. “The partnership (with Adani) looks good, and they will be focussing more on analogue mixing of chips, which is also a positive sign. Tower already has experience in India, as it provided technology…

When Shivraj Singh Chouhan was the Chief Minister of Madhya Pradesh, the state had an agricultural growth rate of 6.5% per annum, while the national rate of growth was just 3.7%. The agricultural revolution in Madhya Pradesh caught everyone’s attention. The biggest question now is whether 65-year-old Chouhan, as the Union Minister of Agriculture and Farmers’ Welfare, can implement it across India. Chouhan, who also holds the portfolio of Rural Development, discusses his vision and the challenges in an interaction with Rahul Kanwal, News Director of India Today and Aaj Tak and Executive Director of Business Today, and BTTV Managing Editor Siddharth Zarabi, at the BT India@100 summit. Edited excerpts: RK: One of the biggest promises made by the Prime Minister Narendra Modi-led government in 2016 was to double farmers’…

THE RECENT GEOPOLITICAL events—from the Covid-19 pandemic to the Russia-Ukraine war and the tensions in the Middle East—have created unprecedented volatility in the world of business. As the global economy adapts to the new realities, corporates are busy scribbling their future plans and introducing rapid changes. A relook at business and operational strategies by large companies has had a ripple effect on the way management professionals are trained by the B-schools. Professor Sumanta Basu, the Dean of the Indian Institute of Management Calcutta, concurs. Basu, who teaches operations management—a course that aims to improve operational efficiency scientifically—says the impact is evident. “Our students are finally going to join corporates. So, as they are impacted [due to the ongoing tensions], their demands [from us] are also different. Accordingly, we should react…

PERCHED ATOP THE picturesque hillsof Kunnamangalam in Kerala, the Indian Institute of Management Kozhikode (IIMK) has established itself as a trailblazer in Indian business education. It has distinguished itself by embracing innovation, sustainability, and a holistic approach to management education. The institute’s progressive ethos revolve around three core values—Satyam (truth), Nityam (sustainability), and Purnam (wholeness)—that guide its curriculum and vision for globalising Indian thought. IIMK has never shied away from challenging traditional norms. “This year we got rid of the word ‘placement’,” says Professor Debashis Chatterjee (60), Director, IIMK. “We are not in the business of running an employment exchange,” he says. In April 2024, the institute set up the Office of CARE (Corporate Access, Readiness and Engagement), which replaced the students’ placement committee, in a move to better prepare students…

WHAT IS THE secret sauce of success? Some successful start-up founders say it is having the requisite skills to tackle any situation, which they picked up at the country’s top B-schools. Such skills are in high demand now. Start-ups are on the lookout for employees who embody an entrepreneurial mindset—those who can wear multiple hats and adapt swiftly to shifting market demands. It is no wonder then that this combination of ability with agility has made the top B-schools a critical talent pool for new-age ventures. Start-ups thrive on innovation, risk-taking, and collaboration—fundamental qualities cultivated at premier B-schools, say experts. “B-school graduates often come with a fresh and innovative mindset, driven by their recent exposure to the latest business concepts, frameworks, and strategies”, says Naveen Kumar Nerlaje, Head of People…

DHRUV AGGARWAL’S PLANS of pursuing his dream of an MBA did not include Goa. But when he started his research to zero in on a B-school after the Common Admission Test, a management school located in a little known corner of the tiniest state—thousands of kilometres away from his home in Delhi—seemed the most obvious choice. He is not alone. There are hundreds of such prospective business leaders from farflung parts of India who have congregated at the Goa Institute of Management (GIM) in pursuit of a dynamic corporate career. A world away from the fun and frolic associated with the state, the B-school is today not just a confluence of students and culture but also a showcase of the diversity within the country’s party capital. It had very humble…

Ranking is based on objective data only. Only those B-schools that submitted their objective data have been ranked. Institutes like IIM Ahmedabad, IIM Bangalore, ISB Hyderabad, etc., that did not submit their objective data on time or declined to participate have not been ranked. Only those colleges that fulfilled the following criteria were considered eligible for participation in the ranking: i. Minimum three batches passed out. ii. Offering while adding the parameter-wise score. DNP = Did Not Participate full-time Post Graduate Programme in Management. All scores have been rounded off to one decimal place; this may result in rounding off errors…

What was the problem you were grappling with? When I started working, I was juggling a career and a family at the same time. I had a typical superwoman syndrome, where I aspired to be perfect in every role and wanted to hold myself to the highest standards. I was usually the only woman in the room, and I was often worried about perceptions and being accepted. Back then, we had limited diversity and very few role models to help us out. Whom did you approach for advice, and why? I had a diverse group of mentors, within and outside the industry, who understood my own aspirations and capabilities and helped put things in the right perspective.  What was the advice you received? One of the best pieces of advice…

THE FINANCE MINISTRY’S recent tweaks to the guidelines governing National Small Savings Schemes accounts opened through post offices are set to kick in from October 1. They allow for the regularisation of irregular accounts—those that were opened through post offices in contravention of rules. So, it’s important for investors to understand and take necessary action. One significant change pertains to irregular Public Provident Fund (PPF) accounts opened for minors. For instance, if both parents opened PPF accounts in the name of their minor child, it would be considered irregular. Earlier, such accounts earned interest at the Post Office Savings Account (POSA) rate. Under the new guidelines, these accounts will earn POSA interest until the minor turns 18. Then, the account will be eligible for the regular PPF interest rate. Saraswathi…

“A RIPPLE STARTS small, but its impact can be vast,” goes an old saying. This resonates profoundly with the work of 40-year-old IIM Lucknow (IIML), that has taken up the cause of nation-building. Through initiatives spanning advisory, training, outreach, and research, IIML is not just shaping policy, but also fostering innovation and empowerment. That is besides its primary task of churning out tomorrow’s managers. Professor Archana Shukla, Director of IIML, says the institute’s Enterprise Incubation Centre (EIC) hosts more than 110-plus start-ups, with a collective valuation of more than ₹ 2,000-plus crore, “demonstrating its significant contribution to the start-up ecosystem and economic development of the nation to create Atmanirbhar Bharat”. From strengthening planning departments to empowering MSMEs and promoting well-being, IIML’s impact is far-reaching. The institution’s commitment to measuring this…

WHAT CAN A management institute do about missing children? A lot, it turns out. The Indian Institute of Management Indore has applied itself to finding solutions to this problem in the city where it resides. Indore, widely celebrated as the cleanest city in India, has a significant number of missing children. In fact, the state of Madhya Pradesh recorded the second highest number of missing children in 2022, according to the National Crime Records Bureau. “Alarmingly, 85% of these missing children are girls,” says Himanshu Rai, Director of IIM Indore. So when local police approached IIM Indore, it decided to collaborate closely with them to address this issue. It conducted a comprehensive study to understand the reasons for the high number of missing children in the city. What it found…

THE MOOD IS visibly joyful. It is Teacher’s Day, and there is buzz of a big-ticket investment to enhance the picturesque campus. Students in formal attire go about their business on campus with a spring in their step. The National Institute for Training in Industrial Engineering (NITIE) is a name familiar to a lot of people, even more so for those who live in Mumbai. But there was a massive change here last year. In August 2023, the move to rename the institute to IIM Mumbai got the assent of the President of India. With that one stroke of the pen, it became the 21st Indian Institute of Management, joining the elite list. More importantly, it was the first that did not begin its journey as an IIM. That in…

The ROI of MBA colleges has declined in 2024 as average salary packages have decreased while course fees have increased THE 12TH EDITION of the BT-MDRA annual ranking of business schools notably lacks a few top B-schools. The reason was surprising—a pessimistic scenario stemming from poor placements that could impact their credibility. Overall, the year has been topsy-turvy for B-schools. First, some news to cheer about: • More aspirants for Indian MBAs: In 2023, more than 330,000 candidates registered for the Common Admission Test (CAT), a 30% increase from the previous year, and a record. On the contrary, applications for B-school programmes across the world declined 8.3% during the past two years, per the Graduate Management Admission Council, a global association of B-schools. This demonstrates increased confidence in MBAs from…

Ranking is based on objective data only. Only those B-schools that submitted their objective data have been ranked. Institutes like IIM Ahmedabad, IIM Bangalore, ISB Hyderabad, etc., that did not submit their objective data on time or declined to participate have not been ranked. Only those colleges that fulfilled the following criteria were considered eligible for participation in the ranking: i. Minimum three batches passed out. ii. Offering full-time Post Graduate Programme in Management. All scores have been rounded off to one decimal place; this may result in rounding off errors while adding the parameter-wise score…

Will she? Will she not?… I pluck the petals of an imaginary flower as I walk down Pennsylvania Avenue in Washington, DC, and make my way towards the most famous residential address in the world—the White House—the official residence of the President of the US. Kamala Harris, often referred to as the ‘childless cat lady’ and the Democratic presidential candidate, is on my mind. Will she be the next US President? The world is holding its breath. It’s election season in the US, and nowhere is it felt more acutely than in the country’s capital city of Washington, DC. “Fight! Fight! Fight!” screams a T-shirt with a picture of Republican candidate Donald Trump, hanging at a souvenir cart, alongside one promoting Kamala Harris for President. The cart is owned by…