Tag: Coronavirus

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Technology

Xiaomi Leads India’s Smartphone Market With 26% Share for January-March Quarter in 2021: Report

Xiaomi (Photo Credits: Facabook)

Xiaomi managed to lead the Indian smartphone market with a 26 percent market share in Quarter one 2021, as total shipments increased 23 percent (on-year) to reach over 38 million units in Q1 2021, according to data released by Counterpoint’s Market Monitor service. However, the second quarter is likely to be affected due to the lethal second coronavirus wave.

Xiaomi was followed by Samsung with 20 percent in the second position, while Vivo was third with a 16 percent share, the report said. The fourth position was held by realme with 11 percent share.

“Continuing with its stellar run, India’s smartphone market registered a third consecutive quarter of record shipments in Q1 2021, riding on pent-up demand. Consumer confidence also increased due to the beginning of a vaccination drive in the country,” said Senior Research Analyst Prachir Singh.

“But these numbers should be taken with caution as a second and more virulent wave of COVID-19 is currently on in the country and is likely to impact the coming quarters,” he cautioned.

Meanwhile, India’s mobile market grew 19 percent year-on-year in the January-March period due to the sturdy performance of both smartphone and feature phone segments.

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MSME

MSME Sector will Battle Ongoing COVID-19 Wave with Conviction & Lead India to Positive Growth Trajectory, Says Union Minister Nitin Gadkari

Nitin Gadkari (Photo Credits: Facebook)

Union MSME Minister Nitin Gadkari has said that he is confident that the firms in the micro, small and medium sector will fight the second wave of coronavirus pandemic with conviction, leading the country to a positive growth trajectory. Gadkari also added that the MSME sector battled the first wave of COVID-19 outbreak with great resilience and came out with strong growth projections.” MSMEs in India: Govt Aims To Raise MSME Sector’s Share in GDP to 40% From the Current 30% To Benefit Rural Poor, Says Nitin Gadkari.

Union MSME Minister said, “As a country, we battled the first wave of COVID-19 with great resilience and came out with strong growth projections. And I’m confident in the ability of the industry and MSME sector to battle the ongoing wave with similar conviction and lead India to a positive growth trajectory.” MSME Sector in India Has Huge Potential To Become World’s Largest Manufacturing Hub, Says Nitin Gadkari.

While addressing an event organised by the Amazon India, Nitin Gadkari said that the Indian MSMEs have a great opportunity of getting integrated with the global supply chain as various countries across the globe are looking to diversify their supply chain out of China.

He added that to enhance the competitiveness of the Indian MSMEs, both on national and global level, technology is a critical factor. “We need to ensure that digital transformation of India’s MSME sector takes place that enables them to capitalise on India’s current opportunity,” said Union MSME Minister Nitin Gadkari.

In May last year, amid the coronavirus pandemic, the government had introduced an Emergency Credit Line Guarantee Scheme, to help the struggling MSMEs back on their feet. This scheme was a part of the Rs 20 lakh crore package that was brought forward and executed by our finance minister Nirmala Sitharaman to repair the damage that has been done to this sector in the light of COVID-19.

Nitin Gadkari had earlier said that contribution of the Micro, Small and Medium Enterprise sector in the overall Indian economy, the coming years, will be enhanced to 40 per cent. Currently the firms in the Micro, Small and Medium sector contributes around 30 per cent in the overall gross domestic product in the country. Nitin Gadkari added that the works to increase export from the firms in MSME sector are in progress.

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Business motivation

Economic Impact of COVID-19 Second Wave Minimal So Far: Crisil Research

Marketing Strategies| Representational Image (Photo Credits: Pixabay)
Marketing Strategies| Representational Image (Photo Credits: Pixabay)

According to Crisil Research, the economic impact of the second wave of novel coronavirus has remained minimal so far in India with less stringent restrictions. “Few countries have escaped a second wave of the Covid-19 pandemic and it is India’s turn now, with daily cases crossing the previous peak of September 2020. And this wave is spreading faster than the first, though with a lower fatality ratio,” Crisil said in a statement.

“Initially concentrated in Maharashtra, new cases are slowly dispersing to other states, which have seen some dip in mobility towards end-March. So far, though, the economic impact remains minimal, with localised restrictions. Maharashtra, the worst impacted state, has introduced somewhat stringent restrictions that will temper mobility and contact-based services,” it added.

The statement added that mobility at the all-India level has remained nearly unaffected ever since a boom in cases since mid-February. However, mobility in Maharashtra is beginning to weaken.

From March 29 to April 4, the covid cases surged from 68,000 to over 1 lakh. Of the total cases during the same period, Maharashtra accounted for 55 percent of new covid-19 cases. Even though Gujarat, Chhattisgarh, Madhya Pradesh and Punjab accounted for fewer share, these states witnessed the highest growth rate in new news cases after Maharashtra.

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HR & People Management

After Infosys and Reliance, OYO Hotels & Homes To Cover Cost of COVID-19 Vaccine of Its Employees, Families in India

OYO (Photo Credits: Wikimedia Commons)

OYO Hotels & Homes will cover the cost of novel coronavirus vaccines of all its employees in India and their family members, the hospitality major announced on Thursday. In a statement, the company said that its employees and their families can get the vaccination at any vaccination centre convenient to them. The company would compensate in full, it added. COVID-19 Impact: 5 Tips to Help Your Businesses Recover from Coronavirus Pandemic.

“As part of our commitment to keep our employees and their families safe and show our gratitude to them, we are happy to facilitate the cost of their Covid-19 vaccinations. We encourage employees to take the vaccine after reading up about its benefits and making an informed decision,” Dinesh Ramamurthi, Chief Human Resources Officer (CHRO), OYO Hotels & Homes said.

“We have always believed in providing equal opportunities to everyone irrespective of their age and gender and our new gender-neutral parental policy is a testament to us levelling the playing field both at home and at work,” he added. Business Confidence in India Improves As Economic Activities and COVID-19 Vaccination Drive Gathers Pace: NCAER Survey.

Earlier, companies such as Infosys, Tata Consultancy Services (TCS), Reliance Industries (RIL) and Accenture have also said that they will cover the vaccination costs for their employees.

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Finance

Union Budget 2021 Expectations: What India’s Aviation Sector is Expecting?

Aviation Sector (Photo Credits: Pexels)

The novel coronavirus pandemic has majorly affected the aviation sector. The industry incurred severe losses after thousands of flights daily came to a standstill in March 2020. To cope with this, the sector is hoping for support from Finance Minister Nirmala Sitharaman in the 2021 Budget on February 1.

From lowering air turbine fuel taxes (ATF) to reducing airport, landing, parking and navigation charges- the industry is expecting help from the government. The ATF comprises around 30-40 per cent of the total cost of an airline.

The sector is also expecting the government to remove a cap on fare prices. A fare cap price band was introduced in order to avoid exploitation by airlines. However, the sector now believes that the government should remove the price band and airlines should be allowed to set ticket prices.

“Since the airlines have to currently follow a fare band as per the directives of the Ministry of Civil Aviation (MoCA), which is constraining their ability to charge higher fares, they want relaxations in terms of the fares they can charge,” said Kinjal Shah, vice president, ICRA.

Recently, the government also hintend at rationalisation of various taxes in the aviation sector. “We are working on a long-term plan to help the sector by rationalizing various taxes,” said Usha Padhee, Joint Secretary, Ministry of Civil Aviation. As of now, the government has allowed airlines to run on 80 per cent capacity, after starting out with 33 per cent in May 2020.

 

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Startup

Bakery Business in India: 4 Innovation Tips Which Bakery Business Can Use to See Success Amid COVID-19 Pandemic

Bakery
Bakery (Photo Credits: Twitter)

Mumbai, December 3: The coronavirus pandemic has affected all businesses across the world. However, this was also the time when we saw a rising demand for healthy and delicious bakery items as people remained confined to their homes.

There has also been a spurt in bakery businesses which people started from home. We have listed four innovation tips which bakery business can use to see success amid the coronavirus pandemic. Restaurant Business: Here Are 4 Tips to Run a Restaurant Business Successfully Amid COVID-19 Pandemic.

Add More Healthy Ingredients to your menu: Consumers have realised that since the majority of the time they are now working from home, they need to give attention to their health. There has been an increase in demand for healthy and functional bakery items like products which consist of multi-grains, nuts and other healthy products.

Market your business on all social media platforms: In today’s age and day, consumers will come to your brand mostly via social media. Therefore, it is very important that you have enough presence on all these channels. Put beautiful pictures of what you bake, entice the audience with them.

Increase engagement with your audience: You need to remember one thing that now due to the coronavirus pandemic, physical contact has become very less, therefore virtual contact needs to be increased.  Stay in touch with your customers and interact with them to create a good brand recall.

Pay attention to hygiene and packing: Hygiene is one of the most essential things when it comes to food and it has become all the more necessary amid the coronavirus pandemic. Don’t compromise on the quality of the ingredients being used. The packing also needs to be professional.

 

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Finance

Gold And Jewellery Industry Hopes to See Demand Recovery in H2FY21: ICRA Report

Gold
Gold (Photo Credits: Pixabay)

Mumbai, November 27: The gold and the jewellery industry expects a demand recovery in H2FY21. According to a report published by ICRA, the industry believes that demand will improve on the back of occasions like festivals and weddings. The gold jewellery retail industry had witnessed a sharp 64 per cent contraction in H1FY21.

A positive trend highlighted in the survey was that the opening of the stores post the coronavirus pandemic induced lockdown has seen a steady improvement in footfall although these were still much lower than last year.

The report further mentioned, “Further, factors like rising preference towards gold as an asset class, favourable rural output amidst good monsoons, expectations regarding the further rise in gold prices etc are likely to support demand in the next few months.”

The industry is grappling with a decade-low level of demand during FY2020, battling multiple headwinds like weakened consumer sentiments amid a sharp rise in gold prices, subdued rural output, and fall in consumer surplus.

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Business motivation Startup

4 Things to Remember If You Are Planning to Start Your Own Business Amid COVID-19 Pandemic

Business growth
Business growth (Photo credits: Needpix.com)

Mumbai, November 20: Starting a business is a paramount task, it is not just an idea that needs to click, but several other things should fall in place. You have been longing to start your own company since long, but the COVID-19 outbreak came as a roadblock. No doubt, starting your own business in the middle of the pandemic is extremely difficult, but it is surely not an impossible task.

We have listed a few important things which you should remember if you are planning to take a leap amid the pandemic.

  1. Study the Market: It is very important to study the market in order to find if there is a demand for your product. There are certain things which need to be considered, for e.g, if you are planning to launch a hi-end product, then keep the current market situation in mind, where there have been job losses, businesses being shut among others. So, if you feel there is no demand, then you can delay the plan for some more time.
  2. Have a strong online presence: Given the current scenario and more months to come, people will feel comfortable to shop online, rather than going out to a physical store and purchasing. The coronavirus outbreak has also changed the dynamics of business. So even if you are planning a store, make sure you are marketing well on social media channels and you have a good responsive website.
  3. Check your finances: In the current market situation, people are not splurging as they are hesitant to spend money. So expect longer than usual time for your business to kick start. Spend wisely and keep a tight budget in the initial few months.
  4. Hire a good team: Don’t go overboard and hire too many people. Recruit the strength which you require. There will always be time to expand.

    We spoke about the challenges, but there are certain positives also on your way. For e.g, if you are planning to rent a shop or an office space, it will be a great time because the property rates have slashed. Also, since people are spending more time at home and with their family, it will also be easier to target them.

    Being an entrepreneur is the most satisfying job, as you can take your own decisions. So if all things are in place and you are confident of starting your own business, go ahead, and take the plunge.

Categories
Startup

Microsoft Launches New Programme to Help Health Tech Startups in India, Recover From COVID-19 Pandemic Blow

Microsoft
Microsoft (Photo Credits: Twitter)

Bangalore, November 18: Microsoft launched a dedicated programme to give a boost to health-tech startups in India amid the coronavirus pandemic. According to an IANS report, for this purpose, Microsoft has collaborated with startup incubator Social Alpha to accelerate the growth of participating startups.

The objective of the programme will be to help entrepreneurs with technical support as well as resources for co-selling and co-building tech tools to achieve better outcomes across healthcare.

The programme will focus on enabling these companies to fast track their progress with some of the best technology resources and accelerate their innovation pathways.

Some of the benefits which the Microsoft programme offers are:

Qualified Seed to Series C startups can boost their business with Azure benefits (including free credits), unlimited technical support and go-to-market resources with support for Azure Marketplace onboarding.

Startups which are looking to create healthcare solutions also have access to Microsoft Cloud for Healthcare.

Categories
Business motivation

5 Steps You Can Take to Get Your Business Off the Ground

Startup Growth
Startup Growth (Photo Credits: Pixabay)

Mumbai, November 17: Starting a business can be a daunting task and more so amid the coronavirus outbreak. There are several things which one needs to take care of, from the right idea to proper marketing, everything needs to fall in place for a business to take off.

The process of starting a business is always filled with challenges. Therefore, it is very important that you should be prepared before you take the final leap. The success of a business is never guaranteed, but there are few changes which you can do to reduce the risks and improve the chances of your business in being successful.

We have curated a list of 5 steps which you need to take before you get your business off the ground:

1. Think of a unique and a great idea: Think of a unique idea for your business and ask yourself how will my product be different from thousands of products which have already cluttered the market. Try to offer the customers something which they haven’t experienced before. Also, the product should solve the customer’s problem and then only will they be able to relate with your product.

2. Define your business: This is another critical step. Before you start a business, it is very important to understand how much time (and money) you’re willing to devote to your new venture. Also, a few other questions which you need to answer is that will you have a brick and mortar store or only have an online presence.

3. Study the market & competition: Do extensive study before launching a product in the market. Try to understand if there is a demand for your product. Never underestimate your competition. Always learn from their strength and also be aware of their weakness and understand the space where your product will be able to enter.

4. Check your finances: It is very important to track your finances from the get-go. Spend wisely and only on things that are required. Every business takes time to start off. The initial few days to a year might be full of struggles, so save your finances for tough times ahead. Keep an eye on your finances, so that midway, you don’t have to wind up your business and exit the market.

5. Keep Your Plan B Ready: Always keep a plan B ready before you start your business. One can never predict the challenges which can crop up and pose a hurdle in the path of growth. For e.g. no one could predict that coronavirus could get the world to a grinding halt. Several businesses shut due to the lockdown and thousands were left jobless. However, the ones which had a plan B ready could sail through the crisis period.

We hope that these steps will come in handy when you are thinking to get the business off the ground.