Unscrupulous advertising has become the standard in many industries because of the cutthroat nature of modern competition. Even the most sacred and innocent of all sectors, education, which shapes the nation’s leaders of tomorrow, has begun to wear shades of grey. Students in today’s academically competitive world are always looking for top coaching institutes where they can hone their skills and achieve their academic goals. The competition among educational institutions is fierce, and some resort to dishonest means to attract as many pupils as possible.
Advertisements for these educational institutions often make exaggerated claims about the placement rates they provide, the percentage of students who pass their entry examinations, or the affiliations they have earned. Their advertising budget for television and internet platforms is close to Rs.38,000 crore.
False data regarding placements is alleged in numerous situations. A fraudulent advertisement for Manav Knowledge City, a school in Maharashtra, falsely claimed that its students would achieve the highest academic results and placement rates. The advertiser’s claim that they had the lowest fees was likewise deemed false by the consumer forum.
The so-called “Coaching Centres” are raking in the dough as well. There are thousands of students signing up to study for admission tests. There is currently no mechanism to reimburse students whose payments have already been processed if they are dissatisfied with the service or cannot gain admission.
The Centre Offers Recommendations to Spot Deceptive Ads
On 9 January 2024, the Union Ministry of Consumer Affairs discussed recommendations to address misleading coaching marketing in the face of unethical actions by coaching institutes to attract employment or entrance exam candidates.
A committee led by Consumer Affairs Secretary and CCPA Chief Commissioner Rohit Kumar Singh discussed the issue. Last October, the CCPA, the nation’s top consumer watchdog, filed notifications to 20 IAS coaching institutes for “misleading” ads. According to the Union Ministry of Consumer Affairs, the CCPA’s committee on misleading coaching commercials met for the first time on Monday to review the proposed rules. According to the ministry, officials and stakeholders discussed the draft standards for misleading coaching ads.
Under the Consumer Protection Act 2019, a coaching institute’s advertisement could be misleading if it conceals essential information about the course chosen by successful candidates (free or paid), its duration, etc.
Coaching Market Size Worldwide
FIITJEE, the New Joiner
After publishing a national newspaper ad ridiculing a student who left the coaching facility for another, FIITJEE received huge outrage over the weekend. The student’s academic performance, school, and photo were displayed in the FIITJEE ad. In the wake of many student suicides, coaching institutes have been encouraged by the government to be sensitive to pupils. Social media users called the commercial “shameful” and “disgusting“.
A photo of the ad published by Assistant Commissioner of Income Tax, Government of India officer Katyayani Sanjay Bhatia on X revealed the issue. She tweeted- “A new low in advertisements FIITJEE. You are posting a picture of a child saying she performed badly because she left your institute! I have blurred the picture because I don’t believe in this disgusting way of claiming your superiority by belittling a girl child”, she stated.
The daily’s front page advertisement claimed that the ex-student could have scored 100 NTA in JEE-Mains 2024 instead of 99.99 if she hadn’t left for a “EVIL Institute from Kota with a history of suicides“. JEE was also criticised for calling its competition “evil”.
FIITJEE vs Evil Institute
Effects on Education and Society
Coaching institutes in India have transformed education and society. These institutes claim to help kids succeed academically, but they have lowered school and college quality.
Coaching institutes also cause society’s obsessive fixation with exam outcomes. These institutes’ strong competitiveness has made parents, students, and schools prioritise grades over all else.
Holistic development and critical thinking are neglected in favour of rote memorisation and exam preparation.
Coaching institutes put kids under tremendous pressure. Many students feel overwhelmed by academic requirements. Constant stress can cause anxiety and despair.
Uttar Pradesh with an aim of becoming a $1 trillion economy is currently the fastest growing state-economy in the country. Investors in Uttar Pradesh are bridging credit gaps in the thriving MSME sector. The state will play a big role in making India the third-largest economy in the world.
Uttar Pradesh is leading the growth of the Indian MSME sector with the highest number of MSMEs in India. The largest and most populous state boasts more than 96 lakh MSMEs, making the state one of the fastest-growing state-level economies in the country.
President Draupadi Murmu, in her address at the inauguration of the first UP International Trade Show, stated that over 200 manufacturers from the state were displaying their products to more than 400 buyers from a total of 66 countries. The event provided a platform for local manufacturers and small businesses to showcase their products in the national and international markets.
The President also mentioned that Uttar Pradesh, despite being a landlocked state, has experienced remarkable growth in exports, with the value increasing from around Rs 88,000 crore in 2017-18 to Rs 1,75,000 crore in 2022-23. She attributed this growth to the proactive steps taken by the state government to promote economic growth and attract investments.
“Uttar Pradesh is now among the fastest growing state-level economies in the country due to simplification of the investment process, ease of doing business and acceleration in infrastructure development,” said Murmu.
In the same event, Union Minister Narayan Rane stated that India is expected to become the third largest economy by 2030 and UP is going to play a major role in it. He also emphasized the necessity of enhancing citizens’ per capita income to address migration, underscoring the state’s goal of reaching a $1 trillion economy. He also highlighted the per capita income disparities between the United States and India to underscore the importance of economic growth in improving people’s quality of life. Using the instance of industrialization in his home state of Maharashtra, Rane pointed out that comprehensive research and analysis are vital to determine the suitable industries and their optimal locations within various areas or districts.
Mr. Amit Tyagi, CEO, PayWorld highlighted key sectors that offer the most investment in Uttar Pradesh:
Financial Inclusion: Uttar Pradesh, a populous state with a significant number of underserved population segments, is poised for improved financial inclusion. Fintech companies have a crucial role to play in achieving this by providing innovative and affordable financial products and services tailored to these segments.
Agriculture: As a major agricultural hub in India, Uttar Pradesh offers substantial opportunities for fintech companies to revolutionize the agricultural sector. Fintech solutions, including crop insurance, agricultural financing, and supply chain management, can greatly benefit farmers and other stakeholders.
Small Businesses: Uttar Pradesh is home to a multitude of small businesses, presenting fintech companies with the opportunity to offer a range of services. These services encompass digital payments, accounting software, and access to business loans, supporting the growth and success of these enterprises.
The Uttar Pradesh government is actively promoting digital payments and fintech solutions, leading to an increasing demand for these services. Fintech companies can address this demand by providing solutions for government-to-citizen payments, tax processing, and subsidy distribution.
Nevertheless, Indian MSMEs have faced a significant challenge in the form of limited access to credit within the market. To address this issue, both government agencies and non-governmental funding institutions throughout the country have made concerted efforts to facilitate easier access to capital.
Mr Ameet Venkeshwar, CBO, LoanTap Financial Technologies, said that bridging the credit gap for MSMEs requires a combination of innovative products, customer-centric solutions, and collaboration between various financial institutions and businesses. Other than providing MSMEs loans, he said, “We have our own product called AfterPay Merchant by LoanTap, a dedicated credit solution for MSMEs tailored to accelerate business growth.”
“We partner with large retailers to assist MSMEs, particularly small retail stores, in gaining easy access to funds through a revolving credit line. This support allows them to benefit from extended payment terms, bolstered working capital, and ensures a stable supply. Mostly the small retailers and Kirana stores are often underserved and this allows us to serve them moving more towards our vision of financial inclusion,” Mr Venkeshwar added.
Mr Tyagi of PayWorld emphasized, “Our extensive network of merchant points provides MSMEs access to digital financial services, empowering them with digital payments, bank accounts, and e-wallets. Collaborations with financial institutions enable us to offer tailored micro-loans, addressing capital needs for UP’s MSMEs.”
He stated that they are committed to innovation and the development of digital platforms. He mentioned that tailored products and financial awareness campaigns played a significant role in enhancing their commitment to UP’s economic growth. In a landscape where MSMEs sought credit solutions, Mr. Tyagi believed that PayWorld’s extensive reach and unwavering dedication to digital financial services could be transformative, propelling MSMEs toward prosperity and contributing significantly to the state’s development.
Advice to MSMEs Attracting Investment in Uttar Pradesh
Uttar Pradesh boasts a vibrant and flourishing MSME sector, which serves as the cornerstone of the state’s economy. These small and medium-sized enterprises contribute significantly to its GDP and generate millions of jobs. For MSMEs in Uttar Pradesh looking to invest in their growth, several key opportunities exist.
Government Initiatives: To support MSMEs in the state, the state government has initiated various programs, including the One District One Product (ODOP) scheme and the Nivesh Mitra portal. These schemes offer financial and technical assistance to MSMEs, streamlining the process of raising investments and saving both time and money.
PM Vishwakarma Yojana Scheme: The Pradhan Mantri Vishwakarma Kaushal Samman Yojana, a central government initiative, provides skill training to traditional artisans and craftsmen. MSMEs in Uttar Pradesh can leverage this scheme to train their employees, enhancing productivity and making their businesses more appealing to potential investors.
Targeting the Export Market: The export market presents numerous opportunities for the state’s MSMEs, with the government actively promoting exports from the state. By tapping into government support and the growing export sector, MSMEs in UP can expand their operations and attract increased investment.
Leveraging Fintech: Uttar Pradesh’s MSMEs can harness fintech solutions to attract investment and facilitate business growth. They can utilize online crowdfunding platforms to raise capital from a wide investor base. Furthermore, fintech platforms can automate accounting and financial reporting processes, enhancing their appeal to potential investors. Collaborating with fintech companies to develop innovative financial products and services is another avenue through which MSMEs in UP can pique investor interest.
Mr. Venkeshwar also acknowledged that attracting investment can pose a challenge, but it is an attainable goal when the right strategy and approach are in place. Furthermore, with the sector’s growth on the rise, the outlook appears promising, particularly with new initiatives such as financial inclusion aimed at assisting the underserved sector in India.
Union Minister Narayan Rane also mentioned that there are approximately 9.5 million MSMEs in the state, and when considering the entire country, there are around 63 million functional MSMEs. He stated that through the MSME sector in Uttar Pradesh, small businessmen and farmers have been finding employment opportunities, and they have been significant contributors to India’s growing economy.
India’s new Digital Personal Data Protection Act, 2023, applies to any organization or business involved in the collection or management of personal data. The Act doesn’t only cover data handling within India; it also has authority over data processing that occurs outside India.
India’s rapidly evolving tech landscape has achieved a significant milestone with the introduction and subsequent passage of the Digital Personal Data Protection (DPDP) Bill in 2022. This pivotal legislation gained approval from the Union Cabinet on July 5 and was presented during the Monsoon Session of Parliament, which commenced on July 20, 2023. It swiftly moved through the legislative process, earning approval in both the lower house (Lok Sabha) on August 7 and the upper house (Rajya Sabha) on August 9.
With the President’s official assent granted on August 11, 2023, as indicated in the Government of India’s Gazette notification, the Digital Personal Data Protection Bill of 2022 officially transitioned into the Digital Personal Data Protection Act of 2023.
The reach of the Digital Personal Data Protection Act, of 2023, extends beyond India’s borders, encompassing the processing of digital personal data even when conducted abroad.
Mr. Rajarshi Bhattacharyya, Chairman and Managing Director of ProcessIT Global, compared the Act with the existing General Data Protection Regulation (GDPR) of the European Union (EU). He said, “It is more advanced because GDPR came out some time ago. This policy is more advanced and comprehensive, which will further India’s progress.”
As per a collaborative report from the industry organization IAMAI and the market data analytics company Kantar, known as the ‘Internet in India Report 2022,’ it was revealed that over half of India’s population, amounting to 759 million individuals, actively used the internet, accessing it at least once a month during 2022. The report also highlights that out of these active users, 399 million reside in rural India, surpassing the 360 million users in urban areas. This suggests that internet expansion in the country is primarily being propelled by rural India.
New Data Protection Act Emphasizes Ethical AI and Global Reach
Deepika Loganathan, CEO, of HaiVE, said, “We are delighted to welcome the enactment of the Digital Personal Data Protection Act, 2023 (DPDPA-2023) by the Parliament of India. This landmark legislation aligns perfectly with our longstanding commitment to ethical AI and data protection. We are pleased to announce that our existing framework for on-premises AI solutions already adheres closely to the seven principles and obligations outlined in the Act.”
The Act applies to any organization or business involved in the collection or management of personal data. It categorizes these organizations into two groups: those that determine the reasons and methods for processing (referred to as Data Fiduciaries) and those that carry out the processing based on the instructions of the Data Fiduciaries (referred to as Data Processors).
The Act doesn’t only cover data handling within India; it also has authority over data processing that occurs outside India, particularly concerning goods and services offered to individuals in India. This means that any businesses offering goods or services to Indian residents, regardless of their physical location, would fall under its jurisdiction.
Mr. Nageen Kommu, CEO, of Digitap, said, “At Digitap, we consider ourselves data processors. We don’t store data; we process it on behalf of our clients, who are the data fiduciaries. While there may not be specific guidelines for data processors, we voluntarily adopt the same policies and procedures that data fiduciaries follow. If a customer wishes to revoke consent, we ensure that the data is deleted, complying with the Act’s requirements.”
He also mentioned that the act also addresses data security during storage and transmission and Digitap already has robust security mechanisms in place, as they deal with RBI’s outsourcing norms, which mandate data localization within India.
Obligations for Entities
The Act outlines several obligations that entities must adhere to when it comes to handling personal data. Some of the key responsibilities include:
Informing individuals before collecting their personal data, specifying what data will be collected, the purposes for which it will be used, and the rights individuals have.
Obtaining consent or relying on legitimate reasons when necessary.
Collecting only the personal data required for the stated purpose.
Keeping personal data only as long as needed for the intended purpose and deleting it afterward.
Establishing a mechanism for addressing grievances and concerns raised by individuals.
Implementing appropriate technical and organizational security measures.
Notifying the Data Protection Board and affected individuals in case of a personal data breach.
Seeking parental or guardian consent and refraining from activities like behavioral monitoring, tracking, or processing that could harm children or individuals with disabilities.
Limiting the transfer of personal data outside India to specified territories.
Conducting data protection impact assessments, periodic data audits, and appointing a Data Protection Officer and auditors for Significant Data Fiduciaries.
Complying with requirements regarding the cross-border transfer of personal data and seeking applicable exemptions.
To further align with the obligations of the Digital Personal Data Protection Act, of 2023, Loganathan stated that HaiVE is in the process of fine-tuning the company policies and processes. “We are developing a Digital Personal Data Protection Act, 2023, compliance framework that will serve as a comprehensive guide for our team and our clients. This framework will automatically apply to all our future engagements in India, ensuring seamless compliance with the Act’s provisions,” she added.
Your Rights and Duties Regarding Your Personal Data
Individuals have been granted specific rights under the law concerning how their personal data is handled. These rights encompass:
Right to Access: Individuals have the right to be informed if their personal data is being processed. They can request a summary of the data being processed, details about processing activities (like its use for targeted advertising), the identities of entities with whom their data has been shared (such as processors or third parties), and the types of data shared.
Right to Correction & Erasure: Individuals possess the right to have inaccurate or misleading data corrected, incomplete data completed, and their personal data updated, particularly when this data is shared with other entities or used for decision-making. They can also request the deletion of their personal data (or withdraw consent if consent is the basis), although entities may retain it if required for legal compliance.
Right to Grievance Redressal & Nomination: The Act introduces a grievance redressal mechanism allowing individuals to file complaints with entities regarding compliance with the Act. Entities must respond within a specified time frame. If dissatisfied with the response, individuals can escalate the matter to the Data Protection Board. Moreover, individuals can nominate someone to exercise their rights concerning personal data in case of their incapacitation or demise.
Duties: The Act also outlines certain responsibilities for individuals, such as providing accurate information, refraining from impersonation, withholding material information, or submitting false complaints to the Data Protection Board.
Bills and Acts: Digital Personal Data Protection Act, 2023 | 19 August, 2023
Healthcare Sector Braces for Impact
Kapil Kumar, Chief Technology Officer- Medical Informatics, Artemis Hospitals Gurugram has raised concerns about its implications in the healthcare sector. He said, “Due to the growing uptake of digital health technologies like electronic health records and telemedicine, the Digital Personal Data Protection Act, 2023 will have a significant impact on the healthcare sector.”
According to Mr. Kumar, this measure aims to regulate the collection, storage, and distribution of sensitive patient data, thereby safeguarding individuals’ privacy rights. He also referenced previous incidents that underscore its significance. For instance, in 2019, there was an unauthorized access breach that compromised the health records of nearly 6.8 million patients and doctors. Similarly, in 2021, a breach of Indian government websites exposed the COVID-19 lab results of over 1,500 residents. In Kerala, personal information from more than 200,000 patients was inadvertently disclosed. This regulation emerges as a champion of data privacy in the healthcare sector.
The Act is significantly distinct from the existing law, which offers limited protection, mainly in cases of security breaches, and only for specific types of data (sensitive personal data). In contrast, the Act offers extensive safeguards for personal data by imposing responsibilities and granting individuals greater control and awareness over their personal information.
While the Act unquestionably marks a substantial advancement in safeguarding individuals’ digital rights, the Data Protection Board’s subsequent rulemaking and advocacy efforts will play a crucial role in not only reinforcing these rights but also establishing a structured framework for data processing.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by InXpress.
Courier companies play a big role in helping us get our goods to our doorstep. With the increase in online shopping, shipping and courier companies are also growing like anything. They are highly useful as it allows for the transport of items of various categories that need to be delivered either urgently, or discreetly.
Founded in 1999, the famous courier service company called InXpress was started by John Thompson in the UK. The company was started to provide world-class courier services across the globe.
InXpress is an international shipping and freight consultancy business as well as a DHL, TNT, and TOLL-authorised sales partner.
The company has been developing its franchise idea since 1999. With its determination to consistent expansion, it has become one of the world’s leading franchisers of international fast package delivery and transportation services.
InXpress’s worldwide and domestic Express & Freight services are available throughout the United States, Asia Pacific, the United Kingdom, Africa, and Europe. InXpress provides its SME customers with unique international and domestic shipping options, as well as special bulk purchasing rates combined with new technological solutions and truly individualized customer care and invoicing. It also has a special purchasing power, which gives SMEs a significant competitive edge in receiving the best online shipping estimates, which are generally reserved for huge enterprises. The company has over 440 franchisees in 14 countries, as well as 30,000 clients.
InXpress – Industry details
Courier services these days have indeed become an inseparable part of every business. With this demand, the Freight Transport Management Market is estimated to grow at a 9.8% CAGR during the forecast period (2021-2027).
InXpress – Founder and Team
InXpress is founded by John Thompson in 1999.
John Thompson
John Thompson was born in Ireland in 1949. He and his family went to England when he was a young man, where he completed his schooling.
John Thompson studied Mechanical engineering at Oldham College. He currently serves as the CEO of InXpress. John has worked in companies like Feature Films for Families (FFFF) and Express Worldwide as Managing Director.
InXpress – Startup Story
It was in 1999 when InXpress was founded in Rochdale, England. Founder John Thompson started the company in his bedroom in Rochdale. The company entered the US market in 2006, shortly followed by Australia and New Zealand.
Today, InXpress is present in 14 countries including Australia, Canada, France, Germany, Hong Kong, India, South Korea, Morocco, Netherlands, New Zealand, South Africa, the United Kingdom, United States, and Vietnam. It has over 440 franchisees with more than 30,000 customers.
InXpress – Mission and Vision
The vision statement of InXpress is, “It finds a way forward for each customer.”
InXpress’s mission statement is, “To help companies simplify shipping through personalized service and group buying power”
InXpress – Name, Tagline, Logo
InXpress’s tagline is, “Your Promise.Our Business.Fast, reliable, competitive.”
InXpress – Business & Revenue Model
InXpress’s business operates as a B2B consultative sales franchise model. It has business operations spread over 500 franchisees.
InXpresse’s franchisees work like consultative salesmen, offering small-to-medium-sized businesses large shipping discounts and local support while earning money on every cargo ship. Most franchisees begin as owner-operators from their homes and subsequently develop their businesses by relocating into flex office space and hiring a small sales/customer service crew. To enable franchisees to focus entirely on developing their business, the InXpress corporate support team handles all back-office accounting, including payments, invoicing, billing, and collections.
In the United States, InXpress is the only logistics provider with Authorized Reseller relationships with DHL, and other trucking freight companies. To provide a wide range of shipping alternatives, InXpress maintains arrangements with the best-in-class international and domestic parcel and freight carriers.
Real Estate is always considered as one of the best investments by Indians. There are several real estate companies in India. In a country like India where the population is increasing, the real estate industry is considered to grow much more in the near future.
The increase in demand for the real estate will increase the wealth of the real Estate developers in the country. The covid-19 pandemic and the lockdown had dragged down the real estate industry.
Net Worth: INR 36,733 Crore Real Estate Business Name: Lodha Group
Remarkable Projects of Lodha Group: The World Towers, Trump Tower Mumbai, Lodha Park
Mangal Prabhat Lodha – Richest real estate developers in India
Mangal Prabhat Lodha is the founder of Lodha group which is an Indian real estate company. It is headquartered in Mumbai, India.
The company has developed residential and commercial properties in and around India which include Mumbai, Thane, Pune, Hyderabad, and London.
Rajiv Singh
Net Worth: INR 61,220 Crores Real Estate Business Name: DLF
Remarkable Projects of DLF: Shivaji Park, Model Town, and Kailash Colony
Rajiv Singh – Richest real estate developers in India
Rajiv Singh is the chairman of the DLF company. Delhi Land & Finance (DLF limited) is a commercial real estate that was founded by Chaudhary Raghvendra Singh in 1946. The company is based in New Delhi, India.
Chandru L Raheja and family
Net Worth: INR 29,547 Crore Real Estate Business Name: K Raheja Corp.
Remarkable Projects of K Raheja Corp.: Mindspace, Shopperstop, InOrbit, and Commerzone
Chandru L Raheja – Richest real estate developers in India
Chandru Raheja is the founder of the company K Raheja Corp. K Raheja Corp is a Real estate developer in India. It was founded in the year 1956 and has its headquarters in Bangalore, India. The company develops commercial and residential projects, hospitality, and malls across the country.
Jitendra Virwani
Net Worth: INR 15,172 Crore Real Estate Business Name: Embassy Office Parks
Remarkable Projects of Embassy Office Parks: Manyata Embassy Business Park, Embassy Tech Zone
Jitendra Virwani – Richest real estate developers in India
Jitendra Virwani is the managing director and the chairman of the Embassy Office Parks. The company was founded in the year 1993 and is located in Bengaluru, India. In August 2020, Embassy agreed to merge its residential and commercial projects with listed Indiabulls Real Estate.
The company develops commercial, residential, industrial warehouse spaces, retail, education, and hospitality. The company has developed projects in and around India which include Bengaluru, Chennai, Hyderabad, Pune, Coimbatore, Serbia, and Malaysia abroad.
Niranjan Hiranandani
Net Worth: INR 11,978 Crore Real Estate Business Name: Hiranandani Group
Remarkable Projects of Hiranandani Group: Hiranandani Sands, Hiranandani Fortune City, Hiranandani Parks, Mount Alterra, Hiranandani Business Park, and Hiranandani Signature – GIFT City
Niranjan Hiranandani – Richest real estate developers in India
Niranjan Hiranandani is the co-founder and managing director of the Hiranandani group. The company was founded in the year 1978 in Mumbai, India. This group is one of the largest real estate groups in India. He is also ranked by Forbes among the 100 richest Indians.
This company develops health, education, hospitality, and energy spaces. The company has developed projects across Bangalore, Mumbai, and Chennai.
Net Worth: INR 23,956 Crore Real Estate Business Name: Oberoi Realty
Remarkable Projects of Oberoi Realty: Oberoi Garde, Oberoi Seven, Oberoi Woods, Oberoi Exquisite, and Oberoi Esquire
Vikas Oberoi – Richest real estate developers in India
Vikas Oberoi is the chairman and managing director of Oberoi Realty. The company is based in Mumbai and was founded in the year 1980. The company develops offices, apartments, shopping malls, and hotel spaces.
Raja Bagmane
Net Worth: INR 16,730 Crore Real Estate Business Name: Bagmane Developers
Remarkable Projects of Bagmane Developers: Bagmane Tech Park, Bagmane World Technology Centre, and Bagmane Solarium City
Raja Bagmane – Richest real estate developers in India
Raja Bagmane is one of the directors of Bagmane Developers. The company was founded in the year 1996 and is located in Bengaluru, India.
The company is involved in real-estate activities which include buying, selling, renting, and operating self-owned or leased real estate.
Subhash Runwal
Net Worth: INR 11,450 Crores Real Estate Business Name: Runwal Group
Remarkable Projects of Runwal Group: R City Offices, R square, and R City Mall
Subhash Runwal – Richest real estate developers in India
Subhash Runwal is the founder and chairman of the Runwal group which was founded in the year 1978. The company is known for building homes in the city and suburbs. The company even owns several malls.
Ajay Piramal and Family
Net Worth: INR 29,540 crore Real Estate Business Name: Piramal Group
Remarkable Projects of Piramal Group: Piramal Mahalaxmi, Piramal Vaikunth, Piramal Reventa, Piramal Aranya, and Piramal Agastya
Ajay Piramal – Richest real estate developers in India
Ajay Piramal is the founder and chairman of the Piramal group which was founded in 1984 located in Mumbai, India. He has also been awarded the Business Leader of the Year Award, 2018, International Advertising Association Leadership Awards.
The company has a presence in various sectors such as healthcare, life sciences, drug discovery, financial services, real estate, and many more. The company had formed its own real estate company, Piramal Realty.
Net Worth: INR 8,782 Crore Real Estate Business Name: The phoenix Mills Limited
Remarkable Projects of The phoenix Mills limited: One Bangalore West, Rajajinagar, and Phoenix Fountainhead
Atul Ruia – Richest real estate developers in India
Atul Ruia is the owner of the Phoenix Mills Limited. The company was opened in the year 1996 and is located in Mumbai, India. Atul Ruia is also on the board of 19 other companies.
The company owns the High street Phoenix which was formerly known as Phoenix mall. It is one of the largest shopping malls in India. In addition to the mall, the compound has a 5-star hotel, a multiplex, a residential tower, and a commercial space.
Conclusion
This is the list of the richest real estate developers in India. Real estate sector is one of the most acknowledged sectors in the world and is expected to grow more than double in the coming years. Indian Billionaires in the real estate businesses are adding up with huge net worth. Urbanisation and rising household income has made the industry grow unprecedently.
FAQs
Who is real estate king in India?
Mangal Prabhat Lodha is known as real estate king in India.
Who owns most land in India?
Indian Govt is the biggest land holder in India.
Who is the richest real estate developer?
Donald Bren is the richest real estate developer with an estimated net worth of $15.5 billion.
Who are the Richest real estate developers in India?
Top 10 richest real estate developers in India are:
The increase of startups and the interest of young entrepreneurs to start their businesses has led to many schemes introduced by the Government of the country. Several opportunities are given, to pursue the dream of being an entrepreneur to the interested people. Out of so many schemes, one of them is Mudra Loan.
Mudra loan or the Pradhan Mantri Mudra Yojana (PMMY) scheme was launched in 2015 by the Prime Minister of India. MUDRA, which is short for Micro Units Development and Refinance Agency, provides loans up to Rs. 10 Lakh to the non-corporate and non-farming small and micro-enterprises. This also includes enterprises involving allied agricultural activities.
It is known globally that Indians have a great creative and innovative mind, however the majority of them are unable to convert these ideas into profitable businesses due to financial reasons. This is common in almost all the different sections of society. PMMY was mainly to encourage everyone to try and implement their ideas.
What is Mudra Loan?
In 2013, it was found that there were around 5.77 crore micro and small enterprises in India and about 60% of these were owned by backward classes. These units cannot be covered by the formal loan lending sectors. This means that they might have to depend on informal lending sectors which can lead to a lot of issues or manage with their own funds. The Mudra Loan scheme is to support young, budding entrepreneurs and also existing businesses to expand and experiment with their ideas. This is much more secure and the rate of interest is not very high.
The Schemes Under Mudra Loans
Mudra loans have several schemes under them and they are:
Shishu
This is when the amount required by the borrower is less than INR 50,000. This is usually given to entrepreneurs in their early stages. This is basically a working capital term loan. There are a few things that are checked in this case. The checklist here includes the Machinery quotations and the details. The machine details have to be provided perfectly well. The borrower should also provide all the details that the banks ask for. This might include the details of the supplier. This is basically for startups.
Kishor
This covers loans from INR 50,001 to 5,00,000. This is not for beginners but already established businesses when they want to expand their business operations. In this case, they might require tax returns. The lender needs to know all the details of the company. It is also required to submit the balance sheet for the last 2 years, the estimated balance sheet for 1 year, MOA and AOA, and the sales made before the company applied for the loan in the Financial year.
Tarun
This is another scheme that covers loans from INR 5,00,001 to 10,00,000. This is when the business owner meets certain preset conditions. The required documents and details are similar to that of Kishor but there are a few other proofs that are to be included. This includes the caste certificate, Address proof, Identity proof, and other essential documents. The loans are approved only if all the documents are perfect and none of the documents is missing or faked.
Who Can Borrow Mudra Loans?
Mudra Loan Schemes encourage women
There are various enterprises that can borrow under the Mudra loans scheme. This includes individual business entities, partnership firms, public companies, private companies, Proprietary firms and so on. Also, to be eligible to borrow this, the applicant should have a proper credit track record. The proposed activity is properly studied and based on that, the lender might ask for educational qualifications and other basic requirements.
The borrower will be eligible if he submits all the documents and has all the basic requirements listed by this scheme.
Sectors Covered Under Mudra Loans
Food product sectors
Textile
Transport and transport activities
Community, personal service and social activities.
Activities allied to farming and agriculture.
Finance for the equipment in micro-units.
Business loans for shopkeepers.
Features and Benefits of Mudra Loans
The key benefit of this scheme for borrowers is that they do not need to show collateral or security. Also, there is no processing fee for this. Also, there is no minimum amount that you need to borrow. It can be used for various purposes like expansion, modernization, machine purchase, renovation, etc. There is no processing fee involved. Only in the case of the Tarun loan, 0.5% of the loan amount is charged as the processing fee. Mudra loan can also be availed online and the repayment period lies between 3 and 5 years, depending on various factors. The interest percentage for Shishu is nil and for the other 2, it is 10%. Also, the age of the borrower must be above 18 and below 65 years to avail of Mudra loans.
Steps To Apply For Mudra Loans
It is very easy to apply for Mudra loans. You have to have all the necessary documents.
Step 1: Check what are the documents necessary for the amount you need and keep all the documents ready.
Step 2: Approach a financial institution. This loan is available in almost all renowned financial institutions. You can approach any one of them or even check their website out for details. Make sure to check if the financial institution is registered under the Mudra scheme.
Step 3: The next step is to fill out the application form carefully. Almost all the details like personal and business details. The documents have to be attached. Mention the amount you might need. There are different forms for Shishu, Kishore and Tarun. Choose the right form and keep the documents in hand while filling out the form.
Step 4: Wait for approval. Once the loan is approved, you will receive the Mudra card. You can use the card to draw the money you need.
This is the set process in almost all approved financial institutions. It is safe and secure.
Conclusion
Small businesses and entrepreneurs can go for a Mudra loan as it is easy to get approved and also it will help them get the first capital for their company. Since there is no collateral or security required, it can be availed by anyone satisfying the criteria. This serves as an encouragement for youngsters with an idea to get basic funding for their business idea and hence they will be able to put their idea into practice. This is available in various institutions and also can be dealt with online. This makes the entire process much easier than it is. The only major criteria are that all the documents to be submitted must be perfect and the borrower should be within the specified age limit.
FAQs
Who introduced Mudra Loan?
Prime Minister Narendra Modi introduced the Mudra loan.
When was Mudra Yojana announced?
The Mudra Yojana was announced on 8th April 2015.
How much loan is provided by Mudra Yojana?
Mudra Yojana provides loans of up to INR 10 Lakhs to borrowers.
Indians can now open an Indian passport bank account in the U.S with an app. “The bank account may be opened with Indian passports and other KYC (know your client) local documents,” said Aeldra founder and CEO Sukeert Shanker in a statement, “We are in beta phase, opening some 30 accounts a day and we have a waitlist of about 5,000 customers wishing to open a US bank account.”
How To Open A US Bank Account From India | Aeldra Bank
How To Open A US Bank Account From India?
Aeldra Bank App to open a US Bank Account
In 2020, Aeldra began bridges between India and the United States. Indians can now open a US bank account insured by FDIC with an Indian Mastercard Debit Card on their mobile devices. A valid Indian Passport and Aadhaar number are required for all customers. It takes less than 10 minutes for the mobile account to unlock. As with any other American bank, money may be transferred to the Aeldra account from India through the Indian Government’s Liberalized Remittance Scheme. Customers can make account-to-account transfers, real-time peer-to-peer transfers, deposit checks, lock/unlock the debit card with one click, review transactions, and much more through the Aeldra app (mobile banking app), in addition to transacting with the global Mastercard Debit Card.
The FDIC, short for Federal Deposit Insurance Corporation, is an independent agency of the United States government. He is sponsored by the US government’s full confidence and credit. No custodian has ever lost one penny of FDIC-insured funds since the FDIC started in 1934. FDIC insurance protects funds of up to $250,000 per depositor of bank accounts. There is no fee paid by Aeldra. The ones Aeldra is targeting are clients who want to invest in the US.
Aeldra Bank
Aeldra bank is a neo-bank, meaning it doesn’t have a license for banking. It provides banking services to its customers with the help of existing banks. The business plans to provide similar services in Canada, the United Kingdom and Australia for bank accounts. Using your passport and other local documents, customers from every part of the world should be able to open a bank account in these markets.
Shanker said, “There are many Indians who invest in the US for different reasons. They may want to take exposure to the market. They could be traveling to the country for business or because they have relatives. There are others who start remitting money abroad as they want to send their children for further studies to the US.”
For consumers, there is a high-yield savings account, dedicated concierge, investment and trading service, credit card, and home loans. Apart from wealthy Indians, the bank also targets students, freelancers who get jobs from the US, and micro, small and medium enterprises. Shanker said, “There are many Indians who invest in the US for different reasons. They may want to take an exposure to the market. They could be traveling to the country for business or because they have relatives. There are others who start remitting money abroad as they want to send their children for further studies to the US”.
For consumers, there is a high-yield savings account, dedicated concierge, investment and trading service, credit card, and home loans. Apart from wealthy Indians, the bank also targets students, freelancers who get jobs from the US, and micro, small and medium enterprises.
It is worth adding that under the Reserve Bank of India (RBI) Liberalized Remittance Scheme, an Indian citizen is restricted to remit amount abroad. Each financial year, up to $250,000 can freely be remitted to a foreign country under this scheme.
The regulations allow remittance for specific purposes. For example, an individual can remit funds to another country for private or business travel, gift or donation, employment, emigration, maintenance of close relatives, medical treatment, and education. Individuals can also remit money to invest abroad.
For opening a bank account you need certain documents. Without them, you cannot open a bank savings account. Documents that you need to open a savings account in a bank are – your valid photo identification proof like an Aadhaar card or PAN card, passport, driving license etc.
Can an Indian citizen open a bank account in US?
You may now open a bank account in the US with an Indian passport from an app.
Is Aeldra a bank?
Aeldra is a Silicon Valley and Bangalore-based Fintech company. Aeldra bank is a neo-bank, meaning it doesn’t have a license for banking.
Entrepreneurs do not like to waste time at all. However, some people like watching video content to get break from their busy life. And documentaries are the gold mine for knowledge as well best for enjoying a weekend.
And luckily, there’s abundance of documentaries to stream on Netflix. As an associate enterpriser, despite what proportion you’re thinking that you recognize, there’s perpetually additional out there.
So, if you wish to remain impelled and enrich your business information, whereas obtaining your mind off coronavirus news, here are top Entrepreneur documentaries on Netflix. We suggest you some top-notch documentaries, because Netflix & Chill can obviously be changed to Netflix & Learn.
Online TV has an ample amount of business and tech documentaries and movies. The themes range from profiles of great leaders and innovators like Bill Gates, Elon Musk and Steve Jobs to the psychology behind human behavior. So, here’s a list of some of the business documentaries on Netflix.
Why entrepreneurs should watch Print That Legend? It turns your vision into reality.
This original Netflix documentary for entrepreneurs takes its viewers inside the 3-D Printing Industry. It tells about young emerging companies like MarkerBot and Formlabs as they are racing to switch 3D printing technology tour desktop and in an individuals’ life too. Building a dream from scratch and, innovative new ways of doing things in the world.
Why entrepreneurs should watch The Creative Brain? It taps into the innovative creative process of many innovators while exploring brain-bending, risk-taking ways to tap into creativity.
This Netflix business documentary is basically based on the book “The Runaway Species: How Human Creativity Remakes The World” by the author David Eagleman who himself is a neuroscientist and entrepreneur. Creativity is the basic instinct of business and this marketing documentary encourages entrepreneurship with a creative mind.
Why entrepreneurs should watch The Director: An Evolution in Three Acts? It pulls back the curtain on one of the world’s greatest fashion brand Gucci.
This Netflix documentary takes you behind the scenes of world-greatest fashion house GUCCI. It gives a glimpse of the career of Frida Giannini, the Italian fashion designer and creative director of Gucci.
The documentary follows, how a collection goes from concept to runway to closets and the infinite complexity of a process that most of us take for granted when we pick up a dress-up from the rack. Its a must watch documentary on Netflix for every entrepreneur who wants to get into fashion industry.
Why entrepreneurs should watch I Am Bolt? Inspiration to follow your dreams and aspire more.
This is considered one of the best business documentaries on Netflix, it is about Usain Bolt who is a pioneer of Athletics and a global sports legend. One of the renowned athletes of all time, Usain takes his place on the list through this documentary shot about him.
This documentary aims to provide an insight into how Jamaican sprinter, Usain Bolt managed to reach where he is now, his struggles, inspirations, and relationships. At his finest, Bolt rivaled football legend Pele and legendary boxer, Muhammad Ali, in terms of popularity and acclaim. It’s a very inspirational documentary every entrepreneur should watch.
Why entrepreneurs should watch She did that? Entrepreneurial women set the standard for excellence in business and taking care of yourself while running a business is just as important as closing deals.
It follows up inside the lives of four extraordinary Black female entrepreneurs as they discuss building legacies and pioneering a new future for the next generation. It addresses topics such as funding gaps for women because of color.
It talks about obstacles black women face while working corporate jobs, the implicit bias, and outright racism in business life, as well as when they forget the importance of self-care. A truly empowering documentary on Netflix about women who are building legacies and making history in entrepreneurship.
Tony Robbins: I Am Not Your Guru
Tony Robbins: I Am Not Your Guru
IMDB Rating
Director
Initial Release
6.7/10
Joe Berlinger
2016
Why entrepreneurs should watch Tony Robbins: I Am Not Your Guru? This is a must-watch for those who get anxious when they see a ton of workload on their way and will inspire you to deal with it. Basically, teaches the importance of time management and managing work accordingly.
It is a Netflix documentary about Tony Robbins who is a business strategist, an author, public speaker, coach, and philanthropist and talks of his internationally famous life. It exactly shows the behind story of organizing a workshop; he takes us deep into all the preparations going on and how much it takes to conduct a workshop with this amount of pressure on your back.
This business documentary is for the Entrepreneurs who are finding it tough to adjust with the constant struggle and workload while organizing a workshop, should consider this one.
Minimalism: A Documentary About The Important Things
IMDB Rating
Director
Initial Release
6.7/10
Matt D’Avella
2015
Why entrepreneurs should watch Minimalism? How you can survive with minimal material items in today’s world. By reducing the expenditure, you can increase profits.
A documentary about Minimalism is a must-watch for everyone, be it college students or entrepreneurs. It is aimed at modern-day consumers, where there is a mindset of the importance of material objects and how daily emotions of peace and happiness have taken a backseat. This is how it applies the principles of Minimalism to life and business. It also puts up the idea to give up the idea of using lavish offices and workspaces when the same work can be achieved in ordinary areas.
Fyre: The Greatest Party That Never Happened
IMDB Rating
Director
Initial Release
7.2/10
Chris Smith
2019
Why entrepreneurs should watch Minimalism?
The documentary shows the significance of planning an event and how one should be aware of fraud.
The documentary shows how a con artist known as Billy McFarland founded The Fyre Festival, which was a fraudulent music festival. Many prominent celebrities promote the festival through their social media. At the opening of the festival, the people experience problems related to food, security and accommodation which led to the cancellation of the event. The organisers were subjected to lawsuits for the fraud.
Inside Bill’s Brain: Decoding Bill Gates
IMDB Rating
Director
Initial Release
7.9/10
Davis Guggenheim
2019
Why entrepreneurs should watch Minimalism?
The documentary shows how one of the greatest business leaders gets his motivation from and how his mind works.
This documentary portrays the life story of Bill Gates and how he looks for the solution to complex problems. It focuses on his childhood, the creation of Microsoft and his present state of life. This documentary is a three-part television series.
Steve Jobs: The Man in the Machine
IMDB Rating
Director
Initial Release
6.9/10
Alex Gibney
2015
Why entrepreneurs should watch Minimalism?
The documentary is extremely through-provoking and showed the life of Steve Jobs. It shows that through hard work mone can achieve anything.
This documentary followed the life of Steve Jobs and gives insight into their personal and private life of his. The struggles and his achievements are shown here, although the film only covers 14 years of his life but it has shown three important parts, and how his success has affected his family life. The sacrifices that he made, to reach the level of success are also shown here.
Netflix is not only about Binge-watching and just about movies. Or for that case, using the Internet, Social Media, Watching on OTT platforms is not solely about entertainment. We have to make all these channels for our own benefit. Of Course, Entertainment gives us relaxation and can make us a better person. But it can also be used to get skilled, create a vision, motivate oneself.
These are all top documentaries every entrepreneur should watch on Netflix to get motivated, work hard, and give a lot of dedication to your work. That is all, which is required to achieve your goals and aspire for more always. I hope this article is helpful to you.
So, NETFLIX & LEARN!
FAQ
Who are the Founders of Netflix?
Netflix was founded by two serial entrepreneurs, Marc Randolph and Reed Hastings.
What is the revenue of Netflix?
As of 2020, the net worth of Netflix is over 194 billion USD.
Who are the competitors of Netflix?
Amazon Prime Video, HULU, YouTube are the top 3 competitors of Netflix.
What is a Netflix mini-series?
A mini–series is much more than just a “10-hour movie.” It’s a self-contained story, one that expands over the course of just a handful of episodes. And Netflix is host to more than its fair share of compelling limited series in every genre.
There are over a billion cricket fans in the world and 90% are Indians. Whoa!
With that kind of following, one can’t complain that cricket is called a religion by millions in India. But guess what, there’s a bigger religion with the biggest fan following in the world – money, moolah or currency!
Apparently, BCCI (the richest cricket body in the world) fancied this in time, founded the commercial format of the game in the form of Indian Premier League (IPL) in 2007 and IPL became cricket’s most glitzy, glamorous festival. Add to that, its association with the entertainment business and corporates is something that added more fuel to the cricketing carnival. Today, this sporting event moves and shakes the economy beyond words.
We are a religious nation but also a secular one. So, while some of you will devote yourselves to your favorite deity (player/team), the not-so-religious ones can keep up their excitement by following IPL’s money trail, or in other words, the direct/indirect impact IPL has on our economy. It is no less interesting than the matches themselves. Follow through the end to know-how.
A little flashback first – The Indian Premier League aka IPL cricket championship began in 2008. It has a ’20-over’ format, hence called Twenty20 (T20) tournament. Currently, it has already passed the 14th season in 2021, which concluded with Chennai Super Kings, who took the 14th IPL winner award, as the 4th title home. The IPL tournament constitutes eight teams, where each team is set to play two games with each of the other competing teams, totaling 60 matches over a month and a half.
Basically, this professional sports league has been conceptualised on the lines of the famous UK/American leagues such as the English Premier League, NBA, MLB, NFL et al. The frenzy behind is no less.
Now let’s talk numbers because what is cricket without it. Hang on, we are not going to discuss cricket scores or static stats like run rates, most centuries, or ducks that are overdone anyhow, but instead lay out some dynamic economic data.
● IPL brand value: $4.7 billion, which has noted a 7% rise, as per the February 2022 reports.
● The highest source of income: Media rights, which make up for 60% of its revenues.
● Team with the highest brand value: Mumbai Indians (MI), the value of which has increased by 13% to become $79.5 million.
The real game
Can you guess how many Pani-puris or Pizzas are sold during a match? No idea? Okay, what kind of creative lies do men invent to skip how many productive work hours to watch a match? Can’t say? Fine, at least how many memes, jokes and posts are created during IPL? Duh! Are you even serious?
Alright, the cricket craze hasn’t stumped us that bad. We were only checking your entertainment quotient. After all, it’s the fun persona of cricket branded as IPL, that we will talk about.
Yeah, so let’s show you some real economic figures. From 100s of crores poured in annual auction of players or million and billion dollar deals signed amongst BCCI, sponsors, global media houses, advertisers, etc., not to mention the heavy business activities that take place during and around an IPL championship. Money just flows across various sectors for this Kumbh of cricket. This results in a solid boost in the finances of not only the players, the BCCI, the mammoth size corporations, but also of the government as well as the nation.
(Well, we won’t disappoint you in any way, so check out the best few memes/ jokes/ tweets on IPL towards the end)
We like the American yardstick a bit too much. So, here’s a comparison of the salaries of our players with top US league players.
Average annual player salary in the sports industry
Wow! IPL is second on the list, right under NBA (National Basketball Association). However, we already knew that our cricket/IPL players are awarded pretty handsomely.
Although cricket falls too low in popularity among other global sports like football, basketball, baseball, hockey, etc, but hey, as promised we are only talking about the economics of the game and there we don’t fall too behind.
BCCI, franchises or players – the bigger beneficiary?
BCCI earned INR 4,000 crores from IPL 2020, according to its treasurer. This means every cricket fan contributed 40 rupees. Actually! So, be proud, because you’re not just a passive viewer but an active participant in the economy. Need further proof? Well, the TV and media rights of IPL has been sold for a massive 2.3 billion dollars approximately (INR 16k+ crores) to Star Network.
Here are a few more fantastic figures vis-a-vis IPLs that you can use to tickle your imagination or just revel in delight while you enjoy a match.
● Title sponsorship – Tata Group has replaced the Chinese phone maker Vivo as title sponsors for the 2022 and 2023 seasons of the cricketing phenomenon. Vivo was reportedly booked earlier as title sponsors for the period of 2021-2023, which is why Tata will remain the main sponsor with Vivo next in line, with 2 remaining years of contract with them still.
● Media rights – While we have seen BCCI selling the media rights to Star Sports for INR 16,347.5 crore for the global broadcasting rights i.e. TV & digital for 5 yrs (2018-2022), the cricketing body is now mulling over the expansion of broadcasters where the others will also share the rights in 2022. The deal value for the media rights in the previous installment of IPL is 1.5X from that of the year before. Well, this leap of faith is backed by guaranteed advertising revenues these media giants get. By the way, IPL 2021 ad revenue was calculated at INR 2,950 crores, only in TV advertising.
● Ticket sales – Nil for 2020 as well as 2021 as both seasons were held behind closed doors due to COVID19. Nonetheless, on-air sponsors have multiplied every year and thus the money came pouring from them. Over 10 sponsors, big and small, strike multi-crore deals with each franchise. The rising digital viewership is certainly set to more than offset that loss. However, the IPL 2022 matches are estimated to have a seating capacity of 25%, and the ticket sales have already started going live from 12 pm on March 23, 2022.
● Sports/cricket tourism – 100% loss again! This is one sector that has suffered immensely and globally since the onset of the coronavirus pandemic. So, one can’t really factor it in here. However, with growing relaxation of the pandemic-induced rules, we might see some tourism in 2022.
No one said that religion was just about finding God? It is also about deity worship, rituals, festivals, and much more. Take a hint from it and admit that cricket too isn’t just about fitness and health anymore. It is also about entertainment, business & fun. The government of the day realised it and brought IPL’s income under the tax net.
Income means taxes and taxes mean revenue for the govt. Did you know BCCI was considered a charitable organisation under the IT act, thus, paid zero taxes? Govt took away that privilege in 2012 from BCCI & declared IPL as a commercial activity hence taxable. Although BCCI hasn’t accepted it to date.
Whilst fist-fighting with the Govt on this issue in the background, BCCI has paid little over INR 460 cr to settle tax dues (of an earlier assessment year) in September 2019. However, with 400 million viewers and 400 billion viewing minutes recorded last season, perhaps it’ll have to pay up the balance dues which is close to INR 1300 cr. After all, taxes are a necessary evil.
Okay, but how does IPL affect your and my economy
Good question but a little premature. Happy to explain because that’ll affect my bank balance or say the economy positively. See! That’s how the economy in essence works. There are no free lunches. Likewise, when those big brands like Royal Stag, Flipkart, Vivo, Jio appear on your screen in the middle of an exciting match, you may not like it much but the brands have knowingly or unknowingly made an impression on your mind. With repeated such displays, you tend to remember the brand name for a long. That’s how they increase their customer base. Boom! The brand sales might hit the roof and you may think that you just bought one beer to cheer.
What about the sponsors whose names show on your fav player’s (deity) jersey/cap/bat or placed on the field and other conspicuous places? They get the desired visibility and attention for their brand.
It is not just these purchases and just the sponsor companies that benefit from the IPL excitement. Other businesses and sectors also gain from the festive mood revolving around the religious sport of India, cricket, and cheer too. This is because economic activities always have a ripple effect. For instance, if you are a YouTuber, create content around cricket/IPL & cash it on. If you are an SM marketer, an influencer creates that perfect meme that goes viral faster than any known virus to mankind.
Religion isn’t just about finding God; it is about deity worship, rituals, festivals and so much more. Take a hint from it and admit that cricket too isn’t just about fitness and health. It is also about entertainment, business, and fun.
Let’s dig a little deeper. Sometimes religion pushes its followers into fanaticism and fascism. Cricket too has its dark side. Nah, not talking about betting rackets here. Check out this tweet.
This is just to leave you with an afterthought.
Lets team up this season – on and off the field
Cricket is inherently a sport. And a sport is packed with emotions. So without the energy of a live audience cheering for the teams…emotions run dry. We can’t be emotionally stuck in the pre-COVID era either or reject changing realities of our times. So how do we keep up the enthusiasm? By consuming some great content, like this one? Let us know what you think! Because we passionately & constantly work to score more & more points from our readers.
Conclusion
To end on a lighter note – ‘Stay home, stay safe’ was and is the mantra of the pandemic age, and if you choose otherwise, then take adequate precautions while going out and remaining outdoors. ‘You could cheer for Dhoni or AB de Villiers, so long as you stay fit until next year!’ may be your mantra for IPL 2022, which is starting on March 26, 2022. So, let’s have a field day!
FAQs
Is IPL good for Indian economy?
The IPL teams earn revenue through their sponsors and the sale of merchandise of their kits and garbs. To sum it all up, IPL has an impact on the Indian economy as it produces numerous employment opportunities.
How much does IPL contribute to Indian economy?
The brand value of the IPL in 2019 was $6.7 billion, as per the Duff & Phelps report. According to BCCI, the 2015 IPL season contributed ₹11.5 billion (US$160 million) to the GDP of the Indian economy.
How much is IPL worth?
The brand value of the IPL, as per the reports dated February 2022, is $4.7 billion, which witnessed a 7% increase lately.
When is the IPL 2022 starting?
IPL 2022 is starting from March 26, 2022, as per the reports.
When will IPL 2022 end?
IPL 2022 will be ending on May 29, 2022, as per the reports.
Educational technology is the integrated use of computer technology (software, hardware), educational theory, and training. It provides and manages technological processes and educational resources to improve the user’s academic activity and performance. We can improve the learning process, teaching process and performance of the educational system through technology.
This objective must be taken into account when selecting software, computer programs or tools for the classroom. There are five main areas in this field. It includes design, development, utilization, management, and evaluation. These requirements applied to all knowledge based areas conducted by professionals in this field. Each area of educational technology brings together research-based knowledge and experience.
From classrooms to smart devices, India’s educational media has shifted to a paradigm shift. There are 665 million wireless Internet subscribers(in the first quarter of 2019) in India. India has grown by 14% in base for internet services in a single year. It is good for startups. Digital products and services provide better convenience when it comes to learning in the classroom.
The emergence of coronavirus has a major impact on the Edtech sector of India. The education process in schools, colleges, and other educational institutions changed into online because of lockdown. Also people in the society are feared about spreading of coronavirus. Unlike in the past, schools, institutes and learning centers have also adopted technology-based solutions.
Data sourced from Redseer and Omidyar Network Edtech Report
The usage growth in Edtech market from 2019 to 2020 shows in a report by RedSeer & Omidyar network India. The Edtech user base has a growth from 45 million to 90 million in k-12 & post k-12 sector. It includes both free and paid users. The time spent has increased by 50 percentage. That has changed from 60 minutes to 90 minutes.
The report also says that those who are willing to pay have increased by 40 percentages and the number of paid users has increased by 83 percentages. The report says that the online education offerings will increase 6.3 times by 2022. It will create a market of $ 1.17 billion. The k-12 market will grow 3.7 times to 1.8 trillion. It will create significant opportunities for peoples for different new startups.
The Director of the Omidyar Network India, Namita dalmia said, “The lockdown has provided massive tailwinds to the growing Edtech space. Edtech offerings have helped millions of students across the country to continue their learning from home. These solutions are better, more convenient, and affordable alternatives for students and parents”.
The Requirement For Upskilling Of Working Professionals
The report says that relevance problems have affected education system. As it has affected many professional careers, Edtech players can play an important role in ensuring job security by increasing access to higher technical education (for those who have been unable to progress in their formative years). Also it helps to grow more professionals.
In 2019, the World Economic Forum (WEF) published a report named “Global Competitiveness Report”. According to that report, India has 68th rank among 141 countries. The country is among the best in terms of market size, innovation, and macroeconomic stability, but in job training, digital skills and the ease of finding trained personnel are far behind (ranked 107).
The differences will mainly exist in the general areas of training, language, prices, teacher training and offline support. There are 150 million Edtech addressable students in India. They cross urban lines, income groups, language skills. Excessive use of sub-projects will increase the probability of Edtech companies. Price, delivery, offerings, and teacher training services, and offline support will be affected. Other changes are given below.
A. The Changes Around Sales and Pricing
The report says that price innovation will be important in paid adoption. Especially as Edtech reaches in low-income cities, it can make impact. The annual price will change into $100-$150. There will be a 3 times increase in market. It is leading to paid adoption.
B. The Partnerships Will Rise
Creating partnerships will help Edtech players gain a diverse customer base. As Edtech players expand their user base, areas of collaboration will evolve. Expansion requires the promotion of low-income cities. It represents 70% of the student population.
But, there is only 10% of the current student population as active users of EdTech (free and paid). Indian language platforms are included in the partnerships. They have over 300 million active users per month. The collaboration with the institutions will help to increase the reach.
Real investments in production will help the lower grade user base in Indian language sectors. Edtech is now lagging in the lower grades. They are big on the usage of Indian language.
D. The Promotion And Adoption of Edtech Through Schools
The distance between parents and schools will disappear and will bring new opportunities. About 65 percentage of the total student population goes to government schools and the 85 percentage of the remaining 35 percentage students will go to private schools, while 15 percentages goes to institutions with limited technical facilities.
Students are learning through online classes
Covid-19 encouraged the education sector to focus on the online. But there is also a lack of technical facilities among schools. There is only less than five percent of students who are studying in institutions with technical facilities.
E. The Influence Of Startups
Startups should focus on working better, attracting students, and delivering results through products. This will ensure that the uptick is maintained after restrictions are removed. When invest in content production, EdTech players need to innovate in sales and pricing to provide a broader student base.
Covid-19 will limit the number of customers. The 40% of customers may stop using Edtech after restrictions are removed. It will result a fall in engagement on Edtech platforms. To address this, startups must focus on pricing innovation, Indian language content, expanding user base, and sales innovation.
Outside of the school system, Edtech startups have allowed more and more people to explore new skills, while experienced staff can more easily take on new challenges in the tech industry. If we were to speak to a generation that was working and succeeding in India before the 1990s, we could hear stories that would have been almost impossible. But now situations are different. Edtech startups help them overcome obstacles on their journey of students, employees, and entrepreneurs.
Ed-Tech Startups are creating a base for the future of India and we need to realize the importance of the problems they are solving. From creating a space to teach kids with the latest technologies by the best teachers in the country to providing an income base an exposure to a large group of people. It is not far when we can see these twinkling stars twinkle in the daylight of the future India.
FAQ’s
What are the top Edtech companies in India?
BYJU’S
Unacademy Logo
UpGrad Logo
What is EdTech company?
A combination of education and technology refers to software and hardware designed to enhance teacher-led learning in classrooms and improve students’ education outcomes.
What is the future of Edtech in India?
EdTech has seen an upsurge and is expected to be the new normal in the future as well. India is currently home to over 3, 500 EdTech start-ups, and online education in India could be worth $1.96 billion by 2021.
Devashish Shrivastava
