Tag: indian government

What is Vehicle Scrappage Policy | How Startups will Benefit from Vehicle scrappage policy
We all have had our own share of episodes of looking at rusty, old, vehicles covered in black, dense smoke bumbling past us, and we remarking, “how did it get past the usual security checks and roam about freely?”

Well, this is how things used to be on the Indian roads where we could name a brand new Mercedes or a BMW and a polluting, dilapidated truck or van in the same breath.

Out of the total air pollution that the Indians suffer from, a massive 27% of it is caused by vehicular emissions. Though a number of companies including Ola, Reliance, Tata, and others have started stressing about eco-friendly ways and have embraced Green Marketing to change the way how the industries and the vehicles run, we are yet to triumph over our greatest enemy, pollution.

However, with the new vehicle scrappage policy that PM Narendra Modi announced on Friday, August 13, 2021, the Indian government aims to get rid of all the unfit and polluting vehicles as a stern measure to suppress vehicular air pollution.

What is the Vehicle Scrappage Policy?
Automobile Scrappage Policy Guidelines
When will the scrappage policy start to come into effect?
Main Objectives of the Vehicle Scrappage Policy
What will the new Vehicle Scrappage Policy bring in?
How will the Indian Vehicle Scrappage Policy Benefit the Startups of the Country?
How will the National Automobile Scrappage Policy Benefit the Common Man?
FAQ

What is the Vehicle Scrappage Policy?

Scrapping means “to throw away or get rid off” and the new scrappage policy is formed around the same idea.

The vehicle scrappage policy, as announced by the Prime Minister of India at the Investor Summit in Gujarat, revolves around the idea of phasing out all the vehicles from the Indian roads, which are polluting and deemed as unfit.

Here’s what Narendra Modi has remarked via his Twitter handle:

The launch of Vehicle Scrappage Policy today is a significant milestone in India’s development journey. The Investor Summit in Gujarat for setting up vehicle scrapping infrastructure opens a new range of possibilities. I would request our youth & start-ups to join this programme.

— Narendra Modi (@narendramodi) August 13, 2021

Automobile Scrappage Policy Guidelines

The scrappage policy for the automobiles of the country lists some guidelines following which the vehicles will be scrapped.

On this, Union Minister Nitin Gadkari mentioned that according to the newly launched vehicle scrappage policy, the commercial and personal vehicles will be scrutinized, which are over 15 years and 20 years old, and will be scrapped if they fail to pass a government-imposed test. “They will be seized and destroyed,” added Gadkari.

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When will the scrappage policy start to come into effect?

The automobile scrappage policy will be coming into effect from April 2022, starting with the vehicles owned by the Indian government and its allied entities like the PSUs.

Next, the government will consider mandatory testing for heavy commercial vehicles, which will start in April 2023. Finally, the testing will also include vehicles belonging to all other categories, which will come into effect from June 2024.

Main Objectives of the Vehicle Scrappage Policy

Among the main objectives of the vehicle scrappage policy, the reduction of air pollution is the primary goal that the government is looking forward to attaining.

Reducing the Pollution caused by the Vehicles

The main objective of the vehicle scrappage policy is to oust the polluting vehicles and lessen the overall vehicular pollution to the minimum. This will be a great help towards promoting a circular economy for the country.

Creating Employment for the Indians

The scrappage policy of vehicles would be a major project to undertake for the government of India in the upcoming years, the new scrappage policy would attract investments worth Rs 10000 crore.

This will not only be a project for the government workers but will be a massive employment opportunity for the youngsters, poorly employed, and the unemployed section of the country.

Encouraging Circular Economy in India

A circular economy can be defined as a systemic approach to economic development, which will further benefit businesses, society, and the environment at large.

The circular economy, as hinted by Modi, is regenerative and sharply contrasts the “take-make-waste” linear model, which further strives to rely less on the consumption of non-renewable resources.

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What will the new Vehicle Scrappage Policy bring in?

The vehicle scrappage policy strives to phase out the above-mentioned vehicles in an environment-friendly manner. Therefore, the whole initiative ensues the establishment of scrapping infrastructures like Automated Testing Stations and the setting up of Registered Vehicle Scrapping Facilities.

How will the Indian Vehicle Scrappage Policy Benefit the Startups of the Country?

According to Narendra Modi’s nationwide video conference, which also had Nitin Gadkari, Minister for Road Transport and Highways, the Prime Minister has also announced that the Indian government is also willing to collaborate with the budding companies or the startups, which is expected to be a significant boost to the pandemic-struck startup ecosystem.

How will the National Automobile Scrappage Policy Benefit the Common Man?

Along with benefitting the startups and the unemployed, the scrappage policy will also greatly benefit the common man. Here’s how it is a win-win situation for them:
- For all the scrapped vehicles the vehicle owners will receive a certificate to testify their scrapped car. Furthermore, the government will ensure that they will not have to pay registration fees when they buy a new car.
- They will also receive tax benefits, which would include a discount on road tax. This way it would act as an incentive for scrapping an old vehicle.
- The old vehicles would be seized for the person, which might seem to be a loss but actually would be profitable for the particular person. If one possesses an old vehicle, he would have to spend money on the maintenance costs, repair cost, and fuel efficiency of the old car, which he/she would be spared from.
- The owners of the old vehicles would be eligible for the best price for car scrappage for all the workable parts like the tires.
- Lastly, they will be eligible to buy new and advanced vehicles, which will be safer for their upcoming journey.
FAQ

What will happen to the vintage vehicles?

According to the scrappage policy of the Indian government, it will scrape all the old cars except the vintage automobiles. Gadkari mentioned that no such guidelines have been formed for vintage vehicles as of now, adding they will also regulate the vintage vehicles with the upcoming list of guidelines.

What will the incentives that the scrappage policy will entail?

The vehicle scrappage policy will offer incentives for the owners of the scrapped vehicles. Once their vehicles are scrapped, they will be issued relevant certificates for the same. The old vehicle owners can show these certificates whenever they decide to purchase a new vehicle and can get up to a 25% rebate on road tax.

Will there be a GST Rebate for the scrapped vehicle owners?

According to the policy, it has been decided by the government that whenever a scrapped vehicle owner will go for a new purchase, he/she will be allowed a 5% discount on the basis of the certificate issued for their scrapped vehicle. Gadkari has further mentioned that he has also requested the Finance Minister to grant a GST rebate for them, which is pending approval.
August 14, 2021

Marketing Strategy of Indian Oil Corporation Limited (IOCL)

Indian Oil Corporation Limited or Indian Oil is one of the largest Indian government-owned Oil and Gas Companies. The company was founded in 1959 and is currently the largest commercial oil and petroleum enterprise in India. IOCL ranks 151st position in Fortune Global 500 list and 2nd in Fortune India 500 list for the year 2020.

IOCL has so far been successful in meeting the fuel demands put up by the world’s second most populated country. Let’s see what they’re doing differently from their competitors to improve their brand image. In this article, we will try to shift the focus towards the marketing strategy of Indian Oil Corporation Limited.

IOCL – Company Highlights

Company Name	Indian Oil Corporation Limited
Headquarters	New Delhi (headquarters), Mumbai (registered office)
Industry	Energy: Oil and gas
Chairman	Shrikant Madhav Vaidya
Founded	1959
Website	iocl.com

Overview of Indian Oil Corporation Limited (IOCL)
IOCL Marketing Mix
IOCL – Product Strategy
IOCL – Pricing Strategy
IOCL – Place & Distribution Strategy
IOCL – Promotion Strategy
IOCL – Conclusion
IOCL – FAQs

Overview of Indian Oil Corporation Limited (IOCL)

Indian Oil Corporation Limited was founded in 1959 and since then handled the responsibility of meeting the fuel demands of India. The company is under the control of the Government of India & the Ministry of Petroleum and Natural Gas. As of 2020, the oil and gas company earned a net profit of ₹43,242 crores (US$6.1 billion) in sales turnover among India’s most profitable state-owned companies.

The company is an expert in the production of crude oil, natural gas, petrochemicals, refining, pipeline transportation and marketing of these products. The IOCL holds nearly 35% of national refining capacity together with its subsidiary Chennai Petroleum Corporation Limited (CPCL) and 65% downstream sector pipelines through capacity.

All About Indian Oil Corporation Limited

The Indian Oil Corporation is known to have over 33,500 employees along with its subsidiaries in countries like Sri Lanka, Mauritius, the UAE, Singapore, Sweden, the USA and the Netherlands. The company is currently setting up over 20 joint ventures with reputed business partners from India and abroad to explore global opportunities. Some of the International Indian oil corporation subsidiaries are Lanka IOC in Sri Lanka, IndianOil Mauritius, and the IOC Middle East FZE.

In January 2021, IOCL overall sales were at an all-time high of 4,10,000 barrels of oil. Some of the main competitors of Indian Oil Corporation Limited are:

Hindustan Petroleum
Bharat Petroleum
Essar Oil & Shell
Reliance Industries
Mangalore Refinery and Petrochemicals Limited

So how does a company like Indian Oil Corporation Limited markets its product effectively and efficiently that it beats all its competitors to scale up in the oil and gas sector? Let’s see their unique marketing strategies.

IOCL Marketing Mix

The marketing mix usually refers to the set of actions, or tactics, that a company uses to promote its brand or product in a particular market. The marketing mix is the best business strategy of Indian Oil Corporation as it is centered around the product, price, place, promotion and nowadays also includes Packaging, Positioning, People and even Politics.

The IOCL’s business model is based on the Indian Oil Corporation (IOCL) marketing mix that helps the brand to succeed. The marketing mix of Indian Oil Corporation also analyses and explains the marketing strategy for petroleum products. There are different types of marketing strategies such as product innovation, pricing approach, promotion planning, etc.

The company’s marketing mix explains the importance of the product, pricing, advertising and distribution strategies used by the Indian Oil Corporation (IOCL). Indian Oil Corporation’s marketing strategy has so far successfully helped the company to position itself competitively in the market, and achieve its business goals and objectives effectively and efficiently. Let us start the Indian Oil Corporation’s (IOCL) Marketing Strategy & Mix to understand its product, pricing, advertising and distribution strategies.

IOCL Product Strategy

Indian Oil Corporation is one of the leading oil and gas companies not only in India but worldwide. Indian Oil Corporation is present across the hydrocarbon value chain and accounts for over half of the country’s petroleum products market. IOCL also has over 35% share in refining and 65% share in the downstream sector pipelines. Out of the total 23 Indian refineries, the company owns and operates 11 of them.

Indian Oil Corporation’s product portfolio in its marketing mix includes Indane gas, Autogas, Natural gas, petrol, diesel, jet fuel, lubricants & greases, kerosene, industrial fuels, Bitumen, petrochemicals, crude oil and some other special products. While its other businesses include refineries, pipeline transportation, distribution & marketing and Research & Development.

The company is also known for the popular brands under it, which are Indane LPG, SERVO Lubricants, Autogas LPG, XtraPremium Petrol, XtraMile Diesel and PROPEL petrochemicals. These brands have the added advantage of established customer awareness. The marketing strategy for petroleum products has made it possible for the company to become a leader in various sectors.

IOCL Pricing Strategy

The IOCL pricing strategy runs on the idea of profit-making. In 2020, the profit of IOCL was estimated to be $6.1 billion. Since the Indian Oil Corporation is a government-owned company, some of the pricing decisions are made by the Central Government of India after considering the taxes and subsidies. The IOCL prices are different in different states and cities as geographical pricing mechanism is followed in its marketing mix.

The prices are commonly divided on the basis of metro cities, state capitals and National Capital Region (NCR). The prices in each product category (2021) are:

Petrol prices vary between Rs.101.84 to Rs.130.23 per liter depending on location.
Diesel prices have crossed Rs.90 per liter in most major cities.
Autogas price ranges from Rs.55 to Rs.57.
ATF price ranges from Rs.59400 to Rs.74000 per KL for domestic airlines and $602-800 per KL for international airlines.
Indane Gas’s price range is between Rs.834-944 per 14.2 Kg Cylinder.

IOCL Place & Distribution Strategy

The IOCL’s marketing mix is based on its wide geographic presence, as it holds and controls 10 refineries (Paradip, Panipat, Mathura, Haldia, Gujarat, Barauni, Bongaigaon, Guwahati, etc) across the country. Besides that, the company also controls over 10,900 km of pipeline connecting to high-demand places, 132 Km of gas pipeline and 37,000+ customer touchpoints. The company also has its subsidiaries in countries like Sri Lanka, Mauritius and UAE.

It also has 20 joint ventures with reputed firms in India and abroad; 25,000 diesel and petrol stations and also one outlet in the world highest point. IOCL also has 6000 LPG distribution stations, 6,218 bulk consumer pumps and 100 aviation fuel stations. Another interesting fact about IOCL is that it has more than 9,400 fully automated fuel stations situated in nearly 55 cities providing products and services to its customers.

IOCL Promotion Strategy

Promotion is the most important part of Indian oil corporation limited as it led the company to become one of the most valued and trusted brands in India. IOCL realizes the impact of a good promotional plan, offers and periodic incentives to maintain its customer base. The promotion in IOCL includes advertising tools like hoardings, print advertisements and commercials on television in order to increase its brand visibility.

Indian Oil Corporation limited marketing also includes loyalty programs like fleet cards where customers can earn points and during festive seasons some gifts would be given to consumers through a lucky draw.

Since we have covered the 4Ps of the marketing mix, here are the other 3Ps to make it the 7Ps of the marketing mix of Indian Oil Corporation.

People

People play a vital role in the marketing mix of Indian oil marketing, as the company has around 33,000 employees that work in various business processes. The company recruits mainly through advertisements in newspapers and the company’s website. IOCL also spends a lot in training and development of its employees to develop their capabilities. The employees also hold equity of nearly 65 lakh shares in the company.

Indian Oil Workplace Experiences

Process

The company deals in many business, distribution and people processes to serve customers and corporate clients. To remain profitable in a business, the processes used to run should be working at an optimal rate. IOCL has taken every measure to improve operational efficiency, as it maximizes the LPG extracts for a refinery that uses the INDMAX technology.

Physical Evidence

Indian Oil Corporation has its physical presence because of petrol pumps and gas stations not only in India but worldwide. The Indian oil logo is a saffron circle with the blue color outer ring and a blue color band in the middle of the circle with ‘Indian Oil’ written in the Devanagari script. It also has an iconic tagline known as ‘The Energy of India’ which is a rightful representation of the Company.

IOCL – Conclusion

With over 10 refineries and pipelines network span of over 9,300 km, IOCL is the leader in the Indian market. IOCL is the 20th largest petroleum company in the world and also has a foothold in the international markets. With an excellent marketing mix, the company’s future looks bright.

IOCL – FAQs

What is Indian Oil Corporation Limited?

Indian Oil Corporation Limited or Indian Oil is one of the largest Indian government-owned Oil and Gas Companies that cater to the fuel need of people across the world.

Where is the headquarters of Indian Oil Corporation Limited?

The headquarters of Indian Oil Corporation Ltd is New Delhi whereas its registered office is located in Mumbai, Maharashtra.

What is the distribution channel of the Indian Oil Corporation?

There are 20,575 retail outlets. IOCL has an outlet in the world’s highest point. The company also has 6000 LPG distribution stations, 6,218 bulk consumer pumps and nearly 100 aviation fuel stations.

Who is the owner of the Indian Oil Corporation?

Indian Oil Corporation is a government-owned company having its ownership under the Ministry of Petroleum and Natural Gas.

Where is Indian Oil Corporation’s biggest refinery located?

The Indian Oil Corporation’s biggest refinery is located in Jamnagar, Gujarat.

What is the salary of Indian Oil Corporation employees?

The gross salary of IOCL employees is between Rs.60,000 to Rs.1,80,000 depending on the post of the employee.

August 12, 2021

List of Economic Relief measures announced by the Government for Startups and Businesses

The Covid-19 had created a huge impact on the Indian economy and the lockdown due to the second wave had left a lot of people unemployed and a lot of businesses around the country to be closed down. However, the Government has announced various Economic Reliefs to boost the economy concentrating on various businesses and startups. In this article let’s look at more information on the Economic Relief Measures.

Economic Relief Measures – Latest News
Loan Guarantee Scheme
ECLGS
Support to the Tourism Industry
Atmanirbhar Bharat Rozgar Yojana
Subsidy on Fertilizers
Underwriting of Additional Projects
Other Economic Relief Measures
FAQ

Economic Relief Measures – Latest News

The Finance Minister of the country, Nirmala Sitharaman had addressed the press conference on 28 June 2021 and has discussed about various economic relief measures. The Finance Minister has addressed various reliefs for the sectors affected due to Covid-19.

ECONOMIC RELIEF MEASURES announcements by Hon. FM @nsitharaman

Thread of All Measures

• Health Sector pic.twitter.com/o4e6Jqr9co

— Office of Mr. Anurag Thakur (@Anurag_Office) June 28, 2021

Loan Guarantee Scheme

The Finance Minister has announced a Loan Guarantee Scheme for the affected sectors due to Covid-19 of around INR 1.1 lakh crore. The Government will provide a guarantee coverage that is 70% for new projects and around 50% for the expansion and the duration for the guarantee will be up to 3 years.

This is concentrated on the health sectors and medical infra specially targeting the underserved areas would get an amount of INR 50,000 crore. Other sectors would get INR 60,000 crore and the interest rates would be around 8.25 % p.a.

ECLGS

The Emergency Credit Line Guarantee Scheme of an additional INR 1.5 lakh crore has been announced. The coverage on Contact-Intensive sectors will be continued and the loan amount that is proposed and the limit of admissible guarantee is expected to increase above 20%.

Support to the Tourism Industry

The Government has announced to provide support to the tourism industry by providing monetary support to more than 11,000 travel and tourism stakeholders and tourist guides. The tourism sector will also be provided with loans under the new loan guarantee scheme for areas affected due to Covid.

The Government has announced that it would provide loans that are 100% guaranteed up to INR 10 lakhs for the Travel and Tourism sector agencies and an amount up to 1 lakh for the licensed tourist guides.

The Finance Minister also announced that they would provide free tourist visas and conveyed that once the issuance of visas is restarted the first 5 lakh visas will be issued free of cost and that is offer will be available only once per person. This scheme will be valid till 31 March 2022 or until the number reached 5 lakh tourists.

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Atmanirbhar Bharat Rozgar Yojana

The Atmanirbhar Bharat Rozgar Yojana has been extended from 30 June 2021 to 21 March 2022. The scheme provides incentives for the employers in order to increase the new employment opportunities through EPPFO.

The Government has also approved an outlay of INR 22,810 crore that is expected to benefit around 58.50 lakh beneficiaries by providing them with a monthly wage of around INR 15,000. So far, the benefits of around INR 902 crore have been given to around 79,577 beneficiary establishments.

Nirmala Sitharaman also stated through the press release that through this scheme from the last October until 18 June 2021 around 2.14 million people have been benefited from around 79,577 establishments.

Subsidy on Fertilizers

An additional subsidy for P&K fertilizers and DAP fertilizers has been announced. The NBS subsidy has been increased to INR 42,275 crore in the FY 2021-22 from INR 27,000 crore in the FY 2020-21. An additional amount of INR 14,755 crore is announced to be provided for DAP as well as NPK based complex fertilizers.

The Government has also conveyed that an amount of INR 85,413 crores has been paid to the farmers.

Underwriting of Additional Projects

The Finance Minister also said that there would be underwriting of the additional export projects through the EXIM bank that is worth around INR 33,000 crore. The Minister also conveyed that in the span of the next 5 years there would be an equity infusion in the Export Credit Guarantee Corp of INR 88,000 crore.

Other Economic Relief Measures

Some of the other announcements during the press release include providing a viability gap funding of INR 19,041 crore for broadband connectivity in villages through Public Private partnerships, flexibility in claiming incentives linked to production by the large-scale electronics manufacturers, etc.

Conclusion

Narendra Modi, the Prime Minister of India had tweeted that the announcements will help in stimulating the economic activities, boost the production and increase the exports as well as increase the employment opportunities.

FAQ

How did Covid 19 impacted Indian economy?

The economic impact of the COVID-19 pandemic in India has been largely disruptive. India’s growth in the fourth quarter of the fiscal year 2020 went down to 3.1%

Is the Visa free under the Economic relief measure by the government?

The first 5 lakh visas will be issued free of cost and the offer is only available once per person.

June 30, 2021
Will the Central Bank of India become a Private bank? | Why is the Government Privatizing banks?

The Government of India had made a number of announcements and plans in the Union Budget of 2021-22 and one of the major plans was in regards to disinvestment of privatization. In this article let’s look at the plans of the Government in regards to privatizing the banks and whether the Central Bank of India would become a Private banking organization.

Privatization of Public Banks – Latest News
Reason Why Government is Privatizing the Public Banks
Banks Officers’ Confederation on Privatization of the Banks
FAQ

Privatization of Public Banks – Latest News

The Government of India had shortlisted 4 Public sector banks in order to privatize them in the fiscal year 2021-22. The four banks on the list are Bank of Maharashtra, Bank of India, Indian Overseas Bank and Central Bank of India.

The Government of India has decided to privatize just two of these banks for now and according to certain reports NITI Aayog has decided to privatize the Central Bank of India and Indian Overseas Bank and their names were shortlisted by the organization.

The report also added that the Bank of India will also be a candidate that is potential enough for privatization. In regards to disinvestment, NITI Aayog has submitted the names of two state-run banks and one general insurer to the secretaries of the committee.

Reason Why Government is Privatizing the Banks

The Modi Government has been pushing to sell all the assets that are owned by the Government in order to cover up the expenses for the Coronavirus Pandemic and to increase the revenue of the Government as it has spent a massive amount for the recovery from the pandemic.

The announcement regarding the privatization of the banks was made during the Union Budget announcement of 2021-22. The Central Government has a target to gain around INR 1.75 lakh crore from the sale of stakes in the current fiscal.

The Central bank of India and other public sector banks will probably become a private bank as the Government has already implemented it in many other sectors and to some banks as well. The country has only 12 public sector banks as compared to 27 in the year 2017.

GDP of India

Banks Officers’ Confederation on Privatization of the Banks

The Confederation of Bank officers does not seem to be much happy with the decision made by the Central Government. The officers had even called for protests and strikes regarding the case. The strike notice had conveyed the message that the decision of the Government in order to privatize the public sector bank is totally unwarranted and added that the requirement right now is to strengthen the public sector banks.

It is found that the State Bank of India will be the only bank that would remain a public sector bank and the Government had justified this statement by saying that the bank is a strategic bank and it is responsible for the implementation of the public sector initiatives like expanding the rural credit.

The Banking unions have conveyed that the same can be done to other public sector banks. They added that certain schemes such as MUDRA and Jan Dhan Yojana have been successful due to the vigorous implementation of the public sector banks.

The unions also believed that during the pandemic they were an important part in implementing the measure in order to support the plans of the Government to provide liquidity and fiscal stimulus. Privatizing the public sector banks is like providing the money of the people to private hands with a different interest towards them.

Conclusion

The Government is also privatizing Air India, BPCL, and shipping corporations, and the process for it has already been started in the current fiscal year. The proposal regarding privatization is handled by DIPAM and the Department of Financial Services.

FAQ

Why do Governments Privatize?

Privatization generally helps governments to save money and increase efficiency, where private companies can move goods quicker and more efficiently.

What are some examples of privatization?

Public sale of shares, Public auction, Public tender and Direct negotiations are some of the example of privatization.

Which are the 2 banks that are going to be Privatized?

The Government of India had shortlisted 4 Public sector banks in order to privatize them but has decided to privatize just two of these banks for now, which are the Central Bank of India and Indian Overseas Bank and their names were shortlisted by the organization.

June 25, 2021
These companies are Enjoying the Monopoly in India

A Monopoly is a situation in the market when a specific company or an enterprise is the only supplier of a particular product in the country. India has some companies in which have a monopoly in the market. Let’s look at the companies which have a monopoly in the Indian market.

IRCTC
Coal India
ITC
Pidilite
Nestle
Marico
Hindustan Zinc
HAL
FAQ

IRCTC

IRCTC has a 100% monopoly in their respective sector in the Indian market. IRCTC stands for Indian Railway Catering and Tourism Corporation. IRCTC is a subsidiary company of Indian railways which involves in providing services such as ticketing, catering and tourism.

The company was founded in the year 1999 and has its headquarters located in New Delhi, India. The Company in the beginning was fully owned by the Government of India under the control of Indian Railways but during the year 2019, the company was listed on the National Stock exchange (NSE). The majority shareholding is still with the Government of India.

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Coal India

Coal India has an 82% monopoly in their respective sector in the Indian market. Coal India Limited is also a company which is undertaken by the Government of India. The company was founded in the year 1975 and has its headquarters in Kolkata, India.

Coal India is the largest coal-producing company in the world. The company is also a Maharatna public sector undertaking. The company has a contribution of around 82% of the total coal production in India. Coal India is owned by the Union Government of India and its operations are taking place through the Ministry of Coal. It is the 8th most valuable company in India.

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ITC

ITC has a 77% monopoly in their respective sector that is the manufacturing of Cigarettes in India. ITC Limited is an Indian based multinational conglomerate. The company was founded in the year 1910 and has its headquarters located in Kolkata, India.

ITC has a monopoly over their cigarette brands in the country other than that they have a wide range of products and services such as Hotels, FMCG, Packaging, Paperboards, Agribusiness and Specialty Papers. The company was formerly known as India Tobacco Company limited and later in the year 1974 it was renamed as ITC Limited where ITC doesn’t stand for any acronym.

Pidilite

Pidilite has 70% monopoly in their respective sector in the Indian market. Pidilite Industries Limited is an Indian based manufacturing company. It was founded in the year 1959 and has its headquarters located in Mumbai, India.

Pidilite Products

The company is mostly involved in the manufacturing of adhesives and also has its monopoly share in the adhesive manufacturing sector. Other than this the company is involved in consumer products such as art materials, food and fabric care, car products, stationery materials, etc.

They are also involved in the manufacturing of specialty industrial products such as industrial pigments, industrial adhesives, textile resins and leather chemicals.
One of the major brands under Pidilite is Fevicol.

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Nestle

Nestle has a 97% monopoly in their respective sector that is Cerelac in India. Nestle is a Switzerland based multinational conglomerate. It was founded in the year 1866 and has its headquarters in Vaud, Switzerland. The company is involved in the manufacturing of food and drinking products. Nestle is the largest food company in the world.

Nestle Products

Cerelac is an instant cereal which is manufactured under Nestle. Other than this Nestle has a wide range of products such as baby food, medical food, bottled water, coffee and tea, dairy products, confectionaries, ice cream, chocolates, frozen food, pet foods, etc.

Marico

Marico has a 73% monopoly in their respective sector that is Premium Edible Oils in India. Marico is an Indian based company. The company was founded in the year 1990 and has its headquarters in Mumbai, India. Marico is one of India’s leading companies in the consumer goods sector.

Other than Premium edible oils the company has a wide range of products and brands such as hair care, skincare, male grooming, health foods, fabric care, etc. Marico has its presence in almost 25 countries across Africa and Asia.

Hindustan Zinc

Hindustan Zinc has a 78% monopoly in their respective sector that is the manufacturing of Zinc in India. Hindustan Zinc Limited is an Indian integrated mining and resource-producing company. The company is undertaken by a Central Public Sector. The company was founded in the year 1966 and has its headquarters located in Rajasthan, India.

The company is involved in the mining and resource production of zinc, lead, cadmium and silver. In the year 2003 Hindustan Zinc was sold to Vedanta Ltd. Currently, the company is a subsidiary company of Vedanta Ltd.

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HAL

HAL has a 100% monopoly in their respective sector in the Indian market. Hindustan Aeronautics Limited which is commonly known as HAL is an Indian company that is owned by the state. The company was founded in the year 1940 and has its headquarters in Bangalore, India. HAL is an aerospace and defense company.

HAL is involved in the operation of aerospace and is also involved in the design, assembling and fabricating of aircraft, jet, engines, helicopters and their spare parts. The company is governed under the management of the Indian Ministry of defense.

Top 5 Innovative Space Startups of India

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FAQ

What is a good example of a monopoly?

A monopoly is a firm who is the sole seller of its product, and where there are no close substitutes. Examples: Microsoft and Windows.

What are the 4 types of monopolies?

Natural monopoly, Geographic monopoly, Government monopoly, and Technological monopoly are 4 types of monopolies.

Is Coca Cola a monopoly?

Coca-Cola, Pepsi, etc are not a monopoly because they are in one of the most crowded industries – Drinks and Soft Drinks.

Conclusion

These are the top companies that has a monopoly in the Indian market. A monopoly market has its own benefits and disadvantages. It is always good for a country to have a mixture of companies with some monopoly companies.

April 24, 2021
How to Register a Business in India

The 21st century is the century of startups and new rising companies. If you too want to start something of your own, something different and promising but don’t know how to put it up in front of the world in a legal way or you are too intimidated by the modus operandi here’s something for you that can help you start your venture of business and money-making.

Some Fundamentals of Registering your Business in India

Checklist for Business

Before going for the legal authentication part make sure you have done some profound research on the market you are going to step in, build a product that fits the demand of the people, and have an easy yet noteworthy name for your brand so that your registration process goes as smooth as it can be. You simply can’t build a business if you don’t have the exact idea of what you are going to present in front of the world. Make sure you are confident enough to start sailing in the ocean of marketing.

The Legal Way of Registration

Registering your business offline could be a complicated and greasy process. It is far better to do it online and it gives more transparency on how the systems work. Here are certain procedures that have been broken down into simple steps to help you register your business in India.

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Visit the Website of the Ministry of Corporate Affairs

When you start the process of registration, first of all, you need to visit the government website of the Ministry of Corporate Affairs (MCA). There you will need to find two forms, one of them is named DIR-3-KYC and the other as DSC (Digital Signature Certificate). You need to fill out these two forms first then apply for the DIN i.e. Director Identification Number.

Documents to be submitted

While filling out both of the forms you need to have certain documents handy as they have to be submitted along with both of the forms. These documents include proof of address, educational qualification, current occupation, passport. Along with all these documents you also need to send some passport size photographs.

After filling out these forms you will have to register for the Digital Signature Certificate, also known as DSC without which you won’t be able to apply for the company registration in the online mode. For this, you also need those same documents which include proof of address, educational qualifications, current occupation certificate, passport, and passport size photographs.

File an Application

Once you are done with the previously mentioned forms, prepare an application. In this part, you will have to fill up the 1A form electronically. This process officially performs the registration of the name that you want to give to your company. You cannot just give a name that you think is suitable for your business. Here you will have to send a list of at least four names out of which one will be selected by the RoC based on their availability and whether they are appropriate. It is normally better to give more than 5 names as you will have more chances for your application not to get denied.

The RoC (Registrar of Companies) might take up to 2 days to respond. In this process, you will have to pay a fee of Rs. 500. Once the RoC approves the name that you have provided, the registration of the company must be done within 6 months of approval. If not done within the period, the whole process of registration has to start all over again.

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Draft the MoA and AoA

The last step of registration includes the drafting of the Memorandum of Associations (MoA) and the Articles of Association (AoA). As these are two legal forms, these need to be dealt with carefully where you might take help from Lawyers while filling out the forms. The MoA provides a list of the different agendas of the company while the AoA lists out the details of the Company’s operation and its management. Both the Documents need to be compulsorily signed and attested by a minimum of two people from the company with a person being the witness of the whole drafting process.

Draft MoA and AoA

After doing so these documents are to be sent to the RoC for the verification process. After the documents get approved by the authority, a print out must be taken out so that you can get them validated. Then you can attach these documents along with all other documents necessary for the registration of your business.

With all of the above documents attached, you can now apply for the registration of your company by submitting the documents to the RoC. You have to register your company in the state where you will be performing your business. Then you will be provided with a certificate of Incorporation from the RoC which is the legal Certificate that declares the business to be legal and to be your own. This means that your business is registered and you can simply start conducting your business.

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What after Registration?

After the successful registration of your new Business, there is another additional step that you must do before starting your business. You must apply for a GST number, which when registered will complete the whole process of your company’s registration.

This must have given you the basic idea of how to register your business in the smoothest way possible. Though there might be some extra procedures involved, depending on your location and the type of business you want to run, it is always better to get started as soon as you can.

Conclusion

Registering a business in India is not that complicated as it may feel. You just need to have some knowledge before getting down on the platform. The procedures set by the government for a successful registration is a quick and sorted process which makes it easy for a new company to start and run without much complications. After you are done with registering your business in India, it is now time to make it prominent and successful. There is one small piece of advice that you may need before you start your business venture is that no matter how challenging and exhausting the market makes you feel if you can make it better for the customers, you will surely succeed in your business. Keep your hopes high and your visions clear.

FAQs for Registering your business in India

How to register a foreign company in India?

A foreign company can establish its business in India by filling out the FC-1 e-form. A digital signature of the official representative is needed whiling filling out the form electronically. There is no need to apply and obtain the DIN for the Directors of the foreign company.

What is the objective of small business registration in India?

Regardless of the type of business you want to run, you will always have to register your business officially. The reason being that a certain business transaction must follow specific rules and guidelines for being legal in India. Registering the business declares the company to be yours, secures the name of your company, and gives you the authenticity to take any legal actions whenever necessary.

Can I get a registration number for my business?

On applying for registration you will be given a recognition number for your business. This number will be provided to you once there is complete verification of your documents.

How long does it take to start a business in India?

It normally takes two to three weeks to complete the registration process and you can start your business in India within a short span. After you are provided with a legal recognition certificate for your business, the Indian Director can help you with opening a bank account in the company name.

How to choose a company name?

It is better to search for a name that is simple, easy to pronounce, and is relevant to your business. You can always take help from the internet. The RoC may expect you to follow some naming guidelines while naming your company.

February 7, 2021
Google Removes Rivalry Apps from Google Play Store
It’s pretty obvious how Google got succumbed to Chinese pressure and has removed two rival apps which had posed a challenge to the Chinese apps. Google removes apps from play store because google is playing hard for China. Google deleted 2 apps from the play store: MITRON and REMOVE CHINA APPS.

Google’s been playing hard to rescue social media platforms of China and yet such a mysterious behaviour like that is still not-known.
- Firstly, it deletes millions of negative reviews from Play Store to improve the rating of the TikTok.
- And then, it deletes 2 apps from its play store.
We, as Indians , behave in such naive manner that we have to be the good ones always because this is what Gandhian policies taught us for a long time. And believe me , these are the ethics we eventually behave. The most live example is the short form video app Mitron which shot to fame for its alleged Indian roots amid the backlash against TikTok.

mitron and remove china apps

It was crystal clear that whoever it maybe , even Google didn’t fail to gag for China . Pro-Chinese economy wins with a clean background and left no grey area because at the end of the day it’s only black and white.

Mitron goes Down-The-Hill

Google’s arbitrary regulation of Android apps has yet again come to the fore as Play Store seems to have remove it from the app list. ‘Mitron’ – the popular alternative for TikTok, which was developed by a Pakistan-based software development company Qboxus and later purchased by an Indian student.

The app was taken down as it was repetitively offering the same content and experience that is already being provided by TikTok. Google claimed in a saying” We don’t allow apps that merely provide the same experience as other apps already on Google Play Store. Apps should provide value to users through the creation of unique content or services.

As the tension between India and China mounted on the border within the army troops, online campaigns urging people to uninstall Chinese apps also gathered momentum. Mitron app turned out to be best alternative to TikTok and millions of rushed towards it. . The app went on to 5 million downloads on Android in a few weeks in May. Despite its huge success and significant number of user base, it had bugs and did not have a robust privacy policy.

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Based on a report, it was found that Mitron app was first developed by a Lahore-based company named Qboxus. The Pakistan-based company had created an app called TicTac, similar to TikTok. Later, the app was later rebranded in India as ‘Mitron’ whose source code was purchased from a website called CodeCanyon.

According to Irfan Sheikh – the founder of Qboxus, claimed that an IIT Roorkee student, Shivank Aggarwal purchased the source code from them and did not make significant changes to the original app. Mitron has no customisations and is a direct copy of TikTok clone app called TicTac so Sheikh said it’s not appropriate. The QBoxus team has claimed that the TicTac app was actually created by them before putting up the source code of the app on sale.

It seems that developers were in a hurry to rush the Mitron app to the market, they neglected the fact to make any amends. They thought to make it a show-bust but remorsefully it didn’t land properly as it was expected.

It is to be noted that the Mitron application had a rating of 4.8 on Google Play Store with 5 millions of download. It’s funny how Google confirmed the removal of the Mitron app stating that it doesn’t comply with Google’s privacy policies.

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‘Remove China Apps’ Got Removed

Another application ‘Remove China Apps’, which had gained popularity in India in recent weeks has also been removed from the Google Play Store. The app allowed users to detect and easily delete apps developed by Chinese firms.

More than one million people in India had installed the application on their phone to delete Chinese apps present on their smart phone. The app was developed by Jaipur based Indian firm OneTouch AppLabs, which eventually gained popularity in the country at a time when there was rising anti-China aggression among nationalists due to ongoing tension between two countries at LAC( Line of Actual Control).

When the app bags around 5 millions of users, Google intervened on Tuesday to remove the app from its Play Store. The developer of the app announced on Twitter that their app has been suspended from Play store. The firm are not aware of why Google removed the app from Play Store. They announced that If a user has already downloaded the ‘Remove China Apps’ application on their phone it will still work for you, but new downloads cannot be made.

Google has not specified the exact reason as to why the app was delisted from its app store. However, it is likely to have removed the app owing to the rising security and privacy concerns, Indian Express reported.

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It was crystal clear that whoever it maybe , even Google didn’t fail to gag for China . Pro-Chinese economy wins with a clean background and left no grey area because at the end of the day it’s only black and white.
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