General Affairs
Delhi High Court Seeks Response From Education Ministry Over St Stephen's Constitution
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NEW DELHI: The Delhi High Court on Wednesday sought response from the Ministry of Human Resource Development and University Grants Commission to a plea against the move by St Stephen's College governing body to amend its constitution for greater control of Church of North India over the institution.
A bench of Justice Rajiv Shakdher also issued notice to the Delhi University, St Stephen's College, its Governing Body, Principal Valson Thampu, Chairman and Vice Chairman of the college on a plea challenging the November 30 decision of the governing body.
"The matter needs consideration. Notice will be issued to all the respondents (Eight)," the court said, adding that all of them will file their replies before April 1.
The court also made it clear that from here onwards, if any decision is taken by the governing body, it will be the subject to the final outcome of the writ petition pending for consideration.
The court was hearing a petition filed by 21 teachers of the college, who have in their plea alleged that amending of St Stephens' constitution would result in "completely altering its basic structure and character without the consent of the Delhi University (DU)".
They, through their counsel Sunil Mathew, claimed that such a step would lead to "jeopardizing the very status of the college as an affiliated and recognized institution".
"Respondents 4 to 6 (Principal, Chairman and Vice Chairman of St Stephens) have mischievously sought to amend the constitution of the college thereby increasing the control of the Church of North India over the college and thereby giving controlling interest to Respondent 4 (Valson Thampu) after his retirement in February 2016," the petition said.
The counsel for the institution opposed the plea, saying the petition was premature and that there was no violation on its part.
The petitioner, however, alleged that "amendment process is tainted by a malicious objective of securing control of the college to persons such as Respondents 5 to 6 (Chairman of St Stephen's, Warris Massih and Vice Chairman of St Stephen's Alwan Massih) who themselves are currently illegally on the governing body and aims to cover up their illegal memberships and functioning in respect of the college."
The teachers have sought quashing and setting aside of the November 30 decision of the governing body.
NEW DELHI: The Delhi High Court on Wednesday sought response from the Ministry of Human Resource Development and University Grants Commission to a plea against the move by St Stephen's College governing body to amend its constitution for greater control of Church of North India over the institution.A bench of Justice Rajiv Shakdher also issued notice to the Delhi University, St Stephen's College, its Governing Body, Principal Valson Thampu, Chairman and Vice Chairman of the college on a plea challenging the November 30 decision of the governing body.
"The matter needs consideration. Notice will be issued to all the respondents (Eight)," the court said, adding that all of them will file their replies before April 1.
The court also made it clear that from here onwards, if any decision is taken by the governing body, it will be the subject to the final outcome of the writ petition pending for consideration.
They, through their counsel Sunil Mathew, claimed that such a step would lead to "jeopardizing the very status of the college as an affiliated and recognized institution".
"Respondents 4 to 6 (Principal, Chairman and Vice Chairman of St Stephens) have mischievously sought to amend the constitution of the college thereby increasing the control of the Church of North India over the college and thereby giving controlling interest to Respondent 4 (Valson Thampu) after his retirement in February 2016," the petition said.
The counsel for the institution opposed the plea, saying the petition was premature and that there was no violation on its part.
The petitioner, however, alleged that "amendment process is tainted by a malicious objective of securing control of the college to persons such as Respondents 5 to 6 (Chairman of St Stephen's, Warris Massih and Vice Chairman of St Stephen's Alwan Massih) who themselves are currently illegally on the governing body and aims to cover up their illegal memberships and functioning in respect of the college."
The teachers have sought quashing and setting aside of the November 30 decision of the governing body.
Parliament Passes Bill To Amend Atomic Energy Act
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NEW DELHI: State-run Nuclear Power Corporation of India Limited (NPCIL) can now collaborate with other Public Sector Undertakings (PSUs) in the nuclear field, with Parliament today passing a bill in this regard after government allayed fears that the step will allow FDI into the sector or enable participation of a private firm in atomic power production.
The Atomic Energy Amendment Bill 2015, that was passed by Lok Sabha on December 14, got approval from the Rajya Sabha on the last day of the session without any discussion, evoking protests from some Opposition parties including Left.
The law seeks to amend the 1962 Atomic Energy Act to change the definition of "government company" in the Act with a view to expand its scope by including such joint venture companies as may be formed between NPCIL and other PSUs, according to the statement of object and reasons.
At present, only two PSUs --NPCIL and Bhartiya Nabhikiya Vidyut Nigam Limited (BHAVINI), which are under the administrative control of Department of Atomic Energy, operate nuclear power plants in the country.
Minister of State for PMO Jitendra Singh, who holds the portfolio of atomic energy, clarified that the Joint Venture is for public sector companies and not private sector ones.
Jairam Ramesh (Congress) wanted to know whether private companies can also be permitted under the joint venture.
The Bill was was introduced in Lok Sabha on December 7 and proposes to to amend the Atomic Energy Act, 1962 that empowers the central government to produce, develop, control, and use atomic energy.
While under the Act, a government company that is allowed to produce atomic energy is one in which at least 51 per cent of the paid-up share capital is held by the central government. Paid-up share capital is the capital received by a company from the issue of shares.
The amendments expand this definition to include companies where the whole of the paid up share capital is held by one or more government company and whose articles of association empower the central government to constitute its Board of Directors.
This provision will allow for the formation of joint ventures between Nuclear Power Corporation of India Limited and other government companies.
Under the Act, a license is required for acquisition, production, use, export and import of any plant designed for the production and development of atomic energy or research.
The Bill makes consequential amendments to state that such license will only be granted to entities such as a government company or a department of central government.
NEW DELHI: State-run Nuclear Power Corporation of India Limited (NPCIL) can now collaborate with other Public Sector Undertakings (PSUs) in the nuclear field, with Parliament today passing a bill in this regard after government allayed fears that the step will allow FDI into the sector or enable participation of a private firm in atomic power production.The Atomic Energy Amendment Bill 2015, that was passed by Lok Sabha on December 14, got approval from the Rajya Sabha on the last day of the session without any discussion, evoking protests from some Opposition parties including Left.
The law seeks to amend the 1962 Atomic Energy Act to change the definition of "government company" in the Act with a view to expand its scope by including such joint venture companies as may be formed between NPCIL and other PSUs, according to the statement of object and reasons.
At present, only two PSUs --NPCIL and Bhartiya Nabhikiya Vidyut Nigam Limited (BHAVINI), which are under the administrative control of Department of Atomic Energy, operate nuclear power plants in the country.
Minister of State for PMO Jitendra Singh, who holds the portfolio of atomic energy, clarified that the Joint Venture is for public sector companies and not private sector ones.
Jairam Ramesh (Congress) wanted to know whether private companies can also be permitted under the joint venture.
While under the Act, a government company that is allowed to produce atomic energy is one in which at least 51 per cent of the paid-up share capital is held by the central government. Paid-up share capital is the capital received by a company from the issue of shares.
The amendments expand this definition to include companies where the whole of the paid up share capital is held by one or more government company and whose articles of association empower the central government to constitute its Board of Directors.
This provision will allow for the formation of joint ventures between Nuclear Power Corporation of India Limited and other government companies.
Under the Act, a license is required for acquisition, production, use, export and import of any plant designed for the production and development of atomic energy or research.
The Bill makes consequential amendments to state that such license will only be granted to entities such as a government company or a department of central government.
Rich Tributes Paid To Former PM PV Narasimha Rao On Death Anniversary
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MACHILIPATNAM, ANDHRA PRADESH: A bronze statue of former Prime Minister P V Narasimha Rao was unveiled in Machilipatnam today and floral tributes were paid to him on the occasion of his 12th death anniversary as leaders recalled the economic reforms initiated by him.
Prakala Prabhakara Rao, Advisor of Andhra Pradesh Government, unveiled the statue. Later Parakala, Excise Minister K Ravindra and other leaders paid floral tributes to the late Prime Minister.
Speaking on the occasion, Parkala said Narasimha Rao is the pride of Telugu people and he continues to be a source of inspiration for all of us.
He said the former Prime Minister (1991-2004) laid the foundation for the economic reforms that spurred the technological revolution now sweeping the country.
Narasimha Rao was a statesman who commanded respect of leaders from across the political spectrum and was an inspiration for all persons in public life, Parkala said.
Mr Ravindra said "we remember him as a wonderful scholar with very rich political experience, a reformer and an educationist, conversant in 15 languages."
He recalled his contribution to bringing in revolutionary changes in the Indian economy.
MACHILIPATNAM, ANDHRA PRADESH: A bronze statue of former Prime Minister P V Narasimha Rao was unveiled in Machilipatnam today and floral tributes were paid to him on the occasion of his 12th death anniversary as leaders recalled the economic reforms initiated by him.Prakala Prabhakara Rao, Advisor of Andhra Pradesh Government, unveiled the statue. Later Parakala, Excise Minister K Ravindra and other leaders paid floral tributes to the late Prime Minister.
Speaking on the occasion, Parkala said Narasimha Rao is the pride of Telugu people and he continues to be a source of inspiration for all of us.
He said the former Prime Minister (1991-2004) laid the foundation for the economic reforms that spurred the technological revolution now sweeping the country.
Narasimha Rao was a statesman who commanded respect of leaders from across the political spectrum and was an inspiration for all persons in public life, Parkala said.
Mr Ravindra said "we remember him as a wonderful scholar with very rich political experience, a reformer and an educationist, conversant in 15 languages."
He recalled his contribution to bringing in revolutionary changes in the Indian economy.
50 Chinese Cities Issue Heavy Smog Alert
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BEIJING: China's pollution woes today worsened as 50 cities issued air pollution alerts, including the five on first-ever red alerts, the most serious level, for heavily polluted smog.
Roughly 50 cities in northern and eastern China have issued air pollution alerts in the most recent bout of smog, state-run Xinhua news agency reported.
This included five cities which are on red alert for hazardous smog.
Tianjin and Eastern Shandong Province issued its first red alert in four cities after warning that the density of PM 2.5, the smallest and deadliest form of airborne particulate matter would exceed 400 micrograms per cubic meter for more than 24 hours.
China has a four-tier warning system, with red as the most severe, followed by orange, yellow and blue.
The alert takes effect at 8 am tomorrow, limiting vehicles on the roads while banning fireworks and outdoor barbecues.
While all construction sites will be closed, Beijing will have to grapple with the foul air till the weekend.
People have been told to reduce outdoor activity and schools are expected to suspend classes.
A blue alert covering the whole province of Anhui, where five cities have had air quality index (AQI) readings over 200 since Tuesday, has also been issued.
Another 36 cities and counties in the province have issued their own yellow alerts as the smog is forecast to linger for another two days.
Cities in central China's Hubei Province are also affected by the polluted air mass spreading from the north with the pollution not expected to disperse before the weekend, the provincial weather bureau said.
Hebei, home to six of China's ten "most polluted" cities in November, issued its red alert yesterday.
Tianjin saw its first red alert the same day even as the Beijing alert was lifted.
State-run CCTV reported red smog in Nanjing city which caused concern among local people.
Officials, however, said the red colour was caused by sunlight, the report said.
After four days of red alert Beijing lowered it today with a warning by officials that the smog will persist till the weekend.
Schools opened today but the children were asked remain in class rooms while the restrictions car number plates have been lifted.
But the readings of PM 2.5 of the city lowered to 455 from yesterday's 500 in the US Embassy pollution monitor here. This is the second time Beijing issued red alert after the first ever one on December 6.
Guo Yingchun, spokesperson of the neighbouring provincial meteorological department, said all the province's 11 cities will roll out strict measures including limitations on the number of vehicles on the roads.
Roughly 50 cities in northern and eastern China have issued air pollution alerts in the most recent bout of smog, state-run Xinhua news agency reported.
This included five cities which are on red alert for hazardous smog.
Tianjin and Eastern Shandong Province issued its first red alert in four cities after warning that the density of PM 2.5, the smallest and deadliest form of airborne particulate matter would exceed 400 micrograms per cubic meter for more than 24 hours.
China has a four-tier warning system, with red as the most severe, followed by orange, yellow and blue.
The alert takes effect at 8 am tomorrow, limiting vehicles on the roads while banning fireworks and outdoor barbecues.
While all construction sites will be closed, Beijing will have to grapple with the foul air till the weekend.
People have been told to reduce outdoor activity and schools are expected to suspend classes.
A blue alert covering the whole province of Anhui, where five cities have had air quality index (AQI) readings over 200 since Tuesday, has also been issued.
Another 36 cities and counties in the province have issued their own yellow alerts as the smog is forecast to linger for another two days.
Hebei, home to six of China's ten "most polluted" cities in November, issued its red alert yesterday.
Tianjin saw its first red alert the same day even as the Beijing alert was lifted.
State-run CCTV reported red smog in Nanjing city which caused concern among local people.
Officials, however, said the red colour was caused by sunlight, the report said.
After four days of red alert Beijing lowered it today with a warning by officials that the smog will persist till the weekend.
Schools opened today but the children were asked remain in class rooms while the restrictions car number plates have been lifted.
But the readings of PM 2.5 of the city lowered to 455 from yesterday's 500 in the US Embassy pollution monitor here. This is the second time Beijing issued red alert after the first ever one on December 6.
Guo Yingchun, spokesperson of the neighbouring provincial meteorological department, said all the province's 11 cities will roll out strict measures including limitations on the number of vehicles on the roads.
Donald Trump Laps Republican Field In Latest 2016 Poll
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WASHINGTON, UNITED STATES: American billionaire Donald Trump, the dominant Republican no one can stop talking about heading into the 2016 presidential election, is leaving his rivals far behind in the polls.
The provocative real estate magnate and political neophyte remains at the center of campaign firestorms, roiling the Republican establishment and leading the GOP pack as it gears up for the post-New-Year gallop to Iowa and the first voting in the nominations process on February 1.
Trump's campaign trail bombast -- including extraordinary comments, among them a vulgar attack on Democratic frontrunner Hillary Clinton that stunned many observers -- appears to have done him little if any harm in the polls as he solidifies the frontrunner status he has maintained since late July.
A new poll released Wednesday showed him with double the support of his nearest competitor.
The national CNN/ORC poll of Republican and Republican-leaning registered voters has Trump leading with 39 per cent support -- more than twice that of Senator Ted Cruz on 18 per cent, a two-point gain since the companies' last poll in November.
Senator Marco Rubio and retired neurosurgeon Ben Carson have both slipped slightly and sit at 10 percent, while New Jersey Governor Chris Christie came in fifth at five percent. None of the other eight Republican candidates is above four per cent.
The poll, with a margin of error of 4.5 percentage points, was conducted following the latest Republican primary debate, in which Trump and Cruz were seen as performing well.
The latest figures put Trump at 35.1 per cent support in the much followed RealClearPolitics.com polling average, his highest mark yet.
Cruz is at 18.1 per cent in the average, solidifying his second place position over Rubio.
Trump has issued a series of controversial -- some would say outrageous -- statements since launching his campaign June 16, beginning with his accusation that Mexico was sending "rapists" and other criminals into the United States.
The latest controversies over Trump talk involve his December 7 call to bar Muslims from entering the United States, and verbal attacks Monday on Clinton.
By being losing to Obama in the battled for the 2008 Democratic nomination, Trump said Clinton had been "schlonged" -- a vulgar neologism derived from a Yiddish term for penis.
'Inflammatory rhetoric'
Clinton on Tuesday returned fire.
"I really deplore the tone of his campaign and the inflammatory rhetoric that he is using to divide people," Clinton told the Des Moines Register in an interview.
His crude description of her election loss was "not the first time he's demonstrated a penchant for sexism," she added.
"Trump really is appalling," conservative commentator William Kristol said Wednesday on CNN.
The national trend nevertheless continues to tilt The Donald's way, to the consternation of rivals including Jeb Bush, who lambasted Trump as a "jerk" at the weekend.
Bush, a former Florida governor, was the race's early frontrunner, only to slip into the lower tier.
On Wednesday he told Fox News that Trump's hostile language was "going to make it harder for the party's nominee, whoever that's going to be, to win. We want to win the election."
With Trump surging, Republican candidates have begun to bristle in the face of a barrage of media questions about the unlikely frontrunner.
"I am not going to respond to everything that comes out of Donald Trump's mouth," Christie seethed to CNN on Tuesday.
Republican voters are siding with Trump on some key issues, however.
Four out of five Democrats oppose his proposed Muslim ban, according to a Quinnipiac poll released Wednesday, while 41 per cent of Republicans back it.
Seventy-four percent of Democrats said they would accept Syrian refugees in the US, while 82 percent of Republicans would not, the poll showed.
WASHINGTON, UNITED STATES: American billionaire Donald Trump, the dominant Republican no one can stop talking about heading into the 2016 presidential election, is leaving his rivals far behind in the polls.The provocative real estate magnate and political neophyte remains at the center of campaign firestorms, roiling the Republican establishment and leading the GOP pack as it gears up for the post-New-Year gallop to Iowa and the first voting in the nominations process on February 1.
Trump's campaign trail bombast -- including extraordinary comments, among them a vulgar attack on Democratic frontrunner Hillary Clinton that stunned many observers -- appears to have done him little if any harm in the polls as he solidifies the frontrunner status he has maintained since late July.
A new poll released Wednesday showed him with double the support of his nearest competitor.
The national CNN/ORC poll of Republican and Republican-leaning registered voters has Trump leading with 39 per cent support -- more than twice that of Senator Ted Cruz on 18 per cent, a two-point gain since the companies' last poll in November.
Senator Marco Rubio and retired neurosurgeon Ben Carson have both slipped slightly and sit at 10 percent, while New Jersey Governor Chris Christie came in fifth at five percent. None of the other eight Republican candidates is above four per cent.
The latest figures put Trump at 35.1 per cent support in the much followed RealClearPolitics.com polling average, his highest mark yet.
Cruz is at 18.1 per cent in the average, solidifying his second place position over Rubio.
Trump has issued a series of controversial -- some would say outrageous -- statements since launching his campaign June 16, beginning with his accusation that Mexico was sending "rapists" and other criminals into the United States.
The latest controversies over Trump talk involve his December 7 call to bar Muslims from entering the United States, and verbal attacks Monday on Clinton.
By being losing to Obama in the battled for the 2008 Democratic nomination, Trump said Clinton had been "schlonged" -- a vulgar neologism derived from a Yiddish term for penis.
'Inflammatory rhetoric'
Clinton on Tuesday returned fire.
"I really deplore the tone of his campaign and the inflammatory rhetoric that he is using to divide people," Clinton told the Des Moines Register in an interview.
His crude description of her election loss was "not the first time he's demonstrated a penchant for sexism," she added.
"Trump really is appalling," conservative commentator William Kristol said Wednesday on CNN.
The national trend nevertheless continues to tilt The Donald's way, to the consternation of rivals including Jeb Bush, who lambasted Trump as a "jerk" at the weekend.
Bush, a former Florida governor, was the race's early frontrunner, only to slip into the lower tier.
On Wednesday he told Fox News that Trump's hostile language was "going to make it harder for the party's nominee, whoever that's going to be, to win. We want to win the election."
With Trump surging, Republican candidates have begun to bristle in the face of a barrage of media questions about the unlikely frontrunner.
"I am not going to respond to everything that comes out of Donald Trump's mouth," Christie seethed to CNN on Tuesday.
Republican voters are siding with Trump on some key issues, however.
Four out of five Democrats oppose his proposed Muslim ban, according to a Quinnipiac poll released Wednesday, while 41 per cent of Republicans back it.
Seventy-four percent of Democrats said they would accept Syrian refugees in the US, while 82 percent of Republicans would not, the poll showed.
Business Affairs
Sensex jumps 260 pts; Nifty ends above 7,850; GAIL top gainer
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The S&P BSE Sensex ended 260 points up to hit their highest level in nearly three weeks in trade on Wednesday, while broader CNX Nifty topped its key support level of 7,850.
Domestic markets rose as foreign selling pressure remained absent ahead of year-end holidays, and following overnight gains on Wall Street after data showed the US economy grew at a healthy clip in the third quarter.
The 30-share index ended at 25,850.30, up 259.65 points, while broad-based 50-share index was quoting 7,865.95, up 79.85 points.
Market breadth remained extremely positive with 28 of the 30 Sensex components ending the day in green.
GAIL stock was the best performer on both the benchmark indices and added nearly 6 per cent.
Foreign investors, who have been net buyers so far this year, have sold about $689 million worth of equities this month.
With little less than 24 per cent of ownership of shares, their absence has reduced selling pressure on domestic markets, according to analysts.
"Generally FIIs have been sellers, their absence has given the market reason to be steady to high," said Deven Choksey, managing director at KR Choksey Securities.
"Only few stocks are giving the market some kind of rally or thrust, but fundamentals have not changed".
Investors also took cues from current account deficit (CAD) data released on Tuesday, which dropped to 1.6 per cent of GDP in the July-September quarter from 2.2 per cent reported for the same period a year ago.
Stock of Sun Pharma gained over 3 per cent after the USFDA posted contents of the warning letter which cited there was no data integrity issues. Also, it did not raise any reference to quality.
Meanwhile, market debutants Alkem Laboratories and Dr Lal PathLabs opened 31 per cent higher each. The stock of Alkem ended flat, while that of Dr Lal gained 14.94 per cent.
Among Asian markets, China's Shanghai Composite ended 0.43 per cent down, while Hong Kong's Hang Seng index added 0.96 per cent. Japanese markets were closed today to observe the emperor's birthday.
Overnight, US stocks ended higher. The Dow Jones rose 165.65 points, or 0.96 per cent, the S&P 500 gained 17.82 points, or 0.88 per cent, and the Nasdaq Composite added 32.19 points, or 0.65 per cent.
The S&P BSE Sensex ended 260 points up to hit their highest level in nearly three weeks in trade on Wednesday, while broader CNX Nifty topped its key support level of 7,850.
Domestic markets rose as foreign selling pressure remained absent ahead of year-end holidays, and following overnight gains on Wall Street after data showed the US economy grew at a healthy clip in the third quarter.
The 30-share index ended at 25,850.30, up 259.65 points, while broad-based 50-share index was quoting 7,865.95, up 79.85 points.
Market breadth remained extremely positive with 28 of the 30 Sensex components ending the day in green.
GAIL stock was the best performer on both the benchmark indices and added nearly 6 per cent.
Foreign investors, who have been net buyers so far this year, have sold about $689 million worth of equities this month.
With little less than 24 per cent of ownership of shares, their absence has reduced selling pressure on domestic markets, according to analysts.
"Generally FIIs have been sellers, their absence has given the market reason to be steady to high," said Deven Choksey, managing director at KR Choksey Securities.
"Only few stocks are giving the market some kind of rally or thrust, but fundamentals have not changed".
Investors also took cues from current account deficit (CAD) data released on Tuesday, which dropped to 1.6 per cent of GDP in the July-September quarter from 2.2 per cent reported for the same period a year ago.
Stock of Sun Pharma gained over 3 per cent after the USFDA posted contents of the warning letter which cited there was no data integrity issues. Also, it did not raise any reference to quality.
Meanwhile, market debutants Alkem Laboratories and Dr Lal PathLabs opened 31 per cent higher each. The stock of Alkem ended flat, while that of Dr Lal gained 14.94 per cent.
Among Asian markets, China's Shanghai Composite ended 0.43 per cent down, while Hong Kong's Hang Seng index added 0.96 per cent. Japanese markets were closed today to observe the emperor's birthday.
Overnight, US stocks ended higher. The Dow Jones rose 165.65 points, or 0.96 per cent, the S&P 500 gained 17.82 points, or 0.88 per cent, and the Nasdaq Composite added 32.19 points, or 0.65 per cent.
Wipro to acquire Viteos Group for $130 mn in outsourcing push
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Wipro said it would acquire the US-based Viteos Group for $130 million (nearly Rs 861 crore), a move that will help the country's third-largest IT services firm strengthen its position in the capital markets outsourcing space.
"Wipro has signed a definitive agreement to acquire Viteos Group, a BPaaS provider for the Alternative Investment Management Industry, for a purchase consideration of $130 million," it said in a statement.
Founded in 2003 and headquartered in Somerset, New Jersey, the Viteos Group provides customised straight-through-processing and integrates post-trade operations across every asset class, currency, border or structure for the alternative investment management industry in the US, Europe and Asia.
A leading player in shadow-accounting services, the company offers middle and back-office outsourcing through its over 400 employees.
Viteos' technology-based solutions will bring in non-linear and higher revenue realisation, Wipro said.
The acquisition is subject to customary closing conditions and regulatory approvals and will be completed in the quarter ending March 2016.
"Viteos will retain its identity to leverage its brand in the Buy-Side and expand its offerings into the larger asset management industry with the backing of Wipro's size and presence," it added.
The management team at Viteos will continue with the business and drive the platform-based outsourcing business services, the statement said.
"The IT services industry is moving to an 'as-a-Service' model, and the future of BPS is going to be BPaaS (Business Process as-a-Service). Our strategy is to invest in industry vertical platforms which will provide platform-based services to our clients in transaction/outcome-based pricing models.
Viteos will further our strategy in the capital markets domain," Wipro President and Chief Executive (Finance Solutions) Shaji Farooq said.
"Our search for a global partner who gives Viteos exceptional market reach in expanding our presence while preserving the entrepreneurial characteristics of Viteos culminated with this acquisition by Wipro," said Shankar Iyer, CEO and founder of the Viteos Group.
Wipro said it would acquire the US-based Viteos Group for $130 million (nearly Rs 861 crore), a move that will help the country's third-largest IT services firm strengthen its position in the capital markets outsourcing space.
"Wipro has signed a definitive agreement to acquire Viteos Group, a BPaaS provider for the Alternative Investment Management Industry, for a purchase consideration of $130 million," it said in a statement.
Founded in 2003 and headquartered in Somerset, New Jersey, the Viteos Group provides customised straight-through-processing and integrates post-trade operations across every asset class, currency, border or structure for the alternative investment management industry in the US, Europe and Asia.
A leading player in shadow-accounting services, the company offers middle and back-office outsourcing through its over 400 employees.
Viteos' technology-based solutions will bring in non-linear and higher revenue realisation, Wipro said.
The acquisition is subject to customary closing conditions and regulatory approvals and will be completed in the quarter ending March 2016.
"Viteos will retain its identity to leverage its brand in the Buy-Side and expand its offerings into the larger asset management industry with the backing of Wipro's size and presence," it added.
The management team at Viteos will continue with the business and drive the platform-based outsourcing business services, the statement said.
"The IT services industry is moving to an 'as-a-Service' model, and the future of BPS is going to be BPaaS (Business Process as-a-Service). Our strategy is to invest in industry vertical platforms which will provide platform-based services to our clients in transaction/outcome-based pricing models.
Viteos will further our strategy in the capital markets domain," Wipro President and Chief Executive (Finance Solutions) Shaji Farooq said.
"Our search for a global partner who gives Viteos exceptional market reach in expanding our presence while preserving the entrepreneurial characteristics of Viteos culminated with this acquisition by Wipro," said Shankar Iyer, CEO and founder of the Viteos Group.
29,000 new mobile towers installed to check call drops: Ravi Shankar Prasad
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A total of 29,000 new telecom towers were installed by private telecom operators across the country after government took strong exception to the problem of call drops, Telecom Minister Ravi Shankar Prasad said on Tuesday.
Following a directive by Prime Minister Narendra Modi, the Telecom Ministry told the private telecom operators that strong action will be taken if the problem of call drops is not resolved, he told the Lok Sabha.
"After our clear instruction, private telecom operators have installed 29,000 new mobile towers in the country while 2,200 of them were installed in Delhi.
"While public sector BSNL has installed 4,500 mobile towers in the country, MTNL installed 28 towers in Delhi," Prasad said during Question Hour.
Prasad said the government is constantly monitoring the the call drops situation and regularly telling the telecom operators to take corrective steps to improve it.
"Department of Telecom and TRAI are jointly working to improve the situation. There are shortcomings. I have been telling the telecom operators that you have to take steps.
They are doing. We are constantly monitoring," he said.
The Minister said under Section 29 of the Telecom Regulatory Authority of India (TRAI) Act, the TRAI has been given powers to impose penalty for contravention of its directions, which stipulates that violation of TRAI directions will be punishable with fine which may extend Rs one lakh.
For the second offence, it increases to Rs two lakh and in case of continuing contravention, the additional fine may extend to Rs 2 lakh for every day during which the default continues, he said.
A total of 29,000 new telecom towers were installed by private telecom operators across the country after government took strong exception to the problem of call drops, Telecom Minister Ravi Shankar Prasad said on Tuesday.
Following a directive by Prime Minister Narendra Modi, the Telecom Ministry told the private telecom operators that strong action will be taken if the problem of call drops is not resolved, he told the Lok Sabha.
"After our clear instruction, private telecom operators have installed 29,000 new mobile towers in the country while 2,200 of them were installed in Delhi.
"While public sector BSNL has installed 4,500 mobile towers in the country, MTNL installed 28 towers in Delhi," Prasad said during Question Hour.
Prasad said the government is constantly monitoring the the call drops situation and regularly telling the telecom operators to take corrective steps to improve it.
"Department of Telecom and TRAI are jointly working to improve the situation. There are shortcomings. I have been telling the telecom operators that you have to take steps.
They are doing. We are constantly monitoring," he said.
The Minister said under Section 29 of the Telecom Regulatory Authority of India (TRAI) Act, the TRAI has been given powers to impose penalty for contravention of its directions, which stipulates that violation of TRAI directions will be punishable with fine which may extend Rs one lakh.
For the second offence, it increases to Rs two lakh and in case of continuing contravention, the additional fine may extend to Rs 2 lakh for every day during which the default continues, he said.
EPFO comes of age: Enters stock market
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As a new year beckons, retirement fund body EPFO is gearing for a giant leap in 2016 in terms of the technology usage and for maximising the returns on its over Rs 6 lakh crore corpus.
A key focus area would be to improve the services it offers to nearly six crore subscribers across the country, including by way of providing online PF withdrawal facility as well as easy and real-time access to all its offerings through smartphones.
Expectations are also high that EPFO may revise upward its interest rate, which has remained unchanged at 8.75 per cent for two consecutive financial years beginning 2013-14.
In its bid to maximise the returns, the EPFO also took baby steps to the stock market and began investing a small portion of its corpus in exchange traded funds.
Earlier in March, the Finance Ministry notified an investment pattern for non-government provident funds allowing them to invest a minimum of 5 per cent and a maximum of 15 per cent in the equity or equity related schemes.
Acting swiftly on the government's move, the EPFO trustees adopted the investment pattern within a month despite a strong opposition by the trade unions, but decided to cap its investments in ETFs at five per cent of their incremental deposits in the current fiscal.
With its incremental deposits for the fiscal 2015-16 estimated at Rs 1.2 lakh crore, the EPFO is expected to invest a total amount of about Rs 6,000 crore during the current financial year ending March 31, 2016. Out of this, it had made an investment of Rs 3,174 crore till November 30.
However, the trade unions continue to raise their red flags over stock market investments as the latest performance report on investments in ETFs indicated that the annualised return was only 1.52 per cent on Rs 2,322.10 crore in ETFs during August-October this year.
On services front, EFPO launched a number of new facilities this year including an online helpdesk to provide assistance to the members for tracking their old and inoperative PF accounts.
The helpdesk is aimed at helping them settle the inoperative accounts or get them transferred to their present PF account.
If no contribution is made to a PF account for 36 straight months, its becomes inoperative and EPFO stops crediting interest into these accounts. However, claimants can apply for transfer or final settlement of these accounts.
EPFO also initiated a number of steps to move from an environment of e-governance to m-governance. With a view to facilitate access to services through handheld devices, EPFO has unveiled a mobile app also that can give access to e-passbook and monthly credit among other facilities.
The EPS pensioners are also given access to their pension disbursement details through this app.
Moving a step closer to online settlement of PF withdrawal claims, EPFO has also allowed its subscribers to file their applications directly to the body without present or previous employers' attestation.
As a new year beckons, retirement fund body EPFO is gearing for a giant leap in 2016 in terms of the technology usage and for maximising the returns on its over Rs 6 lakh crore corpus.
A key focus area would be to improve the services it offers to nearly six crore subscribers across the country, including by way of providing online PF withdrawal facility as well as easy and real-time access to all its offerings through smartphones.
Expectations are also high that EPFO may revise upward its interest rate, which has remained unchanged at 8.75 per cent for two consecutive financial years beginning 2013-14.
In its bid to maximise the returns, the EPFO also took baby steps to the stock market and began investing a small portion of its corpus in exchange traded funds.
Earlier in March, the Finance Ministry notified an investment pattern for non-government provident funds allowing them to invest a minimum of 5 per cent and a maximum of 15 per cent in the equity or equity related schemes.
Acting swiftly on the government's move, the EPFO trustees adopted the investment pattern within a month despite a strong opposition by the trade unions, but decided to cap its investments in ETFs at five per cent of their incremental deposits in the current fiscal.
With its incremental deposits for the fiscal 2015-16 estimated at Rs 1.2 lakh crore, the EPFO is expected to invest a total amount of about Rs 6,000 crore during the current financial year ending March 31, 2016. Out of this, it had made an investment of Rs 3,174 crore till November 30.
However, the trade unions continue to raise their red flags over stock market investments as the latest performance report on investments in ETFs indicated that the annualised return was only 1.52 per cent on Rs 2,322.10 crore in ETFs during August-October this year.
On services front, EFPO launched a number of new facilities this year including an online helpdesk to provide assistance to the members for tracking their old and inoperative PF accounts.
The helpdesk is aimed at helping them settle the inoperative accounts or get them transferred to their present PF account.
If no contribution is made to a PF account for 36 straight months, its becomes inoperative and EPFO stops crediting interest into these accounts. However, claimants can apply for transfer or final settlement of these accounts.
EPFO also initiated a number of steps to move from an environment of e-governance to m-governance. With a view to facilitate access to services through handheld devices, EPFO has unveiled a mobile app also that can give access to e-passbook and monthly credit among other facilities.
The EPS pensioners are also given access to their pension disbursement details through this app.
Moving a step closer to online settlement of PF withdrawal claims, EPFO has also allowed its subscribers to file their applications directly to the body without present or previous employers' attestation.
Striking the right balance
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The guffaws echoed for a while, not just from the CEO, but from the others in the room as well. The question that triggered the laughter spasm: "What are your usual work hours?" The response came from the CEO, in pieces: "In today's world, where is the definition of work hours, when you wake up your mails are on, calls are on." Taking a breather, Himanshu Kapania informed that he is not an early morning person, and while he goes for a 30-minute run each morning, his usual workday is from 10 am to 8 pm. "Given a choice." More guffaws.
Kapania, Managing Director of Idea Cellular, India's third biggest telecom operator, is a busy man. And he has kept his company busy, too, racking up subscriber additions, and transforming it from a pure-play voice operator to one with a more balanced portfolio between voice and data. Over the past three years, Idea has built its data capabilities. According to data from the Telecom Regulatory Authority of India or TRAI, the company boasted 16.67 million wireless broadband (which includes phones, dongle and fixed wireless) subscribers at end-June 2015, which was about 10.6 per cent of its subscriber base of 157.81 million then. That, actually, is not bad, considering the overall industry numbers. India had 980.81 million wireless subscribers in June, of which wireless broadband were 93.15 million, which works out to 9.5 per cent. However, Idea's market share in wireless broadband at 17.9 per cent was much lower than its competitors - Airtel's 24.8 per cent and Vodafone's 22.1 per cent in end-June.
BEST CEO TELECOM: IDEA CELLULAR LTD
- INCOME/ 3-YR CAGR: Rs 31,732 crore/ 18 per cent
- OP. PROFIT/ 3-YR CAGR: Rs 9,688 crore/ 31 per cent
- PAT/ 3-YR CAGR: Rs 2,810 crore/ 70 per cent
- AVG MCAP/ 3-YR CAGR: Rs 54,194 crore/ 24 per cent
- AVG MCAP (APR-SEPT 2015)/YOY GROWTH: 19 per cent
- ROE/ ROCE: 15 per cent/ 12.8 per cent
- CASH/DEBT: Rs 1,542 crore/ 25,875 crore
- NET PROFIT MARGIN: 9.00 per cent
Standalone data, net of extraordinary income and expenses
Overall, Idea is the fastest growing cellular operator over the past three years in terms of adding subscribers. In the three years from October 2012 to October 2015, according to data from the Cellular Operators Association of India or COAI, Idea grew its subscriber base 44.6 per cent to 167.29 million, compared to 27.7 per cent growth for market leader Bharti Airtel and 23.7 per cent for the No. 2 operator Vodafone. Today, with a subscriber market share (GSM) of 22.6 per cent, Idea is breathing down the neck of Vodafone, which has 189.48 million subscribers (market share: 25.6 per cent) as of October 2015. Of course, Airtel is way ahead at No. 1 with 237.98 million subscribers and 32.2 per cent market share.
How was Idea's growth achieved? The first component of spectrum was aggressively approached. "In the four auctions since 2010, we have committed Rs 48,000 crore and acquired 235 MHz of spectrum," says Kapania. In the purchase of spectrum (2G, 3G as well as 4G), Kapania has focused sharply on rural markets where the teledensity is today at 48 per cent, compared to 144 per cent for urban areas. "This gives the possibility of about 400 million people joining mobile subscriptions," says Kapania, claiming that in terms of coverage, over 975 million Indians now have the opportunity to buy an Idea connection. He believes that India will become the largest voice market in the world, bigger than China. "That's why we are investing in expanding coverage," he says. "In the past three years, we added 12,000 (2G) sites. Currently, we are present in 375,000 towns and villages."
Kapania's strategy over the past few years has been to continue to strengthen Idea's voice business while building its data capability. "We are transitioning ourselves from pure voice growth to balanced growth between voice and mobile broadband," he says. The reasons are not difficult to seek. "Data has suddenly started taking precedence," says Mayuresh Joshi, Fund Manager, Angel Broking. "Data revenue for Idea is close to 20 per cent and for Bharti about 22 per cent. Four years ago, they were about four to five per cent."
"Everything that is offline - shopping, banking, governance, education, transportation, advertising - all will go online. This will need a platform and telecom will be the platform," says Kapania. The first baby steps in data were taken in 2010 when Idea bought 3G spectrum. "In 2011, media and top telecom operators told us the internet market was primarily going to be in the metros - Delhi, Mumbai, Bangalore, Chennai, Kolkata," he recalls. "We never bought spectrum in any of these five markets. We chose the hinterland and we continue to focus there." Idea's 3G investments were in the markets of Madhya Pradesh, Maharashtra, UP (both West and East), Andhra Pradesh and Kerala. In 2014, the company bought 4G spectrum again in similar markets plus Punjab and Haryana.
However, despite buying 3G spectrum, the company continued to focus largely on voice. It was slow on the uptake of 3G, even as competitors Airtel and Vodafone upped their 3G coverage aggressively. In the past one and a half years, though, Idea has added 20,000 3G sites. "Our (3G) population coverage went up from 100 million subscribers to 275 million subscribers," says Kapania. The company has announced that in the next one and a half years, it will add another 50,000 3G + 4G sites, and increase its population coverage of wireless broadband to 500 million subscribers. Kapania claims that Idea's 3G coverage has been expanded to 13 circles, which covers about 80 per cent of its overall subscriber base, and its 4G spectrum covers 10 circles and 60 per cent of its subscriber base.
Romal Shetty, Partner and Head, Telecom, KPMG in India, says 3G adoption has picked up pace and is being primarily driven by data usage. "But as a country, 2G sites are still being rolled out, so are 3G sites, and now 4G sites are also being added," he says. "In rural areas, for instance, 2G rollout will continue, 3G will grow most in mid-tier towns, and 4G will start in the metros. All three will co-exist for some time."
"We're getting ready for 2018-20, when we believe Indian society will have largely transitioned from the current analog lifestyle to a digital lifestyle," says Kapania. "We're building infrastructure ahead of time, so that we can have balanced growth both in voice and data."
This transformation from being a pure-play voice operator to seeking balanced growth has changed the direction of the company in recent years, from being distribution-led to analytics-led, with investments in IT and processes, introduction of big data and analytics for understanding customer profiles and segmenting customers for types of usage.
"We are gearing up to be able to do digital in a very big way," says Kapania. "So, transitioning from pure offline distribution where length and depth was the focus, to online distribution to be able to sell our SIM cards online." Idea is targeting 20 per cent of its sales online, to be able to move recharge completely online, and to be able to give its existing consumers wide choice of music, movies and high-quality games. Newer talent has been inducted to strengthen its effort to become an analytics and marketing-focused company, and transitioning from a mere telecom to a large internet company. "That's the transition the company is doing," says Kapania. "Massive changes are taking place."
The Big Challenge Ahead
The next big battle for Idea - as indeed for all telecom operators - is 4G, a technology that is expected to give broadband speeds of up to 100 mbps, compared to 8-20 mbps currently. Airtel has already taken the lead, and the imminent entry of Reliance Jio might disrupt the entire market. Reliance is reportedly investing a mammoth Rs 1 lakh crore in its 4G initiative, though it has not yet launched its services. Airtel, on the other hand, launched its first 4G service in Kolkata three years ago, in April 2012, and has recently gone all aggressive, with services being launched in several cities, and with high-decibel advertising campaigns backing its offerings. Reliance Jio is expected to launch 4G by April 2016 and Vodafone by the end of this year. "Jio will be a big game changer for everyone in the industry," says Joshi.
THE BIG PICTURE
India's total broadband subscribers 108.85 million
Wireless broadband subscribers 93.15 million
Vodafone 22.07 million
Bharti Airtel 23.09 million
Idea Cellular 16.67 million
Figures as of June 2015; Wireless broadband includes fixed wireless, dongle and phone;
Source: TRAI
Idea, meanwhile, will launch 4G in the first half of next year, according to Kapania. But he's not worried about being last. "This is a long journey, and who makes the first two steps is not going to be important," he says. Idea had initially announced that it would launch 4G in late 2016-early 2017, because it believed that prices of phones and capital equipment for 4G would take time to fall. But that changed, once China decided to move into 4G on the 1800 MHz spectrum and installed one billion base transceiver stations (BTS), prompting prices to crash faster than Idea expected. So, it revised its plan and will launch in 750 towns by mid-2016.
Kapania expects growth in wireless broadband - 3G and 4G combined - to really pick up pace in about three years from now - from 2018 to 2022. "By 2025, we believe wireless broadband consumers will cross 700-800 million subscribers. By 2022, it will be about 500 million."
Why would it take so much time, given the rapid pace of growth of the internet economy businesses, and the rising sales of smartphones? He offers an interesting explanation. Having observed consumers in stores, he says many consumers buy smartphones for the camera and sound levels. "He's never asking for the internet," says Kapania. Then after using the smartphone to click pictures, the consumer feels the desire to share and starts using apps like WhatsApp and Facebook. And this process is fuelled by peer pressure. "Peer pressure is in the process of happening; it is not as easy as pressing a green button," he says. "That's exactly what happened to the voice business - it is a slow growing process."
As evidence, he points to his own home, where the youngsters created the family WhatsApp group - he joined later. Then the housewives joined the group. This Diwali, his mother, father and mother-in-law also joined the group. "Whether they are welcome is another topic (laughs heartily), but somehow they squeezed themselves in. So, this is the change which is happening, but it has taken four to five years."
The guffaws echoed for a while, not just from the CEO, but from the others in the room as well. The question that triggered the laughter spasm: "What are your usual work hours?" The response came from the CEO, in pieces: "In today's world, where is the definition of work hours, when you wake up your mails are on, calls are on." Taking a breather, Himanshu Kapania informed that he is not an early morning person, and while he goes for a 30-minute run each morning, his usual workday is from 10 am to 8 pm. "Given a choice." More guffaws.
Kapania, Managing Director of Idea Cellular, India's third biggest telecom operator, is a busy man. And he has kept his company busy, too, racking up subscriber additions, and transforming it from a pure-play voice operator to one with a more balanced portfolio between voice and data. Over the past three years, Idea has built its data capabilities. According to data from the Telecom Regulatory Authority of India or TRAI, the company boasted 16.67 million wireless broadband (which includes phones, dongle and fixed wireless) subscribers at end-June 2015, which was about 10.6 per cent of its subscriber base of 157.81 million then. That, actually, is not bad, considering the overall industry numbers. India had 980.81 million wireless subscribers in June, of which wireless broadband were 93.15 million, which works out to 9.5 per cent. However, Idea's market share in wireless broadband at 17.9 per cent was much lower than its competitors - Airtel's 24.8 per cent and Vodafone's 22.1 per cent in end-June.
BEST CEO TELECOM: IDEA CELLULAR LTD
- INCOME/ 3-YR CAGR: Rs 31,732 crore/ 18 per cent
- OP. PROFIT/ 3-YR CAGR: Rs 9,688 crore/ 31 per cent
- PAT/ 3-YR CAGR: Rs 2,810 crore/ 70 per cent
- AVG MCAP/ 3-YR CAGR: Rs 54,194 crore/ 24 per cent
- AVG MCAP (APR-SEPT 2015)/YOY GROWTH: 19 per cent
- ROE/ ROCE: 15 per cent/ 12.8 per cent
- CASH/DEBT: Rs 1,542 crore/ 25,875 crore
- NET PROFIT MARGIN: 9.00 per cent
Overall, Idea is the fastest growing cellular operator over the past three years in terms of adding subscribers. In the three years from October 2012 to October 2015, according to data from the Cellular Operators Association of India or COAI, Idea grew its subscriber base 44.6 per cent to 167.29 million, compared to 27.7 per cent growth for market leader Bharti Airtel and 23.7 per cent for the No. 2 operator Vodafone. Today, with a subscriber market share (GSM) of 22.6 per cent, Idea is breathing down the neck of Vodafone, which has 189.48 million subscribers (market share: 25.6 per cent) as of October 2015. Of course, Airtel is way ahead at No. 1 with 237.98 million subscribers and 32.2 per cent market share.
How was Idea's growth achieved? The first component of spectrum was aggressively approached. "In the four auctions since 2010, we have committed Rs 48,000 crore and acquired 235 MHz of spectrum," says Kapania. In the purchase of spectrum (2G, 3G as well as 4G), Kapania has focused sharply on rural markets where the teledensity is today at 48 per cent, compared to 144 per cent for urban areas. "This gives the possibility of about 400 million people joining mobile subscriptions," says Kapania, claiming that in terms of coverage, over 975 million Indians now have the opportunity to buy an Idea connection. He believes that India will become the largest voice market in the world, bigger than China. "That's why we are investing in expanding coverage," he says. "In the past three years, we added 12,000 (2G) sites. Currently, we are present in 375,000 towns and villages."
Kapania's strategy over the past few years has been to continue to strengthen Idea's voice business while building its data capability. "We are transitioning ourselves from pure voice growth to balanced growth between voice and mobile broadband," he says. The reasons are not difficult to seek. "Data has suddenly started taking precedence," says Mayuresh Joshi, Fund Manager, Angel Broking. "Data revenue for Idea is close to 20 per cent and for Bharti about 22 per cent. Four years ago, they were about four to five per cent."
"Everything that is offline - shopping, banking, governance, education, transportation, advertising - all will go online. This will need a platform and telecom will be the platform," says Kapania. The first baby steps in data were taken in 2010 when Idea bought 3G spectrum. "In 2011, media and top telecom operators told us the internet market was primarily going to be in the metros - Delhi, Mumbai, Bangalore, Chennai, Kolkata," he recalls. "We never bought spectrum in any of these five markets. We chose the hinterland and we continue to focus there." Idea's 3G investments were in the markets of Madhya Pradesh, Maharashtra, UP (both West and East), Andhra Pradesh and Kerala. In 2014, the company bought 4G spectrum again in similar markets plus Punjab and Haryana.
However, despite buying 3G spectrum, the company continued to focus largely on voice. It was slow on the uptake of 3G, even as competitors Airtel and Vodafone upped their 3G coverage aggressively. In the past one and a half years, though, Idea has added 20,000 3G sites. "Our (3G) population coverage went up from 100 million subscribers to 275 million subscribers," says Kapania. The company has announced that in the next one and a half years, it will add another 50,000 3G + 4G sites, and increase its population coverage of wireless broadband to 500 million subscribers. Kapania claims that Idea's 3G coverage has been expanded to 13 circles, which covers about 80 per cent of its overall subscriber base, and its 4G spectrum covers 10 circles and 60 per cent of its subscriber base.
"We're getting ready for 2018-20, when we believe Indian society will have largely transitioned from the current analog lifestyle to a digital lifestyle," says Kapania. "We're building infrastructure ahead of time, so that we can have balanced growth both in voice and data."
This transformation from being a pure-play voice operator to seeking balanced growth has changed the direction of the company in recent years, from being distribution-led to analytics-led, with investments in IT and processes, introduction of big data and analytics for understanding customer profiles and segmenting customers for types of usage.
"We are gearing up to be able to do digital in a very big way," says Kapania. "So, transitioning from pure offline distribution where length and depth was the focus, to online distribution to be able to sell our SIM cards online." Idea is targeting 20 per cent of its sales online, to be able to move recharge completely online, and to be able to give its existing consumers wide choice of music, movies and high-quality games. Newer talent has been inducted to strengthen its effort to become an analytics and marketing-focused company, and transitioning from a mere telecom to a large internet company. "That's the transition the company is doing," says Kapania. "Massive changes are taking place."
The Big Challenge Ahead
The next big battle for Idea - as indeed for all telecom operators - is 4G, a technology that is expected to give broadband speeds of up to 100 mbps, compared to 8-20 mbps currently. Airtel has already taken the lead, and the imminent entry of Reliance Jio might disrupt the entire market. Reliance is reportedly investing a mammoth Rs 1 lakh crore in its 4G initiative, though it has not yet launched its services. Airtel, on the other hand, launched its first 4G service in Kolkata three years ago, in April 2012, and has recently gone all aggressive, with services being launched in several cities, and with high-decibel advertising campaigns backing its offerings. Reliance Jio is expected to launch 4G by April 2016 and Vodafone by the end of this year. "Jio will be a big game changer for everyone in the industry," says Joshi.
THE BIG PICTURE
India's total broadband subscribers 108.85 million
Wireless broadband subscribers 93.15 million
Vodafone 22.07 million
Bharti Airtel 23.09 million
Idea Cellular 16.67 million
Figures as of June 2015; Wireless broadband includes fixed wireless, dongle and phone;
Source: TRAI
Source: TRAI
Idea, meanwhile, will launch 4G in the first half of next year, according to Kapania. But he's not worried about being last. "This is a long journey, and who makes the first two steps is not going to be important," he says. Idea had initially announced that it would launch 4G in late 2016-early 2017, because it believed that prices of phones and capital equipment for 4G would take time to fall. But that changed, once China decided to move into 4G on the 1800 MHz spectrum and installed one billion base transceiver stations (BTS), prompting prices to crash faster than Idea expected. So, it revised its plan and will launch in 750 towns by mid-2016.
Kapania expects growth in wireless broadband - 3G and 4G combined - to really pick up pace in about three years from now - from 2018 to 2022. "By 2025, we believe wireless broadband consumers will cross 700-800 million subscribers. By 2022, it will be about 500 million."
Why would it take so much time, given the rapid pace of growth of the internet economy businesses, and the rising sales of smartphones? He offers an interesting explanation. Having observed consumers in stores, he says many consumers buy smartphones for the camera and sound levels. "He's never asking for the internet," says Kapania. Then after using the smartphone to click pictures, the consumer feels the desire to share and starts using apps like WhatsApp and Facebook. And this process is fuelled by peer pressure. "Peer pressure is in the process of happening; it is not as easy as pressing a green button," he says. "That's exactly what happened to the voice business - it is a slow growing process."
As evidence, he points to his own home, where the youngsters created the family WhatsApp group - he joined later. Then the housewives joined the group. This Diwali, his mother, father and mother-in-law also joined the group. "Whether they are welcome is another topic (laughs heartily), but somehow they squeezed themselves in. So, this is the change which is happening, but it has taken four to five years."
General Awareness
Pia Alonzo Wurtzbach crowned with Miss Universe 2015
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Pia Alonzo Wurtzbach aka Mindanao & Pia Romero, a Filipina-German actress, model and beauty queen has been crowned withMiss Universe 2015.
- Ms. Wurtzbach represented the Philippines in the Miss Universe 2015 held in Las Vegas, Nevada, United States.
Final Tally
Final Results Contestant Miss Universe 2015 Philippines – Pia Alonzo Wurtzbach 1st Runner-up Colombia – Ariadna Gutierrez 2nd Runner-up USA – Olivia Jordan Miss Congeniality Angola – Whitney Shikongo Best National Costume Thailand – Aniporn Chalermburanawong
About Pia Alonzo Wurtzbach
- She is a Culinary Arts graduate from the Center for Culinary Studies.
- She worked as an actress and was managed by ABS-CBN’s theatrical agency called Star Magic.
- TV shows – Teen oriented series K2BU, the concert variety program ASAP, the romance anthology Your Song, the sitcom show Bora, and the drama series Sa Piling Mo
- Films – Kung Ako Na Lang Sana (2003), All My Life (2004), and All About Love (2006).
- At present she is a stylist, makeup artist and beauty writer for Inquirer Lifestyle’s 2bU section.
Awards:
In March 2015, the beauty queen was crowned with Binibining Pilipinas 2015.
In 2013 she was the 1st runner up of Binibining Pilipinas 2013.
About Miss Universe 2015
Established in 1952, Miss Universe is an annual international beauty pageant that is run by the Miss Universe Organization headquartered at New York City, USA.
- Miss Universe 2015 was the 64th Miss Universe pageant.
- This was the first edition of the Miss Universe pageant under the new owners,WME/IMG and is the first aired by Fox and Azteca.
- Pia Alonzo Wurtzbach aka Mindanao & Pia Romero, a Filipina-German actress, model and beauty queen has been crowned withMiss Universe 2015.
- Ms. Wurtzbach represented the Philippines in the Miss Universe 2015 held in Las Vegas, Nevada, United States.
About Pia Alonzo WurtzbachFinal Results Contestant Miss Universe 2015 Philippines – Pia Alonzo Wurtzbach 1st Runner-up Colombia – Ariadna Gutierrez 2nd Runner-up USA – Olivia Jordan Miss Congeniality Angola – Whitney Shikongo Best National Costume Thailand – Aniporn Chalermburanawong
- She is a Culinary Arts graduate from the Center for Culinary Studies.
- She worked as an actress and was managed by ABS-CBN’s theatrical agency called Star Magic.
- TV shows – Teen oriented series K2BU, the concert variety program ASAP, the romance anthology Your Song, the sitcom show Bora, and the drama series Sa Piling Mo
- Films – Kung Ako Na Lang Sana (2003), All My Life (2004), and All About Love (2006).
- At present she is a stylist, makeup artist and beauty writer for Inquirer Lifestyle’s 2bU section.
Awards:
In March 2015, the beauty queen was crowned with Binibining Pilipinas 2015.
In 2013 she was the 1st runner up of Binibining Pilipinas 2013.About Miss Universe 2015
Established in 1952, Miss Universe is an annual international beauty pageant that is run by the Miss Universe Organization headquartered at New York City, USA.- Miss Universe 2015 was the 64th Miss Universe pageant.
- This was the first edition of the Miss Universe pageant under the new owners,WME/IMG and is the first aired by Fox and Azteca.
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