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Anil Ambani said Telecom soon to be monopoly

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Anil Ambani said Telecom soon to be monopoly

Reliance Communications CEO Anil Ambani stated that the telecom sector may gradually become a monopoly, having been “creatively destroyed” and thanked elder brother Mukesh for his support and guidance in the hard times. In the 14th Annual general meeting, Ambani mentioned that 20 lakh jobs have been lost due to high competition.

He stated that the ‘creative destruction’ of the telecom sector, occurred due to heavy cost and predatory pricing by some operators, has caused an “oligopolistic structure which was now rapidly moving toward a duopoly, and could finally become a monopoly”, with “rules of mobile telephony” are being changed in the past two years.

The cruel price war and huge debt have forced various telecom operators to close their services. Now, only the private sector firms like Bharti Airtel, Vodafone India, and Idea Cellular are left in the market, among which Idea and Vodafone India are also going to be merged.

RCom is forced to shut down its wireless business last year and is now selling related assets to Reliance Jio to reduce its Rs46,000 crore debt. Ambani stated that his group wants to fully exit the telecom sector in no time. Anil Ambani told stakeholders “It would be most appropriate for me to thank and acknowledge the support (and) guidance extended to RCom and me personally by my brother, Mukesh Bhai Ambani.”

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In 2017, Jio agreed to purchase RCom’s wireless assets by signing an agreement which was announced on father Dhirubhai Ambani’s 85th birth anniversary. RCom has signed a definitive binding contract with Jio for sale of the wireless spectrum, tower, fiber and media convergence mode (MCN) assets which are included in Rs 18,000-crore asset monetization plan to repay its lenders.

Anil Ambani said, “We have decided that we will not proceed in this sector. And many other companies have taken a similar call. This is very much a writing on the wall, the future… As we have moved out of the mobile sector, we will monetize at an appropriate stage in our enterprise business. Reliance Realty will be the engine of growth for the future of this company.”

He stated that the residual firm will serve 35,000 business via enterprises, data centres, undersea cables, and international voice calling verticals and firm will receive half of its revenues from abroad.

Talking about 133-acre Dhirubhai Ambani Knowledge City which is located on the border of the financial capital, there is a great opportunity which RCom’s former corporate headquarters possess and fixed to the overall value creation at the site at Rs 25,000 crore.

RCom owns more than Rs 40,000 crore from a group of 38 lenders along with Chinese banks and was solving the debt via a strategic debt restructuring process.

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Anil Ambani has said with full confidence about a resolution to the asset monetization exercise in the next few months and added that the sale of telecom infrastructure and fibre to Reliance Jio are on the advanced stage of closure.

Reliance Realty is fully owned subsidiary of RCom, which will build the DAKC in Navi Mumbai, he stated. DAKC currently consists of a registered IT and fintech park.

The company consists of three million sq. ft. of built-up space that will be leased out to multi-nationals Ambani stated. He also anticipates revenue generation from the property this year itself.

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IT Industry

Indian IT Industry revenue will reach $167 billion in financial year 2018-19

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Indian IT Industry revenue will reach $167 billion in financial year 2018-19

Indian IT Industry holds a 37% share in the global outsourcing market, hence the revenue of the Industry will reach $167 billion for the financial year 2019, said its apex body Nascomm on Oct 4.

Nasscom Vice Chairman Keshav R. Murugesh said in its strategic summit that, “The Indian IT and Business Process Management industry revenue, including exports, is set to growth nearly 8 percent annually to $167 billion for 2018-19 from $154 billion in fiscal 2017-18.”

By keeping in mind that the industry is capitalizing on newer technologies and re-skilling, Murugesh stated that the back office segment has the largest back office in the world, generating $32.5 billion revenue with 1.2 million employees across the country.

“The aim is on intelligent operations — process and domain expertise including digital technology. Digital is the key area for clients and service providers while companies eye strategic acquisitions,” said Murugesh.

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As digital technologies are helping to transform the businesses, the industry is renovating to come forth as the hub of the digital solutions. Upskilling of digital, obtaining abilities via mergers and acquisitions or partnerships, developing platforms and products and utilizing centers of excellence in new technologies are essential priorities of the firms.

The summit also emphasized how businesses are taking benefits of arising technologies such as process automation, artificial intelligence, digital communications, internet of things, and cognitive computing to increase profitability, cooperation, and competitiveness.

Murugesh added, “The major row over data privacy needs to be addressed and compliance with the European Union’s General Data Protection Regulation is a regulatory requirement.”

Acceptance of technologies such as Blockchain and AI have helped to improve security, speed and operational efficiencies in various projects.

He further said, “The essential requisite for any firm is to understand how digital technology from chatbots to analytics can provide a real-time picture of customer interactions and provide customer satisfaction. The rise of RPA has also brought a host of opportunities to both organizations and individuals.”

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There are more than 17,000 firms in the country, the industry provides a lot of services, having gained skills and abilities to provide services as per the needs of the customer.

In the last 2-3 years, firms have invested in developing abilities around the new technologies, and have built labs to provide digital services to the customers.

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IT Industry

Alibaba planning to bring its new retail concept in India

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Alibaba planning to bring its new retail concept in India

Alibaba is constantly making efforts to expand its cloud business in India, having started its second data centre in the country last week. Also, it is planning to work with players in the retail space to bring its popular ‘new retail’ concept to India. It is also planning to bring the latest technology such as Augmented Reality.

Alibaba Cloud has until now teamed up DLF shopping malls, but it is said to be in talks with various other outlets in India. Vivek Gupta, who is the head of business development for India and Saarc at Alibaba Cloud said, “Retail has been a big focus for us in India.”

He further said, “We are talking to almost every single retail brand in the country. We want to partner with them in their omni-channel journey, as well as strengthen supply chain, offer intelligence on business operations, and enhance customer experience.”

Alibaba’s ‘new retail’ concept developed by the founder Jack Ma, consists of a subjective experience for a customer in a physical store, customer analytics for offline stores to offer matching products, and incorporating online experience at offline stores via customization and deliveries.

“We think these products will meet the needs of the retail industry in the region who are looking to digitize their operations,” Gupta said.

Also Read: Govt plans to mix Methanol with LPG to cut subsidy bill by 30%

As per details by a person, augmented reality (AR) is not something due to which Alibaba is planning to bring the retail space in India. Alibaba has released Taobao Buy as an AR experience for shoppers 2 years back.

“In China, Alibaba owns malls, stores as well as online platforms, and we can bring our experience here,” he said.

Other Stakes

Gupta doesn’t mentioned anything about the futuristic plans of AR. He also doesn’t said anything about Alibaba’s Cloud’s Partnership with Paytm Mall. Alibaba is basically an investor in Paytm Mall and its parent company One97 Communications.

Alibaba has also teamed up with Paytm to release the Paytm AI cloud. “Paytm is a key partner in India. We will be the technology enabler in terms of enabling the Paytm AI Cloud” Gupta stated.

Besides retail, Alibaba Cloud wants to target other sectors in the country for adoption. Lastly, Gupta said, “Internet-enabled business around ecommerce, gaming are big business for us. We have seen strong adoption in media and entertainment, as well as in the manufacturing industry.”

Also Read: Walmart Foundation to invest Rs 180 crore to improve farmers’ livelihood

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IT Industry

HP plans entry of refurbished computers market in India

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HP plans entry of refurbished computers market in India

HP Inc. is probing entry into the refurbished market for personal computers in India as a part of its effort to make affordable products.

Refurbished products are mainly second-hand computer which is repaired to be resold or the products which are made by reusing and recycling various components of various computers.

Sumeer Chandra, MD of HP Inc. India said, “One of the big pillars we are focusing on affordability in India. We know in India we have to give the price value proposition. We are looking at is the refurbished market in India. It is a large market and it is largely unorganized.”

HP is putting great efforts to provide affordable products in India. Lately, the firm released mid-desktops starting at a price range of Rs 19990 for students and educational institutions.

He further added, “We are looking at it and seeing if there is a way we can participate in the market, either by providing our own refurbished product or come up with an alternate product that would compete with the refurbished product.”

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Presently, India has seen a sudden growth in adoption of smartphone with over 350 million users, but PC adoption is still too low. In 2017, less than 10 million PCs were sold in the country. Now, firms are expecting to have 2x more sales.

Chandra hopes that the refurbished market will offer HP an entry into a price concerned segment of the population that has used a smartphone but never used a computer. It will depend on its broad network of support centers in India to repair and resell used PCs.

Chandra also said, “We do believe that if we can provide a quality solution then we can see more customers walk into that, their willingness to try will be much higher and help drive better adoption. It will help acquire new customers, bring in first-time buyers and over time they will buy a new computer.”

As per IDC, HP Inc. has a market share of 32% in PC segment in India as of June 30, 2018. HP’s main purpose is to target first-time-buyers like college students and customers belonging to Tier-II & Tier-III Cities. If more customers will buy computers, then it will also speed up the future of broadband connectivity.

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He stated, “It is a sizeable market. We just started to look at it. For informal players there are decent margins. It is an important market because it is serving a market we are not able to serve – providing products at a lower cost.”

He further said that the discussions are at an early stage and he didn’t have a detailed strategy plan or business models to share publicly.

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