Scope of Entrepreneurship Development in India
Scope of Entrepreneurship Development in India
Scope of Entrepreneurship Development in India
INTRODUCTION
India is a very young nation – just over 61 years since independence – setting out
on a path of sustained economic growth, for decades to come.
We already have over a billion fellow Indians. Within the next 20 years, we will
have 400 million people below the age of 35 years – more than the entire
population of the United States! Each person, in this bold new generation, will be
in the prime of his or her life, striving for a better tomorrow – creating, in the
process, new growth opportunities, for budding entrepreneurs!
On the most conservative basis, our domestic consumption, in virtually any sector,
has the potential to at least double, or treble, from current levels – perhaps, just to
catch up with a country like China.
Then, there is the entire global opportunity, across diverse sectors internationally,
the "Made in India" tag is now an increasingly respected brand, valued for quality,
reliability, and competitiveness.
Truly, with economic reforms in the country, and with the virtual removal of all
trade barriers, the world is now our market and our opportunity.
ENTREPRENEURSHIP
Definition
Entrepreneurship is niegther science nor an art . It is the practice. It has a
knowledge base . -- Peter Drucker
Entrepreneurship is the practice of starting new organizations or revitalizing
mature organizations, particularly new businesses generally in response to
identified opportunities.
SCOPE OF ENTREPRENEURSHIP
DEVELOPMENT IN INDIA
In India there is a dearth of quality people in industry, which demands high level of
entrepreneurship development programme through out the country for the growth
of Indian economy.
We have all the requisite technical and knowledge base to take up the
entrepreneurial challenge. The success of Indian entrepreneurs in Silicon Valley is
evident as proof. The only thing that is lacking is confidence and mental
preparation. We are more of a reactive kind of a people. We need to get out of this
and become more proactive. What is more important than the skill and knowledge
base is the courage to take the plunge. Our problem is we do not stretch ourselves.
However, it is appreciative that the current generations of youth do not have hang-
ups about the previous legacy and are willing to experiment. Theses are the people
who will bring about entrepreneurship in India.
At present, there are various organizations at the country level & state level
offering support to entrepreneurs in various ways. The Govt. of India & various
State Govts. have been implementing various schemes & programmes aimed at
nurturing entrepreneurship over last four decades. For example, MCED in
Maharashtra provides systematic training, dissemination of the information & data
regarding all aspects of entrepreneurship & conducting research in
entrepreneurship. Then there are various Govt. sponsored scheme for the budding
entrepreneurs.
CHARACTERISTICS OF AN ENTREPRENEURSHIP
Future Perspective
Entrepreneurship as in the past will determine technical innovations, status of
social institutions and political management systems. On the basis of these factors,
we can expect the future to be a place where basic needs will remain and only the
wants will change. India will overcome the barriers of infrastructure; we will also
visualize a strong manufacturing and agricultural sector.
Entrepreneurs and not managers will be in demand, as only they will be equipped
to find order in chaos. The focus of entrepreneurial energy will shift from
achieving volume sales to fulfill a specific requirement. Governance will become
more transparent and will be willing to accept changes necessary for growth and
development. More autonomy will become the basis of all issues.
The future will see Entrepreneurship as the key driver of economic development
Technological obsolescence will become order of the day and there will be more
space for leisure. New businesses will be credited with providing variety of new
jobs in the economy. New and small business will also develop more than their
share of product and service innovation. At one end we will see the technological
upheavals in quick succession and on the other end there will be social value
systems and cultural issues undergoing slow but dynamic transformations.
In a short span of less than 25 years, and without even the benefit of a formal
education, Dhirubhai Ambani built Reliance, a first generation enterprise, into one
of the world’s 200 most profitable companies!
He started out in life, working as a mere petrol pump attendant in Aden, Yemen.
He had no technical knowledge, of any of the businesses he wished to create in
India.
Products & Brands
The Company expanded into textiles in 1975. Since its initial public offering in
1977, the Company has expanded rapidly and integrated backwards into other
industry sectors, most notably the production of petrochemicals and the refining of
crude oil.
The Company now has operations that span from the exploration and production
of oil and gas to the manufacture of petroleum products, polyester products,
polyester intermediates, plastics, polymer intermediates, chemicals and synthetic
textiles and fabrics.
The Company from time to time seeks to further diversify into other industries. In
January 2006, the Company approved a plan to establish a retail business through a
subsidiary Reliance Retail Limited that will operate, among other things,
supermarkets, convenience stores and specialty stores across India. The Company
approved initial expenditure of US$ 750 million to fund the initial stages of this
plan.
The Company's subsidiary Reliance Jamnagar Infrastructure Limited is currently
establishing infrastructure facilities such as roads and buildings for the proposed
Special Economic Zone (SEZ) at Jamnagar, Gujarat.
The Company's major products and brands, from oil and gas to textiles are tightly
integrated and benefit from synergies across the Company. Central to the
Company's operations is its vertical backward integration strategy; raw materials
such as PTA, MEG, ethylene, propylene and normal paraffin that were previously
imported at a higher cost and subject to import duties are now sourced from within
the Company. This has had a positive effect on the Company's operating margins
and interest costs and decreased the Company's exposure to the cyclicality of
markets and raw material prices. The Company believes that this strategy is also
important in maintaining a domestic market leadership position in its major product
lines and in providing a competitive advantage.
The Company's operations can be classified into four segments namely:
• Petroleum Refining and Marketing business
• Petrochemicals business
• Oil and Gas Exploration & Production business
The Company's refinery at Jamnagar is the third largest refinery at a single
location in the world.
The Company is:
• The world's largest producer of Polyester Fibre and Yarn
o 4th largest producer of Paraxylene (PX) and Purified Terepthalic
Acid (PTA)
• 6th largest producer of Mono Ethylene Glycol (MEG)
• 7th largest producer of Polypropylene (PP)
Milestones
• Starting as a small textile company, Reliance has in its journney crossed
several milestones to become a Fortune 500 company in less than 3 decades.
• Reliance continues to cross newer & bigger
milestones in its quest for what is known as
"Growth is Life".
Growth through Recognition
Reliance has merited a series of awards and
recognitions for excellence for businesses and
operations.
2007-2008
• Shri Mukesh Ambani was awarded the Defence India Excellence Award
2007. The Award is a salute to those who have made the country proud.
• Shri Mukesh Ambani was conferred the Indian of the Year Award by
NDTV. This is India’s most prestigious award for outstanding contribution towards
the betterment of the nation. Shri Mukesh Ambani received the coveted award in
the Business Category.
• Shri Mukesh Ambani was conferred the Outstanding Business Leader of the
Year Award by CNBC TV18.
• Shri Mukesh Ambani was awarded the Business Leadership Award 2007 by
NDTV Profit.
• Shri Mukesh Ambani was conferred the Leadership Award for Global
Vision by the United States India Business Council.
• Shri Mukesh Ambani was elected to be a member of the Honorary Fellows
of The Institution of Chemical Engineers, UK.
• On invitation to Shri Mukesh Ambani, Reliance Industries Limited became a
Council Member of World Business Council for Sustainable Development
(WBCSD) in July 2007. Presently, Shri Mukesh Ambani is the only Indian CEO
who is Council Member of WBCSD.
Exports
Jamnagar Refinery was adjudged the winner of the “Golden Peacock National
Training Award -2007”.
Patalganga Manufacturing Division won the “ASTD (American Society for
Training & Development) Excellence in Practice Award” for innovative practice
titled Learning Function’s role as Business partner: Empowering people with
Knowledge to achieve Business Goals.
Reliance won the CNBC TV-18 instituted Jobstreet.com Jobseekers’ Employer of
Choice Award.
Energy Excellence
Exploration & Production (E&P) Division won “The Infraline Energy Excellence
Awards 2007: Hydrocarbon Columbus Award for Excellence in Petroleum
Exploration”.
Patalganga Manufacturing Division won the First Prize in “Energy Conservation
in State of Maharashtra” organized by Maharashtra Energy Development Agency
(MEDA).
Jamnagar Manufacturing Division won the “Oil & Gas Conservation Award
-2007” from the Centre for High Technology, Ministry of Power & Natural Gas
for the excellent performance in reduction/elimination of steam leaks in the plant.
Jamnagar Manufacturing Division was the recipient of the “Infraline Energy
Award-2007” by Ministry of Power.
Hazira Manufacturing Division won the Government of India Energy
Conservation Award (2007) conferred by the Bureau of energy efficiency and
Ministry of Power.
Hazira Manufacturing Division was adjudged “Excellent Energy Efficient Unit” at
Energy Summit - 2007 by CII.
Vadodara Manufacturing Division received the CII award for “Excellence in
Energy Management - 2007” as energy efficient unit. This division also received
the 2nd prize in “National Energy Conservation Award - 2007” from Bureau of
Energy efficiency, Ministry of Power, Government of India.
The Company’s manufacturing divisions at Vadodara and Hazira were honoured
with CII-National award for excellence in water management - 2007 as water
efficient unit in “Within the fence” category. Additionally, Hazira Manufacturing
Division was honoured as water efficient unit “Beyond the Fence” category.
Quality
For the first time ever, globally, a petrochemical company bagged the “Deming
Prize for Management Quality”. “The Quality Control Award for Operations
Business Unit 2007” was awarded to the Hazira Manufacturing Division for
Outstanding Performance by Practicing Total Quality Management.
“QUALTECH PRIZE 2007”, which recognizes extraordinary results in
improvement and innovation, was won by Hazira Manufacturing Division for its
Small Group Activity Project.
Vadodara Manufacturing Division’s Polypropylene-IV (PP-IV) plant was
conferred the “Spheripol Process Operability Award-2006” for the highest
operability rate with an on stream factor 98.97% by M/s. BASELL, Italy.
Allahabad Manufacturing Division won the “Excellent Category Award” at
National Convention of Quality Circle (NCQC) - 07.
Six-Sigma
Lean Six sigma project on “Reducing retention time of caustic soda lye tankers at
Jamnagar” won the 1st prize in the national level competition held by Indian
Statistical Institute (ISI).
Patalganga Manufacturing Division’s Six Sigma Project on Improve Transfer
Efficiency for Automatic winders in PFY won the 2nd Prize for “Best design for
Six Sigma Project in International Six Sigma Competition” organized by IQPC
(International Quality and Productivity center).
Barabanki Manufacturing Division won the 3rd prize in “All India Six Sigma case
study contest 2008” for the Case study on “Reduction of waste of Plant 2 from
16% to 8%”.
Hoshiarpur Manufacturing Division won the 2nd prize in “Six Sigma competition
at National Level” organized by ISI and Quality Council of India (in
manufacturing category), while Dhenkanal and Barabanki Manufacturing
Divisions won the 3rd prize.
Vadodara Manufacturing Division’s Six Sigma project won the 1st prize as the
“Best Six Sigma project” at National level by CII.
Information Technology
CIO of the Year Award” for the best IT-enabled organization in India for the Year
2007.
Ones to Watch - CIO - USA Award”, for figuring among the top 20 organizations
fostering excellence in IT team.
The Skoch Challenger Award” conferred for the best IT Head (managing the most
IT enabled organization) of the Year 2007.
Best IT Implementation Award”, by PC Quest for Knowledge Management
Systems portal (KMS).
CIO Excellence Award” for Chemical Industry Information Technology Forum for
exemplary Information
Social Initiatives
Hazira Manufacturing Division won the “Golden Peacock Global Award for
Corporate Social Responsibility” - 2008.
OIL & NATURAL GAS CORPORATION
Oil and Natural Gas Corporation Limited (ONGC) (incorporated on June 23,
1993) is an Indian public sector petroleum company. It is a Fortune Global 500
company ranked 335th, and contributes 77% of India's crude oil production and
81% of India's natural gas production. It is the highest profit making corporation in
India. It was set up as a commission on August 14, 1956. Indian government holds
74.14% equity stake in this company.
ONGC is one of Asia's largest and most active companies involved in exploration
and production of oil. It is involved in exploring for and exploiting hydrocarbons in
26 sedimentary basins of India. It produces about 30% of India's crude oil
requirement. It owns and operates more than 11,000 kilometers of pipelines in
India. Until recently (March 2007) it was the largest company in terms of market
cap in India.
This company is awarded as the Best Oil and Gas company in Asia. It is the lone
contributor of about 84% India's oil and gas. This company is not only among the
leading Indian companies but also a leading company of oil and gas. The highest
profit making corporate of India is ONGC. It has 77% share in the crude oil
production of India. The company's main activity is to explore,refine, produce,
market and transport crude oil, natural gas etc.
FOUNDATION
In August 1956, the Oil and Natural Gas Commission was formed. Raised
from mere Directorate status to Commission, it had enhanced powers. In 1959,
these powers were further enhanced by converting the commission into a statutory
body by an act of Indian Parliament.
MILE STONE
Columbia University-ISB joint survey finds ONGC top Indian multinational
by foreign assets
April 20, 2009
ONGC advances to 152nd in Forbes Global 2000 metrics
April 19, 2009
ONGC receives ‘Leading Oil & Gas Corporate of the Year’ Award
April 16, 2009
ONGC receives Dalal Street Investment Journal Award for Highest Profit among
PSUs
March 25, 2009
INTERNATIONAL RANKINGS
ONGC has been ranked at 198 by the Forbes Magazine in their Forbes Global 2000
list for the year 2007 .
ONGC has featured in the 2008 list of Fortune Global 500 companies at position
335, a climb of 34 positions from rank of 369 in 2007.
ONGC is ranked as Asia’s best Oil & Gas company, as per a recent survey
conducted by US-based magazine ‘Global Finance
2nd biggest E&P company (and 1st in terms of profits), as per the Platts Energy
Business Technology (EBT) Survey 2004
Ranks 24th among Global Energy Companies by Market Capitalization in PFC
Energy 50 (December 2004).
Economic Times 500, Business Today 500, Business Baron 500 and Business
Week recognizes ONGC as most valuable Indian corporate, by Market
Capitalization, Net Worth and Net ProfitS.
Global Ranking
ONGC ranks as the Numero Uno Oil & Gas Exploration
& Production (E&P) Company in Asia, as per Platts 250
Global Energy Companies List for the year 2007 based on
assets, revenues, profits and return on invested capital
(ROIC) (September 2007).
ONGC is the only Company from India in the Fortune Magazine’s list of the
World’s Most Admired Companies 2007.
ONGC ranked 335th position as per Fortune Global 500 2008 list; up from 369th
rank last year, based on revenues, profits, assets and shareholder’s equity. ONGC
maintains top rank in terms of profits among seven companies from India in the
list.
The focus of management will be to monetise the assets as well as to assetise the
money.
Cumulatively producing 788.273 Million Metric Tonnes (MMT) of crude and 463
Billion Cubic Meters (BCM) of Natural Gas, from 111 fields.
Type Public (BSE, NSE:SBI) & (LSE: SBID)
Corporate Centre,
Headquarters Madam Cama Road,
Mumbai 400 021 India
Banking
Industry Insurance
Capital Markets and allied industries
State Bank of India already has a branch in Shanghai and plans to open
one up in Tianjin
History
The roots of the State Bank of India rest in the first decade of 19th
century, when the Bank of Calcutta, later renamed the Bank of Bengal,
was established on 2 June 1806. The Bank of Bengal and two other
Presidency banks, namely, the Bank of Bombay (incorporated on 15
April 1840) and the Bank of Madras (incorporated on 1 July 1843). All
three Presidency banks were incorporated as joint stock companies, and
were the result of the royal charters. These three banks received the
exclusive right to issue paper currency in 1861 with the Paper Currency
Act, a right they retained until the formation of the Reserve Bank of
India. The Presidency banks amalgamated on 27 January 1921, and the
reorganized banking entity took as its name Imperial Bank of India. The
Imperial Bank of India continued to remain a joint stock company.
Pursuant to the provisions of the State Bank of India Act (1955), the
Reserve Bank of India, which is India's central bank, acquired a
controlling interest in the Imperial Bank of India. On 30 April 1955 the
Imperial Bank of India became the State Bank of India.
ASSOCIATE BANKS
State Bank of Indore, State Bank of Bikaner & Jaipur, State Bank of
Hyderabad
SBI Canada
INDIAN OIL CORPORATION
Products
Indian Oil's product range covers petrol, diesel, LPG, auto
LPG, aviation turbine fuel, lubricants, naphtha, bitumen,
paraffin, kerosene etc. Xtra Premium branded petrol, Xtra
Mile high speed diesel, Servo lubricants, Indane LPG,
Autogas LPG, Indian Oil Aviation are some of its
prominent brands.
Recently Indian Oil has also introduced a new business
line of supplying LNG(Liquefied natural gas) by the
cryogenic transportation. The branding called "LNG at
Doorstep". Lng headquarters are located in scope
complex, Lodhi Road Delhi
REFINERIES
• Digboi Refinery, in Upper Assam, is India's oldest refinery and was
commissioned in 1901. Originally a part of Assam Oil Company, it became
part of IndianOil in 1981. Its original refining capacity had been 0.5
MMTPA since 1901. Modernisation project of this refinery has been
completed and the refinery now has an increased capacity of 0.65 MMTPA.
• Guwahati Refinery, the first public sector refinery of the country,
was built with Romanian collaboration and was inaugurated by
Late Pt. Jawaharlal Nehru, the first Prime Minister of India, on 1
January 1962.
• Barauni Refinery, in Bihar, was built in collaboration with Russia
and Romania. It was commissioned in 1964 with a capacity of 1 MMTPA. Its
capacity today is 6 MMTPA.
• Gujarat Refinery, at Koyali in Gujarat in Western India, is IndianOil’s
largest refinery. The refinery was commissioned in 1965. It also houses the
first hydrocracking unit of the country. Its present capacity is 13.70
MMTPA.
• Haldia Refinery is the only coastal refinery of the Corporation, situated
136 km downstream of Kolkata in the Purba Medinipur (East Midnapore)
district. It was commissioned in 1975 with a capacity of 2.5 MMTPA, which
has since been increased to 5.8 MMTPA
LOYALTY PROGRAMS
XTRAPOWER Fleet Card Program is aimed at Large Fleet Operators.
Currently it has 1 million customer base. XTRAREWARDS is a recently launched
loyalty program for retail customers where customers can earn reward points on
their purchases.
COMPETITORS
Indian Oil Corporation has two major domestic competitors, Bharat Petroleum
and Hindustan Petroleum. Both are state-controlled, like Indian Oil Corporation.
There are two private competitors, Reliance Petroleum and Essar Oil
Private
Type
BSE & NSE:ICICI, NYSE: IBN
Banking
Industry Insurance
Capital Markets and allied industries
Total assets Rs. 3,997.95 billion (US$ 100 billion) at March 31, 2008.
Website www.icicibank.com
In 2002The Boards of Directors of ICICI and ICICI Bank approved the reverse
merger of ICICI, ICICI Personal Financial Services Limited and ICICI Capital
Services Limited, into ICICI Bank. After receiving all necessary regulatory
approvals, ICICI integrated the group's financing and banking operations, both
wholesale and retail, into a single entity.
Also in 2002, ICICI Bank bought the Shimla and Darjeeling branches that Standard
Chartered Bank had inherited when it acquired Grindlays Bank.
2003 ICICI opened subsidiaries in Canada and the United Kingdom (UK), and in
the UK it established an alliance with Lloyds TSB.
2004 ICICI opens a rep office in Bangladesh to tap the extensive trade between that
country, India and South Africa.
ICICI also received permission from the government of Qatar to open a branch in
Doha.
ICICI Bank Eurasia opened a second branch, this time in St. Petersburg.
2008 The US Federal Reserve permitted ICICI to convert its representative office
in New York into a branch.
4.4 The eligibility limit for coverage under the recently launched (August 2000)
Credit Guarantee Scheme has been revised to Rs.25 lakhs from the present limit of
Rs. 10 lakhs.
4.5 The Department of Economic Affairs will appoint a Task Force to suggest
revitalisation/restructuring of the State Finance Corporations.
4.6 The Nayak Committee's recommendations regarding provision of 20 per cent
of the projected turnover as working capital is being recommended to the financial
institutions and banks.
5.0 Infrastructural Support
5.1 The Integrated Infrastructure Development (IID) Scheme will progressively
cover all areas in the country with 50 per cent reservation for rural areas.
5.2 Regarding upgrading the Industrial Estates, which are languishing, the Ministry
of SSI & ARI will draw up a detailed scheme for the consideration of the Planning
Commission.
5.3 A Plan Scheme for Cluster Development will be drawn up.
5.4 The funds available under the non-lapsable pool for the North-East will be used
for Industrial Infrastructure Development, setting up of incubation centres, for
Cluster Development and for setting up of IIDs in the North-East including Sikkim.
6.0 Technological Support and Quality Improvement
6.1 Capital Subsidy of 12 per cent for investment in technology in select sectors.
An interministerial Committee of Experts will be set up to define the scope of
technology upgradation and sectorial priorities.
6.2 To encourage Total Quality Management, the Scheme of granting Rs.75,000/-
to each unit for opting ISO-9000 Certification will continue for the next six years
i.e. till the end of the 10th plan.
6.3 Setting up of incubation Centres in Sunrise Industries will be supported.
6.4 The TBSE set up by SIDBI will be strengthened so that it functions effectively
as a Technology Bank. It will be properly networked with NSIC, SIDO (SENET
Programme) and APCTT.
6.5 SIDO, SIDBI and NSIC will jointly prepare a Compendium of available
technologies for the R&D institutions in India and abroad and circulate it among
the industry associations for the dissemination of the latest technology related
information.
6.6 Commercial Banks are being requested to develop Schemes to encourage
investment in technology upgradation and harmonise the same with SIDBI.
6.7 One time Capital Grant of 50% will be given to Small Scale Associations
which wish to develop and operate Testing Laboratories, provided they are of
international standard.
7.0 Marketing Support
7.1 SIDO will have a Market Development Assistance (MDA) Programme, similar
to one obtaining in the Ministry of Commerce & Industry. It will be a Plan
Scheme.
7.2 The Vendor Development Programme, Buyer-Seller Meets and Exhibitions
will take place more often and at dispersed locations.
8.0 Streamlining Inspections/Rules and Regulations
8.1 To minimise harassment to Small Scale Sector a Group will be set up to
recommend within 3 months, means of streamlining inspections. This will include
repeal of laws and regulations applicable to the sector that have since become
redundant.
8.2 Self-certification will be progressively encouraged in lieu of inspections, which
should be prescribed under the three following conditions
HIGHLIGHTS OF EXIM POLICY 2002-07
(as amended upto 31.3.2003)
Service Exports
Duty free import facility for service sector having a minimum foreign exchange
earning of Rs.10 lakhs.
The duty free entitlement shall be 10% of the average foreign exchange earned in
the preceding three licensing years. However, for hotels, the same shall be 5% of
the average foreign exchange earned in the preceding three licensing years. This
entitlement can be used for import of office equipments, professional equipments,
spares and consumables. However, imports of agriculture and dairy products shall
not be allowed for imports against the entitlement. The entitlement and the goods
imported against such entitlement shall be non-transferable.
Agro Exports
Corporate sector with proven credential will be encouraged to sponsor Agri Export
Zone for boosting agro exports. The corporates to provide services such as
provision of pre/post harvest treatment and operations, plant protection, processing,
packaging, storage and related R&D.
DEPB rate for selected agro products to factor in the cost of pre-production inputs
such as fertiliser, pesticides and seeds.
Status Holders
Duty-free import entitlement for status holders having incremental growth of more
than 25% in FOB value of exports (in free foreign exchange).
This facility shall however be available to status holders having a minimum export
turnover of Rs.25 crore (in free foreign exchange). The duty free entitlement shall
be 10% of the incremental growth in exports and can be used for import of capital
goods, office equipment and inputs for their own factory or the factory of the
associate/supporting manufacturer/job worker. The entitlement/ goods shall not be
transferable. This facility shall be available on the exports made from 1.4.2003.
Annual Advance Licence facility for status holders to be introduced to enable them
to plan for their imports of raw material and components on an annual basis and
take advantage of bulk purchases.
The Input-Output norms for status holders to be fixed on priority basis within a
period of 60 days.
Status holders in STPI shall be permitted free movement of professional
equipments like laptop/computer.
Hardware/Software
To give a boost to electronic hardware industry, supplies of all 217 ITA-1 items
from EHTP units to DTA shall qualify for fulfillment of export obligation.
To promote growth of exports in embedded software, hardware shall be admissible
for duty free import for testing and development purposes. Hardware upto a value
of US$ 10,000 shall be allowed to be disposed off subject to STPI certification.
100% depreciation to be available over a period of 3 years to computer and
computer peripherals for units in EOU/EHTP/STP/SEZ .
Gem & Jewellery Sector
Diamond & Jewellery Dollar Account for exporters dealing in purchase/sale of
diamonds and diamond studded jewellery.
Nominated agencies to accept payment in dollars for cost of import of precious
metals from EEFC account of exporter.
Gem & Jewellery units in SEZ and EOUs can receive precious metal i.e
Gold/silver/platinum prior to exports or post exports equivalent to value of
jewellery exported. This means that they can bring export proceeds in kind against
the present provision of bringing in cash only.
Export Clusters
Upgradation of infrastructure in existing clusters/industrial locations under the
Department of Industrial Policy & Promotion (DIPP) scheme to increase overall
competitiveness of the export clusters.
Supplemental efforts to be made under the ASIDE scheme and similar schemes of
other Ministries to bridge technology and productivity gaps in identified clusters.
10 such clusters with high growth potential to be reinvigorated based on a
participatory approach.
Rehabilitation of Sick Units
Verna Electronic
City Verna GOA
Ropar-160055.
(PUNJAB)
BPO
BUSINESS OUTSOURSING PROCESSING
DEFINITION
Business process outsourcing (BPO) is a form of
outsourcing that involves the contracting of the
operations and responsibilities of a specific business
functions (or processes) to a third-party service provider.
Originally, this was associated with manufacturing firms,
such as Coca Cola that outsourced large segments of its
supply chain.. In the contemporary context, it is primarily
used to refer to the outsourcing of services.
BPO is typically categorized into back office outsourcing -
which includes internal business functions such as human
resources or finance and accounting, and front office
outsourcing - which includes customer-related services
such as contact center services.
Historical Overview
Rising cost pressures and changing global factors are increasingly affecting the
ability of companies to maintain profitability. Outsourcing of core/non-core
functions to BPO companies based in low-cost countries such as India and China
has emerged as one of the few strategic options available to companies to save
operating costs and retain competitive edge. WNS Global Services is one of India's
leading BPO companies that has, in just a few years, evolved from being a captive
company operating in a single industry segment to a flourishing third-party
provider servicing clients across multiple industries and functions.
WNS was formed in June 1996 as a captive of British Airways, performing back-
office functions for the airline.
In June 2006, WNS became India's first BPO company to list on the New York
stock Exchange (NYSE|WNS)
Starting with 30 employees in 1996, it has scaled up to over 23,000 (July, 2008).
WNS has client sales and delivery centers spread across three continents - North
America (USA), Europe (UK, Romania, Switzerland), and Asia (India, Philippines
and Sri Lanka). It serves over 160 global clients.
WNS offers simple to complex outsourced services - from data processing, voice
and email based customer support, and Finance & Accounting services to high-end
analytics and research. WNS delivers industry-focused services for Travel and
Leisure, Insurance, Banking and Financial Services, Manufacturing, Retail,
Logistics, Healthcare, Pharmaceutical, Utilities and Communications companies.
WNS also provides essential cross-industry functions such as Finance and
Accounting, HR, Legal, Analytics and Research, and Contact Center services.
In 2005, WNS was ranked No.1 BPO in India by NASSCOM, an IT/ITES industry
association.
Annual NASSCOM industry surveys have ranked WNS among the top 2 India
based offshore Business process outsourcing companies in terms of revenue, for
four consecutive years (2004 to 2007)
Other significant awards include the NeoIT Global Survey ranking: Number 1
"Best Performing" BPO Company, and ranked No.3 among top-50 global
outsourcing vendors by the Black Book of Outsourcing.
WNS has also received several domain specific awards and recognition such as
being ranked No.1 Insurance Outsourcer (Global Outsourcing 100), No.2 provider
globally for the Travel industry (Black book of Outsourcing), and 6th largest
Finance and Accounting Outsourcing provider globally.
GENPACT
History
After seeing the benefits of offshoring the Software services to India in 1995, GE
started considering starting a captive outsourcing unit. GE established GECIS (GE
Capital International Services)in 1997 as an outsourcing unit to provide services
from India[3].K.P Singh influenced Jack Welch to choose Gurgaon as a location.
Pramod Bhasin was the India head of G.E Capital and Vinny started GECIS. India
was selected because it was considered to have an educated English speaking
population fit for Call Centers and was also low on labor cost[citation needed].
In December 2004, GE announced that it has sold off its 80% stake in GECIS for
$480 million to two equity companies, Oak Hill Capital Partners and General
Atlantic Partners. Both equity companies bought a 30% stake each and GE still
remained the largest shareholder with 40% stake in the company. The company
retained the short version, GECIS as its name for a year and then was renamed to
Genpact in 2005. Recently, one of Genpact's premier customer, Wachovia, also
bought approximately 7% stake in the company. Therefore, GE's stake in Genpact
is around 33% at present. Genpact was listed on the NYSE on August 2, 2007
under the symbol "G".
Locations
Genpact operates from Asia, Eastern Europe, Northern America, Australia and
most recently Africa .
In India
In USA
Through its wholly owned subsidiary formerly known as Creditek LLC, with
facilities in Wilkes Barre, PA, Nashville, TN, and Parsippany, NJ, Genpact
provides Finance & Accounting solutions Revenue Cycle Management services
that help clients improve working capital by reducing profit leakage in such
processes as order-to-cash, procure-to-pay and forecast-to-fulfill.
Genpact Mortgage Services, formerly MoneyLine Lending Services, provides
private-label, outsourced mortgage origination and fulfillment services and
complex business process outsourcing for financial institutions and other mortgage
lenders from its centers in Irvine, CA, and Salt Lake City, UT.
In Europe
Genpact has operations centers in Budapest, Hungary and in Bucharest, Romania.
The services provided are Finance and Accounting, Customer Services, Software
Solutions, Information Technology and Supply Chain.
In China
Genpact has state of art Service delivery centers at Dalian, Chang Chungand
Shanghai
HCL
HCL Technologies BPO is a subsidiary of IT giant, HCL Technologies. With
nearly 3,000 employees, HCL-Tech BPO has established itself successfully in the
growing BPO industry. It provides services in both customer care (voice & web)
and back office processing. With world-class infrastructure, it has succeeded in
rolling out a business relationship with more than 60 Fortune 500 companies. In
India, it has four delivery centers in Noida (New Delhi NCR), two in Chennai and
one in Bangalore.