June 2016

Mohammad Anas Wahaj | 14 jun 2016

According to the Asian Development Bank (ADB) report, 'Scaling New Heights: Vizag-Chennai Industrial Corridor, India's First Coastal Corridor' (Authors - Sabyasachi Mitra, Rana Hasan, Manoj Sharma, Hoe Yun Jeong, Manish Sharma, Arindam Guha), the service sector has been a driver of the Indian economy but the country needs to expand its manufacturing base - through initiatives like Make in India and the development of economic corridors - if it hopes to reach the next level of growth. Here are 12 main things to know about Indian economy, manufacturing and 'Make in India' - (1) India is the world's third largest economy. (2) Service sector is main driver of economic growth and contribute substantially to GDP. (3) India major exporter of IT, BPO, & software expertise through skilled workers. (4) Service sector employs less than 1/3rd of labor force. (5) India's manufacturing has lagged. Only 17% of GDP, while Malaysia has 24% and Thailand has 33%. (6) Manufacturing sector lags due to bad infrastructure, complex regulations, limited finance and inadequate supply of skilled workers. (7) Indian government recognizes that to spread benefits of economic growth, manufacturing sector need to be strengthened. (8) India seeks to increase manufacturing's share to GDP to 25% and create 100 million jobs within a decade. (9) Indian government is promoting 'Make in India' initiative and trying to attract global firms for investments through tax incentives and simplified regulations. (10) India is promoting manufacturing through development of economic corridors, routes along which goods and people move. (11) Delhi-Mumbai Industrial Corridor is the India's first and most advanced econoic corridor. (12) In line with 'Make in India', Vizag-Chennai Industrial Corridor is being developed as the first coastal economic corridor. Read on...

ADB.org: Manufacturing and Make in India - 12 Things to Know
Author: NA

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Mohammad Anas Wahaj | 11 jun 2016

Dr. Amantha Imber's new book, 'The Innovation Formula: The 14 Keys for Creating a Culture where Innovation Thrives', provides an authoritative curation of insights into innovation. Dr. Imber is an innovation psychologist and founder of Australian innovation consultancy Inventium. The book draws upon author's experiences, academic journals and research studies on innovation. It begins with an 'innovation culture audit' based on a survey of 28 questions, that will help assess an organisation's readiness and journey on the innovation path. The tips and case studies are classified into four levels or units of analysis: individual, teams, leadership and organization. These levels have a total of 14 key factors of innovation. (1) INDIVIDUAL LEVEL: CHALLENGE [Imagination breakthroughs (GE), Personal development hacks (Inventium)]; AUTONOMY [Design changes (Etsy, Vimeo)]; RECOGNITION [Innovation Awards (Intuit)]. (2) TEAM LEVEL: DEBATE [Voice of Youth (Infosys), Reverse mentoring (GE, Cisco, HP)], SUPPORTIVENESS ['Flat' teams (Mirvac]; COLLABORATION [Experts from other business units (Pfizer)]. (3) LEADER LEVEL: SUPERVISOR SUPPORT [Design thinking (Disney)]; SENIOR LEADER SUPPORT [CEO office hours (FourSquare), Customer Meetups (Etsy)]; RESOURCES [Hack Days (LinkedIn), Innovation Champions (Pfizer), Toolkits (Adobe, Nestle, CBA)]; GOAL CLARITY [Innovation KPIs (Mirvac)]. (4) ORGANIZATION LEVEL: RISK-TAKING [Annual failure report (EWB), Dare To Try awards (Tata, Pfizer)]; COHESION [Buddy Program (Buzz Products)]; PARTICIPATION [Hack Weeks (Etsy)]; PHYSICAL ENVIRONMENT [Central atrium (Circus Oz), Participatory office design (Mirvac)]. Dr. Imber cautions, 'Creating a culture won't happen overnight.' She sums up, 'Innovation is a learned skill.' Read on...

Your Story: The Innovation Formula - 14 tips for business creativity and growth
Author: Madanmohan Rao

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Mohammad Anas Wahaj | 04 jun 2016

The Nikkei Services Business Activity Index, which maps the services sector activity, fell from 53.7 in April to 51.0 in May, pointing to a slight expansion in business activity which has been the weakest since last November. A reading above 50 represents expansion, while one below 50 means contraction. While, the Nikkei India Composite PMI Output Index, which maps both manufacturing and services sectors, fell to a six-month low of 50.9 in May, from 52.8 in April. According to Pollyanna De Lima, economist at Markit, 'Latest PMI (Purchasing Managers Index) numbers raise doubts about the effectiveness of economic and monetary policies. The gloomy growth picture will be a concern to policymakers and will raise the chances of further cuts in interest rates by the Reserve Bank of India (RBI). This would be supported by subdued inflationary pressures, with May data pointing to weaker increases in both costs and charges.' Read on...

The Financial Express: Services sector contracts for 2nd straight month in May
Author: NA

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