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Apr 27, 2015

Understand Business Principles for Success

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Understand Business Principles for Success
Business principles play major role in defining your success. Entrepreneurs should have sound knowledge about principles to run business successfully. In other words, one must understand the core principles of business and reflect those in practice.

Doing business with proper management is an art - that majority of the entrepreneurs fail to put into action.Once you have started without required ground work, then the venture might land you in hurdles. Not only that, this would lead to a complicated situation, where hardly do any undo button would work for you.

While doing business one must learn the basic principles of business. In the arena of small business, entrepreneurs of concerned unit are the sole performers. And, they should possess sound knowledge about the nature of the business and their target customers.

Understanding business is the core when it comes to making a venture successful. Most us do feel that success would come to us in due course of time, but that is not the complete truth or fact. When you started a business, it requires basic and  core principles, without those it can be successful in all aspects. A perfect foundation is required for business and to reach market - target audience.

In order to know the business principles, one must not get into b-schools rather they need to have proper plan for their venture - they should fix a time frame to achieve success or goal setting. Experts say "doing business is everybody's cup of tea", that says one can achieve success with proper dedication and planning. Moreover, one need to follow basic principles to achieve success. 
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Apr 26, 2015

Greater Houston Partnership inks MoU with Indo-American Chamber of Commerce

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Greater Houston Partnership inks MoU with Indo-American Chamber of Commerce
The Greater Houston Partnership (the Partnership) joined Indo-American Chamber of Commerce (IACC) Secretary General Ranjana Khanna at the PHD House in New Delhi to sign a Memorandum of Understanding (MOU) to facilitate the exchange of information and promote partnerships between the greater Houston, Texas region and India. The meeting concludes a one-week trade and investment mission by Houston delegates to Mumbai and Delhi.

As the primary vehicle for economic development in the greater Houston region, the Partnership led the mission alongside Mayor Annise Parker, which also included Houston business leaders in energy, aviation and engineering, as well as international trade and foreign investment. The Houston delegates included representatives from the IACC of Greater Houston (IACCGH); the Port of Houston Authority; and Houston-based businesses – Isani Consultants L.P., KBR, Universal Weather and Aviation, Gunda Corporation LLC, The Asset Management Consultants, Strategic Infrastructure, Emediscript Inc./Vishal Consultancy, Telco Intercontinental Corp. and Geotest Engineering, Inc.

“The timing of a Houston business delegation traveling to India aligns well with that country’s efforts to open trade and investment opportunities with the U.S. and to establish greater economic ties between the two nations,” said Bob Pertierra, Senior Vice President of Economic Development, GHP. “As the fourth largest city in America, Houston offers a diversified and dynamic economy; a port that is the leader in foreign tonnage; and growth industries that positively mirror India’s sectors including an energy industry that leads the world.”

IACCGH President Ashok Garg added, “Recent estimates indicate that the Indian GDP will grow at a rate of eight to nine percent in the coming years. This makes it an ideal place for businesses to grow, especially those that already have operations in India.”

“I want to thank the Greater Houston Partnership and the Indo-American Chamber of Commerce for their help in putting this trade mission together,” said Mayor Parker. “We will continue to reap the benefits of their hard work well into the future as the relationships initiated this week develop further. We accomplished our goal of strengthening the already strong ties that exist between Houston and India.”

IACCGH Founding Secretary and Executive Director Jagdip Ahluwalia also thanked Consul General of India to Houston Parvathaneni Harish for arranging a series of meaningful meetings for the delegation.

The Houston visit to Mumbai included a briefing by the U.S. Consulate General, followed by meetings with the mayor of Mumbai and key business leaders in energy and engineering. The Houston delegates also presented on investment opportunities to members of the IACC, Asia Society and World Trade Center in Mumbai.

In New Delhi since Thursday, the Houston delegation has met with several high-level officials, including the ministers of Civil Aviation and Petroleum and Natural Gas. Houston has earned the title “Energy Capital of the World” because of its large concentration of oil, gas and renewable energy companies. Meanwhile, the Houston Airport System is the fifth busiest gateway for U.S.-Indian air cargo trade.

The New Delhi program, which also included an “Invest in Houston” seminar and meetings with U.S. Ambassador Richard Verma and other key officials, concludes today. The delegation will meet this morning at the IACC Delhi offices to sign the MOU on trade and investment and hold an open discussion about opportunities in energy, medical, engineering and construction.

Bobby Singh, principal at Isani Consultants L.P. said in regard to the mission, "Houston is a diverse, immigrant friendly city where Indo-Americans like myself share in the city's success and we have a mayor who recognizes the importance of nurturing those international ties.”

Houston and India share extensive business, trade and cultural ties. Houston, ranked the most diverse city in the United States, is home to over 100,000 people of Indian-origin, and has more than 700 companies that do business with India. Houston serves as headquarters to as many as 26 Fortune 500 companies and home to the Texas Medical Center – the world’s largest.

Trade between Houston and India has more than quadrupled since 2004 and totaled $4.7 billion in 2014. The Houston/Galveston Customs District ranks as India’s third largest U.S. gateway for international trade by value. India is sixth among Houston’s Asian trading partners and 16th among Houston’s trading partners worldwide.

For more information on business and trade opportunities in Houston, visit www.houston.org.
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Apr 24, 2015

ICSI issues Secretarial Standards approved by the Central Government

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ICSI issues Secretarial Standards approved by the Central Government
New Delhi, 24 April 2015: Section 118(10) of the Companies Act, 2013 mandates companies to observe Secretarial  Standards with respect to general and Board Meetings specified as such by the Institute of Company Secretaries of India. Secretarial Standards apply to all companies. One Person Companies are excluded.

The Ministry of Corporate Affairs has accorded its approval to the Secretarial Standards on Meetings of the Board of Directors (SS-1) and General Meetings (SS-2) specified by the Institute of Company Secretaries of India (ICSI).

The Institute of Company Secretaries of India today formally launched the Secretarial Standards at New Delhi today at the hands of Hon’ble Justice Shri Vibhu Bhakhru, Senior Judge, Delhi High Court.

While addressing the august gathering, Shri Bakhru, congratulated ICSI as pioneer and only institution to have issued Secretarial Standardsin the world so far. He said that Secretarial Standards issued by ICSI is a tool in furtherance of the Secretarial Standards would benefit the industry and the regulators and would help repose more confidence in the institutional investors about the adoption of robust board processes and systems in companies.

Hon’ble Justice Sh. Dilip Raosaheb Deshmukh, Chairman Company Law Board graced the occasion as the guest of honour. He said that, Itwould definitely result in better corporate accountability and disclosures leading to better value enhancement to stakeholders including shareholder, regulators and international investors.

Shri M.M. Juneja from the Ministry of Corporate Affairs said that in the Secretarial Standards  standard practices are articulated, and comprehensively available at one place, adherence to same by the corporates is greatly eased, the stakeholders are clear of what they should expect and what their rights are. The Secretarial Standards would help in ease of doing business, improved governance, confidence building in minds of investors, improved compliance level, ultimately leading to flow of capital in India and achieving the government’s objective of make in India

CS Atul H Mehta, President, ICSI expressed his gratitude to the Ministry of Corporate Affairs for according   its approval under section 118(10) of the Companies Act, 2013 to the Secretarial Standards (SS) namely,  SS:1 Secretarial Standard on Meetings of Board of Directors and SS:2 Secretarial Standard on General Meetings submitted by the Institute of Company Secretaries of India and said that it is a historical moment for the Institute, since, The Institute of Company Secretaries of India is first institution to issue SECRETARIAL STANDARDS anywhere in the world and that will be effective July 1, 2015 around 8 lakh companies in India  will  have to comply with these Secretarial Standards to be fully compliant under Companies Act 2013.

Secretarial Standards will create enormous confidence in minds of investors particularly fund managers and overseas investors as these investors are very much concerned about good governance practices and sound procedures.  Consequently, this will lead to more flow of capital into India, new projects, more modernization and expansion.

CS Pavan K Vijay, Past President, ICSI and Chairman of the Secretarial Standards Board  informed that The Secretarial Standards are formulated by the Secretarial Standards Board constituted by the Council of the Institute. It comprises experienced members of the CS profession, the representatives of regulatory bodies such as the Ministry of Corporate Affairs, Securities and Exchange Board of India, Reserve Bank of India, Representatives from Industry Associations and chambers such as CII, FICCI, ASSOCHAM as well as the nominees of sister professional bodies, the Institute of Chartered Accountants of India and the Institute of Cost Accountants of India.The mandate of the Companies Act, 2013 with regard to the Secretarial Standards can be attributed to the fact that the Standards have sufficiently evolved as these are being voluntarily followed by followed companies.

CS Mamta Binani Vice-President, ICSI, while talking about the stakeholders’expectations on the governance issues such as transparency disclosure, timely dissemination of information, uniformity in practices etc., said that Secretarial Standards would act as one of the benchmark in stakeholders’assessment of companies.

CS Vineet Chaudhary, Council member, The ICSI  and Chairman of the Corporate Laws and Governance Committee welcomed the Chief Guest, Guest of Honour and others.  
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Apr 23, 2015

US India Business Council Delegation express Commitment to Indian Market

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The U.S.-India Business Council (USIBC) has concluded its Pharmaceutical & Biologics Executive Mission to Hyderabad and New Delhi, India.  The delegation expressed its commitment to the Indian market; called for further dialogue with the government on issues related to pricing, intellectual property, and clinical trials; and explored partnership strategies for expanding greater access to healthcare and developing an innovation ecosystem in India.  USIBC’s Executive Mission was led by Justin McCarthy, Senior Vice President for Global Public Policy at Pfizer, and included senior representatives from Abbott, Actavis, Baxalta, Hospira, Johnson & Johnson, Merck, Mylan, and PhRMA.

On Monday April 20, the delegation met with top officials from both the Andhra Pradesh and Telangana Governments in Hyderabad. The delegation discussed investment opportunities in both states and identified the policy and regulatory conditions conducive to attracting investment in the life sciences sector.  Although no investment commitments were made by the Council's member companies, USIBC and its membership remains committed to partnering at both the center and state levels to explore opportunities for growth.

In Delhi on April 21 and 22, the delegation met with the Ministry of Health, Ministry of Finance, Department of Industrial Policy and Promotion (DIPP), Department of Commerce, Department of Biotechnology, and the office of the Drugs Controller General of India.  The delegation participated in an interactive roundtable discussion on Innovation & Intellectual Property Rights: A discussion on policies, practices, and opportunities for U.S.-India Business Relations organized jointly by USIBC and the Indian Institute of Corporate Affairs (IICA) and sponsored by Trilegal, a leading full service law firm in India.   The delegation also joined briefings with U.S. Embassy officials.

“As an industry, we look forward to partnering with the Government of India at both the state and central levels,” said Justin McCarthy, leader of the USIBC delegation.  “We are encouraged by the positive signals we received on policy and regulatory issues that are critical to furthering growth of the industry, expanding healthcare access, and developing an innovation ecosystem in India.”

Formed in 1975 at the request of the U.S. and Indian governments, the U.S.-India Business Council (USIBC) is the premier business advocacy organization advancing U.S.-India commercial ties. Today, USIBC is the largest bilateral trade association in the United States, with liaison presence in New York, Silicon Valley, and New Delhi, comprised of 300 of the top-tier U.S. and Indian companies. The Chairman of USIBC is Ajay Banga, CEO and President, MasterCard Worldwide.
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Kirloskar Oil Engines Ltd honored with IMS Certification

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Kirloskar Oil Engines Ltd honored with IMS Certification
Kirloskar Oil Engines Limited (KOEL), India’s leading manufacturer of diesel engines, agricultural pump sets and generating sets has been awarded with the coveted Integrated Management Systems (IMS) Certification from ABS Quality Evaluations. This certification by the American certifying body is a sequel to KOEL demonstrating very high level of conformance to the three International Management Systems, namely Quality Management Systems (ISO 9001:2008), Environment Management Systems (ISO 14001:2004), and Occupational Health and Safety Management Systems (OHAS 18001:2007) - all seamlessly collated together as ONE Integrated Management System.

This initiative brings in sharper focus on customer delight through quality improvement with optimum conservation of resources like power, water, fuel and wood.

The IMS certificate handing-over ceremony was organized at KOEL’s world class manufacturing facility at Kagal in Kolhapur on April 20, 2015. The certificate was presented to Mr R R Deshpande, Executive Director, KOEL, by Mr Brian Sanders, Certification Manager from ABS Quality Evaluations USA in the presence of Mr Ravindranath Bhandurge, Head, ABS QE India.

Speaking on this occasion, Mr R R Deshpande highlighted KOEL’s policy of adhering to the highest level of standards in every aspect of pursuing business objectives towards achieving excellence. He emphasized on the need for continuous improvement through systematic approach so that the Company can remain competitive in the domestic and overseas markets. The IMS certification is an endorsement of KOEL’s commitment towards Quality, Safety in workplace and Environment preservation.
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Apr 19, 2015

Markets This Week – Sensex loses 1.51% and Nifty down 1.99%

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Profit booking coupled with lower than expected corporate earnings pulled down the Indian stock Markets. International events like war in Yemen and mounting concerns regarding Greece debt also dented market sentiments this week.

This Week ended on 19 April, the BSE 30-Share barometer resumed higher at 28,955.13 points from the weekend’s close of 28,879.39 points and moved in a range of 29,094.61 points and 28,403.76 points before ending at 28,442.10 points, logging a loss of 437.28 points or 1.51 percent. In the previous week, it had shot up by 1,402.74 points or 5.17 per cent.

The NSE Nifty also moved widely between a high of 8,844.80 points and low of 8,596.70 points before settling the week at 8,606 points, exhibiting steep loss of 173.35 points or 1.99 per cent.
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Apr 15, 2015

Time to Change Our Policies to help Farmers: Anuja Kapur

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Time to change our policies to help Farmers: Anuja Kapur
In all over the world our country is known for agricultural dominating country. But the condition of farmers in India is as bad as it can be. As unseasonal rain has broke the back of farmers. In this season the farmers are facing the toughest time of their life and the worst part is that they are facing it alone as there is no one to support them or give them actual compensation which can really help them to cover their loss.

Recently our P.M Narendra Modi came forward to help the farmers but the amount government is giving to the farmers who have lost their crops in the unseasonal rain is not justify to their losses. Media is daily publishing the misery of the farmers but no one is still come up to help them.

Due to all this unseasonal rain we have lost most part of the crops specially the wheat. The farmers are in trouble and committing suicide in order to their crops failure. Yesterday, we celebrated “Baisakhi” a festival we celebrate for our crop but this time around the charm of the festival was soaked by the misery of the farmers. On the eve of “Baisakhi” famous Criminal Psychologist and Social Activist Mrs. Anuja Kapur said, “The slogan of “Jai Jawaan, Jai Kisan” is not enough, we need better insurance policies that are rational and sustainable as business models.

The current set of insurance policies under the National Agriculture Insurance Scheme (NAIS), Modified NAIS, and the Weather-Based Insurance Scheme (WBIS) have failed miserably to protect our farmers. The crop insurance premiums are very high in our country .Every state should come forward to help farmers without any differences among each other. Farmers are very crucial part of our economy therefore we should work for their betterment.”
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Apr 12, 2015

This Week BSE Sensex gain 2.91%; Nifty rises 2.26 %

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This Week BSE Sensex gain 2.91%; Nifty rises 2.26 %
Equity market in India gained significantly snapping previous week’s loss this week ended April 10.BSE Sensex gained 619 points or 2.19 per cent and NSE Nifty rose 194.1 points or 2.26 per cent this week. On Friday, BSE Sensex opened at 28,889.27 points and ended at 28,879.38 points, down 5.83 points or 0.02 per cent.

The stock markets rallied following positive sentiments – Moody’s view on Indian Economy, RBI’s observation on the growth rate and the growth in the IIP for the month of February. The agencies view on Indian economy lifted the sentiments of the investors those witnessed choppy market trading last week. The industrial output data for the month of February rose by 5 per cent, which could be main tool to gauge the health of economy. Keeping view on the growth in industrial output, the market became more bullying this week. 

Experts believe that the stock markets will be bullying next week.
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Apr 10, 2015

Vistara launches services to Pune

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Vistara launches services to Pune
At 6.45 pm today, Vistara took its inaugural flight from New Delhi to Pune. With the addition of Pune in Vistara’s route network, customers can now travel from Delhi to seven destinations- Pune, Mumbai, Ahmedabad, Goa, Hyderabad, Guwahati&Bagdogra and vice versa.The launch of the daily service between Delhi and Pune follows requests from the airport, trade, business community and consumers alike, inviting Vistarato operate on this route. Pune, a thriving commercial hub,has recently been ranked among the highest in the overall quality of life across categories of political, economic and social environment as well as housing and medical provisions.

Speaking on this occasion, Mr Phee Teik Yeoh, CEO, Vistara said: “Pune has some of the well-developed conglomerates present and is one of the major modern cities in India. For Vistara, such destinations offer immense potential as their robust infrastructure and good quality of life ultimately attract more investment, trade and travel. With addition of Pune on its network, Vistara’sfootprint in India continues to grow at a rapid pace with newer destinations to be announced later this year. We are confident that the travelers between Pune and Delhi will welcome the opportunity to enjoy the quintessential Vistara experience.We have received enthusiastic response from our customers when we launched flights to Goa, Hyderabad and recently to Guwahati and Bagdogra. This clearly indicatesa resounding endorsement of Vistara’sunique value proposition.”

Vistara’s A320 aircraft deployed on the route has a capacity of 148 seats and are configured with 16 Business Class seats, 36 Premium Economy seats and 96 Economy seats, which is 20 percent less, compared to many of the single aisle aircraft operators in order to provide greater comfort and personal space to its customers. Vistara’s Premium Economy is first of its kind in domestic skies to offer enhanced comfort and personalized experience at a competitive price.

By the end of this calendar year, Vistara’s total fleet size will grow to nine aircraft.Vistara’s customers can look forward to more destinations and exciting enhancements to its product and services offerings.
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Apr 9, 2015

Khushi organizes Marathon over Autism Awareness, 800 participated

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Khushi organizes Marathon over Autism Awareness, 800 participated
Every year, April is seen as the World Autism Awareness Month and to respect that, Khushi, A Pediatric therapy center located in Mumbai held Cause-a-thon a special 7-kilometer and 1-kilometre Marathon at Taj Lands End on 5th April as a part of their Autism Awareness Campaign.

Initiated by an NGO, Khushi Pediatric therapy centre started Cause-a-thon in 2013. Celebrities like Shaan, Nawaz Modi Singhania and NGO like Being Human has extended their support to the cause. Bank of India and Striders also came together to support this cause. Mrs India 2015, Priyanka Goyal conducted the warm up before the race for all runners while Shaan gave the flag off to the run and the yester year actress Anita Raj gave away the prizes.

Unlike earlier years, this year the kids with Autism and other children with special needs conducted the event. The kids had taken up the responsibility of escorting guests and conducted the event through compering and giving away medals to the winners and refreshments to all participants.

According to Khushi founder Reena Singh: Cause-a-thon is just about appreciating the strengths of kids with Autism while accepting their differences without being judgmental about Autism or any developmental disability. It is about sensitizing the society so that they accept Autism and become more aware about it.

Cause-a-thon, is a free event for special children, It had over 325 participants in 2013 and about 505 runners in 2014 and this year they had around 800 registrations. Khushi mainly work with children with Autism and other disorders occurring with autism, eg - Autism and Celebral Palsy, Autism and Mental Retardation etc.
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