Many leaders acknowledge that business transformation is needed to effect meaningful change and drive their organisation forward. Implementing a strategy to execute this effectively is the first thing that is required to ensure it runs smoothly, with KPIs introduced and measured throughout. However, whilst strategy is pivotal in the process, it is essential that this is not rolled out at the expense of the most important aspects of your business – the people, and therefore, the culture. Intersection of people and work is where the magic happens in every organisation.

Publication : Entrepreneur

Date : August 29, 2019

Ikea is said to open a two floor store in the R City Mall in Mumbai, The Economic Times India has learnt. Its sources speak of a five year lease with the possibility to extend for five more years. Analysts consider the plans to be a logical step after the opening of pop-up stores and smaller city centre stores. It is possible that the Swedish giant chooses this path also to test the ground for its Indian expansion, as real estate in the areas it is drawn to (like the capital New Delhi) is getting ever more expensive.

Publication : Retail Deal

Date: August 28, 2019

The Ministry of Electronics and Information Technology (MeitY) is likely to reject the push by the Department for Promotion of Industry and Internal Trade (DPIIT) to include ecommerce data in the proposed Personal Data Protection (PDP) Bill as this will be covered separately. “MeitY received a communication from DPIIT over a week back simply proposing that we also consider the issue of data localisation of ecommerce data generated in the country,” a senior government official told ET. “However, clarifications on the PDP draft are currently underway and ecommerce data pertains to community data, which will be tackled separately, later.”

Publication : The Economic Times

Date : August 29, 2019

One of the big questions that startups face as they begin to scale is whether they should promote their own employees up to new roles or hire laterally. How should they hire these leaders? What traits should they look for? How should they manage the inevitable tensions between the newcomers and the home-grown rock stars? How does this impact the culture of the company?Hiring and assimilating laterals is a key success factor for a startup to scale smoothly. Typically, a startup begins to refresh talent after the product-market fit has been established and the founders see an opportunity to scale.

Publication : Mint

Date : August 29, 2019

The easier norms for local sourcing by global single-brand retailers Peter Betzel, CEO, IKEA India, tells Asmita Dey could see it sourcing much more than merely textiles. IKea is aiming to reach 100 million Indian customers in the coming three years with a multi-channel approach, Betzel said. Excerpts:KEA has been sourcing from India for close to 35 years and we welcome the relaxation of local sourcing norms for single-brand retailers. The government’s efforts to enhance ease of doing business for single-brand retailers is encouraging. We have ambitious and optimistic plans to work with affordability and offer everyday low prices for the many people in India.

Publication : Financial Express

Date : August 30, 2019

In this protectionist era, instead of giving Indian investors an advantage for investing in India, our tax laws have handicapped Indian investors in their own country! The 2019 Budget saw the introduction of a 37% surcharge on incomes above Rs 5 crore earned in India; the fine print saw this surcharge being applied to trusts as well as individuals. Many foreign and domestic institutional investors are incorporated as trusts since it gives them the greatest flexibility to manage their investments.  This surprise surcharge caused panic in the markets and blood on the street.

Publication : Financial Express

Date : August 30, 2019

The beleaguered Indian economy is finally making a sensible bargain with the rest of the world: “Take our billion-plus customers, give us jobs.” Under a new foreign direct investment policy announced by Prime Minister Narendra Modi’s government Wednesday, India is undertaking its biggest liberalization of single-brand retail in seven years. One major concession: Contentious local sourcing requirements will need to be met as an average for the first five-year period, not annually. That’s a big help to Apple Inc., which will no longer have to struggle with a 30% local procurement norm to open its long-awaited own store in India.

Publication : The Economic Times

Date : August 29, 2019

Home-grown brands and private labels such as Fabindia and UrbanLadder will now be able to easily raise foreign funds for their ventures with the government allowing 100% foreign direct investment (FDI) in contract manufacturing. These companies rely on third-party outsourcing and and the move comes as a breather for them. Earlier, contract manufacturing was a debatable issue but the move to cover them under the overarching norms on manufacturing has brought them on a par with manufacturers.

Publication : The Economic Times

Date : August 30, 2019

India will be one of the major international markets to drive Amazon’s international sales, generating gross $32 billion by 2023, as per a report by RBC Capital Markets. Amazon India is expected to have a market share of 35% in e-commerce by 2023, up from 30% at the end of 2018. Among the international markets of Brazil, Mexico, Turkey and Australia, India would have the highest contribution to Amazon’s online sales. It is the largest factor among the ‘big five’ countries mentioned in the note.In fact, the report—authored by veteran technology analyst Mark Mahaney

Publication : ET Retail

Date : August 29, 2019