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Azim Premj, the fourth richest person in India, is credited for diversifying <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword>, which was originally a manufacturer of vegetable and refined oils in Amalner, district Jalgaon in Maharashtra. The 69 year old business tycoon took charge at a young age of 21 and since then has been imparting many of the lessons he learnt during his career with India’s youth. BI India puts together 5 life lessons that every budding entrepreneur can learn from him. 
 
 
Know Your Strength 
 While it is important to know one’s weaknesses, it is equally important to know one’s strengths as well. <keyword id="6419840" type="PERSON" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword> has followed this throughout his life and turned what was then a $2 million hydrogenated cooking fat company into the $ 7 billion company, with a presence in 60 countries. At an event organized by AIMA and <keyword id="1589193" type="ORGANIZATION" weightage="20" keywordseo="Bombay-Management-Association">Bombay Management Association</keyword>, he had said that it important to cherish the good in us because it is only our strengths that helps us correct our weaknesses. 
 
Stay Grounded 
 
Every entrepreneur can become successful. But what is important is to not let success go to your head. Or so says Premji. He has always advised young entrepreneurs to remain down to earth because the moment one lets success get into the head, he is already on his way to failure. He has also stressed on the fact that failure is as much a natural phenomenon as success is. So, when you encounter failure, always learn your lessons and move on! 
 
Be Far-Sighted! 
 
The 69 year old philanthropist believes change is inevitable. And so he advises everyone to develop their own early warning system, which sets the alarm and prepares one for the changes ahead. He believes ‘being forewarned is being forearmed’ even when things are going right. 
 
Stick To Your Values! 
 
He has believed that one’s value system forms the core of the business. Premji has time and again emphasized on the need for sticking to values because he firmly believes that success in business eventually but inevitably follows. He has said that once you stand by what you believe and don’t compromise with it under any circumstances; he becomes resilient to stand up to crisis, a quality much adored in entrepreneurs! 
 
Have Faith! 
 
Azim Premji has always believed that it is important to have faith in one’s own ideas, even when everyone around tells you it is impossible. It is this faith that has helped him diversify Wipro and make it an IT giant, not just in the country but across the globe.

5 Life Lessons To Learn From Azim Premji

India is recognized globally for its premier engineering institutes IITs and IIMs. Students from these colleges are behind some of the world's unicorns. They have a history of producing some wonderful innovations for a better world. From efficient electric cars, autos running on hydrogen to machines for the blind - the diverse innovations inside the campus labs are usually aimed at solving the real pain points of people and making their lives easier. Big or small, their ideas have contributed to our society for years. They are out to revolutionize the world and we are simply proud of their stellar innovations. Let's go over some of them: 
 An Electric Race Car that participated in Formula Students competition at Silverstone Circuit, UK 

	
	
	
	
	
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IIT-B students unveiled EVo1 at the Powai Institute campus, it is India’s first electric race car. A team of 60 students designed this car in 2012. It has a top speed of 115 km per hour and weighs about 320 kgs. It has acceleration from 1 to 100 kmph in 5 seconds and from 0 to 60 kmph in 3.5 seconds. It possesses high efficiency DC motors and Lithium polymer batteries. 
 
SmartCane for the easy mobility of those visually-challenged 

	
	
	
	
	
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 A group of passionate technologists, an IIT professor and a social entrepreneur joined hands and came up with an innovative product that aims to alleviate the hardships faced by visually challenged people when it comes to independent mobility.SmartCane™ is an aid for the visually impaired that provides safe and independent mobility which eases their integration into the society. It helps its user diagnose any above-the-knee obstruction from a distance of 3 meters. Frugality and resourcefulness have ensured that this product costs only INR 3,000. 
 
https://www.youtube.com/watch?time_continue=2&amp;v=3etHWJL2izs 
 
An App which Facebook ended up buying 
 Abheek and Soham were inspired to create Tagtile by an incident in a restaurant in San Francisco. The <keyword id="137562" type="PERSON" weightage="20" keywordseo="IITians">IITians</keyword> heard the restaurant owner complain about the websites and apps offering deals. Thus, Tagtile was launched in March 2011 to satisfy the merchants as well as customers with exciting deals and offers. Tagtile won many acclaims and became one of the widely used apps. It also received an award in October 2011 for Best Startup in a competition among 100-odd start-ups in the Silicon Valley.Initially a partnership deal, ended with Facebook buying the year-old product. The deal brought along an offer for Abheek and Soham to join Facebook as product manager and engineer. 
 
Drones which the Indian Army now uses 
	
	
	
	
	
	<div type="image" msid="51807041" hostid="261"></div> <keyword id="1791200" type="UNKNOWN" weightage="20" keywordseo="IIT-Bombay-students">IIT Bombay students</keyword> invented NETRA - an autonomous hovering Unmanned Aerial Vehicle (UAV), a drone that helps the Indian army with rescue operations during natural calamities. 
 
Water rides You can now walk On Mirik Gogri and Ayush Jain, Two IIT-Bombay alumni formed Humming Whale Product Innovations, a company that innovates path-breaking products and solutions. The team came up with a fun idea of walking on water, which they later gamified into a ride. They are now all set to introduce the product at various gaming zones, amusement parks, events and parties. The duo also came up with rewritable T shirts. 
	
	
	
	
	
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 Write and erase. Cool, isn't is? The t-shirt was a hit on online shopping websites and was worn by a movie cast that appeared on popular TV show Bigg Boss. 
 
Hydrogen Autos with less noise and Pollution may take over Delhi roads 
	
	
	
	
	
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 Professor LM Das of IIT-D conceived the idea of using compressed hydrogen as an automotive fuel with Delhi's air pollution in mind . In the early '80s, it was a bold initiative — an idea ahead of its time. Lay acquaintances thought he was talking about making a hydrogen bomb. Detractors in the scientific community dismissed his research as a freak project. But Das soldiered on alone over the next three decades as associates came and went. He says - Unlike petroleum-derived hydrocarbon fuels, pure hydrogen does not produce toxic carbon monoxide or the heat-trapping carbon dioxide on combustion. There are no oxides of sulphur, nor any particulates. Water vapour and oxides of nitrogen (NOx) are the only byproducts. Although NOx is a pollutant, Das claims their engine has been optimized to reduce its emission greatly. 
 
Machine that reduces waste and in turn quenches thirst
	
	
	
	
	
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Designed and developed in just 95 days by two IIT Bombay students - Anurag Meena and Satyendra Meena - is a revolutionary machine which accepts used cans or bottles, and dispenses 300 millilitres of clean (RO and UV treated) drinking water in exchange. It is currently on a pilot test run at the IIT-Bombay boys’ hostel. In the coming months, it will also be installed in several other places in Mumbai and Chandigarh. 
 
(Image credit: PagalGuy)

10 brilliant innovations by IITians to make India a better place to live in

<a href="http://www.businessinsider.in/searchresult.cms?query=e-Commerce+">e-Commerce</a> companies <keyword id="6354742" type="COMPANY" weightage="80" keywordseo="Flipkart">Flipkart</keyword> and <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> have invested around Rs 1.8 crore and funded the designer of board games MadRat for children. Sachin Bansal and <keyword id="6364080" type="PERSON" weightage="60" keywordseo="Binny-Bansal">Binny Bansal</keyword> of <a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart+">Flipkart</a> made their investment in November last year while Snapdeal's <keyword id="219793" type="PERSON" weightage="60" keywordseo="Kunal-Bahl">Kunal Bahl</keyword> and Rohit Bansal did that recently. 
 
"They (the other investors) started smiling when I told them both <a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal">Snapdeal</a> and Flipkart are participating. 'How did you manage that?' was their first question," <keyword id="2975978" type="UNKNOWN" weightage="100" keywordseo="MadRat-Games-Pvt-Ltd">MadRat Games Pvt Ltd</keyword> CEO Rajat Dhariwal told the Economic Times. 
 
Kunal Bahl and <a href="http://www.businessinsider.in/searchresult.cms?query=Rohit+Bansal">Rohit Bansal</a> didn't have any issues over their competitors investing in the firm, said Dhariwal, an alumnus of the <a href="http://www.businessinsider.in/searchresult.cms?query=Indian+Institute+of+Technology-Bombay+">Indian Institute of Technology-Bombay</a> and <keyword id="6421753" type="ORGANIZATION" weightage="80" keywordseo="Carnegie-Mellon-University">Carnegie Mellon University</keyword>. 
 Participants in the funding round of about $1 million (about Rs 6.2 crore) included the founders of IT outsourcing firm <keyword id="23555" type="COMPANY" weightage="80" keywordseo="Globallogic">GlobalLogic</keyword> - Rajul Garg, Sanjay Singh, Manoj Agarwala and Tarun Upadhyay. Vikas Choudhury, promoter of <keyword id="2975485" type="UNKNOWN" weightage="60" keywordseo="Pivot-Ventures">Pivot Ventures</keyword>, investment banker Sandeep Bordia and equity crowd funding site Globevestor have also put money into the company. 
 
"Innovation is at the heart of MadRat Games," said Binny Bansal, the single largest investor in the round. The company has Ravi Vora, CEO of the strategic brands group at Flipkart, on its board. 
 
Snapdeal declined to comment on the personal investments of the founders. 
 
According to Dhariwal, investors see potential in MadRat. "Everyone is building brands in-house. In the children category, I think the two companies see us as a top brand," he said. 
 
The company, which will launch a crowd funding campaign on Kickstarter in August as part of efforts to go global, is looking to compete with the likes of global giants Hasbro and Mattel. 
 
 Before setting up MadRat in 2010, Dhariwal taught kids for four years at <keyword id="2975487" type="UNKNOWN" weightage="80" keywordseo="Rishi-Valley-School-in-Andhra-Pradesh">Rishi Valley School in Andhra Pradesh</keyword> along with co-founder Madhumita Halder. Their experience showed them that children learn best when lessons are not forced down their throats. 
 
For instance, a jigsaw puzzle is usually discarded after being solved a few times. MadRat has sought to build on this, adding card games based on the pictures in the jigsaw or getting players to hunt for tiny characters hidden in the puzzle with a magnifying glass. 
 
Rajul Garg said: "What we found promising in MadRat was the team's sharp focus on becoming 'the' brand known for providing wholesome entertainment for kids." 
 
The games are priced between Rs 500 and Rs 1,000 and are available in 400 stores in 10 cities — and on Flipkart and Snapdeal. The company said it has sold 60,000 units of the five games it launched in January. 
 
"Learning should be like osmosis. It should happen without them (kids) knowing about it," said Dhariwal. The market is large, with the Indian toy industry expected to expand to Rs 13,000 crore in 2015 from Rs 8,000 crore in 2013, according to a report by the Associated Chambers of Commerce and Industry of India (<a href="http://www.businessinsider.in/searchresult.cms?query=ASSOCHAM">ASSOCHAM</a>). 
 
(Image: Indiatimes)

Flipkart & Snapdeal in rat race! Both invest about Rs 1.8 crore in MadRat Games

<ul><li>The Australian Centre of International Justice (ACIJ) and activist group Justice for Myanmar (JFM) have called on India's stock exchanges to take regulatory action against <keyword id="895682" type="COMPANY" weightage="20" keywordseo="Adani-Ports">Adani Ports</keyword>, led by Indian billionaire <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword>.</li><li>According to them, the company is ‘factually misleading’ stakeholders by failing to disclose its association with the Myanmar military.</li><li>Meanwhile, Adani Ports saw its share price skyrocket by nearly 5% on the National Stock Exchange (NSE) as well as the Bombay Stock Exchange (BSE).</li></ul>Indian billionaire Gautam Adani seems to be unable to get away from the controversy of allegedly having close ties with the Myanmar military — which is now ruling the country after a coup — even after multiple denials. The Australian Centre of International Justice (<a href="https://acij.org.au/joint-media-release-adani-ports-misleads-shareholders-in-statement-that-fails-to-disclose-myanmar-military-ties-nse-and-bse-must-take-regulatory-action/">ACIJ</a>) and activist group Justice for Myanmar (JFM) have called on the India’s stock exchanges to take regulatory action against his company, Adani Ports, for failing to disclose ties with the military junta. Meanwhile, Adani Ports’ — the largest private port operator in India — shares rallied by 4.43% on the National Stock Exchange (NSE) and 4.77% on the Bombay Stock Exchange (BSE) on April 1. Gautam Adani, the chairman and managing director of the Adani Group, has seen his <a href="https://www.businessinsider.in/business/corporates/news/gautam-adani-beats-elon-musk-jeff-bezos-and-mukesh-ambani-in-2021-with-highest-increase-in-net-worth/slidelist/81467132.cms">wealth skyrocket in 2021</a>. His net worth has grown more than even Amazon’s Jeff Bezos or Tesla’s Elon Musk this year. <div type="image" title="Copy of wipro share price" msid="81844454" hostid="261" caption="&amp;lt;p&amp;gt;Adani Ports&amp;#39; share price since 1 January 2021&amp;lt;/p&amp;gt;"></div> The civil rights organisation claims that the statement released by <a href="https://www.adaniports.com/Newsroom/Media-Releases/Media-Statement-from-Adani-Group-on-Myanmar-Situation">Adani Ports</a> on March 31 is ‘factually misleading’. The issue centres around how the company is linked to the Myanmar Economic Corporation (MEC). “Adani Ports’ direct business with MEC exposes shareholders to major international law, corruption and reputational risks,” wrote ACIJ in its press release on April 1. Business Insider India has reached out to Adani Ports for a comment on the issue but is yet to receive a response. <cmsannotation type="cmsannotation" annotationid="Why is Adani Ports’ association with MEC a concern of civil rights?" comment="subhead" text="Why is Adani Ports’ association with MEC a concern of civil rights?">Why is Adani Ports’ association with MEC a concern of civil rights?</cmsannotation> The MEC is controlled by Myanmar’s armed forces that have been accused by the United Nations (UN) of committing genocide and crimes against humanity. <a href="https://www.businessinsider.in/international/news/in-2-months-myanmars-military-has-killed-more-than-500-people-the-international-community-has-done-little-to-help-/articleshow/81819602.cms">More than 500 people</a> have been killed in the Myanmar military’s brutal crackdown on protests against its coup to oust civilian leader Aung San Suu Kyi. Moreover, the US hit the MEC with sanctions <a href="https://techcrunch.com/2021/03/29/united-states-myanmar-sanctions-internet/">last week</a> citing that the MEC is ‘a vital financial lifeline for the military junta’. According to the <a href="https://acij.org.au/wp-content/uploads/2021/03/Port-of-Complicity-Report-FINAL-Low-Resolution-Version.pdf">ACIJ and JFM</a>, documents show that Adani Ports will pay up to $30 million in land lease fees for the project to the MEC. Moreover, documents filed with Myanmar’s corporate regulator show Adani bringing in $141 million ‘capital in cash and $148 million ‘capital in kind’ for the project as per <a href="https://www.abc.net.au/news/2021-03-30/queensland-adani-ports-myanmar-military-deal/100032156">ABC Australia</a>’s investigation. However, Adani Ports’ maintains that the facts are being misrepresented. <cmsannotation type="cmsannotation" annotationid="The timeline of accusations against Adani Ports — and subsequent denials" comment="subhead" text="The timeline of accusations against Adani Ports — and subsequent denials">The timeline of accusations against Adani Ports — and subsequent denials</cmsannotation> As early as August 2018, the UN Human Rights Council (UNHRC) <a href="https://www.ohchr.org/Documents/HRBodies/HRCouncil/FFM-Myanmar/A_HRC_39_CRP.2.pdf">issued a public warning</a> to foreign corporations not to do business with the MEC. However, 10 months later, on 23 May 2019, Adani Ports entered into a ‘build, operate, transfer’ (BOT) agreement with the entity as per ACIJ’s report. The deal entails Adani Ports’ Myanmar subsidiary — the Adani Yangon International Terminal Company — constructing a container port in Yangon on MEC’s military-owned land. Come September 2019, a report by UNHRC listed out the corporations involved in operations with the MEC. Many began to review their business operations and disengaged from ongoing projects. Meanwhile, Adani Ports remained silent. But, as pressure built up, Adani Ports <a href="https://www.business-humanrights.org/en/latest-news/adani-ports-sez-ltd-did-not-respond/">categorically denied</a> engaging with Myanmar’s military leadership in order to facilitate its project in the country in February earlier this year. However, <a href="https://www.abc.net.au/news/2021-03-30/queensland-adani-ports-myanmar-military-deal/100032156">photographic and video evidence</a> sourced by ABC Australia earlier this week contradicts those claims. Adani Ports claims that the visit was a ‘cultural courtesy’ and a ‘customary practice’. “Much like our global peers, we are watching the situation in Myanmar carefully and will engage with the relevant authorities and stakeholders to seek their advice on the way forward,” said the company's spokesperson in a <a href="https://www.adaniports.com/Newsroom/Media-Releases/Media-Statement-from-Adani-Group-on-Myanmar-Situation">statement</a> on March 31. Adani’s port projects in <a href="https://www.stopadani.com/">Australia</a> and <a href="https://www.downtoearth.org.in/news/environment/why-are-ennore-residents-protesting-against-adani-s-kattupalli-port-expansion-project--75894">Tamil Nadu</a> have also received criticism from activist groups, politicians and locals over environmental concerns. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/nasa-isros-nisar-satellite-could-face-a-seven-month-delay-and-cost-36-million-more-bearing-the-impact-of-covid-19/articleshow/81841231.cms">NASA-ISRO joint radar satellite could face a seven-month delay and cost $36 million more bearing the impact of COVID-19</a> <a href="https://www.businessinsider.in/finance/banks/news/state-bank-of-indias-sbi-mobile-banking-services-have-been-down-for-over-an-hour/articleshow/81820564.cms">SBI's mobile banking seems to have hit a snag — this time without a warning</a>

Aussie civil rights group calls on India's stock exchanges to take action against Adani Ports for 'factually misleading' stakeholders

<ul><li>Shaktikanta Das, the <keyword id="64190" type="POSITION" weightage="20" keywordseo="RBI-Governor">RBI governor</keyword>, has revealed that work on <keyword id="10825928" type="UNKNOWN" weightage="20" keywordseo="indias-digital-currency">India’s digital currency</keyword> is in progress.</li><li>He noted that the project has the full attention of RBI, and that the bank is tying up “loose ends”.</li><li>A <keyword id="1624829" type="PERSON" weightage="20" keywordseo="digital-currency">digital currency</keyword> will help the RBI save on costs associated with printing notes, minting coins, and storing them.</li></ul>India is working on its digital currency and according to the RBI governor Shaktikanta Das, it could be revealed “very shortly”. However, he refrained from giving any specific timeline. Das was delivering a <a href="https://www.businessinsider.in/finance/banks/news/highlights-from-rbi-governors-keynote-address-to-bombay-chamber-of-commerce-and-industry/slidelist/81206348.cms">keynote speech</a> addressing the Bombay Chamber of Commerce and Industry, where he touched upon a wide range of topics, including the burning issue of the steep rise in petrol and diesel prices. Das also added that the digital currency project is “receiving our full attention” and that the bank is tying up the loose ends. When it is rolled out, India will join China, Singapore and others which have their own national digital currencies. Countries like Japan, Russia and Sweden are also working on their own alternatives. <cmsannotation type="cmsannotation" annotationid="What is a digital currency?" comment="subhead" text="What is a digital currency?">What is a digital currency?</cmsannotation> As the name signifies, digital currency is an electronic form of the national currency. It is managed, stored and shared in electronic form over the internet. Cryptocurrencies are also a form of digital currency. <cmsannotation type="cmsannotation" annotationid="How is digital currency different from bank notes and coins?" comment="subhead" text="How is digital currency different from bank notes and coins?">How is digital currency different from bank notes and coins?</cmsannotation> Simply put, digital currency is stored in an electronic form. You can hold them in digital wallets, for instance – similar to how we currently hold money in wallets offered by different companies like Paytm, PhonePe and others. Digital currencies will be completely electronic and come with their own benefits, some of which are explained below. <cmsannotation type="cmsannotation" annotationid="What are the benefits of digital currency?" comment="subhead" text="What are the benefits of digital currency?">What are the benefits of digital currency?</cmsannotation> Using digital currency will allow you to store money in digital wallets. Since the RBI does not have to print them, it saves on printing and material costs that are incurred for printing notes and minting coins. Additionally, since they are stored electronically, the RBI and banks save on costs that are incurred on storing notes and coins. Transactions made with digital currencies are also instantaneous since both the sender and receiver transact over the internet. This is fairly similar to how we currently transact via wallets or unified payments interface (UPI), electronic fund transfer (EFT) or other electronic modes of payment. “No fees will be required to paid to banks for money transfers or for holding a bank account,” <a href="https://economictimes.indiatimes.com/markets/stocks/news/how-can-a-digital-currency-from-rbi-change-your-world-an-ex-un-expert-decodes-cbdc-for-you/articleshow/81204657.cms">said</a> Massimo Buonomo, a former United Nations expert on blockchain and cryptocurrency, highlighting that there are more cost savings for everyone involved in the payments process – including banks and their customers. Buonomo further highlighted that the transaction fees collected by payment processing firms like Visa and MasterCard would also be saved while making payments using debit and credit cards. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/what-happens-if-the-government-bans-cryptocurrencies-should-i-sell-bitcoin-checkout-experts-views/articleshow/80782941.cms">“Should I sell my cryptocurrencies?” and other questions answered on India’s proposed Crypto Ban bill</a> <a href="https://www.businessinsider.in/stock-market/news/cryptocurrency-exchange-coindcx-raises-13-9-million-funding/articleshow/79850829.cms">Cryptocurrency exchange CoinDCX has raised $20 million since the pandemic broke out⁠ — the founder says he is hiring aggressively as volumes have tripled</a> <a href="https://www.businessinsider.in/finance/banks/news/rbi-wants-you-to-memorise-all-your-debit-and-credit-card-numbers/articleshow/81186570.cms">RBI wants you to memorise all your debit and credit card numbers — Amazon, Zomato, Netflix and others argue this will make online payments more tedious</a>

RBI's digital currency to be revealed 'very shortly' – governor says issues are still being sorted out internally

<ul><li>The Karnataka government bans online "games of chance".</li><li>As the IPL season has kicked in, Dream11, My11Circle, MPL Pro, Bet365, Gamezy and many others gaming platforms can come under the radar of Karnataka’s ban on online ‘game of chance’.</li><li>The offence under the law will lead to a prison term of up to three years and fine of up to ₹ 1 lakh.</li></ul>The Karnataka government on Tuesday <a href="https://economictimes.indiatimes.com/tech/technology/karnataka-assembly-passes-bill-banning-online-games-of-chance/articleshow/86407014.cms">reportedly</a> passed a bill that bans online "games of chance”. Karnataka Chief Minister Basavaraj Bommai reportedly said that the government will deal with gaming operators who run “games of chance” camouflaged as “games of skill”. Even those skill games that involve the risk of the player losing money would invite action under the law, he said. However, there is not enough clarity on which games are considered under “game of skill” and “game of chance”. As the Indian Premier League (IPL) season has kicked in, online gaming firms like Dream11, My11Circle, MPL Pro, Bet365, Gamezy and many others can come under the radar of Karnataka’s ban on online ‘game of chance’. Operating such games, sheltering such operations, and abetting and participating in such online games both cognisable and non-bailable is an offence, according to the bill. The offence will lead to a prison term of up to three years and fine of up to ₹ 1 lakh. So far, Punjab, Haryana, Bombay and Rajasthan High Courts have given <a href="https://economictimes.indiatimes.com/tech/startups/supreme-court-upholds-dream11-fantasy-sports-format-as-game-of-skill/articleshow/85040855.cms">verdict </a>supporting online gaming platforms like Dream11 and considers it as a “game of skill”. The Karnataka government has gone ahead with the ban despite the Supreme Court’s <a href="https://m.economictimes.com/tech/startups/supreme-court-upholds-dream11-fantasy-sports-format-as-game-of-skill/articleshow/85040855.cms">decision </a>that favoured the fantasy gaming industry, calling them skill gaming instead of gambling. Priyank Kharge, former information technology (IT), tourism and social welfare minister of Karnataka, batted against a blanket ban for all online games. “The government should form a committee with industry stakeholders and come out with a law that curbs online betting instead of a bill that won’t stand the test of law,” he said in a tweet. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[ ]]></cdata></div> Kharge mentioned Karnataka is the gaming hub with investments of ₹4,000 crore employing thousands of people. The former minister further added that more clarity is required on certain of these issues because these are buzzing businesses. “They (online gaming platforms) are run by very young players (individuals) who have just graduated from colleges and it will kill them at this stage. Tax certainty is required as you cannot tax the entire thing, just because you feel that there is revenue which can be collected from these activities,” said Abhishek A Rastogi, partner at Khaitan &amp; Co in a Twitter live session with Business Insider on Monday. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> In the same conversation, another panelist, Sandeep Chilana, managing partner at Chilana &amp; Chilana Associates, said that there will be legal challenges by these online gaming entities in the court after the ban. “In the online gaming casino sectors, and the entertainment sector everything is charged under different categories of rates. So I'm saying, gambling betting is one thing, but if you see a serious casino business, you are charging me the royalty, the licence fee to operate the casino, you are charging GST [goods and services tax] on that also, then you are asking for the 20% tax only even if it's a slot machine,” said Rastogi. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/tonetag-backed-by-amazon-and-mukesh-ambani-is-ready-to-go-beyond-payments-using-sound-waves-not-internet-and-smartphones/articleshow/86419124.cms">ToneTag, backed by both Amazon and Mukesh Ambani, is ready to go beyond payments using sound waves, not internet and smartphones</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/zee-entertainment-merges-with-sony-pictures/articleshow/86416420.cms">Marriage Story! Zee gets a white knight in Sony</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/irctc-indiamart-zee-entertainment-cummins-india-share-price-under-pressure-but-still-worth-buying/slidelist/86407477.cms">IRCTC, IndiaMART, Cummins India and others have been under pressure in the last 5 days but still worth buying</a>

Experts say Karnataka’s ban on 'games of chance' may face a legal test

<ul><li>IBF is being renamed as <keyword id="11329818" type="UNKNOWN" weightage="20" keywordseo="Indian-Broadcasting-and-Digital-Foundation">Indian Broadcasting and Digital Foundation</keyword> (IBDF), as it expands its purview to cover digital platforms to bring all digital (OTT) players under one roof. </li><li>The Council includes national award-winning filmmaker Nikkhil Advani; Deepak Dhar, CEO and founder, Banijay Group; prominent artist, filmmaker and writer Ashwiny Iyer Tiwari; and creative writer and innovative director, Tigmanshu Dhulia.</li></ul><keyword id="7326546" type="UNKNOWN" weightage="20" keywordseo="the-indian-broadcasting-foundation">The Indian Broadcasting Foundation</keyword> (IBF), which is soon going to be renamed as Indian Broadcasting &amp; Digital Foundation (IBDF), the apex body of broadcasters and OTT operators, has today announced the appointment of Justice (Retd.) <keyword id="205721" type="PERSON" weightage="20" keywordseo="Vikramjit-Sen">Vikramjit Sen</keyword> as the Chairman, along with six other eminent industry members for the newly formed Digital Media Content Regulatory Council (DMCRC). The Council constitutes prominent personalities from the Media &amp; Entertainment industry and Online Curated Content Providers (OCCPs), with experience in IPR, programming and content creation. The Council includes national award-winning filmmaker Nikkhil Advani; Deepak Dhar, CEO and founder, Banijay Group; prominent artist, filmmaker and writer Ashwiny Iyer Tiwari; and creative writer and innovative director, Tigmanshu Dhulia. The other two members from the OCCPs include Ashok Nambisan, General Counsel, Sony Pictures Pvt. Ltd, and Mihir Rale, Chief Regional Counsel, Star and Disney India. The self-regulatory body which is formed as per the mandate of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 with active consultation amongst the creative industry fraternity is expected to create a credible, robust and practical code for content, with an inclusive and fair governance structure under the experienced chairmanship of Justice (Retd.) Vikramjit Sen. Speaking on the appointment of the committee, K. Madhavan, President, IBF said, “I am delighted that so many experts from the media and entertainment industry have come forward and accepted the invitation of IBDF to be part of the proposed self-regulatory body. I look forward to working with the Council whose mandate is to ensure freedom of expression of the Indian creative industry as well as help the discerning audience of the OTT platforms to have unhindered access to world-class and differentiated content. This is a historical and win-win moment for all the stakeholders i.e. the M&amp;E industry, the policymakers and the subscribers of the OTT platforms.” IBF is being renamed as Indian Broadcasting and Digital Foundation (IBDF), as it expands its purview to cover digital platforms to bring all digital (OTT) players under one roof. This industry-led Self-Regulatory Body (SRB) called Digital Media Content Regulatory Council (DMCRC) for digital OTT platforms is a second-tier mechanism at the appellate level, similar to Broadcast Content Complaint Council (BCCC). About the Council members: Justice Vikramajit Sen: A Graduate from St. Stephen’s College with Honours in History. He has practiced in all the Courts in Delhi, although primarily in the High Court of Delhi. He handled civil, arbitration and commercial disputes. He had a special interest and consultancy on minority rights. He was a core member of the Inter Denomination Committee for recommendations for Amendments to the Personal Laws relating to Christians in India. He was appointed as an Additional Judge of the Delhi High Court on 7th July 1999 and a permanent Judge on 30th October 2000. He was also a member of the Malta Judicial Conference under the auspices of the Hague Convention. As a Member of the Planning Committee of the Common Law – Commonwealth Conference, 2009 he attended the Conference in Hyderabad in February 2011. He is the first and continuing Chairperson of Delhi High Court Arbitration Centre. He was elevated to the Supreme Court of India on 24 December 2012. Retired on 30 December 2015. In 2017, Justice Sen was appointed as the Chairman of the Broadcast Content Complaints Council (BCCC), which is a self-regulatory body for the non-news and current affairs television channels in India. Nikkhil Advani: A National Award-winning filmmaker with a film career spanning 20 years. Nikkhil’s film “Delhi Safari” was India’s first stereoscopic 3-D Animation Feature. It advocated for wildlife conservation and is currently being developed into a full-fledged franchise in Hollywood. He began assisting art-house film directors, Saeed Mirza, Kundan Shah, and Sudhir Mishra and his very first outing as a co-screenplay writer for ‘Iss Raat Ki Subah Nahin’ was critically appreciated. Deepak Dhar: He is credited with being the key driving force behind content production in India. Paris-headquartered content powerhouse Banijay Group has set up its office for India and Southeast Asia in partnership with Deepak Dhar, former Endemol India managing director. Deepak started his journey in the broadcasting industry in 1996. He was listed in the Economic Times Spencer Stuart ‘India’s Hottest 40 under 40 Business Leaders’ in 2015 and recognized as one of the ‘Most Promising Leaders of Asia in 2016’ at The Economic Times Asian Business Leaders Conclave for Demonstrating Exemplary Leadership Qualities, throughout his career. Ashwiny Iyer Tiwari: She is an Artist, Filmmaker and Writer. A gold medallist in Commercial Arts from Sophia Polytechnic, Mumbai, she spent over a decade in the advertising world telling stories for the biggest brands in India and Southeast Asia. She has won several advertising ‘craft’ awards across the world for her layered ideas and in-depth understanding of human psychology at the grassroots level. She has directed the critically acclaimed, award-winning short film ‘What’s for Breakfast?’ ‘Brothers’ and ‘Ghar ki Murgi’ (Taken for Granted). In 2020, Ashwiny was selected by Forbes as “A self-made woman of India”. Tigmanshu Dhulia: He is a creative writer and innovative director, who is known for his meaningful, award-winning and heart-winning movies. He is the creator of timeless movies/TV shows like Bandit Queen, Bombay Blues, Paan Singh Tomar, Hasil, Charas, Just Mohabbat, etc. He has countless top-grossing, critically acclaimed, and brilliantly directed movies to his credit, as a writer and producer. Post graduated in acting, he completed his Master's Degree in Theatre in 1989. Ashok Nambissan: Ashok is responsible for overseeing the Corporate Relations, Legal &amp; Regulatory Affairs and the Standards &amp; Practices functions supporting SPN’s businesses in India and abroad. He also serves as the Company’s Ombudsperson. Ashok is a member of the Indian Broadcasting Federation (IBF)’s Legal Affairs Sub-Committee and the Broadcast Content Complaints Council. He also serves on the Broadcast Audience Research Council (BARC) Disciplinary Committee. His areas of expertise include corporate restructuring, Board &amp; investor matters, copyright, property, labour, civil and criminal litigation, regulatory affairs as well as mergers and acquisitions. Prior to joining SPN in 2007, he was Senior Director - Legal &amp; Regional General Counsel with Philips Electronics India Limited in Mumbai, where he held multiple positions, including Head of Legal Affairs for Philips in India and South Asia; Compliance Officer under Philips’ General Business Principles; and member of the India management team from 2003 onwards. Mihir Rale, Chief Regional Counsel, Star and Disney India: He oversees legal and regulatory affairs for Star &amp; Disney India. Mihir has been practicing law for nearly two decades across both contentious and non-contentious issues. Since joining Star India as a Manager in 2009, Mihir has played an instrumental role in the growth of the company. He is now the Chief Regional Counsel for Star and Disney India. Mihir has played a pivotal role in guiding the company and the industry through challenging regulations under an ever-evolving regulatory landscape in India. He began his career with Haresh Jagtiani &amp; Associates as a litigation counsel practicing before the Bombay High Court. Prior to joining Star India, Mihir worked at AZB &amp; Partners, where he practiced both contentious and non-contentious assignments. He holds an LLB and is a Bachelor of Socio-legal Sciences, both from the Indian Law Societies, Law College, and the University of Pune.

The Indian Broadcasting Foundation appoints Former Justice Vikramjit Sen as the Chairman

<ul><li>Due to the pandemic, as brands tightened their purse strings in 2020, advertising agencies had to resort to salary cuts and/or worse, layoffs.</li><li>In the midst of it all, the two-year-old Django Digital, a part of the Schbang Network, hit its $1 million revenue mark despite the pandemic and economic slowdown.</li><li>Django Digital is currently serving a wide range of clients across different categories, including FMCG, lifestyle, health and skincare, amongst others.</li><li>It has associated with brands such as Society Tea, Imagine Meats, skinnsi, toothsi, Bblunt, Nykaa, Jio Fiber, BookMyShow, Storia Foods, among others.</li><li>We speak to <keyword id="2719410" type="General" weightage="20" keywordseo="aashay-shah" source="Orion">Aashay Shah</keyword> and <keyword id="12600371" type="General" weightage="20" keywordseo="shivang-shah" source="Orion">Shivang Shah</keyword>, <keyword id="12600372" type="General" weightage="20" keywordseo="founders-of-django-digital" source="Orion">Founders of Django Digital</keyword> on their journey so far, find out more about the factors that led to this quick growth during a global pandemic, and discuss their larger vision for the agency.</li></ul>The newest million dollar agency on the block is Django Digital. A part of <keyword id="12600376" type="General" weightage="20" keywordseo="schbang-network-company" source="Orion">Schbang Network Company</keyword>, this integrated digital solution provider was started by Shivang Shah and Aashay Shah out of their living room in August 2019 with a vision to grab a seat at the table with the bigger agencies in the industry. Shortly after its inception, the digital agency had to face its biggest challenge -- sail through a pandemic when the biggest advertising agencies of India were laying off their employees and cutting their salaries to half because brands had curtailed their marketing budgets. Django Digital not only survived the pandemic but also grew tenfold and has now hit the $1 million revenue mark. COVID-19 accelerated the adoption of digital marketing and pushed brands to reconsider their strategies and shift monnies where consumers are -- be it OTT or social media, screen time has increased and clients are following them. Digital marketing finally received its due recognition and credit last year, which worked well in Django Digital’s favour. We spoke to the founders, Shivang Shah and Aashay Shah, to find out their secret sauce, discuss the challenges that lie ahead and vision for the agency. Q. Can you walk us through your journey so far and share a few key milestones? The two of us have always been passionate about becoming entrepreneurs. So our dream venture Django Digital started off right in our living room as we both brainstormed nights on end. Within two months we started working out of a mezzanine floored office that used to be a repair shop. At this point, we were merely a team of five-to-six but creatively skilled individuals. Today, we are working out of a 2400 sq ft office in Lower Parel, Mumbai with a workforce of 60 people. We have a dedicated studio in the office for our photo and video-led content work. Our journey has been long and aspirational but let me tell you, we achieved so many of those aspirations. Since day one, we wanted to sign Society Tea as a client and exactly a year later, we got them onboard. As founders of a startup, both of us wore multiple hats and took up responsibilities of handling finance, accounts, recruitment, IT and administration. It was only after a year that we managed to hire an HR manager and an accountant. We learnt new skills, made quite a few mistakes but it was always a step in the right direction. Vivek Shah, our performance media lead, was working out of New York during the first year but still continued to work with Django, steadily managing around different time zones. Q. What does your clientele look like today? We remember when we started out, one of the conversations we had was we wanted to be known as 'two young kids around the block’, which did materialise. Within a year of Django being operational, we were sitting at the same table as all the other renowned agencies, managing a roster of 45+ clients. Over two years in, Django Digital is currently serving a wide range of clients across industries, including FMCG, lifestyle, health and skincare, amongst others. We’ve associated with both, young as well as well-established brands such as Society Tea, Imagine Meats, skinnsi, toothsi, Bblunt, Nykaa, Jio Fiber, BookMyShow, Storia Foods, and others. Catering to a multitude of clients across industries has expanded our portfolio, making us a 360-degree digital solutions provider. Q. Django started in 2019 and shortly in 2020, the business world had to face its biggest crisis ever of modern times. And you have not only survived through it but also grown tenfold! Tell us what kind of challenges you faced as a new business? In literal terms, Django Digital is a Covid baby. While others were adapting to the virtual ecosystem, we had to start from scratch in this environment. However, we managed to use this as an opportunity to meet rising demand for digital solutions. Certain challenges we faced across the way were creating and building virtual teams, coordinating and functioning in the entire work-from-home setup, pitching new ideas to clients and most importantly - providing our team members with necessary infrastructural essentials at their homes, especially the design team that is the backbone of our creative work. In spite of these challenges, we have successfully arrived at where we are today. This is just a learning for us that growth can happen in any environment, if you are dedicated and motivated enough. Q. You have hit the one million mark during a global pandemic. Just a few months ago, the advertising industry was struggling to survive. What has worked in your favour? Looking back, the two years of the pandemic have been the defining years for our agency. We quickly set in place a plan and we have stuck to it ever since - that of making difficult decisions early on and then accelerating out hard to take a rightful seat at the table with the bigger agencies in the industry. While mainline advertising was hit badly, we witnessed a surge in digital requirements. Traditional players rapidly adopted it without much knowledge, and as a desperate move to get business back on track. Many didn't see digital as a key channel earlier, but necessity drove them into it. They had to provide for their customers so as to retain them. But we started out purely as a digital agency with the experience to validate us and our work. Being part of this digital age and using it to our advantage is precisely what has worked best for us. Q. What do you think sets you apart? An industry that is booming with new agencies every day, what sets us apart is our approach towards business. We make it a point to associate with brands where we get to work directly with leadership teams so that our strategy and thoughts aren’t diluted in the process. The trifecta of social, influencers and performance media has enabled us to provide a holistic digital solution to all our clients. We’re a thriving agency with a young and dynamic workforce that is hungry for growth. We’re very specific about the talent we get aboard at Django. More than expertise, we value determination and that’s what sets us apart. As an organization, we believe in fostering a culture of creative freedom and minimal hierarchy. Q. You mentioned that you work with brands where the leadership team is equally involved. Can you tell me more about this approach? How different is this experience? How open are clients to being involved with their agency? We consciously make an effort to stay directly in touch with the founders of brands that we’re serving. The innovative ideas we have are not filtered in this route. Our expertise combined with our collective experience is the approach we have seen founders love and have in turn, grown to become more involved in the decision making process. By adapting this route, we get to deep dive into the brand and in return, brands get a better understanding of the digital marketing approach we suggest. We build a personal connection and a long-lasting relationship with brands that is beyond business. Q. Clients' needs are evolving rapidly. How are you keeping up with the pace? As a young digital agency, staying on our toes comes as second nature to us. We are constantly adapting to the latest trends. At times, we are the ones to notify the clients about the disrupting trends in the industry and how to leverage those. We cater to our clients’ needs and expectations, but we also put forth our informed opinion when the need arises. Our common objective is our clients’ growth and we do not shy away from stating our thoughts, even when they might contradict with the clients.’ Q. Which cities are you present in? Do you plan to expand further? At the moment, we are based out of Mumbai but we do handle clients pan India and in the USA as well as in Antwerp. We’re currently seeing the economy booming combined with changing demographic sentiments. We see a lot of potential within India for now, especially with the startup boom and therefore want to exploit that further. As years pass by, we will look at expanding outside India, however operations will always be from India itself. Q. You recently launched Djang-Gang, your influencer unit. What kind of response have you seen for the same? Djang Gang is a novel ‘by-invite’ club for content creators across genres, allowing them to showcase their talent and helping them build associations with suitable brands. We offer them an in-house studio set-up, post-production perks, commitment to handle all legal aspects and the youngest creative team to back the content being created. We’ve received an incredible response from over 300 creators who wanted to be a part of this initiative. However, we thoughtfully chose 14 talented and budding creators from the applications received. We’re progressing towards building a growing environment for the onboarded community of creators and are also on the lookout for dedicated creators wanting to make a mark in the industry. We would love to support and grow with them. Q. What are the challenges ahead and what kind of changes can we see at the agency in the next few months? We’re a 2.5-year-old agency that is growing at a rather fast rate for a pandemic baby, however, challenges are still an eminent part of what we do. The biggest challenge we are facing is scaling up at a sustainable pace. We’re learning how to drive our growth by building a resilient business model which balances sustainability with economic development and equitable growth. Apart from that, we face the challenges that every agency does - ensuring we work with the right clients, convincing them to execute out-of-box ideas with no past references and doing work that is worthy of the effort we put into it. While these challenges are constant, the most crucial one is hiring the right talent. At Django, we believe in hiring leadership talent that will shape the organization so finding the right people, especially virtually, and building our teams is a challenge we are working towards every day. Q. Finding good talent is something that people in our industry always complain about. Are you also facing a similar issue? The ongoing pandemic has made the process of finding great talent tougher but at the same time, allowed us to find innovative ways to get them onboard. As an agency that started out a little over 2 years ago with us two founders in our living rooms, we have scaled up and have grown our family to 60 young-blooded individuals. I can already tell you that you will see us grow to 100+ employees by August ‘22 and I’ll also explain how Django is doing this. We have got a very strong referral system within Django itself. I would say 50% of our hires are built through these referrals. Every employee here is helping the agency grow so they actively help spread the word and bring in like-minded people to us. Another fact is that hiring has been difficult across the industry, but what we realised early on is that this has opened several doors for us. As a Bombay-based agency, we aren’t limited to employees around us. The work-from-home virtual setup had us scouting great talent from across the country as well, leading us to grow to the strength we have today. Q. What is your larger vision for the agency? At Django Digital, we believe in awakening brands digitally - our larger vision is to inculcate this for a lot more brands. We don’t want to be the ‘agency of a brand’ but instead we want to be the storytellers of brands. We are on a strong mission to build Django Digital and its employees along with our clients. You can say that our larger vision is to do good work, inspiring work and work that impacts the world and businesses in a positive way. Q. What is your revenue goal for next fiscal? What do you think will be the main forces helping you reach there? Now that we have hit the $1 Million revenue mark, we are motivated to achieve a $1.5 M annual target. We’re expecting Django to progress at an even quicker rate now and our strategic imperatives will result in a stronger financial structure for us. We want to ensure a sustainable and profitable growth while increasing our revenue at higher gross margins over time. As a new-age digital startup agency, we bring the right edge to the table as well as a strong core team that will help us dominate the industry. We are focusing on segments that will allow profitable growth and at the same time staying engaged with our trusted existing clients that will help drive us towards our goal.

Exclusive: Schbang Network Company’s Django Digital hits $1 million revenue mark in two years; here’s what worked in its favour

New Delhi, Mar 17 () Regulator Sebi has barred Paramount Printpackaging and its officials from the capital markets for five years for diverting the proceeds of initial share-sale and failing to make true and adequate disclosure in the IPO papers. The officials that have been restrained are the company's chairman and managing director Divyesh Ashwin Sukhadia, whole time director Dharmesh Ashwin Sukhadia and former whole-time director Anuj Vipin Sukhadia. Paramount came out with its Rs 46-crore initial public offer (IPO) in April 2011 and its shares got listed on the exchanges in May, 2011. Sebi noted that Paramount was owned by Sukhadia family and they collectively held 79.38 per cent shares of the company before IPO and post initial share-sale, they owned 40.45 per cent stake. These three officials were in charge of the affairs of the company before and after the shares of the company got listed. A probe by the regulator found that Paramount misutilised the proceeds of the IPO and also diverted the funds to entities that did not provide any service and goods as contracted. "It is concluded that the noticees had a pre-determined plan where under it first raised money from the public through the IPO route by concealing material information, making false/wrong and inadequate disclosures regarding vendors, then transferred the IPO proceeds to pre-decided vendors within a few days and thereby misutilised and diverted the proceeds of the IPO. "I therefore find that the noticees in the present case had misutilised Rs 35 crore and had diverted Rs 34.5 crore," Sebi Whole Time Member Madhabi Puri Buch said in a 64 page order passed on Monday. Accordingly, the Securities and Exchange Board of India (Sebi) has barred Paramount from the capital markets for five years. This is subject to the direction of Bombay High Court or official liquidator appointed by the court in pursuance of the the liquidation or winding up proceedings pending in respect of the company. Further, the regulator had prohibited these three official from the markets for five years. They have also been barred from being associated with any listed company in any capacity. SP ANSANS

Sebi bans Paramount Printpackaging, officials from mkts for 5 yrs for IPO fund diversion

Jalandhar, Apr 10 () With Covid-19 lockdown resulting in a complete halt of trading activities, barring some essential commodities, the over Rs 2,000-crore sports industry of Jalandhar is having a harrowing time as the current situation has forced sport goods manufacturers to defer orders. With the nationwide lockdown enforced to contain the spread of novel coronavirus, the manufacturers of sport items here are apprehensive about their future going ahead amid indications that the government might decide to further extend the lockdown in view of rising virus cases in several parts of the country. A sports goods manufacturing hub, Jalandhar produces nearly 70 per cent of total India's sports goods and is a leading name in national and international brands of cricket, hockey, football, rugby and fitness range. In terms of international market, the industry exports material to the UK, Australia, South Africa, Germany, France, Netherlands, New Zealand and others. Alarmed over the situation, the industrialists while supporting the government's move of lockdown said that losses were imminent and the industry would be hit hard. Atul Madan, the owner of century-old Sarve Prakash and Company, Jalandhar, a leading name in Rugby Export in India, said that in the wake of Covid-19, all national and international borders were sealed and it was complete slowdown now. "Our export material including footballs, bats, sports accessories for New Zealand and South Africa were lying stuck at Delhi and Bombay Ports. Similarly, not just international sports events like soccer leagues, IPL, other tournaments but those in educational institutions across the country were also staring at an uncertain future as of now," he said, adding that post Covid-19, the government should provide comfortable liquidity and package to sustain the industry operations. Nitin Mahajan, the owner of AVM Sports and the general secretary of Sports and Toys Exporters Association, said a letter has been written to Principal Secretary to PM P K Mishra and Punjab Finance Minister Manpreet Singh Badal to sanction GST refunds on priority and increase the percentage of Merchandise Exports from India Scheme (MEIS) licences at least for this year and provide free Export Credit Gurantee Cooperation of India (ECGC) support for import and export to keep business afloat. The association also shared concerns that because sports goods do not come under 'essential items', this particular industry is facing lots of problems. "Lack of payment to dealers, distributors, corporates would affect the ability of manufacturers to pay dues to the employees. We have requested that the payments to the manufacturers related to government tenders, orders should be expedited once lockdown ends," Mahajan, whose AVM Sports is famous for cricket bats, cricket equipment and baseballs in India, shared. He also pointed out that schools, colleges, universities have been closed and stadiums might be taken over by the government for makeshift hospitals. "As sports industry is labour oriented, we would want the state government to save local employment and industry. Waiving or deferment of local taxes and minimum electricity charges for a period till the operations start is must," he said. The traders also mentioned that the sports industry was facing around Rs 2 to 3 crore loss in business every day. However, the total loss would be ascertained after the lockdown ends, it said. Rajesh Kharbanda, the managing director of Nivia Sports under the banner of Freewill Sports, said that other than the current crisis, manufacturers were concerned about the welfare of labourers too whom they paid salaries 10-days in advance. Apart from this, he hinted at the possible changes in sports business in terms of consumer behaviour. "Community sports like tournaments, gyms, marathons would witness a change because of social distancing. There was a big possibility that now people would prefer individual gym range and sports equipment in their houses like basketball and badminton courts abroad instead of going out. Even face masks would become compulsory to wear in the times to come," he said. Rajan Kohli, the managing director of TK Sports, renowned for Hockey, IPL jerseys for Kings XI Punjab, T-20 matches and Shrey Helmets for Cricket, said that no doubt business would go down but as of now the concern is that Covid-19 comes under control. "The central government led by Prime Minister Narendra Modi was taking the best decisions to counter the pandemic. Business will come and go but right now we should support our country," he said. Meanwhile, Punjab Chief Minister Amarinder Singh has said the ongoing lockdown to contain the spread of coronavirus should continue, while noting that predictions by health experts about the spread of the pandemic are "horrendous and frightening". VSD MKJ

Covid-19 cripples Rs 2,000-crore Jalandhar sports industry

<keyword id="6419840" type="PERSON" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword>, one of the stalwarts of the Indian IT industry, is credited for diversifying <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword>, originally a manufacturer of vegetable and refined oils in Amalner, district Jalgaon in Maharashtra. The 70 plus business tycoon took charge at a young age of 21 and since then has been imparting many of the lessons he learnt during his career with India’s youth. BI India puts together 5 life lessons that every budding entrepreneur can learn from him. 
	 
	Know Your Strengths 
	 
	While it is important to know one’s weaknesses, it is equally important to know one’s strengths as well. Azim Premji has followed this throughout his life and turned what was then a $2 million hydrogenated cooking fat company into the $ 7 billion company, with a presence in 60 countries. At an event organized by AIMA and Bombay Management Association, he had said that it important to cherish the good in us because it is only our strengths that helps us correct our weaknesses. 
	 
	Stay Grounded 
	 
	Every entrepreneur can become successful. But what is important is to not let success go to your head. Or so says Premji. He has always advised young entrepreneurs to remain down to earth because the moment one lets success get into the head, he is already on his way to failure. He has also stressed on the fact that failure is as much a natural phenomenon as success is. So, when you encounter failure, always learn your lessons and move on! 
	 
	Be Far-Sighted 
	 
	The 70 plus philanthropist believes change is inevitable. And so he advises everyone to develop their own early warning system, which sets the alarm and prepares one for the changes ahead. He believes ‘being forewarned is being forearmed’ even when things are going right. 
	 
	Stick To Your Values 
	 
	He has believed that one’s value system forms the core of the business. Premji has time and again emphasized on the need for sticking to values because he firmly believes that success in business eventually but inevitably follows. He has said that once you stand by what you believe and don’t compromise with it under any circumstances; he becomes resilient to stand up to crisis, a quality much adored in entrepreneurs! 
	 
	Have Faith 
	 
	Azim Premji has always believed that it is important to have faith in one’s own ideas, even when everyone around tells you it is impossible. It is this faith that has helped him diversify Wipro and make it an IT giant, not just in the country but across the globe.

5 life lessons from
Azim Premji that will help you succeed

A structure taller than <keyword id="6354539" type="COMPANY" weightage="20" keywordseo="Dubai">Dubai</keyword>'s iconic 163-floor <keyword id="92239" type="ORGANIZATION" weightage="100" keywordseo="Burj-Khalifa">Burj Khalifa</keyword> with a green boulevard bigger than Mumbai's Marine Drive will form part of a new eastern waterfront to be developed on a wasteland in the country's financial capital, to news agency PTI. These grand plans are part of a dream project of Nitin <keyword id="6361025" type="PERSON" weightage="20" keywordseo="Gadkari">Gadkari</keyword>, the union minister for Shipping, Road Transport and Highways, who sees the <keyword id="386705" type="UNKNOWN" weightage="20" keywordseo="MUmbai-port">Mumbai Port</keyword> Trust as the "richest landlord" of the city and wants to give a makeover to its huge swathes of industrial wasteland. "In Mumbai, we are the number one landlord. The iconic Taj Hotel, the Ballard Estate, the Reliance building, we (MbPT) are the owners. There are beautiful plans to develop the huge land with the port," Gadkari told PTI. The plans are ready and we are awaiting Centre's nod, the Minister said. "We are not giving our land to the builders and investors. We have plans to develop the area...We are making a green, smart road, three times bigger than the Marine Drive. We plan historic landmark bigger than Burj Khalifa. The plan is ready, we are waiting for the approval from the Cabinet," Gadkari said. MbPT, which was earlier called the Bombay Port Trust, is one of the largest public land holders in Mumbai city and has been operating the port since 1873. It is one of the top 12 major ports in the country. "About 500 hectares is proposed to be developed with a mix of port operations, business, office, commercial, retail, entertainment, community projects and convention centres, etc," a top official said. A key feature of the plan is a 7-km long marine drive between Mazagaon Docks and <keyword id="157686" type="CITY" weightage="20" keywordseo="Wadala">Wadala</keyword>, much bigger than the existing Marine Drive. The proposed projects also include creation of spaces for community recreation and engagement, maritime museum, marinas etc. Mumbai Port has already invited global tender from consulting firms for master plan and infrastructure design of the port. The Centre had earlier sup a committee under the chairmanship of R Jadhav for preparing a roadmap for development of Port's waterfront and land, which has already been submitted to the Ministry of Shipping. Gadkari said the <keyword id="6390662" type="ORGANIZATION" weightage="20" keywordseo="shipping-ministry">Shipping Ministry</keyword> has plans to develop other ports too. "We are planning development of <keyword id="6354925" type="COMPANY" weightage="20" keywordseo="Kolkata">Kolkata</keyword> Port. We are also making smart city at <keyword id="209584" type="COMPANY" weightage="20" keywordseo="Kandla-Port">Kandla Port</keyword>," he said. The Minister said there was no paucity of resources nor land as there is "one lakh hectares of land" among ports and the government has already come up with ambitious Rs 14 lakh crore Sagarmala project for port-led development of the country. Major ports in India have between them 2.64 lakh acres of land. A blueprint for utilisation of land available with 12 major ports was underway while consultants are also in the process of submitting a report on how to utilise 1.98 lakh acres of submerged land with ports, according to news agency PTI. India's 12 major ports handle approximately 61 per cent of the country's total cargo traffic. The roadmap for port land assumes significance, given a CAG report which observed that major ports had failed to utilise close to half of the total land under their possession. "Land measuring 22,949.82 acres was identified for future activities by ports while 13,045.56 acres were yet to be earmarked for any future activity," the Comptroller and Auditor General of India (CAG) had said in a report. According to the audit report on 'Land Management in Major Ports', out of the total land holding of 77,191.14 acres, title deeds were not available for 34,943.41 acres representing 45.27 per cent of the total land portfolio. The 12 major ports are Kandla, Mumbai, JNPT, Marmugao, New Mangalore, Cochin, Chennai, Ennore, VO Chidambarnar, Visakhapatnam, Paradip and Kolkata (including <keyword id="54017" type="COMPANY" weightage="20" keywordseo="haldia">Haldia</keyword>). The cabinet last year had approved a policy for award of waterfront and associated land to port dependent industries in major ports.

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5 life lessons from Azim Premji that will help you succeed

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Now an Indian Burj Khalifa coming up in Mumbai Seafront

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