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New Infy CEO to focus on reviving growth
After a long search, Infosys named Salil S Parekh as its new CEO and Managing Director. 53 year old Parekh has spent 17 years at Capegemini, the French IT services firm where he helped build its offshore delivery capability and also expanded the India team, helping Capegemini compete with other Indian IT service providers. All eyes will be focused on Parekh, an IIT-Bombay and Cornell University alumnus as he takes on the reins.He will need to get the revenue back on par with industry peers and stabilise the company
Air India sale package
The sale of Air India will include its core aviation assets like low-cost subsidiary Air India Express and AI-SATS, slots at airports and flying rights to various countries, the government has decided. Subsidiaries Air India Air Transport services and Air India Air Transport services will be sold separately.
Spike in digital payments for Indian railways
Indian railways seems to have gained from the government's digital push. Online purchases of reserved railway tickets have gone up from 58% in November 2016 to over 70% now. This means almost 30-50 million passengers from the reserved category have taken to the digital mode of payments.In order to promote cashless transactions. Card swipe machines, BHIM and UPIs have been installed at all counters
Biocon to market Herceptin in US
Biocon has bagged the regulatory approval to market an anti-cancer drug Herceptin in the US. This is expected to boost the drug-maker's drug-development capabilities and enhance profitability too. Herceptin is used for the treatment of breast cancer and metastatic stomach cancer. Biocon, headed by Kiran Mazumdar Shaw has become the first Indian company which has scored over global rivals to get the US Food and Drug Administration's nod.
Growth of the media industry
According to a CII-BCG report, the Indian media and entertainment industry would double in size by 2022 with a CAGR of 11-12% between 2016-2022. It would also be able to generate direct and indirect employment of 4 million people in the next five years. The work force would witness profile shifts around technology, big data and analytics including new jobs and reskilling of the current work force.
Pensioners and corporates might stand to gain
Top officials have concluded that the finance ministry will be looking at consolidating the big changes of the last 3 years instead of introducing radical new measures in the budget. One area that the finance ministry is focusing on is to offer large tax sops to pensioners. The other area in which some changes are expected is direct tax rates for the corporate sector
The rise of Oppo Mobiles
Oppo Mobiles has surpassed Micromax in sales which grew by more than 7 times in 2017. It has also overtaken Sony, the Japanese electronics firm by revenue. Oppo's advertising strategy seems to have paid off in the Indian market. Even as other smartphone brands were reeling under the effects of demonetisation, Oppo sales surged. This also points at how share of Indian brands in the smartphone market has narrowed to 14% from 33%.