Ericsson asked to file objection by Friday

The National Company Law Appellate Tribunal (NCLAT) on Monday allowed telecom gear maker Ericsson India to file its objection by February 8 over the plea of Reliance Communications (RCom) to proceed with the insolvency process.

On February 1, RCom had said in a statement that it decided to opt for the insolvency proceedings following its failure to sell assets for paying back its lenders. RCom even failed to sell spectrum to Mukesh Ambani-led Reliance Jio —a deal that was expected to bring some relief to the cash-strapped company.

Digitization of MSME to become a $10 billion market

Offering digital services to MSMEs is a market that has a potential to grow exponentially in the coming years. Studies find that this market will grow at a CAGR of 50 per cent for the next five years to touch $10 billion from $1.5 billion last year.

Greater adoption by more number of MSMEs and increased spending by them for digital services, including online sales, payments, lending, logistics, advertisements and SaaS are set to grow. According to RedSeer Consulting, as of 2018 three million or just 6 per cent of the MSMEs had adopted digital services.

Growth lags in 8 core industries

Growth in eight core industries slowed to18 months low of 2.6% in December, indicating that industrial production continues to remain subdued on account of weak demand and less than encouraging recovery in infrastructure sectors and a stable recovery would take more time to fructify.

GDP growth rate for 2017-18 revised to 7.2% from 6.7%

Despite the twin shocks of demonetisation and the implementation of goods and services tax (GST), the government said that the country’s economy grew faster than earlier projected over the last two years.

The government on Thursday revised the economic growth rate upwards to 7.2% for 2017-18 from the 6.7% estimated earlier.

H-1B rule change keeps qualification in, talent out

Tech India’s visa woes are far from over. Things are still bad now with the the US Citizenship and Immigration Services (USCIS) implementing a new H-1B visa filing regulation applicable from the quota opening on April 1, though the electronic registration requirement will be suspended for the fiscal year 2020 cap season, as requested by various industry bodies, including Nasscom.

Accenture to sell software that eats up BPO jobs

Accenture Plc, the global consulting firm, will begin selling automation software that has already eliminated about 40,000 internal roles.

The new platform, that’s been five years in development, suggests ways to streamline and automate processes in areas such as finance and accounting, marketing and procurement.

A global platter

Trade Promoters Council of India (TPCI) recently organised an experiential tea tasting and food pairing session, in the presence of renowned tea consultant Amy B Dubin and master culinary craftsman Kumar Sambhav. Both of the culinary masters curated and presented different preparations of exquisite tea and Indian fusion food for international palate.

Less than a minute for issuing policies and settling claims

It will take just less than one minute to issue a policy or settle a claim. Within a year’s time, most of the insurance providers will be able to make this promise. Almost all the insurers are building artificial intelligence and machine learning solutions into their processes to become faster and more efficient.