May08 to 14
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April 30
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Use latest available technology to cut T&D loss: Power Secy
New Delhi, May 09, 2008:
The government's target to install additional capacity of 78,577 MW during the Eleventh Plan offers huge opportunity to manufacturers of power equipment, said Mr Anil Razdan, Secretary, Ministry of Power, Government of India at National Seminar on Control Instrumentation & Automation for Innovating Power Sector, organized by Confederation of Indian Industry, in New Delhi on Friday.
Mr Razdan said, "Power companies should use latest technology and provide affordable energy. Transmission and distribution loss needs to be brought down to 10% to effectively meet mammoth demand. Power theft and misdirection should be checked."
Praising the shift to IT-enabled control and monitoring system, Mr Razdan put premium on user-friendly instrumentation. He suggested that power stations should operate in a relaxed environment.
"Innovation and technology are the buzzwords. We have to cut the size of instrumentation and demystify technology so that the end-user gets the maximum benefit. We should deploy technology to warn end-user and check breakdown in case he draws excess power from the system.
Mr V Ramakrishna, Member, Power System, Central Electricity Authority, said, "IT, telecom and microprocessors have revolutionized the power supply and brought about the optimization of manpower. Control and monitoring equipment have made processes efficient and raised safety levels." He added, "New technologies have brought about centralized monitoring. Defect in one part does not lead to the failure of the entire system. We have made transition from big to small control rooms. Remote operations are becoming the order of the day."
He said new technologies have ensured efficiency in distribution and effectively tackled the shortage of engineers in the power sector. The growing economy and rising demand for power will make instrumentation and automation further important.
Mr S Majumdar, Director, Project, Power Grid Corporation of India Ltd, said, "Power distribution sector is undergoing a change. The business of supply is no more a public service but an economic activity. With the entry of private players, power distribution is becoming healthy and competitive. Companies need to offer secure and reliable power at affordable prices."
Mr Majumdar said, "We need to optimize resources, take transmission and distribution seriously, reduce waste of energy and check uneven distribution of power. Instrumentation and automation can play a critical role in addressing these issues."
Giving vote of thanks, Mr V K Kanjlia, Secretary, Central Board of Irrigation & Power, Government of India, said technology has changed the face of control and monitoring in the power sector.
Earlier, making welcome address, Mr K Nandakumar, Chairman, Instrumentation Division, CII, said, "India is the fifth largest power generating country in the world but the per capita consumption is still low. Addition of required capacity is a daunting task. The role of instrumentation is critical in cutting cost and achieving global standards. Top
A union of knowledge and opportunities at the CII – IIT Bombay
Mumbi, May 09, 2008:
"If India has to progress at 10% growth rate, we have to find solutions for our citizens with the help of technological and innovative ideas. Last few decades of world growth has largely been technologically driven. Invention becomes innovation when a new technology leads to successful commercial concept", said Mr Adi Godrej, Chairman, Godrej Group and Chief Guest while speaking on 'Innovation in Science & technology' at the 2nd Symposium of University-Industry Council organized by Confederation of Indian Industry with IIT – Bombay in Mumbai.
Issues faced by Indian universities and industries in facing global competitiveness were highlighted by Professor P V Indiresan, Co-Chairman, CII University-Industry Council and Former Director, IIT Madras at his inaugural address at the CII Session. "Low endowments, universities not being learning organizations and lack of competition amongst the universities are the challenges. Time has come to make universities globally competitive by having more privatization in education," said Prof. Indiresan. "Similarly industries have to learn how to work with new and original ideas. From the capital driven growth Indian industries have entered the phase of technological led growth. If they aspire for long term leadership and sustained growth they require technology development driven growth. All these issues can be solved successfully if a marriage between industry and universities take place. In addition it would lead to protection of the universities by industries from external controls on them", stressed the Speaker.
Mr C Banerjee, Director General, CII, initiated the entire programme through his welcome address. He emphasized the importance of building linkages between university and industry by focusing on increasing interaction between the two pillars of the society. "CII during the last few years has taken a conscious decision to push for quality, innovation and skill for working towards CII's vision of India@75. For this vision to be realized, partnership between universities and industry is crucial. Therefore CII is committed to take forward the university - industry council and the actions resulting from it", said Mr Banerjee.
Mr Vijay Thadani, Chairman, CII National Committee on Education and Chief Executive Officer, NIIT Ltd. called on the participants to evolve a system where we have industry with university inside and university with industry inside. "With only 15%-20% of India's workforce being employable in global terms, it is imperative that in order to take advantage of the global opportunity, universities curriculum must be designed to improve efficiency, accountability, governance and transparency", said Mr Thadani. Also he envisaged the emergence of a Global Professional for which universities and industries should work jointly.
Putting forth the perspective of the universities was Prof Ashok Mishra, Director, IIT Bombay, who valued the platform created for joint action and interaction. "We need to have industry support and sponsorships. Opportunities exist in several areas between industry and universities like jointly organizing masters and doctoral programmes, joint research and development programmes among others", said Prof Mishra.
Eminent speakers from the industry and academia addressed the audience on topics ranging from 'Cross Disciplinary Areas and Impact on Nation'; 'Design, IPR, Human Resource Development' and case studies in 'industry academia collaboration- engineering, science and management & humanities' to case studies from North East. There was also a panel discussion on what needs to be done by the industry, academia and government.
The CII Programme thus recognizing the importance of universities and industries in the development of India brought together participants from both the spheres and presented an opportunity for the two to interact, understand each other's requirements and evolve together.
As Mr. Vijay Thadani emphasized the participants committed themselves to a "bias for actions". Top
Delhi Metro and Citibank Launch Co-Branded Transit Credit Card
New Delhi, May 08, 2008:
Citibank India and the Delhi Metro Rail Corporation (DMRC) today announced the launch of India's first co-branded, '2-in-1' transit credit card, the Delhi Metro Citibank Credit Card. The first of its kind in India, the card combines the benefits of a Metro Smart Card with the advantages of a Citibank Credit Card, and will be available to customers from today.
This new product is a pioneering initiative introduced by DMRC and Citibank India, to offer enhanced value and convenience to Delhi's residents. In addition to the exciting features of a Citibank credit card and the existing Metro Smart card, the Delhi Metro Citibank Credit Card is also unique in several other ways. The reward points accumulated on this card can be redeemed for free Metro rides, at the Citibank point-of-sale terminals, presently installed at Rajeev Chowk, Kashmere Gate, Barakhamba, Pitampura, Rajouri Garden and Dwarka Mor Metro Stations and soon to spread across other stations as well. Additionally, it offers double reward points for Metro spending and will not require the mandatory security deposit of Rs 50.
It is India's first credit card that doubles as a contact-less access card for the Delhi Metro stations, allowing customers "tap and go" entry into DMRC stations. In addition to convenience, the Delhi Metro Citibank Credit card will offer several benefits, including exclusive shopping deals and discounts in Delhi and the NCR, fuel surcharge waivers at Indian Oil outlets and other privileges associated with a Citibank Credit Card. The special "Delhi Delights" feature of this card offers unique deals from some of the biggest brands in Delhi, including Dominos, Fun Cinemas, Nirula's, Bercos, India Today and VLCC.
Launching the Delhi Metro Citibank Credit Card, Mr. Surath Chatterjee, Regional Head of Card Products, Citi Asia Pacific said; "As a global leader in the credit cards business, Citi has come to be known for its innovative card and banking products, internationally and across the Asia Pacific region. Citi has successfully launched similar products in New York and Singapore, both of which have been extremely well received. We expect to launch similar products in more countries in the next few months. This is a great product for our customers and it really helps them in their daily lives. We have worked closely with the DMRC to develop a customised offering for the Indian market and are sure that this product will be a success in India. With the launch of this unique transit credit card, Citi continues its tradition of pioneering innovations in Asia".
Commenting on the partnership with Citi, DMRC Director, Operations, Mr. Raj Kumar added: "DMRC is always looking to improve the transit customer's experience and we are delighted to partner with Citibank, to launch this unique offering. We believe this product is the next step in providing our travellers unmatched convenience and reduced waiting times by combining an efficient payment mechanism with the Metro experience."
Also speaking on the occasion, Mr. P. S. Jayakumar, Country Business Manager, Global Consumer Group, Citi India, said: "By pioneering co-branding in India, Citibank has brought unmatched value to customers by partnering with the best organisations in their industries. We are delighted to partner with DMRC, which has made Metro the preferred mode of travelling in Delhi. With its innovative practices and strong customer focus, DMRC continues to drive change in the field of mass rapid transportation. As the Metro extends its operations further into Delhi and NCR, and with the forthcoming Commonwealth Games in 2010, the Delhi Metro Citibank Credit Card will fulfil the need of a world-class product for hassle free travel and shopping. Citibank is happy to leverage its global expertise in the transit segment, to bring world-class products to the customers of Delhi."
Special Privileges on the Delhi Metro Citibank Credit Card:
Privileges on the '2-in-1' Delhi Metro Citibank Credit Card
-- 10 per cent discount on travel fare paid with the '2-in-1' card
-- 2 Reward Points for every Rs.100 spent on the Metro, 1 Reward Point for every Rs 100 spent elsewhere
-- Facility for converting all Reward Points into Metro Points for Free Metro Rides (at the POS terminal itself)
-- An International Credit Card: accepted at over 14 million merchant outlets, in association with Visa international, across the world
-- 2.5 per cent surcharge waiver on IOC petrol pumps
-- Access to 24 hr CitiPhone Banking services
-- Five free lifetime add-on cards
-- Delhi Delights - offers from the best brands of Delhi
About Delhi Metro Rail Corporation
The Delhi Metro began operations in Delhi in 2002. The first phase of the Metro Rail covers over 65 kms in Delhi. The Phase II of the project, which extends to South Delhi, Ghaziabad, Noida and Gurgaon will be completed by 2010 and will cover about 125 kms. DMRC is also one of the only three Metros in the world, which started making operational profits from day one. The Metro is also an eco-friendly, zero-emission mode of transportation.
Currently there are 0.65 million commuters travelling daily on the Metro Rail. The ridership is expected to reach a two million by 2010 as the network expands to cover South Delhi and NCR (National Capital Region). Top
OTC drugs sale on rise @ 10% : ASSOCHAM
New Delhi, May 08, 2008:
Higher medical professional charges coupled with excessive desire for self-medication and increasing faith in traditional ayurvedic medicines, India’s over the counter drug sale has grown around 10% in the last 2 years, leaving USA and China much behind, where OTC drug sale is estimated at 4% to 5% respectively.
The above findings are arrived at ASSOCHAM on Latest OTC Drug Sale Pattern, highlighting that the share of sale of OTC traditional drugs in India has gone up to 30% as against of cold and cough medicines, 12% of vitamins and about 7% of Analgesics.
Releasing the Chamber’s findings, its President, Mr. Venugopal N. Dhoot said that the maximum number of OTC drugs sold by qualified chemists and pharmacists are from the branded company like Pfizer Inc., the share of which is estimated at about 8%, followed by Sanofi-Aventis 7%, Johnson & Johnson 5.5% and remaining percentage is sold off through other.
Mr. Dhoot said that main reasons as to why OTC drugs, which fall under the category of Scheduled H of Drugs and Cosmetics Act, 1940 and can be sold without prescriptions from qualified doctors are increasing because most of common masses avoid consulting private medical practitioners because of their high professional fees and that’s why resort to self prescription.
Secondly, the faith of most of the masses is increasingly reviving in traditional ayurvedic medicines which are easily available with druggists, pharmacists and even special retailers including super markets and hyper markets. Thirdly, OTC drugs advertisements often appear in electronics and print because it is legally permitted which easily influence a large number of people to go in for them for maintaining their interiors and exteriors in terms of vitamins in take, added the ASSOCHAM Chief.
Indian OTC Pharmaceuticals Market segmentation: % share
| Category |
% Share |
| Traditional medicines |
27.30 |
| Cough and Cold preparations |
19.80 |
| Vitamins and minerals |
11.60 |
| Analgesics |
11.40 |
| Medicated skin products |
2.60 |
| Other |
27.30 |
About 2 years ago, India’s OTC drugs market was close to around 6% as against less than 2% of US and around 3% of China. The OTC drugs in India are quite common because the population of pharmists and chemists have exceeded over 8.5 lakhs. The OTC drugs sale would further get enhanced as their sales are now being permitted through various post offices and groceries stores and retail outlets.
Currently, OTC drugs are sold off in larger percentage of over 37 in urban areas and their penetration in the rural market is around 10% which will go up mani fold as OTC drugs availability would grow in countryside at much faster speed.
The Chamber is of the view that the key players that will emerge for further intensifying drug sales, marketing will include FMCG firms, advertisement and media firms, nurses, NGOs and pharmists to communicate about their effectiveness to rural masses in future.
In India, the awakening levels of modern medicines has gone up to 35% which use to be less than 20% around 2000 and this amounts to increased sale of OTC drugs. As far as the number of qualified doctors are concerned, these include about 6.5 lakh, 20% of which serve the rural masses by most of the times, recommending to their patients intake of OTC drugs because of non-availability of much more effective drugs which generally are in paucity in the countryside. Top
From Farm to Fork: CII to organise two-day Fruit & Vegetable Summit on May 12-13
New Delhi, May 08, 2008:
Cashing on the changing food habits the world over as well as in the country, India’s fruit and vegetable (F&V) sector is poised at a definite turning point. The ‘Fruit and Vegetable Summit 2008’ being organized by the Confederation of Indian Industry (CII) partnering with the Ministry of Agriculture and its affiliated institutions, the National Horticulture Mission and the National Horticulture Board from May 12 to 13, 2008 is a comprehensive exercise aimed at providing a new direction to the entire F&V value chain, covering all aspects of the sector ‘From Farm to Fork’.
India ranks as the world’s second largest producer of fruits and vegetables today. A conscious decision by the government to promote crop diversification and the industry’s enthusiasm has created a success story in the field of horticulture over the past few years. Ironically, it has a mere one per cent share in global F&V exports and needs to integrate the various elements in its F&V value chain to realize its full potential. The upcoming summit with its focus on “Developing Globally Competitive Value chains” provides a unique platform for all the stakeholders in this fast emerging sector to come together and explore new opportunities for investment and growth.
Appreciating the need for government support to this fast emerging sector, Union Agriculture Minister Sharad Pawar has agreed to inaugurate the unique summit. The government is committed to help the sector reach its full potential and has allocated Rs 1,100 crore in the current Union Budget for augmenting the fruit and vegetable business.
Spearheaded by CII’s National Council on Agriculture, the two-day summit being held in the capital comprehensively covers all elements of the F&V value chain from producers and grower associations to retailers, processors, logistics, cold chains and exporters and is designed to work on issues and processes through experience sharing.
The summit will bring to the fore emerging prospects in the F&V value chains and the crop sector as well as the various aspects of investments in value chain. CII will also bring out a value-chain-specific and crop specific opportunities in a first of its kind F&V investors guide during the Summit. Titled “Empowering F&V Business through Information”, the guide will be released by the Agriculture Minister.
The summit is poised to witness massive representation from the central and state governments and over 200 existing and emerging industries who will deliberate over policy issues, investment opportunities, learning from successful business models and case studies in order to develop interventions for developing globally competitive F&V chains in the country.
Six technical sessions involving international experts, and representatives of the government along side the existing and emerging industry, will deliberate on the outlook and growth drivers of F&V businesses in India; retail opportunities, the multi-dimensional challenges in F&V exports; connecting farmers to consumers through processing; infrastructure and logistics gap and resultant opportunities in handling perishables; sourcing and scalability – integrating small farmers into the supply chain; and enhancing the efficiency of the F&V supply chain through use of information technology.
The aim is to understand government plans for the F&V sector in the XIth plan; exploring the challenges and imperatives of business models in fresh produce retailing; sharing perspectives from the government and major F&V exporters on the multi-dimensional challenges in integrating the export value chain; understanding the government’s plans for promoting F&V based processing and integration of supply chain; discussing infrastructure and logistic gaps and resultant investment opportunities and credit and risk management in the sector besides addressing scalability challenges in F&V businesses.
It will provide opportunity for interaction with eminent government dignitaries including Dr. P.K.Mishra, Secretary, Department of Agriculture & Cooperation, Mr.P.I.Suvaratan, Secretary, Ministry of Food Processing Industries, Mr.S.K. Pattanayak, Jt. Secretary & Mission Director NMB, Ministry of Agriculture, Mr. Asit Triphathy, Chairman, APEDA and top industry leaders including Rakesh Bharti Mittal, Vice Chairman Bharti Enterprises; Arbind Das, Vice President, Aditya Birla Retail Ltd, Mr. Debashish Mitra , Managing Director, Calypso Foods Pvt Ltd, Mr. Gokul Panaik,Chairman, Global Agrisystem Pvt ltd ; Chair during its various technical sessions.
The CII will also share the key findings of the CII-Yes Bank Strategy Report on developing globally competitive value chains with the participants during the course of the summit. Top
60% of salaried class OPT for govt. banks for insurance, says ASSOCHAM study
New Delhi , May 07, 2008:
60% of salaried employees prefer state owned banking mechanism for insurance purposes as they feel that such institutions are more reliable, secure and are trustworthy while 20% prefer private banks for the same purpose and remaining 20% have shown their indifference to either of the two, according to findings of The Associated Chambers of Commerce and Industry of India (ASSOCHAM).
The aforesaid findings of the Chamber have been contained in a Study which it brought out on `Growth and Emergence of Public and Private Sector Banks in India : Customer's and Investor's Perceptions', in which over 250 salaried employees, businessmen, lawyers have been interviewed.
The ASSOCHAM Study on the subject has also revealed that 50% of the salaried employees prefer Private Sector for mutual fund while only 20% prefer Public Sector Banks for the same. 20% are indifferent to either of the two sectors for parking their funds in mutual funds while 10% do not avail this service. 40% of the employees prefer public sector banks for purposes of investment in bonds & securities as compared to 30% who prefer the private banks.
The insurance services provided by the public sector banks are preferred by 60% of the salaried employees, while only 20% prefer the private banks for insurance purposes, and the remaining 20% are indifferent to either of the two categories. This preference for public sector banks (PSBs) for insurance is mainly due to the fact that as a general perception the employees find public sector banks more reliable, secure and also trustworthy.
The consolidated preferences of salaried employees in public and private sector banks show an inclination towards the private banks. The Table lists down all the services provided by the 2 categories of banks i.e. public sector & private sector banks, giving the percentage of preference in public & private banks of salaried employee.
Releasing the Study, Mr. Venugopal N. Dhoot, ASSOCHAM President said that for bonds and securities, businessmen preference is the other way round i.e. 80% preferring PSBs. For Demat services 40% prefer private banks while 20% are indifferent. For opening demand deposit accounts 40% of the businessmen prefer PSBs while the same percentage prefer the private banks for demand deposit. For fixed deposits 60% of them prefer PSBs, 20% prefer private banks while 20% are indifferent between the two types.
For credit cards 60% of the businessmen prefer PSBs while for debit cards 40% prefer private banks, 20% prefer PSBs and 20% being indifferent. For ATMs 60% of the businessmen prefer private banks, while for phone and internet banking all the businessmen have opted for private banks because they are highly professional, quick and efficient and have good infrastructure and good appearances.
For loan facility, the majority of businessmen have preferred public sector banks as they found them much more reliable and secure, barring for home loans for which they prefer private banks. This is because private banks are to messy with tremendous growth, difficult to comprehend their offers, charge high rates of interests and are very clever with customers.
Preferences of the salaried Respondents for the Banking Services
(In percentages)
|
S.No.
|
Services
|
Public Sector Banks
|
Private Sector Banks
|
Public or Private Sector Banks
|
Not using the Services
|
|
1
|
Insurance
|
60
|
20
|
20
|
-
|
|
2
|
Mutual Funds
|
20
|
50
|
10
|
20
|
|
3
|
Bonds & Securities
|
40
|
30
|
-
|
30
|
|
4
|
Demat Account
|
30
|
40
|
-
|
30
|
|
5
|
Demand Deposits
|
40
|
60
|
-
|
-
|
|
6
|
Fixed Deposits
|
20
|
70
|
-
|
10
|
|
7
|
Credit Cards
|
10
|
90
|
-
|
-
|
|
8
|
Debit Cards
|
-
|
80
|
10
|
10
|
|
9
|
ATMs
|
20
|
50
|
30
|
-
|
|
10
|
Phone Banking
|
10
|
50
|
20
|
20
|
|
11
|
Internet Banking
|
10
|
60
|
20
|
10
|
|
12
|
Home Loans
|
50
|
20
|
-
|
30
|
|
13
|
Property Loans
|
40
|
40
|
-
|
20
|
|
14
|
Personal Loans
|
60
|
20
|
-
|
20
|
|
15
|
Educational Loans
|
60
|
10
|
-
|
30
|
Most of the businessmen prefer Indian Overseas Bank, Corporation Bank, PNB, SBI & Syndicate bank in the PSBs while in the private banks they prefer HDFC, Citibank, ICICI, Kotak Mahindra, etc. just like salaried employees and professionals the businessmen have also ranked private banks higher than PSBs giving them an average of 6 on 10 to PSBs as compared to 7 on 10 to private banks.
For all kinds of loans, majority of the employees surveyed prefer public sector banks, because they perceive that the rates of interest in PSBs are lower and more reliable than the private banks. Moreover, private banks are profit oriented, have high rates of interests, and follow persuasive banking approach that becomes irritating. It is also perceived that PSBs are not profit oriented and are therefore more focused on building confidence among its customers. For investments in mutual funds and bonds, a significant outcome is revealed, that is, all three categories are convergent on their preference; it is private banks for mutual funds and for bonds it is the PSBs.
For demand and fixed deposits majority of the salaried employees have given equal weightage to public sector banks and private banks, while businessmen are more inclined towards PSBs for all types of deposits. A very high percentage of all the 3 categories have preferred the private banks for credit cards, debit cards, ATMs, phone banking & internet banking. Top
HOV Services Ranked in Top 15 of IAOP's Global Outsourcing 100
Chennai, May 07, 2008:
HOV Services, Inc., a proven provider of business process and knowledge process outsourcing solutions announced today that they have received a ranking of 15 on the International Association of Outsourcing Professionals' (IAOP) Global Outsourcing 100 list for 2008. This is the third consecutive ranking for HOV Services within the top 25, and moves HOV Services up nine positions from last years ranking.
The Global Outsourcing 100 and its sub-lists are designed to help companies seek and develop meaningful partnerships with the top organizations in the outsourcing industry. The lists are not isolated to information technology and business process outsourcing providers and serve as the definitive snapshot of the strongest companies across a full spectrum of outsourcing services.
To determine a company's industry ranking, IAOP used four critical characteristics to base their judgments: size and growth; customer references; organizational competencies; and management capabilities. HOV Services received high ratings in all these areas and the top scores for both their Industry Recognition and Outsourcing Experience.
"HOV Services' is again honored by IAOP's recognition of HOVS as a worldwide leader in the outsourcing industry," stated Suresh Yannamani, President and COO of HOV Services. "With the continued expansion of our services into the Knowledge Process Outsourcing space, combined with HOVS' ability to provide flexible end-to-end Finance and Accounting, Risk Management and Content Management solutions across targeted vertical markets, we look forward to further increasing our ranking and delivering ever greater value for our customers in the coming year."
"The companies on this year's Global Outsourcing 100 list represent the elite of our field, hailing from every corner of the globe and providing an extensive array of cutting-edge services," says Michael F. Corbett, Chairman, IAOP. "The Global Outsourcing 100 list has become the definitive go-to resource that companies use to make better informed outsourcing decisions and comparisons of providers, so it is an extremely valuable resource for both the players named on it and the businesses around the world that use outsourcing services."
In addition to the overall ranking of 15th in the industry, HOV Services was additionally recognized in the following sub lists: Best 10 Leaders with Employee Presence in India; Best 20 Companies by Industry Focus: Financial Services (Banking, Capital Markets); Best 20 Companies by Industry Focus: Telecommunication; Best 20 Companies by Service Offered: Document Management; and Best 10 Companies by Industry Focus: Health Care.
For details on the panel of judges and on the process for selecting The Global Outsourcing 100 List, please visit the following website: www.globaloutsourcing100.com.
About HOV Services
HOV Services is a leader in the delivery of flexible, end-to-end outsourcing solutions. As a strategic partner and leader in the Business Process and Knowledge Process outsourcing marketplace, we are focused on improving financial and operational performance for our customers. Our clients include over 50 percent of the FORTUNE 100® and are some of the largest companies in the industries served. We combine over 20 years of industry experience with RightShore delivery centers strategically located in India, North America, China and Mexico with over 12,000 associates working together to Exceed Expectations® of our clients by assisting them in reaching their strategic business goals.
Our suite of solutions encompass Finance and Accounting, Content Management, and Risk Management customized to meet the needs of companies in the Healthcare, BFSI, Teleco,Media & Publishing, Retail, Manufacturing and Government sectors.
To learn more, visit www.hovservices.com.
About IAOP
The International Association of Outsourcing Professionals (IAOP), with 40,000 corporate,professional, and associate members worldwide, is leading the effort to transform the world of business through outsourcing. Its client side members are, on average, responsible for $60 million per year of outsourcing spending with some overseeing outsourcing programs in the billions of dollars. Through professional and ethical standards, the Certified Outsourcing Professional (COP) Program, educational programs including The Outsourcing World Summit®, and recognitions such as The Outsourcing Hall of Fame and The Global Outsourcing 100, IAOP is advancing one of the 21st century's most important new management fields - outsourcing.
To learn more, visit www.outsourcingprofessional.org.
About The Global Outsourcing 100
The Global Outsourcing 100, produced annually by the International Association of Outsourcing Professionals (IAOP), is devoted to featuring the best of today's leading outsourcing service providers and tomorrow's rising stars. Along with its publication by IAOP, the list appears each year in FORTUNE® magazine in the special advertising section produced by IAOP. Companies must demonstrate excellence in categories such as size and growth, customer experience, depth and breadth of competencies, and management capabilities. Because of the rigorous application and judging process employed, The Global Outsourcing 100 defines the standard for excellence in outsourcing service delivery. Top
Cincom Socrates Software Helps Complex Manufacturers Create Effective Sales Configuration
New Delhi, May 07, 2008:
Worldwide software provider, Cincom Systems (http://www.cincom.com), announces that its Cincom Socrates® version 8.3 (http://www.cincom.com/sap3) has added deeper integration with SAP® solutions for companies that provide complex products and services. Cincom Socrates is a knowledge-based modeling system that supports SAP solutions and extends business value by providing guided-selling, product-configuration, and proposal-management capabilities for configure-to-order and engineer-to-order manufacturers.
The sales process in configure-to-order and engineer-to-order businesses requires information collaboration over and above standard sales cycles. In order to win deals and drive revenue, today's information worker must have real-time access to structured and unstructured data at all points of the guided-selling and proposal-management process. Cincom Socrates also works the other way. Text and custom fields from Socrates can easily be inserted into a quote generated within an SAP solution.
"Cincom's additional business connectors (APIs) have been designed to address some very specific needs for complex manufacturers," said Ken Noll, SAP Practice Manager for Cincom. "Complex sales proposals often evolve as knowledge is gained in the sales process. By maintaining a connection to the company's investment in SAP solutions, Cincom helps companies guarantee they are building customer solutions based on proven company capabilities."
Manufacturers with engineer-to-order or configure-to-order products have successfully streamlined sales, design, and proposal processes by using Cincom to deliver critical product and sales knowledge to the point of sale and reduce "quote-to-cash" time significantly. Cincom has helped manufacturers reduce proposal generation time from five days to 15 minutes, decrease time to close a sale by 80 percent, and cut lead times from 14 weeks to six weeks.
Today's announcement was made at the SAPPHIRE® 2008 Orlando conference. For more information about Cincom's products and solutions for complex manufacturers, visit www.cincom.com/manufacturing.
About Cincom
Cincom delivers and supports innovative software and services to simplify complex business processes. For nearly 40 years, Cincom has empowered thousands of clients worldwide to outperform the competition by providing ways to increase revenue, control cost, minimize risk, and achieve rapid ROI.
Cincom serves clients on six continents including BMW, Citibank, Boeing, Ericsson, Penn State University, Milacron, Siemens, and Trane. For more information about Cincom's products and services, contact Cincom at +91 11 23737590, send an e-mail to info_india@cincom.com , or visit the company's website at www.cincom.com. Top
Inclusive growth and CSR must move forward through People-Private-Public Partnerships, CII Summit concludes
New Delhi, May 06, 2008:
Industry and capitalism must re-invent itself by mainstreaming Corporate Social Responsibility (CSR) through People-Private-Public Partnerships (P4) if economic growth has to be inclusive and sustainable, Dr Kirit S Parikh, Member, Planning Commission, said addressing the 2nd CII National Summit on CSR 2008’ on the theme organized by the CII in collaboration with the Ministry of Corporate Affairs and the Nation Foundation for Corporate Governance (NCFG) that concluded in New Delhi today.
“Capitalism requires to renew itself by including those who are excluded from its benefits so far”, Parikh said, adding that the corporates need to move towards the Gandhian ideal of ‘trusteeship’ and making social responsibility operative by making local communities stakeholders and through affirmative action.
Industry organizations such as CII have an important role to play in taking affirmative action specially in the area of skills development and training through P4, Parikh said.
Partnership is the key for responsive CSR and inclusive growth and government’s role is to facilitate and enable such partnerships, said Anurag Goel, Secretary, Ministry of Corporate Affairs.
He suggested five steps – defining the scope of CSR; identifying stakeholders and generating awareness; creating an enabling & facilitating institutional structure; building & maintaining partnerships among all sections of society and delivery on a continued basis while maintaining the momentum being generated through this summit – as a way to move forward in this area. The Corporate Affairs Ministry was in the process of setting up and Institute of Corporate Affairs for this purpose, he added.
“Transforming Capitalism: Business Leadership to improve the World for Everyone”, a book by Arun Maira, Senior Advisor, Boston Consulting Group India, was released during the valedictory session of the summit. The book is about listening to the local communities and creating a model of corporate governance that includes environment and communities.
A business model which is more inclusive, is kinder to the environment and considerate to the people must be developed in India, Mr. Maira added. “We in India are at a leadership moment to develop ideas that the world needs,” he added.
While India’s GDP continues to grow, its literacy rate is not growing accordingly and the country has slipped on the Human Development Index as well. For economic growth to continue, the need is to ensure inclusive growth and sustainable communities and this summit is a step in that direction, said Atul Singh, Chairman, CII 2nd CSR Summit 2008 and President & CEO, Coca-Cola India Ltd.
The two-day summit brought together representatives of the government, industry and the civil society and marked another milestone in CII’s ongoing work on CSR. Top industry leaders, Members of Parliament, Chief Minister of Rajasthan and top government officials came together with NGOs and civil society representatives to discuss the new directions CSR needs to take and to mainstream various ideas that promote inclusive and sustainable economic growth. Top
BTS India Private Equity Invests in Parabolic Drugs Limited
Mumbai, May 06, 2008:
BTS India Private Equity Fund Limited has announced investing around USD 7 million in Parabolic Drugs, a fast growing pharmaceutical company based out of Chandigarh. The capital will be used for funding Parabolic's next level of growth and will be largely used for significantly expanding capacities for its existing and new products.
With this, the Fund managed by Swiss based BTS group has completed yet another investment in pharmaceutical sector which is one of its preferred sectors. Several of the pharmaceutical companies invested through its earlier Fund have been doing exceedingly well and some of these have been nominated by CNBC TV18, ICICI Bank and CRISIL for the SME awards.
Parabolic Drugs which has facilites at Derabbasi and Panchkula near Chandigarh has already established itself with several global pharmaceutical companies as an important supplier for APIs and bulk drugs ranging across several products in the betalactum and cephalosporins range. "The current round of capital raising is a step towards further broadening the product and customer base, and take the company towards its target of crossing Rs. 10 billion in sales over the next couple of years", said Mr.Pranav Gupta, Chairman and Managing Director of Parabolic.
The company has obtained type II USFDA approval and Certificate of Suitability for some of its products. It is currently in the process of filing several DMFs and CEPs for further strengthening its exposure to the regulated markets both in Europe and US. Going forward, it also plans to enter non beta lactum products in the next 2-3 years. The company has set up a dedicated research and development centre in line with its plan for future growth.
According to Mr K Srinivas, Managing Partner, BTS "Parabolic has, over the years witnessed rapid growth and has become a leading supplier of APIs to its global customers. We are excited about partnering with Parabolic, which has a long term strategy of becoming a preferred supplier of its products to global customers both in the regulated markets in Europe and US. We are bullish on the Indian pharmaceutical sector and its continued sustained growth."
YES Bank was the sole strategic advisor to Parabolic for the transaction.
About Parabolic Drugs
Parabolic Drugs is a leading API company, manufacturing and marketing a broad range of APIs, and catering to Indian and international markets. It is amongst the leading players in the sterile SSP and Sterile Cephalosporin's in India and amongst few players in world to offer Penicillins, Cephalosporins & Steriles under one basket.
About YES BANK
It is India's new age private sector Bank which has built a robust advisory and lending practice including in Life Sciences and offers various products including capital raising, domestic and cross border M&A, in and out licensing and other advisory services.
BTS India Private Equity Fund has reputed multilateral institutions as its sponsors such as ADB, SIFEM, BIO and Taiwan - ICDF amongst others. The fund is a long-term investor in India and partners with its portfolio companies over a span of 4 - 7 years, before exiting.
About BTS :
BTS Investment Advisors Ltd (BTS-IA) is the investment advisor of the fund. BTS-IA is a key financial service provider advising on investments into the Indian markets. BTS-IA has a demonstrated track record of investment advisory services, and is the investment advisor to Swiss Tech Fund. Swiss Tec is sponsored by the Swiss Government in 1997 for funding small and medium scale enterprises in India. BTS-IA is responsible for the building of Swiss Tec portfolio in India. BTS-IA has a dedicated and highly experienced private equity team in Mumbai. The team of five investment professionals based in Mumbai is supported by two investment professionals from Zurich office of BTS group that manages over $800 million in securities in India.
BTS India Private Equity Fund Limited (Offshore Fund) is a limited liability company domiciled in Mauritius offering a tax efficient structure for international investors. The Offshore Fund to invest in an Indian Fund, which extends the investment opportunity to Indian investors. It is one of the leading private equity funds providing growth capital to SMEs in India. Both the Funds are registered with Securities and Exchange Board of India.
The Fund is sponsored by Asian Development Bank, Commonwealth Development Corporation, Swiss government, Belgium Investment Office of Belgium government and ICDF of Taiwan government besides pension funds and large family offices based in Europe. Top
CSR is far more than merely a tax tool, says Roongta at CII CSR Summit
New Delhi, May 05, 2008:
Corporate Social responsibility (CSR) is an effective business tool that provides returns in the long-term to both civil society and the industry, according to a panel of business and government leaders speaking at the 2nd CII CSR National Summit, being held in Delhi today and tomorrow, organised by the Confederation of Indian Industry (CII) in partnership with the Ministry of Corporate Affairs, Government of India, and the National Foundation for Corporate Governance (NFCG).
The panel discussed a range of issues from the need to bridge the gap between corporate governance and CSR, the ways to make CSR activities more accountable as well as more effective, to better delivery systems, the need to update the laws relating to these issues, and the types of partnerships involving different stakeholders in such activities.
CSR should be a part of every boardroom strategy and there should be a mechanism for effective, long term, sustainable partnership between industry and the government to take corporate social responsibility (CSR) forward, said to Mr. Anurag Goel, Secretary, Ministry of Corporate Affairs, Government of India. The government will set up an Indian Institute of Corporate Affairs to look at various aspects of corporate affairs, including CSR, holistically, he announced. Industry, he said, could partner with government in social issues and provide effective delivery systems. He stressed that such an institute would not be a "watch dog" but an "autonomous think tank " with representation from government, corporates and institutions / organisations.
CSR is far bigger than just giving back to society, it is a way to understand the needs of the people, according to Mr Tejpreet Chopra, President & CEO, GE India. It is a tool for companies to understand the needs of the customer, to stay ahead of society's way of thinking. For example, talks with NGOs several years ago made General Electric realise that awareness on climate change was going to be a big issue. CSR, Mr. Chopra added, attracts good people who understand the values of the company and so helps build leadership for the future. Finally, it is useful in developing brand image, he said.
Mr. Sushil Kumar Roongta, Chairman, Steel Authority of India, said that CSR is effective if there is a clear cut target and strategy. The focus, he said, should be on investment, not with an eye on returns – although returns will certainly be there in the long term. To ensure that CSR is effective, he said, one should ensure that the employees see the benefit of it, citing the CSR initiatives of the Bhilai Steel Plant as a case in point. It is not just a tax incentive activity, he added.
Mr. Viraf M. Mehta, Chief Executive, Partners in Change, spoke of the need for good reporting of CSR activities by corporates, and the need for accountability. Industry, he said, should learn lessons from the RTI (Right to Information) Act. He also felt that the NGOs Act, dating back to the 1800s, and the Companies Act of 1956 should be amended to meet contemporary needs , so that company-based foundations can be distinguished from civil society NGOs, whose roles differ. He also pointed out that while India had very good laws, the shortcomings were in implementation and quality of regulation. He spoke of the need for "a bridge between corporate governance and stakeholders and others that are covered by the CSR domain." He also saw a need for civil society and consumers to get adequate representation in any institutions addressing such issues. Indian companies should start having global CSR strategies, he said.
The biggest challenge, according to Mr. T.T. Ashok, Managing Director, Taylor Rubber Pvt Limited, is changing the mindset of smaller companies and convincing them that CSR is a business tool that even SMEs can benefit from. It shows that a company is committed to the needs of society and not just shareholder values. However, Mr. Ashok pointed out, companies often focus on the same areas of CSR activities, leading to duplication of effort and a waste of resources. Good coordination, therefore, was important. 'It's about a three way partnership – a focus institution like CII, an NGO, and a corporate," he said.
The Panel, moderated by Shereen Bhan, Associate Editor, CNBC India agreed that just keeping a percentage of net distributable profit for CSR is an insufficient response, corporates must take more responsibility and work towards successful partnerships with government, NGOs and Civil Society (P4). Top
CII- LM Thapar Centre for Competitiveness Organises
New Delhi, May 05, 2008:
Rotating equipment, motors, pumps, fans, blowers, compressors etc, are the most common sights in an industry. They are the sheer symbol of energy at work. To underscore the importance of their efficiency and reliability and to highlight the technological leaps in the field of rotating equipment CII – L M Thapar Centre for Competitiveness for SMEs organized ROTEQ – 2008, a seminar cum exposition on 5-6 May 2008 at Delhi which got huge response from the industry.
Addressing the seminar Mr Jawahar Sircar, Additional Secretary and Development Commissioner (MSME) lauded this effort focused at this critical aspect affecting the operation of industry and highlighted the need to identify measurable outcomes from the deliberations for tangible benefits. He exhorted to pick up any one burning issue like Agricultural Pumps and House hold Motors and carry out a thorough systematic study to come out with viable solutions. Carrying forward this message in his inaugural address Mr Ajay Mathur, Director General, Bureau of Energy Efficiency elaborated on the efforts undertaken by the Bureau to raise awareness and thereby induce demand for energy efficient equipments. He mentioned the benefits of Star rating given to White goods and the customers’ growing preference for the same .Similarly on the manufacturers front the Bureau is working to encourage them to use quality ingredients so as to produce efficient equipments economically.
The two day Seminar Cum Exposition covers all the aspects of Energy efficient Motors, Role of Instrumentation and EMS in monitoring and control, Air Compressors ,Pumps , Fans and Fluid Flow. Eminent speakers from reputed Organizations like Crompton Greaves, Siemens, Bharat Bijlee, ABB, Danfoss Industries, Godrej & Boyce, BHEL and Engineers India Ltd etc will discuss and share best practices in order to gain optimum benefits from the equipments.
In order to relate the learning with real life examples an impressive exposition of efficient equipments forms part of this seminar where participants got hands on information on various products for immediate implementation.
The seminar was attended by over 100 participants from a cross section of industries from all over the country. Top
Deter, detect and defend cyber crime
New Delhi, May 05, 2008:
"It is not only one company or organization, but the entire industry and consumers joining hands and taking collective responsibility which is required to tackle the growing menace of cyber crime", emphasized Mr Deepak Maheshwari, Director-Corporate Affairs, Microsoft India Pvt. Ltd at the Seminar on Information Security "Building Trust in Computing", organized by the Confederation of Indian Industry (CII), along with Department of Information Technology and Computer Emergency Response Team-India (CERT-In) in Mumbai.
Mr Maheshwari said that with more and more people having criminal background using internet, online security and online safety have gained paramount importance. "We must secure our computers with technology and act in ways that help protect us against risks that come with internet use", explained, Mr Maheshwari. He further detailed various steps like turning on firewalls, use of automatic updates, installing and maintaining antivirus and anti spy software to meet online risks and threats to computers, families and personal information.
Mr Mukund Pawar, Inspector with Mumbai Police – Crime Branch present at the occasion put forth the role of police and their endeavors in controlling, detecting, investigating and punishing persons involved in cyber crime. In response to queries on ways and means employed by Mumbai police to control cyber crime, Mr Pawar explained with the help of number of cases ranging from innocent cyber pranks to major cyber thefts, which the crime branch Mumbai police had registered and dealt, resulting in punishing the culprits. He assured the audience that the Mumbai Police was well equipped to tackle any threats in cyber crimes. He suggested the need to scale up this initiative of CII to reach out to more consumers. "Cyber culprits are from different strata of society which show the widespread reach of cyber crime", said Mr Pawar. He also released a resource kit consisting of a CD, posters and website which will be made available to school children as a part of this campaign.
Mr Vikram Shah, President – India Operations, NetApp said that "We must treat internet information as an asset. As individuals we are entrusting someone else with our online assets. Where some are trust worthy, others might not be", cautioned Mr Shah. He further mentioned that most of the companies now had training programmes and information systems for all employees, implying how companies are becoming sensitive towards security of information. Commending on the initiative taken by CII, Mr Shah stressed that it was a right step towards raising awareness among the youth and children, who are the potential targets of cyber crime.
Speaking on safeguarding online identities and fraud prevention was Dr Shekhar Kirani, Vice President, Verisign who said that phishing is a global threat where India is the third largest phishing sites hosting country. "Phishing sites have increased from 4000 to over 55000 in 18 months with the result that consumer distrust is growing at alarming speeds", emphasized Mr Kirani. He went on to explain various steps to be taken for identity protection like avoiding public unsecured computers for logging on to online banks accounts, ensuring the padlock sign on the sites, presence of security certificates providers seal on sites, among others.
"This CII effort is spread across six cities: Delhi, Mumbai, Kolkata, Chennai, Chandigarh and Bangalore. In these cities we will be reaching out to 30 schools targeting more than 3000 children. This CII imitative is designed to raise consumer awareness about cyber crime targeting the children and youth who are increasingly using online facilities", said Mr Vikram Tiwathia, Chief Information Officer, CII. Emphasizing the importance of safe online access and sharing, Mr Tiwathia said that information security is not as much of a technical requirement but a social aspect.
The Seminar is a part of the ongoing CII campaign, which brought together participants from the banking, finance, government and consumers to a common platform to share views, thoughts, experiences and solutions to safeguard the Indian economy from cyber crime. Top
CII launches capacity development programme in Innovation & Technology Management
New Delhi, May 05, 2008:
CII and Technology Management Programme of Department of Scientific & Industrial Research, Govt of India in association with Tanaka Business School, Imperial College, London have launched an executive programme in India. The programme, aimed at Indian executives, technologists and scientists is being held in Mumbai from 5-7 May 2008. The course on "Innovation & Technology Management" is designed to help managers develop an innovative culture in their companies using Technology as the key resource.
Professor Gerry George, who is co-teaching along with Prof. Nelson Philips (both from Imperial College , London), explains the course:
"Indian companies are increasingly aware that they need to move away from competing solely as the low cost supplier in the global market. Managers need to be able to create value through commercialising innovative ideas and being entrepreneurial and that's what these short courses will explore."
The programme has been developed in partnership with the Confederation of Indian Industry specifically for the needs of Indian executives and with technical support from DSIR. The main objective of the Technology Management Programme of the DSIR is to build technology transfer & management capabilities in the country. Towards this end, multi pronged measures covering a range of activities & programmes to foster innovation capabilities have been taken up. These include analytical reports, decision support systems, training, development of cases, pedagogic tools and curriculum development, apart from Chairs for nurturing research on these aspects. Centres for Technology & Innovation management are being established in different locations in the country to cater to regional needs. Beneficiaries include Industry, Entrepreneurs, Research & Academic Organizations & Govt. Agencies. Training on these aspects taking advantage of global perspectives being important, the Department has partnered this initiative.
Professor George said: "Working with the latest research findings, case studies on businesses that are innovating today and using guest speakers who have successfully managed innovation in their own organisations, we're delivering a great programme with the Confederation of Indian Industry & DSIR."
"I'm confident that every delegate at the event will leave with a clear view on how to best understand innovation strategy but also how to devise a strategic innovation plan for their own company," added Professor George.
The lecture series is the first open education programme of the newly formed Rajiv Gandhi Centre for Innovation and Entrepreneurship within Tanaka Business School. The programme has received very good response from Indian corporate and R & D Labs. More than 50 participants are attending the 3-day focussed course. More such programmes in this series would be soon announced.
The Centre has been set up with significant backing from the School and attracted several high profile corporate supporters, demonstrating the great importance of India in the world economy. The Centre has already formed partnerships with the Confederation of Indian Industry. Top
CII launches ten point agenda to help Manufacturing achieve 25% share of GDP by 2020
New Delhi, May 05, 2008:
Working towards a National manufacturing Policy, boosting the capital goods markets, opening up strategic sectors and developing visionary leadership, the Confederation of Indian Industry (CII) is embarking on a Ten Point Strategic Agenda this year to facilitate the Manufacturing Sector in achieving and sustaining 25 per cent share of the GDP by the year 2020.
This new, tactical approach evolved by the CII is aimed at taking the manufacturing sector up from its current range of 15-17 per cent of the GDP to 25 per cent over the next 12 years. Traditionally, manufacturing has enjoyed a 'cost advantage' due to labour arbitrage, but that advantage does not exist any more. CII plans to meet this challenge through this new multifaceted approach.
A key element of the strategic agenda is working towards the announcement of a National Manufacturing Policy. So far there is no clear definition of Manufacturing in the Policy framework of the industry. But with imports becoming a large component in sectors such as capital goods, and overtures to India to open up to Remanufactured Products, defining Manufacturing and giving a roadmap to strengthen the sector is now imperative and CII's Manufacturing Council is all set to work in this area.
A key bottleneck to meet the infrastructure requirements is energy. CII would be working towards opening up of strategic sectors such as Coal. CII has welcomed the Coal Report which has been accepted by the Ministry of Coal and the Cabinet. It would put into place an Apex Task Force on Coal to facilitate the implementation of this report. Dr Jamshed J Irani, Chairman, Council on Affirmative Action, CII & Director, Tata Sons who was also a member of this report would lead this initiative.
Indian Capital Goods sector needs a boost. India has become a large importer of capital goods and it is essential to build and retain competitiveness in manufacturing of strategic equipment as imports could lead to jeopardizing National Security. CII's new initiative focuses on this area and also on new opportunities in other sectors such as Space, Aerospace and Advanced Engineering and Manufacturing.
A new Mining Policy is on the horizon and implementing this policy would be key. CII proposes that the Steel and Mining industry work together to roll out guidelines that would lead to a win-win solution.
As part of this new initiative, CII's National committee on Chemicals would focus on opening opportunities and encouraging Indian Industry to evaluate the options of entering new areas such as water purification, nanotechnology and bio-fuels. The Committee has launched the project 'Include' to take this forward. A National Policy for this sector is being worked out in partnership with McKinsey and would be submitted shortly.
CII's National Committee on Textiles, Gems and Jewellery and Leather is looking at new venues such as Technical Textiles, where three events are proposed during this year in Surat, Tirupur and Ludhiana. The Gems and Jewellery sector is looking at accessing new sources for roughs and new markets while bringing quality to the domestic consumers through Hallmarking of Jewellery. For the leather sector, opportunities with Africa and accessing new technologies for treating sheep skins would be explored.
Additionally, CII's Visionary Leaders for Manufacturing Programme with a target to develop 500 Visionary leaders will lead resurgence of Manufacturing over the next three years. The CII Godrej centre of excellence in Vikhroli has developed worldclass infrastructure for training young leaders in creativity and innovation. This programme has been developed in cooperation with IIT Madras, IIT Kanpur and IIM Calcutta, and forms a strategic part of the Indo-Japan Cooperation agreement signed by the two Prime Ministers in December 2006.
The first batch of 80 participants is graduating in July 2008. A Visionary SMEs programme is to be launched in September 2008, and it would aim to impact 800 SMEs over the next three years through an intervention at the L M Thapar Centre for Competitiveness across the country. It aims at creating visionary 20 SMEs over a three year period.
A Global Mining Summit and three outbound international missions would work towards getting together the major players in the Mining sector which is now opening up, and we expect to see big players coming to the place.
Another initiative of the Manufacturing Innovation Mission of the CII, which is now into it's third year is setting up a new Association on Robotics and Automation would be kicked off to help Industry become more competitive in these areas as well as realize the potential projected in India.
For the first time this year, CII would also have a Apex Task Force on Corrosion to bring attention to one of the biggest wastes in the manufacturing sector to the front. An international conference on Innovation would bring the best expertise to India for assisting small, medium and large companies. Top
Working parents bearly spend 30 min with their kids-ASSOCHAM
New Delhi, May 02, 2008:
Working couple's in ruthless globalised corporate world barely afford to spend less than 30 minutes a day with their kids that are left to stay in utter isolation only to grow up into split personalities, is the sum substance of the latest study undertaken by the ASSOCHAM Social Development Foundation (ASDF), headed by its Chairman Mr. Venugopal N Dhoot.
The findings make grim reading for Working Parents who already worry that they spend too much of their time at work and too little at home. "Parents who work full-time just spend just 30 minutes every day "nurturing their own children", adds the ASSOCHAM Study, based on a random survey in which over 3000 working couples of various companies participated under aegis of the ASDF, sharing their concern for finding little time to rare their children.
Releasing the study titled "Plight of Working Parents towards their Children" the ASSOCHAM Mr. Dhoot who also heads the ASD said, "Overall, the typically 24-hours is mostly spent working, traveling, household work, watching television and sleeping. A working woman nearly spends 10 hour in office, over 2.5 hour in traveling, 6-7 hour of sleep, 3 hours working household like cooking, shopping etc and less than 1 hour of entrainment and hardly can spare 30 minutes to their kids."
Contrary to this, a working male spends more than 11-12 hours in office, over 2 hours traveling, 1.5 hours watching television and remaining 8 hours of theirs are spent sleeping. So, where is the time left out for him even to spend for more than half an hour with children, question the survey?
"Parents that work long or irregular hours are not available for children after school, and especially to help with the homework, not able to attend school functions or sports days and not able to do things together at weekends or eat together" says the survey.
It's serious findings are mind boggling as 90% of working couple said "today's working pressures have intensified so much that they have to stay back in their respective offices for more than 2 hours to finish off their daily and routine assignments as these can't afford to defer them for the following day that might bring them an adverse rating from their organizations. This calls for an earlier signing in and much later signing out, stated vast majority of working parents whose number exceeds 2,700 out of those 3000 that took part in the survey.
As result of above rigorous daily routine, over 85% of the respondents have given them a negative rating of bad parentalhood as compared to those single parent working under corporate culture have become unreasonably demanding and parents are working not only out of economic compulsion but also cash in on their technical and professional qualification.
Surprisingly, 75% of working parent curse them saying that even during weekend which in case of most corporates in only Sundays, the working couples hardly find leisure time to adequately look after their children and their legitimate needs because of meeting other deadline such as submission of bills, purchase of grocery items and other households obligation.
The survey asked parents to rate how good a job they are doing as parents, on a scale from 0 to a high of 10. Regardless of their employment status, most mothers tend to give themselves relatively high marks on this scale. However, the women who are hardest on themselves are full-time working moms. Just 10% of mothers working full-time give themselves the highest rating (2) as a parent; another 18% part time mother place themselves at the next highest mark (8), home mothers place at complete 10 marks.
Mothers see themselves in a better light, on average, than do fathers. Just 26% of Dads give themselves one of the two highest marks; six-in-ten put themselves at a seven or eight on this scale and the remaining 13% rate themselves at six or below.
Men are more likely than women to consider an at-home mother the ideal situation for children. The same gender difference is found between moms and dads with children under age 18; fathers of minor age children are more likely than mothers to consider an at-home mom the ideal situation for children
The survey indicates that ideally most mothers with young families would prefer to stay at home and look after their children. It shows that just 21% wanted to work full-time. 60% wanted to combine bringing up their children with a part-time job, while 19% wanted to be a full-time mother. 19% said they wanted to be a "housewife and mother". The most popular response, given by 60%, was to be a "mom who works part-time".
The finding of the survey also show that life is also extremely tough for fathers with young families, particularly those whose youngest children is under the age of four. They sleep less, works more and do more "domestic" work than any other "type" of man, such as one with older children or one with no children.
In a survey of working mothers and fathers in mid- to senior-level management positions at companies in the metros like Delhi, Mumbai, Bombay, Bangalore, Kolkata, Chandigarh, Lucknow etc. nearly 90 percent of the respondents reported that, if there were no obstacles, they would work either full-time, part-time or under a flex-time arrangement (reported by 31 percent, 26 percent and 33 percent of respondents, respectively). Just 11 percent said they would not work at all.
Mothers with younger children (ages 0 to 4 years) also are less likely to prefer full-time work 16%, prefer part-time work 48%, while 36% prefer not working outside the home. The preferences of mothers with older children (ages 5 to 17) are likely to prefer full-time work 36%, less likely to prefer part-time work 26%, while 42% prefer not working outside the home.
"The survey also found that when parents are out, children are more prone to turn on their electronic gadgets such as TV, computer games, DVD etc and stimulate tend to chew junk food rather than opting for outdoor activities which can keep them mentally agile and physically fit, said Mr. Dhoot.
Among working mothers with minor children (ages 17 and under), just one-in-five (21%) say full-time work is the ideal situation for them. Fully six-in-ten of today's working mothers say part-time work would be their ideal, and another one-in-five (19%) say she would prefer not working at all outside the home.
There's been a similar shift in preferences among at-home mothers with minor children. 16% of these mothers say their ideal situation would be to work full time outside the home, Nearly half (48%) of all at-home moms now say that not working at all outside the home is the ideal situation for them.
Part-time work is also the preferred option of (62%) of mothers who work full-time and a third (45%) of mothers who don't work outside the home. It is much less popular among fathers; about seven-in-ten (78%) men with minor age children say that full-time work is their ideal situation, while 18% say they would prefer to work part-time and 4% say they would prefer not working outside the home.
However, single mothers are much less likely to prefer full-time (22%), part-time work (48%), while 30% prefer not working outside the home. Single mother who work full-time spend less than 20 minutes every day caring for her own children.
At-home mothers (44%) are more likely than employed mothers (30%) to say an at-home mom is the ideal situation for children. The at-home group is narrowly divided over whether part-time (41%) or no outside work (44%) is the ideal situation for children. Just one-in-ten says a full-time working mother is ideal for the children.
A majority of working mothers (58%) say that a mother working part-time is ideal for children. Three-in-ten (42%) say a mother who doesn't work outside the home would be ideal for children and about one-in-ten (11%) say that a full-time working mother is ideal for children
The survey also highlighted the working father view, " About four-in-ten (52%) adults say an at-home mother is the ideal situation for children; a nearly identical proportion (42%) say a mother working part-time is ideal and just 6% say a mother working full-time is ideal for children.
