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Business Today

Business Today 28-Jun-20

A leading business magazine read by the business leaders for staying ahead and managing challenges that comes right away in the ever changing world of business.

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26 Issues

in this issue

3 min.
metamorphosing reliance

Companies age just like humans. They get stiff and unresponsive, decision-making slows and stubbornness grows. Disabilities eventually consume the human body but firms have the good fortune to carry on. Provided, they change with the times. Yet, organisations are the toughest to change. The older they are, the harder it gets. Those that manage to transition often have longevity way beyond their peers. One such dramatic transformation is underway at the 54-year-old Reliance Industries, India’s largest and most valuable firm that could enhance its longevity beyond the oil business. The company’s 63-year-old Chairman Mukesh Ambani – at the helm since 2002 – is in a tearing hurry, driving the metamorphosis of the oil and petrochemical giant into a technology firm. He has ploughed in more than ₹6 lakh crore in a…

9 min.
how to make ftas work

On March 6, Commerce and Industry Minister Piyush Goyal made a candid admission on the floor of Parliament. He told the Rajya Sabha that India’s Free Trade Agreement (FTA) with the 10-country ASEAN (Association of South East Asian Nations), its biggest trade pact so far, has increased the country’s trade deficit with them. India’s trade deficit with ASEAN was $5 billion at the time of implementation of the FTA (FY11). In FY19, it was $21.8 billion, a four-fold increase, he said. The discomfort with large trade agreements like the one with ASEAN was visible in November 2019 too when India walked out of talks for the Regional Comprehensive Economic Partnership (RCEP) – seen as leading to create the world’s largest economic block – signed among 16 East Asian economies, including…

1 min.
fixing the trade imbalance

ISSUE: Asymmetrical tariff commitments; India gives too much without commensurate gains SOLUTION: Renegotiate tariff rates ISSUE: Non-tariff barriers like phyto sanitary measures, residue limits, etc SOLUTION: Mutual recognition of standards ISSUE: Entry barriers in services SOLUTION: Reciprocal visas, job permits, recognition of degrees and certificates ISSUE: Insufficient data, especially in the case of services sectors like tourism SOLUTION: Be ready with data to understand strengths and weaknesses ISSUE: WTO-plus rules SOLUTION: Stay away from provisions that can have long-term adverse impact…

6 min.
suspended ammunition

3,009 registered insolvency professionals 69 registered insolvency professional entities 3,030 registered valuers 1 Information Utility Source: IBBI Date as of 31 March 2020 The government’s move to suspend the insolvency and bankruptcy law for six months to one year has put stakeholders of the insolvency regime in a bind. Many of them – insolvency professionals (IPs), insolvency professional entities (IPEs), valuers, lawyers and others – face uncertain times. An IPE is a legal entity of IPs, who are its partners/directors. Its objective is to provide support services to IPs, who run companies under insolvency and are appointed by the Committee of Creditors. Many of these professionals/entities have invested a lot in creating infrastructure, systems and networks to deal with insolvency cases. Over the last four years – the Insolvency and Bankruptcy Code (IBC) came into effect in…

22 min.
reinventing reliance

In a quarterly video conference with executives in 2012, Reliance Industries (RIL) Chairman Mukesh Ambani started with a warning — “What has brought us here will not take us to the future.” He was concerned that Reliance’s mainstay business of crude oil refining and petrochemicals could lose sheen amid push for renewable energy, electric mobility and growing global trade tensions. So what should RIL do? About a year back, in 2011, Ambani’s daughter Isha had sowed the seed of a new business, though. Home from Yale University for a holiday, Isha decried poor broadband speeds in India. Until then, even though Ambani had already planned entering telecom by acquiring Infotel Broadband Ltd in 2010, his mind hadn’t quite zeroed in on the huge digital and telecom opportunity due to pent-up demand.…

2 min.
next in line

ISHA AMBANI: Branding Princess It was Isha ambani’s complaint about slow internet speed at home in 2011 that made Mukesh Ambani realise the full potential of data business. She was also the force behind Reliance Retail’s fashion portal Ajio.com. A graduate from Stanford & Yale, Isha is on the Schwarzman Center Advisory Board at Yale. She is in charge of branding and marketing at Reliance Jio and Reliance Retail. She is passionately involved in customer experience. Isha and her twin brother, Akash Ambani, presented Reliance Jio’s business plan at the AGM in August 2019. She recently set up Reliance Arts Foundation to showcase the best of Indian art. Isha has also taken over some of her mother’s responsibilities at Reliance Foundation. AKASH AMBANI: Tech Buff Over the last couple of years, RIL has completed…