Service Industry

NEWSLETTER

Volume 2, Issue 1, January 2018

EDITORIAL The Service Industry is one of the dominant sector (tertiary) among all primary, secondary and tertiary sectors. It contributes about 53.6 percent (as per ibef.org.in)of its gross value added in 2016-17 and employed 28.6 percent of the total popula-tion. Service Sector of India covers a wide variety of sub sectors like tourism, hotel and restaurants, transportation, storage and communication, finance, banking, in-surance, real estate, business services, community, social and personal services and services associated with construction. By the year 2020 the share of Service Sectors to the GDP of India is expected to be 62 percent. Indian Government recognizes the importance of promoting growth in services sectors and provides several incentives in wide variety of sectors such as health care, engineering, tourism, education, in-formation technology, transportation, finance, banking, management, etc. Even the Prime Minister Shri Narender Modi has stated that our priority shall be to work towards trade facilitation agreement for services. One of the growing sectors of the Service Industry is ecommerce, which has revolutionized the retail chain function-alities in the country. Amazon, Flipkart, snapdeal ets are some of the names which are changing the traditional trade methods. Being one of the most populous coun-tries in the world, service sector is the only sector where our population can be giv-en the maximum employment. IT and ITES sector is also one of the major contribu-tor to the service sector in India.

900 more carriers to be inducted in Indian skies In the coming years, Indian skies shall see more than 900 aircrafts, as per the official data out of these 900 aircrafts, with an existing 150 planes Indigo Airlines alone ex-pected to add 448 more planes which include 399 A320s and 49 ATRs. With second largest population nation with fastest growing aviation markets most of the airlines are very ambitious for Indian skies. Even Indigo, Spicejet, GoAir and AirAsia are expected to increase their fleet size. The no frills airline Spicejet with its current fleet size of 57 planes would be adding 107 B737-800s and 50 Bombardiers Q400s during the period of next five years. GoAir with present fleet size of 34 would induct 119 A320 planes during the period 2018-2022. Private Airlines in India tagged as unsavory, uncoop-erative by Parliamentary panel. A parliamentary committee on Transport, Tourism and Culture took a tough stand against the private airlines op-erating in Indian markets and called some of the big names as unsavory, rude, uncooperative with the passen-gers. One of the member of the committee mentioned that the staff of these airlines poses as if they are on high grounds and the passengers are their herds or they are travelling first time. Occasionally, they are seen to mur-mur ‘please’ and ‘thank you’, otherwise they are very rude to the passengers. The level of the Ground staff is even worse than Cabin Crew. To counter this the Presi-dent of Indigo Airlines, Mr Aditya Ghosh, apprised the committee that airline is hiring the staff from tier II and tier III cities of the countries. It is very difficult to train the youth studied from Government Schools or Mohalla Schools in soft skills including speaking in English in 4 or 5 weeks training. For this the committee replied that it is not true, Government institutions have produced best manpower, and it is advisable to airlines to spend some proportionate amount from the profit on the training of their staff. Virtual Data Center for the prospective bidders of Air India Air India has decided to give access to the virtual data center to all prospective bidders by signing non-disclosure agreement. With the access of this virtual data center the bidders can get the access on all relevant infor-mation on assets, liabilities and contracts signed to date. This would also serve as one stop answer for all the ques-tions of the bidders. This access slightly shows the lack of management in setting up the contracts with the vendors as well as the employees which is very much streamlined in case of private airlines. It is not mandatory to be a bid-der after getting the access to this Virtual Data Center. As

of now the Indigo Airlines seems to be the strong bidder for the debt laden Air India. Tata sons also shown some interest to be one of the bidder for this. Air India has total debt of Rs 52000 Crores of which about Rs 33000 crore is on account of working capital loans. Civil Aviation Ministry directs DGCA to act strict against the lawbreakers In the last two months Indigo, Vistara and Jet Airways are in the controversies related to the breaking or rules and laws of civil aviation. Recently in the flight of Jet airways from London to Mumbai, Pilot of the flight slapped the Co-pilot for which she rushed out of the cockpit with tears. The crew members reported that both the pilot and co-pilot are in relation, when the co-pilot refused to get back inside the cockpit ever after the call from pilot, the pilot comes out of the cockpit leaving plane on auto pilot mode. As per the rules it is mandatory for the both the pilot and co-pilot to be inside the cockpit during the entire journey of flight. According to the officer, the aviation watchdog DGCA has asked Jet Airways to expedite its enquiry into the matter. In November, a vide emerged showing an IndiGo ground staff restraining and manhan-dling a passenger. In December a businessman was arrest-ed for allegedly molesting a teen Bollywood aboard an Air Vistara flight. 1000 flights to be affected during republic day celebra-tion rehearsals Delhi International Airport Authority has rescheduled as well as cancelled about 1000 flights during the rehearsal of 26 January 2018 parade. No International flight would be cancelled but some of them would be rescheduled. Air-

port Authority of India has issued NOTAM (Notice to Airmen) that no flight from or to Delhi International Air-port will be allowed between 1035 hrs to 1230 hrs from 18 January to 26 January.

AIRLINES

Quote of the Month “Success is no accident. It is hard work, perseverance, learning, studying, sacrifice and

most of all, love of what you are doing or learning to do.” PELE

Year 2018, will be the year for travel technology buy-ers to prioritize spend on customer experience Travel Technology Europe has shown the survey accord-ing to which despite facing serious challenges in the back-office, travel and hotel technology buyers will be priori-tizing spend on new technologies that improve the cus-tomer experience in 2018. Some of the top areas for spending in new technologies are Content Marketing, Payments, Guest facing experiences, Mobile channel, Se-curity systems, Artificial intelligence, Block chain and Virtual Reality. For achieving the new technology roadmap many companies face major problems like Budget, Resources, Existing infrastructure, Slow adoption levels of new technologies and getting senior level buy-in for new technology. UNWTO General Secretary adieu with applaud for 2017 as International Year of Sustainable Tourism for Development UNWTO General Secretary, Mr Taleb Rifai, during the

launch of Tourism and SDGs’ report at the closing cere-mony of the year in Geneva on 19 December, said the International Year of Sustainable Tourism for develop-ment will not end with December 2017. The work done during the year 2017 with everyone’s effort for sustaina-ble development needs to be sustained and expanded to ensure effective tourism contribution to the 17 SDGs. He also mentioned that year 2017 was also a momentous year for him personally as it was the last year of his mandate as UNWTO General – Secretary. Over 12 years at UN-WTO he has seen tourism become one of the world’s most important and impactful socio-economic transform-ative forces of the times. And at the end he wish Mr Zurab Pololikahsvili the incoming Secretary General eve-ry success in continuing to drive the sector forward to a better future. Bangkok ahead of London, Paris and Singapore dur-ing 2017 The Capital city of Thailand hosted nearly 20.8m tourists in 2017 and ahead of London, Paris and Singapore ac-

cording to Mastercard’s annual list. The Ratchaprasong area of Bangkok where the super luxury mixed-use devel-opment is located, had shown increase by about 30 per-cent from 600,000 visitors to 780,000 visitors during the Greeting Festival as they come to shop, celebrate the countdown and saw the stunning 3D light art installation projection. As per the Tourism Authority of Thailand, foreign and Thai tourism spent some THB 15.56 billion from December 29 to January 2, 2018. At Ratchaprasong area the lighting performance embodied thai character and the cultural pride, it highlighted Bangkok’s status as an international destination for leisure and business trav-elers, and also for luxury property investors. Record 2.43 lakh visitors in Nagaland’s Hornbill Fes-tival There is a sharp climb in the numbers of the visitors at-tending 10 days Hornbill festival in Nagaland compared to last year. Mr Toka E Tuccumi, Tourist Officer of the Department of the Tourism of Nagaland said a total of 2,43,214 visitors including 2,401 foreign tourists, 38,700 domestic and 2,02,113 locals attended the festival. Last year the no. of the visitors were 1,12,604. The 10 days festival was inaugurated on December 1, 2017 coinciding with the statehood day of Nagaland by president Sh. Ram Nath Kovind. This festival is designed in such a manner that it coincides with statehood day celebration which gives an opportunity to all the Naga tribes to converge at one location to showcase the best of their tribal costumes, songs and dance. Kumbh Mela Logo released and to be promoted in all places in UP UP Govern-ment has di-rected all the officials to use the logo to Kumbh mela to be held in Janu-ary 2019 at Sangam Al-lahabad on all letterheads as well as all promotional material like hoardings, pam-phlets etc. Even in the cinema halls it is mandatory to show logo of Kumbh Mela after National Anthem. The logo contains the group of sages taking dip in Sangam and sign of Swastik in it. The name of this mela has al-ready been changed from Ardh kumbh to Kumbh Mela. Around 12 crore visitors are expected to visit Kumbh Me-la in January 2019. Nearly 2500 Crore Rupees will be devoted for the Kumbh Mela in Allahabad.

TOURISM

Unexplored Destination of the Month MASRUR: It is in Himachal Pradesh (Kangra), and is famous for the only mysterious

monolith temple of North India (Other one is in South, Five Ratha Temple).

Shortage of around 2 lakh hotel rooms for tourists in India As per one of the report of the working group on tourism for the 12th five year plan (2012 – 2017) for the projected annual growth of 12% in Foreign tourist arrival the pro-jected requirement of additional hotel rooms in 2016 over 2010 was estimated to be 1,90,108. The total no. of for-eign tourist arrival in India during the period (Jan – Nov 2017) was 90.01 Lakh, which was 77.83 Lakh during same period last year, which shows the growth of nearly 15.6% growth in FTAs. Due to this growth the shortage for the hotel rooms intensified and crossed more than 2 lakhs. Instead of building new hotels government is en-couraging homestays and exploring new alternatives. The ministry of tourism is also working on creating five spe-cial tourism zones in the country so that these areas can be developed into tourist hotspots. New Maharashtra Shops and Establishment Act bene-ficial for Hotel Industry The New Maharashtra Shops and Establishment Act 2017 (Regulation of Employment and Service Condition) al-lowing shops, hotels, restaurants and malls to remain open round the clock in three shifts. Wineshops, Disco-theques, Bars and pubs will continue to function in re-stricted timings. With 24X7 shifts hospitality industry is eyeing for better business from this year. As per the hotel and restaurant association of western India, the job oppor-tunities may go up by 25% in the state because of this amendment in the act. This move is very beneficial in the commercial areas where all night food joints and shops selling essentials are require 24X7. Digital Marketing can help Hotel to manage distribu-tion Distribution in Hotel Industry could be direct or through third party. Both options can be well undertaken digitally. In case of third party, hotels can get the customers who are very much loyal to the third party and assume the

third party as reliable. The online travel agencies act as the third party distributors for the hotels. Secondly hotels can get the customers directly through its website. For the good business it is advisable to maintain both the routes for the distribution for any hotel. There are some tips from various sources to convert an interested party to a confirm guest and maximize all opportunities to drive additional revenue during a stay and even after checkout like Keep the website simple, Get sociable, Invest with the right technology partner, promote your business part-ners or third party etc. Fourth Season of the International Young Chef Olym-piad (YCO) The IIHM will organize the fourth season of International Young Chef Olympiad from January 28 to February 2, 2018. Participants from more than 50 countries will take part to compete for the winner’s trophy and a cash prize of $10,000. The event is supported by Ministry of Tour-ism, Government of India with other state tourism depart-ments. 10 celebrity chefs from across the world will judge

the winner of the tournament. This 2018 Olympiad has three rounds as compared to four rounds last year. The opening ceremony will be held at Talkatora Stadium New Delhi and the first round of the competition for each team will take place in Delhi, Pune and Bangalore. Year 2018 will be debut for Marriott for 40 luxury hotels across 8 brands With the network of hotels and resorts in 60 countries, Marriott International is set to expand yet further with 200 hotels in the development pipeline, representing 25 new countries from Iceland and Nepal to Cuba and Phil-ippines. In 2018 Marriott International Inc. is set to open nearly 40 luxury hotels. The Ritz- Carlton with 94 hotels in 31 countries and in 2018 it will debut six exciting loca-tions, including China’s historical city Nanjing. St. Regis Hotels & Resorts with 42 hotels in 21 countries is sched-uled to celebrate the renovation of the St. Regis Rome as well as in Cairo and Amman in 2018. With 79 hotels and resorts today in nearly 30 countries including the recent openings of JW Marriott properties in Vancouver, Jaipur and Phu Quoc and island oasis off the coast of Vietnam.

HOSPITALITY

Personality of the Month SALIL PAREKH: The new CEO and MD of Infosys and Alma mater of IIT Bombay. He has

experience of nearly 3 decades in IT and expected to deliver his best for the company.

Year 2018 shall be the year of transformation for Digi-tal Media and Entertainment Sector The high speed data connectivity in India pave the way for the revolution in digital media. Players like Reliance Jio and other telcos who provided 4G connectivity to the users in much cheaper price, this also lead to less expen-sive 4G handsets available for the users. Due to this revo-lution in data speed and connectivity the Amazon Prime Video, Netflix and Hotstar growing bigger and expected to expand more in 2018. As for International music streaming apps, analysts expect Apple Music and Spotify will invest more in user acquisition in India this year. Apple Music made small investment in the Indian market and Indie artists in 2017. By 2022 the Indian Media & Entertainment business to be around Rs 2.26 lakh Crore. Media & Entertainment Industry in India is poised to grow at a CAGR of 14.3 percent to INR 2260 billion by 2020, led by advertising revenue which is expected to grow INR 994 billion at a CAGR or 15.9 percent. Mobile and Video advertising would be scale up in 2018 as well. As per one of the reports M&E Industry would almost double to Rs 2.26 lakh crore in next five years, mainly led by growth in advertising revenue which is expected to touch Rs 99400 crore by 2020. Films are expected to grow at 10.5 percent CAGR. Due to growing regional markets with rural demand expected to be strong print growth expected to grow at 7.8 percent. Last year digital advertising was more than 8100 crore and is expected to be around 25,500 crore by 2020. Where as radio advertis-ing touched around 2400 crore and expected to touch Rs 4330 crore by 2020. New Trend of converting poetry into soulful songs Delhi based young singer, songwriter Chinmayi tripathi has started very unique but the good style for her singing. In the past as well the poetry of Amir Khusrou, Mirza Ghalib, Kabir etc were used to weave a good song. But

with the time it is diminishing day by day. There are very less people who are still using the couplets of the poems of these great poets in their songs. Unlike new generation Chinmayi Tripathi in late October has released her album of the songs in which she has recited the poems of Ramdhari Singh Dinkar, Mahadevi Verma, Harivansh Rai Bachchan, Anamika, Maithili Sharan Gupt etc. These po-ems are very beautifully woven in folk as well as in clas-sical style by this young artists. Assam Chief Minister invited Tamil Film Makers to make film in Assam As a prelude of Global Investor Summit to be held on 3rd and 4th February in Guwahati, Assam Chief Minister Mr Sarbananda Sonowal visited Chennai and met potential investors there. He also pithed for the Tamil Film Indus-try to shoot Films in Assam. He invited the directors, pro-ducers as well as financers to visit Assam and use the lo-cale of Assam for their films. He is planning to offer some attractive packages for the investors from the Tamil film fraternity. Tollywood is one of the film industries beside Bollywood in India who have the potential to in-vest in Assam or any other location and contribute in the economy of that place. Powerful speech by Operah Winfrey in Golden Globe Awards

Operah Winfrey has became the first black woman to ac-cept the Cecil B. Demille award in the Golden Globe awards in Biverley Hills. She accepted the multiple stand-ing ovations from the audience during her speech. She said the time is up for the abusive men in the industry. She is one of the all time favorite and best host of any TV talk Show. She expressed gratitude to many personalities in her speech who did well and show respect to their col-leagues. She got her start in television journalism also thanked the Hollywood Foreign Press Association which gives out the Golden Globes. After delivering a powerful speech many celebrities and Operah fans showed support by making #Oprahforpresident trend on Twitter.

MEDIA & ENTERTAINMENT

Did you Know Switzerland eats the most chocolate equating t 10 kilos per person per year.

10000 Jobs in small towns are created through Gov-ernment BPO Schemes The Ministry of Electronics and Information Technology

apprised the two of its BPO Schemes that could generate more than 10000 jobs in smaller towns in India. The India BPO Promotion Scheme and North East BPO Promotion Scheme Provided Employers with an incentive of upto Rs 1 Lakh per seat in the form of Viability Gap Funding. Many BPO have already shifted their processes to cheap-er countries. The Minister of Communication and Infor-mation Technology and Law & Justice, Sh. Ravi Shanker Prasad called the schemes and its initial success a “text book case of digital inclusion being achieved”. Most of the citizens are worried about the protection of the Aadhar detail: Survey In one of the surveys conducted over 15000 citizens, about 52 percent are worried and not sure whether the UIDAI can protect their data of Aadhar detail from hack-ing. The survey conducted by the citizen engagement platform local circles to find citizen’s take on cyber secu-rity mechanism to protect their data said that 20 percent were ‘somewhat confident’, while 23 per cent were ‘quite confident’ about UIDAI being able to protect their Aadhar detail from hackers and information sellers. In the second question in which it was asked should there be any penalty for breach of any Aadhar detail. 14 percent were with opinion for 2 years imprisonment and 11 percent for 1 Crore fine and 75 percent for both. New Mobile Malware warning issued by the Banks The Quick Heal Security lab has issued an advisory that it

has detected and Android Banking Trojan that targets over 232 banking apps, includ-ing those offered by

Indian lenders. The Malware is know as An-droid.banker.A2f8a. The mechanism of this Malware is that it sends the messages (resembling bank messages) to the clients and asks them to login their bank credentials. It also blocks the messages sent by the banks and use one time password of the clients. As per one of the Bank Offi-cial, ‘For mobile applications there are no standards as such but there are best practices available for secure cod-ing’. The mobile apps issued by SBI, HDFC, ICICI, IDBI and Axis with others are more prone to this Malware. Digital Transactions Cross 1 billion mark in one month during December 2017 Since Last year smartphone based transactions showed strong growth, traditional card payments also grew at 8% month on month. For the first time the digital transaction within the month cross the mark of 1 billion. During De-cember 2017 1.06 billion transactions have been record-ed. The growth has been driven by strong show from all forms of Payments (UPI), IMPS cards as well as wallets.

The payment mode which got a huge boost post demone-tization has been riding a spectacular growth wave assist-ed by entities like Paytm and Google Tez joining the bandwagon along with players like PhonePe and govern-ment promoted BHIM. Chat on Mobile app without sharing the mobile num-ber “Hike Messenger”, India’s own messaging app launched “Hide ID” with a unique identity that lets the users chat on the platform without sharing their mobile number, thus maintaining privacy. Anyone can search his / her friend, relative or any person with Hike ID (name). There is no need to save anybody’s number first and then add for the chat anymore. Android users will be able to create and share their “Hike ID” very soon. For iOS users also it will be rolled out. Cab bookings, bus, train, movie tickets and pay bills shall be the next move of Hike in the first quar-ter of 2018.

IT & ITES

App of the Month

GOOGLE DRIVE SUITE include Docs, Slides, Sheets, Photos and Google keep along with

actual Google Drive app itself.

Big move of the Cabinet allowing 100 percent FDI in Retail Sector In one of the biggest move in Single Brand Retail Trend-ing, Cabinet meet chaired by Honb’le Prime Minister Narender Modi, approve 100 percent Foreign Direct In-

vestment to liberalize the foreign investors. This move shall generate as well as increase the inflow of Foreign Exchange in the domestic Market. As of now, only 49 percent FDI was allowed through automatic route where-as more than 49 to 100 percent was allowed with the ap-proval of the Government. But after the node of the Cabi-net, from 1 April, 2018 foreign investors can invest 100 percent through automatic channel in Single Brand Retail Trending. For the first 5 years they have to do 30 percent purchase from Indian Market against the mandatory sourcing requirement. The Confederation of All Traders (CAIT) opposed this move of the Government Bigbasket partners with Sodexo to smoothen the oper-ations The New Year Gift for all the bigbasketeers was the part-nership between the Sodexo and Online Supergiant Bigbasket. Now they can use their Sodexo meal Card to shop for fresh and packed foods, and non-alcoholic bever-ages on bigbasket.com. As per the officials of Bigbasket, this is a critical partnership for Bigbasket and a step fur-ther in ensuring customer satisfaction and delight. Where-as in the opinion of Sodexo officials, the partnership with bigbasket was a specific request from sodexo consumer-because they are short of time and also seek convenience for purchasing food. With the help of this partnership the large base of 3 million customers of Sodexo shall be ena-ble quick, hassle-free payments. Chandigarh is ready to host Swiggy for its operations in the city beauti-ful Food Ordering and delivery platform Seiggy has expanded its service to the City Beautiful with its tie up with over 250 restaurants in the city. Some

of the names tied up are trendy cafes, ice cram parlours, Quick Service Restaurants in the city. Swiggy has more than 20,000 restaurant partners across eight cities in the country including Mumbai, Delhi-NCR, Bengaluru and Chennai. It has gained substantial market share and was last valued at US $400 million when Naspers led a US $80-million investment in May. Beside Chandigarh, it will soon expand to the neighboring areas Panchkula, Mohali and Zirakpur. 5% of global revenue of Lotte Confectionary seeks from India The South Korean Company Lotte Confectionary Co. has made India as its global hub for Lotte Choco Pie. The Company hopes for 5% its global revenue to be earned by Indian Market from its current contribution of 2% by the end of the decade. Choco Pie was built in India. Lotte invested in brand promotion and building an equity for itself over 10 years, grabbing 95% market share. Howev-er, this was not enough as per the president of Lotte con-fectionary Co Ltd Yong Su Kim. Lotte may invest in F&B and Hospitality as they are more keen to Indian mar-kets. Flipkart emerged as dominant player in the online fashion retail space Flipkart’s fashion business had caught up with the market leader Myntra and emerged as dominant player in the online fashion retail space. Including sales from Jabong (which Myntra bought in 2016), Myntra still remains larger than Flipkart’s fashion business. Flipkart claims that it had surpassed its competitors in online fashion business. However, Myntra is owned by the Flipkart, still it competes separately and place itself ahead of Flipkart with other top brands like Adidas, Puma and Nike.

RETAIL

Brand of the Month The Tata Group is India’s most valuable brand, followed by Reliance and Airtel for the

year 2017.

MICE New International Exhibition Convention Center at New Delhi Very soon the capital city of India will have its best state of the art International Exhibition Convention Center at Pragati Maidan. The project is of around 2600 crores and 50 percent shall be financed by India Trade Promotion Organization (ITPO) and balance through long term loan from financial institutions with Government guarantee, or through soft loans, external aid and land monetization. This new International Exhibition Convention Center at Pragati Maidan shall be redeveloped and constructed by Engineering and Infrastructure Giant –Shapoorji and Pal-lonji first time after its construction in 1952. It is expected to complete by October 2019. It shall have the convention center with a capacity of 7000 people and parking space for about 4800 vehicles. Wellness & Medical Tourism Food and Medical Tourism with Homestays were the most popular trends in India during 2017 As per travel portal Yatra.com, the Indian travel market is estimated to be $30 billion in size and continues to grow in double digits. In the year 2017 due to the afforda-ble airfares and affordable hotel pricing Indians travelled more frequently than before. This year has seen more number to tourists exploring the options of Homestays in Goa, Kerala, Coorg and Pudduchery. With Government extending e-visa facilities to a large number of countries it has led the positive inbound tourism. The number of Medical / Wellness travellers were in upswing in 2017 from the neighboring destinations of Bangladesh, Nepal and Bhutan. Agro Services The World bank funded agribusinesses with Rural transformation project shall be started by Assam Gov-ernment Recently Assam Government started a World Bank fund-ed project, Assam Agribusiness and Rural Transformation Project (APART). As per the Chief Minister Mr Sarba-nanda Sonowal this project will help to uplift the Agri-business in Assam and Inspire the farmers to adopt new technology to increase the production. This project will help to transform the agribusiness by turning farmer from single crop to multi crop business and which will also helpful to increase the employment opportunities in rural areas. This project will supplement the other rural pro-jects of the state like Chief Minister’s Samagra Gramya

Unnayan Yojana (CMSGUY) etc. Logistics and Distribution For Slump hit B2C firms, Diversification would be the next logistic move Due to the slump in ecommerce logistic companies en-gaged in Business to Consumer, firms diversifying their offerings with top online retailers like Amazon and Flip-kart in sourcing more than half of their logistical require-ments through Amazon Transportation Services and eKart respectively. As per the KPMG report the ecommerce logistic market in India pegged at $0.46 billion in 2016 and is expected to grow to $2.2 billion in 2020 at a CAGR of 48%. The B2B logistics market, on the other hand is currently estimated at $20 billion. Delhivery, Xpress-Bees, Loadshare and Shadowfax like players have extended their offerings to the Business to Business seg-ment. The B2B business was the only natural extension for these companies for the fast growing business. Real Estate and Infrastructure To boost investment, Government move to relax FDI for real estate brokerages The Cabinet through an amendment to FDI policy has clarified that Real Estate broking services would not be classified as Real Estate Business. Companies undertak-ing such activities are eligible for 100 percent FDI under automatic route. According to experts, this move would help in formalizing the largely unorganized segment, cre-ate more jobs and offer professional services to property buyers. Prior this also FDI route had existed in previous years also, allowing various multi national property con-sultancies to enter India without local partners. But the route was closed without notice or explanation. This deci-sion was long overdue and the clarity would help in future alliances between international and domestic players. Banking, Finance and Insurance Shrinking presence of foreign banks in Indian market The domestic competition between public and private banks as well as insurance companies was well seen in the previous years. Due to this healthy competition be-tween them many of the foreign banks and financial insti-tutions are shrinking their presence in Indian Markets. While many of them have sold some of their businesses in India as a part of their global strategy, some are trying to keep their core expertise intact. Some of them even branching out to newer areas to continue business mo-mentum. Like Barclays Bank in India has got out of the retail business, and other banks are also closing their new ventures in India.

MISCELANOUS

Best state of the Month Maharashtra with 13% growth rate and 14% its contribution to the country GDP is the best state for overall development for the year 2017.

1. Name the 100th Satellite launched by ISRO in January 2018? 2. Name the first Indian lady senior layer who has recently selected as Supreme Court Judge directly? 3. Which Newspaper was the first to expose the breach in Aadhar Data? 4. 75th Annual Golden Globe Awards were held in which city of America? 5. Jaguar—Land Rover is owned by which Group? 6. Which Airline recently fired its pilots for brawling and leaving cockpit unattended during flight? 7. Name the airline which was hijacked by the terrorist in which Neerja Bhanot got Ashok Chakra for her bravery posthumously? 8. Who is the new ISRO Chairman? 9. Recently Cabinet has approved what percentage of FDI for single Brand Retail Trending? 10. H1-B Visa is issued by which country for the Indians? Answers of Quiz 2 will be shared in next edition at the end of Quiz 3 Answers of Quiz 1 (Dec 2017) 1. 53.66% , 2. Scandinavian Airlines (SAS), 3. Hyderabad, 4. Marriot International, 5. Mother India (1957), 6. Lary Page and Sergey Brin, 7. USA, 8. Salil Parekh, 9. Food Safety and Standards Authority of India, 10. Nabisco and Cadbury WEB REFRENCES

www.businessworldtoday.in

www.zeemusic.com

www.economictimes.com

www.livemint.com

www.indiaretailing.com

www.business-standard.com

www.miceworldindia.com

www.aviationindia.net

www.businesstoday.in

www.breakingtravelnews.com

www.ndtv.com

www.traveldailynews.com

www.traveldailymedia.com

www.hospitalitybizindia.com

www.timesofindia.indiatimes.com

www.ehotelier.com

www.hotelierindia.com

www.moneycontrol.com

MONTHLY SERVICE INDUSTRY QUIZ 2 (JAN 2018)