With MBA from US, Indians return to do business at home

July 27, 2012
MBAUSA

Mumbai, July 27: More and more Indians graduating from top global business schools, including Wharton, Harvard and Stanford, are spurning traditional job offers in favour of starting up new business ventures back home.

Wharton's MBA batch of 2012 had 70-80 Indians, of which 10-15 turned entrepreneurs. And in the current class of about 100 Indians, 15-20 are already entrepreneurs or are actively working towards founding their own businesses, according to ET estimates based on interviews with 10 alumni. Such instances were uncommon even as recently as 2009.

Harvard Business School saw 5-6 out of 30-35 Indian students turning entrepreneurs from its class of 2011, according to alumni estimates. It hardly had any Indian entrepreneurs five years ago. Similarly, Stanford's B-school saw a record-breaking 16% of its class of 2011 starting their own firms, with a significant number of Indians in the group.

"Global B-schools expose them (Indian students) to a strong entrepreneurial architecture with a greater number of role models, success stories and potential investors," says Kunal Bahl, founder and CEO of SnapDeal.com. "This gives them the much-needed confidence to do something of their own."

Bahl passed out of Wharton in 2006 and immediately started work on SnapDeal.

"This is definitely a key trend for our generation," says Anirudh Suri, an MBA from The Wharton School (University of Pennsylvania) class of 2012, who currently runs an early-stage venture capital fund, The India Internet Group.

"I have seen it among friends, and even as an early-stage investor, I have seen it among several entrepreneurs I have met," adds Suri, who also runs eksms.com that gives personalised recommendations for Mumbai restaurants over SMS, web or phone.

Adds Amrita Chowdhury, associate director-education at Harvard Business School India Research Centre: "Indians are more willing to take risks than earlier, when there was probably the fear of failure."


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News Network
July 16,2020

Noida, Jul 16: A key aide of 1993 Mumbai blasts case convict Abu Salem who worked in his illegal property business in NCT of Delhi has been arrested by the Special Task Force (STF) of the Uttar Pradesh police, officials said on Thursday.

Gajendra Singh, who was also close to gangster Khan Mubarak, was nabbed in Mumbai late Wednesday night by the Noida unit of the STF, they said.

"Gajendra Singh had taken Rs 1.80 crore from a Delhi-based businessman in 2014 in a property-related case. When he was pressured to return the money, Singh had Khan Mubarak's shooters open fire at the businessman in sector 18 of Noida," Additional Superintendent of Police, STF, Raj Kumar Mishra said.

The businessman was in his car when the attack took place, and he narrowly escaped, the officials said.

Mishra said Singh had paid the shooters Rs 10 lakh, and the agency has cracked the money trail of the transaction.

"Gajendra Singh also invested Abu Salem and Khan Mubarak's money into properties in Delhi-NCR," the officer added.

Singh was wanted in a couple of cases registered at a police station in Noida where he has been lodged now for further proceedings, the STF said. 

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Agencies
May 22,2020

New Delhi, May 22: The number of COVID-19 cases averted due to the lockdown is in the range of 14-29 lakh, while the number of lives saved is between 37,000 and 78,000, the government said on Friday citing various studies, and asserted that the unprecedented shutdown has paid “rich dividends” in the fight against the pandemic.

The lockdown in India has been a timely, graded, proactive and pre-emptive public health measure to fight the COVID-19 pandemic and has been part and parcel of the government’s overall strategy, Dr V K Paul, Member (Health), NITI Aayog, and Chairman, Empowered Group 1, said at a media briefing on the COVID-19 situation.

The government imposed the nationwide lockdown from March 25 to prevent the spread of the novel coronavirus and it is currently in its fourth phase.

Like the number of cases, the growth rate of number of COVID-19 deaths too has fallen significantly due to the lockdown, marking a notable difference between pre-lockdown and post-lockdown situations, he said.

At the briefing, Pravin Srivastava, Secretary, Ministry of Statistics and Programme Implementation gave model-based estimates on COVID-19 cases and deaths which have been prevented due to the lockdown.

As per Boston Consulting Group's model, the lockdown saved between 1.2 lakh and 2.1 lakh lives, while the number of COVID-19 cases averted is between 36 lakh and 70 lakh, he said.

According to Public Health Foundation of India, nearly 78,000 lives have been saved due to the lockdown, Srivastava said.

Citing a model by two independent economists, he said that around 23 lakh COVID-19 cases and 68,000 deaths have been averted due to the lockdown.

Some independent experts, including retired scientists, have calculated that around 15.9 lakh cases and 51,000 deaths have been averted due to the lockdown, Srivastava said.

A joint study by the Ministry of Statistics and Programme Implementation and the Indian Statistical Institute found that around 20 lakh COVID-19 cases and 54,000 deaths were averted due to lockdown, he said.

The number of COVID-19 cases averted due to the lockdown is in the range of 14-29 lakh, while the number of lives saved is between 37,000 and 78,000, the official said.

“We are fully confident that the lockdown, with full public cooperation, has reaped rich dividends,” Srivastava said.

The strong defence of the lockdown, comes a day after the health ministry said the period of lockdown has been gainfully utilized to ramp up the health infrastructure, with around 3,027 dedicated COVID-19 hospitals and 7,013 care centres being readied across the country to fight the disease.

The announcement on Thursday came after some media reports questioned the country's preparedness to deal with the highly infectious disease.

"There are reports in a section of the media about some decisions of the government regarding the lockdown implementation and response to COVID-19 management. The period of the lockdown has been gainfully utilised to ramp up the health infrastructure in the country," the ministry had said.

Addressing the press briefing on Friday, joint secretary in the health ministry Lav Agarwal said 48,534 COVID-19 patients, which is about 41 per cent of the total cases, have recovered so far. As many as 3,234 patients have recovered in the last 24 hours, he said’

The COVID-19 mortality rate has dropped from 3.13 per cent on May 19 to 3.02 per cent as focus was on containment measures andclinical management of cases, Agarwal said.

An ICMR official said 27,55,714 tests for COVID-19 have been conducted till 1 pm Friday with 1,03,829 tests done in one day. Over 1 lakh tests for COVID-19 have been done each day for the last four days, the official said.

The growth rate of novel coronavirus cases witnessed a steep decline from Apr 4 when lockdown put a brake on the speed of increase of cases, V K Paul said.

The number of COVID-19 cases would have risen exponentially had the lockdown not been implemented, he said, adding that the doubling rate of cases was 3.4 days when the lockdown started and it is 13.3 days at present.

The COVID-19 outbreak in India has remained confined to limited areas with 80 per cent of active cases in just five states, Paul said

He said around 80 pc of COVID-19 deaths have been in Maharashtra, Gujarat, Madhya Pradesh, West Bengal and Delhi. 

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News Network
February 1,2020

New Delhi, Feb 1: India on Friday banned the export of personal protection equipment such as masks and clothing amid a global coronavirus outbreak.

It did not give a reason for the ban but it reported its first case of the new coronavirus on Thursday, a woman in Kerala who was a student of Wuhan University in China.

The central Chinese city of Wuhan is the epicentre of the outbreak, and the virus has since spread to more than 9,800 people globally and killed 213 people in China.

Several Indian citizens living in Wuhan will arrive in India by plane on Saturday and be taken to a quarantine centre on the outskirts of the capital New Delhi.

India, the world’s second most heavily populated country after China, has taken measures to ensure that all people arriving from China report to health authorities.

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