From my latest post over at Times of India:
“…Did you know that more than 80 percent of the cycle-rickshaws in Delhi are illegal (since there are only 99,000 of them allowed legally)?
Govt functionaries in Delhi extort a crore a month from the cycle-rickshaw pullers alone! This was the figure in 2006. It has probably doubled since then.
Were you aware that Delhi’s approximately 600,000 street vendors operate without the necessary license and pay up about Rs 12 million per month in bribes?
Were you aware that a law in the state of Maharashtra requires farmers to sell their sugar cane to a specified sugar mill in the district[i]?
Did you know of the law in Kerala which mandates that once a farm is registered as producing one crop, it cannot change its crop without government permission[ii]?!
Would it now surprise you to know that “India ranks among the world’s worst countries at encouraging entrepreneurs. For ease of starting a business, India is 166th out of 183 countries”
Or that it takes 7 years (yes, seven) to close a business in India and 1,420 days to enforce a contract!
You would think this is a bad joke – except it is not.
And millions of small entrepreneurs suffer from this stranglehold of regulations and permits; the vestiges of a still omnipresent (and deeply embedded) license-permit Raj.
Which brings us back to our question: What can the government do?”
Read it in full here.
From my latest post over at Times of India:
Here are some memories from the 9 cities, 16 days whirl...that involved 1500 & a bit more) youngsters!
Here is the link to more, qualitative and detailed feedback..
Shared some slides at the India Investment Opportunities Forum in London yesterday.
I also talked about some of my investments (Myntra, Innoviti and ElementsAkademia) in India.
It was a good interactive session. I felt the mood is turning upbeat (although less so here in London and in the US).
Just a placeholder/note to myself to transcribe my notes/points from the panel discussion at “ChIndia Rising“, Cass Business School last month. I hope to get around to doing this in the next few days.
*** PANEL DETAILS ***
Will the Rising Tide Lift All Boats?
Here the panel will explore in an interactive Q&A session the challenge to the developed world, how to participate in Chindian Growth, the investment challenge, the legal challenge and how to create new opportunities
Panel to include:
Professor Jaideep Prabhu
Professor Bradley Barnes
Some notes from the “Emerging Markets” seminar on opportunities and challenges for entrepreneurs (part of the IED Best Practice encounters series) at which I shared a panel with Prof. Gerry Geirge and Prof. Chris Toumazou:
- For the UK, India is now as important as China; Exports to China are £5.2bn vs £4.1bn for India
- There appears to be a significant correlation between “relative inequality” and entrepreneurship i.e. higher relative inequality leads to higher entrepreneurship (- as in the case of US perhaps?)
- Education in general (esp. tertiary education) is a big opportunity in India (I’m glad about my latest angel investment!)
- Chris mentioned how the future of healthcare and medicine is personalised drugs and disposable technology
- I made some deliberately provocative statements; the main one being “Why this century might be India’s century”; Mentioned India’s 3-D Advantage
- Gerry shared some very interesting slides on R&D linkages between Indian institutions and their international counterparts; I hope these slides are up on the website soon
- I also liked Gerry’s slide about FDI as % of GDP that showed a sustained increase in FDI into India (vs. a reduction in FDI in China). When you couple this fact with the growth in GDP in India, you realise the dramatic impact that this flood of money had between 2006 – 2009
I shared a couple of slides (see below) as a preface to my observations:
Earlier this week, I chaired a panel discussion in London at Digital Business India.
Some key points that emerged from the various discussions were:
- Huge opportunity emerging in digital media/ digital business (probably the fastest growing market globally)
- Specific sectors of interest include education, animation, production, advertising & branding services
- Doing business is not easy and challenges remain
- Very attractive opportunity to leverage the large (and rapidly growing) mobile user base*
I hope to add more flavour to these notes later on…
* India added about 15million new mobile subscribers in Jan ’09.