As a sector that brings a considerable amount of FDI and employs 31.45% of India's employed population (as of 2018), the services sector is said to contribute 55.39% to India's Gross Value Added (GVA) at current price in FY20. However, the recent pandemic and the resultant lockdown have lent a major blow to the SMEs/ MSMEs and the start-up businesses, and more so for the service-focused enterprises. While the new 'Atmanirbhar Bharat Abhiyaan', FM Nirmala Sitharaman has announced a lucrative package of INR 20 lakh crore, the initiative has also redefined the MSMEs segment parameters and merged the manufacturing and service sectors into terms based on turnover, namely as 'Micro Units' for less than INR 5 Cr. Turnover, 'Small Units' for less than INR 50 Cr. Turnover and 'Medium Units' for less than INR 100 Cr. Turnover.
This merging of enterprises and the re-assignment of businesses based on turnovers, has further made it difficult for service sector enterprises to leverage the benefits of the economic bail-out package, as the specific challenges and needs of the sector continue to go unnoticed, and even maybe lost as they try to compete for attention on an unequal playing field. At a time of crisis when the sector was in dire need of special focus and customized solutions by the government, they have been merged with and lost amidst the pool of Medium, Small and Micro Units re-assessment of business, based on turnover. This needs to change, especially because of the following key differentiators of the service sector enterprises:
Perception Driven industry
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Transitioning to the New Normal - Ensuring Business Continuity in the Post-COVID Era
In the post COVID-19 times, it is all the more essential for companies to take care of its employees from both physical and emotional standpoints. While a major part of the global workforce is operating remotely, organizations must ensure that employees feel connected, supported, informed, and motivated during these challenging times. At the same time, businesses that have reopened their doors with the economy's restart must adhere to all recommended safety measures in the office and onsite.
Tips to Protect Your Smart Appliances from Cyber Intruders
Smart home devices have become an integral part of our digitally connected world. While these highly innovative devices have transformed our way of life in many ways, they sometimes come with their fair share of risks. One of the major challenges faced by manufacturers is to provide steps to defend these devices from cyberattacks. Here are a few steps that I feel most people can take to protect and safeguard their smart devices from malicious cyber intruders.
Reweighing the Sustainability of DAMS
Described as the "temples of modern India" by the first Prime Minister of India, Jawaharlal Nehru, dams remove water from the big rivers to sustain cities on their banks. Nevertheless, dams are humankind's oldest tool, yet as per the 2000 report of World Commission on Dams "Are they our only tool or our best option? "They serve as big reservoirs to store, use and divert water from big rivers for consumption, irrigation, cooling, transportation, construction, industries, power generation and recreation."
Linode Vision to Make Cloud Computing Accessible to all - Infrastructure Status to the Data Centre Sector on the Envil
Linode accelerates innovation by making cloud computing simple, accessible, and affordable to all. Founded in 2003, Linode helped pioneer the cloud computing industry and is today the largest independent open cloud provider in the world. Headquartered in Philadelphia's Old City, the company empowers more than a million developers, startups, and businesses across its global network of 11 data centers. Linode is planning to open another data centre in India.
Skill Needs of Professionals to Face Challenges of New Era
What is the relationship between education and employment? Almost everyone has pondered on this question at least at some point in their lives. The role of education has had a strange influence on human civilisation. In the yesteryears, it was not readily available for the masses. Only a specific segment of people was able to relish the actual benefits of education.
KENT Develops Zero Water Wastage RO System - Indian Water Purifier Industry Set to Become One of the most Lucrative Sectors: Dr Mahesh Gupta
Realizing that traditional RO filters were not effective for every type of water, Dr. Mahesh Gupta started working on technology to make RO as a uniform water purifier capable of purifying all types of water irrespective of the sources of water. He came up with a revolutionary technology of RO+UV+UF+TDS controller which purifies water while retaining the essential natural minerals. This technology ensures that the water becomes not only the purest, but is healthy too. Here a new era was started in water purification industry and brand 'Kent' was born to soon become a household name for water purifiers.
Cyber Security Threat Landscape to Become More Challenging in 2021 - Indian Organisations: Remote Working Created Major Security Scare
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Anil Agarwal Foundation and Bill & Melinda Gates Foundation partner to improve nutrition in India
Bill Gates and Anil Agarwal announced a new partnership to support the Government of India's Ministry of Women and Child Development (MoWCD) as it works to achieve United Nations Sustainable Development Goal 2, which aims to end all forms of hunger and malnutrition by 2030.
Going Digital The Way Forward Towards Progress And Prosperity
Information Technology & Information Technology Enabled Services (IT-ITeS) sector is a field which is growing speedily and is reshaping the workplace productivity and Indian business standards by enabling workplace with new digital technologies.
Region To Region
Region To Region
YOGA & PEACE
DEEPAK CHOPRA speaks with DAAJI about the role Yoga has to play in bringing about world peace. This is an excerpt from their conversation broadcast on International Day of Peace, September 21, 2020. That documentary is available at https://heartfulness.org/en/international-day-of-peace/.
Create the habit of meditation
CHIRAG KULKARNI, Co-Founder and CMO of Medly Pharmacies in the USA, speaks with RISHIKA SHARMA about creating a regular meditation practice, so as to make it a habit. He also shares how meditation has benefited both his personal and professional life.
SHIA'S PRIVATE TEMPLE OF DOOM!
Indiana Jones gig derailed by abuse scandal
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THE MAKING OF A MODEL MINORITY
Indian Americans rarely stop to ask why our entrance into American society has been so rapid—or to consider what we have in common with other nonwhite Americans.
In 2017, DR. VANDANA SHIVA spoke with KIM HUGHES about the sacredness of the Earth, the work she has been doing to bring awareness and change in the field of sustainable agriculture, and the importance of understanding our interconnectedness with Nature, and how we can change the way we eat.
DIAMONDS - A Luxury Gem Steeped in Fact & Fable
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Brown Sugaa and Medusa
Brown Sugaa and Medusa