Indian Economy Snippets 9 th March 2018 Indian

Indian Economy Snippets – 9 th March 2018

Indian Economy • India snatches back title of the world's fastest growing major economy from China – 3 rd quarter growth numbers of 7. 2% – China grew by 6. 8% in the same period Core Sector December 2017 January 2017 Coal, Crude oil, Natural Gas, refinery 6. 7 % 3. 4 % products, fertilizers, steel, cement and electricity Petroleum Refinery Increased by Stagnant 11% Cement 20. 7 % 13. 3 %

Bank accounts linked to Aadhaar – Around 80 per cent of bank accounts linked – Bank Accounts - 87 crore of total 109. 9 crore blinked – Mobile connections - 60 per cent linked – Soon with face recognition alongside iris or fingerprint scan as a means of verifying the users, helping those who face issues in biometric authentication or have worn-out fingerprints – More than 89 per cent of the total population has been issued the Aadhaar as of mid. February

Bank accounts linked to Aadhaar – Linking may look like a small step for the account-holder, but is a giant leap in data access for the authorities – PAN, bank accounts, credit cards, insurance policies, mutual funds and pension plans etc. . will have to be linked to Aadhaar by March 31, 2018 – Aadhaar Property Linking - Soon be mandatory to link Aadhaar with all property transactions

WEF 2018 • World Economic Forum (WEF) was established as a not -for-profit foundation in Geneva, Switzerland, in 1971 • The forum holds four major annual meetings in a year. Around 3, 000 delegates from over 120 countries will attend • WEF gives participants opportunity to discuss global issues. • Builds world-class research capabilities, producing cutting-edge data on some of the world's most significant issues like competitiveness, gender parity and global information technology.

Why WEF is significant for India? • India has taken a series of steps to formalise the economy - Insolvency and Bankruptcy Code, demonetization to GST (Goods and Services Tax), linking Aadhaar, etc…. • No such reform transfromation happened in any other country in the world • WEF 2018 would provide a unique opportunity for Prime Minister Narendra Modi tell the world that India is ready to reap the benefits of its reforms process, and that foreign investors could also become a part of this process.

PM Modi’s inaugural key note address • Prime Minister Narendra Modi lead the largest Indian contingent of over 300 delegates to Davos, Switzerland during this year's four-day World Economic Forum. • The Prime Minister delivered the Inaugural keynote address on January 23. • The Closing key note by most powerful democracy – Donald Trump of US.

PM Modi’s inaugural key note address • Finally he had set 2 challenge for Indians and Indian companies. – He set the target of $5 Trillion GDP by 2025, which is $ 2. 439 trillion today. – Indians will be a job givers, forgot about job seekers • Modi, delivered a special address during which he also spoke about the – Opportunities and dangers of technology – India’s plan to fight income inequality, job creation – How the country is “cutting the red tape and rolling out the red carpet” to international trade and investment.

PM Modi’s 3 greatest threats to civilization • Climate change • Terrorism • Backlash against globalization

3 greatest threats to civilization Climate change • “Glaciers are receding, ice caps are melting in the Arctic, many islands are sinking… There can be floods, or there can be drought, we are seeing the impact of extreme weather conditions, ” • Modi then shared his country's ambitious goal to shift to greener forms of energy. • “By the year 2022, in India we want to produce 175 gigawatts of renewable energy. This is a very big target for a country like India. ” • In the last three years, India has achieved approximately 60 gigawatts, around a third of this target.

3 greatest threats to civilization Terrorism • Good & Bad Terrorism - Terrorism is dangerous, but equally dangerous is the artificial distinction created between good and bad terrorists • Good terrorists are the guys who go off and bomb Indians, and kill Indians in India • Bad terrorists are the ones who attack Pakistani interests, whether in Afghanistan or inside Pakistan • “in other words, you blow up the Taj Mahal Hotel, you're a good terrorist. You blow up the Marriott in Islamabad, you're a bad terrorist". • Modi also expressed concern over the rising instances of children from wealthy, influential families being radicalised and joining terror outfits.

3 greatest threats to civilization Backlash against globalization • “Many societies and countries are becoming more and more focused on themselves, ” he said. “It feels like the opposite of globalization is happening. • The negative impact of this kind of mind-set and wrong priorities cannot be considered less dangerous than climate change or terrorism. • “The solution to this worrisome situation against globalization is not isolation. The solution is in understanding and accepting change. ”

Few Key factors addressed in the WEF 2018 • Opportunities and threats of technology – Artificial Intelligence • India’s plan to fight income inequality - 1 own 80 of wealth

Income inequality - 1 own 80 of wealth • The richest 1 per cent in India cornered 73 per cent of the wealth generated in the country last year • Last year's survey had showed that India's richest 1 percent held a huge 58 percent of the country's total wealth • World average – 1 % accumulated 82% Of wealth generated last year • Wealth of India's richest 1 per cent increased by over Rs 20. 9 lakh crore during 2017 •

Income inequality - 1 own 80 of wealth • In India, it will take 941 years for a minimum wage worker in rural India to earn what the top paid executive • In the US, it takes slightly over one working day for a CEO to earn what an ordinary worker makes in a year • It asked the government to promote inclusive growth by encouraging labour-intensive sectors that will create more jobs; investing in agriculture • “Suresh Prabhu –“Ministry of Commerce & Industry” – We are not competition with any other country in the world – India is growing close to 8% per annum – We are competing ourselves about doubling the farmers income in next 5 years

Manipal Hospital • Manipal Hospital's 'Tumour Board' has a panel of qualified doctors from radiation, medical and surgical streams. • Since January, 2017, 'Watson’-has had the honour to occupy one of the seats on the board. • Doctors can query Watson regarding theit treatment • Watson presents its own findings, along with recommended line of treatment. • It evaluates the 130 -140 parameters of the patient fed into its system against tens of thousands of parameters its already been trained on.

Manipal Hospital • Manipal evaluated the impact on two fronts: 600 -odd research cases of past patients and clinical cases under treatment – 85 per cent of Watson's recommendations were identical – Another 8 -9 per cent, they found Watson recommendations useful and might have considered that option as well • Who is Watson? - IBM's artificial intelligence - a deep learning framework • The doctor is still the boss, though. "Watson is part of decision making process across our seven hospitals for cancer patients

Artificial Intelligence • Welcome to India's tryst with Artificial Intelligence (AI) - small steps for technology but a giant leap for businesses. • AI, by definition, is human-like intelligence in machines. • Start-ups in particular remain the most enthusiastic adopters. An estimated 200 -300 startups have built business models around AI since large tech firms starting sharing their tools and platform two years ago.

3 Inferiorities of Machine addressed Inferiorities of Machine Techniques Brain The brain's job of understanding, learning and evolving is catered to by deep learning/machine learning Visually recognising and processing information is being addressed by techniques such as optical recognition Listening and responding with voice by natural language processing techniques.

SIMULATING THE BRAIN: DEEP LEARNING nobroker. com • Akhil Gupta narrates angrily, a murderous attack on the staff and office of nobroker. com • The company eliminate brokers from property renting and buying. • Nearly 60 local brokers stormed into the company's office in a Bangalore suburb, smashed furniture and computers and thrashed employees inside

SIMULATING THE BRAIN: DEEP LEARNING nobroker. com • nobroker deployed multiple AI tools to identify-and shut out-brokers. He drops broad hints though: brokers have a peculiar search pattern and have a digital trail on Internet. • Tensor Flow - Google's machine learning software • Google Analytics - Speech recognition and optical character recognition used in tandem were able to identify them. • 8 lakhs + customers, 45, 000 listings monthly

SIMULATING THE BRAIN: DEEP LEARNING Tredence - making sense of unstructured data. • Bangalore-based Tredence was founded as recently as 2013. Today, it has a INR 80 crore business today • It built a model for one of the world's biggest FMCG firms about where the ice cream trikes should be located in the city for best return on investment.

SIMULATING THE BRAIN: DEEP LEARNING Tredence - making sense of unstructured data. • Based on the client's data, the model scrapes the Internet for public information such as competitors' trikes, location of schools, hospitals, shopping areas, historical sites, even traffic and demographic data to suggest where the ice cream trikes should be placed. • Going by results so far, it could grow global ice cream business by 8 -10 per cent just by tempting the custoners at the right time

THE EYES: OPTICAL RECOGNITION Amazon Go - Amazon's high-tech grocery store • Amazon Go set to disrupt how people shop • Amazon. com’s checkout-free grocery store to the public today after more than a year of testing. • It's an experiment that could dramatically alter brickand-mortar retail. • It would make cash registers redundant as shoppers simply walk out with what they want.

THE EYES: OPTICAL RECOGNITION Amazon Go - Amazon's high-tech grocery store • Relies on cameras and sensors to track what shoppers remove from the shelves, what they put back, when they put back • If someone passes back through the gates with an item, his or her associated account is charged. • If a shopper puts an item back on the shelf, Amazon removes it from his or her virtual cart

THE EYES: OPTICAL RECOGNITION Insurance Firm • An insurance firm in the western world installs a camera on car dashboards to analyse whether a bump is an accident (in which case it needs to send alerts to the right people). • It analyses the vehicle through motion, speed, etc. for the state of the vehicle and potentially the driver's behaviour.

THE EARS: NATURAL LANGUAGE PROCESSING Personal digital assistant such as • Apple's Siri, Microsoft's Cortana, Amazon's Alexa and Google's Assistant are all in early stages of AI. • We're on a path where devices will become more and more transparent, more and more natural, in their interactions – Undserstanding the users language style – Undrestanding their mood

INDIA'S BIG OPPORTUNITY • AI is where India can create a natural advantage just like in IT, ITe. S. • It has an English speaking population, millions of tech professionals. • Most importantly, it generates and handles DATAthat great fuel behind AI. • "Oil refiners make more money than drillers. People who will refine the data will ultimately make much more money than people who create data, " says IBM's Mehrotra

Philosophies of YES 1. Focus is key - inch wide and mile deep 2. First get strong, then grow great 3. Always sharpen your saw 4. Execution is discipline 5. Build on your distinctive competence over core competence 6. Preserve and treasure all your resources 7. Embrace change; stay positive 8. Growth and innovation are lifelines 9. Integrate ethics into business strategies 10. Customer value creation ensures profit 11. Be rule makers, not rule takers

Indian Economy Snippets – 9 th March 2018 Thank you