I&B sector received FDI worth $161 million in Apr-Sep 2020: Economic Survey
The sector had attracted $196 million in April-September 2019
The information and broadcasting sector attracted foreign direct investment of $161 million in April-September 2020 compared to $196 million in April-September 2019, as per Economic Survey 2020-21 report on the Services sector. Information and broadcasting is classified as a sub-sector within the wider Services sector.
In FY20, the FDI inflow into the information & broadcasting sector was $823 million compared to $1.25 billion in FY19. The information & broadcasting sector's share in Gross FDI equity inflows into the Services sector in 2019-20 stood at 0.68%.
The Economic Survey noted that the year 2020 was a peculiar year marred by the COVID-19 pandemic and consequent nationwide and worldwide lockdown measures implemented since March 2020. The contact intensive services sector was severely impacted, particularly sub-sectors such as tourism, aviation, and hospitality.
It added that the first half of FY 2020-21 saw services sector contract by almost 16% YoY. This decline was led by a sharp contraction in all sub-sectors particularly trade, hotels, transport, communication & services related to broadcasting, which contracted by 31.5% in H1 FY 2020-21. As per the first advance estimates, the Gross Value Added (GVA) of the services sector is estimated to contract by 8.8% in 2020-21, whereas it grew by 5.5% in 2019-20.
It noted that sub-sectors ‘trade, hotels, transport, communication & broadcasting services’, ‘financial, real estate & professional services’, and ‘public administration, defence’ is estimated to contract by 21.41%, 3.68%, and 0.82% respectively.
It is pertinent to note that while the services sector contracted by over 20% in the first quarter (Q1) of FY 2020-21, the contraction narrowed to 11.4% in the second quarter (Q2) of FY 2020-21. This pace of recovery is broadly aligned with high-frequency indicators that point to a pick in economic momentum with the measured opening up of the economy from June 2020.
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BW People Management Leadership & Strategy Summit and Exceptional Managers Awards
The initiative, on April 30, will honour the remarkable talent that has supported the expansion and management effectiveness of their respective organisations
The highly anticipated BW People Management Leadership & Strategy Summit & Exceptional Managers Awards 2024, the latest initiative that recognises and celebrates the achievements of managers and leaders who have diligently and strategically worked to advance their organisations, is set to take place on 30 April 2024 at Radisson Blu Plaza Hotel, Delhi Airport. The initiative will be organised and launched by BW Businessworld to celebrate the pillars of successful organisations.
The Management Leadership & Strategy Summit will welcome visionaries, thought leaders, and industry experts to explore the latest trends, innovations and strategies shaping the future of management and leadership. This summit serves as a platform for executives, managers, entrepreneurs and professionals from diverse sectors to exchange ideas, gain insights, and network with peers. From exploring cutting-edge management techniques to discussing transformative leadership approaches and strategic business insights, this summit promises to inspire, educate, and empower attendees to navigate the dynamic landscape of modern leadership and management effectively.
The Exceptional Managers Awards will serve as a platform to honour the remarkable talent that has supported the expansion and management effectiveness of their respective organisations. The awards were judged by a panel of industry experts consisting of Atul Sobti, Director General- SCOPE, Former CMD- BHEL; Sangeeta Shah Bhardwaj, Professor Information Management Area, Management Development Institute, Gurgaon; Nida Khanam, HR Director- Greater India, Socomec Group; Punam Sahgal, Former Dean & Professor- Indian Institute of Management, Lucknow; Shaleen Manik, CHRO, Transsion India (itel, Tecno & Infinix Mobiles); Rajesh Nair, Executive President & CHRO, Polycab India; Sudip Verma, Chief Enabler, Vgain World; Dr Annurag Batra, Chairman & Editor-in-chief- BW Businessworld and Founder- Exchange4Media; Aparna Sengupta, Group Director- Revenue, BW Businessworld; and Talees Rizvi, Director- BW People & BW CFO World.
"We are thrilled to announce the launch of the Management Leadership & Strategy Summit & Exceptional Managers Awards, which aims to celebrate the achievements of managers and professionals who are shaping the future of the industry," said Talees Rizvi, Director – BW People & BW CFO World. "This initiative will provide a platform for recognition, inspiration, and celebration of the exceptional minds who have led their organisations to success.”
The initiative will recognise the success of every aspect of the workplace and the award categories were open to all enterprises across industries. The categories for nominations included Exceptional HR Managers; Exceptional Marketing Managers; Exceptional Finance Managers; Exceptional Advertising & PR; Exceptional Facility Managers; Exceptional Supply Chain Managers; Exceptional Sales Managers; Exceptional Information Technology Managers; Exceptional R&D Managers; Exceptional Customer Service Managers; Exceptional Accounts Managers; and Exceptional Operations Managers. The ceremony will conclude with presenting the hallmark awards consisting of Tech Innovator of the Year; Youngest Manager of the Year; and Women Exceptional Manager of the Year. The evaluation of the entries was scrutinised by the esteemed jury panel.
To learn more about the BW People Management Leadership & Strategy Summit & Exceptional Managers Awards, visit the website.
ShareDentsu Creative PR bags Drone Destination's mandate
Dentsu Creative PR will leverage its PR expertise to formulate & execute communication strategies for Drone Destination
Drone Destination, a UAV (Unmanned Aerial Vehicle) company listed on the National Stock Exchange (Stock Code - DRONE), today announced its association with Dentsu Creative PR as its official public relations & investor relations agency. Dentsu Creative PR will leverage its PR expertise to formulate & execute communication strategies for Drone Destination, as well as manage media relations from its Gurugram office.
Commenting on the association, Alok Sharma, Chairman of Drone Destination said, “As we undertake steps to do our bit towards the Hon’ble PM's vision of ‘Make in India’ and ‘Atmanirbhar Bharat’, it gives me pleasure to partner with one of the most experienced and respected agencies in the country – Dentsu Creative PR. Communication and stakeholder engagement is extremely critical in business, especially in a sunrise industry like Drones. Their understanding of our business and strategic insight-led engagement will certainly strengthen and reinforce our market positioning while benefiting the industry as well. We look forward to working on a wide range of initiatives having multiple ramifications to transform the current scheme of things across businesses and governance.”
Dwelling upon the importance of this partnership for the development of a healthy drone ecosystem in the country, Chirag Sharma, MD & CEO of Drone Destination said, “Drone Destination has embarked upon an ambitious journey to make India self-reliant in each and every aspect of drone technology. Our offerings and quality of products and services are finding resonance with industry stakeholders including the country’s financial markets. We are confident that this association will help the audiences take notice of the impact, efficiency and transparency that drones can bring in every sector ranging from Agriculture, Manufacturing, BFSI, Energy, Railways, Retail etc. With their strategic clarity and class-leading professional acumen, we are sure that team Denstu Creative PR will help us to lead the way for Drones in India.”
Sanjeev Anand, President, Dentsu Creative PR added, “We are excited to announce our partnership with Drone Destination. As we embark on this exciting chapter alongside Drone Destination, we are poised to set a new standard of collaboration that stands as a testament to creativity, innovation, and the pursuit of shared success. This strategic collaboration will allow us to service the company with our strategies and innovative ideas that resonate with Drone Destination’s vision and objectives.”