Internet biz will grow 10 times in India in 10 yrs: Cisco

Technology major Cisco is betting big on Prime Minister Narendra Modi's Digital India mission. In an exclusive conversation with CNBC-TV18, Cisco's Chief Technology Officer Padmasree Warrior says she is exploring opportunities to invest in electronics manufacturing in India.  

According to her, India's internet business will increase 10 times.

Below is the verbatim transcript of Padmasree Warrior's interview with CNBC-TV18's Malvika Jain.

Q: What is your view on Prime Minister Modi's Digital India drive?

A: Yes, it's actually a very exciting vision for us to hear Prime Minister Modi talk about digital India and the nine pillars that he has highlighted as part of that initiative. Government of India is expecting an investment to the tune of over Rs 100,000 crore in this area. That's very exciting to see. There are many trends that we believe will support this move towards digital India. If we look at India, our estimates say that the internet traffic will almost increase 5x from 2013 to 2018. Mobile data traffic will increase 24x or 24 times from where it is in 2013 to 2018. Internet business per se will almost increase 10x from where it is currently in the next decade. So all of these metrics support the fact that there is a need for digitizing and enabling many solutions not only in the government but in the private sector to move towards digital India.

We have a large initiative that we refer to as smart cities which pretty much aligns with the vision that Prime Minister Modi has towards digital India. In addition to that we are working with many customers and partners in the retail segment in the manufacturing segment and smart grid to enable bring technologies to help with bringing current business on to the platform.

Q: Fair enough but if you talk about the emerging trends in the technology space, what is it that Cisco betting big on?

A: So, the big trends that we are pushing and we see that'll change the face of technology are I would say we can summarize them as three trends. First is cloud computing. There is shifting of IT from a premise based solution to a cloud based service. That's definitely something Cisco is leading in and will continue to drive cloud based solution.

The second is mobility, the rise of the mobile as this powerful platform. Essentially, actually it's very big in India, right? Most of the things that I see people using here, lot of the applications are getting created on the mobiles, so that's a second big trend.

The third is the rise of the internet of things which is really the machine to machine connection and the things to things connection. So those are the three big major trends that we see that will transform not just the IT industry but essentially every business that we currently support across the globe.

Q: Another area which is seeing a lot of interest from investors is electronics manufacturing. This is something that that is also being pushed by the government. Proposals worth around Rs 19,000 crore have been received by the government. So, far Cisco is the company which could support electronic manufacturing. Would this be an area that you would be exploring?

A: Yes, we are evaluating that. We are working with the government. For us it has to make business sense of course and as long as everything is competitive and we see the growth opportunities we'll certainly explore the possibility of doing that.

Q: The last time I had interviewed you mentioned to me that foreign investors were cautiously optimistic about India but those were early days for the Narendra Modi government and since then a lot of initiatives have been taken. The sentiment in the Indian economy has revived. So, as a foreign investor the cautious optimism that you were talking about has that shifted to absolute confidence in the governments vision, its plans and its goals?

A: Definitely it is getting better. The optimism is getting stronger. I myself participated in some of the discussions in New Delhi when President Obama was visiting here and I also participated in the state department events when Prime Minister Narendra Modi was visiting Washington DC. Overall definitely the confidence is growing. My boss John Chambers was in India few months back and he emphasized also the importance our company places in India not just as a market but actually as a talent base for us.

Our teams here in India for Cisco produce products that we market globally. So, they are not just making products for India but for our global base. So, definitely it will all depend on execution but definitely the optimism is there and the confidence is growing.

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Amit Shah rubbishes opinion polls

The loud speakers have finally fallen silent in Delhi - the high voltage campaign has ended and voters will have their say this Saturday. Top leaders from all the political parties held rallies and road shows across the city. As it has been throughout this campaign, Kiran Bedi and Arvind Kejriwal took swipes at each other.

The loud speakers have finally fallen silent in Delhi - the high voltage campaign has ended and voters will have their say this Saturday.

Top leaders from all the political parties held rallies and road shows across the city. As it has been throughout this campaign, Kiran Bedi and Arvind Kejriwal took swipes at each other. Meanwhile, the opinion polls have been pointing to a photo-finish with the Aam Admi Party holding a slender edge. However BJP president Amit Shah and Congress leader Ajay Maken have been quick to rubbish all the opinion polls.

Watch Video for more......

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What DMs, developing economies need to do to align interest

At the Teri Sustainability Summit, Niti Aayog member Bibek Debroy and chief of Unilever Paul Polman spoke on what needs to be done in order for developing countries and developed economies to align their interests and align corporate interests with interests of the environment and climate change.

Below is the verbatim transcript of Paul Polman and Bibek Debroy's interview with CNBC-TV18's Shereen Bhan

Q:  What do you think needs to be done?

Polman: You got 200 million more people going to the cities in India and you have to figure out how to be sure that you improve their standards of living and ensure the long-term future of India. That does mean setting up waste recycling systems, thinking about energy differently where too much gets lost, where the amount of use of coal is going up and it is not really needed anymore. We have seen technology develop photovoltaic technology. We see two states in India where the price of green energy is there. So, you cannot say we want to be global and use all the technologies to solve our problem but we do not want to participate in the global economy. It doesn't work. The thing is poor people unfortunately are suffering. In India, too many have suffered for too long. It is the same for agriculture. Agriculture here has a very low yield. Make agriculture more efficient. Moreover farmers get more money, government's food prints will be less.

We have enough learning's now on climate - smart agriculture and it is a win-win, why wouldn't you take that. Same thing is true for energy, land use and for cities itself.

So, in agriculture take life stock. The cows in India give you half the amount of milk than the cows in the rest of the world. Why would you just take all that methane and do more to climate change, why don't you work with technology that is available and that is what this new climate economy report is saying. You can have the cake and eat it too. Just develop your economies smartly. Many companies in this room are willing to help there. There is nothing wrong with that.

Q: You can have your cake and eat it too, Bibek Debroy, it is a question of a change of mindset, it is question of thinking smarter, it is a question of aligning objective to the frontend with the objective at the backend.

Debroy: I have had my water I do not want the cake. Please do not lecture, tell us specifically what you are going to do.

Q: Several specific points were made here in terms of what the government can do, what Indian corporations can do, what foreign corporations operating in India can do, I think several relevant examples were given there. Agriculture yield being very low, you and I have had panel discussion after panel discussion on that issue. So, it is not something that somebody else is lecturing us about.

Debroy: Yes, but someone telling us that suggests that we don't know.

Q: May be someone is telling us that we don't know because we have known and not acted on it for all this while?

Debroy: No, not really. If someone has not acted on it there are very genuine reasons why the acting on it has not happened.

Q: What is the reason for not improving agricultural productivity?

Debroy: Agricultural productivity is a very long list.

Q: I am asking because you said that we know the prescriptions but we don't need somebody else to…

Debroy: I can improve agricultural productivity by delivering among other things, electricity, water and roads. 1,50,000 villages in India do not have electricity. You want me, the government of India to tell them you shall not have electricity or you will only have off grid solar power.

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PM Modi listening to industry is encouraging: Intel

Intel's Renne James says the fact that prime minister Modi is listening to the industry is very encouraging and she is hopeful about India

Global CEOs have been lining up at Prime Minister Narendra Modi's door. The latest being Intel's Renne James and she is upbeat on the India story and the prime minister's Digital India drive.

Below is the verbatim transcript of Renee James' interview with CNBC-TV18's Shereen Bhan

Q: You met Prime Minister Modi. Post the meet, what is your view on India?

A: I feel very hopeful about India. His initiatives and his personal engagement on his vision for the future of digital India is quite impressive. He is a technology user himself. He shared with me about how he uses technology in his own personal cloud and I feel that because he himself knows how to use the technology he is very well equipped to have a real good push on what is happening. So we are very encouraged and he is listening to the industry which is also very encouraging. So it is very good.

Q: But what is all that going to translate into in terms of investments in India for Intel because the R&D story is well established. So what about manufacturing in India? The government has unveiled an electronic manufacturing policy, the minister says that they have managed to get investments worth Rs 19,000 crore. Is there any possibility of manufacturing in India?

A: There is always a possibility of anything.

Q: The probability of it happening sooner rather than later?

A: The probability in a short term is probably close to zero because we are now in a situation in the semiconductor industry where we have all built our capacity for the near term needs and any of us three largest manufacturers in semiconductors right now probably are most likely to add capacity on to our existing plants. If things go as Prime Minister suggested then India could be a possibility, but today, no, we just aren't building any new capacities.

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Sixth aircraft by Jun may see us break even: AirAsia India

In a chat with CNBC-TV18's Farah Bookwala-Vhora, Airasia India chief Mittu Chandiliya discussed plans to ramp up fleet and the impact of the regulatory & policy uncertainty on its expansion plans.

At the end of 2015, we would be around 12 to 14 aircrafts.

After missing its November 2014 deadline, low-cost carrier AirAsia India is hoping to break even soon as it starts flying its sixth aircraft in May-June.

In a chat with CNBC-TV18's Farah Bookwala-Vhora, Airasia India chief Mittu Chandiliya discussed plans to ramp up fleet and the impact of the regulatory & policy uncertainty on its expansion plans.

Below is the transcript of the interview on CNBC-TV18.

Q: How are you planning to ramp up operations?

A: Over the last four months we have seen a lot of policy changes and whether it is the RDG, whether it is the 5:20 -- it didn't make sense for us to rocket up the launch and commit to certain markets, certain routes when there could be a drastic change which should make it prohibitive to go to certain markets and certain routes.

So the whole idea was let us take a step back, let us see kind of how the industry shakes up and then make a decision based on routes and airports after that.

Q: How do you intend to ramp up your fleet?

A: We are having one [aircraft] which will come to us in about three weeks. The fourth one will come towards the end of April. We will have five before May and then after June-July, we would probably add another six to seven more aircraft.

Q: So, in totality when you end 2015 how many aircraft would you have added?

A: At the end of 2015, we would be around 12 to 14 aircrafts.

Q: What is the plan to break even? We have seen that also get deferred from last year to now. We are hearing about May-June.

A: In terms of breakeven it is always going to be a factor of anytime we hit the sixth aircraft. We would be in a much better state to break even.

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Forex - Kiwi falls in Q4 as unemployment rate unexpectedly jumps

Investing.com - Investing.com - The New Zealand dollar eased after unemployment unexpectedly rose in the fourth quarter, setting the stage for remarks by the central bank governor due later on Wednesday.

NZD/USD traded at 0.7345, down 0.16%. AUD/USD traded at 0.7782, down 0.13%, following the unexpected rate cut to a record low 2.25% on Tuesday and USD/JPY changed hands at 117.57, down 0.02%.

New Zealand's fourth quarter unemployment rate ticked up to 5.7%, compared to expectations for a drop to 5.3% from 5.4% in the third quarter with the participation rate at a record high of 69.70%.

Then at 0930 local time (2230 GMT), RBNZ Governor Wheeler speaks on the outlook for the for NZ economy.

Given the RBNZ's surprise move to switch to an explicit neutral basis at the official cash rate review last week, the speech is being closely watched for the explanation.

At the same time in Australia, the AiGroup services index is due. In December, the index improved 3.7 points but remained in contraction for the tenth month in a row. The data showed a big rise in new orders and if it sustains in January,it would be a good sign for the industry.

In Japan, December preliminary wages data are due at 1030 (0130 GMT). In November the average wages per regular employee in Japan for November rose a nominal 0.1% for the ninth straight year-on-year rise but it was the smallest gain in the current gradual pickup that began in late 2013. A gain of 1.6% is expected.

At the same time, BOJ Deputy Governor Kikuo Iwata is due to speak to business leaders in Sendai City.
Iwata will hold a news conference in Sendai from 1400 to 1430 (0500 to 0530 GMT).

Over to China then where the HSBC services PMI is due at 0945 local time (0145 GMT). This doesn't tend to get the attention drawn by the manufacturing index, in part because it's been stable in recent months.

Overnight, the dollar pushed lower against the other major currencies on Tuesday, after disappointing U.S. factory orders data added to Monday's weak U.S. economic reports, dampening optimism over the strength of the country's recovery.

In a report, the U.S. Census Bureau said factory orders declined by 3.4% in December, worse than expectations for a decline of 2.2%. Factory orders fell by 1.7% in November, whose figure was revised from a previously reported decline of 0.7%.

Sentiment on the dollar remained vulnerable after data on Monday showed that U.S. consumer spending fell at the fastest rate since September 2009 in December, dropping 0.3% as households saved on cheaper gasoline prices.

Separate reports showed that U.S. construction spending rose less than expected in December, while manufacturing growth slowed.

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Forex - Aussie rebounds after AI Group PMI shows upward trend

Investing.com - Investing.com - The Australian dollar recovered in early Asia on Monday after the January manufacturing index rose, offsetting upcoming data on China's manufacturing sector expected to confirm a soft phase.

AUD/USD traded at 0.7769, up 0.04%, while USD/JPY changed hands at 117.13, down 0.31%. EUR/USD traded at 1.1318, up 0.27%.

The Australia AI Group manufacturing PMI fr January rose 2.1 points to 49, still in contraction, but a tick up amid expectations that the central bank may mull a rate cut from the currenct record low 2.5%.

In China, the HSBC January manufacturing PMI us due at 0945 local time (0145 GMT) with a reading of 49.8 expected, the same as December. Japan also reports its manufacturing PMI for January with 52.1 expected.

At the weekend, China said January CFLP manufacturing PMI fell to 49.8 from 50.1 in December, placing it in contraction even as the timing of the Chinese
New Year holiday this year relative to last should have boosted the January reading.

Last week, the U.S. dollar was mostly lower against its major counterparts on Friday, as investors reacted to data showing the U.S. economy grew less than expected in the fourth quarter.

The Commerce Department said in a report that the economy expanded 2.6% in the final three months of 2014, below expectations for a 3.0% gain and slowing sharply from growth of 5.0% in the three months to September.

The U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, was quoted at 95.05, up 0.09%.

Meanwhile, the euro was under pressure after data showed that deflation in the single currency bloc deepened in January and amid growing concerns over Greece's future in the euro zone.

Greece's new government said it will not cooperate with the International Monetary Fund and the European Union and will not seek an extension to its bailout program, underlining fears over a clash with its international creditors.

In the week ahead, investors will be turning their attention to Friday's U.S. nonfarm payrolls report for further indications on the strength of the recovery in the labor market.

On Monday, in the euro zone, Spain is to release data on the change in the number of people employed.

The U.K. is to publish its manufacturing index. In the U.S., the Institute of Supply Management is to release data on manufacturing activity. The country will also produce a report on personal income and spending.

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Two bombs explode outside luxury Bangkok mall, no injuries - Thai police

THAILAND-BOMBS:Two bombs explode outside luxury Bangkok mall, no injuries - Thai police

BANGKOK (Reuters) - Two bombs exploded outside a luxury shopping mall in Bangkok on Sunday, a Thai police spokesman said, causing minor damage but no injuries.

Thailand's capital has been under martial law since May, when the military seized power to end months of sometimes violent street protests in the city.

(Reporting by Panarat Thepgumpanat and Khettiya Jittapong; Editing by Louise Ireland and Simon Webb)

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Indian rupee snaps its 4-week winning spree

The rupee ended at 61.86 per dollar as against the last weekend's level of 61.42, showing a gain of 44 paise or 0.73 percent. It moved in a range of 61.29 and 62.0350 per dollar during the week. The domestic currency had gained by 215 paise or 3.38 percent in the previous four weeks.

The Indian rupee snapped its 4-week winning spree against the American currency, slipping 44 paise to 61.86 per dollar on month-end dollar demand from importers and banks. The rupee resumed slightly lower at 61.49 per dollar as against the last weekend's level of 61.42 and fell further to 62.03 on good dollar demand from importers and some banks.

However, it recovered afterwards to 61.29 on selling of dollars by exporters in view of strong foreign capital inflows into equity market as foreign portfolio investors (FPIs) infused a net USD 779.85 USD million during the week as per SEBI's record.

The rupee ended at 61.86 per dollar as against the last weekend's level of 61.42, showing a gain of 44 paise or 0.73 percent. It moved in a range of 61.29 and 62.0350 per dollar during the week. The domestic currency had gained by 215 paise or 3.38 percent in the previous four weeks.

Meanwhile, the Indian benchmark sensex dropped by 95.89 points or 0.33 percent to 29,182.95 after hitting an all-time high of 29,844.16. Pramit Brahmbhatt, Veracity Group CEO said," After appreciating for four weeks last week Rupee lost its way and depreciated by one percent during the week. The month end dollar demand from oil importers and corporates forced Rupee to trade weak and close at 61.86".

Also the local equities lost its ground last week and posted first weekly loss in three weeks which further dented the movement of Rupee.

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Prabhu pitches for greater investments in Railways

Suresh Prabhu said that Railways' financial health is not good and there is an urgent need of increased investments in the areas of modernisation, safety and security of passengers. "We have decided to increase investment in Railways... We have also decided to connect with various states for this (investment).

Railway Minister Suresh Prabhu pitched for greater investments in railways and said development in the sector will help the country grow. The minister was here to flag off two new trains - Ahmedabad-Chennai bi-weekly express and Ahmedabad-Darbhanga Jansadharan express. He also launched Wi-fi facility at the city railway station.

"It is a matter of pleasure for the country that our economy is on the path of improvement and progress. With this, responsibility of Railways has also increased. We need to work on many levels," said Prabhu.

He said that Railways' financial health is not good and there is an urgent need of increased investments in the areas of modernisation, safety and security of passengers. "We have decided to increase investment in Railways... We have also decided to connect with various states for this (investment).

Railways will fulfil the needs for Gujarat's development as well. I will discuss with the Chief Minister on how to work on larger scale for improvement," he said. Prabhu later met with Chief Minister Anandiben Patel.

The minister also claimed that Railways was priority of the Prime Minister Narendra Modi-led government and the sector can contribute to his mantra of 'Sabka Sath, Sabka Vikas' (participation of all for development of all).

"Development of Railways is on the priority list of our Prime Minister. If railways develop, economy will also be strengthened... and GDP (of the country) will also rise by 2-3 per cent. Though our GDP is growing today, with much efficient railways system it will grow rapidly," he said. The minister said further development in the sector will also create jobs for youths.

Prabhu appealed to people to join Modi's flagship 'Swachh Bharat Abhiyan' and said the mission is associated with country's identity.

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