Work from home for IT and BPO industries, India Govt. eases guidelines



New Delhi: At a huge reform to the tech industry, which will ease permanent work from home to IT and BPO firms employees, the government on Thursday (November 6) done away with the majority of registration and compliance demands.

The rules for will create a friendly-regime for work from home and work from anywhere, while removing several reporting and other obligations for these companies. It is aimed at providing a strong impetus to the industry and positioning India as one of the most competitive IT jurisdictions in the world, an official release said.

Prime Minister Narendra Modi said that the Centre was dedicated to doing everything possible to ensure a conducive environment for growth and innovation in India, as the government declared simplified guidelines for the BPO industry and IT-enabled services. "The BPO industry participated in data-related work is out of the ambit of OSP regulations," Modi said in a succession of tweets.

The remarks come soon after the Ministry of Communications announced the simplified recommendations for business process outsourcing (BPO) and also IT-enabled services (ITES) players to reduce the compliance burden for the industry.

"India's IT sector is our pride and the prowess of this sector is recognised globally," Modi said. "We are committed to doing everything possible to ensure a conducive environment for growth and innovation in India. Today's decisions will especially encourage young talent in the sector!"

Union minister for electronics and IT, Ravi Shankar Prasad also tweeted that the Govt has taken a major reform initiative to liberalize the regulatory regime for OSPs. "This will boost the IT/ ITeS/ BPO industry and create a friendly regime for Work from Home in India".

Studying at Harvard Business School


 Undoubtedly, every applicant’s dream, Harvard Business School (HBS) needs no introduction. Consistently ranked as the best educational university, HBS is acclaimed for its focus on innovation, invention, and international exposure.  At Harvard, you will be challenged to think about different countries and different business context, come up with innovative strategies, and develop a truly global mindset.

Let’s try and analyze what makes HBR is a school of such enormous repute.

What to Expect?

Unlike the conventional textbooks teaching methodology, HBS will expose you to business scenario simulations, wherein you will learn how to make decisions in the face of conflicting data, complex politics, and intense time and fiscal pressures. In short, this school will groom you to develop a capacity for analysis, assessment, judgement, and action in the face of the ever-dynamic business environment, thus helping you succeed in a career of choice.


Course Architecture:

A magnificent blend of theory, practice, experience, and talent, the course architecture of Harvard comprises all the essential components that will help you become world-class professionals. With its in-depth case study approach coupled with the enviable hands-on FIELD course, you will learn how to put leadership into practise through teamwork, personal reflection, and global immersions. The highly learned and renowned faculty is like a cherry on a cake.

Quality of Education:

This point hardly needs to be elaborated upon given the reputation and standing Harvard enjoys globally. Ranked as the top institute by Bloomberg USA, HBS is known for its rigorous case study approach, inherently international experience, highly competitive environment, and world-class networking opportunities.

Cost of Education:

You may have to incur a high initial cost if you aspire to do your post-graduation from Harvard. Don’t let this discourage you, rather look at it as a two-year investment that will reap life-long gains.

Placement and Salary:

Name any class-A organization, and it will figure on Harvard’s placement list. Who wouldn’t want to hire professionals with such noteworthy pedigree? According to the 2015 issue of Forbes, the average base salary offered to a Harvard graduate was approximately US $125,000.


In conclusion, with hard work and prudent financial planning get yourself a seat in HBS and prosper for life.  


How to build a successful tech startup by PayPal founder Max Levchin

 How to build a successful tech startup by PayPal founder Max Levchin



Ayannah, the digital financial gift-remittance in Philippines

The Global Online Industries are rising exponentially and it will not be wrong to say that the customer base of Online Industries is going to cater a major portion of the population in the near future. The primary reason why many start-ups and already established firm in various sectors are gaining positive response is the large online user i.e. almost 3.5 billion worldwide  . One such company founded six years back is “Ayannah”. Ayannah is a digital financial gift-remittance company founded in 2010 by Mikko Perez. The company was launched as a startup in Philippines with the plans to enter South Asia and Latin America. Ayannah provides a great platform that allows payments of the products and services by the Filipinos who are working overseas for their families through Sendah site.  The services are mainly Sendah, Sendah Direct and Sendah Connect.

Sendah is a secure plain cash remittance service that provides a number of benefits for the vendors on the site that includes a number of discount deals which ensures the products to be cheaper online than off the shelf. The another service is  “Sendah Direct”, which is a reliable online service provider that offers customers to buy prepaid mobile topups, credits for gaming, and gift certificates along with benefits of money transfers amongst large retailers. This service has added 7000 retail partners with a million customers only in Philippines. The third service that has been launched recently is a mobile app for Android phones named “Sendah Connect” that allows SIP calls with an additional feature of archiving the video content on mobile phones. The payment is made through a prepaid online wallet service.
The company has just received $1 million in its first angel.  This round of $1 million was led by LA-based Siemer Ventures and Golden Gate Ventures, which has operations in Singapore and San-Francisco. Including this round, Ayannah has received $2.5 million to date.

According to data it employs only 45 staffs in Philippines and has about 50000 users, which is in itself a great achievement and it’s targeting 200 million Philippines working abroad. The company is also focused to expand its market to US, Japan and Singapore.

Lazada Topple the List of Top Internet Startups in Philippines


MANILA, PH: Philippines based e-commerce playerLazada has been recognized as the top ranked Internet startup, according to the maiden listing of Forbes magazine’s Philippines edition. The ranking for the May month issue is solely based on the parameter of the gross revenue generated by the Internet Startups.
Lazada notched up the top spot with whooping gross revenue of P1.1 billion for the year 2014. The second spot however is closely followed by Entertainment Gateway, the mobile content provider which has raked in an amount of P853.9 million. Fashion retail player Zalora recorded revenue of P465.9 million to come third. The fourth and fifth positions were blocked by Internet remittance firm I-Remit Inc. with gross earning of P453.6 million and Xurpas Inc. that tallied P331.8 million from its mobile content market.
The position sixth to tenth was occupied by Chikka Philippines, an instant messaging platform, followed by game-based company- Level Up!, and social news networking companyRappler; e-commerce site MetroDeal and online tutorial service provider Rare Philippines in the respective position. Also included in the list were the renowned online transportation networking companies, Grab and Uber landing in the 11th and 17th position.  
Several companies on the list are quite popular among internet users, but this is likely the first time that a comparison has been made in terms of income and revenue, reported Forbes.
The rankings were assembled from more than 200 promising startupsbased on the initial inventory collected from various sources like Department of Science and Technology (DOST), business incubators, as well as from venture capital funds.
Back in August 2015 DOST released a Roadmap for Digital Startups to evaluate the future success story of the companies.
Moreover, only those firms identified by the Securities and Exchange Commission (SEC) and having recorded total gross revenue of minimum P1 million in the fiscal year of 2014 made into the rankings. That further slashed the list of 200 companies to only 46.
In addition, the list also revealed the companies that underwent exits by the means evaluation at the time of assessment or during an initial public offering (IPO) or share sale.
The Forbes list also included startups that are based outside Metro Manila, likeCaresharing, an app to guide doctors, jobs hunting platform Mynimo.com, voice and text campaigning portal engageSPARK. In the list are also present three companies that are based in Cebu City, which provides a platform for budding startups that look out for immense talent pool and lower living expenses. Companies involved in financial services, gaming, real-estate, education, and software integration wrap-up the list.
The companies saw revenues in 2014 taking a jump by 134 percent in comparison to the year previous. Butstrangely half of those companies were also on the losing side in terms of their investment.


Medical Tourism Across the Globe


Medical tourism refers to travelling of people to another country for obtaining medical treatment in that country.
 Medical expense are high in U.S, for which people tend to prefer the contry who has cheap medical procedure and high standard of care.
India has been the hub for medical tourism due to its cost-effective medical care. In the metro cities you can find modern technology equipped medical facilities, such as AIIMS, Apollo, Manipal hospital. Hospitals has also hired language translators so that people from abroad doesn’t face any difficulty.
According to Confederation of Indian Industries (CII), the estimation of India’s medical tourism worth US $ 3 billion. It has been projected that till 2020 it will grow to 7-8 billion.
By looking at the rising figure, Narendra Modi inaugurated IndiaHealthCareTourism.com. This web-portal guides tourist patients who are looking for treatment in India. It comprises of 93 topmost medical centres, 30 Ayurveda and wellness centres.
Some of the services those are available to the patient from abroad are-
·         Hospital/clinic as per requirement/budget.
·         Treatment from doctors trained in USA/UK
·         Arrangement of appointment with the doctors.
·         Nurses/guides
·         Visa facility
·         Arrangement of accommodation for family or attendants
·         Arrangement of post treatment.
All these facilities within budget and also the good quality of treatment attract more tourists to India. In USA people won’t be able to afford all these facilities. The ease of travel to India is also one of the prime causes for the flow of patient from abroad.
Facts and Statistics-
Let’s check some facts about medical tourism. Facts shows that,
a)      Medical tourism is a thousand year old process. In medieval times, people used to believe in cult. It was believed that the gods and goddess of temple Tell Brak, Asclepia can cure diseases. Pilgrims from Greek and Rome would travel to those temples to seek cure.
b)      Joint Commission International (JCI) is a non-profit organization. JCI accredited hospitals and healthcare centres in and outsides USA. It has accredited 458 hospitals around the world and 15000 health care centres in USA. If any patient wants to ensure high standard of medical treatment they prefer JCI accredition. According to Delloite, in 2009, predicted that half a million of USA’s patients will travel for medical treatment, and there will be 35% increase in medical tourism over the coming year.
c)       During the stay a patient will spend most of their time engaging into physical rehabilitation in their hotel. Their stay in hospital will be for two or three days only. Thus they will be needed to choose a hotel who has experience with medical tourist and comprises every bit of facilities you require.
d)      Companion is one of the important fact to consider. As the presence of your companion will affect your recovery. The company one brings may be willing to stay by side or may-not. As it is you who matter the most, choose wisely who will be your companion as he needs to stay beside you, and assist you in your recovery.
Now let’s check some statistical data. Here are some major heading who comprises some mind boggling data’s related to medical tourism in U.S. and other countries around the world.
MTA patient survey-
Metropolitan Transportation Authority (MTA) presented some amazing data on medical tourist on US citizens.
  • 64% of patients that travelled abroad for care did not have health insurance.
  • 33% of patients travelled abroad for cosmetic surgery.
  • Almost 90% of patients or their companions engaged in tourism activities.
·         85% of US patients found they received more personalized medical care than in the US.
  • Nearly 27% of patients had previously travelled to a foreign country to receive medical care, most were female, all were between ages 45 and 64; all were American; all were college educated; half had household incomes between $50,000 and $100,000; and some had health insurance (50%), while other did not.
  • Nearly 80% of the demand for medical travel is driven by cost savings.
  • Medical tourists spend between $7,475 and $15,833 per medical travel trip.
  • The cost of medical treatment (85%) and state-of-the-art technology (83%) were the most important factors in their decision to travel abroad for treatment.
U.S. Healthcare statistics-
The data’s from U.S. Healthcare shows why do U.S. citizen prefer medical tourism. Most because its cost efficient. In 2013, Nerd Wallet Health analyzed data from the U.S. Census, Centres for disease control, the federal court system and the Commonwealth Fund and found that:
·         56 million Americans under age 65 will have trouble paying medical bills.
·         Over 15 million American adults (ages 19-64) will use up all their savings to pay medical bills.
·         Nearly 10 million American adults (ages 19-64) will be unable to pay for basic necessities like rent, food, and heat due to their medical bills
·         Over 16 million children live in households struggling with medical bills
·         Despite having year-round insurance coverage, 10 million insured Americans ages 19-64 will face bills they are unable to pay
·         According to a recent report of the Organization for Economic Cooperation and Development (OECD), the U.S. spends almost 18 percent of its gross domestic product on healthcare that’s more than any of the 34 OECD countries.
·         Due to the changes of healthcare reform, the Deloitte Centre for Health Solutions reported that 60 percent of doctors surveyed revealed they are likely to retire earlier than planned, perhaps, within the next 1-3 years creating a shortage of doctors.
The above data significantly shows the necessity of medical tourism for the U.S. citizens. India is one of the favourite medical hub for the U.S. citizens due to its cost saving and standard medical facilities.
Statistics on medical tourism of other countries of the world-
Let’s set some light on the data’s of the countries who receive patient in search of medical facilities.
  • A 2013 MTA Medical Tourism Patient Survey found that Mexico and India respectively have the highest demand for medical tourism.
  • Data from the Council for International Promotion of Costa Rica Medicine (PROMED) shows that in 2012, Costa Rica attracted nearly 50,000 medical tourists (mostly from the U.S. and Canada) and each one spent an average of $7,000. Close to half of these medical travellers were said to be dental, followed by orthopaedics, weight loss surgeries, gynaecology and plastic surgery. Medical tourism generated some $338 million in revenue for the country that year, PROMED reported.
  • According to the Indian High Commission, Indian hospitals received 18,000 Nigerians on medical visas in 2012, 47% of the Nigerians were in India to receive medical treatment and spent approximately $260 million USD.
  • Mexico’s Secretary of Tourism said that almost 12 million international visitors arrived in Mexico in 2013, 6.5 million of the visitors were from the U.S.
·         The Korea Health Industry Development Institute reported in 2012 that 159,464 patients from 188 countries visited Korea in 2012, 32,503 of those patients were Chinese.
·         In 2012 the Ministry of Public Health, Thailand and the Kasikorn Research Centre found that 2,530,000 international patients travelled to Thailand for treatment, the top five nationalities were; Japan, U.S., UK, GCC and Australia. Revenues generated from medical tourism were approximately 4 Billion USD.
  • According to Rohini Sridhar, Chief Operating Officer of Apollo Hospitals, the number of international patients visiting the hospital has been witnessing an increase of 20 per cent every year. “We provide medical care for around 400 to 500 people from European countries, Malaysia, Singapore, Sri Lanka and the Middle East in a year,” she says.
These facts throw light on the rising preference of medical tourism specially, by the US citizens, and the places they prefer for medical treatment.
Lets us now see some more facts which gives rise to relevant reason for the preference of medical tourism now-a-days, as well in the coming future and also its impact in the global healthcare industry.
Over the year, medical tourism has gained quite a big response. USA has been marked the top country to have half a million people to travel abroad for medical help.
Why do people go abroad for medical treatment?
Though cheap medical treatment is consider one of the main reason for medical tourism, but there are people who travel abroad seeking advanced technology, better healthcare, and faster medical treatment. The May 2008 Mckinsey and Company report, states that 40% of medical travellers seek advanced technology, 32% seek better healthcare, 15% seek faster medical services, while only 9% of travellers seek lower costs as their primary consideration. Lack of health insurance is also a good reason for medical tourism.
  • India has become a medical tourism hot spot, with 166,000 international patients in 2012 coming to the country due to the selection of highly skilled doctors and improved medical infrastructure.
  • Singapore has been a growing medical tourism centre in South East Asia with 850,000 medical tourists arriving in 2012.
  • Due to its close proximity to the U.S., Mexico has become a top medical tourism destination with 40,000 to 80,000 American seniors spending their retirement there with a considerable number receiving nursing home and health care.
  • After more than doubling in the last 5 years, Malaysia is also becoming a famous destination with 770,134 medical travellers in 2013.
  • Singapore has been a growing medical tourism centre in South East Asia with 850,000 medical tourists arriving in 2012.
Cost saving among the medical tourist nation-
It is reported that the US citizens save upto 25% to 75% on medical treatment. Dental, cosmetic, orthopaedic, and cardiovascular are some of the services that the US citizen travel abroad for treatment.
Mexico, Costa Rica, Panama are preferred for dental or cosmetic services. South-east Asia and India are preferred for orthopaedic and cardiovascular treatment.
Below are the list of some cost saving medical tourism destination-
  • India provides various healthcare services at 20% of the U.S. cost.
  • Costa Rica offers 30% to 40% savings for dental and cosmetic surgery services.
  • Mexico is a favourite destination offering 25% to 35% savings for dental and cosmetic surgery.
·         Singapore offers various medical services in 13 JCI accredited hospitals for only 35% less than U.S. prices.
·         Cosmetic surgery and alternative medicine can be obtained in Malaysia for 25% of the U.S. cost.

Summary

The medical tourism industry has a bright future. With the benefits provided more and more patients are attracted for treatment abroad. Companies like Hannaford Bros. Co offers offshore medical facilities to their employees.
Companies like Aionia Medical Travel, Celsus Medical, ClinicAccess are some of the medical tourism agencies.
Though medical tourism shows favourable benefits, the patient should research about the hospitals, what kind of facilities they provide, whether it is favourable to do the treatment in US or abroad. Reviewing the doctor’s credential and consulting with other patient is highly recommended.

Mini-GMAT for Working Professionals

Recently Graduate Management Admission Council (GMAC) has announced an exclusive MBA entrance test for the working professionals. The main purpose of this test is to endow the prestigious MBA tag to them.
GMAC is the governing body of GMAT exam. It regulates the admissions in more than 2000 Business schools across the globe, including those in London School of Business and Wharton School of the University of Pennsylvania.
“The entrance test will not be complex and will relatively simpler as compared to the standard GMAT and it will be only for candidates who have work experience of more than eight years,” as said by the council members.
The world’s renowned management institutes like the Chicago Booth University, London School of Business, The University of Hong Kong and other institutes accept the score of the entrance test conducted for Executive Admissions (EA), as these b-schools offer Executive MBA (EMBA) including other B-schools as well.
EA is termed as mini-GMAT. The major differences between the tests are that GMAT consist 37 problems each from verbal and reasoning and one more section of Analytical Writing assessment. Whereas mini-GMAT, test contents three sections extracting 14 verbal and quant questions. The EA aspirants can take this examination only twice.
Andy Martelli, the vice-president of product development, GMAC, said, “The GMAC is committed to improving graduate management admission experience for schools and candidates, including seasoned professionals seeking to attend business school,”
EA is a product by GMAC which can enable working professionals to achieve higher accomplishments in working career by undergoing an EMBA. And make their job easier with the thorough knowledge of personally gained experience and educational teachings.
If you’re one of those working professionals who don't carry the tag of MBA as it requires religious study hours and dedicated practice to qualify GMAT; then mini-GMAT could be a best option for all. Byju’s Classes- The learning App created GMAT preparation App, which contents all the relevant topics in the form of video lectures. This gives a freedom to the learners to study from where they want. The app is  mostly preferred by the working professionals due it’s easy teaching methods enables them to grasp the points quickly.  Take the trial of app, download it from Google Play Store  or IOS store.