MxMIndia

Tag: Gautam Sinha

  • While Raghunath will head various editorial brands of the group, Saran has been named Chief Editor of Times Internet

    Durga Raghunath & Rohit Saran join Times Internet

    By A Correspondent

     

    Durga Raghunath
    Rohit Saran

    Times Internet has announced the appointment of Durga Raghunath and Rohit Saran to lead its digital properties.

     

    Raghunath has been named Digital Head of Times of India, Mirror Brands (Mumbai Mirror, Pune Mirror, Bangalore Mirror and Ahmedabad Mirror), Newspoint, Gadgets Now and Etimes. She was until recently SVP Growth at Zomato (Dec 2018-Aug 2020) and was previously Founder and CEO of Firstpost and Network18 Digital (2010-14). She has also been CEO, Indian Express Digital (Dec 2017-Dec 2018) and Co-founder and CEO of Juggernaut Books (Sep 2015- Aug 2017).

     

    Meanwhile, Rohit Saran has been named Chief Editor of Times Internet.  He was previously the managing editor for The Times of India (Print) and Executive Editor of The Economic Times (Print). He has held senior editorial positions at the India Today Group where he was Executive Editor of India Today and Editor of Business Today. He also edited The Khaleej Times in Dubai. He was also Editor of the South Asian edition of Harvard Business Review and Scientific American.

     

    Speaking on the announcement, Gautam Sinha, CEO, Times Internet said: “We are excited about our next stage of technology-led relationships with users, content producers and advertisers. Durga’s entrepreneurial energy and experience, and Rohit’s broad editorial exposure and deep understanding make us believe we can set and achieve audacious goals over the next five years. Both senior leaders would report to Times Internet COO Mr. Puneet Gupt.”

     

     

  • A cross-section of the industry reacts to Nirmala Sitharaman’s maiden Budget

    Industry Reax to Budget 2020-21

     

    A cross-section of the industry reacts to Nirmala Sitharaman’s maiden Budget 

     

    Girish Menon, Partner and Head, Media and Entertainment, KPMG in India

    Although there was no direct reference to the media and entertainment sector in Budget 2020, the focus on improving India’s digital connectivity bodes well for the sector. The Honourable Finance Minister’s announcement that an amount of INR 6,000 crores will be spent on BharatNet initiatives will see more citizens connected to the proposed pan-India FTTH network. Media and entertainment is increasingly becoming a digital medium and an enhancement of the underlying digital communications infrastructure will support more immersive experiences. Finally, the focus on building a vibrant start-up ecosystem with measures to improve access to funding and IP protection will help India emerge as a global hub for technological innovation.

     

     

    Rakesh Jariwala, Partner – International Tax Services, EY India

    Removal of exemption on sale, distribution and exhibition of cinematograph film will subject theatrical revenues to domestic withholding tax considerations and could pose working capital considerations for already funding constrained film industry. Amendment of source taxation rule to include advertising income relating to customer based in India while global consensus is being formed on digital taxation rules may result in short term pain for the foreign businesses which do not have access to a tax treaty. Reduction of withholding tax rate on technical services to 2% will provide relief on potential rate related disputes on production services. Reduction in import duty of news print should help the ailing print businesses. 

     

     

    Ashish Bhasin, CEO, APAC and Chairman, India – Dentsu Aegis Network:

    I think this is a good budget in some ways because it has attempted to put money in the hands of the middle class through rationalisation of tax rates as well as has concentrated on looking after the agricultural sector, including introduction of best practises like storage for producers and other measures. However, I do feel that the expectations from the budget were much more and it does feel like a bit of a missed opportunity.

     

    While it is good to see that the dividend distribution tax has been abolished, I expected more on the rationalisation of direct taxes, particularly the cess introduced over and above the tax rates.

     

    It is good to see efforts being made to encourage new-age skill development as well as helping the start-ups and what’s particularly interesting is the proposal to set up data centre farms all over the country. This will prepare India for the economy of tomorrow. It is also good to see attempts at simplification of taxation through digitisation but the proof of the pudding will lie in seeing its implementation on ground.

     

    It would be fair to say that at best it is a mixed budget and while there are some encouraging decisions, enough does not seem to have been done for the situation the economy is in.

     

     

    Karan Darda, Executive Director, Lokmat Media Group:

    We welcome the proposed reduction in custom duty on import of newsprint and light-weight coated paper. In recent years, newspaper industry has been facing many headwinds and the environment has overall been very challenging. 10% customs duty was introduced last year and that added to the burden. The reduction in customs duty would ease the burden and help the industry in this critical juncture. 

     

     

    Anand Bhadkamkar, CEO, Dentsu Aegis Network (DAN) India:

    The budget has provided relief to middle class with lower tax rates which is a welcome move, as it will provide more liquidity. On direct taxes, the abolition of DDT and introduction of a tax dispute resolution scheme is a welcome step alongside tax reliefs for startups.

     

    The budget is focusing on easing and simplification of compliance, with changes in corporate laws as well as in GST and direct taxes. However, I was expecting further simplification of cess and surcharges beyond tax rates across slabs.

     

    The proposals for development of road infrastructure, setting up data centre parks and skill development initiatives are welcome steps in addition to allocations for social welfare schemes.

     

    However, the expectations from the budget were high on the background of current economic slowdown, and as such seems to be short on matching those expectations, with no specific industry sector focused sops to provide stimulus. While the budget shows focus on long term growth and social development, overall in the current scenario it looks like a mixed budget, falling a bit short of market expectations of more corrective measures.

     

    Gautam Sinha, CEO – Times Internet:

    Budget 2020 is a promising step towards establishing India’s future as an enduring digital economy. The increased focus on improving data connectivity under Bharat Net, steps to boost the smartphone manufacturing industry and the Rs 8,000Cr allocation for the National Mission on Quantum Computing & Technology will help build better digital infrastructure to support this sector’s rapid growth. Finally, deferring tax on ESOPs for startups is also a major move that will help promising startups attract and retain talent that would fuel our burgeoning digital ecosystem.

     

     

    Redickaa Subrammanian, Co-founder and CEO, Resulticks:

    Digital disruption has transformed India’s business landscape and the announcement for building more data centre parks will further aid in laying a strong foundation for a digitally connected country. INR 8000 crore allotment for developing quantum technology is impressive, and this in tandem with the grassroots level skilling initiatives, make for a strong technology ecosystem. Engineering students will also gain real-world experience through the new internship programs, creating a digitally skilled talent pool equipped to work in a digital economy.

     

    As a fast-growing AI and ML based technology start-up, we welcome setting up of the investment clearance cell. The proposed revisions in the income tax structure should lead to increased consumer demand and provide an overall impetus for economic growth in India. The announcement made in Budget 2020 showcases the government’s support for India’s technological advancement and we are excited about the entrepreneurial spirit it promotes.”

     

     

    Prashan Agarwal, CEO – Gaana:

    We appreciate the efforts of the government to boost the digital ecosystem in the country. The increased focus on improving connectivity under the Bharat Net scheme and the emphasis on Artificial Intelligence will allow OTT players to offer bespoke and personalised solutions to consumers. Additionally, the impetus to the smartphone manufacturing industry will make internet consumption accessible to a wider section of Indian society that will expand the scope of revenues for OTT players. The allocation of Rs 8000 crore for setting up the National Mission on Quantum Computing and Technology will also boost the development of the industry by making resources cost-effective.

     

     

    Mitesh Shah, Head of Finance, BookMyShow: 

    At the onset, we would like to laud Government for growth driven budget. We welcome the progressive policies aimed at encouraging rural demand, changes in personal taxes spurring consumption and impetus to infrastructure development, measures aimed at bolstering growth and reverse slowdown. Additionally, taxation related on ESOPs as perquisite and removal of DDT are significant moves. However, the benefits of taxation relief on ESOP should be expanded to companies at various stage of growth.

     

    Compliance on e-commerce has been increased by mandating them to deduct TDS @1% on all goods and services sold on e-commerce platforms. This would be in addition to TCS under GST and this amendment might further increase the cost of compliance for e-Commerce companies. Government’s vision to build data centre parks, allocation towards quantum computing and its focus on using artificial intelligence in statistical and other government departments will take India’s growth story to the next level.

     

    Increase in compliance on e-commerce by mandating deduction of TDS @1% on all goods and services sold on e-commerce platforms. This would be in addition to TCS under GST and this amendment might further increase the cost of compliance for E-Commerce companies. Government’s vision and focus on investing in new age technologies to build data centre parks, allocation towards quantum computing and its focus on using artificial intelligence in statistical and other government departments will certainly give an impetus to ‘Digital India’.

     

     

    Kunal Bahl, CEO & Co-founder, Snapdeal:

    Thankful to the Hon’ble FM for accepting the start-up sector’s request for ESOP taxation reforms. Also, the higher time & turnover limits for carry forward of losses for start-ups will enable them to optimize growth decisions in formative years.

     

    Overall, Budget 2020 is a thoughtful weaving together of specific proposals to tackle varied issues. Measures to improve access to finance for MSMEs and reduced taxation for the middle-income segment are welcome steps. Boosting physical infrastructure, expanding digital connectivity and growing use of technology in government functioning are important building blocks for the long-term growth of the Indian economy.

     

  • Puneet has been associated with the Times Group for over ten years and since 2011

    Times Internet elevates Puneet Gupt to COO

    By A Correpondent

     

    Times Internet has announced the elevation of Puneet Gupt as the COO of Times Internet, with immediate effect.

     

    Gupt has been associated with the Times Group for over 10 years and since 2011 he has been head of Times Internet’s news business.

     

    Announcing the elevation, Gautam Sinha, CEO of Times Internet said: “Puneet has been an invaluable asset to Times Internet. He is audacious, customer-obsessed and has rich experience in starting, growing and scaling up digital businesses. Puneet will be working closely with me to drive our ambitious growth agenda. He will lead our efforts in making Times Internet the go-to digital destination for every Indian’s information, entertainment and transaction needs.”

     

    Added Gupt: “Times Internet is a company that dares you to think big, and empowers you to make your dreams a reality. I look forward to amplify our growth by identifying and building category defining digital products that become the benchmark in quality and value proposition for our customers.

     

     

  • The Times Internet- DMAasia report throws up some interesting data from the CMO perspective

    Customer engagement key focus for 45% marketers

     

    By A Correspondent

    Times Internet, in association with DMAasia, today released a report titled “The State of Indian Digital Marketing- a CMO Perspective 2017-18.” The second edition of the comprehensive online study was conducted by surveying a group of over 150 marketers from leading brands across verticals including real estate, pharma, FMCG, auto and retail. The report underscores their learnings for the year gone by and highlights their priorities and predictions for the year to come.

     

    Key Highlights:

    • Content marketing displaced social media marketing and emerged as the top strategy for marketers in 2017, as per 57% respondents
    • Social media marketing saw a 30% decline over the previous year as only 36% of surveyed marketers cited it as a strategy that worked well for them in 2017
    • Over 42% of the surveyed marketers allocated more than 25% of their total marketing spends on digital marketing in 2017
    • Securing enough budgets for digital marketing and measuring ROI remained the two of the greatest challenges faced by marketers in 2017 at 32% and 27% respectively
    • With regard to the frequency of measuring ROI on digital marketing, weekly and monthly measurement remained the most chosen options at 38% each
    • Almost 30% of the marketers said consolidating their content marketing strategy would be their key focus for 2018, closely followed by measuring ROI at 27%

     

    Commenting on the findings of the report, Gautam Sinha, CEO, Times Internet Limited said: “As we move forward at full throttle toward a more digitally inclined audience, marketers need to have a keen ear to the ground, to identify the trends and evolved mediums that their customers prefer. Our report goes on to capture the finer nuances that have been shaping how this environment is changing. We hope that our intensive research, in collaboration with DMAasia, culminated in this report, helps marketers in India stay ahead of the game and align their strategies and budgets accordingly”

     

    Added Vatsal Asher, CEO, DMAasia: “We are delighted to launch the second edition of the “The State of Indian Digital Marketing- a CMO Perspective 2017-18”, an exhaustive and in-depth study unveiling insights from over 150 CMOs across 15 verticals. The report, which has been curated in partnership with Times Internet, serves as a guide for marketers to prioritize efficiently to ensure growth and enhance customer experience. As revealed in the report, content marketing has taken centre stage, promising exciting times ahead.”

     

  • Gautam Sinha Director- Technology & e-Commerce, Times Internet Ltd talks to MxMIndia about TIL's investment in a logistics company and more

    Times Internet acquires stake in logistics co

    In a move towards enriching customer experience and delivering quality service, Times Internet has invested in New Delhi-based logistics company, Delhivery to step up its last mile delivery for Indiatimes Shopping. Speaking to MxMIndia’s Shruti Pushkarna, Mr Gautam Sinha, Director- Technology & e-Commerce, Times Internet Ltd said that this acquisition is done to boost the delivery capabilities of the e-commerce vertical. He said: “After pivoting from a marketplace to a retailer model, we had to strengthen our warehouse network and last mile delivery. Some e-commerce companies in India are doing this by launching their own courier network, but that requires time to scale, hence we have decided to take the acquisition route.” Currently Indiatimes Shopping has Fedex, Bluedart, ASL and Aramex as its logistics partners.

     

    Gautam Sinha joined the Times Group in 2007 as CTO, and is heading e-Commerce as well. He leads and drives the technology strategy, vision and execution for all the internet, mobile and telecommunication properties of the group. He has over 24 years of rich experience in technology innovation and execution, which includes a wealth of startup and industry expertise. Most recently, Mr Sinha was the COO/CTO of CashEdge Inc, where he worked since 2001 building and leading the company from startup to profitability.

     

    Mr Gautam Sinha spoke about the recent investment in Delhivery given the importance of logistics and the focus area for TIL’s e-commerce business.

     

    Can you throw some light on the strategic investment you are making in a logistics company?

    Logistics is the key to any e-commerce player and there are multiple approaches a business can take. One is to build your own logistics company. Another approach is to work with third party partners, which we have been doing so far, and have strategic tie ups with one or more such partners. The third case is what we have done. Understanding the importance of logistics, we invested in a company which can have very tightly coupled systems and processes with us to make it work as if it’s your own company in-house logistics. That’s the reason why we invested in Delhivery. And this is just first of the series of investments and we are actually looking at multiple such investments.

     

    Why this investment in logistics? Wouldn’t it better to outsource it?

    We continue to outsource, so even with the investment, we are still outsourcing. They will execute the orders as an independent company.

     

    How is Times Internet’s e-commerce doing?

    We are doing very well. The growth has been on target and as per plan. We expect to grow another 100 per cent this year in terms of business. And we will be a credible player in this space. We used to be in the marketplace model, and we are pivoted to the e-commerce model, where we own the entire experience, right from warehousing to last mile delivery is owned by Indiatimes Shopping. Previously, this part of the experience was owned by the suppliers, which were on our platform; now we do end to end experience management for every business that we do.

     

    There have been several e-commerce players that have come up in the last few years… especially in the lifestyle segment?

    Indiatimes is a horizontal player. Our primary focus, as of today, is in the electronics, mobiles, computers, cameras, movies, music, books and games. The other category we are interested in is gifts. Although it’s true that a lot of players have come up in the fashion category recently, we don’t see a lot of impact on the business because of fashion as an industry.

     

    Deals sites have been doing very well, as also classified sites like Olx, Quickr and so on?

    They will continue to do well because there are a lot of people who are in the market for second hand products because of the price advantage. So Olx is a good place for buying used products. But if you talk of deal sites, they are typically in the services space, and only recently, a lot of them have started using products in terms of deals. For example, Snapdeal and Mydala are using more products in the deals space, but primarily they have been in the services space like spas, restaurants and so on.

     

    Given the current environment, what are the steps you are taking to shore up revenues?

    I think the market is growing at 60 per cent atleast and certain players are growing at 100 per cent or more. And the growth of the market is because of a lot of people converting from offline to online, the growing penetration of internet and the improved ability to brand yourself and deliver quality services. The first two are functions of the market, so our focus is on getting the repeat customers, so that the lifetime value of a customer is realized with the platform. So using that, we expect to grow at 100 per cent this year as well.

     

    If you look at the revenue pie of TIL, how much of it is brought in by e-commerce?

    See I can’t share this information, but I can tell you that e-commerce as a business is a focus area for TIL. We have put increased focus on it and that’s the reason you’ll see investments made by TIL in e-commerce in other players which are contributory to the ecosystem in the way we play in. So for example, Flipkart went ahead and built their own logistics network, we chose to invest, Snapdeal doesn’t want to do either, they want to outsource. For us, outsourcing but having a strategic relation was the right way to move forward. And we want to do it with more and more such companies so we can strengthen the ecosystem in which we play.