Category: Kharcha paani

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Trends

The season’s top 3 watches for men

The T-Classic Collection by Tissot has superb timepieces for the suave man, guaranteed to make a superb, lasting first impression.
by The Editors | editor@themetrognome.in

A lot has been said about the unmatched charm of a well-dressed man but what’s often taken for granted is the ability of a watch to elevate your look and leave a lasting first impression. Wearing a luxurious watch inevitably puts you in the category of people who respect the value of time and have a polished, timeless sense of style. One of the biggest players in the business, Tissot has carved a niche in the world of timekeeping by setting unparalleled standards in terms of technology, functionality and aesthetics.

The Tissot T-Classic Collection is a true embodiment of the priceless, undying charm associated with a classic watch, especially a gorgeous mechanical timepiece with a beating heart. In this fast-paced world, a classic watch is an invaluable possession and the Internet has made it easier than ever to browse through varied collections of timekeepers and find a great price for classic watches like Tissot.

The T-Classic Collection exemplifies that when it comes to watches, the design is just as important as practicality. It is a mirror reflection of the Swiss watch legacy, known especially for its dependability and durability. The wide range of timepieces is a favourite among many watch lovers, often found being passed on as heirlooms. Given the emotional and material value associated with your wristwatch, you need to pay special attention not just to your choice of brand but also where to buy the watch from. When looking for Tissot Watches in India, it is best to opt for reliable, trusted retailers such as Ethos Watch Boutiques, to ensure seamless sales and after-sales experience.

Here are 3 top watches from the range that are guaranteed to leave a lasting impression:

Tissot 11 Tissot T-Classic: Le Locle (Model No: T006.428.36.058.00)

The name Le Locle itself is a sign of reliability and success. Apart from signifying the Swiss Jura Mountains – heritage and home of Tissot – Le Locle is also the name of a strongly admired range of automatic watches, setting a cornerstone in the world of timekeeping. The classic, round dial is complemented with a traditional black leather strap, making for a versatile addition to your wardrobe. It is a highly elegant and sophisticated timepiece, made special with the addition of the trademark Le Locle signature and roman numerals. The T-Classic Le Locle will give you great company from the early hours of the morning to wee hours of the night.

2 Tissot T-Classic: Tradition (Model No: T063.428.22.038.00)

The perfect blend of everlasting design and modern watchmaking technology, the T-Tissot 2Classic Tradition by Tissot is extremely high-tech in its operation and mechanics. But what makes it truly unique is the intelligent hint of vintage style. The watch features a subtly curved sapphire crystal case and guilloche decoration, strapped in with a sophisticated silver steel and yellow gold strap. It also boasts of a date and small second’s keeper.

One would be understating when calling this beauty a faultless amalgamation of top-in-class functionality and ageless aesthetics. The simplicity of the timepiece makes it an ideal companion for everyday use. Be it a 9am meeting or a candle light dinner by the pool, it’ll speak volumes about your personality wherever you go.

3 Tissot T-Classic: Classic Dream (Model No: T033.410.16.013.01)

True to its name, the Classic Dream from Tissot’s T-Classic Collection is nothing short of a beautiful dream. Contemporary meets nostalgia with this one as the timepiece Tissot 3features a brown leather strap with a classic white dial. Made of sapphire crystal, the round steel case is 38mm in size and features Quartz movement. The watch is ideal for a contemporary man who is close to his roots but lives in the modern world. Adding this watch to your wardrobe will serve as a daily reminder that you must strive to be on top of your game every day, just like the pointed hands of the gorgeous timepiece.

All the above-mentioned models from Tissot’s T-Classic Collection make an important statement. They add an essence of timeless sophistication and classic elegance to the wearer’s wardrobe. Choose a timepiece that feels most true to yourself and your personality, one that’ll complement your style any day of the year.

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Kharcha paani

What are the benefits of GST?

The Goods and Services Tax (GST) was introduced by the Government of India with the aim of normalising the tax law.
By The Editors | editor@themetrognome.in

The indirect tax regime was introduced to simplify the process of tax registration and filing and to bring all the goods and services under a single umbrella.

Compared to the old taxation system prevalent in the pre-GST period, the new rule has a number of advantages. Some of the GST benefits are as follows:

  • Cascading effect

The new tax regime would prevent the tax on tax effect, which is the cascading effect on the taxes applied. This would prevent double taxation.

  • Single law

GST would harmonise the taxation law in the country. It is a single law, which caters to all brackets of goods and services.

  • Competitive edge in the international markets

GST would provide exporters a competitive advantage by the medium of neutralisation of taxes, which would positively affect their cost price.

  • Investments

The law would encourage investments and would lay grounds for more apt investments in the country.

  • Reduced tax burden

The average tax burden on the companies would come down. This would help them in reducing prices of their products and services. This would insinuate the production and would provide impetus in industrial improvement.

  • Reduced tax leakages

The new tax system has provided online mediums for registering and filing taxes. This is a much simplified medium for payment of taxes. This would help in reduced tax evasions. This medium would provide stipulated and common timelines for the tax payers.

  • Common procedures

The system has introduced common procedures for registration and filing of tax. This makes the taxation uniform and simplified.

  • Transparency

The new system is much more transparent in comparison to the old system. It provides more transparency, more efficient and effective compliance, impetus to the industries, manufacturers, common people and the overall GDP growth.

The new taxation can also be looked in the light of impact on trade and consumers. In comparison to the old system, below are the benefits of GST for trade, commerce, and common man.

Benefits to traders (Industries, e-commerce, other business enterprises) Benefits to consumers (citizens)

 
·     Single law, no multiple taxations ·    Simplified taxation
·     No cascading effect or double taxation

 

 ·    Reduction in cost/price of production due to elimination of cascading effects
·     Impetus to exporters ·    Uniformity in prices
·     Simplified rule ·    Transparent taxation, common law
·     Fewer tax brackets ·    Boosts economic growth and benefits the consumers

 
·     No parity between goods and services ·    Helps increase the GDP

Thus, it is quite evident that the new taxation regime would not only be beneficial for the common man but also help in the development of the overall economy of the country.

(Picture courtesy www.legalraasta.com)

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Kharcha paani

Are you making these 5 money mistakes?

Good salary, but never have enough of money on hand? Chances are, you’re making one of five common money mistakes.
Team Metrognome | editor@themetrognome.in

Money sure matters to all of us, but are you one of those people that never seem to have enough of it? On the face of it, you’re being quite fiscally responsible – you don’t go out partying every night, nor do you shop every so often. Then how is it that you never have enough money for emergencies? More to the point, how is it that so many others do?

It’s possible that you’re making one (or more) of these five common money mistakes:

1 Spending everything. Is this a recurring pattern in your life – money comes, money gets spent? If you are spending every last Rupee that you make, you will have nothing left over at the end of the month. If you find yourself regularly borrowing small sums of money in the last week of every month, it means that either your income is insufficient for your needs, or that you are spending more than you should.

2 Being too cautious. On the other hand, you might be spending very little money, even on essentials. Go on, live a little. We’re not suggesting that you splurge your cash at every opportunity, but being too thrifty is not ideal either. It’s important to strike a balance between where money needs to be spent, and where an expense can be avoided.

3 Not saving every month. There’s only one way to have a large savings fund – by saving money every month. As tough as it seems, it’s not impossible to do. Every month, set aside your savings first and then allocate monies for bills, travel, groceries, children’s needs, etc. Most people meet their expenses first and then try to save money – which rarely works. Just a sum of Rs 3,000 to Rs 5,000 set aside every month can rack up a large savings fund over time.

4 Not creating a retirement fund. We’re all working and quite young right now, but the time to plan for retirement is when you’re still working and young. Many people put off planning for retirement till they are past their 50s, by which time they cut short their own planning time. Apart from creating a savings retirement fund, you can also invest in pension plans, or PPF (Public Provident Fund) or a suitable market-linked investment such as ULIPs or ELSS.

5 Getting into debt. It starts with small sums of money borrowed from friends or relatives, and then develops into a regular habit. Borrowing money is the worst money mistake – it leads to debt and a bad credit history (if you have institutional loans such as personal or credit card loans. Debt eats into your income and leaves you floundering when you have an emergency expense. If you have private and institutional loans, it is better to close them one by one to clear up your credit history. And remember, do not borrow loans to repay loans!

Did you find this article helpful? Do you have a money tip to share? Tell us in the comments section below.

(Picture courtesy https://smartmortgageadvice.files.wordpress.com/2007/08/walletistock.jpg)

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Become

“Mount Everest cannot be conquered…”

Says Zamling Tenzing Norgay, the legendary Tenzing Norgay’s son, who found his calling in business – and parallels with mountaineering.
by Subhasis Chatterjee

Tenzing Norgay is the world famous Nepalese Sherpa who was the first to climb Mount Everest along with Edmund Hillary of New Zealand in 1953. But his son, the famous mountaineer Zamling Tenzing Norgay is a highly sought-after personality in the business world. Taking a path away from mountaineering, he is a highly rated motivational speaker today.

Zamling was a famous mountaineer in his own right, and also managed to step out of his famous father’s shadow. He is part of a legacy of mountaineers who have successfully scaled Mount Everest – as many as 11 of his relatives have also achieved this feat! Today, he is a popular guide in demand for various expeditions groups and has led several novices as well as experts through the rugged Himalayas. He also has multiple philanthropic contributions to his name and has conducted various social service projects in the remote rural areas of the Himalayas.

Zamling’s philanthropic contributions include him being an active member of the Sherpa Trust, which was first founded by his late father, Tenzing Norgay and which works for the welfare and betterment of the local Sherpas residing in Darjeeling.

In a recent interview with The Metrognome, Zamling shed light on his view of the mountains and how he finds unique similarities between business and mountaineering. Excerpts from the interview:

Subhasis Chatterjee: You are a successful author, film star and an entrepreneur. Do you consider yourself a wealthy person?

Zamling Tenzing Norgay: Just because someone’s famous does not necessarily mean that he or she is rich. Take the example of my father. Although he was famous, he was not rich. The IMAX movie they made on his life did not make him rich. He was offered $25,000, but that was not important for him as he considered the movie to be merely the first step for the world to learn about the Sherpas. The film allowed more people to get a glimpse of this community and their people and livelihoods.

SC: Is there any similarity between conquering Mount Everest and successfully running a corporate firm?

ZTN: Just like climbing a mountain, starting and running a business is also a journey. Similar to mountaineering expeditions, businesses have targets and goals to be achieved and a team to help execute these goals. These are also the similar steps that mountaineers take when they climb Mount Everest or any other mountain in that case. It involves similar steps of planning, strategising and forming a suitable team for executing that plan. Climbing Mount Everest requires individual skills, in-depth knowledge and teamwork to successfully reach the summit of the tallest peak in the world.

I believe that the most important factor integral in whatever walk of life you are involved in is to be passionate about whatever you do. If you are passionate, you will enjoy it more and when getting involved in it, it doesn’t seem like a burden to you and you strive to make it better.

SC: The Sherpa view of mountain climbing is very different from the Western view…

ZTN: According to Sherpas, the mountains are the abode of the God, especially Everest. So prior to beginning the mountaineering expedition, we perform religious ceremonies and rites in order to seek God’s permission to allow us to climb and to ensure a safe journey ahead. Climbing mountains alone does not interest the Sherpas. They mostly climb because it is necessary for them to earn money through this profession. But Westerners possess a very different belief. They look at the majestic peaks of the Himalayas and say, ‘Wow, this is the highest mountain. Let’s go conquer it.” I am of the view that Mount Everest cannot be conquered but instead you climb it like climbing into your mother’s lap.

SC: You have a degree in Business Administration from an American University. Can anyone really learn things like teamwork, management and leadership by studying in a management school?

ZTN: My experiences from a business school education led to me to understand that a B-school simply teaches you the rules of the game. It is a guiding factor, but more than just a degree, experience is required which comes with the passage of time. You cannot become a CEO the moment you get out of business school. You need to work your way up, from being a manager, to a senior manager and then probably a CEO. This is exactly similar to climbing a mountain, one requires training. You become an expert after gathering experience for numerous years.

SC: Did your father ever encourage you to climb Everest?

ZTN: No, never. I even asked him once to pull some strings so that I could join an Indian expedition team for climbing Everest. But he refused. He climbed it because he had to, he himself did not have any education which was why he felt the need to give us a proper one. But surprisingly, after my first climb atop Mount Everest, my uncles revealed to me that my father had always told them that I would one day climb it too! Although he knew it within himself all along, he never encouraged me to climb.

SC: How should one tackle slow learners in a team of mountain climbers? Are there any lessons that can also be used in terms of businesses?

ZTN: During a mountain climb, everyone has to pull each other’s weight. Even though you might be a slow learner, you may have a good understanding of the terrain which can also be a significant contribution to the team. And on similar lines, even if you are the fastest learner, you might have no understanding of how to fix lines or logistics. For a successful climb to the mountain summit, a good team is required and not just one fast learner. This is also similar in case of business. You often have weak or slow learners in your team, but you need to support each other. One should always try and get a back-up for them, when climbing a mountain everybody is watching each other’s back and supporting each other.

SC: Did your father talk much about his 1953 climb with Edmund Hillary?

ZTN: Most of his stories happened on treks. My father would take clients from Western countries into the Everest Base Camp and then tell his stories during dinner time. Many people paid him extra to listen to his stories. I was very young at that time, may be around only 10. So I did not pay much heed to his stories. But now I wish I had paid more attention!

SC: What is your observation as a motivational expert interacting with people?

ZTN: Currently, there isn’t much sense of adventure amongst the people and they do not take time off for going out on an adventure. A few hundred kilometers away from Delhi there is a range of beautiful mountains. But children nowadays are handed with a TV remote or a play station for playing games on the couch. We need to change this way of thinking.

Categories
Trends

India’s digital commerce market to touch $128 bn in 2017?

ASSOCHAM’s research report pits the growth of the digital commerce space at a staggering $128 billion by the year 2017.
by The Editors | editor@themetrognome.in

The digital commerce market in India is likely to touch $128 billion in 2017 from the current level of $42 billion in 2015 due to increase in mobile and Internet penetration, m-commerce sales, different payment options, exciting discounts, according to the joint study brought out by ASSOCHAM and Deloitte.

With an increasing mobile and internet penetration, m-commerce sales, advanced shipping and payment options, exciting discounts, and the push into new international markets by e-businesses are the major drivers of this unprecedented growth.

The digital commerce market in India has grown steadily from $4.4 billion in 2010 to $13.6 billion in 2014, according to a study on ‘Future of e-Commerce: Uncovering Innovation’, jointly conducted by The Associated chamber of commerce and Industry of India (ASSOCHAM) and Deloitte.

The M&A deals (Softbank’s $627 million deal with Snapdeal, Flipkart acquired Myntra for $370 million, Ola Cabs acquired TaxiForSure for $200 million) and sky-rocket valuation of these e-commerce giants rising in last one year shows that the sector is heating up. The question would be whether these valuations are sustainable despite showing no signs of profitability. The global players like Amazon and Alibaba have deep pockets to rely on their parent companies for continuous funding support. The homegrown players would definitely need different metrics to preserve the investor confidence build in the sector.

Big retailers are increasingly focussing on their digital strategies in order to gain the obvious benefits of online platforms – wider reach, always on, personalisation, to name a few. E-commerce companies are concentrating their efforts on increasing the penetration of their mobile apps for higher growth. Big players in this space claim to have more than 50% of their revenue coming from mobile apps.

While releasing the paper, DS Rawat, Secretary General ASSOCHAM said, “The supply chain and logistics in e-commerce business are highly complex to manage in a vast country like India where infrastructure is not well-developed to reach every remote and rural area. The taxation policies for the e-businesses are not well-defined depending on different business models and transaction types. The complexity has further amplified with transactions happening across borders for online selling of goods and services. Moreover, e-businesses do not take sufficient steps to deploy a security solution, which is hindering the consumer from transacting online.”

Newer technologies that could significantly bring a paradigm shift in the online businesses are analytics, autonomous vehicles, social commerce, and 3D printing. Companies have started to invest in data analytics to gain real-time insights into customer buying behavior and thus offer personalized user experience. The e-commerce companies are building communities on social media networks to better understand customer needs and to drive effective marketing strategies, noted study.

The future of e-commerce is bright and growth will come from mobile platforms, personalisation, social media analytics, omni-channel service, and sharing economy business models. The e-commerce industry is in an exciting place with the interplay of social, mobility, analytics, cloud (SMAC), digital, 3D and, virtualisation. The current high valuations, in spite of losses, perhaps, are indicative of the future potential.

Increasing Internet and mobile penetration, growing acceptability of online payments and favourable demographics has provided the e-commerce sector in India the unique opportunity to fundamentally alter the way companies connect with their customers.

Online travel, one of the key drivers of India’s e-commerce market, accounts for nearly 71% of e-commerce business in India. Though the online retail market in India, currently at $1.6 billion, is a miniscule fraction of India’s overall $500 billion retail industry; retail e-commerce has recorded a three-fold growth since 2011, predominantly driven by million dollar investments by domestic and foreign investors.

On the other hand, mobile commerce (m-commerce) is growing rapidly as a stable and secure supplement to the e-commerce industry. Shopping online through smart phones is proving to be a game changer, and industry leaders believe that m-commerce could contribute up to 70% of their total revenues.

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Kharcha paani

Why India needs OPD insurance

Most Indians avoid doctor visits due to prohibitive costs of health care, thus leading to eventual hospitalisation. OPD insurance can help.
Sourced from the FICCI Feedback Report, ‘A Guiding Framework for OPD and Preventive Health Insurance in India- Supply and Demand Analysis’

The working population in India spends about 60% on the out-patient healthcare treatment annually from their pockets due to the skewed primary care system in India. Despite this, India has the lowest number of Primary Care visits by individuals, hence leading to hospitalisation cases. This is as per the FICCI-Feedback Consulting report titled ‘A Guiding Framework for OPD and Preventive Health Insurance in India; Supply and Demand Analysis’.

The objective of the report is to analyse the demand and supply needs for primary and preventive care insurance and suggest the business potential for the insurers and government stakeholders by introducing OPD insurance covers for primary care. At present, this has not been an area of focus for the insurance companies, leading to various issues that as discussed in the report.

As per the findings, about 16% of the urban population with a paying capacity and existing policy holders would be potential target group to purchase OPD covers if the primary care system is framed in a proportionate way with the right Government intervention.

Insurers suggest that the biggest barrier for offering OPD covers in India is the lack of data for pricing the covers and unorganised regulatory guidelines for primary healthcare. As per the report, early detection, regular health check-ups and preventive methods, could result in preventing a proportion of 44% of hospitalisation cases.

The IRDAI recently launched the report in a function in New Delhi. As per a release, “While the need to include primary and preventive elements in health insurance products is undisputable, it has not made much headway given the concerns relating to likely misuse and overuse. This paper has come at an opportune moment giving scope for discussions not only regarding the supply and demand side aspects of primary and preventive care but also the environment within which these aspects operate.”

The paper, produced by Feedback Consulting in partnership with FICCI’s task force on ‘Primary and Preventive Care’ provides the international big picture framework and a detailed local market opportunity with actionable solutions.

The report analyses the primary care practices of select countries like Brazil, China, Turkey, Thailand, Indonesia and South Africa to draw learnings from an India perspective. The report also highlights local case studies about healthcare start-ups such as Practo Technologies, Qikwell Technologies and Portea Medical for insurers to galvanise the potential of the primary care market.

Three major actionables can enable the OPD insurance market in India – Capitation-based products to allow risk sharing with aggregators and health administrators; electronic health records for frictionless platforms to administer OPD claims, and closed provider networks to align providers and insurer’s interests.

Read the entire report here.

(Picture courtesy www.kokilabenhospital.com. Image is used for representational purpose only)

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