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Ratan Tata invests undisclosed amount in Singapore’s startup ‘Crayon’

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Picture Courtesy:-www.bloncampus.com

Bengaluru: Tata Sons chairman emeritus Ratan Tata has invested an unspecified amount in Crayon Data, a Singapore-based startup.

“Given Tata’s experience and knowledge of our key focus verticals, we are excited by his validation of our vision. We hope to tap into his experience as we scale globally and fulfill our ambitions of mapping the world’s choices,” Crayon co-founder Srikant Sastri said in a statement from Singapore on Tuesday.

As an alumni of the state-run Indian Institute of Management-Kolkata (IIM-K), Sastri and Suresh Shankar co-founded Crayon in 2012 and subsequently raised 10 million Singapore dollars (Rs.47 crore) from institutional investors Jungle Ventures and Spring Seeds in first round (series A) funding.

Tata recently joined Jungle as a special advisor.

“We have always believed in Crayon’s proposition. Srikant and Suresh, with their years of experience in marketing and analytics, have a clear vision of the value Crayon can bring to consumer-facing enterprises,” Anurag Srivastava of Jungle said in a statement.

Crayon’s flagship product ‘Maya’ is a personalization engine that empowers enterprises to deliver ultra-personalized choices to their consumers.

We are developing a global consumer taste fabric, which maps choice across 15 categories, using complex machine-learning techniques and proprietary cognitive thinking algorithms,

Maya also facilitates choice delivery for banking, hotel, and digital media verticals.

The startup plans to use the funds for product enhancements (new versions) of Maya and its geographical expansion in key markets like the Asia-Pacific countries, Britain, Europe and the US.

(Inputs from IANS)

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Why Tata Group replaced Chairman Cyrus Mistry with his predecessor Ratan Tata?

Cyrus Mistry is the second chairman who was appointed from outside the family circle

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Ratan Tata, Flickr

October 26, 2016: One of the most respected business brands of India, Tata Sons, the holding company of the Tata Group, unexpectedly took a sudden move on Monday by replacing Chairman Cyrus Mistry with Ratan Tata, his predecessor. Cyrus Mistry is the second chairman who was appointed from outside the family circle. He was chosen as a successor to Ratan Tata and was appointed in 2012 with high hopes to steer the company. His removal in less than four years came as a shock to the business world.

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Adding to that, there is no proper clarity as to why the decision was taken. So, the first question on everyone’s mind was, WHY?
Here are some of the theories according to the analysis of country’s major dailies:

Performance Issues

The Economic Times mentions about Ratan Tata being allegedly unhappy with Mistry’s “approach of shedding non-profit businesses, including the conglomerate’s steel business in Europe, and concentrating only on cash cows.”

It also mentions about the “fundamental disconnect between Mistry and Tata, particularly with regard to ethos, values, vision and the direction that the group was headed in. Detailed letters were sent to Mistry asking him to spell out his vision, five-year plan, etc, but the responses were vague and non-specific.”

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Contrasting Styles in Investment

Mint also writes about “contrasting styles in investment” stating the sharp contrast in the approach of Mistry and Tata. It notes, “The approach of Mistry, 48, was in sharp contrast with that of his predecessor Ratan Tata, 78, under whom the group was one of India’s most aggressive acquirers, especially of overseas assets.”
It also added, “Tata group shares may pay a price for the abrupt, opaque decision.”

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Conflict

The Business Standard speaks of the conflict that was building up and the people known were quite aware of it. It also cites the instances where Ratan Tata felt he was not informed properly about the business decisions taken by Mistry.

That being said, if Mistry takes a legal action against his sacking that could hamper Tata as he is the son of the sole largest individual shareholder in Tata Sons.

– by Pinaz Kazi of NewsGram. Twitter: @PinazKazi

 

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Mayan, Sumerian, and Mexican: The Untold Link and Similarities to Ancient India

Elephant bar on the temples of Yucatan city holds a strong resemblance to the Hindu text of Ramayana, the elephant, and deeds of King Rama of Ayodhya

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Wikimedia Commons
Wikimedia Commons

Ancient India, one of the world’s earliest urban civilisation has crossed several centuries. It had a long-lived civilisation. Many shreds of evidence have been found that culture of Ancient India has similarities with Sumerian, Mexican, and Mayan culture.

Similarities: Indian Sumerian-

Evidence has been found that there was a social interaction between the Indus valley and Sumeria. Indian teak was found in the ruins of Ur(Mugheir), which was the capital of the Sumerian kings in the IV millennium B.B. and the other is that the word Sindhu or muslin is mentioned in an ancient Babylonian list of clothing.

The occurrence of ‘s’ in the word proves that this muslin did not go to Mesopotamia via Persia, for then ‘s’ would have become ‘h’ in Persian months, as the name of this country, derived from the river Sind. Therefore, muslin went directly by sea from the Tamil Coast to the Persian Coast and the Babylonian word Sindhu is not derived from the name of the river but from the old Dravidian word, ‘sindi’, which is still found in Tulu and Canarese, and means ‘a piece of cloth’ and represented by the Tamil word ”sindu”, a flag.

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Excavated ruins of Mohenjo-daro
Excavated ruins of Mohenjo-Daro, Wikimedia Commons

Harappa was known as Meluha to the Akkadians. Like the evolution of state-building in Mesopotamia, its focus was land- based, but it also engaged in significant sea-going trade with Gulf. The Sargon I text refers to Meluhha boats as being large cargo vessels.

Similarities: Ancient India and Mexico-

Mexican art and architecture display a combination of cultural and social themes, such as the ancient Indian civilisations. Mexican indigenous art before the invasion of Spanish people achieved a remarkable level of development and sophistication. Created by Indian with virtually no outside influence.

Most Mexican indigenous art before the arrival of the Spanish was inspired by religion. The gods of the indigenous Indians dominated every facet of Indian life, and many Indian works of art were created as offerings to the gods. The Olmecs, who developed the first civilised culture in Mexico between 1300 and 400 B.C., were also the country’s finest artists. They made jewellery and ceramics but are best known for their stone carvings. Huge shapes of human heads, discovered mostly in the state of Veracruz, are the earliest portraits that remain of these ancient people. These heads are believed to have the honour of the Olmec rulers.

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Teotihuacan, Wikimedia Commons

The Olmecs pyramids began as a mound of earth covered with rough stones. The pyramids served several functions. They were temples where priests could pray and perform rituals for the gods . They were also symbolic mountains meant to bring people closer to Heaven.
Teotihuacan, located to the northeast of Mexico City, is another fine example of an ancient Indian city, with extraordinary pyramids, temples, and roads made for the kings, mentioned a book by Gene D. Matlock

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Similarities: Mayan dynasty and Ancient India-

Chichen Itza 3.jpg
Chichen Itza, Wikimedia Commons

Elephants are featured in Mayan sculptures, although the mammoth supposedly was extinct during the time of the Mayan civilisation. One of the oldest artistic works found dates back to 30,000 B.C., done on an elephant bone. In March 1952, Mexican pre-historians Maldonado Koerdell and Lis Aveleyra found at Ixtapan a complete skeleton of an elephant with the stone artefacts, including two spearheads between the ribs of an elephant and nearby, the remnants of ‘Tepexpan Man’. the radiocarbon date was determined to be at about 10,000 B.C. , Indian myths and legends tell about an animal similar to the mammoth.

In Indian life, we find tales about monsters and heroes that effectively describe an animal very similar to the mammoth. Elephants are very common in India and played an important role as the elephant gods, Ganesha, in the Hindu religion. Artefacts featuring elephants in a seated position posed as tough praying have been uncovered as stone pipes in mounds in North America, elephant bar on temples in the Yucatan, Mexico and in Copan, Honduras. This elephant bar holds a strong resemblance to the Hindu text of Ramayana, the elephant, and deeds of King Rama of Ayodhya are featured in the creation myth. Architectural stone carvings in Hindu temples of India and the extensive Mayan temple ruins of Chichen Itza in the northeastern Yucatan state of Mexico have similar stone carvings.

– prepared by Akanksha Sharma of NewsGram. Twitter: Akanksha4117

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Canada’s new PM urged to fast-track free trade agreement with India

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Toronto: Welcoming the incoming Canadian Prime Minister Justin Trudeau whose Liberal Party was swept to power yesterday, major Indo-Canadian organizations have urged him to fast-track the long-pending free trade agreement with India.

Ajit Someshawar, chairman of the Canada-India Foundation (CIF), urged Trudeau to make a state visit to India as one of his foreign policy priorities and conclude the long-pending Comprehensive Economic Partnership Agreement (CEPA) and the Foreign Investment Protection Agreement (FIPA) between the Canada and India.

Canada and India have agreed to triple their trade to $15 billion, but the progress has been tardy even as the visit by Modi – the first by any Indian PM in 42 years – here in April and two trips to India by his Canadian counterpart have reinforced this pledge.

“The growth in bilateral trade between the two countries has still not reached its full potential and even the modest goal of $15 billion annually is still far away,” said the chairman of the Canada-India Foundation which has honoured many great Indians such as former President APJ Abdul Kalam, Ratan Tata, Narayana Murthy and Deepak Chopra with its annual CIF Chanchlani Global Indian Award of $50,000 since its inception in 2008.

Someshawar also urged the Canada’s new PM to reinforce the Canada-India Inter-parliamentary Friendship Group to bring parliamentarians of the two countries together.He also welcomed the new Family Class Reunification plan announced by the incoming government as it will help the 1.2-million-strong Indo-Canadian community to bring their dependents into Canada quickly.

Canada-India Business Council (C-IBC) vice-chairman Kam Rathee also urged the new Canadian Prime Minister to conclude the long-pending free trade agreement with India on a priority basis.

“The new prime minister should also set in motion a process to develop trade investment and services so that non-profit associations and organizations that promote Canada-India business get financial support,” added Rathee.

Ramesh Chotai, whose Bromed Pharmaceuticals is the biggest Canadian importer of pharmaceutical raw material from India, echoed similar views.

He also said, “Mr. Trudeau’s elevation to become the next Prime Minister of Canada brought back sweet memories for me. I came to Canada as refugee from Idi Amin’s Uganda, thanks to the policy decisions made by Mr. Trudeau’s father and former Prime Minister, Pierre Elliott Trudeau. I am eternally grateful to the senior Mr. Trudeau, whose forward thinking immigration and refugee policies have made Canada the great country it is, now reflected in the diversity of the newly elected House of Commons (which now has 19 Indo-Canadians).”

(Gurmukh Singh, IANS)