Mi’bytes is a monthly news letter of the MIB family of Jamia MIllia Islamia, Central University. It is the intellectual output consists of business articles, interviews of the corporate personalities, experiences in the corporate field, quotes and many more. It gives rich dividends of knowledge and information. This newsletter carries an eclectic mix of business related topics and exposure of the corporate world. It is the step from the students of MIB that have transverse another inch in their triumph. Mi’bytes gives an enriching experience and helps the students in overall learning and contributing articles for it.

1. Volume 3 , Issue 1
January 2014
IN THIS ISSUE:
CORPORATE SOCIAL RESPONSIBILTY ...……….……….1
BITCOIN: LATEST GLOBAL CURRENCY………….………1
CORPORATE SPEAK ……………………….……...1
COMPANIES’ OVERVIEW…………………….…….. 3
QUOTE FOR THE MONTH…………………. ……….4
Masters of International Business , Centre for Management Studies ,
JAMIA MILLIA ISLAMIA
Corporate Social Responsibility
Business persons have always been concerned with their own
profits, but huge pressure from society has forced them to sit and
think about their means of profits as well. The need of the day is
genuine business responsibility and societal trust in business.
In earlier days the organizations were having a common thinking
that “the business of business must be only business, the rest was
none of their business”. Many of US based Business Corporation
has made huge profits for their owners in 20 th century and some
have created trust in their name through philanthropy. . But the
damage that these companies had done to the environment and
community in course of
Cont….on page 2
Bitcoin: Latest Global Currency
CORPORATE SPEAK
An introduction
Bitcoin is a digital currency created by Satoshi Nakamoto. Bitcoin was conceived in Japan in 2008
but it became operational in 2009, similar to wallet
on some e- commerce website which can be used to
purchase goods online. It is a crypto currency because it uses cryptography to control the creation
and transfer of money.
Advantages
Low transaction fee (almost zero) versus transaction fees (2-4%) charged by credit card companies
and anonymity led to rising
Cont...on Page 4
Executive Director
Amira Foods (Delhi)
Mr. Manish Tandon
Ques 1: What all are the challenges/opportunities that volatility in rupee has
presented to you?
Ans: That’s a very interesting question, see as far as Indian exports are concerned it is definitely an opportunity because the realisation of dollars is
higher. I would say opportunities are immense when it comes to dollar crossing over a certain limit, we become more competitive. The moment dollar
crosses threshold, opportunities are there for the exporters and people have
tapped it.
Cont….on Page 2

2. Page 2
Corporate Social Responsibility
Cont…..from Page 1
making profit led to creation of many laws to constraint
their conduct.
Douglas C North received the Nobel Prize in economics in
1993 for his work on the development of institutions and
their role in human progress. He defined institutions as the
“humanly derived constraints that structure political, economic and social interactions. Constraints, he said, are derived as formal rules including constitution, laws, property
rights and informal restraints include sanctions, taboos,
traditions and codes of conduct. There is definitely some
force driving political and economic institutions in 21 st
century. This storm has been caused by recent collision of
many forces which are strengthening with time. They are
open market system democracy and principle to human
rights, the growing awareness towards the usage of earth to
expand economies and availability of information to people
everywhere through advancing means of communications.
The new Indian Company Law that received the President’s assent includes novel provision which made it compulsory that companies should spend 2% of their profit on
corporate social responsibility. However there is a buzz
about matters of details, such as what will include genuine
CSR expenditure and how and who will certify it. Whereas
we must examine the effect this expenditure of 2% of profits will have on the direction we want the business to take,
the improvement of genuine business responsibility and
societal trust in business.
But it is an implementation nightmare with no proper enforcement
mechanism. Only minimum requirement are prescribed and the actual implementation of the policy is left to the company itself. The
bill does not seek to implement or enforce the CSR policies of individual companies to monitor and regulate the activities under it.
CSR policies and reports are usually designed to inform investors,
shareholders and other stakeholders about the social and environmental performance and philosophy of a company rather than to
satisfy government scrutiny.
The fear is that so called CSR may enjoy greater legitimacy and
state support with this bill. CSR as imagined in the bill is ineffective
without corporate accountability. There are as many CSR policies as
many companies i.e. if a company is spending on educational institutions to safeguard the interest of beneficiaries of such projects, the
content and quality of curriculum, assessment and improvement
have to be insured. It is well known that it is not in the DNA of the
companies to altruistic. If companies engage in CSR activities it is
usually in pursuit of short term or long term benefits. Growing corporate interventions over economic and political affairs has led to
some critical social issues of today and it may be prudent to avoid
such influence in social policies even under the garb of CSR.
By-Tabish Md Jan
1st Year MIB,JMI
Cont….from page 1
As far as challenges are concerned, this volatility is not good. You can make temporary profits but if you are talking in general looking at the top, in the long term it’s not conducive for trade. This situation definitely impacts Indian economy and it is not good for the
country. If you specifically talk about exports it might give a monetary gain but overall i think if the currency is stable exporter are
more focused and certain in their working, allowing them to make long term and medium term decisions.
Ques 2: In today’s competitive market, how do you maintain your share of global trade, as Pakistan and Vietnam are providing the
same commodity at a competitive price?
Ans: India has a soil structure which gives you better length on your basmati plus the disadvantage with Pakistan is the technology.
Their technology know-how is not so strong, when I am saying this I am specifically referring to parboiled (Partially boiled in the
husk) rice if you compare their parboiling structure. Normally in the European market or in United States or United Kingdom i.e. in
the developed world where basmati is most consumed, Pakistani basmati is not very well accepted as aflatoxin levels are normally
higher because most of their plants don’t have proper driers. Indian basmati is preferred worldwide. If you go to the international
market and you talk about Indian basmati it will be preferred because of its quality.

3. Page 3
Cont…..from Page 1
Ques 3: Which are Amira’s potential markets for Indian Rice, apart from MENA (Middle East
North Africa) region (where Indian rice is widely accepted)?
Ans: MENA region, if you focus more on Middle East it’s the chunk which goes. Iran is the highest and biggest importers of rice they touched 1 million tonnes of import only from India. Saudi
Arabia is the second close to about 640-650 thousand tonne of imports and UAE is third. Except
this, basmati is consumed mainly in the United States and United Kingdom market, which is basically the developed world. So these are the other potential markets. United States and United
Kingdom are premium end basmati consumers and a lot of volume is flowing from India.
Ques 4: How do you position your packed rice in the domestic and international market against
your competitors?
Ans: When you say Amira, you talk about quality. Our positioning is on the top end, it’s a luxury
premium brand. Even at small retail stores you will find our rice offers you the best quality best
price and it is top notch product. Now trend is changing people have more spending power, they
are willing to spend more on their food and Amira is giving them value for money. Once you taste
a product which is superior automatically sales would come in. We are focusing on marketing
part-domestic as well as international. Quality will sell; people will come back and buy.
Ques5: Do you think that the government policies are conducive and supportive for the rice industry or there is a need for reforms?
Ans: The only point i can say here is that Indian government has to be more stable. So far the
government policy has supported and promoted the export of basmati.
Ques 6: What will be the impact of FSB (food security bill) on the domestic and international
trade of rice?
Ans: FSB is not going to impact normal trade or the exports of basmati rice, not at all. I think it
won’t have any impact on Amira selling the rice or any other company selling the rice in the domestic or international market.
Ques 7: what are the basic qualities a person should have to excel in international trade?
Ans: ( laughs)..... the most important thing is to be focused. International trade is very technical
in the sense that it requires a lot of knowledge on documentation, logistics, government schemes
and benefits which you get out of exports. so off course you have to be well prepared and learn
these things. The most important thing is to be focused in life in whatever you do be it international trade or any other trade.
Ques 8: What will be your message/advice to international business students at Jamia Millia Islamia?
Ans: What I can say is that whatever you do don’t lose your concentration. You need to know
where your strength lies and you need to work on your strength. Identify your strengths work on
them try and improve. Rather than master of all you become jack of none. If you want to excel
you need to be thoroughly knowledgeable about lines which you are choosing do that and Insha’Allah I am sure you will reach wherever you want to be.
About Amira Foods
AMIRA group was founded in
1915, Amira has evolved into a
leading global provider of packaged Indian specialty rice, with
sales in over 40 countries today.
Amira Foods generate the majority of the revenue through the
sale of Basmati rice, a premium
long-grain basmati rice grown
only in certain regions of the
Indian sub-continent, under
Amira flagship Amira brand as
well as under other third party
brands.
Amira Foods fourth generation
leadership has leveraged nearly a
century of experience to take the
Amira brand global in recent
years. Amira Foods recently
launched new lines of Amira
branded products, such as readyto-eat snacks, to complement
Amira Foods packaged rice offerings, and we also sell bulk
commodities to large international and regional trading firms.
———————

4. Page 4
Masters of International Business,
Centre for Management Studies,
Jamia Millia Islamia
E-mail: Suban.ajam@gmail.com,
habib.siddiqui100@gmail.com,
9650430820,8285817199
Quote For The Month
“The brave may not live forever, but the cautious
do not live at all!"
Richard Branson
Founder Virgin Group
Bitcoin: Latest Global Currency
Cont…..from Page 1
EDITOR-IN-CHIEF:
MS.SUNAYANA KUMAR
Assistant Professor.
CMS, JMI
STUDENT EDITORS:
Michael Akbar
Habib Ullah Siddiqui
Suban Khalique Ajam
INTERVIEWED BY:
Suban Khalique Ajam
Uddipan Sharma
CONCEPT AND DESIGN:
Samik Sarkar
WEBSITE DESIGNER:
Mohd Ibrahim Badar
China. BTC China capitalised
this opportunity and met the
demand thereby becoming the
world’s largest bitcoin exchange.
BTC China handled around 1/3
of world’s bitcoin transactions.
The country has recently forbid
banks and payment processors
from converting bitcoin into
Yuan.
popularity of bitcoin. Bitcoin is
not affected by high and low of
inflation. With bitcoin, money
can be received or sent anywhere and anytime without a
bank acting as an intermediary.
Bitcoin can be exchanged and
managed through various websites (Like www.bitcoin.org or
www.thevillage.me) and software along with physical bank- RISK ASSOCIATED WITH
BITCOIN
notes and coins.
The anonymity associated with
Number of websites accepting bitcoin with respect to transacbitcoin as a payment is increas- tions has made it a useful tool
ing gradually. It is neither is- for transfer of fund by criminal
sued by a bank nor by any gov- or purchase of illegal item. It is
ernment, also are they not even the world’s most volatile currecognized by any regulatory rency. There is no regulator for
agency or any government the currency which is a major
body. Newly minted bitcoin are concern for the governments
given to bid coin miner who worldwide which makes it diffiperform complex calculation to cult to track thieves and those
verify bit coin transaction to dealing in black money.
Most common vulnerability
prevent misuse of currency.
Bitcoin has been a subject of associated with the bitcoin is
security due to ties with illicit that bitcoin wallet can be acciactivity. Bitcoin is free from the dentally deleted, lost or stolen.
problem of double spending as
it verifies each transaction INDIAN ANGLE
added to the block chain. Total According to the Wall Street
number of bitcoin in the world Journal, India is among the top
is limited to 21 million, around 30 bitcoin using countries.
12 million bitcoin are in circu- There are 30000 Bitcoins in
lation now. Trading bitcoin for circulation in India and 50 compaper currency take place in mercial establishments have
bitcoin exchange such as Japan been using it. These establishbased MT GOX or till recently ments include restaurants, salons, etc. A report in tech
B.T.C China.
crunch an American technology
BITCOINS AND CHINA
After the introduction of bitcoin website says a salon in Chandiin 2009, the value of one bit- garh became 1st shop in India
coin surpassed $1100 in 2013, to officially accept bitcoin.
thanks in large part to a surge Some entrepreneurs in Benin speculative interest from galuru have teamed up to form
the Bitcoins Alliance of India
(BAI), so as to decide how
they want to lobby for the
acceptance and use of Bitcoin in the country. Further, KOENIG an IT SOLUTION PROVIDER has
launched a training course
in bitcoin, it has designed
a 4 day programme, the
course will be offered from
all Koenig centres in India.
A very important step is to
set up a bitcoin exchange
in India, but this setting up
of exchange in India is
possible only with approval of regulatory bodies
like SEBI and RBI.In December 2013, RBI asked
some of the bitcoin traders
to suspend their operations.
The RBI is worried about
security, legal and financial
risks. These risks include
losses due to volatility,
money laundering, etc.
By—Michael Akbar
2nd Year MIB,JMI
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