Consequently, the thousands of first- and second-level students (comparable to first year and second year) will now have to go abroad to pursue the CFA course if they still wish to do so. This would mean an additional expense of thousands of dollars besides heartburn and anxiety.
After Harvard Business School and Tuck School of Business, India's developing corporate scenario has now attracted France-based ESCP-EAP European School of Management to hold executive education programmes for corporates in India.
Anil Kumble would be raking in around Rs 60-75 lakh a year for endorsing Manipal Education. Viswanathan Anand would be getting anywhere between Rs 75 lakh to Rs 1 crore. Universities are choosing sports icons as brand endorsers as they not only want to portray themselves as excellent in academics, but extra-curricular performances too.
Players such as Net4, Sify and Worldphone Internet Services are offering International long distance (ILD) calls that work out to less than a rupee a minute by using a technology called Voice over Internet Protocol (VoIP). Around 80 million minutes worth of calls are made via VoIP every month (legally), according to Telecom Regulatory Authority of India (TRAI).
Industry bigwigs and corporate heavyweights have been scurrying to get the best students for themselves. Naturally, salaries are headed north.
The effects of the sub-prime crisis and the resultant slowdown of the US market is evident on the margins of Indian information technology (IT) and IT-enabled Services (ITeS) firms. Business process outsourcing (BPO) firms such as Firstsource, Pune-based HOV Services, Zenta, Aegis BPO and others have been receiving inquiries from existing as well as new customers for ramping up their account receivables management (ARM) business.
Consider this. India's best paying B-school -- Indian School of Business, Hyderabad -- made offers to five international faculty members in the past three years. All of them chose to join management institutes in Singapore because of the fat pay packets. ISB pays its professors salaries that are five times more than an Indian Institute of Management professor. This means if an IIM professor's monthly salary is Rs 54,000, his counterpart at ISB would draw Rs 2,70,000 a month.
Players in the Indian animation industry, who primarily cater to movie studios in the US, are increasingly looking at the domestic market, especially after the commercial success of animated movie Hanuman. Of the total revenues generated by the Indian studios, approximately 70 per cent comes from outsourced work.
Leading five-star hotels in the country are taking their signature restaurants to cities across the country, thanks to their success and popularity. Taj Hotels and Palaces in Mumbai will open its signature Japanese restaurant, Wasabi by Morimoto, in Delhi by early next year.
While IIM-B is yet to decide on the exact quantum, the increase could be anywhere between Rs 20,000 and Rs 50,000. The institute will be revising its fee after three years. Through the revision, the institute plans to increase its earnings from the placement fee.
With the rupee going from strength to strength and attrition a continuing concern for Indian business process outsourcing companies, the new poster child of private equity investors is witnessing adjustments in valuations in the changed scenario.
Hyderabad-based Applabs, providing quality management, testing, and certification solutions, will be increasing its business from the domestic market. In the next 12 months, the company is aiming at a revenue of $4-5 million (around Rs 15-19 crore) from India.
The concerns were legitimate as unlike the IT industry, more than 90 per cent of the cost of BPOs is in rupees while earnings are in dollars. However, the firms have managed well by focusing on increasing productivity, enhancing employee utilisation, increasing billing rates and effecting better management strategies.
More than six hotel chains are looking at either building properties or expanding their presence in these states. ITC's WelcomHeritage brand, for instance, is scouting for properties in Nagaland and Kaziranga, Assam. The hotel, however, is already there in Arunachal Pradesh, Assam and Meghalaya.
Neeraj Bhargava, CEO of Mumbai-based business process outsourcing (BPO firm) WNS Global Services, and his team have voluntarily decided to forfeit their bonuses if they are not successful in getting the attrition rates below 30 per cent. This is probably the first such move of its kind in the industry in which attrition has become a critical issue. WNS has over 15,000 employees, and its current attrition rate stands at 43 per cent.
The Planning Commission, according to highly-placed sources, says GDP allocation to education will increase from its from current 3.5 per cent to 5 per cent by the end of the 11th Plan. Around 19.7 per cent of the total plan resources would be set aside for education, according to the sources in the Commission.
This Diwali, Rakesh Mehta, a senior sales and marketing employee with an IT firm, will celebrate in Australia with his family. Mehta, is one of the top performers of his company and has been rewarded with this 'Diwali Gift'. Other top performers from his company will celebrate their Diwali in New Zealand and Mauritius. In fact, a lot of IT, BPO, pharma companies and banks are rewarding their employees for good performance by sending them to exotic locations.
Another Indian School of Business (ISB) is taking shape. Rajat Gupta, the former CEO of McKinsey & Company and now a senior partner in the professional services firm, along with his team is planning to set up a second ISB, this time in the North. The existing ISB in Hyderabad was Gupta's brainchild and is among India's most coveted business schools. It is spread over 260 acres of land and was set up in December 1999 at a cost of around Rs 100 crore (Rs 1 billion).
While this is a global phenomenon, it is for the first time that the Indian Music Industry (IMI) is making an effort to stop this before it erodes the revenue stream of music companies like it is already happening in the software, gaming and the movie segments.
Sony Computer Entertainment, an arm of Sony Pictures, is planning to increase its console-based business in India.The company - responsible for the distribution, marketing and sales of PlayStation - opened its India office four months back and is now getting its strategy in place to offer variety and a better experience to gamers.
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