While welcoming Prime Minister Narendra Modi's announcement on Saturday to celebrate January 16 as National Start-up Day, six years after the Start-up India Action Plan was launched by the government, stakeholders in the ecosystem say that more needs to be done at the policy level to unleash the next phase of growth in the sector. "The Start-up India programme's launch in 2016 was a turning point - that is when the promoter came to be known as the founder in the country and the word 'entrepreneur' entered the common lexicon. "But now we need a Start-up India 2.0 now for the next phase of growth of the ecosystem", said Siddarth Pai, managing partner of venture capital (VC) firm 3one4 Capital. Pai says that Startup India 2.0 must look at promoting Startups headquartered in tier II,III & IV cities and solving the problems of Bharat.
'Increasing spends will lower project deferrals and protect project budgets'
Employees of some top Indian companies were in for a pleasant surprise when they received a mail from their HR team announcing a hike in salaries and bonuses. Led by IT firms and start-ups, HR managers say that while some have offered cash and stock options, others are in a wait-and-watch mode and add the trend will pick up in other sectors. For example, IT giant Cognizant - which had an attrition rate of 19 per cent in the December quarter - has established a $30-million employee retention fund in order to bring down the high attrition rate.
India's unemployment rose to a three-month high in March to 7.8 per cent as the country's labour markets deteriorated, according to data from the Centre for Monitoring Indian Economy (CMIE). Unemployment rate in the country surged in December 2022 to 8.30 per cent but declined in January to 7.14 per cent. It edged up again in February to 7.45 per cent, the CMIE data released on Saturday showed. During March, the unemployment rate in urban areas was at 8.4 per cent while in the rural areas it was at 7.5 per cent.
The sample, however, is still small as it includes only six of the 30 Sensex companies - Infosys, Reliance Industries, HDFC Bank, TCS, ITC and Bajaj Auto - that have declared results so far.
The benefit coming in from the Rs 1.45 lakh crore tax giveaways will also help companies to cut prices by up to 5 per cent to boost consumer demand, which has been sagging and is one of the prime reasons for the deepening slowdown.
Order inflows during the quarter-ended September declined 31.5 per cent compared to the level a year ago. Companies are still not committing fresh capital expansion.
The average attrition rate grew at 21 per cent in Indian firms during July-September quarter, a rise of 4 percentage points from the preceding quarter (April-June).
Walmart-owned digital payments app Phonepe on Thursday said it has raised $350 million at a valuation of $12 billion in a funding round led by private equity firm General Atlantic. "Marquee Global and Indian investors are also participating in the round," PhonePe said in a statement adding the investment marks the first tranche of an up to $1 billion total fundraise that commenced in January 2023. The fundraise follows PhonePe's recently announced change of domicile to India and full separation from Flipkart.
India Inc's bear hug with Russian consumers is getting warmer. From selling marquee cars to liquor, the relationship is heading into the next league -- joint ventures in diverse areas such as petrochemicals, telecom, pharmaceuticals and nanotechnology.
India Inc has learnt to take risks and compete with global players to create wealth, industry experts said on Monday.
Leading political rallies or taking charge in boardrooms, the next-gen woman is taking it all in her stride.
Indian-American business leader Ajay Banga is poised to become the next President of the World Bank after the nomination period closed and no country proposed an alternate candidate for the prestigious post. In February, President Joe Biden announced that the US would be nominating Banga to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history." The World Bank on Wednesday closed a month-long window for nominations for its next president, with no alternatives announced to 63-year-old Banga.
The new mantra was to align Apple's ambition with the government's, focusing on Modi's favourite themes of Make in India, employment generation and India as a high-tech export hub.
In a move that would make it the country's largest career website, Monster Inc on Tuesday announced the acquisition of Indian jobs portal jobsahead.com for about Rs 40 crore (Rs 400 million).
India Inc has couter attacked claims by US presidential candidates about the drain of jobs from US to India.
Foxconn means serious business in India. Its delegation to India was led by its Chairman Young Liu who met Prime Minister Narendra Modi.
Net profit of FMCG, IT and pharma firms was up 33 per cent in the third quarter, accounting for nearly half of India Inc's profits ex-financials and oil.
RBI has cut the rates thrice so far in 2015 by 25 bps each.
Weighed down by a sharp rise in input costs and limited ability to pass on the burden to customers, India Inc's operating margins took a hard knock in the first quarter of 2008-09 even though demand was buoyant as reflected in zooming sales.
The database of 194 companies has shown a revenue contraction of 2.6%.
Japan World Cup match a big draw for viewers in Japan, less so in Germany
According to a report by global research firm Dun & Bradstreet, the composite Business Optimism Index for the second quarter of 2008 has decreased to 153.7 from 168.9 in the previous quarter. This is a 9% fall. BOI measures the pulse of the business community and serves as a reliable benchmark for investors and is arrived at on the basis of a quarterly survey of business expectations. The optimism index for profits represents a decrease of as much as 21 percentage points.
The earlier government was blamed for non-performance, the current one will be rightfully blamed for mismanagement
In a pre-Budget meeting with Finance Minister Nirmala Sitharaman, the corporate leaders highlighted several issues, including certain income tax matters which were coming in the way of mergers and acquisitions or slowing them down and roles that need to be played by state businesses to prosper at the ground level.
The market cap of the listed firms on the Bombay Stock Exchange and the National Stock Exchange on Monday declined by a whopping Rs 125,000 crore (Rs 1,250 billion) to Rs 43,75,020 crore (Rs 43,750 billion), thereby falling below the GDP of Rs 46,93,000 crore (Rs 46,930 billion) at current market price, as per the real economy data released by the Reserve Bank of India on April 28 this year.
The market cap of the listed firms on the Bombay Stock Exchange and the National Stock Exchange on Monday declined by a whopping Rs 125,000 crore (Rs 1250 billion) to Rs 43,75,020 crore (Rs 43750.20 billion), thereby falling below the GDP of Rs 46,93,000 crore (Rs 46930 billion) at current market price, as per the real economy data released by the Reserve Bank of India on April 28 this year.
That's because India does not have a serious venture capital industry with an appetite for risk, observes T N Ninan.
The global economic downturn made 2008 an unforgettable year.
The net profit of 82 firms up 20.2%, but topline growth slows to 14.7% on muted show by manufacturing firms.
A survey of CEOs shows corporate India is unsure about the party's ideology, with some feeling its left-of-the-centre politics can be detrimental in the long run.
Expressing dissatisfaction over the RBI decision to keep interest rates unchanged, India Inc today said rate cuts were needed to make the industry invest more and drive economic growth.
Sharma had applied for the licence which has been granted after assessing threats and following due procedure, they said.
Stocks such as NIIT, Punj Lloyd, Gati, Welspun India and BEML are favourites of the trading community.
Mark-to-market losses, oil & gas companies drag profits; sales growth moderates
In a post on Truth Social, Trump responded by saying: "FACEBOOK, which has lost Billions of Dollars in value since "deplatforming" your favorite President, me, has just announced that they are reinstating my account. Such a thing should never again happen to a sitting President, or anybody else who is not deserving of retribution."
Budget would have cascading impact on inflation and consumer demand.
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