India plans to phase in cash transfers of food and kerosene subsidies from September, saving 10-15 per cent of the $21 billion in annual outlays on the benefits by eliminating fraud, a senior finance ministry official said on Thursday.
'The skilling gap is a serious issue.' 'We partner with the government on skilling, but as a company we have several skilling programmes, and we work closely with the partner ecosystem.
It has taken a pandemic to move the needle on the salary packages for greenhorn engineers hired by the Indian IT services sector. The country's third-largest IT services player, HCL Technologies, has decided to boost the entry-level packages from Rs 3-3.6 lakh to Rs 4.25 lakh for FY23, in a bid to attract fresh talent and keep them for longer to counter the impact of rising attrition. This new package would also be applicable to those freshers who joined the firm in FY22.
Shivani Shinde reports. The youngest member of the Tata group, the much-awaited Tata Neu, has finally been launched for people across the country. The 'super app' offers a number of services ranging from financial services to tech, travel and even groceries. The app takes off with a customer base of 120 million, with 2,500 offline stores. According to the Tata group, the app will be a one-stop destination for all consumer needs. The super app also offers a bouquet of financial offers like Unified Payments Interface (UPI), bill payments, loans and insurance. Tata Neu will also provide other services like fashion, gadgets, groceries, travel and health.
Luxury carmaker Mercedes-Benz India on Thursday said it will increase prices of its vehicles ranging between Rs 2 lakh to Rs 12 lakh across different models from April 1, to offset rising input costs specially the adverse impact of foreign exchange. This will be the second time in three months that the company is increasing prices of its vehicles. The ex-showroom price of the company's model range will increase by up to 5 per cent from April 1, 2023, the company said.
The Competition Commission of India on Tuesday approved with certain conditions the mega-merger deal between media groups Sony and Zee. In a tweet, the watchdog said it has cleared the deal with certain modifications. The proposed merger was announced in September last year. CCI said it has approved the "amalgamation of Zee Entertainment Enterprises Limited (ZEE) and Bangla Entertainment Private Limited (BEPL) with Culver Max Entertainment Private Limited (CME), with certain modifications".
About 51 per cent of the participants also said that their mothers inspired them the most to pursue technology careers.
Fresher hiring sentiment is highest in India, with 17 per cent employers keen on recruiting fresh graduates in the July to December 2021 period against 6 per cent globally. According to the Career Outlook Report by TeamLease EdTech, conducted across 18 sectors and 14 cities, the hiring sentiment in the country has registered a 2 percentage point increase over the February-April 2021 period. In terms of sectors, those that have been able to withstand the impact of the pandemic and witnessed a stronger hiring sentiment are information technology (31 per cent), telecommunication (25 per cent) and technology start-ups (25 per cent).
Tech giant Apple on Wednesday said it has slashed its App Store commission by half to 15 per cent for small businesses earning up to $1 million (about Rs 7.4 crore) per year on the platform. In the past, tech majors Apple and Google have been criticised for the high commissions charged from app developers. Apple, in a statement, said the new developer programme will accelerate innovation and help small businesses and independent developers propel their businesses forward with the next generation of groundbreaking apps on the App Store.
Prime Minister Narendra Modi on Saturday began his maiden state visit to Egypt by holding discussions with his Egyptian counterpart Mostafa Madbouly and top cabinet ministers on deepening trade relations and further strengthening the strategic partnership.
He urged every investor to follow his steps and invest in Gujarat.
The prime minister will leave for the Indonesian city of Bali on Monday on a three-day visit to attend the summit that is expected to deliberate extensively on pressing global challenges including the Ukraine conflict and its implications.
'Winning a deal is one aspect, making sure that we are able to execute it profitably is also important' says Rajesh Nambiar.
The country's largest private lender HDFC Bank is planning to facilitate a shift in its payments module from the existing core banking platform. This would ensure minimal payments downtime, even if core banking is not available. "This 15-month project will be followed by hollowing the customer-master modules from its existing core systems. "It will ensure a single system of record for customers across various products," said Sashidhar Jagdishan, managing director (MD) & chief executive officer (CEO), in the annual report for 2021-22.
Foreign Direct Investment into India rose by 13 per cent in 2020, boosted by interest in the digital sector, and while fund flows "declined most strongly" in major economies such as the UK, the US and Russia due to the Covid-19 pandemic, India and China "bucked the trend", the UN has said.
A multi-billion dollar broadcast market, the game's most powerful board's positive intent and a perfect pitch by the global body based on a three-fold 'U-P-L' principle ensured cricket's inclusion in the 2028 Summer Olympics in Los Angeles.
'We are anticipating that the hiring trend will continue to see double-digit growth at least for the current financial year.'
'Domestic will remain very much the core of what IndiGo is.' 'But the emphasis in our next growth phase is going to be on the international side.'
Three senior executives have resigned from Byju's at a time when the most valuable edtech company has been trying to address challenges such as due diligence issues, legal battles with lenders, challenges in raising fresh capital, and a markdown in its valuation by investors. Prathyusha Agarwal, the chief business officer of Byju's, has quit, according to sources. They said Himanshu Bajaj, business head of Byju's tuition centres, and Mukut Deepak, business head for Class 4 to 10, have also moved on.
Prime Minister Narendra Modi began his engagements in the US on Thursday by meeting with leading American CEOs from five different key sectors and highlighted the economic opportunities in India.
Uber India has readied itself for another $500 million (Rs 3,300 crore) investment in the next three months.
In December last year, Amazon invested over Rs 1,700 crore into its payments and wholesale business units in India, while in October it had infused over Rs 4,400 crore (more than USD 600 million) in its various units in India, including marketplace and food retail. Bezos last visited India in 2014 when he presented Amazon's Indian unit with a giant cheque for USD 2 billion. Since then, Amazon has pledged a further USD 3.5 billion to expand in the country and the USD 1 billion investment announced on Wednesday would take the total committed investment to USD 6.5 billion.
With the objective of making India a manufacturing hub for domestic and foreign companies, Prime Minister Narendra Modi on Thursday launched the 'Make in India' initiative.
Apart from the Google team led by AI scientist Manish Gupta, the company will also partner with the research community across the country to focus on tackling challenges in fields like healthcare, agriculture, and education.
As the FM said, this is a Budget that lays the foundation for the next 25 years, observes Kumar Mangalam Birla.
A look at the key decisions taken by the Narendra Modi government in its six months.
A total of 3,006 session sites across all states and union territories will be virtually connected during the launch at 10.30 am by Prime Minister Narendra Modi and around 100 beneficiaries will be vaccinated at each session site.
Like software-as-a-service (SaaS), CaaS has emerged as a well-orchestrated ecosystem for cybercriminals.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
Prime Minister Narendra Modi, in his address at the 76th session of the United Nations General Assembly on Saturday, invited the global manufacturers of vaccines to come and make vaccines in India, stressing that the country's "faith is to serve people".
IMD is preparing a concept paper on narrowing its grid resolution from 22 sq km to 10 sq km.
In the technology (tech) world, especially storage, Sanjay Mehrotra is a well-known name. Co-founder of SanDisk, a flash memory storage company in 1988, it was eventually acquired by Western Digital in 2016 for a whopping $19 billion. For a boy from Kanpur, who went on to pursue higher studies in the US, becoming the chief executive officer of Micron Technology, Inc - one of America's largest memory chip makers - and now setting up the company's first plant in India, it has been quite a ride.
Data on the new series given by a panel on real sector statistics shows that GDP grew by 10.23 per cent in 2007-08 and 10.78 per cent in 2010-11. There are some years for which the new figures show a deceleration in growth as well. The new series has 2011-12 as the base year while the earlier series had 2004-05 and 1993-94.
India has the capacity to store vaccines that may require a lower temperature in the range of -15 to -20 degrees Celsius and there are over 29,000 cold chain points (CCPs) across the country where vaccines are stored at the recommended temperatures, the Centre has told the Supreme Court.
Pichai will visit India accompanied by the heads of various Google business units
Deloitte Touche Tohmatsu India LLP (DTTILLP) has announced its list of 50 fastest growing technology companies in the country with fintech emerging as the fastest growing segment. Conducted by DTTILLP, the programme ranks the fastest growing technology companies in India based on their percentage revenue growth over the past three financial years. The aggregate revenue of the top 10 companies has gone up from about Rs 21 crore to just under Rs 400 crore, representing a growth of close to 20x in the 2018 to 2020 period, a Deloitte statement said. Fintech emerged as a key sector in this year's rankings represented by four of the top six winners, it added.
Social integration with inclusion is is most necessary.
Modi tweeted that the meeting discussed important issues related to the progress of vaccine development, regulatory approvals and procurement.
If you are serious about your future, here are some MBA programmes and short courses you can consider, advises Arun Jagannathan is co-founder and CEO, CrackVerbal.
Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
