In a clear sign of how global recession has affected placements, Day 2 of the Slot Zero at the Indian Institute of Management-Ahmedabad saw consulting firms emerge as the clear favourite over the traditionally-preferred investment banks.
The highest compensation package for the Global MBA class at the S P Jain School of Management stood at Rs 43.9 lakh while that for the MGB programme was Rs 35 lakh.
Indian students are worried that the economy's current instability may adversely affect their job prospects, according to a study by global management consultancy Accenture.
Accenture, one of the leaders in global management consulting, technology services and outsourcing company, on Wednesday launched a training academy, in collaboration with Xavier Labour Relations Institute, Jamshedpur.
Many locals grumble that it will mostly be an inconvenience.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Tata Consultancy Services (TCS) on Friday reported a 9 per cent growth in net profit at Rs 12,434 crore in January-March quarter of FY24, helped by improved margin and strong performance of its India business. The largest software services exporter had reported a post tax profit of Rs 11,392 crore in the same period of the preceding fiscal. In the entire FY24, the company's net profit surged 9 per cent to Rs 45,908 crore, while the revenue rose to Rs 2,40,893 crore from Rs 2,25,458 crore registered in FY23.
As many as 7 per cent of bank account holders in the country are using the Internet for banking transactions, while branch banking has fallen by a full 15 percentage points, according to a report by global management consultancy McKinsey & Company.
Branch usage has dropped by 27 per cent on an average across Asia between 2007 and 2011.
Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam--now ranked among the top 20 offshoring locations, the report said.
Labour cost advantage associated with offshoring information technology services to countries like India, China and the Philippines, are declining.
India may have been hailed for long as the world's top outsourcing destination, but according to a survey in the annual Black Book of Outsourcing, as many as 8 Indian cities are among the world's 25 riskiest places for offshoring.
'The private sector believes that some enablers in labour-intensive sectors like apparel, toys, tourism, and media retail, can unlock a lot of jobs.'
Global management consulting, technology services and outsourcing company, Accenture has announced a grant of $200,000 to an organisation working for the under-privileged children in developing nations, including India, Nepal, Cambodia and Vietman.
The Securities and Exchange Board of India (Sebi) is in the process of issuing a standard operating procedure (SOP) for designated depository participants (DDPs) regarding disclosures and onboarding of foreign portfolio investors (FPIs), according to a regulatory document seen by Business Standard. DDPs act as a link between the markets regulator and overseas investors. The SOP, framed in consultation with the industry, aims to bring consistency across all players and avoid any form of regulatory arbitrage.
Nearly 40 per cent of IITians sitting for placements in 2024 are yet to receive job offers, showing a doubling of the 'unplaced' in the last three years from 19 per cent in 2021-2022 to 38 per cent in 2023-2024.
As the job markets open up, top IT services firms may look at a tiered strategy in which they hire entry-level talents at higher salaries, amid a major technological shift, say HR analysts.
Among index funds, the most popular products are funds tracking the Nifty 50 and Sensex, says Dwaipayan Bose, and explains the finer points of selecting the right index mutual fund.
Global management consultancy firm McKinsey has moved the Bombay high court against Reliance Industries and Reliance Communications for non-payment of dues of Rs 27 crore
Accenture, a global management consulting, technology and outsourcing company, plans to increase its headcount in India to 35,000 from 27,000 this year.
Market regulator Sebi does not expect a large number of foreign portfolio investors to be impacted by the new beneficial ownership disclosure norms, according to sources. The norms are set to come into effect from February 1 and against this backdrop, the equity market has witnessed significant volatility, with the benchmark Sensex crashing over 1,000 points on Tuesday after shedding early intraday gains. The sources in the know said FPIs which may be required to provide enhanced disclosures are expected to be significantly less than estimated in the consultation paper and the Sebi board note of October 2023.
North American automotive executives have picked India over China as the most popular offshore destination for the migration of business processing activities, according to a new survey.
'With continued focus on votes, upcoming by-polls and purchasing politicians, the political hierarchy has little time for national defence.' 'They would do well to heed a veteran scholar, who says, "There will be war with China in the next few years. The next full scale war will have the involvement of Pakistan and terror elements, insurgents and intelligence assets operating inside India",' warns Lieutenant General Prakash Katoch (retd).
Among the Sensex firms, ITC, Kotak Mahindra Bank, ICICI Bank, Nestle, Axis Bank, IndusInd Bank, UltraTech Cement, Bajaj Finance, Maruti and HDFC Bank were the major laggards.
Krithi Krithivasan is the kind of person one might look to when the need is to calm things down and put things back on track.
Certain changes in the past two or three years could have a long-term structural impact on the IT services market.
The explosive rate of growth in India has created a phenomenal demand for talent leading to higher salaries. Salaries are forecast to rise by 14.4 per cent during the year 2008, says a latest report.The high level of demand for experienced employees is driving wage inflation and creating a culture of job-hopping.
With wage gap between UAE and Indian salaries on a decline, the businesses in the Emirates may have to pay more to Indian workers here to prevent them from opting for opportunities back home.
'Unless the government comes up with the rulebook, the technical requirements will not be clear to us.' 'Going by the Act, non-technical provisions can be complied with within six months.' 'But we need up to 24 months for provisions like parental consent.'
'From our survey we found that there was a problem in the agricultural sector and drones could solve the problem.'
At 5 per cent, Mumbai is likely to witness the highest rise in residential prices in 2024, a report released on Wednesday said. New Zealand's Auckland will also see a price rise of 5 per cent. According to real estate consultancy Knight Frank's "Prime Global Cities Index", improving gross domestic product (GDP) figures, Mumbai's relative value and investment in infrastructure will be the prime influencers in pushing prices higher for the luxury housing market in the city.
India, which constituted over 13 per cent of Accenture's global headcount of 115,000, is its second largest geography in terms of the number of people employed after the United States.
Quarterly earnings from IT majors Tata Consultancy Services (TCS), Infosys, macroeconomic data announcements, global trends and trading activity of foreign investors would guide the movement in the equity market this week, analysts said. Movement of global oil benchmark Brent crude and the rupee will also influence trading in the markets. "All eyes will be on the beginning of corporate performance for the second quarter of the current fiscal year. TCS is slated to unveil its Q2 results on October 11, with HCL Technologies and Infosys following suit on October 12.
'The expeditious enactment of labour codes and strategic measures to bridge the skills jobs gap are critical.'
Sixteen merchant banks are in the fray to act as book running lead managers (BRLM) for the initial public offering of Life Insurance Corporation of India (LIC). These merchant banks will have to make a presentation before the Department of Investment and Public Asset Management (DIPAM) on August 24-25. The shortlisted banks are BNP Paribas, Citigroup Global Markets India, BofA Securities, Goldman Sachs (India) Securities, HSBC Securities and Capital Markets(India), J.P. Morgan India, Nomura Financial Advisory and Securities (India), Axis Capital, DAM Capital Advisors, HDFC Bank, ICICI Securities, IIFL Securities, JM Financial, Kotak Mahindra Capital, SBI Capital Market, and Yes Securities India.
With rising incomes, education, and health awareness in India, especially in the big cities, droves of people are saying no to sugar.
US-based chipmaker Micron Technology is expecting demand for semiconductors to rise significantly in the next few years, globally and in India, as memory consumption is going up, largely driven by the widespread adoption of technologies like artificial intelligence (AI). "Memory consumption is expected to double by the end of the decade and the biggest driver in this is AI. "While it's natural to talk about compute and GPUs (graphics processing units) in the context of AI, it is not to be forgotten that the true enabler for AI is memory ... in all the AI engines that we talk about, there is a lot of need to access memory quickly," Anand Ramamoorthy, managing director, Micron Technology India, told Business Standard.
As many as 86 per cent of senior business executives have deployed artificial intelligence (AI) to enhance revenue streams or create new ones, said a report by Tata Consultancy Services (TCS) on Wednesday. As many as 69 per cent of businesses are more focused on using AI for innovation and increasing revenue than on improving productivity and optimising cost, said the 'TCS AI for Business Study'.
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