While overall employment rose from 456 mn to 463 mn between FY11 and FY15, with farm employment falling by 26 mn over the same period, the net addition to employment over the entire four year period was a mere 7 mn.
McKinsey, RBS postpone placements by three to six months
Chef Aditi Handa, who is deeply invested in baking, makes the most delicious sourdough.
Executives in emerging markets, including India, are most optimistic about recovery in the economic conditions, and almost half of the respondents expect the growth rate to return to pre-crisis level by 2011, a survey says.
Undaunted by US President Barack Obama's Bangalore-Buffalo remark, the domestic IT industry said the comments had nothing to do with outsourcing or with India.
Close on the heels the Tatas and Infosys announcing plans of leadership change, L&T chief A M Naik has said his successor will be named by March 2012, a full six months before he hangs up his boots.
India faces a shortfall of as much as $190bn in financing key infrastructure projects as the global crisis chokes off urgently needed capital, according to a study by McKinsey, the management consultants.
Manu Kumar Jain, India head, Xiaomi, tells Sangeeta Tanwar how the Chinese smartphone maker won over the Indian market.
Kumar has been director on the board of ISB, which is affiliated to Wharton, Kellogg and London School of Business, for four or five years.
Over 36 per cent of the 1,630 executives surveyed in India in March this year expected an upturn in the global economy by the end of 2009, as against 34 per cent of North American business executives and 32 per cent of Chinese. Asia-Pacific and Europe recorded 28 per cent and 24 per cent on the hope meter. However, about 62 per cent of Indians surveyed expected the world economy to rebound only by 2010 or later.
The downturn is forcing customers in Japan to scale back purchases of luxury goods, accelerating a long-term shift in consumer attitudes, according to a report by McKinsey, the consultants.
Yes, India needs desperate measures to kick-start growth. But selling off its lungs to the highest bidder to hack away cannot be the way out, says Sumit Bhattacharya.
IT industry association Nasscom on Tuesday said the export revenue target of $50 billion by 2010 will be delayed by 3-4 quarters due to the global economic downturn, and warned of uncertainties in the near future.
'Initially, Gift City was just another real estate project, but all that changed with Modi moving to New Delhi,' notes Tamal Bandyopadhyay.
India has a huge infrastructure problem and the solution so far appears to be to throw more money at the problem, without much effort to fix the core issues, says Sunil Jain.
The study contains findings across credits and enterprise risk, operational risk, ALM and market risk. 'Both sets of banks (new-generation and traditional) have highlighted the lack of adequate people capabilities as well as the scope/ mandate of the mid-office as key concern areas,' it said. Both are at par with the surface, treasury scope, trading strategies and instruments; improved financial performance is strongly correlated with superior risk management practices.
An additional 68 million women could potentially enter the labour force over the coming decade.
As IT majors face a decline in their legacy business, they are realigning their sales strategies to push up revenues from newer technologies.
A McKinsey study on the last slowdown of 2001-2002 showed the companies that emerged successfully from the downturn were those that used their cash, did lots of mergers and acquisitions, and stepped on the accelerator.
The world's largest economy US is expected to witness credit losses of a whopping 3.1 trillion dollars, as the country experiences worsening recessionary trends.
Ajit Jain specialises in mega-catastrophe coverage, that is, he takes risks that rivals avoid.
Executives say innovation is very important, but their companies' approach to it is often informal, and leaders lack confidence in their innovation decisions. Top managers and other professionals agree that the biggest challenge is talent but disagree on why. Nonetheless, executives agree on some steps to improve innovation.
Industry bigwigs and corporate heavyweights have been scurrying to get the best students for themselves. Naturally, salaries are headed north.
An article in the latest The McKinsey Quarterly argues that thanks to rising wages in countries like China and Malaysia (favoured offshoring locations for manufacturing) and high costs of oil, the advantages of offshoring are rapidly eroding.
Even as retail consultants continue to roll out the slide about the bright prospects for modern trade, on the ground, sales are sliding
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.
This project christened 'Project Arrow' has been launched to initially upgrade 500 post offices, across 10 circles, mostly in rural areas, by the end of this calendar year. Under the project, 500 post offices will receive a makeover, to represent the standardisation of quality. The department of posts has developed standardised and consistent interior and exterior blueprints for 500 post offices and will install uniform modular furniture across the post offices.
A McKinsey & Company report also said organised retail was expected to grow from the current 5 per cent to 14-18 per cent of the total retail market in 2015. It added that retail in India could be profitable but not with 'cut and paste' global formats. The greatest challenge would be to maintain the organisation's focus on profitability while cultivating flexibility.
According to a survey conducted by global consultancy firm McKinsey, 48 per cent of the executives from across the world pointed out climate change as the single biggest concern that would affect the shareholder value over the next five years. In a similar survey conducted in 2005, the executives had termed job losses from offshoring as biggest socio-political issue and environment issue stood at third place.
"I must admit that given the nature of competitive politics and the very fractured mandates given to governments, it has become difficult sometimes for us to do what is manifestly obvious," he said, addressing a meeting of McKinsey Board in India.
Nine years ago McKinsey, on behalf of Nasscom, projected that India's software and services exports would touch $50 billion by 2008
Gupta began serving a two-year prison term on insider trading charges
Off-season sales, when shopping malls and high streets buzz with tempting offers of up to 70 per cent discounts on your favourite brand of shirts, jeans or even home textiles
According to international consultancy firm McKinsey, companies across the world are mostly planning to increase their headcount in the next six months with firms planning new hirings being double of those looking for job cuts.
It has been clear for a while that India needs manufacturing - and it may be true that global manufacturing needs India as well. Time to strike while the iron is hot, say Rajat Dhawan, Anu Madgavkar and Sree Ramaswamy.
Data collected from the Registrar of Companies, or RoC, show that The Firm, as McKinsey is reverentially referred to, has been making steady losses in India since 2004-2005, except in 2006-07. It ended 2007-08 with a loss of Rs 2.26 crore, which was a lot better than the figure in some of the earlier years.
The $55 billion Remote Infrastructure Management business is on the topmost agenda of an increasing number of Fortune 500 companies and Global 500 enterprises.
Having dominated the summer placement scene at IIMs, companies like McKinsey, Boston Consultancy Group and UBS showed up for the first time for placements at IIT Bombay.
Even amidst fears of global slowdown, Indian businesses will continue to hire robustly for the next three months beginning November 2007, a McKinsey survey of global executives on the economic and hiring outlook has stated. The survey, based on responses from over 2,500 executives from around the world, revealed that more than 40 percent of the respondents expect to add workers in the short term.
MMTC Ltd, the largest of the three companies, is seeking approval for the merger from its 2,000-odd employees this week, and State Trading Corporation and PEC will launch a similar exercise next month.
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