Inefficiencies and delays in implementing projects during the Eleventh and Twelfth Five-Year plans may result in a gross domestic product loss of $200 billion by 2016-17, said a top management consultancy firm in its report. This would imply a loss of 1.1 percentage points to India's GDP growth rate.
The report suggests India in the longer term needs to create far more jobs in the formal organised sector -- 97 per cent of all female worker activity is in the informal sector
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
Exports of food products can become a valuable growth driver for the Indian food industry
The survey, by McKinsey Quarterly between December 2 and 8, shows that compared with the situation one month earlier, twice as many executives now expect their companies' profits to fall next year and more than half expect deflation in their countries in the first quarter. But small private companies are still doing better, it finds. A downturn, it says, appears to have begun hitting developed markets harder over the month.
India could emerge as hub for apparel outsourcing but will have to undertake reforms in key areas like labour, according to McKinsey.
India's human development indicators show that deprivation extends well beyond the 22 per cent of population who live below the official poverty line.
Kanugolu had also made forays in Rajasthan and Madhya Pradesh following a directive from the party's central leadership but regional satraps Ashok Gehlot and Kamal Nath reportedly were not on the same page as the poll strategist.
'We all work hard and save money, and later spent it in hospitals!'
IPO-bound hospitality major Oyo's India Chief Executive Officer (CEO) Ankit Gupta and the head of its Europe business Mandar Vaidya have resigned. A company spokesperson told Business Standard that the two had moved on from their roles six months ago in March 2023. During the same period, Oyo had rejigged its top management, where the company's COO Abhinav Sinha was reassigned as Chief Product and Technology Officer, while Chief Business Development Officer Anuj Tejpal was reappointed as Global Chief Merchant Officer.
From all indications, Sunil Kanugolu is here to stay, though whether his magic will help the Congress in the northern states in the Lok Sabha elections remains to be seen, wonders Aditi Phadnis.
Logistic players have seen a sharp correction at the bourses over the past six months as intense competition from new-age-tech startups, higher freight rates, and weak macros dented listed players' growth outlook. Analysts warn that the emergence of tech-based startups could weigh on organised players' profit-pool, and can potentially erode their market share. Thus, a stock-specific strategy would be prudent at this juncture with focus on companies that are rapidly innovating and investing in technology.
Women account for 35 per cent of the 860,000 people employed in startups in 2022, compared to 19 per cent in the corporate sector.
'You have to have commitment to both, but it has to be done at the individual level.'
On Friday, Biden announced his intent to appoint 14 people to the advisory committee, which provides overall policy advice to the United States trade representative on matters of development, implementation, and administration of the US trade policy.
The mercury soared to 46.2 degrees Celsius at Najafgarh, making it the hottest place in the capital.
Heatwaves claimed more than 17,000 lives in 50 years in India, according to a paper authored by M Rajeevan, former secretary of Ministry of Earth Sciences, along with scientists Kamaljit Ray, S S Ray, R K Giri and A P Dimri.
...followed by financial services, IT, and sales and marketing.
What do we need more of: Leaders who dominate global institutions or local leaders with a 'Make-in- India' mindset?
Politicians and Twitter warriors around the globe have a new buzzword among them: Net zero. Everyone appears to be keen to state their commitment to net zero, with India providing an outlay of Rs 35,000 crore to achieve energy transition and net-zero objectives in its Budget for FY24, even as the latest and final report by the United Nations' Intergovernmental Panel on Climate Change (IPCC) warned that current efforts are not enough to curb global warming. A number of small factory owners and businesses, however, have pointed out that the transition to net-zero emissions will cost them hugely.
Severe heatwaves, responsible for thousands of deaths across India over the last few decades, are increasing with alarming frequency and soon the country could become one of the first places in the world to experience heatwaves that break the human survivability limit, according to a new report.
To ramp up domestic battery manufacturing capacity and reduce the dependence on imports, the government has initiated talks with a few lithium-rich countries to supply the mineral to Indian companies, industry sources informed Business Standard. The Ministry of External Affairs (MEA) held a meeting with the ambassadors of countries, including Argentina, Chile, and Bolivia, among others, to put forth its request.
Prime Minister Narendra Modi Wednesday said the International Monetary Fund (IMF) sees India as a "bright spot" in the global economy and as per the World Bank, India is in a better position to deal with the global headwinds than many other countries. This is because of India's strong "macroeconomic fundamentals", Modi said while virtually addressing the inaugural function of the 7th edition of Invest Madhya Pradesh-Global Investors Summit in Indore. In the past eight years, the government has increased the speed of reforms and removed many hurdles in the way of investments.
With the growing talent pool, professionals must keep pushing their limits to stay relevant.
Many governments, especially in the developed world, have resorted to massive stimulus measures to bolster their economies since the 2008 global financial meltdown.
Laxman Narasimhan, a veteran in leading and advising global consumer-facing brands, has been named as the new CEO of coffee giant Starbucks, joining a growing cohort of Indian-origin business leaders at the helm of global corporations.
Unlike many other B-schools, IIM Ahmedabad follows a cluster system of final placements process where sectors are invited in cohorts at regular intervals.
IT industry body Nasscom on Thursday said the sector continues to be a net hirer of skilled talent, and that the top 5 Indian IT companies are planning to add over 96,000 employees in 2021-22. The statement comes in the backdrop of a report by Bank of America that said domestic software firms are set to slash 3 million jobs by 2022 as automation gains pace across industries, especially in the tech space. "With the evolution of technology and increasing automation, the nature of traditional IT jobs and roles will evolve overall leading to creation of newer jobs. "The industry continues to be a net hirer of skilled talent, adding 1,38,000 people in FY2021," Nasscom said in a statement.
The McKinsey report said faster employment growth at 12 million non-farm jobs annually is needed in the post-Covid period till 2029-30, up from just four million created each year between 2012 and 2018.
Last week the reputation of Gupta, one of the most revered business and management icons for the Indian American community, came under a cloud after the Federal Security and Exchange Commission charged him with insider trading.
India has emerged as one of largest destinations in the world for investors keen to put their money into firms doing good. Nita Bhalla reports.
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