'Domestic investors are opening up to the idea of high-growth Internet companies as a pool of value creation.' 'They like the execution that they see with Zepto, and for us, that is the most important factor.'
Moreover, the implementation of the Sixth Pay Commission -- which has raised the pay packets of government employees almost at par with their private sector counterparts -- has increased the attraction for public sector jobs. In the wake of the economic downturn, industry experts feel there has been a shift towards public sector employment.
The investor education and protection fund authority (IEPFA) has reached out to top hundred companies to reduce the documentation required for individuals trying to claim their shares, according to a senior government official. Recently, the Supreme Court-appointed expert panel on the Adani-Hindenburg case had raised issues such as capacity constraints faced by IEPFA in clearing these claims which are over Rs 5,000 crore. "Our immediate priority is to ensure that claims of those investors whose application was approved a year ago but the transfer has not gone through yet are settled first.
While praising the internship scheme announced in the Budget, India Inc wants clarity on how it will be implemented. The scheme is expected to help companies address the skill gap in employment. Dheeraj Hinduja, chairman, auto major Ashok Leyland, said: "We had started an internship programme at our plant in Pantnagar, which we established in 2010 with colleges there.
According to several industry sources in the know, expenses towards deploying contractual staffer, which used to account 10 per cent of the overall billable employee cost at IT firms, has fallen to around 3 per cent. IT firms typically use the contractual workers from staffing solutions providers or subcontractors.
IT services firms' revenue growth in the fourth quarter will be affected by macro-driven headwinds, lower working-days, and the fact of the three-month period being low season. Analysts are expecting FY24 growth to be muted. Revenue growth will decline 600-700 basis points to 10-12 per cent for FY24, said a CRISIL Ratings report. The 10-12 per cent growth rate is a fall from the 18-20 per cent expected in FY23 and around 19 per cent growth in FY22, the highest in eight years, said the CRISIL Ratings report.
Severe skilled, unskilled shortage threatens to pull emergency brakes on India's industrial engine.
'As the city grows, so do its fire incidents.'
Mandates have been handed out to staffing solutions companies such as Randstad India and TeamLease, officials at these firms have said, as players increasingly push into rural areas to capitalise on the uptick in the hinterlands.
'We are also conducting ongoing training and grooming at the branch level to pre-empt such cyberattacks.'
'There is a behavioural shift and conservativeness with companies cutting down on manpower and rationalising the number of people.'
Industry officials say the crunch has not only affected manufacturing of edibles but even of items like nozzle pumps and other goods used in packaging.
Multiple reasons accounted for the losses, including manpower crunch and lack of clarity on the merger of National, United and Oriental, reports Namrata Acharya.
In platforms, such as Twitter, Facebook, TikTok, Helo, and ShareChat, mediators have been asked to put in more hours to ensure that no communal or fake news spread.
With the arrests of nine men, including four Bangladeshi nationals, the Delhi Police on Monday claimed to have busted an international racket that used to send people to European countries on the basis of illegal documents.
For every one experienced candidate being recruited by e-two wheeler companies, 10 have no prior experience; recruitments are for skilled, low-end jobs, not for managerial or supervisory roles.
India has the best hiring outlook globally, second only to Brazil, with 54 per cent of companies surveyed planning to hire in the December quarter as against 51 per cent in the September quarter, according to a report by global staffing firm ManpowerGroup. The report titled "ManpowerGroup Employment Outlook Survey" showed that India has the strongest net employment outlook for the December quarter in the Asia-Pacific region, followed by China (46 per cent), and Australia (38 per cent). The global net employment outlook in the December quarter would stand at 30 per cent, down by three percentage points from the June-September quarter, yet six percentage points higher than the same period last year, the staffing firm said.
Most of the pharma units are failing in documentation, and validation processes, and many don't have full-fledged quality control laboratories.
In addition to these temple models, metallic rings, lockets and other cloth items bearing Lord Ram's name are flying off the shelves in Ayodhya, according to shopkeepers.
Besides growing tech and digital enhancements, the firms are ramping up the hiring of more delivery partners and reinforcing existing Covid protocols.
Sources close to the development told Business Standard the company was exploring different ways to save on its employee costs and had laid off a few employees on "performance" grounds. "We will see a similar development for the next few months. "The company is fine-tuning its hiring policies and implement rigourous measures to look into employee performance," a source said.
According to various manpower outsourcing firms, more and more companies are resorting to temporary staffing. Rakesh Joshi, regional manager -- operations, IKYA Staffing Solutions, said permanent staffing had seen a slow growth in the recessionary phase. He said companies were not only going for temporary staffing in the junior level recruitments, a few of them were also opting for temporary staffing in middle management.
Indian employers are second most likely to hire more employees in the world after Japan in the second quarter of 2006, according to a survey by global recruitment consultancy firm Manpower.
Specific sections of the Companies Act need to be amended to empower Sebi to regulate or take penal action against an unlisted entity and its promoters for violating the insider trading and other securities norms.
Three companies -- FirstMeridian Business Services Ltd, IRM Energy Ltd and Lohia Corp -- have received capital markets regulator Sebi's go-ahead to raise funds through initial public offerings (IPOs). These firms, which filed their preliminary IPO papers with the markets regulator between September 2022 and January 2023, obtained the observation letters during February 21-24, an update with the Securities and Exchange Board of India (Sebi) showed on Tuesday. In Sebi parlance, observation implies go-ahead to the company to float the initial share-sale.
The probe agency, while seeking Patkar's custody, also told the court that an offence of such magnitude was not possible without the "explicit complicity of senior functionaries" of the Brihanmumbai Municipal Corporation.
This is expected to benefit subcontractor firms such as Manpower Group, Randstad, Adecco, Kelly Services, Allegis Global Solutions and a host of other boutique staffing firms which supply skilled manpower to technology companies in the US.
Hero MotoCorp, Honda Motorcycles, Scooters India, TVS, Honda India, Toyota Kirloskar Motor, Ford, Nissan, Ashok Leyland are all giving the Auto Expo a miss this time.
The government is planning to draft rules for the National Company Law Tribunal (NCLT) to deal with Insolvency and Bankruptcy (IBC) cases, according to official sources. The Ministry of Corporate Affairs (MCA) is also looking to fill all vacant posts at various NCLT Benches by August and put in place an IT-enabled system that would use artificial intelligence (AI) for case management. The NCLT, adjudicating authority for matters related to company affairs, was constituted before the IBC came into effect.
The entities are classified as 'vanishing companies' if they cease to file their balance sheets and other documents after raising capital and the whereabouts of their offices or directors become untraceable.
Most firms operating in the space claim that they have seen at least a two-fold rise in orders as compared to other times.
The Indian IT-ITeS sector, which has seen an upward revision of salaries in the last two-three years, is likely to witness moderation of wages from next year due to a gradual improvement in availability of professionals.
Kirlosker Brothers' Limited sent teams from its offices in India, Thailand and the United Kingdom to the site.
Foreign portfolio investors (FPIs) are likely to seek from the finance ministry a six-month extension of the date for complying with the amendments to the Prevention of Money-Laundering Act (PMLA), citing implementation challenges. Sources said FPIs, through their custodians, were planning to approach the ministry, highlighting key concerns and seeking more clarification. The ministry, through a notification on March 7, lowered the threshold for reporting ultimate beneficial ownership (UBO) for non-profit organisations and politically exposed persons to 10 per cent from 25 per cent.
They need to upgrade their skills and become smaller, smarter organisations, says Devangshu Datta.
As per the survey, 7 per cent of employers anticipate an increase in payrolls, 3 per cent forecast a decrease and 54 per cent expect no change.
The norms, say industry experts, are not sufficient to weed out fly-by-night contractors.
'There are unscrupulous traders who create fake invoices by showing bogus e-way bills, movement of goods.' 'Since the entities registered across different states, and kept on changing their numbers, tracing them was difficult.'
India may soon see a new set of oil barons with lesser-known companies venturing into crude oil and natural gas production. These new kids on the block have come up through a mix of entrepreneurial grit and backing from oil industry veterans. Nippon Power, South Asia Consultancy, PFH (Poddar Family Holdings) Resources and Chennai-based Adbhoot Estates could be the first ones to start production from blocks awarded during the first round of Discovered Small Field (DSF-1) auctions. Adbhoot is in a 50:50 joint venture with the Bombay Stock Exchange-listed Hindustan Oil Exploration Company that has some five oil producing assets and over 10 blocks across the country.
Syndicate Bank is planning to set up a subsidiary for providing business process outsourcing services.
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