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    Indian HNIs swell by 12.2% YoY in 2023, wealth surges 12.4% on booming markets, economy: Report

    The number of high net-worth individuals (HNIs) in India increased by 12.2% in 2023, reaching 35.89 lakh individuals. Their financial wealth also rose by 12.4% to $1,445.7 billion, driven by a strong economy and the performance of domestic equity markets.

    Wipro CEO banks on internal talent, promotes veterans

    Focusing on inside talent comes at a time when it has been dealing with exodus of senior leaders. This also comes after a period when Delaporte hired a lot of foreign citizens and expats at high salaries.

    FM Sitharaman bats for a bigger manufacturing play, looks to increase country’s share in global value chains

    Finance Minister Nirmala Sitharaman advocated for a significant boost in domestic manufacturing to enhance India's self-reliance and integration into global value chains, rejecting the idea of solely focusing on services. Speaking at the Confederation of Indian Industry (CII) annual business summit, she emphasized the government's partnership with India Inc for national development. Sitharaman expressed confidence in Prime Minister Narendra Modi's re-election, planning to engage with CII post-elections for budget consultations.

    India needs to focus on manufacturing, achieve greater sophistication: Nirmala Sitharaman to Indian Inc

    Finance Minister Nirmala Sitharaman flagged the need for India to boost its manufacturing sector to achieve self-reliance and increase its share in the global value chain. She highlighted the importance of policy support and sophistication in product manufacturing to attract investment and reduce dependence on China. The minister also discussed the success of the PLI scheme in sectors like telecom and electronics, showcasing India's potential for growth and investment.

    Wipro elevates Vinay Firake to head APAC, India, Middle East and Africa

    Vinay Firake appointed CEO APMEA at Wipro, succeeding Anis Chenchah. Srini Pallia leads. Delaporte resigned, Hari Shetty elevated. Chenchah supports till May 31, 2024. Firake's educational background includes Wharton and Harvard Business School.

    IT companies Cognizant, Capgemini hired 1.5 lakh less hands in 2023

    Global hiring decline in 2023 impacted major IT companies like Cognizant and Capgemini. Indian IT firms also faced headcount reductions. Everest Group attributed layoffs to Covid over-hiring, while Gen AI influenced hiring decisions.

    • Paytm stock slides after COO exit; India’s first microcontroller chip

      Shares of Paytm parent One 97 Communications fell 5% on Monday after its president and chief operating officer Bhavesh Gupta resigned. More on this in today’s ETtech Top 5.

      Capgemini Q1 FY24 revenues drops 3.5%, offshore headcount dips

      The revenues in Q1 of FY23 stood at €5.73 billion ($5.92 billion). On a constant currency basis, revenue declined 3.3%. Capgemini follows January to December as its financial year.

      Pepperfry FY23 report card; Microsoft’s Ahmed Mazhari on India’s role in AI adoption

      Omnichannel furniture retailer Pepperfry narrowed losses slightly to Rs 187.6 crore in FY23 from a year ago while operating revenue grew modestly. This and more in today’s ETtech Top 5.

      India Inc dishes out a course on food sustainability

      ​Companies—particularly those in the IT/ITeS/technology space—including Capgemini, Infosys, Hexaware Technologies, NetApp, and Flipkart are cracking down on food wastage as they drive awareness among employees about the environmental impact of excess consumption.

      As employees return to office, Corporate India wants them to bond

      NatWest Group, Tech Mahindra, EY, and Capgemini are among the companies that have launched a host of initiatives, including frequent team catch-ups, in-person group sessions, 'fun at work' and sports events, and assigning 'buddies' to the new employees - all aimed at promoting cohesiveness at work and improving productivity. NatWest Group has so far organised more than 40 in-person group sessions for employees who joined during the pandemic.

      Gender pay gap widens as women go up the tech ladder

      Aon’s latest estimates shared exclusively with ET showed that the unadjusted gender pay gap in the technology sector in 2023 is in the range of 28-30%, while for junior management, it is 8-10%.

      AI value to be unlocked with cloud adoption at scale: Report

      Nearly two in three financial services firms have started using artificial intelligence (AI) and look to utilise it across the full value chain in the next two years, says a report.

      Capgemini Q3 revenue falls after decline in North America

      ​​Capgemini’s performance in Q3 was a “prolongation” of the trends observed since the start of the year, extending as expected the gradual slowdown seen in previous quarters, it said in a statement.

      TCS announces 100% variable pay for majority of staff

      The variable payout for the remaining employees will be based on their business unit’s performance, said chief human resources officer Milind Lakkad.

      Corporate India is going the extra mile to hit green goals

      Several companies in corporate India, including Infosys, Capgemini, Ericsson, and EY Global Delivery Services, are taking steps to reduce their carbon footprint and promote a greener future. Measures being taken include increasing the usage of electric vehicles, cutting down non-essential travel, phasing out CNG vehicles, and encouraging carpooling among employees. Companies are also using technology to create awareness and provide information on carbon-efficient travel options.

      Capgemini sets sights high with Indian talent; govt to mandate NavIC chips in smartphones

      With more than half of its employee base in India, IT major Capgemini views India as one of its fastest-growing markets and a talent hub, global chief executive Aiman Ezzat told ET in an exclusive interaction. This and more in today’s ETtech Morning Dispatch.

      People come to India for its talent, not to cut costs: Capgemini global CEO Aiman Ezzat

      Aiman Ezzat during his ongoing India visit, said that he is hopeful of the demand situation improving over the next two-to-four quarters but is waiting for an inflection point.

      Gen Z workforce compel companies to roll out new-age benefits to attract talent

      Where pre-pandemic employees were more focused on cash-related benefits/ perquisites, post-Covid, it's wellness and safety that takes the centre-stage, the 2023 Deloitte India Benefits Trends Survey, shared exclusively with ET, has revealed. The focus on insurance and wellness that became critical during Covid continues to exist -- and organisations are continuing to adopt flexible work models to ensure the work-life balance and support employees.

      Capgemini renews office lease in Hyderabad's Kokapet Area

      The property was leased from GAR & Sons builders. The office space has a lease tenure of 60 months across two separate deals with 15% escalation, as mentioned in a lease document shared by Propstack.

      ETPWLA 2023: Announcing the nominees for the Sales Leader of the Year Award

      In anticipation of the ETPrime Women Leadership Awards (ETPWLA) 2023 Grand Finale on August 4, 2023, the Economic Times takes pride in unveiling the finalists for the Sales Leader of the Year Award category. These women leaders have set new standards of excellence and made significant impact for their businesses through their achievements in the domain of Sales and Business Development.

      Capgemini to build state-of-the-art innovation centres in the country; another office coming up in Gujarat

      Capgemini will establish a new 500-seat office in Gujarat International Finance Tec-City (GIFT City), and develop modernised infrastructure at its Talwade campus in Pune, which will be significantly expanded. The move to build innovation centres and improve infrastructure in India reaffirmed the company's commitment to providing staff training and nurturing external talent.

      Corporate India takes special care of new mothers returning to work

      A host of organisations like Capgemini, EY, Titan Co and Grant Thornton Bharat are rolling out initiatives like flexible work options, employee resource groups, creche subsidies, onsite childcare, nursing rooms and designated parking spots in an effort to provide support to new mothers within the workforce and ensure a smooth transition back to work post maternity leave.

      Cognizant Q1 net profit up 3%, to lay off 3,500; Ready to tie up with NPCI: Visa’s Alfred Kelly

      Cognizant’s net profit increased 3% in the first quarter to $580 million on lower administration costs and a bump in other income. It will let go of 3,500 people over the next two years.

      Capgemini reports 10.9% YoY revenue growth in Q1

      The company's revenue reached 5.73 billion euros ($6.35 billion) over the period, 10.9% above the first three months in 2022. For the full year 2023, the company guided for 4-7% revenue growth in constant currency, similar to the guidance shared by Infosys.

      IT campus offers hit a slow lane, down by about a third from last year

      Macro issues such as high inflation as well as turmoil in the financial services sector in the US and Europe have made the demand outlook challenging for India’s $245-billion IT sector, making companies cautious on expansion and cost.

      Capgemini strengthens its academia collaboration to upskill future talent

      In the coming years, Capgemini plans to make its academia collaboration more robust, repeatable and scalable so that a sustainable ecosystem is created and effectively leveraged across diverse portfolios.

      Caution, conservative client outlook behind Capgemini’s muted guidance: CEO Ashwin Yardi

      The uncertain nature of the inflationary environment has led clients to invest in cost saving projects, Ashwin Yardi, chief executive of Capgemini India, told ET.

      Tech players to remain cautious over first half of next fiscal: Ashwin Yardi

      There is some amount of shift on where the clients are focussing, so the shift is either looking at much larger cost-saving programmes or looking at supply chain oriented programmes because that is something which most of the industry still continue to face as a challenge.​

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