EXECUTIVE CENTRE
CXO-level shifts rearrange top deck at Indian startups
The world of startups witnessed a series of top-level movements in the first half of 2024, including Naveen Tahilyani taking the helm as CEO of Tata Digital and the resignation of Surinder Chawla, managing director and chief executive officer of Paytm Payments Bank.
Why new-age EV manufacturers are picking nimble neighbouring states over Karnataka
Karnataka has excellent facilities, but states like TN are more proactive, say industry executives; for some firms, market proximity is key reason to set up facility.
India has the second-highest open access quantum computing users after US, says IBM executive
In an interview to ET, Jay Gambetta, vice president of IBM Quantum, said he saw big opportunities for India to become a pioneer in quantum computing in use cases as varied as sustainability and green hydrogen, efficiency of CO2 recapture process or nitrogen in agricultural yield and logistics.
Awfis plans to raise seats by 50% in FY25
Awfis Space Solutions targets a 50% seat expansion to 135,000, focusing on managed office spaces to drive revenue growth. The company plans to add 40,000 seats by FY25, with new centers following a managed aggregation model. Sobia Khan's report highlights the successful addition of 15,084 seats, primarily under the managed aggregation approach.
NEET malpractices case: CBI gets custody of four accused
Accused were in CBI custody for NEET-UG malpractices at Jay Jalaram School, linked to police investigation and candidates' statements in the Godhra Police case.
JDU national executive to discuss current political situation
JDU is holding its national executive meeting in New Delhi following the Lok Sabha election results. The meeting comes amid a demand from a section of the BJP in Bihar for the party to field its chief ministerial candidate in the next assembly elections. JDU and BJP leaders have dismissed claims of mistrust between the two parties.
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InsurTech firm ACKO drives into car repair and service space
ACKO, the Bengaluru-based insurtech firm, is expanding into car servicing and repair with its ACKO Drive Service Centres, targeting cars out of warranty. Initially launched in Bengaluru, plans include centres in Delhi, Mumbai, Pune, Hyderabad, Ahmedabad, and Chennai. Aiming to reach 100 centres in three years, ACKO seeks to capitalize on the growing $25 billion car service market.
ISRO completes Reusable Launch Vehicle technology demonstrations under challenging conditions
ISRO achieved a significant milestone with the successful third consecutive test of the Reusable Launch Vehicle Landing Experiment, demonstrating the autonomous landing capability of the launch vehicle under challenging conditions. Named 'Pushpak,' the winged vehicle executed cross-range correction maneuvers and a precise horizontal landing at the runway centerline after being released from an Indian Air Force Chinook Helicopter. This success reaffirms ISRO's expertise in acquiring critical technologies for the development of a Reusable Launch Vehicle.
No neat solution to NEET, BSc or gap year part of study plan B
The National Eligibility cum Entrance Test (NEET) is embroiled in controversy, leading students seeking entrance to medical colleges to explore alternative paths such as taking a year off to prepare for the next round, considering foreign colleges, or opting for domestic Bachelor of Science (BSc) programs.
Cushman & Wakefield launches advisory platform to help firms set up capability centres
Global property consultant Cushman & Wakefield on Wednesday announced the launch of an integrated advisory platform to help multi-national companies set up Global Capability Centres (GCCs) in India, Philippines and some other countries. At present, there are around 1,600 GCCs operational in India and the number is expected to rise exponentially to more than 2,400 by 2030.
Delhi Metro Yellow line passengers take note: Services will be affected for two days. Here are all the details
Delhi Metro's Yellow Line Phase-IV undergoes construction, prompting revised train timings on Sunday and Monday. Key changes include altered departure times and service suspensions between Samaypur Badli and Jahangirpuri. DMRC ensures minimal disruption, emphasizing passenger convenience during engineering challenges. Night-time closures are scheduled strategically, aiming to conclude before regular operations resume. Commuters advised to check DMRC updates for the latest information.
Industry executives a worried lot: Why India-China tensions are equal to a big headache for electronics makers
Indian electronics manufacturers have suffered $15 billion in production losses and 100,000 job cuts due to escalating tensions with China. Visa delays for Chinese executives are hindering the industry's expansion plans, leading to a $10 billion export opportunity loss and $2 billion in value addition loss. Government probes into Chinese companies operating in India have further impacted the sector.
Coromandel unveils nano fertiliser plant in Andhra Pradesh
Coromandel International Ltd has launched a nano fertiliser plant at its Kakinada facility, aiming to revolutionise Indian agriculture with energy-efficient technologies. The plant, with an annual capacity of one crore bottles, will produce nano fertilisers to enhance nutrient delivery and absorption by plants. Marketed under the 'Gromor Nano' brand, these products have been developed through the company's in-house R&D center and have undergone extensive farmer trials.
How the Indian GCC boom is lighting up prospects of IT firms
With India emerging as a hub for global capability centres (GCCs), IT services companies are cashing in, setting up projects, looking for partnership opportunities, and even acquiring such centres.
Titagarh Rail Systems opens innovation engineering centre in Bengaluru
Kolkata-based Titagarh Rail Systems Ltd inaugurated an engineering centre in Bengaluru, Karnataka. The centre focuses on innovation and design for TCMS and advanced propulsion systems.
Embassy REIT raises Rs 1200 crore debt to acquire prime commercial asset in Chennai
Embassy REIT secured a Rs 1200 crore debt from a nationalised bank to purchase a 5 mn sq ft commercial asset in Chennai, expanding into a new growth market. The acquisition was funded through debt at 8.05% and internal accruals. The property has a high occupancy rate and will enhance Embassy REIT's commercial portfolio significantly.
India Inc doubles down on getting the gender mix right
Naina Lal Kidwai, chairperson of Rothschild & Co, who is also on the board of directors of Biocon and UPL, said one of the big factors fuelling this change is ESG reporting. Companies, especially the larger ones, are seeking ratings from global firms like Moody’s where one of the questions being asked is around diversity and inclusion. Indian companies also need to disclose Business Responsibility and Sustainability reporting besides adhering to integrated reporting where ESG etc, is being integrated into annual reports.
IRDAI approves appointment of Sandeep Batra as ICICI Prudential Board chairman
The Insurance Regulatory and Development Authority of India (IRDAI) has approved Sandeep Batra as Chairman of ICICI Prudential's Board of Directors, effective June 30, 2024. Batra, a Chartered Accountant and Company Secretary, has served as Executive Director, CFO, and Group Compliance Officer at ICICI Prudential.
JPMorgan to grow India headcount by 5%-7% for next few years, senior exec says
According to a senior executive, JPMorgan Chase intends to increase its workforce in India by 5%-7% annually over the coming years. This move comes as the Wall Street giant intensifies its focus on one of the most competitive talent markets worldwide to bolster its support for international operations. Currently, the New York-based bank employs approximately 55,000 individuals across five Indian cities, constituting about a fifth of its global workforce.
MNCs now offer best salary package to seasoned professionals to scale up their GCCs in India
Industry leaders report that multinational corporations are offering substantial compensation packages to recruit experienced professionals for their global capability centers (GCCs) in India. Over the past two years, there has been a noticeable increase in GCCs offering annual salaries ranging from Rs 3-6 crore to specialized leadership talent.
Tata Digital’s new team; Pine Labs’ India redux
Tata Digital chief executive Naveen Tahilyani has restructured the leadership team for the Neu super app. This scoop and more in today’s ETtech Top 5.
Take these 6 steps to deliver results consistently in your job and career
The only skill you need to charge up your job and career is the ability to deliver results consistently. Devashish Chakravarty explains how to achieve this.
Flexible workspace provider The Executive Centre plans to add 3 lakh sq ft in India in 2024
The Executive Centre (TEC) plans to expand its India footprint by 300,000 sq ft in 2024, amid strong demand. Despite challenges in securing Grade A buildings, TEC achieved record global revenue of USD 315 million, with India contributing significantly to adjusted EBITDA. TEC aims for 10-15% YoY revenue growth in FY 2024-25.
DP World picks up 1.5 lakh sq ft office space in Navi Mumbai to set up GCC
DP World leases 150,000 sq ft office space in Navi Mumbai's Aurum Q Parc tower for its global capability centre. The deal involves 5% annual rental escalation, totaling Rs 65 crore. Key tenants include ICICI Bank, Mizuho Bank, Lloyds Register, and Axis Securities.
The Executive Centre announces change in leadership for South Asia, Middle East
Rajat Kapur to be MD for North India, UAE and Saudi Arabia, while Manish Khedia to take charge of South India, West India and Sri Lanka
Embassy REIT to acquire Splendid TechZone asset in Chennai
Embassy Office Parks REIT has agreed to acquire Embassy Splendid TechZone, a Grade-A business park, from Embassy Sponsor, for an Enterprise Value of Rs 1,269 crore. This acquisition marks Embassy REIT’s debut in Chennai, a thriving office market in India. T
NBCC sold 480,000 sq ft for Rs 1905 crore in World Trade Centre
NBCC has sold 480,000 sqft of commercial space in the World Trade Centre project at Nauroji Nagar for Rs 1905 crore. Major organizations like Power Finance Corporation Limited, Security Printing and Minting Corporation of India Limited, and Solar Energy Corporation of India Limited bought the space during an e-auction. The project, which includes 12 towers with 10 floors, is being developed near major establishments, recreational areas, and transportation hubs.
India's compute infrastructure deficit hinders AI potential: Nvidia executive
There is an opportunity for India to become the ‘AI (artificial intelligence) factory of the world' as more and more infrastructure becomes available in the country, said Vishal Dhupar.
NBCC sold 200,000 sq ft for Rs 830 crore in south Delhi
NBCC sold 200,000 sq ft of commercial space worth Rs 830 crore in the World Trade Centre project at Nauroji Nagar. Buyers include NBCC, Oil India Limited, and Hamdard Laboratories. 150,000 sq ft sold to PSU entities, with a total of 6 successful bidders. The project aims for completion by March 2024.
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