GAP
Strong ER&D demand helps IT buck overall soft hiring trend
India's $250 billion IT services industry is facing sluggish hiring, but a bright spot is emerging in Engineering, Research & Development (ER&D). Demand for ER&D services is surging, driving a 15% increase in recruitment for these roles. Staffing firms report that tech companies are ramping up ER&D hiring to stay competitive in the global market.
Viability gap funding set to boost offshore wind energy space: Crisil
The government's outlay, announced on June 19, includes Rs 6,853 crore for the installation and commissioning of 1 GW of offshore wind energy projects of 500 MW each off the coast of Gujarat and Tamil Nadu. It also has Rs 600 crore for augmentation of two ports to meet the logistics requirements for offshore wind energy projects farms and encourage developers to enter this space.
View: Gender diversity needs work
This year, 797 women candidates contested the general elections, constituting 9.6% of the total 8,337 candidates. Only 74 of them won a seat in the 18th Lok Sabha - four fewer than the number of women in the 17th Lok Sabha. This comes less than a year after the passage of the Women's Reservation Bill, which reserves one-third of seats in Lok Sabha and assemblies for women.
RBI urges banks to address credit gaps for underserved sectors
Despite India's progress in banking access, micro and small business units, marginal farmers, and self-help group members still lack institutional credit and comprehensive financial services, as highlighted by the Reserve Bank of India.
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.
Cabinet givs nod to VGF scheme for offshore wind energy with Rs 7,453 crore outlay
The Union Cabinet approved a viability gap funding (VGF) scheme for offshore wind energy projects with a total allocation of Rs 7,453 crore. This includes Rs 6,853 crore for installing and commissioning 1 GW of offshore wind projects, split into 500 MW each off Gujarat and Tamil Nadu coasts. Additionally, Rs 600 crore is earmarked for upgrading two ports to support logistics for these projects.
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It's time for GoI to expose biased global rankings & create honest indices in India
India's falling rankings in global indices, such as the Global Gender Gap index and Corruption Perceptions Index, raise concerns despite its rapid progress in digitalisation. The country's low rankings in various global indices, including the UN's e-Government Development Index and International Telecommunication Union's ICT Development Index, highlight a disconnect between its economic growth and global recognition.
Hospitality industry faces huge talent crunch; to add a million jobs in next few years, say experts
The surge in tourism post the pandemic has catalysed an unprecedented increase in hospitality hiring, particularly in entry-level apprenticeship and trainee positions, Randstad India said, adding that the sector has witnessed a remarkable growth of more than 200 per cent in apprentice and trainee hires over the last two years. According to industry reports, the hospitality industry is currently one of the biggest employment generators with the formal sector offering jobs to over 40-50 lakh people, while for the informal sector, it is difficult to give a number, but it is huge.
Pay gap shrinks: Will BTech grads stay MBA course?
A Deloitte survey revealed a significant narrowing of starting salaries between MBA and BTech graduates in India. The pay gap has reduced to 57% in 2024 from 102% in 2021, potentially impacting the appeal of costly management courses for BTech graduates.
What's stopping TCS from filling 80,000 open positions?
TCS is facing a challenge with 80,000 open positions due to a skills gap. Amar Shetye, global operations head of TCS's RMG, highlighted the mismatch between employee skills and required roles.
India Inc makes a play for equality: L&T and Amazon lead the way with all-women teams in engineering and delivery
Engineering giant L&T has established an all-women team at Tata Steel's mining site in Odisha, handling large machinery repairs, inspired by a successful pilot. Amazon, which initiated all-women virtual customer service in 2020, now operates nine all-women delivery stations in various locations. Companies like Shell, KFC, and Dr. Reddy's are also creating all-women teams in various sectors, boosting productivity, reducing attrition, and attracting female talent. These initiatives aim to address the gender gap and promote inclusive practices across industries.
India ranks 129th on Global Gender Gap index, Iceland on top: WEF
India dropped to 129th place in the World Economic Forum's Global Gender Gap Index 2024, while Iceland retained the top spot. India ranks fifth in South Asia, trailing Bangladesh, Nepal, Sri Lanka, and Bhutan, with Pakistan at the bottom. Despite progress in economic participation and educational enrolment, India's political empowerment and representation of women remain low. Globally, the gender gap will take 134 years to close at the current rate.
Why breaks are important to work hard and achieve success, of both employees and organisations
Aditya Narayan Mishra, Managing Director and CEO of CIEL HR Services, emphasizes the importance of breaks and holidays for workplace respect and gratitude. Somdutta Singh, Founder and CEO of Assiduus Global Inc, highlights the role of breaks in preventing burnouts and promoting overall well-being.
More women employees break free from 9-5 cycle, hustle for gig work
The number of female professionals opting for freelance roles surged, with a 300% increase in female consultants in India in FY24 over FY22, as per data from Flexing It shared exclusively with ET. In FY24, global organizations increasingly looked to India for high-quality talent at lower costs, taking advantage of the country's robust post-pandemic remote work practices.
US trade gap widens to largest in 18 months
The US trade deficit in April expanded slightly less than expected, reaching $74.6 billion, the widest since late 2022, as imports outpaced exports. The deficit grew from March's $68.6 billion. Despite the central bank's interest rate hikes, US consumption remained strong, supporting imports, while concerns arose over export growth amid weaker global demand. Import growth was driven by automotive vehicles, while goods exports increased modestly, with a notable decline in the goods deficit with China.
India, UK begin talks on recognising and mapping skill gaps
India is discussing skill mapping and mutual recognition of skills with the UK to enhance job opportunities for its workforce. The focus is on linking the NCS portal with the UK job portal and facilitating worker exchange in labour-intensive sectors under the MMPA.
From savings to wealth: A guide to strategic methods for sustainable wealth creation in India
India is facing a retirement crisis with 80% concerned about savings sufficiency. The India Retirement Index at 44 highlights the gap. Jefferies' findings reveal investment habits, and StockGro addresses financial literacy and investment education needs.
Global equality champion Iceland set to elect woman as president
Iceland is set to elect a woman as president for the second time. Two women, Katrin Jakobsdottir and Halla Tomasdottir, are leading in the polls to succeed Gudni Th Johannesson.
Mall developers see opportunity in tier 2 cities
Brands include H&M, Marks & Spencer, GAP and Tasva set up shop in cities like Indore, Mangalore, Patna, Ranchi, Mysore, and Coimbatore, according to data from real estate consultancy CBRE.
PSU bank stocks: 10 multibaggers in 5 years of Modi government
PSU bank stocks have soared during Modi's second term, with Indian Overseas Bank leading at 472% returns. Despite this, they trade at a discount, making them potential outperformers. CLSA identifies SBI, Canara Bank, and Bank of Baroda as Modi stocks poised for growth.
Gap surges 22% as apparel maker's turnaround strategy starts to pay off
Shares of Gap climbed as much as 22% on Friday after the apparel retailer lifted its full-year sales forecast signaling that its turnaround strategy of bringing in newer styles is starting to work.
Percentage of women in senior leadership roles increases to 18% in 2023 from 16% in 2016: Report
The report by LinkedIn and The Quantum Hub highlights that while there has been an increase in women joining the workforce, leadership positions still lack gender parity. The representation of women across the workforce rose to 26.8% in 2024, but senior leadership roles only account for 18.3%, showing a decline from the previous year. Industries like education and government administration have higher female leadership representation, while sectors like construction and utilities lag behind.
XX chromosome factor: Women voters could rewrite India's polity
It will be a transformative moment in the social fabric of India, inspired by growing empowerment of women. Over the last decade, a range of government initiatives, both at national and state levels, have empowered women like never before. As a result, political parties can no longer take this cohort, accounting for half of the 970 mn electorate, for granted.
Global capability centres seek to increase female representation in tech roles
Data from Quess Corp indicates that the presence of women in global capability centres (GCCs) has slightly increased to 30% in FY24 from 26.6% in FY20. However, there remains a significant gap in women's representation in mid and senior-level roles, leading to talent shortages. A report by Pure Storage and Zinnov reveals that only 6.7% of women hold executive positions in GCCs, with even lower representation at the senior level (15.7%).
How Jaipur-based AU Small Finance Bank plans to plug a $400 billion credit gap
India’s largest small finance bank has recently bulked up and is now looking to utilise its heft to increase its presence in MSME lending. How successful would it be, is the billion-dollar question.
Gotta fix those inequality gaps
Since 1947, India has experienced considerable economic expansion, yet the advantages of this growth have not been evenly spread. The era of economic liberalization brought forth fresh avenues and prosperity, but it also contributed to a surge in inequality, a trend further magnified by recent economic upheavals, such as the pandemic. In 1967-68, the top 10% of the population accounted for 36.49% of the total national income.
Compensation gap between private & public sector widens in FY23
Total compensation of employees working with private corporations increased to 13.5% of the GDP in FY23 from 12.8% in the previous year while households, which largely represent the informal sector, saw their wages rise to the highest level in nine years to 8.5% of the GDP in FY23 from 8.4% in FY22.
ETMarkets Fund Manager Talk: PSU banks trading at 40-50% discount to pvt banks, can outperform: Hardick Bora of Union Mutual Fund
Hardick Bora discusses the state of the PSU banks versus the private banks, Nifty 50 Index, Fair Value Spectrum, small and midcap funds, and asset allocation strategy for moderate risk profiles. Bora says: "An election outcome with continuity of the current administration may strengthen the sentiments of local as well foreign investors."
VC funding for women-led startups declined in 2023: report
A new report reveals a decline in VC funding for women-led businesses in India. According to WinPe, a non-profit organisation focused on gender diversity in private equity, the share of funding going to female founders dropped to just 9.3% in 2023, compared to 14.7% in 2021.
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