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Green Economy Can Create Millions Of Jobs The fast-growing green energy sector could create a million jobs in the next few years. Indian business schools need to offer MBA's in green economy, said Santha Sheela Nair, vice-chairman Tamil Nadu State Planning Commission. A green job can be a white- or blue-collared role in any sector: agriculture, manufacturing, research and development, administrative and service activities such as IT, finance, teaching and so on. Tamil Nadu is on a mission to promote green jobs that help protect ecosystems and biodiversity, reduce energy consumption, de-carbonize the economy and minimize waste production."The idea is that a new age of green jobs will allow India to make the much-needed swift transition into a low-carbon economy, while also pulling millions out of poverty through job creation," Nair said.
Source : 26-09-11 The Hindu Compiled by Amresh Anjan
Indian Firms Employ Tens Of Thousands Of Americans: US Official A top US official has acknowledged that Indian companies employ tens of thousands of Americans. This was announced by the Deputy Secretary of State, Bill Burns in an event organized jointly by the Federation of Indian Chambers of Commerce and Industry and the Brookings Institution in Washington. India's direct investment in the U.S. has grown by an average of 33 percent each year since 2005. It had increased from a negligible $96 million to over $3.3 billion in the past decade, Mr. Burns said. India-U.S. trade has more than doubled over the past decade.Pointing to mutual benefits, Mr. Burns noted that the Tata Steel Ohio plant provides jobs there while Boeing uses engineers in Bangalore to design 787s whose parts are manufactured across the U.S.
Source : 28-09-11 Deccan Herald Compiled by Amresh Anjan
Huawei Launches Enterprise Biz Unit In India, To Hire 400 Telecom equipment provider, Huawei, launched its enterprise business unit in India, for which it plans to hire 400 employees by the end of 2012.The company's enterprise business is focused on providing solutions for IP, communications and technology and IT businesses and services, China—based Huawei said in a statement."The company is expected to clock $15 billion revenue (from its enterprise business worldwide) by 2015," Huawei President Enterprise Business, Mr Eric Yu, said at the launch event.The company plans to hire 200 people by the end of this year and 200 more by the end of 2012, taking the strength of its prospective India workforce to 400.As a part of its enterprise business expansion plans, the company will focus on providing information and communication technology solutions for sectors such as transport, energy, telecom and finance, among others, the company said.The company also unveiled its high definition telepresence business system for the Indian market. Source : 28-09-11 Hindu Business Line Compiled by Amresh Anjan
Merrill Tech To Expand Footprint Legal and financial services company Merrill Technology Services is looking to expand its footprint in India with an eye on tier-II locations. And Coimbatore appears to have been the ideal destination for establishment of its facility. The company has inaugurated its third facility in India at the Tidel Park here by taking up 18000 sq ft of space.(The other two facilities are at Chennai in the Olympia Technology Park and at VBC Solitaire, T Nagar).It is looking to hire around 300 non-IT focused candidates with good communication skills during the first year and double the headcount by the end of the second year.
Source : 28-09-11 Hindu Business Line Compiled by Amresh Anjan
Smes Explore New Frontiers To Beat Slump Rising wages and the slowdown in the U.S. and Europe are prompting small and medium enterprises (SMEs) to rework their strategies. Garment and apparel exporters have outsourced their manufacturing to Bangladesh where wages are 25 percent to 30 percent below Tirupur and Ludhiana, India's garment and apparel export hubs. Kolkata-based Hindusthan Lace Manufacturing Corp. says wages have risen 30 percent to 50 percent due to inflation and tough competition, but it has been able to hike prices only by 15 percent. It is now looking to resume exports to Asian and African markets."SMEs are looking to raise funds from European banks at cheaper rates, find partners or purchase companies which take them closer to their customers," says Monish Chatrath of Delhi-based Mazars, which advises SMEs.
Source : 29-09-11 Financial Express Compiled by Amresh Anjan
Nokia To Cut 3,500 Jobs Worldwide; To Shut Down Romania Factory World's largest mobile phone maker Nokia will slash another 3,500 jobs worldwide as part of drastic restructuring efforts that includes shuttering manufacturing facility in Romania. Battling tough business conditions, Nokia's latest move would be in addition to restructuring plans unveiled in April, that would affect as many as 7,000 jobs globally. Nokia announced reductions in manufacturing, the Location & Commerce business and supporting functions. Among others, these plans would see shutting down of manufacturing facility in Cluj, Romania by the end of this year.
Source : 29-09-11 Zee News Compiled by Amresh Anjan
Ford May Add 10,000 Jobs Ford is discussing adding as many as 10,000 jobs in the United States in negotiations with the United Auto Workers (UAW) union on a new four-year contract, according to three people familiar with the talks. The job-creation discussion is part of high-level negotiations between Ford and UAW president Bob King over wages, benefits, and employment gains in the new contract and is still subject to change, said the people, who asked not to be identified revealing internal deliberations. As many as 4,000 of those jobs may come from Ford shifting production of the Fusion midsize sedan to the US from Mexico, one of the people said.
Source : 29-09-11 Hindustan Times Compiled by Amresh Anjan
Temasek India Head Manish Kejriwal Steps Down To Start Fund Singapore state investor Temasek Holdings said that its India head, Manish Kejriwal, has decided to step down to explore the creation of a new fund in India, the latest in a series of changes in the investment firm's management. The fund will not be capitalized by Temasek, a source familiar with the matter told Reuters. Mr. Kejriwal, the son-in-law of Rahul Bajaj, chairman of Bajaj Auto Ltd, is teaming up with Sunish Sharma, managing director of General Atlantic, to start a private equity fund, trade publication VCCircle reported
Source : 30-09-11 Moneycontrol.com Compiled by Amresh Anjan
Air India Board Caps COO Salary At Rs 1 Crore Cash-strapped Air India (AI) seems to have learnt its lessons the hard way. The airline board has fixed a salary cap of Rs 1 crore for its new chief operating officer (COO). The airline appears to be cautious after last year's goof-up when it hired four top executives for Rs 6-7 crore who either left or were sacked within months, leaving the airline's turnaround plan in disarray. Gustav Baldauf, a foreigner, was appointed as COO for a package of Rs 3.1 crore. A COO for AI Express and chief of training were hired for around R1.5 crore each.
Source : 26-09-11 Hindustan Times Compiled by Amresh Anjan
Job Crisis May Lead To 40M Shortfall In G-20 The current low employment growth of 0.8 percent would lead to a job shortfall of 40 million in the Group of Twenty (G-20) nations by the end of next year. The warning came in a joint statement released at the G-20 labour ministers' conference in Paris.Around 20 million jobs were still missing in the G-20 countries from before the pre-crisis period. To attain the pre-crisis rate by 2015 required an annual growth rate of at least 1.3 per cent in employment.India urged the global community to take adequate steps to stem the persisting job crisis. Labour and Employment Minister Mallikarjun Kharge highlighted the success of India's public employment policies in this regard. India had not only maintained employment levels during recession but also succeeded in reducing unemployment from 8.3 percent in 2004-05 to 6.6 percent in 2009-10.
Source : 27-09-11 Financial Express Compiled by Amresh Anjan
Piramal Names Head Of NBFC The Ajay Piramal group has appointed Sudha Ravi as head of its non-banking financial company (NBFC) PHL Finance. Previously, Ms. Ravi managed the Washington operations of State Bank of India.
Source : 27-09-11 Financial Chronicle Compiled by Amresh Anjan
Capgemini Hiring A Thousand A Month With the current market demand and business needs, Capgemini is recruiting close to 1,000 employees every month, Rajesh Padmanabhan, HR head of Capgemini, said. The global company for IT, business consulting and outsourcing services employs 36,000 in its delivery and innovation centres in seven cities across India. It has a global headcount of 115,000.Following its philosophy of "People matter, results count," Capgemini hires a mix of fresh graduates and lateral joinees, Mr. Padmanabhan said. Capgemini, based in France, is an equal-opportunity employer with a woman at the helm of its India business. Close to 25 percent of the organisation consists of women.
Source : 26-09-11 Hindustan Times Compiled by Amresh Anjan
HP Names Meg Whitman CEO Hewlett-Packard Co named former eBay Inc chief executive Meg Whitman its president and CEO, replacing the harshly criticised Leo Apotheker in a bid to restore investor confidence in the iconic Silicon Valley company.The decision was made without a formal CEO search and piled renewed criticism on the board, which investors have blamed — at least in part — for the storied company's recent missteps.Chairman Ray Lane, who becomes executive chairman with a mandate to help Mr. Whitman run a sprawling $120-billion empire with over 3,00,000 employees, tried to assure disillusioned investors by saying HP is making a fresh start with a new CEO and — crucially — a virtually revamped board of directors.
Source : 23-09-11 Business Standard Compiled by Amresh Anjan
Google India To Hire More Google plans to step up recruitment after securing special promotional rights for Shahrukh Khan's Ra.One. Google has tied up with Red Chillies Entertainment, producer of the film, and will release exclusive content for the film via YouTube. Google India CEO Rajan Anandan said he expected more hiring ahead. Meanwhile, the company is beefing up its four commercial centres in Bangalore, Hyderabad, Delhi and Mumbai. Hiring is being done across business units, especially for YouTube."We want to enable the Internet ecosystem in India to go from 100 million users today to 300 million users by 2014. YouTube will play a big role in this," Mr. Anandan said.Google currently has 2,000 employees across various centres in India.
Source : 26-09-11 Hindustan Times Compiled by Amresh Anjan
Interglobe Tech To Set Up New Centre In China IT and BPO services provider InterGlobe Technologies is planning to open a delivery centre in China. The company is evaluating Dalian and Guangzhou as possible locations for the 300-500-seat facility, expected to be operational in six months, said CEO Vipul Doshi. The decision was prompted by customers who wanted back-office support for China and Japan. InterGlobe has at least three customers which want to be serviced from that region.The back-office market in Greater China, which includes Taiwan and Hong Kong, will grow faster than India in the next five years, according to a report from research firm Ovum. While the China BPO market will grow at 16.1 percent, India and South Korea will grow at 15.7 percent and 14.6 percent, respectively. InterGlobe is also considering setting up a centre in South America and one in the U.S.
Source : 26-09-11 Hindu Business Line Compiled by Amresh Anjan
Ajay Marwaha Is EVP And Head, Trading In Treasury Dept Of HDFC Bank HDFC Bank, the second largest private sector bank in the country, has appointed Mr Ajay Marwaha EVP and Head, Trading, in the Treasury Department. Mr. Marwaha will be in charge of interbank foreign exchange and bullion desk, interest rate trading, inter-bank derivatives, institutional sales and overseas business (Treasury). He will report to Mr. Ashish Parthasarthy, Treasurer, HDFC Bank. Mr. Marwaha is an MBA from Jamnalal Bajaj Institute of Management Studies and holds a Bachelor of Engineering degree from Mumbai University.
Source : 27-09-11 Hindu Business Line Compiled by Amresh Anjan
GM Workers Eye New Union Contract Soon Factory workers at General Motors are likely to approve a new four year contract with the company. Negotiators for GM and the United Auto Workers union agreed to a tentative contract on September 16. Most of GM's 48500 factory workers won't get annual pay rises under the contract. But, they will get $5000 signing bonuses and profit sharing cheques, along with other payments.
Source : 29-09-11 Hindustan Times Compiled by Amresh Anjan
Economic Slowdown In The West To Impact Work Opportunities: IIFT The Indian Institute of Foreign Trade (IIFT) is apprehensive about the deepening slowdown in Western markets having an impact on the domestic jobs market, even though requests from domestic companies for campus interviews at the institute have risen so far this year. The looming slowdown may prevent companies from expansion and launching more products, which would in turn shrink the jobs market, IIFT Director KT Chacko said, adding that most B-school students were not looking for working abroad. Last year, only 15 per cent of IFFT students were hired by foreign companies to work abroad, he said, adding, "Moreover, nobody today wants to work overseas."
Source : 11-09-11 Hindustan Times Compiled by Amresh Anjan
Private Sector Asked To Help Meet Shortage Of Trainers Dearth of skilled trainers is hampering the government's plan to generate 500 million skilled persons in the country by 2022 through public-private partnerships (PPP).Sharda Prasad, director general of employment and training, Labour Ministry, said more trainers were needed to meet the target of 40 million skilled persons annually. He was addressing the fourth Global Skills Summit hosted jointly by the ministry and the Federation of Indian Chambers of Commerce and Industry (FICCI).The minister called upon the private sector to help in providing trainers to meet the target. The ministry is setting up 6,500 skill institutes under the PPP model. A paper by FICCI-Ernst & Young says 75 percent of new job opportunities will be skills-based. It is, therefore, essential for India to develop a qualification framework linking formal education and vocational training, it said. S
ource : 15-09-11 Hindu Business Line Compiled by Amresh Anjan
Samsung Hires 1,500 At Noida Facility Samsung Electronics has tripled its mobile phone production capacity in India with an investment of approximately Rs. 315 crore in its manufacturing plant in Noida. The company has also hired 1,500 people to work at the plant; taking the total number at the facility to 4,000.The Korean Electronics Company is committed to strengthening its presence in the country through its mobile business, increased manufacturing, operations, research and development. Prior to the new investment, the production capacity of the Noida plant was 12 million handsets per year. Its capacity is now 36 million handsets per annum. India is one of the top three mobile markets for Samsung. Business has grown steadily and it is now the second largest player in India in terms of the number of handsets sold. Samsung Electronics has tripled its mobile phone production capacity in India with an investment of approximately Rs. 315 crore in its manufacturing plant in Noida. The company has also hired 1,500 people to work at the plant; taking the total number at the facility to 4,000.The Korean Electronics Company is committed to strengthening its presence in the country through its mobile business, increased manufacturing, operations, research and development. Prior to the new investment, the production capacity of the Noida plant was 12 million handsets per year. Its capacity is now 36 million handsets per annum. India is one of the top three mobile markets for Samsung. Business has grown steadily and it is now the second largest player in India in terms of the number of handsets sold.
Source : 18-09-11 Financial Express Compiled by Amresh Anjan
JLR's new Engine Plant To Create 2000 Jobs in UK Jaguar Land Rover, the Indian auto giant Tata Motors' UK based subsidiary, is all set to establish a new engine plant in its base market UK with an investment of 400 million pounds. The new JLR engine plant will be established at i54 Business Park in Wolverhampton, midlands (UK), and is expected to create about 2,000 positions in the UK. The decision of setting-up a new engine plant in UK is a part of company's plans of having a greater control over the production of engines in the rapidly growing Asian markets. According to reports, besides the UK market, the company is also considering setting -up a new engine plant in the Indian market.
Source : 19-09-11 Cartradeindia.com Compiled by Amresh Anjan
Recruitments Up 13% In Ahmedabad With fear of global turmoil hitting any time, freshers in Ahmedabad are worried and seeking new jobs eagerly. But, here is good news for them. Compared to August 2010, the recruitments in August 2011 have increased by 13% in Ahmedabad. IT sector has contributed highest in recruitment in last one year. According to a report on 'Hiring Activity in India' by Naukri.com, recruitment in Ahmedabad grew by 13% on a year-on-year basis. The Naukri Job Speak Index of Ahmedabad was around 961 points in August 2010 which grew to 1,086 in August 2011, showing a rise of 13% rise in hiring activity in city. The report says that hiring activity for the IT sector, which contributes approximately 12% jobs in Ahmedabad grew by 8% in August 2011 when compared to July 11. While, both Pharmaceuticals and banking sectors saw 3% upward movement in their indices in August 2011 during the same period
Source : 18-09-11 DNA Compiled by Amresh Anjan
Nokia Denies Paying Low Wages In India Nokia has rebutted claims by a human rights organization that the mobile phone maker pays below the living wage at its factory in India. Finnwatch, the human rights group, said Nokia paid contract workers about €70 per month at its Chennai factory. The amount is a quarter above the legal minimum wage but less than the minimum €127 per month for India. Finnwatch also pointed to the time-limited contracts that the workforce was kept on, and the long duration of the low-paid trainee contracts. Nokia disagreed, saying its workers, including trainees, are the highest paid in Chennai, and at a level well above the local minimum wage. The company said the Finnwatch report, which uses salaries in New Delhi as a benchmark, is misleading. The human rights group should include key benefits such as occupational healthcare, meals, day care and transportation in its assessment
Source : 15-09-11 Financial Express Compiled by Amresh Anjan
Demand For B-School Exec Courses Growing B-schools have received an increasing number of requests for short-term management programmes from companies seeking ways to beat the slowdown. The slump in the U.S. economy has forced companies to re-evaluate their strategies and prepare senior executives for these scenarios. Requests for short-term management development programmes (MDPs) on themes such as measuring risks, managing complexities, employee retention or cost cutting measures have been increasing. Firms are increasingly looking to enhance the skills of their personnel in areas such as decision sciences and strategic management."B-schools, on their part, are trying to directly or indirectly answer the questions raised by the current economic scenario," said Chaitanya Kalipatnapu, director of Eruditus, which offers INSEAD's MDP in India. In 2008, the Indian Institute of Management, Ahmedabad, had introduced courses on handling financial crises and the downturn
Source : 15-09-11 Business Standard Compiled by Amresh Anjan
Pervez Ahmed Quits Max Healthcare Max Healthcare said its CEO and Managing Director Pervez Ahmed stepped down from the position. In a statement announcing the departure of Dr. Ahmed, the company said it had formed an interim team to take care of day-to-day operations till a new structure was in place."Max Healthcare has announced the formation of an interim functional task-force to conduct day-to-day operations and manage transition till the new leadership structure is appointed," the company said in a statement. The task force would comprise clinical and administrative leaders and will be co-chaired by group Chairman Analjit Singh and Max India Managing Director Rahul Khosla, it said.
Source : 13-09-11 Business Standard Compiled by Amresh Anjan
Hiring By IT Companies Shows No Sign Of Slowdown The hiring trend in the local information technology (IT) sector over the past few months has defied the slowdown threatening to play out if the macro-economic situation in the US and Europe deteriorates further. Typically, a reduction in technology staffing in the developed markets precedes a slowdown in hiring in offshore destinations like India. But this time, the industry is not emanating any such signal though experts expect the economic health of Europe and the US to worsen further. Tech hiring growth in the Indian and US markets in August testifies to this. The month saw strong IT hiring at 7% in the local market compared with July. Even the technology hiring in the US and Europe remained stable during the same period. At the start of the year, the industry was expecting hiring in the current year to climb back to 2006-2007 levels when 5 lakh new jobs were created. That outlook has now been revised downwards to over 3 lakh based on the expectation of projects being closed this year. Source : 13-09-11 DNA Compiled by Amresh Anjan
Report Pitches For 'Truly Independent' Directors A report brought out by KPMG and the Confederation of Indian Industry has stressed on making independent directors more effective and truly independent. Apart from that, it is important to address their role in developing an institution and a pool of personnel with varied skills, the report said. The report, "Corporate governance: Value beyond compliance", was released by the Corporate Affairs Minister Veerappa Moily. Touching upon CEO succession planning, the report called for a large-scale debate and more rigorous processes than the ones currently being followed, especially in owner-managed businesses. Government interference was undermining the autonomy of PSUs. Restrictive and outdated labour laws made laying off employees and closing down businesses difficult. Around a third of the 249 PSUs reported a loss of $3.4 billon in FY11, the report added. Greater investor scrutiny could bring about substantial improvement in corporate governance, an area where India needs to catch up with the developed world, it noted.
Source : 13-09-11 Business Standard Compiled by Amresh Anjan
Infosys To Hire 50% Local Staff In Onsite Locations Infosys Ltd plans to reach the target of having 50% of its employees in onsite locations as the local residents by as early as next year. There has been political pressure, particularly in the US, to boost local employment. Given the high unemployment rates in the West, there is tremendous pressure on Indian IT outsourcing companies to not be perceived as only taking away Western jobs to lower cost destinations. Also, the other reason to boost local staff was the increasing number of visa rejections for Indian software engineers. Infosys has 27,000 employees onsite and the company plans to reach the 50% target by 2012-13. Out of the pool of onsite employees, around two-thirds are said to be in the US and the rest in other geographies like the UK, Continental Europe, China and West Asia.One of the major tasks for Infosys now is to set the agenda for choosing the right talent from each region.
Source : 14-09-11 MSN.com Compiled by Amresh Anjan
Capgemini To Boost India Headcount Capgemini is expanding in Kolkata and plans to double the number of employees there within two years. The Paris-based consulting and outsourcing firm added a new wing to its existing Rajarhat facility in the city with 750 seats. The company employs 1,700 in Kolkata and 36,000 nationally. It has started a campus recruitment drive for IT and BPO in the eastern region and Kolkata. It is looking to cover 20 colleges across Durgapur, Asansol, Hooghly, Berhampur, Shillong and Agartala. An incremental facility has also been planned for next year. "We intend to recruit around 400 people. Over two years, we could double our headcount in Calcutta. By the end of this year, it could touch 2,000," CEO of Capgemini India, Aruna Jayanthi said. "India could account for close to half of the company's global headcount" in the next two to three years, she added.
Source : 14-09-11 The Telegraph Compiled by Amresh Anjan
Attrition High In India Inc Even After 13% Salary Hike Pay hikes in the corporate sector have failed to arrest attrition that was an overall 18.6 percent annualised average. Companies offered an average salary increment of 12.97 percent to its employees across all levels this year, according to a compensation trends survey conducted by Deloitte India.For most companies, increments ranged between 10 percent and 19 percent, according to Mr. Thiruvengadam P, leader, human capital advisory services, Deloitte India.The study also found that voluntary exits, which had come down since 2008, made a comeback with more job opportunities in the market. Annualised attrition across sectors varied from 5 percent to 25 percent. Career advancement, personal reasons and compensation were all responsible for the trend, as per the study. Companies are offering "spot bonuses" to retain employees, said Kamal Karanth, managing director of Kelly Services India.
Source : 13-09-11 Financial Chronicle Compiled by Amresh Anjan
Change In Training Syllabus To Slow Hiring Of Agents Recruitment of insurance agents is likely to be hit as the life insurance industry shifts to a new syllabus and examination system from October 1. The cost of training agents for insurance companies is also expected to go up. "The regulator wants to professionalise the agents so that they understand consumer needs better," said RR Dash, zonal manager west, Tata AIG Life. New agents have to be trained under the new syllabus, he added. Hiring may slacken until the industry comes to terms with the nature and content of the programme, said Deepak Sood, CEO and managing director, Future Generali Life Insurance. Agency training institutes are concerned that training under the new syllabus will take longer. Insurance companies expressed reservations over the resultant higher costs they will have to bear.
Source : 13-09-11 Hindu Business Line Compiled by Amresh Anjan
India, U.K Tie Up For Skill Development The U.K. India Business Council (UKIBC) has joined hands with the British Deputy High Commission and the Federation of Indian Chambers of Commerce and Industry(FICCI) to strengthen Indo-U.K. cooperation in the skills and education sector. Around 46 British skills providers from 32 organisations visited Kolkata to explore opportunities and find business partners. UKIBC will also seek tie-ups with companies such as Hero Honda and Mahindra & Mahindra. Some areas for skill development are healthcare, retail, construction, manufacturing, travel and tourism and food processing, said Roy Newey, group board director, UKIBC. Separately, the government of West Bengal has sought technical assistance from the World Bank to layout a plan for skill development, which is expected in a few weeks. It has also collaborated with IL&FS Education & Services for job-linked skill training in retail sales and services and IT-enabled services.
Source : 12-09-11 Hindu Business Line Compiled by Amresh Anjan
Sonata Software Names CEO & MD Bangalore-Based IT Company Sonata Software Has Appointed Sanjay Viswanathan As CEO, Managing Director And Member Of The Board. He Joins From Reed Elsevier, Where He Was Chief Outsourcing And Offshoring Officer. Sonata's Vice-Chairman And Managing Director B Ramaswamy Has Been Named Chief Mentor. He Has Been With The Company For 24 Years.
Source : 14-09-11 Business Standard Compiled by Amresh Anjan
Shipping Veteran Named COO Of Fortis Healthcare Shipping industry veteran Eng Aik Meng was appointed chief operating officer of health-care firm Fortis Healthcare International on Monday.Fortis is the Singapore-based holding company of India's billionaire brothers Malvinder Mohan Singh and Shivinder Mohan Singh. Mr Eng, 41, will be responsible for developing the firm's business outside India, including operations, marketing and supply-chain management. Mr. Vishal Bali, the chief executive of Fortis Global Healthcare Holdings, said Mr. Eng's experience in building up global businesses would be 'invaluable as we continue to expand our integrated health-care delivery network across Asia and Australia'.
Source : 12-09-11 Strait Times Compiled by Amresh Anjan
HUL Plans To Raise Workforce By 1,000 Annually Hindustan Unilever (HUL) is planning to hire about 1,050 people each year for the next two to three years, according to a senior official. The company will continue to recruit 40 to 50 management trainees from management and technical schools, said Executive Director of Human Resources Leena Nair. The company recruits 700 to a thousand people in its factories and for sales. Around 20 mangers may be hired for sales and marketing and the rest distributed across all functions. There will be no change in the pay packages, Mr. Nair said. Commenting on the attrition levels in the industry, she said levels were high, in double digits. HUL's attrition rate was less than 5 percent. Maharashtra will see 1.4 million to 1.5 million jobs added in the next five to seven years, said Mr. Nair. She is also chairperson of the Confederation of Indian Industry in Maharashtra.
Source : 19-09-11 Financial Express Compiled by Amresh Anjan
Naukri Job Speak Index For Aug-11 Reports 14% Growth On Year On Year Basis The Naukri job speaks index for the past few month's shows that hiring activity has been more or less steady over a period of time. However, a yearly comparison indicates that the index has stabilized at an elevated level when compared to last year. Thus, when we compare recruitment levels of Aug-11 with the previous month, the index moved up marginally from 1055 in Jul-11 to 1087 in Aug-11. This indicates that the global recessionary fears are yet to affect the Indian recruitment market. "Hiring activity especially for multinational companies, are planned about two quarters in advance" said Hitesh Oberoi, Managing Director and CEO, Info Edge India. He further added "While it is possible that the slowdown in economic activity may lead to some firms lowering down their hiring pace, the reflection of the same on the overall hiring sentiment may be visible around mid October since hiring lags during any slowdown in economic indicators. Also the effect is felt only when the slowdown is expected to be long lasting " This month hiring a has been upbeat for both ITES and IT sectors where the index moved up by 19 % and 8% respectively in Aug-11 over Jul-11.
Source : 07-09-11 Indiainfoline.com Compiled by Amresh Anjan
IT Looks Beyond Engineering For Fresh Hires IT and BPO companies are recruiting graduates in any discipline for all lower-level jobs to cut costs. Meanwhile, engineering graduates are opting for further studies, especially MBA and MCA courses, for fear of ending up in call centres or BPOs.A clear shift in the hiring pattern has recently emerged, said a senior official at the Jawahar Knowledge Centre (JKC). There is less demand for engineering graduates than in the past. Graduates from other streams are being recruited for posts that require working under a team leader.While the practice is benefiting such graduates, companies recruiting them are benefiting as well. Salaries paid to non-engineering graduates are between Rs 1.5 lakh and Rs 2.5 lakh per annum for entry-level jobs. Tech graduates start at double the amount. Some who are eager to partake in the fee reimbursement scheme of the government are opting for MBA and MCA courses.
Source : 08-09-11 Deccan Chronicle Compiled by Amresh Anjan
Consulting, Finance Top Recruiters At IIM-A's Final Placements The Indian Institute of Management, Ahmedabad (IIM-A) published its audited placement data for its three full-time management programmes, the flagship Post Graduate Programme (PGP), the PGP in Agribusiness Management (PGP-ABM), and the PGP for Management Executives (PGPX).As per the placement data, audited by CRISIL under the Indian Placement Reporting Standards (IPRS), the highest domestic and international maximum earning potential (MEP) at IIM-A was pegged at Rs 37 lakhs and $ 135,643 (Rs approx.), respectively. Among sectors, finance saw the highest number of offers at 94 out of the total 304 offers accepted, followed by consulting (93), FMCG (36), IT (27), and manufacturing (25), among others.
Source : 08-09-11 Business Standard Compiled by Amresh Anjan
Experian Credit Info Appoints Mohan Jayaraman As MD Experian Credit Information Company of India Pvt Ltd, the first CICRA licensed credit bureau in India, announced the appointment of Mohan Jayaraman as Managing Director. He will be responsible for leading Experian's Indian Credit Bureau joint venture into its next growth phase by further accelerating the roll out of Experian's global products and services in India.Mr. Mohan takes over from Phil Nolan, who will take up the role of Managing Director of the recently established Experian Credit Bureau Joint Venture in Australia. Mohan Jayaraman joined Experian in November 2010 as the Chief Operating Officer. Prior to joining Experian, Mr. Mohan worked with ICICI Bank for eight years in various senior management roles. His most recent position was Joint General Manager and Head of Payment Solutions, Enterprise Analytics and Retail Structured Finance.
Source : 08-09-11 Business Standard Compiled by Amresh Anjan
ICICI Bank Goes Slow On Hiring, To Recruit 6,000 Staff In FY12 ICICI Bank, the country's largest private sector lender, appears to be going slow on its hiring plans for the current financial year, to keep a tight leash on operating expenses.The bank plans to recruit about 5,000-6,000 employees, mostly at the entry level, in the current financial year, its Managing Director and Chief Executive Officer Chanda Kochhar said today.The bank had increased its headcount by over 17,000 employees between June 30, 2010 and June 30, 2011 as it opened new branches and expanded operations across the country. As a result, operating expenses surged by 23 per cent while staff cost increased by 27 per cent year-on-year in the first three months of this financial year.The average salary increase in the bank has been 11 per cent this year. The bank aims to keep its cost to income ratio at 41 per cent and cost to asset ratio at 1.7 per cent in 2011-12 (April-March).
Source : 10-09-11 Business Standard Compiled by Amresh Anjan
IT/ITES Sectors To Hire 55,000 In Sept Quarter, Shows Survey Driven by growing dem¬and in both domestic and international fronts and a robust project pipeline, the Information Technology (I¬T)/IT enabled Services (IT¬eS) sector is expected to be one of the top hirers for the three months ending September 30.According to a employment trend survey by Ma Foi Randstad, for the six mon¬ths period between Ja¬nuary to June this year, this sector has added 91,100 jo¬bs app¬roximately and is pr¬ojected to add another 55,500 jobs by September end. The Ma Foi survey data paints a rosy picture after another survey by MyHirin¬gClub showed earlier that the recruitment by Indian IT firms witnessed a slowd¬own in the month of August, owing to the crisis in the US and Europe region. While the survey had stated that the hiring mood remains upbeat, recruitment tendering platform MyHiringClub had said that it might take 2-3 months for recruitment activities in the IT sector to gain moment¬um as the hiring activity saw a 49 per cent drop in the IT and ITeS sectors in August vis-a-vis the previous month.
Source : 05-09-11 Financial Chronicle Compiled by Amresh Anjan
Bank Of America Job Cuts May Hit 40,000 Officials of US financial giant Bank of America Corp have discussed slashing about 40,000 jobs under the first phase of a proposed restructuring exercise. "Bank of America Corp (BofA) officials have discussed eliminating roughly 40,000 positions during the first wave of restructuring" The Wall Street Journal reported. The numbers of job cuts are not final and could change. The restructuring would reduce the bank's workforce over a period of years, the report added.
Source : 09-09-11 Wall Street Journal Compiled by Amresh Anjan
Networking To Create 1 Crore Jobs By 2012 India will create one crore jobs for networking professionals by 2012 and 3.75 crore by 2020, according to some estimates. Computer networking is a fast-growing field, but the shortage of networking professionals is only growing, said Khawar Butt, Penta CCIE and president, Networkers Home. Engineering courses four years long cannot keep up with technology that changes every day. Hence, students lack the latest knowledge that is required, Mr. Butt said. However, short-term courses and certifications for network professionals can teach the basics quickly and allow more time for on-the-job experience. Frameboxx Animation, a telecom infrastructure training company, provides Cisco-certified training courses to address this challenge. Networking professionals can expect an annual salary of Rs 5 lakh to Rs 7 lakh. Industries which actively recruit networkers are telecom, banking and finance, hospitals, IT, government organisations, service providers, multinational and multi-site companies.
Source : 09-09-11 Pioneer Compiled by Amresh Anjan
India Ranks Low In Gender Diversity India ranked the lowest among the top six Asian economies in representation of women in the workforce at junior and middle levels. According to the Gender Diversity Benchmark for Asia 2011, the percentage of women employed in India was the lowest at 24.43 percent. China had the highest percentage of women representation at 49.79, followed by Malaysia with 47.35, Hong Kong 45.34 and Singapore at 43.29. Japan was the second lowest at 33.62 percent. The study highlighted gender biases in India, where social attitudes still favour the male as the dominant, educated earning member of the family with the female being the homemaker. The report surveyed women at different levels across 21 companies in these countries. Participants included Ernst & Young, Bank of America Merrill Lynch, Cisco Systems and Coca-Cola. Source : 07-09-11 Mint Compiled by Amresh Anjan
Toyota To Raise Headcount By 1,500 Toyota will hire 1,500 people for its Indian operations by next year as it enhances production. The Japanese car maker, which runs its operations in a joint venture with the Kirloskar Group, is investing Rs 1,650 crore to ramp up its production capacity by one lakh units.In addition to the 1,500 permanent employees, the company will also hire some contract workers, said Shekar Viswanathan, deputy managing director commercial at Toyota Kirloskar Motor (TKM). Toyota will recruit for various disciplines as the expansion programme gradually unfolds, he added. TKM currently has around 4,500 employees at its two facilities in Bangalore, of which 70 percent are permanent. It is expanding the combined manufacturing capacity of the units from 1.5 lakh units to 2.1 lakh units.
Source : 07-09-11 Hindu Business Line Compiled by Amresh Anjan
BPOs Step Up Internal Lateral Hiring BPOs such as Infosys BPO, WNS Global Services, Hinduja Global Solutions and Genpact are hiring laterals internally to provide more growth opportunities to employees.Earlier, they hired 90 percent laterals from outside. Now, they are filling 65 percent to 70 percent of the lateral positions from within the company, said Kamal Kamnath, managing director, Kelly Services.Infosys has set a goal of 70 percent of lateral hires from within the company, up from 55 percent in the past, according to Mr. Raghavendra K, vice-president and head of human resources. Recent initiatives such as domain-based universities have enabled companies to promote more people from within. Hinduja Global sources 85 percent of its laterals internally and looks outside for the remaining 12 percent to 15 percent positions. Genpact relies on strong training and a career path programme to fill 70 percent to 80 percent of its positions internally.
Source : 06-09-11 Financial Express Compiled by Amresh Anjan
Arvind Kapur Takes Over As President Of ACMA Arvind Kapur, Managing Director, Rico Auto Industries, has taken over as the President of the Auto Components Manufacturing Association (ACMA). Mr. Kapur takes over from Srivats Ram, Managing Director, Wheels India.
Source : 06-09-11 Hindu Business Line Compiled by Amresh Anjan
Intuit Appoints New Managing Director For India Intuit Inc. (Nasdaq: INTU) has appointed Nikhil Arora as Vice President and Managing Director of Intuit India. Intuit is a leading global developer of business and personal finance management solutions.Mr. Arora will drive the company's strategic growth in India and lead its regional go-to-market efforts for small business and consumer offerings. In this role, Arora will also be working closely with Vijay Anand, Vice President of Intuit's India Development Center, located in Bangalore.
Source : 06-09-11 Business Standard Compiled by Amresh Anjan
Mahindra Satyam Staff To Get 12-20% Pay Hike Mahindra Satyam has finally given the much-awaited salary hike of 12 percent to 20 percent to its employees. The company had deferred hikes in April and has finally sent letters to employees. All the eligible staff will get the increment with effect from October 1. Salary hikes had been deferred to reduce expenditure in the first quarter. The company promised to increase wages by 12 percent for offshore staff and 2.5 percent for onsite employees. Staff had been given the option of either low hike for nine months or higher increase for six months. They opted for the latter. Meanwhile, the company has deferred the date of joining for freshers. Around 5,000 students were given offer letters earlier this year.
Source : 05-09-11 Hindu Business Line Compiled by Amresh Anjan
PSA Peugeot To Create 5,000 Jobs With Its New Plant In Gujarat PSA Peugeot Citroen, the leading French car maker, which is all set to mark its re-entry into the Indian auto market with opening a new assembly plant in the state of Gujarat, will create as many as 5,000 jobs in the country. The company will be setting-up its factory in Sanand, Gujarat, with an investment of $928 million. The Sanand plant of the company will be spread over an area of 243 hectares, and will have a capacity to manufacture 170,000 vehicles per year. Initially, the company will have an engine and gearbox manufacturing facility at this plant and in about two years the company will start producing cars at the plant.
Source : 12-09-11 Cartradeindia.com Compiled by Amresh Anjan
HUL To Hire Over 1,000 People Annually For Next 2-3 Yrs Leading FMCG major Hindustan Unilever (HUL) will hire about 1,050 people each year for the next two to three years, a top official said."We routinely recruit about 40-50 management trainees from management schools and technical schools for our managerial ranks, and these numbers that will continue for the next two-three years", said the company's Executive Director Human Resources, Leena Nair. She added that there was no change in their hiring strategy and the company might hire 20 of the managerial rank recruits in sales and marketing, and the rest distributed across all functions.When asked about pay hikes, she said, "there is no change in the pay package from us this year, but we are one of the good paymasters at the campus and we will continue to do that."
Source : 09-09-11 Zee News Compiled by Amresh Anjan
LIC to Hire 1 lakh Agents in South Central Zone This Fiscal The south central zone (comprising Andhra Pradesh and Karnataka) of state-owned Life Insurance Corporation of India (LIC) will be recruiting 100,000 field workforce to give a push to its growth targets set for the current financial year. Speaking at an event to celebrate LIC's 55th anniversary, zonal manager AK Sahoo said the new recruits would take the total strength of LIC's agents in the zone to 300,000 and to 15 million on an all-India basis."The LIC agent attrition rate is currently at 15-20 per cent nationally as well as in the zone. This apart, there are a few agents who do not possess enough knowledge on the products, premium calculations and policy maturity information. We are putting in efforts to reduce attrition by organising hand-holding events and training programmes," he said.
Source : 05-09-11 Business Standard Compiled by Amresh Anjan
Rajendra Mehta Joins Zee Entertainment Enterprise Ltd As Executive VP – HR Rajendra Mehta has joined Zee Entertainment Enterprise Ltd (ZEEL) as Executive Vice President Human Resources. Mr. Mehta moves from Jindal ITF. With a career spanning 17 years in the industry, Mr. Mehta has worked with the Times Group in Print and Internet properties, RPG, Larson & Tubro. He started his career in 1996 in Mumbai with the RPG Group and Larson & Tubro and then moved to Delhi, where he has been for the last 7-8 years. Having worked with market leaders, Mr. Mehta felt that he "has the ability to be conceptually aware of what the media industry requires". His new role, he felt, would be enhanced by his "ability to relate with employees across levels and support". Source : 04-09-11 Exchange4media Compiled by Amresh Anjan
Tata Motors Group CEO Carl-Peter Forster Resigns Carl-Peter Forster, group chief executive officer (CEO) and managing director of Tata Motors Ltd, resigned owing to "unavoidable personal circumstances", the company said in a release. Mr. Forster, 57, who earlier headed General Motors Co.'s Europe operations, joined Tata Motors in February 2010. His mandate at Tata Motors included managing its global operations, including Jaguar Land Rover (JLR), which was acquired in June 2008.Prakash Telang, managing director of India operations, and Ralf Speth, CEO of JLR, will represent their respective units on the board.
Source : 11-09-11 Wall Street Journal Compiled by Amresh Anjan
Jobs in Tier 2 cities grows by 200% in July India's tier II towns have registered a job growth rate of over 200 per cent in July 2011 vis-à-vis corresponding month last year. This is despite the fear of a slowdown in services and export sectors, as smaller cities continued to create job opportunities. According to a recent study by Associated Chambers of Commerce and Industry of India (Assocham), 13,776 job opportunities came up in tier II cities as Chandigarh (2.3 per cent), Lucknow (1.1 per cent), Vadodara (0.9 per cent), Jaipur and Patna (0.8 per cent each) emerged on top. Surat, Guwahati and Indore registered 0.7 per cent share each in employment generation, says the Assocham Placement Report. It analysed trends in job openings in the wake of a recent slowdown in the manufacturing sector among 56 major Indian cities across 32 sectors from a sample of 1,10,000 job opportunities. Tier I cities emerged as the most lucrative employment destinations with a share of 76 per cent in total job creation. Tier II and Tier III cities acquired a meagre 12 per cent share each.
Source : 20-08-11 Business Standard Compiled by Amresh Anjan
Maruti Suzuki To Boost R&D staff 20% Maruti Suzuki India is planning to increase its R&D employee strength of 1,070 by over 20%. The headcount in the division will exceed 1,300 in 2011-12 as it seeks to become the hub of research activities for parent Suzuki. The R&D facility is being enhanced to develop a complete model in India. It is developing its engineering skills to cater to the Indian consumer, and establish itself as Suzuki's R&D centre outside Japan. Its Annual Reports said 102 people had been hired in 2010-11 for its R&D division. Maruti will develop new products indigenously, including those with alternative fuel options. As a result, expenditure on R&D will increase. The company had earlier said it would hire at least 2,300 people for its two new plants in Manesar over the next two years. Its workforce will expand by about 27% to nearly 11,000.
Source : 11-08-11 Financial Express Compiled by Amresh Anjan
Telecom sector provides one Crore Jobs : Study A study by PricewaterhouseCoopers (PwC) said the Indian telecom sector will give employment to around one crore people by 2012.The industry is expected to provide about 28 lakh direct jobs and some 70 lakh indirect jobs, according to the study commissioned by the Cellular Operators Association of India.The mobile telephony industry in India has seen unprecedented growth of more than 700%. From less than 10 lakh subscribers in 1998, the sector had more than 75.2 crore subscribers in 2010. The industry contributed nearly 2% to the GDP, the study said. Although the industry has grown by leaps and bounds, the task of providing access to mobile services at affordable rates in the hinterlands has not yet been achieved. Investment has shrunk and financial performance has weakened. It is time for more capital expenditure and innovation.
Source : 11-08-11 Financial Express Compiled by Amresh Anjan
HR software to measure productivity Software solutions firm InnovizeTech has developed a solution which estimates an employee's efforts. Called Sapience, it can measure productivity on a project, team or employee level. The software enables individuals to view their own data, improve their working patterns and optimise their work-life balance. Managers get a breakdown of the effort put in by their teams across various projects and activities, enabling them to identify bottlenecks in the delivery process. Sapience gives the exact time spent on PCs and can tell the user the time spent on each application. It can be installed at a company's data centres. Smaller firms can operate it from a cloud server managed by InnovizeTech. The company's co-founder Shirish Deodhar said Sapience had helped achieve self-driven gains of at least one extra work hour per day within the first 30-45 days. Source : 12-08-11 Business Standard Compiled by Amresh Anjan
Rohit Nandan Appointed As The New Air India Chairman Rohit Nandan recently took over as Chairman and Managing Director of Air India, replacing Arvind Jadhav, who had been holding the position since 2009. Mr. Nandan is the third Chairman of the airline in three years. Before taking charge at Air India, Mr. Nandan, a 1982 IAS officer from Uttar Pradesh, was a Joint Secretary to the Ministry of Civil Aviation. Meanwhile, the Government has expedited the process of appointing two more independent directors on the AI board.
Source : 15-08-11 Travelbizmonitor.com Compiled by Amresh Anjan
Pawan Ruia quits as Dunlop Head Pawan Ruia, has resigned as chairman and director of Dunlop India. Ruia had earlier given up a similar role in Jessop & Company, another group company. He will continue as Chairman of the Ruia Group.
Source : 12-08-11 Financial Chronicle Compiled by Amresh Anjan
India needs to generate 55m jobs by 2015: Crisil Research India will need to create at least 55 million additional jobs by 2015, which is double the number of jobs created during 2005-2010, a Crisil study said.The job creation will be needed to maintain the current ratio of employed people to total population at 39 per cent, said the study, which is based on recently released National Sample Survey Organisation data on employment.If we factor in the number of people retiring or losing their jobs by 2015, new job hires will have to exceed 55 million, the study said."Job creation has clearly not kept pace with GDP growth. The GDP growth increased to 8.6 per cent during 2005-10 from 6 per cent during 2000-05, but net addition to jobs remained flat at 27 million during the same period," said Dharmakirti Joshi, chief economist.
Source : 16-08-11 Financial Chronicle Compiled by Amresh Anjan
Convergys to add 1,000 jobs by December The BPO company, which offers relationship management services to clients in automotive, financial services, manufacturing and retail industries globally, has already added 1,500 jobs (net additions) in India so far this year."We are seeing demand from clients and a lot of that is concentrated toward India at this point. We grow in markets where our clients want us to be," said Mr Hanumant Talwar, Managing Director and Country Manager – India, Convergys. Mr Talwar said it was too early to "predict" the impact of the US debt crisis on demand for BPO services, but "it could have a positive spin-off for outsourcing." Organisations may have to bring down their costs and so they may tend to outsource more, he said. The company currently has a headcount of about 12,000 in India, spread across seven centres. Three of its customer management centres are in Gurgaon and one each in Pune, Thane and Bangalore. Convergys also has an information management centre in Hyderabad.
Source : 15-08-11 Hindu Business Line Compiled by Amresh Anjan
IT hirers may play it safe amid slowdown The IT industry is expected to hire 25-30% less than the projected three lakh employees in 2011-12. This follows economic uncertainty in its primary markets, the U.S. and Europe. Many companies in the industry turned cautious on lateral hiring while a few multinational ones have put a blanket freeze on senior-level hiring. Cisco, Dell and Juniper Networks have frozen hiring, while IBM India has cut back its hiring activities. Surabhi Gandhi of Teamlease, a HR services company, said there was a reduction in lateral hiring, which forms 45% of a big company's employee mix. The situation was the same for senior-level hiring which is 10-15% of the mix.HR consultant BS Murthy of Leadership Capital said there was a blanket freeze in place at several multinationals.
Source : 17-08-11 Financial Express Compiled by Amresh Anjan
Biogen Idec names new Managing Director Biogen Idec has appointed Sameer Savkur as managing director. Mr. Savkur, who replaces Alpna Seth, has more than 20 years of experience in the pharmaceutical industry in Asia and the U.S.
Source : 17-08-11 Financial Chronicle Compiled by Amresh Anjan
Study says 50% Indians open to switch in careers Indian industry is going to see an upheaval in employment rolls over the next five years if the workers and other staff do as they intend to do, that is, quit their current jobs and look for greener pastures in other companies. And when it happens, it won't just be a switch from one job to another similar but more paying one; it will more likely be jettisoning one career in favour of another. This worrying scenario emerges from a survey which says over 50 per cent of all Indian workers want to switch careers with¬¬in five years — mainly on money and lifestyle considerations. A better work-life balance is what they are looking for, says a survey conducted by the global workforce solutions firm Kelly Services. A part of a larger exercise in 30 countries, the survey in India took in a varied sample of 2,000 respondents from varied sectors and work levels.
Source : 15-08-11 Financial Chronicle Compiled by Amresh Anjan
New global design head for Tata Elxsi Tata Elxsi, a leading design company, said it has appointed design veteran Mr Nick Talbot as the global design head for its industrial design (ID) division."We are confident that with the global design experience Talbot brings, we can add substantial value to our customers' brands and products," the Tata Elxsi (Industrial Design) Vice-President, Mr Anil N Sondur, said in a statement. Mr. Talbot will be based in the Bangalore headquarters of Tata Elxsi, the company said in a statement.
Source : 16-08-11 Hindu Business Line Compiled by Amresh Anjan
Bank of America to axe 3,500 jobs Bank of America Corp will slash 3,500 jobs in the current quarter and is working on broader restructuring that could eliminate thousands of additional positions. Citing people familiar with the situation, The Wall Street Journal said the cuts are expected to be completed by the end of September and some employees already have been notified. Thousands of additional reductions are expected as part of a broader restructuring exercise known as "Project New BAC" and the layoffs could touch at least 10,000 (3.5 per cent of the bank's present work force), the daily said, citing sources. Bank of America Chief Executive Brian Moynihan is trying to bolster profits amid growing concerns about Bank of America's exposure to the slowing US economy and a slew of mortgage-related losses and lawsuits.
Source : 19-08-11 Rediff.com Compiled by Amresh Anjan
With FDI coming, retail may go big on hiring The opening up of retail to foreign investment may see the sector adding between seven and 10 million jobs across the board by 2015, The Hindu Business Line reports. The employment growth will not be limited to retail alone, but will extend to real estate, banking and construction, said Richie Madan, executive director of recruitment process outsourcing company Elixir Consulting. Hiring will mainly be in front-end and back-end operations, store operations, merchandising, logistics and distributions, marketing, procurement/purchase and corporate services. The expansion will include tier-I cities, tier-II and-III towns as well, he said. As far as distribution of employment is concerned, 85-80% are employed in store operations, 5-8% in merchandising and marketing and 10-15% in other spheres. Several big retailers have set up institutes to meet the surging demand for trained staff. For example, Bharti Walmart has its own training institutes in Punjab and Delhi. The retail segment currently employs 30-35 million people. Source : 14-08-11 Hindu Business Line Compiled by Amresh Anjan
Deloitte sees 143% more millionaires by 2020 A study by the Deloitte Center for Financial Services says the number of millionaire households in India will grow 143% from 2.86 lakh to 6.94 lakh between 2011 and 2020.The 405% growth in total millionaire wealth may differ across groups. The largest growth rate of 161% will be seen in the $5-30 million group, followed by 142% in the $1-5 million bracket and 115% in the $30 million-plus group. By 2020, the $1-5 million segment may be the largest, accounting for 73% of all millionaire households. India is likely to have the largest growth in total millionaire wealth at 405%, compared to other BRIC nations. China's millionaire wealth will rise 394%, followed by Brazil at257%. India may possess the highest per capita millionaire wealth among emerging markets, at $4.25 million, which is more than that of the U.S.
Source : 17-08-11 Hindu Business Line Compiled by Amresh Anjan
Sunil Munjal is joint MD of Hero MotoCorp Hero MotoCorp (formerly Hero Honda) has appointed Mr Sunil Kant Munjal as the Joint Managing Director of the company for a term of five years, starting August 17, the company said in a statement to the Bombay Stock Exchange.Mr. Munjal, a board member, will now share executive responsibilities with his brother Mr Pawan Kant Munjal. Hero Group, promoted by the Munjals, bought out Japanese partner Honda's 26 per cent stake in the two-wheeler maker earlier this year. This month, the company unveiled its new name and brand identity
Source : 18-08-11 Hindu Business Line Compiled by Amresh Anjan
Delhi-NCR scores over Mumbai in job creation Among the big metros, the Delhi-NCR region has created the maximum number of job opportunities in July, followed by Mumbai, Bangalore and Chennai, an Assocham study.An estimated 84,254 jobs were generated in Tier-I or big metropolitan cities in July, the report said. Out of this, 18.5% jobs were created in Delhi and NCR."Tier-I cities emerged as the most lucrative employment destinations for aspirants across India.... Hiring activity in July has been widespread across all levels," it said.The study also said the maximum number of jobs during the month were created in the IT sector, followed by financial services, automobile and education.The share of sectors like advertising, construction, event management, HR, infrastructure and real estate in total employment generation was almost negligible, it added.
Source : 19-08-11 DNA Compiled by Amresh Anjan
Pune reports highest salary increase in first half According to the latest findings of Employment Trends Survey (MEtS) – Wave2 conducted by Ma Foi Randstad, a division of the global Randstad Holding and world's second largest HR services company, Pune has reported the highest salary increase (17.1 per cent) in the Indian organised sector for the period extending between January 2011 and June of 2011 and is expected to retain its position in the current quarter as well at 17.8 per cent.Among the cities surveyed, the estimated proportion of fresher (workforce with less than 1 year experience) recruitment is reported to be the highest in the Pune region at 41.1 per cent.
Source : 19-08-11 Business Standard Compiled by Amresh Anjan
Tata Group firms' rejig brings Kapadia, Misra to forefront In an important reshuffle that clearly indicates that Tata Group is preparing itself for life after retirement of Ratan Tata and other important members, Indian Hotels Company has appointed Mehernosh Kapadia on its board as executive director.Tata Group, India's largest conglomerate, has also appointed Ajoy Misra as the deputy chief executive officer of Tata Global Beverages, earlier known as Tata Tea. Interestingly, Ratan Tata,73, is the chairman on the board of both the companies and RK Krishna Kumar, 73, is the vice-chairman on their boards. Both of them are to retire within the next two years.
Source : 22-08-11 Indian Express Compiled by Amresh Anjan
MTS Names New COO For Gujarat Ashish Bhatia,COO, Tata Teleservices for Orissa has joined MTS India on the same profile to manage its business in Gujarat circle. He will be responsible for stimulating business growth in the circle.
Source : 18-08-11 Financial Chronicle Compiled by Amresh Anjan
