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Volume IconTMS Ep399: Indian IT layoffs, confectionery, markets, bank stress test

Do Accenture layoffs portend trouble for Indian IT? Why is India's confectionery market attracting billions? How will the markets play out in FY24? What is a bank stress test? All answers here

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TMS

Accenture on March 23 announced plans to trim its workforce by 19,000. According to reports, this may lead to around 7,000 job cuts in India. And, with the IT major cutting estimates for its ongoing financial year, analysts expect the fourth quarter numbers, associated guidance, and hiring by big Indian IT firms to be on pessimistic lines. Even the global banking crisis could have a domino effect on the IT sector. Against this backdrop, are the Accenture layoffs a sign of tough times for Indian IT? 

Even amid the tech layoffs, we see another sector — the confectionery industry — which is on an expansion spree in India. The confectionary market has been lately attracting investments from major manufacturers. Mondelez International, US confectionery manufacturer Mars and Reliance Retail have expressed their intention to expand in the space through investments and acquisitions. So, why is the Indian confectionery market attracting billions?  

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The runaway rally in Indian equities seen in FY21 and FY22 came to a grinding halt in FY23, as most global central banks tightened their monetary policies in order to fight the galloping inflation. Analysts, however, feel there is some hope for investors in FY24 as monetary tightening seems to be yielding results. Find out how analysts expect markets to play out in FY24.

Since the collapse of Silicon Valley Bank and Credit Suisse, regulators and governments across the globe have sprung into action to prevent a contagion in the banking sector. In India, Finance Minister Nirmala Sitharaman has asked banks to stay alert and take stress tests. So, what are bank stress tests? This episode of the podcast brings you the answer and more.

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First Published: Mar 29 2023 | 8:00 AM IST

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