Page 13 - India Inc

Indian industry ready to catch momentum of country's growth: Ficci official

The Indian industry is ready to catch the momentum of the country's growth story and be a part of its march to 2047 to become a developed nation, a top industrialist has said. In an interview to PTI, Subhrakant Panda, senior vice president of the Federation of Indian Chambers and Commerce and Industries (FICCI) said India has emerged as a bright spot in the world economy. There is no doubt that the Indian economy would easily surpass the goal of USD 5 trillion and then USD 10 trillion GDP, Panda told PTI, asserting that experts and economist are now talking about the country becoming a USD 30 trillion or USD 35 trillion economy. There are many assumptions and factors which go into deriving those numbers, but I think what is very clear is the direction of growth and the sustained reforms, which are going to take us in that direction of growth, he said. From an Indian industry perspective, are we ready for it? Yes, I think we are. Because this is a huge opportunity which awaits us. I

CEOs of Indian companies get nearly 4% compensation hike in FY22

According to members of nomination and pay committees of several blue-chip corporations, there is a growing trend of linking CEO salaries to results and performance

India Inc's freshers' hiring intent surges 61% in HY22, says report

Freshers' hiring intentions have increased to 61 per cent for the July-December 2022 period as employers across India look to hire due to the accelerated rate of tech and digital advancements, according to a report. There is a more than threefold increase in the share of employment opportunities for freshers as overall freshers' hiring intentions for the current HY increased to 61 per cent as compared to July-December 2021, according to TeamLease EdTech Career Outlook Report. At the beginning of the second half of 2022, attracting and retaining talent emerged as a top priority for many leading companies and business leaders, it added. "There is a substantial increase in job openings for freshers, but many demand updated skills and experience due to the accelerated rate of tech and digital advancements globally. Breaking down the hiring intent thus helps identify the right path for students and corporations equally in the times of talent wars," TeamLease EdTech founder and CEO Shanta

Diversity in India Inc: Women got only 21 out of every 100 new jobs in FY22

This is the second of a four-part series examining diversity, equity and inclusion (DE&I) in corporate India. Part 2 looks at a decline in the representation of women in the workforce

Largest ever contingent of India Inc participates in GITEX Global 2022

India had the highest number of participating companies after the host, UAE, at the four-day event

Headwinds from the West

Weakening global discretionary spend makes IT industry cautious

Top headlines: India Inc's overseas fundraising, Vistara-AI merger talks

From Vistara-Air India merger discussions to India Inc's fundraising, here are the top headlines on Friday morning

India Inc's fundraising from overseas sinks to 76-qtr low in Q2: Data

Fund raise drops by 93.3% year-on-year to $210 mn in the quarter

India Inc's Q2 profit may fall on commodity price pressures: Report

India Inc is expected to report a three per cent year-on-year decline in profits for the July-September period, a report said on Wednesday. This fall in profitability will be the fourth straight quarter of the decline in profits for the listed companies, rating agency Crisil's research wing said. "Profitability...is seen declining 300 basis points (bps) due to elevated commodity prices," the report, based on research of 300 companies from 47 sectors, said. "Rising revenue momentum is not translating into profit margin proportionately," Crisil Research's associate director Sehul Bhatt said. The revenues are expected to rise by 15 per cent during the quarter when compared to the year-ago period, the report said, attributing it to moderate price hikes and steadily rising volumes. It can be noted that starting earlier this week, major companies have been reporting their earnings for the July-September period. On a sequential basis, that is when compared with the performance in Q1, th

Top Headlines: Run-up to Budget 2023-24, India Inc's Q2 earnings, and more

The July-September quarter (second quarter, or Q2) of 2022-23 (FY23) could mark the end of the period of an unprecedented rise in India Inc's earnings in the aftermath of the pandemic

India Inc's earnings to shrink in Q2FY23; net sales growth slows

Equity valuations in India are among the highest globally on expectations of faster earnings growth

India Inc's foreign commercial borrowings rise by 4.6% in Aug: RBI data

India Inc's foreign commercial borrowings in August this year rose by nearly 4.6 per cent to USD 2.98 billion, according to the RBI data. In August 2021, the Indian businesses borrowed USD 2.85 billion in the form of external commercial borrowings. Of the total borrowings in August this year, over USD 2.47 billion was through the automatic route of raising funds from foreign sources. While more than USD 502.79 million was raised by way of issuing rupee denominated bonds (RDBs) or masala bonds. Among the major borrowers include mortgage lender HDFC Ltd USD 1.1 billion for the purpose of sub-lending; FS India Solar Ventures USD 500 million for a new project; Fullerton India Credit Co Ltd USD 350 million for sub-lending and Toyota Financial Services USD 50 million for refinancing of Rupee loans. Among others, IIFL Finance raised USD 50 million for refinancing of earlier ECB; Tata Sia Airlines raised USD 36 million for import of capital goods; Flender Drvies USD 31.37 million for worki

Why is India Inc protectionist?

As a response to a falling rupee and rising current account deficit, the govt is mulling tariff hikes on non-essential imports. But, does India Inc also favours protectionism? Let's find out

India Inc's credit quality continues to improve in H1, may moderate: Crisil

India Inc's credit quality showed further improvement in April-September period with the ratio of upgrades to downgrades inching higher. The credit ratio's improvement to 5.52 in H1FY23 as compared to 5.04 in H2FY22 was driven by leaner balance sheets led by healthy cash flows and muted investments, Crisil Ratings, which rates 6,800 companies, said. However, the agency clarified that the data may not be fully representative as many small businesses with outstanding ratings have turned non-cooperative in sharing data on a continued basis which can be driven by adverse financial health. India Inc has emerged stronger post-pandemic, its managing director Gurpreet Chhatwal said, exuding confidence that the corporate India can weather the current storm caused by global events like higher inflation and monetary tightening which will hurt India's exports. Crisil's senior director Somasekhar Vemuri said there can, however, be a moderation in the credit ratio going ahead due to some of the

India Inc turns to tech, outreach to get quiet quitters motivated, engaged

A few companies are also stepping back to give their employees reboot time

India Inc's credit rating upgrade momentum continues in first half of FY23

Profiles have adequate headroom to navigate the current challenges.

Led by HDFC twins, India sees record $124-billion M&A deals in H1FY23

Bankers said the second half of the ongoing financial year will be led by government divestments

Govt must curb non-essential imports to stem rupee fall: CEO poll

India Inc encourages FDI, raising dollar deposits from NRIs

Productivity 'hyper focus' hurting employees, causing attrition: Report

Only 9% of managers say hybrid work model gives them confidence that employees are productive

India Inc seeks help from law firms to address moonlighting: Report

The companies want law firms to redraft employment agreements, find loopholes and enforce restrictions to address the issue of moonlighting