India's IT sector has shifted towards automation, leading to a collective net headcount reduction of 2,587 in the December quarter. Major firms like TCS, Wipro, and Tech Mahindra saw workforce declines. Experts believe this trend will continue, with the IT sector adding fewer employees compared to the previous year. Increasing revenue productivity has decreased the need for headcount growth.
Related news
India experienced a dramatic 99% drop in Foreign Portfolio Investment (FPI) inflows in 2024, predominantly due to robust US economic performance and tightened Indian market conditions. Analysts highlight factors like India's high valuations and economic uncertainties. Despite this, domestic investor presence maintained market stability, while FPIs showed interest in long-term prospects.
The BJP-led Delhi government, under chief minister Rekha Gupta, is developing a new excise policy designed to boost revenue while ensuring transparency and avoiding societal issues. Drawing inspiration from successful excise policies in other states, the forthcoming policy aims to be "foolproof." This initiative follows the scrapping of the previous AAP government's excise policy due to corruption allegations.
Markets regulator Sebi has established new guidelines for research analysts and investment advisers to enhance investor protection. Key measures include deposit requirements linked to client numbers, mandatory compliance audits, and detailed disclosures. Dual registrations for advisory and research roles are permitted, provided services are distinctly segregated.
The survey highlights unfulfilled promises of climate finance by rich nations, stressing their impact on climate targets. Developing countries, including India, may not pursue ambitious emission reduction goals. Instead, India should prioritize a strong adaptation strategy while maintaining its commitment to low-carbon growth.
Retail investors maintained their mutual fund investments in February despite market volatility, with a slight dip in SIP contributions and equity inflows. Shift towards flexicap funds was noted, while small and midcap funds faced declines. Gold ETFs saw strong annual inflows but dropped monthly. The overall AUM reduced mainly due to mark-to-market losses in equity funds.
The Reserve Bank of India approved a one-year reappointment of Sumant Kathpalia as MD and CEO of IndusInd Bank, effective March 2025, reducing the tenure initially proposed by the board. Kathpalia, with 37 years of experience, has led initiatives in balance sheet strengthening, digital transformation, and governance improvements.
Wipro is investing $200 million in its venture arm, Wipro Ventures, to boost its portfolio by supporting early to mid-stage startups. The investment aims to foster technological innovation and collaboration globally, driving progress and creating value for all stakeholders in sectors like financial services, healthcare, energy, and manufacturing.
Lakshmi Venu, director of TAFE and daughter of CMD Mallika Srinivasan, is appointed vice-chairperson of TAFE. This aligns with the next generation taking leadership roles in TAFE and TVS, where her brother Sudarshan Venu is MD of TVS Holdings and TVS Motor Company. Lakshmi aims to enhance TAFE's growth and success.
The Trump administration's decision to exempt tariffs on Indian pharma imports brings relief to a $9 billion-plus US export market, highlighting India's key role in providing affordable generic medicines. However, India's medical device sector faces a 26% reciprocal tariff, potentially impacting its growth and exports.
Adani Enterprises reported a 97% drop in quarterly profit, significantly impacted by its coal trading unit and foreign exchange loss. Revenue fell almost 9% to Rs 22,850 crore. This comes amid allegations of the chairman and his nephew's involvement in a $250 million bribery scheme.