NBCC Ltd, a state-owned construction firm, aims to increase its order book to Rs 1 lakh crore by March 2024 from the current Rs 84,400 crore. The company's portfolio includes PMC, EPC, and real estate projects, with a significant portion coming from redevelopment initiatives.
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Vanguard is set to inaugurate its largest global tech development centre in Hyderabad, marking its first in India. The centre will hire approximately 2,300 tech professionals within the next three to four years, focusing on AI/ML, Generative AI, cloud engineering, mobile engineering, and cybersecurity.
India views the USA's announcement of 26% reciprocal tariffs as a 'mixed bag' rather than a 'setback.' The imposition includes a universal 10% tariff on all imports starting April 5, with an additional 16% from April 10. Discussions on a bilateral trade agreement between the two nations continue, aiming for completion by fall.
India's poverty rates dropped significantly below 5% in 2024, as revealed by the State Bank of India's study. Both rural and urban poverty saw major reductions, with rural poverty at 4.86% and urban poverty at 4.09%. Further adjustments may occur following the completion of the 2021 census.
The US is seeing a surge in visitors from India, doubling by 2029 and positioning India as the fourth largest inbound travel market. Despite this growth, long visa wait times and limited direct flights due to restricted airspace usage hinder its full potential.
MNCs continue to push for women in top leadership roles, unlike Indian IT firms where women in C-suite roles are still under-represented. Global Capability Centres are making strides with targeted mentorship and deliberate focus on gender diversity, resulting in increased women leaders in senior positions.
Union finance minister Nirmala Sitharaman announced the introduction of a Rs 2 crore term loan scheme for five lakh first-time women, SC, and ST entrepreneurs during the Union Budget for 2025-26. Additionally, a manufacturing mission will be established for various industries, and a national institute for food technology will be set up in Bihar.
Rural poverty in India has notably dropped to 4.86% in 2023-24, down from 25.7% in 2011-12, driven by government support. Urban poverty also declined to 4.09%. Increased consumption and infrastructure developments have contributed to narrowing the rural-urban income gap, with significant improvements in rural livelihoods.
TCS CEO K Krithivasan attributes the company's sequential lackluster performance to deferred discretionary spends by clients and seasonality. Despite these challenges, he remains optimistic about future business prospects, managing potential changes in immigration regulations, and leading advancements in AI and software engineering for improved productivity.
Infosys shares fell by nearly 6%, reducing the Murthy family's net worth by around Rs 1,900 crore. Despite strong financial results, including an 11% increase in net profit for the December quarter, the company's market capitalisation decreased.
India's technology sector workforce grew by 1.2 lakh in 2024-2025, fueled largely by Global Capability Centres (GCCs) hiring over 100,000 professionals. IT firms added only 11,000 employees, while GCCs continued to drive significant employment growth and further reinforce India's expanding tech industry.