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<keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> faced an acute talent demand-supply gap of 28 per cent in 2021 for jobs in new-age technologies amid the demand of nearly 1.5 lakh jobs in areas like 5G, Cloud computing, AI/Big Data analytics, IoT, mobile app development and robotic process automation, a new report showed on Wednesday. The talent <keyword id="1761478" type="General" weightage="20" keywordseo="demand-supply-gap" source="Orion">demand supply gap</keyword> will continue to widen with the advent of 5G and allied technologies rollout, according to the report by the <keyword id="1640349" type="General" weightage="20" keywordseo="Telecom-Sector-Skill-Council" source="Orion">Telecom Sector Skill Council</keyword> (TSSC), as <keyword id="6354814" type="General" weightage="20" keywordseo="Prime-Minister-Narendra-Modi" source="Orion">Prime Minister Narendra Modi</keyword> dedicated an indigenous 5G Test Bed, in the form of 5Gi, to the nation on Tuesday. "A deeper look at the technological changes, along with proper skilling, will prepare the workforce of the future. We hope to address policy issues like low penetration of broadband and the industry needs to proliferate at a CAGR of 30-40 per cent in order to create a phenomenal number of jobs," said <keyword id="12218680" type="General" weightage="20" keywordseo="K-Rajaraman" source="Orion">K. Rajaraman</keyword>, Secretary, <keyword id="58770" type="General" weightage="20" keywordseo="Department-of-Telecommunication" source="Orion">Department of Telecommunication</keyword> (DoT). "TSSC should put in place a set of occupational categories such as rural broadband technician which can support the development of BharatNet in rural areas," he emphasised during the launch of the report. The telecom council plans to train 1 lakh people in the next three years and open 10 new Centres of Excellence across the country. "With original equipment manufacturers (OEMs) setting shop in India, they will need a plethora of job roles to set up their supply chain. We aim to aid the ecosystem with a world-class skilled workforce for 5G and its allied technologies," said Arvind Bali, CEO, TSSC. TSSC President Akhil Gupta (Vice Chairman, Bharti Group) said that they now plan to accelerate skilling initiatives to international regions and map the international workforce demand. "It is important to train the workforce to use these new technologies in a much more effective fashion. When we talk about jobs in the telecom sector, we should not talk about only the jobs here but how they need some kind of upskilling," added Rajesh Aggarwal, Secretary, Ministry of Skill Development and Entrepreneurship. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jio-vs-bharti-airtel-four-charts-to-showcase-how-indian-telecom-giants-faired-in-2022/slidelist/91640306.cms">Reliance Jio vs Bharti Airtel — four charts that showcase how the Indian telecom giants faired in 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/unacademy-launches-offline-classes-to-take-on-byjus-owned-aakash-institute/articleshow/91639300.cms">Unacademy launches offline classes to take on Byju's-owned Aakash Institute</a>

India is witnessing a 28% of talent crunch in the technology area, says report

By Lalit K Jha Washington, Apr 10 () A high-profile diaspora group of some of the top Indian American corporate executives and leaders have raised USD 600 million to fight hunger and provide direct relief to vulnerable populations affected by the coronavirus pandemic in the United States and India. ChaloGive for COVID-19 launched by Indiaspora has raised USD 500 million from its leadership network. Indiaspora also announced another USD 100 million as matching donation for its online giving campaign starting Friday."This pandemic has exposed an already existing hunger crisis," said Indra Nooyi, former Pepsico CEO. "Together, as a society we must rise to this moment and address this great need knowing our investment in people, in families, and in communities will reap untold benefits not only now but into the future," she said. Money raised by Indiaspora will meet demand on the ground through beneficiary non-profits Feeding America in the US and Goonj in India, a media release said. One of the most pressing and urgent challenges facing both the US and India right now is hunger, which is a deciding factor in Indiaspora's new ChaloGive campaign, it added."We are facing an unprecedented situation due to Covid-19," said Anand Rajaraman, a Silicon Valley-based serial entrepreneur and venture capitalist, and an Indiaspora Founders Circle member who, along with his wife Kaushie Adiseshan, is a lead donor for the campaign."The drastic measures necessary to control this pandemic have created special challenges for vulnerable sections of society across the world, particularly in India and the US. Indiaspora has the opportunity to unite the diaspora to quickly and decisively help in the midst of this crisis," Rajaraman said."While all eyes are on frontline hospitals, millions in America and across the globe suffer silently from a growing and equally alarming epidemic of food insecurity as the COVID-19 crisis threatens to push already struggling families deeper into poverty," said Sejal Hathi, an Indiaspora Board member and physician at Massachusetts General Hospital."Now more than ever is the time for communities like Indiaspora's to come together and rise to this call to feed people in need," Hathi said. Indiaspora said ChaloGive for COVID-19 provides an opportunity for the Indian diaspora to make a collective impact toward helping marginalized communities which have been disproportionately affected by the ongoing crisis."This crisis has made it even harder for those who were already struggling to survive," said Kris Gopalakrishnan, chairman of Axilor Ventures and a founder of IT services company Infosys, who is also an Indiaspora Founders Circle member. "Given the increasingly global world we are living in, India and its diaspora are in a unique and powerful position to help each other," he added. It is essential that individuals, especially vulnerable populations who are most at risk, maintain access to food during this public health emergency," said former U.S. Surgeon General Dr Vivek Murthy. "I proudly support this campaign and trust its impact will go far to bring relief to those struggling with food insecurity," he said.In India, philanthropists Rohini and Nandan Nilekani and Bollywood actress Nandita Das also have voiced their support for the campaign."Goonj is just the kind of organisation we can rely on in this double crisis of health and livelihoods," said Rohini Nilekani. "It has decades of experience serving the most vulnerable while striving to preserve the dignity of every stakeholder, and it has time and again demonstrated a scaled up, rapid response in the aftermath of disasters. We have been supporters of Goonj for many years. They care, and they deliver," she said."Despite our extensive experience of working in disasters, the scale and still unfolding nature of this long-tailed disaster calls for massive resource mobilization for short-, mid- and long-term work," said Anshu Gupta, Goonj founder and a Magsaysay Awardee."We are delighted to partner with Indiaspora on this campaign as an opportunity to engage the Indian-American community and our well wishers from across the world in supporting their fellow citizens in this difficult hour," he said."The nation and our food bank network are facing challenges unlike anything we've seen in our organization's history," said Claire Babineaux-Fontenot, CEO of Feeding America. "We are truly grateful to Indiaspora for its support of Feeding America through the ChaloGive for COVID-19 campaign. During this time of uncertainty, the generous donations derived from this effort will help bring much-needed food and hope to countless families facing hunger across the US," he said. LKJ RAXRAXRAX

High-profile Indian diaspora group raises USD 600K for COVID-19 relief

Two more Japanese banks are set to join 10 foreign and 16 local banks in the <keyword id="880043" type="General" weightage="20" keywordseo="tax-free" source="Orion">tax-free</keyword> <keyword id="6424024" type="General" weightage="20" keywordseo="gift-city" source="Orion">GIFT City</keyword>, where more than 550 businesses with assets worth USD 47 billion have registered and begun operations, an official said.. This marks a significant expansion of the GIFT City's <keyword id="34510" type="General" weightage="20" keywordseo="financial-sector" source="Orion">financial sector</keyword>, which is expected to play a key role in India's economic growth, International Financial Services Centres Authority (IFSCA) chairman K Rajaraman said here. "We also want Indian origin funds and businesses that are located in tax-free jurisdictions to return home and be part of the growing GIFT City hub," said Rajaraman, giving this update on the Ahmedabad-based city free trade zone, where ease of doing business procedures, processes and laws have become a benchmark for international standards. IFSCA is the regulatory body for the Indian special economic zones such as the GIFT City. Rajaraman said his recent delegation to Tokyo has resulted in two Japanese banks registering in the GIFT City, and more are expected as he continued discussions with potential businesses at the Singapore Fintech Festival being held 15-17 November 2023. "We are at Singapore Fintech Festival to promote the advantages of being in Tax-Free GIFT City," he underlined. He informed that 78 fund managers with 88 alternative investment funds, 82 funds with a corpus of USD 90 billion, as well as five insurance companies and two stock exchanges - GIFT CITY Nifty of National Stock Exchange and a bullion exchange are already part of the business community that the Indian government wants to establish and be part of the global financial network. "We believe a lot of India-focus business will certainly work out of GIFT City and a lot of fast growth is seen, he said, pointing out that 122 aircraft assets have been leased out tax-free city. "We have three electronic trading platforms - international trade finance solutions for bill factoring while there are insurance companies with international joint venture partners," said Rajaraman. The Singapore Fintech Festival had 650 companies from across the world.

Two Japanese banks set to start operations in GIFT City: IFSCA chief

<ul><li>Telcos have urged the government to review the local testing proposed for 5G smartphones.</li><li>The Telecom Engineering Center had called for local testing and certification of 5G smartphones from 2023.</li><li>Telcos have claimed that this would bring down the availability of 5G smartphones in the country.</li></ul>5G smartphone sales have been picking up pace and recently <a href="https://www.businessinsider.in/tech/mobile/news/global-sales-of-5g-enabled-smartphones-surpass-4g-for-the-first-time-report/articleshow/90292949.cms">surpassed 4G smartphones</a> globally. Even in India, 5G smartphones have become quite popular, despite the fact that the commercial rollout of 5G is yet to begin in the country. As per an Economic Times <a href="https://telecom.economictimes.indiatimes.com/news/jio-airtel-vodafone-idea-warn-of-5g-phone-shortage/90343733">report</a>, telecom operators have warned against the government’s move to locally test and certify 5G smartphones sold in the country from January 1, 2023. <cmsannotation type="cmsannotation" annotationid="subhead" comment="subhead" text="Local testing will hamper 5G smartphone availability">Local testing will hamper 5G smartphone availability</cmsannotation> The Telecom Engineering Center (TEC), which is the technical arm of the Department of Telecommunications (DoT) in a recent internal meeting called for the inclusion of 5G smartphones under phase 5 of mandatory testing and certification of telecom equipment (MTCTE) regime. Telcos have warned that this move would not only delay the rollout of 5G smartphones in the country, this could also impact India’s goal of becoming a global hub for smartphone manufacturing. The telcos have said that local testing and certification of 5G smartphones will bring down the availability of 5G smartphones as testing and certification will require a lot of time. This move comes at a time when <keyword id="6354504" type="General" weightage="20" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword>’s <keyword id="3820" type="General" weightage="20" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword> has called for 5G rollout to become a <a href="https://www.businessinsider.in/business/telecom/news/mukesh-ambani-calls-for-5g-roll-out-in-india-asks-it-to-be-national-priority/articleshow/88160233.cms">national priority</a>. The TEC had earlier called for local testing and certification of all smartwatches, smart cameras and wearables being sold in India. As per the report, the Cellular Operators Association of India (COAI), which includes Airtel, Reliance Jio, Vodafone Idea, Ericsson, Nokia and others has written a letter to K. Rajaraman, the telecom secretary. “We urge your intervention to instruct TEC to rescind the existing notifications covering all existing consumer electronic products under the MTCTE Certification regime and to desist in pursuing smartwatches, wearables, and smart cameras under Phase III and 5G mobile phones under the proposed Phase V of MTCTE,” COAI said in the letter. The <a href="https://www.businessinsider.in/budget/news/nirmala-sitharaman-announced-that-5g-services-will-happen-by-2022-23-in-budget-session/articleshow/89267252.cms">5G spectrum auction</a> is expected to be conducted later this year and the commercial rollout of 5G services is expected to take place by 2022-2023. While 5G is yet to roll out, India already has over <a href="https://www.businessinsider.in/business/telecom/news/indians-are-now-consuming-over-12000-petabytes-of-4g-data-every-month/slidelist/90221728.cms">10 million</a> active 5G smartphones. While India has delayed the rollout of 5G services, India’s Minister for Communication, <keyword id="7796574" type="General" weightage="20" keywordseo="ashwini-vaishnaw" source="Orion">Ashwini Vaishnaw</keyword> has claimed that the country will roll out 6G technology by 2023-end or early 2024. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/india-to-get-6g-by-2023-end-or-2024-indias-communications-minister-says-while-the-country-still-waits-for-5g-rollout/articleshow/87883592.cms">India to get 6G by 2023 end or 2024, India’s communications minister says while the country still waits for 5G rollout</a> <a href="https://www.businessinsider.in/budget/news/nirmala-sitharaman-announced-that-5g-services-will-happen-by-2022-23-in-budget-session/articleshow/89267252.cms">5G spectrum auctions in 2022, commercial 5G rollout by 2022-23</a> <a href="https://www.businessinsider.in/tech/mobile/news/global-sales-of-5g-enabled-smartphones-surpass-4g-for-the-first-time-report/articleshow/90292949.cms">Global sales of 5G-enabled smartphones surpass 4G for the first time: Report</a>

Telcos reportedly urge government to skip local testing to avoid 5G phone shortage

New Delhi, Dec 16 () Economic Advisory Council of the Fifteenth Finance Commission on Monday discussed issues related to GST stabilisation and possible ways to improve tax collection for additional resource mobilisation.
"Advisory Council was informed about submission of the 2020-21 report and now the Commission is on its next task of preparing the report for 2021-26 period," said an official release after the fifth meeting of the Fifteenth Finance Commission.
Talking to reporters, Finance Commission Chairman N K Singh said the Commission plans to make recommendations on Goods and Services Tax (GST), which will be for the GST Council to consider.
The Fifteenth Finance Commission discussed issues related to stabilisation of Goods and Services Tax (GST), relationship between GST Council and Finance Commission, and GST compensation being paid to states.
Singh also said the Commission was planning to make medium-term revenue projections in its report.
The Council discussed the possible macro assumptions for the Commission's award period relating to real growth, inflation etc were discussed in detail.
Matters like the structural shift in inflation, relationship between the GDP deflator and consumer price inflation, and possible trajectories of movement in real activity were also discussed.
"Tax revenues and expenditure patterns emerging both at the Union and the States level. Possible way to improve tax collection for additional resource mobilisation," the release said.
The meeting held detailed deliberations on tax revenues and expenditure patterns emerging both at the Union and the states level.
Possible way to improve tax collection for additional resource mobilisation was another focus area of the meeting.
As per the release, issues related to compliance and adherence to Fiscal responsibility legislations (FRLs) enacted by respective governments. The need for bringing in fiscal transparency was underlined in the discussions.
Advisory Council members were updated by the Commission regarding the additional terms of reference extending Fifteenth Finance Commission's term till October 2020.
As per the additional terms of reference, the Commission will submit two reports- one, for the year 2020-21 and second report for the five year period of 2021-22 to 2025-26.
The council members who attndeded the meeting include M Govinda Rao, Indira Rajaraman, Sudipto Mundle, Omkar Goswami, Arvind Virmani, Surjit Bhalla and Prachi Mishra. NKD
BAL

Eco Advisory Council of Fin Comm discusses GST stabilisation, tax collection issues

New Delhi, Apr 24 () The economic advisory panel of the 15th Finance Commission has suggested that the government should look to support small enterprises and avert bankruptcies in the financial sector as part of the fiscal response to deal with the coronavirus crisis. At its two-day meeting held via video conferencing, the members of the Advisory Council felt that the shortfall in tax and other revenues will be large due to subdued economic activity and hence the fiscal response to the crisis should be much more nuanced. "It is important not just to look at the size of fiscal response but also carefully at its design... The Advisory Council also felt that the magnitude of the impact of these developments on public finances is uncertain, but will certainly be significant. "Governments will have substantial expenditure burden on account of health, support to poor and other economic agents," an official statement issued after the meeting said. The council felt that the COVID-19 pandemic and the national lockdown would slow down domestic activity and impact cash flows of financial institutions and businesses, besides loss of global demand for Indian products because of a steep global recession. "All of them were unanimous to suggest that the projections of real GDP growth made before March 2020 need to be relooked into entirely, and, revised downwards considerably. "Once the lockdown of the economy is released, the recovery can only be excepted to be gradual, depending on the ability of the workforce to get back to work soon, restoration of supplies of intermediates and cash flows and, of course, the demand for output. Therefore, the full magnitude of the economic impact of Covid will only be clear only over a course of time," the statement said. Among the suggestions made to the commission, the council members said small scale enterprises were cash-starved even prior to the onset of the pandemic. "As their activity levels and cash flows are affected, it is important that a support mechanism be devised to help them overcome this problem," it said. Also, non-banking financial companies are affected by the slowdown and in order to avoid bankruptcies and deepening of NPAs in the financial sector, measures should be appropriately designed. Measures like partial loan guarantee may help. The Reserve Bank of India will have a key role in ensuring that financial institutions are well-capitalised, the council members suggested. Also the finances of the central and state governments need to be watched carefully in the wake of increased spending to fight the pandemic. "As we move ahead, we need to think of options for financing the additional deficit. It is important to ensure that the State governments get access to adequate funds to undertake their fight against the pandemic," it added. Besides the healthcare cost, the government is also faced with the additional burden of giving booster or stimulus to sectors and industries hit by the nationwide lockdown. The lockdown that began on March 25 was last week extended till May 3. Late last month, the government had announced a Rs 1.7 lakh crore stimulus package comprising free foodgrains and cooking gas to poor and cash dole to poor women and elderly. A second package, aimed at industries, is said to be in the works and will likely be announced shortly. Several international agencies including IMF and the World Bank have cut India's growth forecast over concerns about the fallout of the COVID-19 pandemic. The International Monetary Fund (IMF) has slashed India's GDP growth projection to 1.9 per cent in 2020 from 5.8 per cent estimated in January, as the global economy hits the worst recession since the Great Depression in the 1930s due to the raging coronavirus pandemic. Similarly, the World Bank has estimated India's economy to grow between 1.5 to 2.8 per cent in the 2020-21 -- the worst growth performance since the 1991 liberalisation. Fitch has projected India's GDP to grow at 0.8 per cent this fiscal, while S&amp;P pegs it at 1.8 per cent and Moody's at 2.5 per cent in 2020. These growth estimates compare to an estimated 5 per cent growth rate in 2019-20 fiscal that ended on March 31. India's economy also grew by 5 per cent in 2019 calendar year. The council also felt that it is likely that different states may come out of the severity of the impact of the pandemic in different stages. Hence, the revival of activity in different states will be at varied pace, the statement said. The meeting, chaired by 15th Finance Commission Chairman N K Singh, was attended by all members of the commission. The Economic Advisory Council members are Sajjid Chinoy, Prachi Mishra, Neelkanth Mishra, Omkar Goswami, Arvind Virmani, Indira Rajaraman, D K Srivastava, M Govinda Rao, Sudipto Mundle and Krishnamurthy Subramanian. JD ABMABM

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India is witnessing a 28% of talent crunch in the technology area, says report

IANS

High-profile Indian diaspora group raises USD 600K for COVID-19 relief

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Two Japanese banks set to start operations in GIFT City: IFSCA chief

PTI

Telcos reportedly urge government to skip local testing to avoid 5G phone shortage

Rounak Jain

Eco Advisory Council of Fin Comm discusses GST stabilisation, tax collection issues

PTI

COVID-19: FinComm's advisory panel suggests support to small biz, NBFCs

PTI

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