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The generative AI provides more <keyword id="20069513" type="General" weightage="20" keywordseo="opportunity" source="keywords">opportunity</keyword> to the Indian IT sector contrary to the believe of being a threat, highlighted a report by Nuvama Wealth Management.<br /><br />The report noted that although AI <keyword id="19901571" type="General" weightage="20" keywordseo="technology" source="keywords">technology</keyword> may initially disrupt the sector, especially in terms of business operations and billing models, the long-term benefits far outweigh the risks.<br /><br />"We, on the contrary, expect the Indian IT industry to come out stronger from the <keyword id="19906101" type="General" weightage="100" keywordseo="Gen-AI" source="keywords">Gen AI</keyword>-led disruption. We dig deep into various facets of Gen <keyword id="20037918" type="General" weightage="20" keywordseo="AI-adoption" source="keywords">AI adoption</keyword> for enterprises and find that Gen AI would create a mammoth incremental opportunity for <keyword id="20617562" type="General" weightage="20" keywordseo="Indian-IT-services" source="keywords">Indian IT services</keyword>," said the report.<br /><br />The report noted that as more enterprises adopt AI, the need for services such as upgradation of legacy code and data readiness for AI integration will increase, offering Indian IT firms new streams of revenue.<br /><br />The report mentioned one of the most significant opportunities lies in the modernization of <keyword id="21835113" type="General" weightage="20" keywordseo="legacy-systems" source="keywords">legacy systems</keyword>, particularly core banking systems (CBS). It stated that many <keyword id="19912054" type="General" weightage="20" keywordseo="financial-institutions" source="keywords">financial institutions</keyword> still use mainframe systems and outdated programming languages like COBOL. Gen AI enables automated code modernization, which will drive a major demand for Indian IT services to upgrade these systems, creating a long-term revenue stream.<br /><br />"Since most non-Indian (read European) do not have the scale to hire and deploy employees with the ability to code in COBOL (not to mention supply crunch)--they have ceded this opportunity to <keyword id="21817095" type="General" weightage="20" keywordseo="Indian-IT-Services-companies" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian IT Services companies" meta.hostid="261" meta.entityid="Indian IT Services companies">Indian IT Services companies</keyword>" said the report.<br /><br />The report specifically highlighted the "upgradation of legacy code" as a key area of opportunity for IT companies as businesses prepare their systems for AI integration.<br /><br />Gen AI is expected to create new service lines for Indian IT companies, including AI-based <keyword id="19945906" type="General" weightage="20" keywordseo="customer-service" source="keywords">customer service</keyword>, fraud detection, predictive maintenance, and knowledge processing. These AI-driven solutions will allow IT firms to offer higher-value services to clients, boosting revenue and profit margins.<br /><br />"Indian IT companies have always repositioned themselves to continue to do what they do best--service customers. That has provided them with the longevity they have commanded for multiple decades now. We do not see that changing this time as well" the report added.<br /><br />Comparing Gen AI to "a hammer looking for a nail," the report suggested that the technology's applications are still being discovered, but its potential is undeniable.<br /><br />Looking ahead, the report forecasts a strong start to FY25 for Indian IT companies, with growth driven by an optimistic outlook for the Banking, Financial Services, and Insurance (BFSI) sector, increasing technology spending, and large deal ramp-ups.<br />

Gen AI to unlock a "mammoth incremental opportunity" for Indian IT services: Report

India’s appetite is increasing day by and day and the <keyword id="20676228" type="General" weightage="20" keywordseo="food-services-industry" source="keywords">food services industry</keyword> is on a sizzling plate, projected to grow by 10-12% annually for the next seven years, according to a recent study by <keyword id="19896956" type="General" weightage="20" keywordseo="Swiggy" source="keywords" meta.keywordsubtype="org" meta.entityname="Swiggy" meta.hostid="261" meta.entityid="Swiggy">Swiggy</keyword> and <keyword id="19922375" type="General" weightage="20" keywordseo="Bain-Company" source="keywords" meta.keywordsubtype="org" meta.entityname="Bain &amp; Company" meta.hostid="261" meta.entityid="Bain &amp; Company">Bain &amp; Company</keyword>. This translates to a potential customer base of 45 crore people by 2030! <keyword id="20039605" type="General" weightage="20" keywordseo="online-food-delivery" source="keywords">Online food delivery</keyword>, in particular, is expected to grow at an even faster rate with a compound annual growth rate of 18%.<br /><br />Fueled by a growing population, more eating-out occasions, and a wider variety of food options, India's culinary landscape is undergoing a delicious transformation — delicious for the service providers. But what of the consumers?<br /><br />While the study reveals a fascinating diversity in <keyword id="22275323" type="General" weightage="20" keywordseo="how-india-eats" source="Orion">how India eats</keyword>, it also indicates that the top 50, or Tier 1, cities presently account for 70% of food consumption. This wouldn’t be a problem if eating food from outside weren’t basically synonymous with eating unhealthy food. To exacerbate this problem, statistics suggest that this trend will soon seep into the Tier 2 and 3 cities of the country as well.<br /><br />Further, 70% of consumption came from upper-middle to high income households. <br /><br />As per the study, GenZ and other youngsters represent a significant chunk of the food consumption pie – a whopping 40%!<br />    <div type="Article" hostid="261" msid="109113406" title="Millennials and Gen Z&amp;#39;s trendy new splurge: groceries" mstype="2" mssubtype="0"></div>Growing up in the age of smartphones and social media, Gen Z is comfortable navigating the digital world to discover new restaurants and cuisines. They're not afraid to experiment, venturing beyond traditional family favorites and trying over three different cuisines and six restaurants in a year!<br /><br />While GenZ appreciates good food, they also prioritise value for money. Online food <keyword id="20039606" type="General" weightage="20" keywordseo="delivery-platforms" source="keywords">delivery platforms</keyword> allow them to compare prices and offerings before placing an order. Furthermore, this generation is expected to dine out more often as their disposable income increases.<br /><br />The rise of online food delivery has revolutionized the way India eats. It has not only extended our eating hours (think late-night cravings!). With changing lifestyles, mid-meal snacking is becoming a popular trend. This opens doors for innovative brunch and evening snack options, requiring restaurants to adapt their opening hours.<br /><br />Delivery platforms have seen an increase in people ordering food items like chicken biryani, fried rice, butter naan, masala dosa and Margherita pizza, among other things, during odd-hours of the day and night. <br /><br />Convenience, taste, and price are now the holy trinity of ordering decisions. Food delivery platforms have intensified competition by making restaurant discovery and comparison a breeze. However, the rise of these food delivery platforms can have a direct impact on the health of Indians, and judicious use of them is advised.<br />    <div type="Article" hostid="261" msid="111758782" title="Zomato and Swiggy increase platform fee by 20% – food deliveries to get costlier" mstype="2" mssubtype="0"></div><br />

Swiggy report says GenZ contributes to 40% of food consumption; highlights recent trend of binge-eating

India's services sector showed robust expansion in October, per the <keyword id="22267674" type="General" weightage="20" keywordseo="HSBC-India-Services-PMI" source="keywords">HSBC India Services PMI</keyword> (Purchasing Managers' Index), which rose to 58.5 last month, up from September's ten-month low of 57.7. October's figures managed to exceed even the long-run PMI average of 54.1, largely on the back of a strong sales pipeline and elevated demand. <br /><br />Employment, or job creation in this sector accelerated to its fastest growth rate in 26 months. Anticipating solid, sustained demand in the near term, firms added new employees at the most rapid pace in over 2 years. October also saw <keyword id="23834175" type="General" weightage="20" keywordseo="input-costs-rise" source="keywords">input costs rise</keyword> at their fastest pace in 3 months, indicating renewed demand and economic activity in the country. The ISM Services PMI, an indicator of the economic health of the US, also exceeded expectations, reaching 56.0 compared to the forecasted 53.8, suggesting strong growth within the services sector.<br /><br />"During October, the Indian services sector experienced strong expansions in output and consumer demand, as well as job creation, which achieved a 26-month high," said Pranjul Bhandari, Chief India Economist at HSBC.<br /><br />The sector saw increased business activity across multiple fronts, with export sales showing significant growth and companies reporting stronger demand from international markets including Africa, Asia, the Americas, the Middle East, and the UK.<br /><br />However, industry experts remain cautiously optimistic about the sector's prospects. Suman Chowdhury, Chief Economist at Acuité Ratings &amp; Research, noted that while the October recovery is promising, several factors warrant careful monitoring.<br /><br />“The recovery in the PMI indices in October 2024 is promising for the second half of the fiscal after the dip in several high-frequency indicators in September 2024. Industrial and service activity has expectedly received a boost from the anticipated spike in consumption demand in Q3 FY25, driven by the festivities and the marriage season," she said. <br /><br />Chowdhury added that it will be crucial to monitor the sustainability of these PMI indices at these elevated levels, given the reported weakness in urban demand in Q2 as flagged by FMCG companies. She also noted that potential increases in wholesale and core retail inflation, combined with higher input costs and wage pressures, could delay expected interest rate cuts. RBI governor Shaktikanta Das also noted that inflation and CPI figures for October might be elevated, pushing ahead any chances of interest rate cuts in the near future. <br /><br />Acuité Ratings &amp; Research maintains its GDP growth forecast at 7.0% for FY25 while acknowledging the multiple downside risks that will require close observation in the coming months.<br />

India's Services Index jumps to 58.5 in October as employment grows the fastest in 26 months

<div type="image" title="Companies are embracing the unbossing trend" msid="113256383" hostid="261" sizebytes="1440779"></div><br />If there’s one thing both a productive team member and an underperformer hates in the corporate world, it’s being micromanaged. Now, imagine a workplace where the boss isn’t calling all the shots. Instead, everyone has a voice, and innovation flows freely. The recent corporate trend of "Unbossing" promises to do just that, empowering employees by eliminating the heavy hands of hierarchy. <br /><br />Sounds too good to be true? Well, globally, not just the new-age start-ups, but dozens of major corporations have embraced this trend and trimmed their middle management.<br /><br /><h2>Managers managing managers — no more!</h2>In January last year, <keyword id="399907" type="General" weightage="20" keywordseo="META" source="Orion">Meta</keyword> CEO Mark Zuckerberg made headlines for declaring 2023 as the “year of efficiency” and saying that he doesn’t want a management structure that's just “managers managing managers”.<br />        <div type="image" title="Meta CEO Mark Zuckerberg" agency="ANI" msid="113256403" hostid="261"></div><br />The same month, it was also reported by Command Line that Meta's chief product officer Chris Cox, had shared a post on the company's communication platform, Workplace, highlighting the necessity to "flatten" the organisation's structure. What followed was reports of Meta slashing middle management roles. Gradually, other companies like Shopify, Bayer, and Cisco began making headlines for showing the exit door to some of their middle managers.<br /><br />Loosely, unbossing is essentially cutting down the middle management roles. It cuts significant costs for the company and the new-age workforce also endorses the trend as efficient in enabling faster decision-making and innovation. However, critics argue this trend also limits the extent of mentorship that the younger generation receives while entering the workforce, which often remains an intangible value if your boss turns out to be a good mentor.<br /><br />Therefore, for some, it’s not about firing the middle management, but just another leadership philosophy on how leaders (and ‘bosses’) should conduct themselves. This approach advocates bosses working along with the team as a part rather than shouting instructions from the top.<br /><br />Whatever one’s understanding, this trend of “Unbossing” appears to be taking corporate America by storm in 2023, as evidenced by hundreds of media reports highlighting the same. Overall, most agree that the trend is restructuring organisational hierarchy to enable direct communication between employees and leaders.<br />Cut to 2024, this trend is still prevalent and making headlines. A Bloomberg report recently said that Georges Elhedery, the incoming CEO of HSBC Holdings, might also consider plans to streamline the company's operations by reducing layers of middle management.<br />But what’s the scenario in India? Are Indian companies ready to ditch the old-school approach and adopt this new way of working? Let’s dive in and see what the experts have to say!<br /><br /><h2>Layoffs to impact senior professionals: Naukri.com survey</h2>A survey by job portal Naukri.com early last year had suggested that recruiters in India expect a decline in layoffs during the first half of 2023. The survey, which included responses from 1,400 recruiters and consultants across ten industries, revealed that only 4 percent of participants anticipated layoffs to be the main focus of hiring activities within their organisations.<br /><br />However, the survey also highlighted that information technology roles and senior professionals were likely to be the most affected by hiring adjustments. About 20 percent of recruiters predicted that layoffs would predominantly impact senior professionals, while freshers are expected to face the least disruption from these hiring corrections. Interestingly the survey came around the same time when the Unbossing trend had begun picking up pace abroad.<br /><h2>Layoffs at Wipro, <keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword> and Collegedunia</h2>In January this year, Wipro India was in the limelight for laying off hundreds of its mid-level executives. The company reportedly culled many jobs as part of its strategy to improve margins. An ET report citing two sources familiar with the situation had said that the leading Indian IT firm reduced mid-level roles at its onsite locations.<br />"Notices began being issued earlier this month, and hundreds of mid-level executives onsite are being let go," one source revealed. Another source added, "They have costly resources onsite in Capco, and although growth is returning, it's not sufficient. Aparna Iyer, Wipro's chief financial officer, has been tasked with delivering better margins this quarter."<br />        <div type="image" title="Amazon decided to lay-off middle managers in May" msid="113256170" hostid="261"></div>Then in May, Amazon also decided to reduce layers of middle management within its customer service divisions as part of an organisational restructuring, a Fortune report had said.<br />The cuts impacted over 100 customer service managers in Level 5 and Level 6 middle management roles, both in call centres and virtual positions, primarily based in the U.S. and India.<br />Not just large tech companies, startups too seem to be adapting the <keyword id="23125775" type="General" weightage="100" keywordseo="unbossing-trend-in-India" source="Orion">unbossing trend in India</keyword>. Last month, educational portal Collegedunia confirmed that around 100 employees from its Study Abroad department had been given the pink slip.<br />A report in CNBC-TV18 had said that additional job cuts were happening across other departments as part of a broader reorganisation. The restructuring, as per the report, was aimed at automating many tasks to reduce costs. Interestingly, despite the layoffs, Collegedunia had posted 13 job openings on LinkedIn for various roles in different locations, primarily entry-level positions requiring up to two years of experience.<br /><br />"While Collegedunia is laying off several employees, it is also hiring fresh talent, allowing them to keep staffing levels up but at a lower cost," one employee told CNBC-TV18 at the time.<br /><br />Another source confirmed that while Collegedunia had been actively recruiting for some months, it has also been letting go of employees, including senior staff members with 7-8 years of experience at the company.<br /><h2>What do experts say?</h2>      <div type="image" title="Experts&amp;#39; opinion on unbossing trend" msid="113256250" hostid="261"></div>Mr. Sumit Kumar, Chief Strategy Officer at TeamLease Degree Apprenticeship, told Business Insider India, “From the perspective of HR leaders and CEOs, the strategic culling of middle management is viewed as a means to streamline operations, reduce overhead, and foster a culture of autonomy and innovation.”<br /><br />He also noted that even though employees can “exercise greater ownership and agility in decision-making” through this approach, there are also significant downsides.<br /><br />“The erosion of middle management creates a vacuum in leadership development, mentorship, and the retention of institutional knowledge, potentially leading to disengagement, a weakened talent pipeline, and misalignment with organisational objectives,” Kumar noted.<br /><br />Talking specifically about the Indian scenario, he said, “Implementing this trend in India would be a strategic move, positioning organisations to remain competitive in a rapidly evolving business environment. However, to fully capitalise on this approach, developing a more robust talent pipeline that integrates the ability to multitask at all levels is imperative. In today's landscape, leadership demands thinkers, strategic visionaries, and individuals who can execute with precision. We need to cultivate a new breed of leaders who are both thinkers and doers, capable of navigating complex challenges while driving innovation and growth. By building versatile, agile leaders through targeted talent development programs, Indian organisations can ensure they are well-prepared to thrive in a decentralised, high-performance environment.”<br />RP Yadav, Chairman and Managing Director of Genius Consultants Limited, told ET recently that the Unbossing approach simplifies hierarchies and encourages open communication between frontline employees and senior management. He had added that the concept of “the oldest in the room is always the wisest of all” is no longer applicable.<br /><br />Meanwhile, Aditya Narayan Mishra, MD and CEO of CIEL HR Services told ET that the unbossing trend is predominantly seen in tech companies, creative roles, and startups, where swift decision-making and the unrestricted exchange of ideas are crucial. For example, the tech sector often thrives with flattened hierarchies that support rapid innovation and agility, while creative industries such as advertising and media use unbossing to cultivate a more collaborative and idea-focused environment.<br /><br />Thus, the unbossing trend is gaining traction beyond global companies and is finding its way into Indian organisations as well. While this approach can streamline operations, reduce costs, and enhance agility, experts caution that it also brings challenges, such as gaps in leadership development and the loss of institutional knowledge. To fully harness the benefits of unbossing, Indian companies must focus on cultivating agile leaders who can navigate complex challenges and drive growth. By building a strong talent pipeline and fostering a culture of innovation and collaboration, Indian organisations can position themselves to thrive in a more decentralised and dynamic business environment.<br /><br /><em>Do you have insights or personal experience to s hare on layoffs, <keyword id="34447" type="General" weightage="20" keywordseo="workplace-trends" source="Orion">workplace trends</keyword>, or career changes? Contact us at businessinsider@timesinternet.in.</em><br />

SIMPLY PUT: What’s with all “Unbossing” talks? Are Indian companies also embracing this global trend?

The Prime Minister’s Internship Scheme, announced in the Union Budget 2024-25, is set to offer a tremendous opportunity for young Indians to gain hands-on experience in leading companies across diverse sectors.<br /><br />As of October 12, the portal for this ambitious initiative is open for registrations, with over 90,000 internship positions posted by top companies like <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword>, <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword>, <keyword id="19950119" type="General" weightage="20" keywordseo="Tata-Consultancy-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Consultancy Services" meta.hostid="261" meta.entityid="Tata Consultancy Services">Tata Consultancy Services</keyword> (TCS), ONGC, Maruti Suzuki, and more. Here’s everything you need to know about how to apply, the companies participating, and answers to frequently asked questions.<br /><h2>Step-by-Step Guide to Applying for the <keyword id="23273918" type="General" weightage="100" keywordseo="PM-Internship-Scheme" source="keywords">PM Internship Scheme</keyword></h2><ol><li>Visit the Official Portal: The PM Internship Scheme’s application process takes place on the official website,<a href="http://pminternship.mca.gov.in"> pminternship.mca.gov.in</a>.</li><li>Register and Set Up Your Profile: After opening the portal, you’ll need to register and fill out basic information, including educational qualifications, age, and internship preferences.</li><li>Explore Internship Listings: With over 90,000 internships available from 193 companies, you can browse listings in sectors like Oil &amp; Gas, Travel &amp; Hospitality, Automotive, Banking, and more. Each listing will provide details on job roles, skills required, and specific fields like Operations Management, Production, Maintenance, and Sales.</li><li>Apply for Your Chosen Roles: You can apply for up to five internships based on your interests, qualifications, and preferred location. The portal allows for an easy application submission and lets you track your applications.</li><li>Confirmation and Next Steps: Once you apply, download the confirmation page for reference. Internships are set to begin on December 2, 2024, so selected candidates will receive further instructions as the start date approaches.</li></ol><h2>Major Companies Participating in the PM Internship Scheme</h2>Here are some of the top companies that have already posted internships on the portal, with more joining every day:<br /><br /><ul><li>Reliance Industries Ltd.</li><li>HDFC Bank</li><li>Tata Consultancy Services (TCS)</li><li>Oil and Natural Gas Corporation (ONGC)</li><li>State Bank of India (SBI)</li><li>Maruti Suzuki India Ltd.</li><li>Jubilant FoodWorks</li><li>Larsen &amp; Toubro Ltd.</li><li>Eicher Motors Ltd.</li><li>Muthoot Finance</li></ul>These companies are providing internships across over 20 fields, covering a wide range of skills and sectors. The biggest opportunities are currently in the Oil &amp; Gas sector, followed by industries like Travel, Automotive, and Financial Services.<br />    <div type="Article" hostid="261" msid="113986236" title="Why so many entry-level jobs aren&amp;#39;t entry-level" mstype="2" mssubtype="0"></div><h2>Key Features of the Internship Scheme</h2>Under the scheme, interns will receive a stipend of Rs 5,000 per month, plus a one-time grant of Rs 6,000 to support miscellaneous expenses. These internships are available across 737 districts in all 37 states and Union Territories, making this a truly inclusive national program.<br /><br />Interns can indulge in many diverse internship roles. From operations to maintenance, sales, marketing, and production, these internships offer a variety of hands-on experiences that match real-world corporate needs.<br /><h2>FAQs about the PM Internship Scheme</h2><h5>Who is eligible?</h5>The scheme is open to Indian citizens aged 21 to 24 who are not employed full-time or enrolled in full-time study programs. Candidates in online or distance learning programs are eligible.<br /><h5>What sectors offer the most internships?</h5>The largest number of internships are in the Oil &amp; Gas, Travel &amp; Hospitality, Automotive, and Banking &amp; Financial Services sectors, with positions also available in fields like Manufacturing, IT, and Retail.<br /><h5>When do the internships start?</h5>Internships for this year will begin on December 2, 2024. The scheme aims to facilitate 1.25 lakh internships this financial year and eventually reach one crore internships over the next five years.<br /><h5>What are the application deadlines?</h5>The portal is open from October 12 for candidates to start applying, with companies continuing to post positions as the scheme rolls out. It’s recommended to apply early, as some positions may fill up quickly.<br />    <div type="Article" hostid="261" msid="114029056" title="Read 5 résumés that helped techies land $300,000-plus jobs at Google, Meta, Amazon, and Salesforce" mstype="2" mssubtype="0"></div><br />

PM Internship Scheme finally launched — here’s how you can apply to work with Reliance, TCS, SBI and more!

<keyword id="21607466" type="General" weightage="20" keywordseo="TVS-Credit-Services-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="TVS Credit Services Ltd" meta.hostid="261" meta.entityid="TVS Credit Services Ltd">TVS Credit Services Ltd</keyword> has reported a 33.43 per cent rise in its standalone net profit for the January-March 2024 quarter at Rs 148.29 crore, on account of an increase in demand.<br /><br />The city-based <keyword id="20208728" type="General" weightage="20" keywordseo="non-banking-financial-company" source="keywords">non-banking financial company</keyword> had registered a standalone net profit of Rs 111.13 crore, during the corresponding quarter last year. For the financial year ending March 31, 2024, the net profit of the company surged to Rs 571.83 crore, from Rs 388.68 crore a year ago.<br /><br />The standalone total revenue from operations grew to Rs 1,517.50 crore, from Rs 1,234.60 crore in the same period last year. For the financial year ending March 31, 2024, the standalone total income rose to Rs 5,789.57 crore, as against Rs 4,147 crore last financial year.<br /><br />In a statement, the company said it continued to maintain a strong growth momentum in disbursements during FY24, primarily driven by an increase in credit demand, augmented by growth in consumption and increased distribution reach.<br /><br />The company's total Assets under Management (AUM) stood at Rs 25,900 crore in FY24. During the year ending March 31, 2024, the company added over 43 lakh new customers, taking the overall customer base to over 1.40 crore, the statement added.<br /><br /><b>SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-up-8-5g-smartphones-account-for-over-70-of-shipments/articleshow/110002512.cms" target="_blank"></a></b><br /><br /> <b><a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-up-8-5g-smartphones-account-for-over-70-of-shipments/articleshow/110002512.cms" target="_blank">Indian smartphone market up 8%, 5G smartphones account for over 70% of shipments</a></b><b><a href="https://www.businessinsider.in/sports/webstories/ipl-decoded-can-rcb-still-qualify-probabilities-of-ipl-teams-qualifying-for-the-playoffs/slidelist/109984180.cms" target="_blank"></a></b><br /><br /> <b><a href="https://www.businessinsider.in/sports/webstories/ipl-decoded-can-rcb-still-qualify-probabilities-of-ipl-teams-qualifying-for-the-playoffs/slidelist/109984180.cms" target="_blank">IPL decoded: Can RCB still qualify? Probabilities of IPL teams qualifying for the playoffs</a><a href="https://www.businessinsider.in/business/auto/news/2024-maruti-suzuki-swift-launched-in-india-starting-at-6-49-lakh/slidelist/109979040.cms" target="_blank"></a></b><br /><br /> <b><a href="https://www.businessinsider.in/business/auto/news/2024-maruti-suzuki-swift-launched-in-india-starting-at-6-49-lakh/slidelist/109979040.cms" target="_blank">2024 Maruti Suzuki Swift launched in India starting at ₹6.49 lakh</a></b><br />

TVS Credit posts 33.43% rise in Q4 PAT at ₹148.29 crore

After years of navigating regulatory challenges, <keyword id="19903807" type="General" weightage="20" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword>'s <keyword id="20034982" type="General" weightage="20" keywordseo="satellite-internet" source="keywords">satellite internet</keyword> project, <keyword id="20034452" type="General" weightage="100" keywordseo="Starlink" source="keywords" meta.keywordsubtype="org" meta.entityname="Starlink" meta.hostid="261" meta.entityid="Starlink">Starlink</keyword>, is on the verge of officially entering the Indian market. A recent decision by the Indian government to allocate satellite spectrum through administrative means, rather than auctioning it, has paved the way for Starlink to expand its global reach into one of the largest untapped markets for satellite-based <keyword id="21433895" type="General" weightage="20" keywordseo="broadband-services" source="keywords">broadband services</keyword>.<br /><h2>What does the decision mean?</h2>Recently, <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s Department of Telecommunications (DoT) decided to administratively allocate spectrum for satellite communication services. This move rebuffed demands from local <keyword id="22223051" type="General" weightage="20" keywordseo="telecom-giants" source="keywords">telecom giants</keyword> like <keyword id="19896911" type="General" weightage="20" keywordseo="Reliance-Jio" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Jio" meta.hostid="261" meta.entityid="Reliance Jio">Reliance Jio</keyword> and Bharti Airtel, which lobbied for an auction-based approach, arguing it would create a level playing field. Instead, the government followed the global norm of administrative allocation, which Musk has publicly supported as the standard for satellite communications worldwide.<br /><br />This administrative route means Starlink and other satellite internet providers, such as <keyword id="20561894" type="General" weightage="20" keywordseo="OneWeb" source="keywords" meta.keywordsubtype="org" meta.entityname="OneWeb" meta.hostid="261" meta.entityid="OneWeb">OneWeb</keyword> and <keyword id="20045803" type="General" weightage="20" keywordseo="Jio-Satellite-Communications" source="keywords">Jio Satellite Communications</keyword>, can now gain access to satellite spectrum without competing in costly auctions. The pricing of the spectrum will still be regulated by the Telecom Regulatory Authority of India (TRAI), ensuring fairness.<br /><h2>Starlink’s history in India</h2>Starlink has long been eyeing the Indian market due to the country’s large rural population, many of whom lack reliable internet connectivity. Initially, Starlink began offering pre-orders for its satellite-based internet services in 2021. However, the company ran into regulatory hurdles and was forced to refund customers after the Indian government instructed it to comply with local laws before accepting bookings. Since then, Starlink has been working behind the scenes to secure the necessary approvals.<br />    <div type="Article" hostid="261" msid="114243497" title="India set to lead global 6G revolution: Telecom Minister Jyotiraditya Scindia" mstype="2" mssubtype="0"></div>This recent shift in policy could finally allow Starlink to enter the market officially, a significant victory after nearly three years of attempts.<br /><h2>Musk’s comments</h2>Elon Musk has been vocal about his support for administrative <keyword id="20926400" type="General" weightage="20" keywordseo="spectrum-allocation" source="keywords">spectrum allocation</keyword>, calling any move to auction satellite spectrum "unprecedented." He believes that auctioning spectrum reserved for satellite communications, as was lobbied for by Mukesh Ambani’s Reliance, could limit the ability of satellite providers like Starlink to offer affordable services.<br /><br />The introduction of Starlink into India’s internet landscape is expected to revolutionise connectivity in rural and underserved areas. Starlink’s low-Earth orbit (LEO) satellites promise high-speed broadband services in regions where laying fiber or other traditional infrastructure is either impractical or too costly. This could significantly reduce the digital divide, offering millions of Indians access to reliable internet for the first time.<br />    <div type="Article" hostid="261" msid="114250683" title="We&amp;#39;re about to enter the Digital Dark Ages" mstype="2" mssubtype="0"></div>While the decision to allocate spectrum administratively is a win for Starlink, it faces competition from local satellite players like Jio Satellite Communications and Airtel-backed OneWeb, which have already received regulatory clearances. The pricing model set by TRAI will be crucial in determining how competitively Starlink can operate in India. Moreover, the company will need to navigate India's complex regulatory landscape, which includes securing further clearances from various government bodies.<br /><br />Overall, the stage is set for a transformative shift in India's internet connectivity landscape, with Starlink poised to play a central role in bringing high-speed internet to even the most remote corners of the country.<br />

India sets stage for Elon Musk’s Starlink internet services to finally enter India with latest spectrum decision

US presidential candidate <keyword id="19918985" type="General" weightage="20" keywordseo="Donald-Trump" source="keywords">Donald Trump</keyword> has gone from suggesting that immigrants were poisoning the blood of the country to saying that he would welcome immigrants from “nice” countries like Denmark, Switzerland and Norway to his most recent plans of automatically granting green cards to <keyword id="22128571" type="General" weightage="20" keywordseo="foreign-graduates" source="keywords">foreign graduates</keyword> of US colleges in a rather short duration of time. Feeling a little whiplashed, anyone? <br /><br />Securing a green card in the US is a Herculean task whose difficulty is probably comparable to capturing and bringing back Cerberus. And this legal permanent residence, which can sometimes take decades, is only the first step to becoming a US citizen. Many Indians have tried, whether it’s through residing and working for decades, navigating rather lengthy paperwork or marrying someone who is already a US citizen. Sadly, many have failed too.<br /><br />However, should Donald Trump become the President of the United States again (and decide to keep his word), Indian students might actually have an easier time getting a green card.<br /><br />In a surprising shift from his previous stance on immigration, former President Donald Trump has unveiled a bold plan to automatically grant green cards to foreign graduates of US colleges if re-elected. This announcement, made during a podcast interview with Silicon Valley investors, marks a departure from Trump's traditionally tough rhetoric on immigration.<br /><br />During the podcast hosted by Chamath Palihapitiya and others, Trump expressed his commitment to retaining talent educated in American universities. He argued passionately for granting green cards as a standard benefit for graduates, regardless of the institution they attended. Trump emphasised that this policy should encompass graduates from renowned institutions like Harvard and MIT as well as from junior colleges across the country.<br /><br />“It’s so sad when we lose people from Harvard, MIT, the greatest schools, and lesser schools that are phenomenal schools also,” Trump lamented on the All-In Podcast. “I think you should get, automatically, as part of your diploma, a green card to be able to stay in this country and that includes junior colleges, too.”<br /><br />A green card affords its holder permanent residency rights in the United States and represents a crucial step towards citizenship. Trump's proposal, if enacted, could potentially introduce hundreds of thousands of new applicants for citizenship annually.<br /><br />Adding to the exodus of Indians who have already migrated to the US, over 200,000 Indian nationals are enrolled in institutes across the US in 2024, setting a new record. In fact, the significant surge in Indian students seeking education in the country between 2022-23 represented an unprecedented 35% increase from the year before that.<br /><br />The former US president specifically mentioned India and China, highlighting how talented individuals were unable to stay in the US because of current <keyword id="22151110" type="General" weightage="20" keywordseo="visa-policies" source="keywords">visa policies</keyword>. We can see how this may show him in a favourable light for green card aspirants. And while we’re not one to look a gift horse in the mouth, it is important to remember that Trump has made his discriminatory nature very public in several instances.<br /><br />Immigration has been a hot topic in the US political arena for decades. However, in recent years, the political right and others have been more divided than ever on this issue. Republicans have been calling for stringent immigration policies and strict border protections. Therefore, even if Trump does deliver what he promises, the packaging will most likely have fine print that might continue to make it difficult for students to attain green cards. <br /><br />In fact, the presidential candidate’s campaign press secretary, Karoline Leavitt, has already clarified that Trump's proposal would only apply to thoroughly vetted college graduates who can “make significant contributions” to America and would not undercut American wages or workers. <br /><br />She emphasised that Trump has outlined the most aggressive vetting process in US history to exclude "all communists, radical Islamists, Hamas supporters, America haters and public charges."<br /><br />Anyhow, Trump’s proposal starkly contrasts with Trump's previous hardline stance on immigration, which had been a cornerstone of his political platform. During his presidency, Trump advocated for stringent immigration policies, including the largest deportation campaign in US history, aimed at undocumented migrants, and building a wall on the southern borders of the country.<br /><br />Trump intensified restrictions on legal immigration amid the pandemic and his final year in office. He proposed halting all immigration to the US and deporting foreign students who didn't attend some in-person classes. A month before the 2020 election, Trump once more moved to tighten regulations on the <keyword id="20773661" type="General" weightage="20" keywordseo="H-1B-visa" source="keywords">H-1B visa</keyword> program.<br /><br />He has also criticised the H-1B visa program, which tech companies favour for hiring foreign skilled workers, as detrimental to American prosperity. The H-1B visa is a non-immigrant visa allowing US firms to employ foreigners in specialised occupations requiring theoretical or technical expertise. <br /><br />At a recent campaign event in Wisconsin, Trump criticised Biden's immigration policies, particularly lambasting a new program allowing undocumented spouses of US citizens to apply for permanent residence without leaving the country. Trump characterised immigration under Biden as an "invasion" and argued against discussing amnesty, urging instead for measures to halt what he perceives as an influx of unauthorised migrants.<br /><br />Estimates from the Department of Homeland Security suggest that approximately 11 million migrants currently reside in the US without authorization, a statistic that has been central to Trump's arguments against leniency in immigration policy.<br />

Donald Trump strikes again: Ex-President proposes automatic green cards for foreign graduates of US colleges

Tata Consultancy Services has topped the <keyword id="28120" type="General" weightage="20" keywordseo="linkedin" source="Orion">LinkedIn</keyword>'s latest list of top companies to work for in India, followed by <keyword id="6370971" type="General" weightage="20" keywordseo="accenture" source="Orion">Accenture</keyword> and <keyword id="28721" type="General" weightage="20" keywordseo="cognizant" source="Orion">Cognizant</keyword> in the second and third place respectively. Professional networking platform LinkedIn on Tuesday released the 2024 Top Companies list for India wherein <keyword id="6357647" type="General" weightage="20" keywordseo="it-companies" source="Orion">IT companies</keyword> bagged the top three ranks, while <keyword id="6354241" type="General" weightage="20" keywordseo="financial-services" source="Orion">financial services</keyword> firms dominated the list with 9 out of 25 companies from this sector. <br /><br /> The 8th edition has derived insights from LinkedIn data, and lists the top 25 large companies, 15 best mid-size companies, and provides insights on in-demand skills, top locations, and the largest job functions within these companies. <br /><br /> Amongst large companies (500+ employees in India), Tata Consultancy Services retained its top spot this year, followed by Accenture and Cognizant. <br /><br /> Continuing the trend from last year, financial services dominated the 2024 list with 9 out of 25 companies from this sector including Macquarie Group (4th place), Morgan Stanley (5th), and JPMorgan Chase and Co (6th), LinkedIn said. <br /><br /> Software-as-a-service (SaaS) platform Lentra ranked first on the list of top mid-size companies list (250-500 employees), followed by Indian online travel platform MakeMyTrip. <br /><br /> The list also featured fashion and beauty retailer Nykaa and fantasy sports platform Dream11, showcasing the wide range of opportunities available in diverse industries for job seekers in India. <br /><br /> "The in-demand skills that the top companies are looking for in the financial services sector include investor relations, capital markets, and investment banking. Companies in the technology sector are looking for skills such as enterprise software, data storage technologies, software development life cycle (SDLC), and artificial intelligence (AI)," the data revealed. <br /><br /> Revenue analysis, nonprofit management, and mobile application development are some of the other skills that are witnessing a surge in demand, it added. <br /><br /> Silicon valley of India, Bengaluru was named the top location where these top companies are based and looking to hire talent, followed by Hyderabad, Mumbai Metropolitan Region, and Pune. <br /><br /> LinkedIn said the ranking of companies is based on eight pillars that have been shown to lead to career progression such as the ability to advance, skills growth, company stability, external opportunity, company affinity, gender diversity, educational background, and employee presence in the country.

Tech firms TCS, Accenture, Cognizant lead LinkedIn's top large companies list

In an era where customer experience is a primary business differentiator, the role of service hubs has evolved from merely answering calls to becoming innovation centers. With the infusion of advanced technologies like <keyword id="107950" type="General" weightage="20" keywordseo="artificial-intelligence" source="Orion">Artificial Intelligence</keyword> (<keyword id="6355999" type="General" weightage="20" keywordseo="AI" source="Orion">AI</keyword>) and Generative AI (Gen-AI), the service hub industry is now undergoing a transformation that promises to redefine customer interactions, according to experts. <br /><br />“The nature of the industry will change. I think even calling it <keyword id="19945906" type="General" weightage="20" keywordseo="customer-service" source="keywords">customer service</keyword> or service industry may be a very different outlook 5 years from now,” said Sameer Bapat, SVP and COO of Cognizant IOA, during a panel discussion on “Revolutionsing Customer Experience Innovating Service Hubs Through Technology,” hosted by Business Insider India.<br /><br />Leaders in the industry believe that India is entering the golden age of customer service, one powered by data-driven insights, AI-driven empathy, and evolving human-machine collaboration.<br /><br />“The net amount of venture capital and private equity capital that you’re going to see in the customer service industry going forward is going to 5-10x of what it has been in the last 5 years,” predicted panelist Vijay Narsapur, SVP and Business Head of Infosys BPM.<br /><br /><div type="Youtube" id="E23CeECUh9A" title="Revolutionizing Customer Experience: Innovating Service Hubs Through Technology" thumbUrl="https://i.ytimg.com/vi/E23CeECUh9A/mqdefault.jpg"><url><![CDATA[https://www.youtube.com/watch?v=E23CeECUh9A]]></url></div><br /><h2>The evolution of service hubs: More than customer service</h2>No longer just centers for addressing customer complaints or technical issues, today’s service hubs are integrating innovative technologies to become the nerve center of business operations. According to Sanjay Kukreja, Global Technology Head at Eclerx, tools like data engineering and cloud computing have shifted customer service into real-time interactions, allowing businesses to assist customers faster and more efficiently than ever before.<br /><br />For Narsapur, service hubs are now the lifeblood of the business process management (BPM) industry. End customers have become increasingly comfortable interacting with AI and automated systems. However, they still crave human connection, especially when complex or emotionally charged issues arise. Narsapur points out that this blending of technology and human touch is crucial for refining the customer journey. As businesses scale, service hubs are expected to balance these elements more tightly to deliver both efficiency and empathy.<br /><br /><h2>AI and Gen-AI: Disruptors or Enhancers?</h2>Arguably, the most significant driver of change in the service hub industry has been the integration of AI and Gen-AI.  Bapat explains that these technologies have transformed how service hubs operate. Automation tools have led to productivity gains ranging between 20% to 60%, primarily by streamlining mundane tasks, improving scalability, and delivering more personalized customer interactions. This isn’t just an incremental improvement—it’s a deep, domain-led transformation of how companies interact with their customers.<br /><br />But, as Abhinandan Jain, Chief Growth Officer at Startek, notes, AI doesn’t just enhance efficiency—it also amplifies empathy. Service hubs are learning how to use AI as an "empathy amplifier," where AI-driven systems handle routine queries, and human agents step in for more complex, emotionally charged interactions. This helps agents focus on delivering the high-touch experiences customers expect when they escalate an issue to a real person.<br /><br />While there has been some anxiety surrounding AI replacing jobs, the experts argue that this technology will instead create more high-value roles. ““There is going to be an increase of anywhere between 2x to 5x in the number of jobs that are going to be created in this particular industry,” said Narsapur.<br /><br />For example, there will be an increasing demand for professionals skilled in data science, machine learning, and algorithm management to maintain and improve AI systems. According to a <a href="https://www.mckinsey.com/mgi/our-research/generative-ai-and-the-future-of-work-in-america">McKinsey</a> report, AI will automate 25-30% of jobs in customer service, but the technology will also create new roles in AI supervision, data analysis, and customer experience management.<br /><br /><h2>Data-driven insights and the role of <keyword id="23232621" type="General" weightage="20" keywordseo="CRM-tools" source="keywords">CRM tools</keyword></h2>One of the most promising developments in the service hub sector is the increasing reliance on data to drive customer interactions. Jain explains that service hubs are now equipped with sophisticated Customer Relationship Management (CRM) tools that can mine both structured and unstructured data, enabling companies to gain a holistic view of customer behavior. This level of insight allows businesses to not only address customer queries more efficiently but also predict future needs, making the customer journey more proactive than reactive.<br /><br />These CRM platforms are evolving, too. Narsapur notes that many service hubs, particularly in industries like banking and telecom, now use platforms that integrate various aspects of customer interaction, from onboarding to relationship management. These platforms provide a unified view of customer interactions, allowing agents to access the information they need quickly, which ultimately drives faster resolution times and higher customer satisfaction.<br /><br />A <a href="https://www.gartner.com/en/newsroom/press-releases/2021-01-12-gartner-predicts-80--of-customer-service-organization">Gartner</a> study revealed that by 2025, 80% of customer service interactions will be handled by AI and CRM systems, up from 52% in 2020.<br /><br /><h2>The economic impact of AI on service hubs</h2>The rise of AI and Gen-AI is also fueling an economic boom in the service hub sector. Jain predicts that the influx of venture capital and private equity in AI research for customer service hubs will increase five- to ten-fold in the coming years. This investment is primarily driven by the need for businesses to remain competitive in an increasingly tech-driven market. The economic growth potential is massive, especially in regions like India, where the talent pool for AI and data science is unmatched.<br /><br />Kukreja echoes this sentiment, noting that India’s service hubs are well-positioned to lead this transformation due to their depth of talent in areas such as data engineering, mathematics, and AI development. This gives Indian service hubs a competitive edge as companies look to scale their customer service operations with tech-driven solutions.<br /><br />Global spending on Gen-AI is expected to reach $26 billion by 2027, with Japan and India set to become the most rapidly expanding markets in the forthcoming years, according to <a href="https://www.idc.com/getdoc.jsp?containerId=prAP52048824">IDC</a>.<br /><br /><h2>What lies ahead for service hubs?</h2>As we look to the future, the role of service hubs will likely expand even further. Narsapur warns that while platforms and AI will drive efficiency, businesses should not rely solely on technology. Competitive advantage will come from the integration of human expertise, technology, and industry-specific solutions. Different sectors, such as banking, telecom, and retail, each have unique needs that service hubs must adapt to in order to provide effective, personalized customer experiences.<br /><br />AI will play a central role in this transformation. But as Jain points out, it won’t replace human agents entirely. Instead, it will coexist with them, moving people up the value chain to focus on higher-value tasks. AI will handle the routine, while humans will step in where emotional intelligence and complex problem-solving are required.<br /><br />In the end, the future of service hubs is not just about technology; it’s about blending tech and humanity in a way that elevates customer experiences to new heights.<br /><br />We are at the dawn of a new era for customer service hubs. The infusion of AI and Gen-AI, along with data-driven insights and sophisticated CRM tools, is transforming the industry from the ground up. Far from being a threat to jobs, AI will create new opportunities, leading to a more dynamic, efficient, and empathetic customer experience. With significant economic growth on the horizon, particularly in regions like India, the service hub industry is set to play a pivotal role in the future of business. The golden age of customer service is here, and the best is yet to come.<br /><br /><strong><em>This article is part of a four-part webinar series in partnership with nasscom. These monthly webinars aim to delve deep and offer insights into the evolving BPM landscape. You can watch the full video of the second session </em><a href="https://www.youtube.com/watch?v=E23CeECUh9A"><em>here</em></a></strong><em><strong>.</strong></em><em><br /></em><br /><em>Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in</em><br />

You Searched For "Indian IT services companies" and got 10 results

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