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There was a time when Bengaluru became the start-up city as well as the hub of several multinational companies, because of the suitable conditions that this coming-of-age city offered. However, worsening traffic conditions in the city and government’s lethargic attitude towards taking any steps to improve these conditions have forced Bengaluru’s outer ring road (ORR)-based MNCs to look outside the city for their next round of expansions. 
 
Apparently, traffic has resulted in these companies facing productivity loss, estimated at hundreds of crores. Factors that are forcing companies to think of downsizing in Bengaluru also include road-safety issues, mental and physical stress and resulting health issues in their employees. 
 Three months ago, a group of heads of companies based along ORR met <keyword id="6354466" type="PERSON" weightage="100" keywordseo="Siddaramaiah">Siddaramaiah</keyword>, the CM of Karnataka, to find a solution to the increasing traffic; however, two meetings and three follow-up letters have not resulted in anything substantial. 
 
If these companies shift base outside Bengaluru, the city stands at a risk of losing thousands of crores in investment, not to forget the dent to its reputation as a tech and startup hub. 
 
Cities that emerge as an option for these companies include Pune, Hyderabad and Chennai, where traffic problem exists but much lesser as compared to Bengaluru. 
 
<a href="https://workfolio.files.wordpress.com/2011/02/airport-e1297718137976.jpg">Image source</a>

Bengaluru’s traffic nightmare is turning MNCs away

Global energy giant <keyword id="46532" type="COMPANY" weightage="80" keywordseo="Shell">Shell</keyword> has chosen <keyword id="6354321" type="CITY" weightage="80" keywordseo="Bengaluru">Bengaluru</keyword> for setting up its largest captive unit or global offshore delivery centre. The unit would provide more than 5,000 jobs in the Silicon Valley. 
 

	As per an Economic Times report, the new in-house global information technology centre, The Shell IT Centre Bengaluru, would be used to provide IT services to Shell's businesses including upstream oil and gas production, marketing and other projects. 
	 

	"The company has a large IT set-up in Malaysia, US and UK and will be moving all its global IT jobs to Bengaluru," said two people in direct knowledge of the development. 
	 

	In an email response the company confirmed the move and said: "We believe that India's significant IT talent will improve our ability to provide top-quality IT project delivery and selected operations support around the world.” 
	 

	Shell further added: "We anticipate no direct impact to Shell staff in 2015 as a result of this proposed change. Beyond then, given our strategic intent, it is expected that some impact on staff is likely as a result of this activity. We do not yet know the extent of this impact." Shell would acquire a 3, 50,000 sq. ft. space in <keyword id="1083300" type="ORGANIZATION" weightage="80" keywordseo="RMZ">RMZ</keyword> Eco World in the first phase. Finally, the energy giant plans take up 8, 00,000 sq. ft by 2018 to provide IT support to all its business verticals. "The deal between RMZ and Shell was closed on Thursday, <keyword id="6354553" type="COMPANY" weightage="60" keywordseo="real-estate">real estate</keyword> services firm, <keyword id="6376943" type="COMPANY" weightage="80" keywordseo="CBRE">CBRE</keyword>, was running the transaction. The proposed special economic zone building is currently under construction," said one of the persons. RMZ Eco World houses multinational companies like <keyword id="50041" type="CITY" weightage="80" keywordseo="KPMG">KPMG</keyword>, SAP, <keyword id="48670" type="CITY" weightage="80" keywordseo="Morgan-Stanley">Morgan Stanley</keyword>, ANZ and <keyword id="43706" type="COMPANY" weightage="80" keywordseo="Honeywell">Honeywell</keyword>, among others. It is located on Bengaluru's Sarjapur outer ring road. 
	 

	Meanwhile, the offshore delivery centers of multinational companies (MNCs) act as technology and business process centers for their global operations. 
	 

	Shell, the largest oil &amp; gas company in the world also operates a Business Operations Centre in Chennai that provide financial and business support to its companies worldwide. It has over 2,000 people working in Chennai. According to experts, Bengaluru has become the favourable center for global in-house centres (GIC) or captive centers for brands like Victoria's Secret lingerie, Lowe and <keyword id="159044" type="COMPANY" weightage="80" keywordseo="Baxter-International">Baxter International</keyword>. The city recorded highest increase in absorption of office space at 3.2 million ft, a 510% increase year-on-year for January to March quarter of 2015. 
	(Image: Reuters)

Coming up! The Shell IT Centre Bengaluru

With <keyword id="6355055" type="COUNTRY" weightage="20" keywordseo="USA">USA</keyword> checking upon the immigration rules and the wave of automation already hitting the shores of IT hubs in India, instances of IT employees being handed over pink slips are rampant. While a year back, pink slips were given to employees for under-performance. But not now! Companies are asking employees to take four months’ salary and resign. In worst cases, they are being forced to put down their papers giving two months’ notice. Not just that, some tech employees in Electronic City <keyword id="6354321" type="CITY" weightage="100" keywordseo="Bengaluru">Bengaluru</keyword> are in the fear that those who don’t resign would be terminated by June. Besides, there hasn’t been any increment this year. Bengaluru has got the glory of IT capital since the 80s. Branded as Indian <keyword id="6357722" type="COMPANY" weightage="20" keywordseo="silicon-valley">Silicon Valley</keyword>, Karnataka hosts around 3,000 IT companies, of which 750 are MNCs. Swanky offices, plush buildings and fat pay checks have made Indian middle class hooked to pursue career in IT soon after graduation. The city that shaped itself as a job creator is now facing the brunt of reality. Cognizant, which houses 1,50,000 Indian employees in its Bengaluru chapter has reports of 6000-10000 people being downsized. "Being the IT hub with many jobs in software services, Bengaluru will be the most affected in the current round of layoffs,” <keyword id="2421766" type="UNKNOWN" weightage="20" keywordseo="Alka-Dhingra">Alka Dhingra</keyword> of Team Lease employment solution told The Economic Times. While spokesperson of various IT companies unanimously site Visa regulations and automation responsible for job loss, employees refuse to buy. An IT company employee told ET that the number of visas being issued is the same as before. Moreover the threat of automation, he said, is for BPO sector and manufacturing units and not as much to the core developers. The inference that can be drawn is the companies are downsizing to increase their profit margins. Besides, they want freshers to do the same type of job than mid-level executives, which would again save these companies thousands of dollars. A software company employee, in conversation with the ET alleged that the HR department of his company has threatened to snatch his id card if he doesn’t resign in a week. He is now planning to relocate to other cities for jobs. IT industry is no more a luring sector for freshers who thought landing on a job is easier than they think. “One needs to keep in mind that there may also be a bigger reverse migration from the West, following incidents of racism and terror attacks. Additionally, any crisis management strategy would be hampered by the lack of data. Currently, we don't know how big the crisis is” Narender Pani, professor at the National Institute of Advanced Studies told the ET.

Identity cards snatched and forced to leave: The IT company woes in Bengaluru are now real

Potholed roads, traffic jams and water crisis are not deterring companies and people to move to Bengaluru. 
 
World’s big brands are eyeing the IT hub due to availability of young, technologically skilled population and Bengaluru has attracted of over $1 billion investment in the past 18 months. 
 
Moreover, India's tech-based startups have either moved or expanded into Bengaluru and the trend is accelerating as the world gets redefined by new technological phenomena such as smartphones, social media, artificial intelligence, et al. 
 
Economic Times reported that Bengaluru accounted for more than a third of the over 1,000 global in-house centres (GICs) -facilities that combine technology development with back-office functions -of MNCs in India. But the spate of new announcements of GICs over the past 18 months suggests a fresh urgency. Some of the proposed investments are massive. 
 
One of the world's biggest companies, US oil and gas major Exxon Mobi, is making a $400-500 million (Rs 2,500 crore-Rs 3,150 crore) investment in Bengaluru to establish a technical and business support services centre. 
 
The financial daily reported that derivatives marketplace CME Group, which handles 3 billion contracts worth approximately $1 quadrillion (that's 1 followed by 15 zeros) annually, is said to be setting up a GIC in Bengaluru. 
 
JCPenny, the American apparel and home furnishing retailer, L Brands, makers of lingerie brand Victoria's Secret, and Lowe's, the US-based home improvement and appliance store chain, have established technology captive centres here recently. 
 
(Image: Indiatimes)

Look what’s driving investors to India’s IT hub, Bengaluru

The 'Great Place To Work Institute' today released the second annual list of India's Best Companies to work for in IT &amp; ITeS segment. <keyword id="145865" type="COMPANY" weightage="20" keywordseo="Adobe-Systems">Adobe Systems</keyword> India, <keyword id="6355629" type="CITY" weightage="100" keywordseo="Google">Google</keyword> India, and <keyword id="10387" type="CITY" weightage="100" keywordseo="Microsoft">Microsoft</keyword> India are among the 50 Best IT &amp; ITeS workplaces in the country, according to a survey. The list was based on an assessment of employee perceptions gauged using the engagement survey and an audit of company practices. Some of the other companies on the list include, Aegis, Global Analytics India, Happiest Minds Technologies, Hitachi Data Systems India, Kronos Incorporated, NetApp India, Pitney Bowes Software India and Shriram Value Services. Multi National Companies (MNCs) dominated the list. Around 47 per cent of MNCs featured among the Best in IT &amp; ITeS companies compared to just 20 per cent of non-¬MNCs making to the list. 
 
Other key companies to be featured in the list include SAP India, Intel India and PayPal. Employees from MNCs express far more positive perceptions about the workplace, compared to those from non¬MNCs. Unique benefits, work¬life balance, and fair share of profits were the top three areas where MNCs fared better over Indian companies, the report said. 
 Meanwhile, the startups (less than 5 years of operation) offered a far superior experience in all areas covered in the survey compared to more established organisations, with the top three areas being celebrations at work, tolerance to mistakes, and accessibility of managers. Even though more than 80 per cent of the companies had more than 5 years of operations under their belt, these findings are compelling considering the significant number of jobs created by startups being around 80,000 in 2014-¬15, according to a <keyword id="6372077" type="CITY" weightage="20" keywordseo="Nasscom">NASSCOM</keyword> study. "In our survey this year, the IT &amp; ITeS sector accounted for nearly one¬third of the companies we studied across the Indian industries. The industry's clear focus on creating a great employee experience is therefore striking," Prasenjit Bhattacharya, CEO, Great Place To Work Institute India said. 
 Dubbed as India's Silicon Valley, <keyword id="6354321" type="CITY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword> was unsurprisingly the most popular location for IT companies assessed. The city also accounts for the headquarters of nearly one¬quarter (24 per cent) of the best workplaces this year, including Happiest Minds, Intuit, Cisco, Salesforce and EMC India in the study. Bengaluru, Noida, Chennai, Mumbai, and Gurgaon together account for 64 per cent of the total study population, and more than three¬fourths (76 per cent) of the best companies in IT &amp; ITeS. Top 50 companies were identified based on comprehensive country¬wide engagement survey of over 36,500 employees from 145 IT &amp; ITeS companies and employee engagement in the study is measured through the Trust Index and Culture Audit.

Adobe, Google, Microsoft best companies to work for in IT & ITeS segment in India

<ul><li>DCX Systems plans to raise ₹400 crore through fresh issue of shares through the IPO along with an offer for sale of ₹100 crore by promoters and existing shareholders.</li><li>The price band of the IPO is set at ₹197-207 a share.</li><li>IPO proceeds will be utilised towards debt repayment, funding working capital, investment in its subsidiary and general corporate purposes.</li></ul>The initial public offering (IPO) of Bengaluru-based company DCX Systems, a manufacturer of electronic sub-systems and cable harnesses, is set to open on October 31 and close on November 2. It plans to raise ₹400 crore through fresh issue of shares along with an offer for sale of ₹100 crore by promoters and existing shareholders. The price band of the IPO is set at ₹197-207 a share. The company has cut the fresh issue size to ₹400 crore from ₹500 crore as planned earlier. IPO proceeds will be utilised towards debt repayment, funding working capital, investment in its subsidiary and general corporate purposes. The shares of the company are currently commanding a grey market premium, or GMP, of ₹40 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. The company is primarily engaged in system integration and manufacturing a comprehensive array of cables and wire harness assemblies; and kitting. It has a manufacturing facility located at the Hi-Tech Defence and Aerospace Park SEZ in Bengaluru. The company has 26 customers in Israel, US, Korea and India, including Fortune 500 companies, MNCs and start-ups. It has clients across sectors ranging from defense and aerospace, to space ventures and railways. DCX Systems’ revenues increased three times in the last three fiscal years and profitability has gone up several times during the period. A significant portion of the company’s revenues are in US dollars through exporting products. The rupee has depreciated significantly in the last one year and is currently at its highest level. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total income </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹983 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹29.5 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹465 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹9.7 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹309 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4.5 crore </td></tr></tbody></table> DCX Systems’ order book has increased to ₹2,855 crore in 2021 from ₹1,042 crore in 2019. Bharat Electronics, Data Patterns (India), Paras Defence and Space Technologies, Astra Microwave Product and Centum Electronics are some of the peer companies for DCX Systems in the listed space. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Peer companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Income in FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% returns in 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DCX Systems </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹983 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">- </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharat Electronics </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹14,233 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">49% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Data Patterns (India) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹226 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">74% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paras Defence and Space Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹144 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-11% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Astra Microwave Product and Centum Electronics </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹651 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">32% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Centum Electronics </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹823 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.22% </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/markets-snap-7-day-rally-to-end-in-the-red-led-by-losses-in-fmcg-giants-ril/articleshow/95079624.cms">Markets snap 7-day rally to end in the red led by losses in FMCG giants, RIL</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/icici-bank-shares-hit-a-new-high-after-a-strong-q2-heres-what-the-analysts-are-saying/articleshow/95078908.cms">ICICI Bank shares hit a new high after a strong Q2 – here’s what the analysts are saying</a>

DCX Systems IPO set to open on Oct 31; grey market premium at ₹40/share

<ul><li><keyword id="15763923" type="General" weightage="20" keywordseo="Affordable-housing-supply" source="Orion">Affordable housing supply</keyword> reduced to 21% in 2022 as compared to 40% in 2019 in the <keyword id="35288" type="General" weightage="20" keywordseo="real-estate-market" source="Orion">real estate market</keyword> in India. </li><li>The <keyword id="4695749" type="General" weightage="80" keywordseo="anarock" source="Orion">Anarock</keyword> data projects that the total sales in the top 7 cities will exceed 3.6 lakh units in 2022, which is more than the 2014 peak sales of 3.43 lakh units. </li><li>Housing sales and new launches in the Jan-Sept period this year also surpassed the 2019 record with 2.73 lakh units sold and new launches at 2.65 lakh units.</li></ul>The year 2022 saw a robust growth in the housing and residential segment that helped accelerate the recovery in the overall real estate market from the pandemic-induced slump. And it was the mid-range, premium and luxury segments that led this growth while it was a lean period for affordable homes sales. As per Anarock data, in the first nine months of 2022, affordable housing supply reduced to 21% of the 2.65 lakh units launched in the top 7 cities during this period. In contrast, in the pre-Covid year of 2019, this segment had the highest supply share with 40% of the 2.36 lakh units launched in the top 7 cities that year. “Affordable housing had a lean time, with more buyers in this segment going into wait-and-watch mode; unsurprisingly, new supply in this category reduced markedly,” said Anuj Puri, chairman of <keyword id="6596330" type="General" weightage="50" keywordseo="anarock-group" source="Orion">Anarock Group</keyword>. The data further projects that the total sales in the top 7 cities will exceed 3.6 lakh units in 2022, which is more than the 3.43 lakh units sold in the previous peak year of 2014. Housing sales and new launches in the Jan-Sept period this year also surpassed the 2019 record with 2.73 lakh units sold and new launches at 2.65 lakh units, according to the Anarock data. In 2019, about 2.61 lakh units were sold, with new supply at 2.34 lakh units. Low home loan rates for most of the year and the pandemic-driven need for homeownership among people drove the growth of the real estate market. The year 2022 also saw a 5-7% rise in property rates after almost 2-3 years – however, neither this nor the increased home loan rates post the RBI rate hikes beginning May hindered the sales of residential properties. <cmsannotation type="cmsannotation" annotationid="Tier 2 and 3 market also recorded strong growth" comment="subhead" text="Tier 2 and 3 market also recorded strong growth">Tier 2 and 3 market also recorded strong growth</cmsannotation> Anarock’s consumer sentiment survey released in September found that Tier 2 &amp; 3 cities are the first preference for 25% of property seekers looking to invest in 2023. Lucknow and Ahmedabad, among all Tier 2 and 3 cities, recorded fairly decent sales and new launches in the residential segment this year.. “Many Tier 2 &amp; 3 cities are the new growth engines, where a lot of the country's real estate action will take place in the coming years. Their top favorites include Ahmedabad, Jaipur, Chandigarh, Nashik, Kochi, and Lucknow, where low property prices and improved infrastructure facilities are powerful investment magnets,” Puri further said. As per Anarock, thanks to robust sales and restricted new supply in 2022, unsold inventory in NCR reduced to 1.33 lakh units by Q3 2022-end – the lowest since 2013, when it was 1.51 lakh units. Moreover, new launches in 2022 were dominated by top developers like DLF, Godrej, M3M, Puri Constructions and Mahagun, which also helped boost consumer confidence and increase sales. <cmsannotation type="cmsannotation" annotationid="Rental property demands surged again" comment="subhead" text="Rental property demands surged again">Rental property demands surged again</cmsannotation> With more companies opening up their offices, the demand for rental properties saw a surge again. According to Puri, the rental market demand not only breached but surpassed pre-pandemic levels, rising 20-25% against pre-pandemic levels on average, with some popular societies even registering an over 30% jump in demand. Grade A developers – who are well-known developers with reputed clients like MNCs and high-networth individuals – had more market share in 2022. About 60% of the 2.65 lakh units launched in the first three quarters of the year was by branded developers - who also sold more than 55% of the 2.73 lakh units purchased in this period. Plotted developments also gained momentum in 2022, especially in south Indian cities of Bengaluru, Chennai, and Hyderabad. “Plot buyers have taken a futuristic investment perspective and are betting on the superior and safer long-term ROI (return on investment) of land over built-up properties. Many large developers catered to this demand in 2022,” said Puri. Suburbs also were also popular among homebuyers. Anarock’s consumer sentiment survey found that over 42% of the consumers continued to prefer peripheral/suburban areas where they can buy bigger homes with better lifestyle amenities at lower prices. Only 10% of respondents still chose walk-to-work city center locations, and only 23% were within the city limits, as per the Anarock consumer sentiment survey. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/med-tech-startup-that-can-detect-early-stage-dementia-raises-2-13-million/articleshow/96169184.cms">Med tech startup that can detect early stage dementia raises $2.13 million</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/bharatpe-ceo-enjoying-life-with-money-i-raised-but-fails-to-grow-company-says-ashneer-grover/articleshow/96165371.cms">BharatPe CEO enjoying life with money I raised but fails to grow company, says Ashneer Grover</a>

Mid-range, premium housing demand drive India’s residential market - Sales in 2022 to exceed 2014 peak

<ul><li>DCX Systems, Global Health, Fusion Micro Finance, and Bikaji Foods International have or will launch their issues this week.</li><li>In 2022, about 22 companies have launched their IPOs raising over ₹44,000 crore compared to 64 IPOs raising over ₹1 lakh crore in 2021.</li><li>After interest rate hikes and other macro concerns like inflation and more, <a href="https://www.businessinsider.in/business/startups/news/amid-startup-funding-crunch-udaan-raises-120-million-and-plans-ipo-after-a-year/articleshow/95122956.cms">many companies such as </a>Udaan, OYO Rooms and Byjus<a href="https://www.businessinsider.in/business/startups/news/amid-startup-funding-crunch-udaan-raises-120-million-and-plans-ipo-after-a-year/articleshow/95122956.cms"> have either delayed their IPOs </a>or postponed them.</li></ul>At a time when the stock market is on an upswing despite negative cues from global markets, the primary market in India is buzzing too. This week, four companies are launching their initial public offerings (IPOs) to collectively raise over ₹4,600 crore. DCX Systems, a manufacturer of electronic sub-systems and cable harnesses, launched its public issue on October 31. Global Health, operator of Medanta Hospitals; microfinance lender Fusion Micro Finance; and Bikaji Foods International will launch their public issues this week. In 2022, about 22 companies launched their IPOs raising over ₹44,000 crore compared to 64 IPOs raising over ₹1 lakh crore in 2021. Last year also saw many large issues like Paytm, Nykaa and Zomato. After interest rate hikes and other macro concerns like inflation and more, <a href="https://www.businessinsider.in/business/startups/news/amid-startup-funding-crunch-udaan-raises-120-million-and-plans-ipo-after-a-year/articleshow/95122956.cms">many companies such as </a>Udaan, OYO Rooms and Byjus<a href="https://www.businessinsider.in/business/startups/news/amid-startup-funding-crunch-udaan-raises-120-million-and-plans-ipo-after-a-year/articleshow/95122956.cms"> have either delayed their IPOs </a>or postponed them. In 2022, Indian benchmark indices have gained more than 2%, outperforming global peers. Domestic investors continue to infuse capital despite <a href="https://www.businessinsider.in/stock-market/news/fpis-have-sold-equities-worth-over-13000-crore-since-september-with-flows-reversing-after-the-last-us-fed-rate-hike/articleshow/95121693.cms">outflows by foreign institutional investors (FIIs) and macro concerns</a>. It has now become crucial for startups to achieve profitability before going public as investors have become very cautious about investing in loss-making startups as seen in the cases of Nykaa, Paytm and Zomato. “Last year several new public issues did not do well because of high price valuations by several companies. Investors are becoming choosy now after what happened last year, where people lost huge money to IPOs with exorbitant valuations. Comfortable valuation and business visibility are two things investors are looking at before making a decision to invest in an IPO,” Sanjiv Hota, vice president - head of research at Sharekhan, told Business Insider India. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPOs opening this week </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Start date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Close date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO size </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">DCX Systems </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">October 31 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 2 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹500 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Global Health </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 3 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 7 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> ₹2,205 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bikaji Foods </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 3 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 7 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹881 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Fusion Micro Finance </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 2 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 4 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1,103 crore </td></tr></tbody></table> <keyword id="13552162" type="General" weightage="20" keywordseo="DCX-Systems-IPO" source="Orion">DCX Systems IPO</keyword> to raise ₹500 crore Bengaluru-based DCX Systems’ ₹500-crore IPO, which includes a fresh issue of equity shares worth ₹400 crore and an offer for sale (OFS) of ₹100 crore, was launched on October 31. The price band of the IPO is set at ₹197-207 a share. The company is primarily engaged in system integration and manufacturing a comprehensive array of cables and wire harness assemblies. It has a manufacturing facility located at the Hi-Tech Defence and Aerospace Park SEZ in Bengaluru. The company has 26 customers in Israel, US, Korea and India, including Fortune 500 companies, MNCs and startups. It has clients across sectors ranging from defence and aerospace, to space ventures and railways. The IPO proceeds will be utilised towards debt repayment, funding working capital, investment in its subsidiary and general corporate purposes. <keyword id="15366973" type="General" weightage="20" keywordseo="Fusion-Micro-Finance-IPO" source="Orion">Fusion Micro Finance IPO</keyword> to open on November 2 The New Delhi-based microfinance company that provides financial services to underserved women across India opens its IPO for subscription on November 2 and closes on November 4. The price band of the IPO is set at ₹350-368 a share. The company's business runs on a joint liability group-lending model, wherein a small number of women form a group (typically comprising five to seven members) and guarantee one another's loans. The proceeds from the IPO will be utilised towards augmenting the capital base of the company. The total issue size of the IPO is ₹1,103 crore, which includes fresh issue of ₹600 crore and an offer for sale of 1.36 crore equity by the company's shareholders and promoters. <keyword id="15211795" type="General" weightage="20" keywordseo="Global-Health-IPO" source="Orion">Global Health IPO</keyword> to raise ₹2,205 crore Hospital chain Global Health that operates under the brand ‘Medanta’ will open its IPO for subscription on November 3 and close on November 7. The price band of the IPO is set at ₹319-336 a share. Global Health is backed by private equity investors such as Carlyle Group and Temasek. It operates five hospitals under the Medanta brand in Gurugram, Indore, Ranchi, Lucknow and Patna. It has another hospital under construction at Noida. The company has key specialities in cardiology and cardiac science, neurosciences, oncology, digestive and hepatobiliary sciences, orthopaedics, liver transplant, and kidney and urology. The proceeds from the IPO will be utilised towards repaying debt of its subsidiaries – Global Health Patliputra and Medanta Holdings and for general corporate purposes. The total issue size of the IPO is ₹2,205 crore, which includes fresh issue of ₹500 crore and an offer for sale of up to ₹1,705 crore via sale of 5.08 crore equity shares by the company's shareholders and promoters. Bikaji Foods ₹881 cr-IPO to open on November 3 Bikaji Foods International is a well known fast moving consumer goods (FMCG) brand that claims to be the largest manufacturer of Bikaneri Bhujia, packaged rasgulla, soan papdi and gulab jamun. Bikaji Foods’ products fall broadly into six categories – bhujia, namkeen, packaged sweets, papad, western snacks as well as other snacks, which primarily includes gift packs (assortment), frozen food, mathri range and cookies. The company sells more than 250 products under the Bikaji brand. The snack maker is backed by marquee investors like Avendus, Axis Asset Management, Lighthouse Funds, IIFL Asset Management and Intensive Softshare. The company will not receive any funds from the IPO as it is a complete offer for sale by promoters and shareholders. The price band of the IPO is set at ₹285-300 a share. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/nykaa-stock-climbs-over-5-after-it-reports-5-2-crore-profit-in-q2/articleshow/95229929.cms">Nykaa stock climbs over 5% after it reports ₹5.2 crore profit in Q2</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/amid-risks-of-a-slowdown-these-it-companies-are-best-placed-to-survive-the-storm/articleshow/95228871.cms">Amid risks of a slowdown, these IT companies are best placed to survive the storm</a>

Four IPOs to raise over ₹4,600 crore this week

<ul><li><a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink">Global Trends Festival</a> is one of the world's most prestigious events which will be live from Oct 19-23.</li><li>While nobel laureates, some of the biggest political and corporate icons will provide thought leadership, it's a great platform to network with CXOs from around the world.</li><li><a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink">Global Trends Festival 2020</a> is presented by <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://aws.amazon.com/" data-type="tilCustomLink">AWS</a>.</li><li>Get your tickets now from <a href="https://in.bookmyshow.com/events/business-insider-global-trends-festival/ET00137578" data-type="tilCustomLink">BookMyShow</a>.</li></ul> When billionaire Ajay Piramal sold his successful pharmaceutical company Nicholas Piramal to Abbot in 2010, many people were surprised. After all, he has been in this business for decades, but few remember that in the late 80s, before he purchased Nicholas Labs, he was running a textiles company and a machine tools company! Today, the $4 billion Piramal Enterprises spans sectors as varied as pharmaceutical and financial services and makes a third of its revenue outside India. The larger Piramal Group has interests in real estate and glass manufacturing as well, with offices in over 30 countries. After he completed business management from Jamnalal Bajaj Institute of Business Studies, entered the family business, his father handed him a newly acquired company called Miranda Tools to run - an experience that later helped him deal with the many companies he would acquire in his illustrious career ahead. A wide portfolio A young Piramal had initially faced many hardships including the labour troubles in the textile sector, before he made his entry into pharmaceuticals. That’s when the world saw his penchant for striking deals - a move which diversified the company across the entire range of drugs. He scooped up the domestic manufacturing plants of many multinational pharma majors like Roche, Aventis and more and it helped that back then MNCs were exiting India. Thanks to the many deals he made including buying a glass maker and bulk drug maker and by the time he sold the company, it had presence across the therapeutic range right from antibiotics to dermatological drugs to cardiovascular products. The <a href="https://www.business-standard.com/article/specials/of-mergers-and-spin-offs-198030201049_1.html">merger with Boehringer Manheim </a>added diabetics and even diagnostics range to its ever growing portfolio that helped it balance risks as a number of drugs’ prices were controlled by the government in the 2000s. The joint venture specialist Piramal also took a visionary approach to his business unlike most of his peers who were reverse engineering drugs in the domestic business earning ire from Big Pharma. Instead he struck joint ventures with MNCs like Boots and Allergan - some of whose brand rights were transferred to the business. By the time the company was sold to Abbott at a spectacular valuation which is 30 times the profit it was making, Nicholas Piramal had six Over-The-Counter brands <a href="https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/the-inside-story-of-how-ajay-piramals-pharma-empire-received-a-boost-after-the-abbott-sale/articleshow/62891694.cms">in the top sellers list </a>along with presence in every other therapeutic range. But Piramal’s move to sell to Abbot that left him with <a href="https://www.forbes.com/sites/naazneenkarmali/2014/04/17/in-a-dealmaking-spree-indian-billionaire-ajay-piramal-places-333-million-bet-on-financial-services/#2f6f7c695c7d">$1.6 billion of personal wealth</a>, was also not his career best masterstroke. That distinction is reserved to investment and exit in Vodafone India within <a href="https://www.forbes.com/sites/naazneenkarmali/2014/04/17/in-a-dealmaking-spree-indian-billionaire-ajay-piramal-places-333-million-bet-on-financial-services/#2f6f7c695c7d">two years that left </a>him with around $500 million gain with over 50% returns! He was one of the few people who would ever gain from Vodafone India, which later got mired in multiple controversies and has been struggling to survive in the recent past. It is this knack to sense opportunities quickly and clinch deals at the right time has earned him an interesting title - the <a href="https://www.business-standard.com/article/companies/is-ajay-piramal-the-warren-buffett-of-india-114041501418_1.html">Warren Buffet of India</a>. SEE ALSO: <a href="https://www.businessinsider.in/business/news/get-inspired-by-prashant-chandrasekar-the-ceo-of-us-based-stack-overflow-at-global-trends-festival-2020/articleshow/78033494.cms" data-type="tilCustomLink">Get inspired by the Bengaluru boy who is now the CEO of US-based Stack Overflow at Global Trends Festival 2020</a> <a href="https://www.businessinsider.in/business/news/deepak-parekh-chairman-hdfc-a-legend-from-indias-financial-capital-at-global-trends-festival-2020/articleshow/78012923.cms" data-type="tilCustomLink">Deepak Parekh, a legend from India’s financial capital, must be on your watchlist at Global Trends Festival 2020</a> <a href="https://www.businessinsider.in/business/news/meet-vani-kola-managing-director-kalaari-capital-the-unicorn-hunter-at-global-trends-festival-2020/articleshow/77999658.cms" data-type="tilCustomLink">Meet Vani Kola, the unicorn hunter, at Global Trends Festival 2020</a>

Don’t miss Ajay Piramal, a master deal maker with business in 30 countries, at the Global Trends Festival 2020

<ul><li>India has seen an upsurge in internship seekers as well as organisations opening up internship opportunities across various industry verticals, with applications rising 80% in a year, said a survey. </li><li>National Capital Region has been the driver of internships among the cities in India. </li><li>Indian students prefer virtual internships three times more than in-office internships. </li><li>Startups hire majority of internship seekers in India. Management and media have been the hottest sectors to enroll in, for internship.</li></ul>What was originally seen as a western concept, getting an internship before plunging into the job market, is fast gaining momentum at Indian workplaces. Over the last five years, more companies have been actively looking for intern profiles, according to a recent survey by Internshala, an online internship and training platform. Last year, India had 80% more internship applications — with 2.2 million applications received in 2018 compared to 1.27 million the previous year. The trend is in part due to more industries are looking to have fresh minds and ideas on existing projects for better productivity. 
	
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 According to the data by Internshala, India’s national capital region has been the top provider of internships, with a total of 35% internship opportunities, followed by Mumbai and Bengaluru at 20% and 15%,respectively. This includes opportunities in startups, MNCs and even government entities. In fact, a lot of aspiring interns have been enrolling in internships from two-tier cities, which clearly indicates the growing awareness around companies hiring intern profiles among the students. Student vs company perspective Startups hire the majority of internship seekers in India, striving for new and fresh ways of implementation. Looking at the growth of <keyword id="7258502" type="UNKNOWN" weightage="20" keywordseo="internships-in-india">internships in India</keyword> in last five years, Sarvesh Agrawal, CEO of Internshala told Business Insider India that “internships are finally becoming mainstream phenomenon and are no longer restricted to select few campuses and companies.” He further added that “not just college students, but even school students, mid-career professionals, and women returning to work are now taking internship route to explore their interests and build their skills.” “While on the organisation side, other than corporate; various other entities such as Government, political parties, NGOs, independent new age professionals, all are making use of interns as their workforce to bring speed and innovation to their projects.” Most in-demand roles by companies Management and media have been the hottest sectors to enroll in, for internships, at nearly 47% and 15%, respectively. More because, companies are looking for people with real-time experience in management than B-school masters. Following this is engineering and design internships. 
	
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 The profiles most looked for includes human resources, business development and web development among others. Virtual internships three times the in-office internships According to stats, more number of people have been considering virtual internships than in-office internships. Virtual internships have got three times more applications than in-office since a large chunk of students are the ones already enrolled in various courses, or prefer working from home. 
	
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 Key benefits, other than stipend Stipend or the monetary compensation has been an important factor for people taking up various internships to enhance their skills. The average stipend offered to interns was recorded as ₹7000, while the maximum stipend goes up to ₹85,000. Other than that, amid the rising concerns over unemployment and skill gap, internships have emerged as an opportunity to have a career experience at various stages — from college students to people willing to restart their career. In fact, over 46% internships, according to Internshala, have turned into pre-placement offers by the end. Internships, as a whole, have been a way to capitalize on theoretical concepts to practical implementation, even before the students complete college. See also: <a href="https://www.businessinsider.in/salaries-in-india-projected-to-rise-by-10-this-year-but-theres-a-catch/articleshow/67585991.cms">Salaries in India projected to rise by 10% this year — but there’s a catch</a> <a href="https://www.businessinsider.in/india-witnessed-its-highest-unemployment-rate-in-27-months-at-7-38-in-december-says-cmie/articleshow/67418218.cms">India witnessed its highest unemployment rate in 27 months at 7.38% in December, says CMIE</a> <a href="https://www.businessinsider.in/amid-unemployment-tensions-70-of-indian-youth-lack-awareness-of-governments-much-touted-skill-development-programme/articleshow/66600178.cms">Amid unemployment tensions, 70% of Indian youth lack awareness of government’s much-touted skill development programme</a>

India sees steep rise in internships across different industries as young graduates seek more skills: survey

Startup entrepreneurs want the Indian government to design policies that favour homegrown companies, playing the nationalism card. 
 Speaking at the Carnegie India Global Technology Summit in Bengaluru, <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>'s <keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword>, <keyword id="1543567" type="COMPANY" weightage="20" keywordseo="Bhavish-Aggarwal">Bhavish Aggarwal</keyword> of <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword>, etc said more push was required to promote Indian enterprises. 
 
"What we need to do is what China did (15 years ago) and tell the world we need your capital, but we don't need your companies,” said Bansal. 
"What's happening in both our industries (is that) there is a narrative of innovation that non-Indian companies espouse but the real fight is on capital, not innovation. The markets are being distorted by capital,” said Aggarwal. 
 
The entrepreneurs say capital inflow is quite important now and the foreign companies are burning cash in a price war. 
 
As per both of them, more American companies in India will impact job creation in India. 
 Flipkart and Ola are important in determining investor sentiment for <keyword id="982553" type="UNKNOWN" weightage="20" keywordseo="Indian-startups">Indian startups</keyword> as the two companies have raised a combined $4.4 billion, and their valuation will likely take a further hit if they lose their top standings. 
 
Sharad Sharma, cofounder of software products think-tank iSpirt, said, “India's implicit policy is that it is a level playing field, but the actual practice is not that and is tilted towards the MNCs. Government needs to put mechanisms in place to create a true level playing field.” 
 
"The crux of what makes a company Indian is the entrepreneur and the management team, and where they are based,” said Aggarwal, adding “There is a glass ceiling for the Indian startups. If I want to meet the PM it won't be as easy as a foreign guy coming to India. I understand that dynamic and we need to make sure government sees us as major contributors to society, which is not fully there.” 
 
(Image: Thinkstock)

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