234-year-old company EID Parry is only a tad more valuable than year-old  unicorn GlobalBees

The Indian services sector growth touched a six-month high in December, supported by a robust intake of new work and favourable market conditions, a monthly survey said on Wednesday. The seasonally adjusted <keyword id="3460448" type="General" weightage="20" keywordseo="sp-global" source="Orion">S&amp;P Global</keyword> India Services <keyword id="104215" type="General" weightage="80" keywordseo="pmi" source="Orion">PMI</keyword> Business Activity Index rose from 56.4 in November to 58.5 in December, highlighting the strongest rate of expansion since mid-2022. For the 17th straight month, the headline figure was above the neutral 50 threshold. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction. "December saw a welcome expansion in Indian services activity, underscoring the resilience of demand as 2022 came to an end," said <keyword id="2835710" type="General" weightage="80" keywordseo="pollyanna-de-lima" source="Orion">Pollyanna De Lima</keyword>, Economics Associate Director at <keyword id="3435727" type="General" weightage="20" keywordseo="sp-global-market-intelligence" source="Orion">S&amp;P Global Market Intelligence</keyword>. Lima further noted that "as we head into 2023, companies signalled strong optimism towards the outlook for output. Around 31 per cent of panellists forecast growth, while only 2 per cent anticipate a contraction." Meanwhile, in December, more jobs were created and companies remained strongly upbeat towards the year ahead outlook for business activity. "Positive sentiment and ongoing growth of new business continued to support job creation, but there were areas where capacities were reportedly adequate to cope with current requirements," Lima said. On the inflation front, input costs at services companies rose further, with companies mentioning wage pressures and higher prices for energy, food and transportation. "Inflation trends were mixed, as input prices rose at a faster pace and the upturn in charges moderated. On the expense front, services firms reported pressure from energy, food, staff and transportation costs," Lima said. Meanwhile, the S&amp;P Global India Composite PMI Output Index -- which measures combined services and manufacturing output -- rose from 56.7 in November to 59.4 in December. "Aggregate sales rose sharply and at the fastest pace since August, boosted by quicker expansions at goods producers and services companies," the survey said. The survey further noted that there were quicker increases in input costs across both the manufacturing and service economies. At the composite level, the rate of inflation was at a two-month high and above its long-run average. The S&amp;P Global India Services PMI is compiled by S&amp;P Global from responses to questionnaires sent to a panel of around 400 service sector companies. The panel is stratified by detailed sector and company workforce size, based on contributions to GDP. Data collection began in December 2005. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/zomato-bharatpe-nykaa-and-more-the-revolving-door-for-top-execs-at-new-age-companies/articleshow/96728402.cms">Zomato, BharatPe, Nykaa and more: the revolving door for top execs at new age companies</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/flipkart-fined-by-bengaluru-consumer-court-for-not-delivering-cellphone/articleshow/96728111.cms">Flipkart fined for not delivering cellphone after receiving payment in advance</a>

India's services sector growth hits 6-month high in December on strong demand

<ul class="summary-list"><li>New Delhi-based fin<keyword id="6358815" type="UNKNOWN" weightage="60" keywordseo="tech">tech</keyword> firm Bharatpe offers motorcycles to new tech employees in a bid to hire more staff.</li><li>New hires can also choose a gadget package that includes a smart watch, an iPad Pro, and streaming subscriptions.</li><li>The firm is trying to get an edge in its <keyword id="6357342" type="UNKNOWN" weightage="60" keywordseo="Hiring">hiring</keyword> push as <keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword> suffers a severe shortage in skilled IT professionals.</li></ul>With IT manpower running low in India, one fintech firm looks to stand out by offering something different from the usual perks and benefits - a motorcycle for each new hire in its tech team.New Delhi-based fintech company Bharatpe lets its new employees choose from five motorcycles, such as a BMW model <a href="https://www.zigwheels.com/newbikes/BMW/G310R">worth around $3,400</a> or about <a href="https://www.glassdoor.co.in/Salaries/it-professional-salary-SRCH_KO0,15.htm">3 months' salary for the average IT professional there.</a>If a bike isn't your fancy, Bharatpe also offers a gadget package that includes an iPad Pro with a pencil, Marshall speakers, Bose headphones, a Samsung Galaxy watch, a $330 bicycle, and subscriptions to Netflix, Apple TV, and Amazon Prime, <a href="https://tech.bharatpe.com/">according to its website.</a>Last week, <a href="https://www.linkedin.com/feed/update/urn:li:activity:6826414398748278784/">Bharatpe CEO Ashneer Grover posted on LinkedIn</a> that his company would extend these perks to its existing tech team and to <a href="https://product.bharatpe.com/">new product managers as well. </a>To sweeten the deal even further, the company said it would host employees in Dubai at the same time the Cricket T20 World Championship is held there from October to November this year. Cricket is widely considered <a href="https://www.reviewadda.com/institute/article/147/top-10-popular-sports-in-india">India's most popular sport.</a>Bharatpe, which has five offices around India and runs a QR payment service for shop owners, is trying to <a href="https://timesofindia.indiatimes.com/business/india-business/bharatpe-to-hire-100-people-for-tech-team-in-fy22/articleshow/84552113.cms">expand its tech team by 100 peopl</a>e amid a free-for-all among India's tech companies for experienced IT talent, <a href="https://pages.awscloud.com/APAC-public-DL-APAC-Digital-Skills-Research-2021-learn.html?sc_channel=sm≻campaign=APAC_WWPS_GATED_apac-digital-skills-research-report-en_20210217_7014z000001MTPv≻medium=sm_≻content=REG_download_wwps≻geo=apac≻country=mult≻outcome=reg&amp;trkCampaign=ps&amp;trk=pr_apac_blogCampaign=ps&amp;trk=pr_apac_blog">reported The Times of India.</a> Other firms are offering candidates cash to take assessment tests regardless of whether they land a job, while some companies tout free iPhones and flexible working hours, per The Times. Recruitment firms there have been hard-pressed to fulfill the demand for IT staff, it reported.Techies have been in severely short supply over the last two years as India's IT market grows, <a href="https://www.livemint.com/technology/tech-news/indian-it-cos-struggle-to-fill-digital-skills-gap-11626025655102.html">reported local media.</a>To keep up with technology advancements, the country will need to increase its number of workers with digital skills by nine times by 2025, <a href="https://pages.awscloud.com/APAC-public-DL-APAC-Digital-Skills-Research-2021-learn.html?sc_channel=sm≻campaign=APAC_WWPS_GATED_apac-digital-skills-research-report-en_20210217_7014z000001MTPv≻medium=sm_≻content=REG_download_wwps≻geo=apac≻country=mult≻outcome=reg&amp;trkCampaign=ps&amp;trk=pr_apac_blogCampaign=ps&amp;trk=pr_apac_blog">said a report commissioned by Amazon Web Services this year.</a>Bharatpe did not immediately respond to Insider's request for comment.

An Indian fintech firm is offering its new hires BMW motorcycles and trips to Dubai so it can beat the IT staffing crunch there

The consequences of Putin's war will play out in regions already experiencing acute food insecurity and in food-importing countries that are most vulnerable to supply shocks and price increases. Russia's invasion has put global stocks of grains and oilseeds into question and caused energy prices to soar, throwing fuel onto the fire and risking pushing food insecurity skyward, says Caitlin Welsh, Director of the Global <keyword id="118345" type="General" weightage="20" keywordseo="food-security" source="Orion">Food Security</keyword> Program at the Center for Strategic and International Studies in Washington. The impacts of disruption to agriculture in the Black Sea region could take months, or even years, to play out. Beyond pain at the gas pump, Americans will continue to experience sticker shock in the checkout line, with global food and fuel supply disruptions leading to even higher food prices, Welsh said. An underreported reality is that global food insecurity is already at a 10-year high. Prior to Russia's invasion of Ukraine, the follow-on effects of the pandemic -- lost jobs and wages, supply chain disruptions, food price volatility -- pushed the number of food-insecure people to record levels, Welsh says. This spike in food insecurity happened despite ample global food stocks and record-low fuel prices. Shocks to global agriculture markets can reverberate worldwide. In 2007 and 2008, decreases in production from major producers -- Australia, Burma, Russia, and others -- led to price increases and riots from Haiti to Cote d'Ivoire to nearly 40 other countries. Today, decreases in the global stocks of wheat and other grains and oilseeds from Ukraine and Russia could exacerbate ongoing crises in Afghanistan, Syria, Ethiopia, and other hotspots and aggravate instability in Egypt, Lebanon and Syria. Among Ukraine's major wheat buyers, almost half already experience acute food insecurity; particularly vulnerable to a decrease in Russian wheat supply are its purchasers across Asia and Africa, Welsh said. With China pledging to purchase Russia's barley and wheat, any sanctions imposed on Russia's agriculture sector would have limited effect, Welsh said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/environment/news/3-14-percent-of-terrestrial-species-are-likely-to-face-high-risk-of-extinction-due-to-global-warming/slidelist/89915918.cms">3-14 percent of terrestrial species are likely to face high risk of extinction due to global warming</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/faqs/lic-ipo-check-out-everything-you-need-to-know/articleshow/89912921.cms">LIC IPO – All your doubts cleared</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ashneer-grover-resigns-from-bharatpe-heres-what-he-wrote-in-his-resignation-letter/articleshow/89912762.cms">Ashneer Grover resigns from BharatPe. This is what he had to say.</a>

Ukraine war threatens food security worldwide

Describing <keyword id="185113" type="General" weightage="20" keywordseo="amit-palekar" source="Orion">Amit Palekar</keyword> as a "fresh, committed face", <keyword id="6354944" type="General" weightage="20" keywordseo="aam-aadmi-party" source="Orion">Aam Aadmi Party</keyword> national convener <keyword id="260213" type="General" weightage="20" keywordseo="arvind-kejriwal" source="Orion">Arvind Kejriwal</keyword> on Wednesday nominated this 46-year-old lawyer as the party's chief ministerial candidate for the 2022 state assembly polls in Goa. Kejriwal, who is in the coastal state on a two-day visit, said that Palekar would be contesting from the St Cruz assembly constituency in North Goa. "We said we will give a <keyword id="85309" type="General" weightage="20" keywordseo="Goa-CM" source="Orion">Goa CM</keyword> face whose heart beats for Goa and who is willing to give his life for Goa, who can take everyone along in Goa irrespective of religion, caste. And most importantly, he should be an honest man. That man is Amit Palekar," Kejriwal told reporters. Palekar joined the party a few months ago but was indirectly thrust with high profile political and activism-linked assignments. Palekar belongs to the Bhandari samaj, one of the largest non Brahmin caste groupings in Goa. Kejriwal last year had promised that the party would field a Chief Ministerial face from the Bhandari samaj, a caste grouping which the Delhi Chief Minister said had been largely deprived of political representation at the very top. "You have seen the dirty politics of the last five years and in the last two months you have seen it fall at such a level that the Goans have begun to feel ashamed. We have entered politics to change this and are asking for one chance to bring a change," Palekar said soon after accepting the mantle. "I was a victim of scams. Despite being a state ranker, because my father had no money I didn't get a government job. And I decided that one day I will fight against this injustice. I want to thank Arvind Kejriwal for this opportunity," he also said. The AAP is contesting the state assembly polls in Goa under its own steam and has steered clear of alliance offers from the Trinamool Congress, Congress and other regional parties. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ashneer-gover-takes-leave-from-bharatpe-amidst-a-legal-battle-with-kotak-mahindra-bank/articleshow/88994415.cms">Ashneer Gover takes ‘voluntary’ leave from BharatPe amidst a legal battle with Kotak Mahindra Bank</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/jiofiber-adds-0-2-million-subscribers-overtakes-bsnl-to-become-largest-fixed-broadband-provider/articleshow/88993140.cms">JioFiber adds 0.2 million subscribers, overtakes BSNL to become largest fixed broadband provider</a>

AAP announces Amit Palekar as CM face for Goa polls

<ul><li><keyword id="54613" type="COMPANY" weightage="20" keywordseo="makemytrip">MakeMyTrip</keyword> has laid off 350 employees as the coronavirus pandemic has ravaged the travel and tourism industry. </li><li>Group chairman Deep Kalra and CEO Rajesh Magow said in an email to employees on Friday that the pandemic has changed the context and viability of some of their business lines. </li><li>The top management had earlier said that they will be foregoing their full year salary. </li></ul>India’s largest travel aggregator MakeMyTrip has laid off <a href="https://www.cnbctv18.com/travel/covid-19-impact-makemytrip-lays-off-350-employees-as-travel-industry-hit-6042061.htm">350 employees</a> as the coronavirus pandemic has ravaged the travel and tourism industry. “It’s become agonisingly clear that there are certain lines of business (LoBs) that are far deeply affected and will take much longer than the others to recover. As we revisited some of our strategic imperatives to be able to sustain our business in the long term, it is evident that the pandemic has changed the context and viability of some of our business lines in its current form. Keeping this in mind we have had to take this sad but inevitable decision of rightsizing our workforce in these businesses,” founder Deep Kalra and CEO Rajesh Magow said in an email to employees on Friday. The NASDAQ listed company has also seen its share prices fall by 32.9% since the beginning of the year. With the uncertainty all around, the travel industry had been estimated to be hit the worst. A report by the <a href="https://www.weforum.org/agenda/2020/03/world-travel-coronavirus-covid19-jobs-pandemic-tourism-aviation/">World Economic Forum </a>said that the World Travel and Tourism Council has warned the coronavirus pandemic could result in 50 million jobs being cut worldwide in the travel and tourism industry. MMT group Chairman Deep Kalra and CEO Rajesh Magow had earlier said that they will be foregoing their salary from April 2020. “We have tried to do our best to offer support including Mediclaim coverage for individuals and their families till the end of the year, leave encashment, gratuity, retaining the right to exercise part of RSUs (restricted stock units) as applicable, retention of company laptops and outplacement support apart from salary payments as per their notice periods,” said the top management in the email. As the travel and tourism business had come to a complete stop, MMT had also announced its foray into food delivery. The company rolled out an online gourmet delivery service in partnership with luxury and premium hotel chains and independent properties across cities in India. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/bharatpe-laid-off-several-employees-after-announcing-salary-hikes-in-april/articleshow/76128348.cms">BharatPe laid off several employees after announcing salary hikes in April</a> <a href="http://businessinsider.in/business/corporates/news/infosys-reportedly-plans-to-reduce-the-number-of-managers-the-ceo-and-coo-got-over-25-salary-raise-in-fy20/articleshow/76127600.cms">Infosys reportedly plans to reduce the number of managers— the CEO and COO got over 25% salary raise in FY20</a> <a href="https://www.businessinsider.in/business/corporates/news/hindustan-unilever-limited-ceo-sanjiv-mehta-says-the-product-inventory-range-will-be-smaller-and-simpler-hereon/articleshow/76128468.cms">HUL CEO says the product inventory range will be smaller and simpler hereon⁠— analysts believe others may have the same plan</a>

MakeMyTrip fires 350 employees as company looks for ways to sustain during the Covid19 pandemic

<ul><li><keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> is reportedly downsizing employees at the senior level including <keyword id="9323073" type="UNKNOWN" weightage="20" keywordseo="delivery-managers">delivery managers</keyword>, associate vice presidents, senior vice presidents and others. </li><li>According to a TOI report, the IT major plans to trim up to 15% of the staff at JL-7 and above — which will directly impact 13,000 employees. </li><li>This is aimed at accelerating the decision making process, thereby reducing the employee costs significantly. </li><li>Meanwhile, the executives at the senior most level in the company — CEO <keyword id="328377" type="PERSON" weightage="20" keywordseo="Salil-Parekh">Salil Parekh</keyword> and COO Pravin Rao — saw over 25% jump in the annual remuneration in FY20. </li></ul>Infosys is undergoing a major structural rejig across the senior management — which accounts for nearly 30,000 employees — to keep up with the COVID impact. The company is reportedly downsizing employees at the senior level including delivery managers, associate vice presidents, senior vice presidents and others. <a href="https://timesofindia.indiatimes.com/business/india-business/infosys-to-cut-roles-flatten-co-for-speedy-decision-making/articleshow/76126971.cms">According to</a> a TOI report, the senior management at the company functions across job level 6,7 and 8. Of this, the IT major plans to trim up to 15% of the staff at JL-7 and above. This will directly impact 13,000 employees. For IT giants wages, employee costs and campus placement drives make up for over half of its operational costs. Moreover, the economic slowdown has cost the company termination of several projects, squeezing the profit margin. Infosys’ CEO Salil Parekh said that the company is now reviewing overlaps in the functional hierarchy. “We have no plans or targets for workforce reduction. Nor do we have any predefined percentage of exits as a result of our half-yearly and yearly performance cycles. However, as a performance-driven organisation, some involuntary attrition is integral to the normal course of business every year at Infosys, Infosys spokesperson <a href="https://timesofindia.indiatimes.com/business/india-business/infosys-to-cut-roles-flatten-co-for-speedy-decision-making/articleshow/76126971.cms">told</a> The Times of India. At present, the company has several managers or heads at the senior level. For instance, there are delivery managers who report to the senior delivery managers. These senior executives then report to the delivery head — and the delivery team then reports to the service head. So, the idea is to trim the managerial workforce. This is aimed at accelerating the decision making process, thereby reducing the employee costs significantly. At the senior level, the employee salaries at Infosys vary between ₹35 lakh to ₹40 lakh. And for the VP, SVP roles, the remuneration is even higher than that. Meanwhile, the executives at the senior most level in the company — CEO Salil Parekh and COO Pravin Rao — saw over <a href="https://www.financialexpress.com/industry/infosys-sees-marginal-impact-on-profits-amid-covid-ceo-salary-at-6-15-million-in-fy20/1976982/">25% jump in the annual remuneration</a> in FY20. In its latest earnings call, the company also said that it has temporarily froze hiring, promotions and appraisals in view of the Coronavirus pandemic, calling it a ‘no regret’ move. See also: <a href="https://www.businessinsider.in/business/startups/news/bharatpe-laid-off-several-employees-after-announcing-salary-hikes-in-april/articleshow/76128348.cms">BharatPe laid off several employees after announcing salary hikes in April</a> <a href="https://www.businessinsider.in/tech/apps/news/remove-china-apps-races-to-1-million-downloads-within-two-weeks-as-anti-china-sentiment-gains-momentum/articleshow/76128369.cms">‘Remove China Apps’ races to 1 million downloads within two weeks as anti-China sentiment gains momentum</a>

You Searched For "bharatpe jobs" and got 7 results

234-year-old company EID Parry is only a tad more valuable than year-old unicorn GlobalBees

Vaamanaa Sethi

India's services sector growth hits 6-month high in December on strong demand

PTI

An Indian fintech firm is offering its new hires BMW motorcycles and trips to Dubai so it can beat the IT staffing crunch there

Matthew Loh

Ukraine war threatens food security worldwide

IANS

AAP announces Amit Palekar as CM face for Goa polls

IANS

MakeMyTrip fires 350 employees as company looks for ways to sustain during the Covid19 pandemic

Sanchita Dash

Infosys reportedly plans to reduce the number of managers— the CEO and COO got over 25% salary raise in FY20

Prerna Sindwani