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<ul class="summary-list"><li>Avi Singh and Rishi Rajpal left their stable jobs to open a New York City cocktail bar in 2019.</li><li>They hired David Muhs as their head bartender.</li></ul>This as-told-to essay is based on a conversation with Avi Singh, 30, and Rishi Rajpal, 34, the co-owners of Sama Street, and David Muhs, 40, the head bartender at Sama Street. All three also own and operate another New York City cocktail bar, Monkey Thief.This conversation has been lightly edited for length and clarity.Avi: Rishi and I go way back. We grew up together in <a target="_blank" class="" href="https://www.businessinsider.com/visit-india-2016-3">New Delhi, India</a>. Our parents were friends.Fast forward to 2016, Rishi was living with my brother in New York City, and we reconnected.Rishi: After I graduated college, I worked in event management. Two years later, I pivoted and started working for a tech startup where I was leading <a target="_blank" class="" href="https://www.businessinsider.com/how-to-double-dip-work-two-jobs-2023-9">quality assurance.</a>I liked the creative aspect of getting to work with different companies. But my <a target="_blank" class="" href="https://www.businessinsider.com/tech-worker-left-job-opened-natural-wine-bar-brooklyn-2024-11">work was very monotonous</a>. It got boring. And I didn't like being behind a desk for 10 to 13 hours a day.Avi: I went to college at Emory in Atlanta. My peers were entering one of three fields: finance, marketing, or consulting. The thing that intrigued me most was consulting because of its <a target="_blank" class="" href="https://www.businessinsider.com/how-to-get-hired-top-consulting-firms-bcg-mckinsey-pwc-2024-7">problem-solving nature. </a>I took a job at a consulting firm that would allow me to move to New York City. Reality hit pretty quickly with regard to what you actually do as a business analyst at a consulting firm. It was 80 hours a week sitting on Excel and PowerPoint, building models, and putting together decks. I didn't feel like I got to see any of my work being implemented. I had a hunger to <a target="_blank" class="" href="https://www.businessinsider.com/six-figure-consulting-job-not-fulfilling-quit-start-business-2024-11">make more of an impact.</a>Rishi: When I reconnected with Avi, we were both in a position where we didn't know what we wanted to do with our lives. We didn't like where we were at. We didn't want to go through life like that, so we started talking about what would happen if we followed our dreams.<h2 id="891d925d-e92d-4743-9282-ab8459339509">We wanted to go into food and beverage</h2>Avi: Growing up in India, food was a big part of our social and familial interactions. That's where the love started.We knew how <a target="_blank" class="" href="https://www.businessinsider.com/restaurants-america-eating-out-crisis-your-fault-labor-shortage-tipping-2024-2">difficult the industry</a> was, but we were still fairly young, so we just said let's give it a shot. In the worst-case scenario, we can always come back to our desk jobs.Rishi: I started working as a dishwasher, busser, server, and then manager at an Indian restaurant to gain experience while we came up with our concept.Avi: It was definitely a risky move. Coming from Asian households, we were guided toward a more <a target="_blank" class="" href="https://www.businessinsider.com/modern-career-path-2018-7">traditional career path</a>. I had to present my dad with a full business plan and pitch the bar to him. But we had done our market research and knew we had a good idea.We wanted Sama Street to be based on our upbringing and experiences. We wanted a cocktail bar where we utilized ingredients in ways people might not be used to.<div type="image" title="A photo of the interior of Monkey Thief" height="5268" width="7898" msid="115385467" hostid="261" sizebytes="4338152"></div>There are some bars in New York where you don't necessarily feel welcome. Maybe you need to be dressed a certain way, or you're afraid to be loud with your friends. We wanted to create a space where, whether you're wearing sweatpants or coming in on a date night, you are welcome and treated equally.That's where the name comes from. Sama is from the Sanskrit word meaning true equality to all beings.We were looking for a head bartender and posted an ad on Craiglist. That's how we met David. He helped us realize our vision.David: I was working as a general manager at the time, but wanted to get back behind the bar. I saw the ad and skipped over it a few times because they seemed pretty green. But my wife convinced me to call them. We talked for an hour and a half and just clicked right away. We had all the same sort of ideas about hospitality.<h2 id="88091082-fd0e-4bc0-9939-3fbe42de37fc">We opened Sama Street in 2019</h2>David: We learned so much during that process. We <a target="_blank" class="" href="https://www.businessinsider.com/changes-restaurants-pandemic-qr-codes-self-service-kiosks-2024-10">survived the pandemic.</a>Avi: It was rough. We celebrated our one-year anniversary over FaceTime. But Sama Street is in Greenpoint, a very close-knit neighborhood, so our regulars showed up for us. The other bars and restaurants did, too. There was a lot of <a target="_blank" class="" href="https://www.businessinsider.com/what-its-like-to-eat-restaurant-outdoor-dining-nyc-pandemic-2020-6">local industry support.</a>We basically did everything that we were <a target="_blank" class="" href="https://www.businessinsider.com/new-york-restaurants-are-struggling-2020-12">legally able to do</a> to get as many people drinks and food during the lockdown.We're definitely still feeling the ripples of COVID, but it was a great learning experience and taught us that anything can change overnight, and you have to be able to pivot.<div type="image" title="four craft cocktails" height="5464" width="8192" msid="115385469" hostid="261" sizebytes="2130388"></div>I still get worried about financial security some days. As an entrepreneur, you can't pay yourselves unless the business is doing well.<h2 id="e8d53f13-0f83-4bae-9d07-d009ad306ed7">We knew we wanted to expand</h2>David: We searched and searched and searched and came across a spot in Hell's Kitchen and fell in love immediately.Avi: We opened Monkey Thief in October.David: It was very fast. We didn't have to do a lot with the space, mostly cosmetic changes and getting staff trained. The fast opening was good for our pocketbooks but also very high stress. We've all been doing 18-hour days for the last two months.Rishi: We couldn't have asked for a better opening. We've had so much support from the neighborhood, and our regulars from Sama Street have come in to see the new concept.David: It's been a learning curve because it's <a target="_blank" class="" href="https://www.businessinsider.com/restaurant-owners-how-to-run-a-successful-profitable-small-business-2023-10">bigger than Sama Street. </a>But it's a good problem to have. We've got people waiting outside to come in.Rishi: Hopefully, we will open a couple more spaces in the future.Avi: One of the things I love about this industry is that every day is different, though not necessarily in a good way. You might walk in and see the AC has stopped working or the gas is turned off. It's never boring.David: This is not an industry for everyone. The reason we've been successful is that we love coming to work every day. We love the chaos. We love the community.

We left stable careers in tech and consulting to open a cocktail bar in New York City. It was professionally risky but worth it.

<ul class="summary-list"><li><keyword id="11932995" type="UNKNOWN" weightage="60" keywordseo="pollution" source="Orion">Pollution</keyword> levels in New Delhi, <keyword id="11892747" type="UNKNOWN" weightage="60" keywordseo="india" source="Orion">India</keyword>, have been dangerously high these past two weeks.</li><li>Schools were told to shut for a week from Monday and construction work was banned for three days.</li></ul>Authorities in India plan to enforce a new lockdown to combat <a href="https://www.businessinsider.com/new-delhi-toxic-air-worse-people-ignore-ban-diwali-fireworks-2021-11">air pollution in New Delhi</a>, the world's most polluted capital city.Pollution levels in some parts of city have registered off the charts several times over the past fortnight. On Tuesday, the air quality index <a href="https://app.cpcbccr.com/AQI_India/">scored 437 out of a maximum 500 points.</a>Indian cities have long struggled with pollution, but levels spike each winter as fumes from farmers burning their crops mix with pollution from cars and industrial plants, <a href="https://apnews.com/article/climate-business-india-air-pollution-smog-942e06b34db27af794a269d5fa95c7cd">the Associated Press reported.</a>At an emergency meeting Tuesday, New Delhi officials said they were planning a weekend lockdown and work-from-home order to counter the issue. "We have proposed a weekend lockdown, we are ready for it. Our strategy will depend on the court's directions now," Gopal Rai, the Delhi minister for environment, forest, and wildlife, <a href="https://www.ndtv.com/india-news/delhi-air-pollution-wfh-among-delhis-proposals-to-fight-pollution-day-after-supreme-court-rap-2612701">told NDTV.</a> The declaration follows that taken by the New Delhi government on Saturday, which said schools would shut for a week from Monday and that construction workers must stay at home for three days from Sunday, <a href="https://timesofindia.indiatimes.com/home/education/news/delhi-schools-shut-for-a-week-construction-ban-for-3-days/articleshow/87693564.cms">the Times of India reported.</a>On Monday, India's Supreme Court said it advised authorities to outlaw all nonessential road travel and make people work from home, <a href="https://www.reuters.com/world/india/indias-top-court-orders-work-home-over-pollution-capital-2021-11-15/">Reuters reported.</a>The Supreme Court is set to vote on which measures to impose, NDTV said.A fresh lockdown in New Delhi would come hot on the heels of the region's COVID-19 lockdown that only <a href="https://www.businessinsider.com/fauci-urged-india-to-impose-covid-lockdown-modi-refused-2021-5">ended in May</a>.At the COP26 climate summit in the UK last week, Indian Prime Minister Narendra Modi was initially praised after pledging that India would cut emissions to net zero by 2070.However, <a href="https://www.bbc.co.uk/news/world-asia-india-59286790">the country changed its plan</a> at the last minute to "phase out" coal use to "phase down" coal use, <a href="https://www.bbc.com/news/uk-59280241">angering climate activists and multiple politicians.</a>

Authorities in India are planning a new lockdown not to combat COVID-19, but air pollution

<ul class="summary-list"><li>The Indian economy has grown strongly under Narendra Modi, whose party is set to win another term.</li><li>India's success has caught the eye of figures including Elon Musk, Jamie Dimon, and Tim Cook.</li></ul>India's powerful economic growth and blossoming middle class under Narendra Modi have caught the eye of corporate titans like Elon Musk, Jamie Dimon, and Tim Cook.Modi is pretty much a shoo-in for a third term as prime minister after the national election now underway ends on June 1. But the work starts there, as he'll have to navigate thorny issues such as youth unemployment, income inequality, and reliance on sanctioned Russian oil.<h2>Fueling growth and shaking hands</h2>India's economy has more than doubled in size during Modi's decade in charge to more than $3.7 trillion last year.The International Monetary Fund (IMF) <a target="_blank" href="https://www.imf.org/en/Blogs/Articles/2024/04/29/asias-growth-and-inflation-outlook-improves-but-risks-remain">recently upgraded</a> its growth forecast for real Gross Domestic Product (GDP) to a robust 7.8% this year, 6.8% in 2025, and 6.5% in 2026.India has already overtaken Britain to become the world's fifth-largest economy. It's on track to leapfrog Japan and Germany into third spot behind the US and China by 2027.The country's flagship stock index has also tripled in value since Modi took office in May 2014, thanks to wealth gains and growing investment appetites.Moreover, <a target="_blank" href="https://sbi.co.in/documents/13958/36530824/270224-HCES_Feb24.pdf">one estimate</a> puts the percentage of the Indian population living on less than $2.15 a day at below 5%, down from 12% in 2011. However, the <a target="_blank" href="https://pip.worldbank.org/country-profiles/IND">World Bank</a> pegged that figure at nearly 13% in 2021.India's middle class has also ballooned with 60 million people now earning the rupee equivalent of more $10,000 a year — about $37,200 once adjusted for <a target="_blank" href="https://www.imf.org/external/datamapper/profile/IND">purchasing power</a>. Goldman Sachs <a target="_blank" href="https://www.goldmansachs.com/intelligence/pages/indias-affluent-population-is-likely-to-hit-100-million-by-2027.html">expects</a> the ranks of the relatively affluent to swell to 100 million by 2027."Modi has done an unbelievable job in India," JPMorgan's Dimon <a target="_blank" href="https://www.businessinsider.com/jpmorgan-jamie-dimon-economy-inflation-recession-stagflation-geopolitics-crypto-bitcoin-2024-4">told</a> the Economic Club of New York last month. "I know the liberal press here, they beat the hell out of him. He's taken 400 million people out of poverty."Musk has <a target="_blank" href="https://twitter.com/elonmusk/status/1781541775183610310">posted</a> on X that he's looking forward to visiting India and meeting Modi this year. He delayed his trip last month, blaming "very heavy Tesla obligations." The pair are expected to discuss Tesla building a multibillion-dollar factory in the country.As for Apple's Cook, he hailed India on a November earnings call as an "incredibly exciting market" and a "<a target="_blank" href="https://www.businessinsider.com/apple-tim-cook-obsessed-india-consumers-iphone-2023-7">major focus of ours</a>" given the explosive growth in potential customers as locals get richer.<div type="image" title="Sundar Pichai, Tim Cook, Narendra Modi, Joe Biden" height="3907" width="5861" msid="109838230" hostid="261" sizebytes="846512"></div>Modi has also met with Nvidia CEO Jensen Huang, Microsoft boss Satya Nadella, and Alphabet's Sundar Pichai. He's likely to be seeking to attract foreign direct investment (FDI) in India — and to capitalize on bosses' <a target="_blank" href="https://www.businessinsider.com/us-china-relations-reshoring-manufacturing-jobs-made-in-america-2023-10">desire to hedge their bets on China</a> given its strained relationship with the US, economic woes, and how disruptive its strict pandemic lockdowns were to global supply chains."India's population and economic growth numbers are causing a lot of global executives to revisit their India presence and consider scaling up," Richard Rossow, a senior advisor and chair in US-India Policy Studies at the Center for Strategic &amp; International Studies, told Business Insider."Paired with increased concerns about supply chain resilience and security concerns about China, it's a very good time for a hard push to win investments."The United Nations said that India and China both had a population of 1.426 billion in April last year, meaning India is probably now the most populous given its rising birth rate.<h2>Change for the better — mostly</h2>Modi has instigated a raft of major economic reforms since taking office, intended to make India more business-friendly, and boost government revenues by taxing more of the country's vast informal economy.He rolled out a tax on goods and services, simplified bankruptcy laws, lifted FDI restrictions, cut corporate income tax, and ended retrospective taxation.However, not all of Modi's moves spurred growth."Demonetisation was a key economic policy which had negative effects on the economy," Kunal Sen, a director of the United Nations University World Institute for Development Economics, told BI.Sen is the author of several books about India's economy and a professor of development economics at the University of Manchester.He was referring to Modi's sudden declaration in November 2016 that all 500 and 1,000-rupee bills — 86% of Indian currency in circulation — would <a target="_blank" href="https://www.businessinsider.com/india-ending-500-and-1000-rupee-bills-to-fight-corruption-2016-11">no longer be accepted as legal tender</a>.The government's goals were to capture undeclared income, get rid of counterfeit currency, broaden the tax base, and bring more activities into the formal economy."The other key economic policy was JAM — the trinity of bank accounts for the poor, mobile numbers and a biometric card. This last economic policy has been revolutionary," Sen said.He was hailing a broader digitization drive under Modi that has <a target="_blank" href="https://www.businessinsider.in/business/news/how-indias-digital-payments-ecosystem-has-evolved-in-the-last-one-year/slidelist/90595832.cms">transformed</a> how Indians bank, invest, pay their taxes, and conduct business.<h2>Prosperity for all</h2>Modi's efforts have helped to usher in a more prosperous era for some Indians, but many have been left behind.Young people are India's beating heart, with about half its population under 25 and almost two-thirds under 35. Matching those hundreds of millions of people with jobs has proven a challenge, with youth unemployment almost tripling from below 6% in 2000 to about 18% in 2019. It still stands at a hefty 10% in 2023, per the <a target="_blank" href="https://webapps.ilo.org/wcmsp5/groups/public/---asia/---ro-bangkok/---sro-new_delhi/documents/publication/wcms_921154.pdf">International Labor Organization</a>.The report found that nearly 30% of India's graduates were unemployed in 2022, and only about 10% of the working-age population was formally employed.<div type="image" title="A farmer uses oxen to plow fields for lentils in Nimaj, Rajasthan, northern India." height="3464" width="5196" msid="109838232" hostid="261" sizebytes="690700"></div>"Unemployment is a big issue," Rossow said, emphasizing this isn't just a problem with recent graduates but a "much, much larger bubble: the underemployed farm laborers."Rising agricultural productivity is likely to help farm workers make a faster transition to city life in the years ahead, but they'll struggle to secure modern jobs in the services industry "without significant reskilling and education," Rossow said.As a result, lower-skilled manufacturing and assembly jobs and lower-end services jobs will be needed, he added.Another major challenge will be tackling a widening wealth divide. The richest 10% of the population hold more than 72% of the nation's wealth, per an Oxfam report <a target="_blank" href="https://d1ns4ht6ytuzzo.cloudfront.net/oxfamdata/oxfamdatapublic/2023-01/India%20Supplement%202023_digital.pdf?">published</a> last year.Business tycoons Mukesh Ambani and Gautam Adani both rank among the world's 15 richest people, per the <a target="_blank" href="https://www.bloomberg.com/billionaires/">Bloomberg Billionaires Index</a>. Luxury-goods sales are booming with <a target="_blank" href="https://www.carwale.com/news/mercedesbenz-lineups-waiting-period-reduced-in-india/">long waitlists</a> for flashy purchases like the Mercedes "G Wagon."<div type="image" title="The Ambani family onstage with Rihanna." height="854" width="1280" msid="109838233" hostid="261" sizebytes="99148"></div>The <a target="_blank" href="https://www.businessinsider.com/anant-ambani-pre-wedding-festivities-lack-empathy-india-radhika-merchant-2024-3">lavish pre-wedding party</a> thrown by the Ambani family earlier this year was singled out by some as an affront to the huge number of Indians living in poverty.Almost 1.3 billion people live on less than $3,500 a year by one estimate, and India ranks 111th on the <a target="_blank" href="https://www.globalhungerindex.org/ranking.html">Global Hunger Index</a>, below even North Korea.Rising equality is partly explained by a "capital-intensive mode of economic growth along with increasing power of business conglomerates," Sen told BI, referring to how huge companies like the Adani Group secure huge government contracts to build ports, bridges, highways, and other infrastructure.A third challenge is regional inequality, as some states like Bihar and Uttar Pradesh haven't experienced the same growth and modernization of their economies as others, Rossow said.<h2>The Russia riddle</h2>One striking aspect of Modi's economic boom has been its reliance on Russia since it invaded Ukraine in early 2022.India went from getting 2% of its crude oil from Russia before the war, to 35% last year. During that period, the US and Europe slapped sanctions on Russian oil to defund Putin's military machine and punish Moscow for attacking a sovereign nation.Despite that, India purchased an estimated $37 billion of Moscow's oil in 2023 — 13 times the amount it bought annually prior to the conflict. Its buying helped Russia rake in a <a target="_blank" href="https://markets.businessinsider.com/news/commodities/russia-economy-oil-sales-india-ukraine-war-moscow-western-sanctions-2024-2">record $320 billion</a> of federal revenue last year.Indian demand for Russian oil has <a target="_blank" href="https://markets.businessinsider.com/news/commodities/russia-oil-trade-crude-india-discount-barrel-sanctions-price-cap-2024-2">cooled</a> in recent months as new sanctions have made it <a target="_blank" href="https://markets.businessinsider.com/news/commodities/russia-economy-oil-energy-exports-india-imports-revenue-sanctions-discount-2024-3">more expensive</a>, but the buying remains controversial.Officials in India have <a target="_blank" href="https://markets.businessinsider.com/news/commodities/crude-oil-prices-india-russia-trade-geopolitics-opec-supply-puri-2024-2">defended</a> the purchases, saying that if they'd bought Middle Eastern oil instead, global crude prices would have shot up.India is also one of the world's largest oil refiners and has helped Western nations to maintain access to refined petroleum products even as they're refraining from buying Russian crude directly.Yet the country imports 85% of its oil, so its overriding interest is securing the cheapest oil possible to support its development, said Neelima Jain, a senior fellow and chair in US India Policy Studies at CSIS."India will continue to buy Russian oil if the price remains favorable and allows for firm volume guarantees, as the country prioritizes energy affordability and accessibility during its rapid rural-to-urban transition, which has led to a 6% year-on-year growth in energy demand," she told BI."In an inflationary environment, economics [rather] than geopolitics will drive India's energy choices."<div type="image" title="Narendra Modi and Vladimir Putin" height="3196" width="4714" msid="109838234" hostid="261" sizebytes="426292"></div><h2>India the IT hub</h2>Under Modi, India has made big strides in modernizing its economy, combating bureaucracy, and appealing to foreign investors.Big Tech stalwarts like Microsoft have a <a target="_blank" href="https://www.businessinsider.com/microsoft-has-so-many-patents-its-outsourced-the-job-to-india-2013-5">long history</a> of outsourcing to India, but recent efforts to cut red tape and slash corporate taxes appear to have fueled fresh interest.Sweeping layoffs at Alphabet, Amazon, Meta, Salesforce and other US tech titans in the past few years could presage a large exodus of jobs to India.Sanjay Shetty of Randstad India <a target="_blank" href="https://economictimes.indiatimes.com/tech/technology/outsourcing-hubs-like-india-to-bag-40-of-jobs-lost-to-layoffs/articleshow/101088673.cms?">told The Economic Times</a> last summer that he expected 30% to 40% of the tech jobs eliminated globally to move to India by 2025."India is going to be the biggest gainer in the medium to long term, as almost every company that we speak to is looking at expanding its India base," Shetty said.Even if that pans out, it won't be a panacea for a country facing not just unemployment and underemployment, but also stark income inequality, regional disparities, and the risk of alienating Western allies by continuing to buy Russian oil.Yet overall, India appears to be headed in the right direction."The growth is real, if focused on a few key states," Rossow said. "India's dynamic technology services sector is to IT services what China is to manufacturing. So there is much to cheer, even as the reform agenda seems to never end."

Tech titans love Modi's economic powerhouse India — despite mass unemployment and abject poverty 

China's Covid-related lockdowns in 2022 crippled the flow of important pharmaceutical products around the world. The events are prompting a reconsideration of the structure of international supply networks, along with geopolitical competitiveness and macroeconomic pressures. <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> may become a destination in the US's new "friend-shoring" policy for the pharmaceutical industry, reported <keyword id="7667981" type="General" weightage="80" keywordseo="hinrich-foundation" source="Orion">Hinrich Foundation</keyword>. The term friend-shoring is used for the act of moving supply networks to nations with little chance of political unrest disrupting them. Notably, the Hinrich Foundation is an organisation that works to advance mutually beneficial and sustainable global trade through research and education programs that build understanding and leadership in global trade. National leaders no longer seem to believe in the logic of free trade as the world economy recovers from the Covid-19 pandemic, especially when it causes the concentration of essential supply chains of crucial businesses in certain geopolitically hazardous geographies. Supporting the growth of supply chains in friendly countries is known as "friend-shoring," and among US authorities it has emerged as a strategic shift away from the costs and alleged drawbacks of both uncontrolled foreign investment and the "onshoring" industries, read a paper jointly authored by <keyword id="16717305" type="General" weightage="80" keywordseo="akhil-ramesh" source="Orion">Akhil Ramesh</keyword> and <keyword id="14532427" type="General" weightage="80" keywordseo="rob-york" source="Orion">Rob York</keyword> for Hinrich Foundation. Given the recent economic liberalisation measures in India, the expanding alliance between New Delhi and Washington, and India's position as the "pharmacy of the world," the pharmaceuticals sector, whose significance was increased by the pandemic, is a good possibility. However, the indigenous industry in India confronts difficulties because of inadequate regulatory monitoring, reliance on China for component supplies, and problems emerging from environmental damage related to their manufacturing. China has provided considerable economic support to the pharmaceutical industry over the past two decades, while the US has brought a knife to a gunfight by not applying industrial policy planning to its pharmaceutical and API businesses to a comparable amount. Since then, the US has intensified its shift towards such industrial policies. America continues to have a strategic edge as the biggest buyer of medications in the world. To change the supply chain, the US might use its market for pharmaceutical consumption as a weapon. The US might increase its edge in supply chain diversification if it can convince Japan and France to join the friend-shoring movement, the paper in Hinrich Foundation further read. The <keyword id="14429529" type="General" weightage="50" keywordseo="mineral-security-partnership" source="Orion">Mineral Security Partnership</keyword> (<keyword id="133827" type="General" weightage="50" keywordseo="msp" source="Orion">MSP</keyword>) and the CHIP4Alliance for semiconductors are two comparable partnerships that the US has previously started. In order to achieve this, the US could first use the "panopticon effect"41 to collect crucial strategic information from the Indian government and pharmaceutical sector. Second, it might promote the security establishment's participation. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/for-many-years-after-independence-there-was-no-long-term-vision-in-health-sector-pm/articleshow/98444722.cms">For many years after Independence, there was no long term vision in health sector: PM</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/will-reliance-capital-lenders-get-their-dues-fast-or-will-there-be-legal-delays/articleshow/98445213.cms">Will Reliance Capital lenders get their dues fast or will there be legal delays</a>

India emerges as US's new destination for "friend-shoring" pharmaceutical supply chains

Co-working major <keyword id="4052133" type="COMPANY" weightage="20" keywordseo="WeWork-India">WeWork India</keyword> on Monday said it has raised ₹200 crore from investors, through a mix of debt and equity. The company said that following the challenging period for the industry due to the <keyword id="11082915" type="UNKNOWN" weightage="20" keywordseo="lockdown-last-year">lockdown last year</keyword>, it has bounced back and pivoted to adapt favourably through <keyword id="11087654" type="UNKNOWN" weightage="20" keywordseo="new-flexible-product-offerings">new flexible product offerings</keyword>. <keyword id="2918346" type="COMPANY" weightage="20" keywordseo="WeWork">WeWork</keyword> India said that it is aiming for profitability in 2021. "The new capital we have raised will help us in continuing our upwards momentum and truly explore the potential of flexible workspaces in the Indian market," Karan Virwani, CEO, WeWork India, said in a statement. Announcing its "most successful sales quarter yet," WeWork India said it sold 10,000 desks during the January-March quarter. Despite the slow absorption for commercial real estate with 5.53 million sq ft leased in Q1 2021, WeWork remained bullish with driving sales and net absorption, with more than 7 lakh sq ft of area being sold (over 10 per cent of the total leasing in the market). "While last year was challenging for the industry, we have seen a steady uptick in demand from members of all sizes, and we will continue to remain bullish and focus on the growth of flexible workspaces in the country," Virwani said. "We are poised for sustainable long-term growth and are aiming for profitability in 2021. Our focus remains on providing a wide range of flexible offerings to meet our members' evolving needs." WeWork said over the last year it has also seen a strong demand from enterprises, who are now looking at flexible workspaces as a viable long-term real estate option. This is showcased by WeWork's enterprise portfolio seeing a 10 per cent jump to now constitute 60 per cent enterprise members, as well as facilitating the opening of its new workspace: Embassy Manyata NXT, in <keyword id="6354321" type="COMPANY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword>. WeWork last month said it entered into an agreement with Indian American Vivek Ranadive-led blank-check firm BowX Acquisition Corp., providing for a business combination that will result in the co-sharing workspace company becoming a publicly listed company. The transaction values WeWork at an initial enterprise value of approximately $9 billion, WeWork said. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/aadhaar-pan-and-bank-account-numbers-leaked-in-upstox-data-breach/articleshow/82025949.cms">Discount broker Upstox suffers data breach – Aadhaar, PAN and bank account numbers leaked</a> <a href="https://www.businessinsider.in/science/environment/news/how-ash-from-st-vincents-volcano-is-covering-the-caribbeans-largest-island-nation/slidelist/82025420.cms">Devastating images show how ash from St Vincent’s volcano is covering the Caribbean's largest island nation</a> <a href="https://www.businessinsider.in/tech/mobile/news/lg-wing-gets-a-40000-price-cut-a-week-after-the-company-shuts-its-smartphone-business/articleshow/82027401.cms">LG Wing gets a ₹40,000 price cut a week after the company shuts its smartphone business</a>

Co-working space startup WeWork India raises ₹200 crore, aims to be profitable this year

<ul><li>Over 48,000 students participated in the <keyword id="1561517" type="General" weightage="80" keywordseo="smile-india" source="Orion">Smile India</keyword> foundation <keyword id="15510" type="General" weightage="20" keywordseo="survey" source="Orion">survey</keyword> covering 22 Indian states. </li><li>58% of teachers notice <keyword id="6354493" type="General" weightage="20" keywordseo="children" source="Orion">children</keyword> getting distracted easily and lacking social decorum. </li><li>Parents are more involved with their ward’s curriculum following the pandemic. </li></ul>Less than 50 per cent of children are able to catch up with their age-appropriate learning following the <keyword id="8763838" type="General" weightage="20" keywordseo="covid-19" source="Orion">COVID-19</keyword> pandemic, a new survey on learning loss and education recovery revealed. Over 48,000 students participated in the Smile India foundation survey, covering urban, rural and aspirational districts of 22 states. "According to teachers, less than 50 per cent of children have been able to cope with the learning loss over the last two years," it said. "These are mostly those students who have been regularly performing well prior to the pandemic as well. Hence, bringing the rest of the students to par with their expected learning level will require some time and effort," the survey said. Fifty-eight per cent of teachers noted that children have missed out on social skills and now get distracted easily, it added. "Their attention span has gone low." Forty-seven per cent of them admitted there is an increased interaction between parents and teachers, it said. "Thirty-eight per cent of parents started interacting with teachers by visiting schools. There is a 27 per cent increase in parent-teacher meetings attendance. Fifty per cent of parents interviewed felt the absence of digital learning resources like devices, networks, and data packs made the learning experience inadequate for the children during the pandemic," the survey said. Thirty-one per cent of parents' most preferred mode of learning during the pandemic was direct classes in offline mode or cluster classes, it said. The survey also revealed that worksheets and visits by teachers “were very convenient and useful."

Less than 50% of children able to catch up with age-appropriate learning, claims survey

<ul><li>Corporate loan growth originations grew in lower single digits in FY23.</li><li>Investment announcements in 2023 were at their lowest since 2018, excluding 2020.</li><li>Auto, home and other consumption loans saw sharp growth, led by <keyword id="20026653" type="General" weightage="20" keywordseo="personal" source="keywords">personal</keyword> loans. </li></ul>Large corporates are still not driving India’s credit growth as private capital expenditure is yet to pick up pace. While consumption, MSME and microfinance loans’ originations volume grew in double digits between FY22 and FY23, corporate loan growth was at a mere 2.4%, as per <keyword id="19994500" type="General" weightage="20" keywordseo="crif" source="keywords">CRIF</keyword> High Mark’s report on ‘How India Lends’. Investments by companies have remained in the slow lane even in FY24, according to a report by <keyword id="19920717" type="General" weightage="20" keywordseo="bank-of-baroda" source="keywords">Bank of Baroda</keyword>. In the first three quarters of FY24, investments to the tune of ₹10.80 lakh crore were announced. Most of these announcements were dominated by airlines, power, chemicals and machinery. Bank of Baroda in a report said that 2023’s investment announcements, most of which might not materialize, are at the lowest since 2018. That however excludes 2020, when Covid-19 induced lockdown was in-effect. “Data on new investment announcements do indicate that industry in general is still in a wait and watch mode. One factor holding back investment could be excess capacity in several sectors. <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword> data for June shows the average at 73.6%,” said economists at Bank of Baroda. Apart from this, uncertainty due to the elections could have played a role in companies being tight fisted. “The third factor could be high interest rates and the expectation of repo rate cuts next year in the second quarter of the fiscal,” the economists added. The consumption loan boom On the other hand, consumption loans that include home loans, auto loans, personal loans etc, grew the fastest at 37.7% in FY23. Within consumption, personal loans saw the sharpes growth, followed by consumer durable loans. Public and private sector banks give a large chunk of home loans. “There is a 22% increase in average ticket size (ATS) from ₹20.2 lakh in FY20 to ₹24.7 lakh in FY23. There has been a shift in originations by both value and volume seen from ticket size ₹5-35 lakh to ₹35-75 lakh,” said CRIF. Housing finance companies and PSU banks lead ticket size bands under ₹75L, while private banks lead the over ₹75 lakh ticket size loan market. Loan origination growth (FY22 to FY23) <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></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;">Consumption Loan Type </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;">Portfolio size </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;">Origination value growth </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;">Origination volume growth </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;">Home Loans </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;">₹30.7 lakh 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;">18.1% </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;">13.1% </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;">Personal Loans </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;">₹10.9 lakh 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;">35.2% </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;">50.7% </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;">Two-Wheeler Loans </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;">₹1.1 lakh 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;">50.3% </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;">35.3% </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;">Auto Loans </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;">₹5.9 lakh 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;">37.6% </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;">21.1% </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;">Consumer Durable Loans </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;">₹0.5 lakh 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;">32.8% </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;">37.5% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: CRIF *Portfolio as of June 2023 Fintechs lead personal loan growth Personal loans are dominated by public sector banks and private banks by value; and NBFCs by volume. Loan originations grew twice over in both value and volume from FY20 to FY23. “Fintechs lead the growth in small ticket and small tenor loans. Their share in originations volume for ticket size under-₹25,000 loans went up to 75% in FY23 from 67% in FY20,” said CRIF. MSME and microfinance loan originations volume grew 20.8% and 16.6% respectively, as per the CRIF report. "MSME lending experienced substantial percentage growth in originations by value, with the micro segment being the largest contributor. These trends, combined with an encouraging improvement in delinquencies, thus, reflect the resilience of the Indian economy,” said <keyword id="20372020" type="General" weightage="20" keywordseo="sanjeet-dawar" source="keywords">Sanjeet Dawar</keyword>, MD of CRIF High Mark.

India’s corporates in ‘wait and watch’ mode as consumption loans zoom

<ul><li><keyword id="6354427" type="General" weightage="100" keywordseo="apple" source="Orion">Apple</keyword> enhances Safari Private Browsing to protect against trackers.</li><li>Content Warning feature will hide explicit images and videos.</li><li><keyword id="8967912" type="General" weightage="80" keywordseo="lockdown-mode" source="Orion">Lockdown Mode</keyword> added to protect users from targeted spyware attacks.</li></ul>During its annual developer conference, WWDC 2023, Apple made significant announcements regarding updates to its operating systems, including iOS, iPadOS, watchOS, tvOS, and MacOS. The company also highlighted its latest advancements in privacy and security, unveiling noteworthy enhancements such as Safari Private Browsing, Communication Safety, Lockdown Mode, and improvements in app privacy. Business Insider India delves into the details of these new features that will be available on Apple devices. <cmsannotation type="cmsannotation" annotationid="Safari goes more secure" comment="subhead" text="Safari goes more secure">Safari goes more secure</cmsannotation> This year Safari has undergone a significant update to provide even stronger protection against trackers and unauthorised access to user devices. The enhanced Private Browsing feature now automatically locks the browsing window when idle, allowing users to keep their tabs open even when they step away from their device. This ensures that their browsing activity remains private and secure. Moreover, Apple has implemented improvements to the <keyword id="6359897" type="General" weightage="80" keywordseo="photos" source="Orion">Photos</keyword> privacy permissions. A new embedded Photos picker enables users to selectively share specific photos with apps while keeping the rest of their photo library confidential. When an app requests access to the entire photo library, users will receive more detailed information about what will be shared, accompanied by periodic reminders of their previous choice. These enhancements give users better control over their personal photos and reinforce their privacy preferences. <cmsannotation type="cmsannotation" annotationid="Enhanced privacy in communication" comment="subhead" text="Enhanced privacy in communication">Enhanced privacy in communication</cmsannotation> The enhanced version of Communication Safety has been expanded to include video content in addition to still images. It now offers an API that enables developers to seamlessly incorporate Communication Safety directly into their applications. Furthermore, this feature has been extended to ensure the safety of children while sending and receiving content through various channels, including AirDrop, FaceTime video messages, the Phone app (when receiving Contact Posters), and the Photos picker for selecting content to send. <cmsannotation type="cmsannotation" annotationid="Link-Tracking Protection now available in Messages, Mail, and Safari Private Browsing" comment="subhead" text="Link-Tracking Protection now available in Messages, Mail, and Safari Private Browsing">Link-Tracking Protection now available in Messages, Mail, and Safari Private Browsing</cmsannotation> Certain websites use additional data in their URLs to monitor users across different websites. However, with the forthcoming updates expected later this year, this supplementary information will be eliminated from the links shared by users in Messages and Mail. Despite this change, the shared links will continue to function normally without any issues. <cmsannotation type="cmsannotation" annotationid="Passwords and Passkeys updates" comment="subhead" text="Passwords and Passkeys updates">Passwords and Passkeys updates</cmsannotation> To facilitate the convenient and secure sharing of passwords and passkeys, users have the option to form a group where a collection of passwords can be shared. Within this group, all members possess the ability to add and modify passwords, ensuring their accuracy and currency. The sharing process takes place through iCloud Keychain, employing end-to-end encryption for enhanced security. Furthermore, Safari has introduced a new feature that automatically autofills one-time verification codes received in Mail, enabling seamless and secure logins without having to switch away from the browser. With the ability to share passwords and passkeys among groups, users can ensure that everyone stays updated and maintains access to shared accounts. <cmsannotation type="cmsannotation" annotationid="Sensitive content warning" comment="subhead" text="Sensitive content warning"><keyword id="17634507" type="General" weightage="50" keywordseo="sensitive-content-warning" source="Orion">Sensitive content warning</keyword></cmsannotation> Sensitive Content Warning is an optional feature designed to assist adult users in preventing exposure to undesired nude images and videos. This feature provides protection in various scenarios, including Messages, AirDrop, the Phone app (when receiving a Contact Poster), and FaceTime video messages. By enabling Sensitive Content Warning, adults can actively avoid encountering explicit content that they prefer not to see. <cmsannotation type="cmsannotation" annotationid="Lockdown mode" comment="subhead" text="Lockdown mode">Lockdown mode</cmsannotation> Lockdown Mode has been enhanced to provide better safeguards for individuals who may become targets of mercenary spyware due to their identity or professional activities. Activating Lockdown Mode not only minimises vulnerabilities but also reduces the potential for attacks on individuals requiring heightened protection. Furthermore, Lockdown Mode will now be available on watchOS as well.

Apple goes big on privacy, security of iPhone, Apple Watch and more at WWDC 2023, know all details here

Dearest gentle reader, <keyword id="19911410" type="General" weightage="20" keywordseo="Bridgerton" source="keywords">Bridgerton</keyword>’s much-awaited season 3 is finally here and this author is beside herself with elation. Gracing our screens today will be the ton’s hopeful new debutantes arriving in London for the season, along with some lovely ladies dusting themselves off after being put on the shelf. What this author is curious to see is if our favourite wallflower will bloom to her full potential or wither away. Based on Julia Quinn’s bestselling novel series that follows the lives of the eight, very tight-knit Bridgerton siblings, Bridgerton is set in 19th-century England, during the <keyword id="21473420" type="General" weightage="20" keywordseo="Regency-era" source="keywords">Regency era</keyword>. The show became wildly popular after its initial release in 2020, serving as a refreshing treat to many of our lockdown-addled minds. With grandeur, classical music, sassy ladies, handsome lords and a healthy dose of swoon-worthy romance, Bridgerton has everything one would expect out of a period drama and more. After <keyword id="20600638" type="General" weightage="20" keywordseo="shonda-rhimes" source="keywords">Shonda Rhimes</keyword> brought Daphne Bridgerton and Simon Basset’s steamy and soul-stirring romance to life in the first season, the bar of expectations was sky-high for season 2. While Simone Ashley and Jonathan Bailey's portrayal of Kathani Sharma and Anthony Bridgerton did manage to deliver in the sizzling chemistry department, viewers did find the writing in the second season lacking in steam. All sights are set on season 3, where <keyword id="20000187" type="General" weightage="20" keywordseo="Nicola-Coughlan" source="keywords">Nicola Coughlan</keyword> is playing <keyword id="21235850" type="General" weightage="20" keywordseo="Penelope-Featherington" source="keywords">Penelope Featherington</keyword> and <keyword id="20423658" type="General" weightage="20" keywordseo="Luke-Newton" source="keywords">Luke Newton</keyword> of Colin Bridgerton. While the first of the two instalments this season is already out in many parts of the world, and will release in India at 12:30 PM IST today, the second one is slated to release in June. Critics on Rotten Tomatoes have rated it 7 out of 10. And word on the street is that this season is bodice-ripping. The humble reviewer at Rotten Tomatoes says, “As always, the period reconstruction with contemporary flourishes is impeccable, while Queen Charlotte's wigs become more and more improbable.” For the unversed, the first season ended with the young Miss Featherington revealing her alter ego: gossip rag author <keyword id="21235851" type="General" weightage="20" keywordseo="Lady-Whistledown" source="keywords">Lady Whistledown</keyword> to the viewers. This season will focus on Penelope trying to find a husband who would accept her with her secret identity and battle unrequited love while #Polin navigates the much-loved friends-to-lovers trope. Coughlan, who has already proved her mettle as an actor in another popular <keyword id="19897536" type="General" weightage="20" keywordseo="Netflix" source="keywords" meta.keywordsubtype="org" meta.entityname="Netflix" meta.hostid="261" meta.entityid="Netflix">Netflix</keyword> original Derry Girls and Newton, most known for his portrayal of the third Bridgerton brother, has expressed excitement over stepping into the shoes of the main characters after being a part of the franchise for two seasons. For those of us left wanting after season 2, we’ll be seeing a lot more of <keyword id="21680587" type="General" weightage="20" keywordseo="Kate-and-Anthony" source="keywords">Kate and Anthony</keyword> against the backdrop of marital bliss this season. Unfortunately, Daphne (played by Phoebe Dynevor) will not be making an appearance this time, but the rest of the Bridgerton siblings and the entire Featherington jing-bang will be in attendance! We will also be seeing some new faces this season, including Hannah Dodd playing a more grown-up Francesca Bridgerton.

Bridgerton season 3 will be out on Netflix India today! Here’s everything you need to know about the popular period drama

<ul><li>The festive-season momentum of increased hiring in retail, e-commerce, and BFSI sectors will likely spill over into 2023. </li><li>A similar trend is expected in the services-oriented industries of hospitality, and airline sectors as people continue to travel more to make up for the Covid-time isolation. </li><li>A survey by <a href="https://economictimes.indiatimes.com/epaper/delhicapital/2022/dec/15/et-corp/indian-it-hiring-to-buck-global-trend-may-pick-up-in-23/articleshow/96235151.cms">Randstad</a> says that hiring in the Indian IT sector is likely to rise in the first quarter of 2023 as seven out of 10 companies plan to increase their headcount in the period. </li><li>Data science, analytics, and other technology-related job roles are likely to continue to be in demand in the new year.</li></ul>Specialised IT, telecom and service-oriented jobs will be on the upswing in 2023 as increased digitalisation, 5G expansion and a claw back by service sectors to pre-Covid levels of growth — will necessitate increased hiring in these sectors.Also, the momentum from the festive season-driven hiring growth in retail, e-commerce and BFSI (banking, financial services and insurance) sectors witnessed in the last quarter of 2022 will likely spill over into the next year, industry players say. <cmsannotation type="cmsannotation" annotationid="High-skilled IT jobs, telecom sector to drive growth" comment="subhead" text="High-skilled IT jobs, telecom sector to drive growth">High-skilled IT jobs, telecom sector to drive growth</cmsannotation> Despite the large-scale job cuts and hiring freeze affected by global technology players, the Indian IT sector is likely to defy the global trends and see hiring next year – especially for specialised digital skills. A survey by staffing and recruiting services firm <a href="https://economictimes.indiatimes.com/epaper/delhicapital/2022/dec/15/et-corp/indian-it-hiring-to-buck-global-trend-may-pick-up-in-23/articleshow/96235151.cms">Randstad</a> says that hiring in the Indian IT sector is likely to pick up in the first quarter of 2023 as seven out of 10 companies plan to increase their headcount during the period. And the country’s big push for 5G expansion in 2023 will see a surge in hiring in the telecom sector as well. “Sectors such as IT, healthcare, e-commerce will continue to grow and with the advent of 5G, we will see a sharp rise in telcom jobs as well in the next few quarters. With the rising job market and ever-evolving concept of job, it will be interesting to see how India defines the future of work,” Sashi Kumar, head of sales at Indeed India, told Business Insider India. To be sure, the hiring pace in the Indian IT sector slowed down this year and this was particularly seen in the case of freshers. However, experts say that the demand for IT digital skills like SAP, salesforce developers, dot net, data analytics, java, full stack, devOps, and cloud infra will continue to remain strong in 2023. “We do see an upswing in demand for digital skills as the services sector continues to hire,” Nitin Dave, CEO – Quess Staffing Solutions told Business Insider India. According to a recent Indeed survey, around 71% of companies recruited people with IT abilities and skills this year. Data science, analytics, and other technology-related job roles are likely to continue to be in demand next year as well, according to Kumar of Indeed India. “High-skilled engineering employees who have prowess for futuristic tech are in demand and they have multiple opportunities, hence we see that employability is positive,” Kumar added. Crypto roles - which had the biggest share of hires in overall technology job roles, increasing from 41.22% in 2019-20 to 67.48% in 2021-22 – will continue its upward growth with high demand for application developers, data engineers and full-stack developers. Another big source of demand for human resources will be from global capability centres (GCCs). “We also expect to see an increase in job demand from the growing number of GCCs in India,” Dave added. GCCs will create over 3.64 lakh new jobs over the next 12 months, a 38% rise from last year, according to a <a href="https://www.livemint.com/technology/tech-news/gccs-to-ramp-up-india-hiring-11670426280595.html">report</a> by staffing firm NLB Services. <cmsannotation type="cmsannotation" annotationid="Tier 1 cities to dominate IT hiring, Tier 2,3 will also join the party" comment="subhead" text="Tier 1 cities to dominate IT hiring, Tier 2,3 will also join the party">Tier 1 cities to dominate IT hiring, Tier 2,3 will also join the party</cmsannotation> Bengaluru will continue to lead in hiring of IT professionals. As per Quess data, the overall tech hiring is expected to be dominated by Tier 1 and Tier 2 cities like Hyderabad, Chennai, Mumbai, Pune, NCR, Ahmedabad, Kolkata, Jaipur and others. “We are seeing a positive growth of product and engineering roles in India, which will grow exponentially in the coming years. As a result of the pandemic’s digital push, there is a rise in jobs in engineering and R&amp;D being made available in Tier 2 and 3 cities as well,” Kumar said. Cities like Ahmedabad, Vadodara, Kochi, Indore, Jaipur, Surat and others are expected to contribute over 6.5% of total R&amp;D jobs in 2023, according to data by Indeed. <cmsannotation type="cmsannotation" annotationid="Jobs in the services industry on the upswing" comment="subhead" text="Jobs in the services industry on the upswing">Jobs in the services industry on the upswing</cmsannotation> Hospitality industry will be a key employer as people have started travelling again with a vengeance and this trend is not likely to slow down despite high inflation and interest rates, industry players added. “We are also optimistic that the hospitality, aviation and retail sectors will soon return to pre-pandemic levels,” said Dave. The aviation industry – one of the most affected industries due to the pandemic lockdowns – had to cut <a href="https://www.businesstoday.in/industry/aviation/story/covid-19-impact-10-jobs-in-aviation-sector-lost-between-apr-2020-and-dec-2021-says-govt-327667-2022-03-28">10% or 19,200 jobs</a> between April 2020 and December 2021 due to the Covid-19 pandemic, VK Singh, Minister of State for Civil Aviation said in March this year. However, the ministry in August <a href="https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/indias-aviation-sector-likely-to-employ-1-lakh-more-people-in-next-two-years/articleshow/93432356.cms">said</a> the Indian aviation industry would employ over 1 lakh people in the next two years. A growing regulatory push for ESG (environment, social and governance) compliance will drive demand for professionals in this space next year. “We are also seeing more roles in the sustainability and ESG space ranging from engineers, and research analysts to consultants,” Kumar said. Besides growth in regular jobs, g<a href="https://www.businessinsider.in/careers/news/india-to-add-9-million-gig-jobs-by-2025-says-indeed-report/articleshow/96060459.cms">ig jobs</a> in the retail and e-commerce sectors – which saw a steep growth this year – will continue to rise in 2023, experts say. As per Indeed, 9 million gig workers will be added to the Indian workforce in the next three years. “Companies have also begun to invest in platforms and procedures for gig labour, underscoring how crucial they are to India's future job growth,” said Kumar. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/fintech-player-zaggle-files-ipo-papers-with-sebi-to-mobilise-funds-via-ipo/articleshow/96367455.cms">Fintech player Zaggle files IPO papers with Sebi to mobilise funds via IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/tirupati-lucknow-madurai-and-other-non-metros-that-transacted-the-most-for-movies-as-per-bookmyshow/slidelist/96366956.cms">Tirupati, Lucknow, Madurai and other non-metros that transacted the most for movies, as per BookMyShow</a>

Jobs market outlook 2023: Specialised IT, telecom and service-oriented sectors to drive hiring

<ul><li>WhatsApp <keyword id="6355515" type="General" weightage="20" keywordseo="business" source="Orion">Business</keyword> has now become a survival tool for <keyword id="15175643" type="General" weightage="20" keywordseo="solopreneurs" source="Orion">solopreneurs</keyword> who cannot afford to employ staff to take care of customers.</li><li>Features in WhatsApp Business allow solopreneurs to grow customer networks by spending as little as ₹1,000 to market their goods and services on Meta’s other social platforms.</li><li>Features like “away” and “auto reply” help solopreneurs handle a larger number of customers with ease.</li></ul> Ghosting is rude, but not replying to a customer on time can cost your business a lot of money. Shikha Yadav, a beautician in Lucknow, learned this the hard way when she could not take her regular customer’s call. For solopreneurs – who don’t have full blown customer service teams – WhatsApp Business has come as a lifesaver as it enables them to answer queries when they are busy. In fact, WA Business is now a shortcode for success when it comes to small and even medium businesses as this app has solved many problems of such entities and given them affordable tools to expand their reach and fetched new customers for their offerings. Automation and bots are not just for the big businesses. Yadav used to service her customers in Lucknow by visiting their homes but started losing her regular customers as she could not take their calls while she was attending to others. Soon one of her customers, in frustration, advised her to download the WhatsApp Business app to prevent customer attrition with the “auto reply” and “away” features. Explains Yadav, “The ‘away message’ feature has made my life simpler. My clients now receive a timely response from me, which has helped me maintain my relationships with them.” <div type="image" title="Shikha Yadav, a beautician in Lucknow is using WhatsApp Business for her salon service" msid="94673543" hostid="261" caption="&amp;lt;p&amp;gt;Shikha Yadav, a beautician in Lucknow is using WhatsApp Business for her salon service&amp;lt;/p&amp;gt;"></div> The pandemic hurt small and large businesses alike, but for solopreneurs like Yadav, life came to a standstill and connecting with her existing and new customer base was a huge challenge. Many solopreneurs – mainly standalone service providers like beauticians, tuition teachers, tailors, handicraft manufacturers and even small farmers – who lost their existing customer base due to the disruptions and lockdowns during the pandemic, have now started using technology tools to rebuild their customer networks by showcasing their products and services through WhatsApp. Social commerce is the new kid in town Over the last few years, even grandparents have taken to social platforms like WhatsApp, Facebook and Instagram. Now, these social platforms are being leveraged by housewives and solopreneurs to create an income from their social networks by selling them unique products and services. The seamless interface between the three social platforms is also helping these small businesses market their products and services. Explains beautician Yadav, “I am not very well educated, but I can still use WhatsApp Business App easily.” Just as chatting with friends and family on WhatsApp is easy, conducting business on it is easier. The social platform has become a tool that many housewives use to resell products they buy from other e-commerce platforms in smaller towns and villages. The seamless access to Facebook and Instagram, where they can boost their posts to help more customers discover their products and services, has also helped solopreneurs immensely. Says Yadav, “For a small amount, I can boost my post and promote my services on Facebook and Instagram. In fact, I am now able to showcase my services through my own videos and that has really helped me get more clients.” Technology tools are spawning new businesses In many cases, the WhatsApp Business app has actually spawned new businesses that did not even exist prior to the pandemic. Rajeev Khera’s Chakki Peesing is a company that grinds and delivers freshly ground pulses, grains and wheat to consumers in Gurugram. Khera’s family comes from Madhya Pradesh and it was during the pandemic, while providing grains to migrant workers camping in his society, an idea to start his own business was born. The best variety of wheat called Sharbati comes from Madhya Pradesh and Khera wanted to bring the flour made from that wheat to his customers across Delhi NCR. In 2020, Khera decided to start a hyperlocal business of supplying freshly-ground flour to customers in Gurugram. Chakki Peesing started with one chakki – Khera insists it is not a flour mill but a traditional way of grinding flour at low intensity to preserve its goodness. Khera started with 100 customers and now serves 5,000 spread across Delhi NCR. He explains: “Our fundamental proposition is against packaged atta (flour) as preservatives are added to it to increase shelf life. Our promise is to serve freshly-ground flour from the best wheat. When we started in 2020, the challenge was to reach our clientele, who are mostly women as they buy groceries. Having WhatsApp Business helped us connect with our customers.” The pitch to eat healthy is influencing choices of consumers across categories and Khera has found a sweet spot with his offering. His offering now includes flour of different kinds and even mixes. He offers consultation and customised atta mixes to his clients with different needs. <div type="image" title="Rajiv Khera uses WhatsApp Business app to manage customers in different locations" msid="94673662" hostid="261" caption="&amp;lt;p&amp;gt;Rajiv Khera uses WhatsApp Business app to manage customers in different locations&amp;lt;/p&amp;gt;"></div> How does WhatsApp Business app work? The WhatsApp Business app allows entrepreneurs to showcase their offerings through a catalogue and the cart feature enables consumers to choose multiple products and send the order as a single message. Explains Khera, “The messages come to us in the form of a cart. We also used the quick-reply feature to answer frequently-asked questions on the products.” This has helped many solopreneurs like Khera save time and manpower in the form of automated replies. WhatsApp Business also allows multiple groups to be managed by the same entrepreneur – Khera uses it to manage customers in different locations of NCR. Now Chakki Peesing is looking to go national with its offerings by tying up with smaller entrepreneurs across India. Making it easy for customers to connect WhatsApp Business enables users to greet new customers automatically with a customary welcome message, which can be automated. It also allows users to use shortcuts to respond to common questions fast and reply instantly to customers, even when they are not available. The app also helps users to stay organised by keeping business and personal conversations separate. Marketing their businesses is also easy – the app has simple tools that allow them to promote their posts on Instagram and Facebook. A tuition teacher or a saree seller in Indore can now reach a much wider audience through the <keyword id="15175642" type="General" weightage="20" keywordseo="WhatApp-Business" source="Orion">WhatApp Business</keyword> app. When the entire world was shut down due to the pandemic, Jeevan Handicrafts in Rajasthan found no takers for its handicrafts that it used to sell to tourists. Explains Deepak Badaria, who runs the small handicrafts business in Rajasthan: “We were also exploring new things during the pandemic and after the lockdown I heard of the WhatsApp Business App. I quickly organised my products into a catalogue and started sharing it with friends and other groups. Before launching his business on WhatsApp, my company Jeevan Handicrafts used to handle only 2-3 customers per day but today, with this feature, we are able to manage 150-200 customers per day.” Jeevan Handicrafts has customers even from the UK and the US as he promotes his wares on Facebook and Instagram using his laptop. Most of his customers are wholesalers and they directly get his WhatsApp Business number from Facebook and contact him. <div type="image" title="Jeevan Handicrafts has customers from the UK and the US as he promotes his business using Whatsapp Business" msid="94673727" hostid="261" caption="&amp;lt;p&amp;gt;Jeevan Handicrafts has customers from the UK and the US as he promotes his business using Whatsapp Business&amp;lt;/p&amp;gt;"></div> Transparency and better pricing The search for better prices took the founder of Mechanic Guru, Gaurav, to WhatsApp Business after he started his business that sought to connect car owners with garages that could repair and serve all kinds of cars. He tied up with garages across Gurugram to provide car owners the ease of booking slots to repair their cars. However, building a customer network was not easy – even after he hired a team to market his business on digital platforms. He switched to the app and brought his existing customers on the app to provide them with live updates. The purpose was to provide transparency in pricing. Says Gaurav, “I spend ₹1,000 a week on promotions and it fetches me 25 queries.” He manages to gain customer leads from social platforms and services them on WhatsApp by sharing his catalogue. Car owners can also book their slots for car services using a QR Code or by simply sending a message on the Mechanic Guru’s WhatsApp business account number. <div type="image" title="The founder of Mechanic Guru, Gaurav, used WhatsApp Business to tie up with garages across Gurugram" msid="94673817" hostid="261" caption="&amp;lt;p&amp;gt;The founder of Mechanic Guru, Gaurav, used WhatsApp Business to tie up with garages across Gurugram&amp;lt;/p&amp;gt;"></div> WhatsApp Business has given a <keyword id="2291542" type="General" weightage="20" keywordseo="new-lease-of-life" source="Orion">new lease of life</keyword> to many solopreneurs who had lost their markets and customer bases after the lockdowns began in 2020. Not only have small businesses got a new lease of life, but the suite of services that WhatsApp Business offers is also spawning new ideas like Chakki Peesing. For those who want to spread their wings and go national or even global, WhatsApp Business offers an architecture that allows APIs to plug in and use the existing platform to service customers at a much larger scale. SEE ALSO <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-emerges-as-the-worlds-largest-producer-consumer-of-sugar/articleshow/94664666.cms">India emerges as the world's largest producer, consumer of sugar</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-incs-foreign-commercial-borrowings-rise-by-4-6-in-august/articleshow/94664946.cms">India Inc's foreign commercial borrowings rise by 4.6% in August</a>

WhatsApp Business gives a new lease of life to solopreneurs across India and Bharat

<ul><li>For the <keyword id="9979725" type="UNKNOWN" weightage="20" keywordseo="academic-session-of-2020-21">academic session of 2020-21</keyword>, classes for first-year students will begin from November 1. </li><li>Students who wish to opt-out of the program or migrate are entitled to a full refund in this session. </li><li>UGC has asked education institutions not to impose any cancellation charges for refunding the fee till November 30. </li></ul>After months of waiting, the University Grants Commission has released an alternative academic calendar for high institutions in India. For the <keyword id="55795" type="PERSON" weightage="20" keywordseo="academic-session">academic session</keyword> of 2020-21, classes for first year students will now begin from November 1. <div type="twitter" handle="EduMinOfIndia" handlename="Ministry of Education" image="http://pbs.twimg.com/profile_images/1296063790975315968/-A2p_rP6_normal.jpg" favoritecount="147" retweetcount="40" status="In view of the COVID-19 pandemic, the Commission has accepted the Report of the Committee and approved the… https://t.co/Bu8bdaSvhT" createdat="1600758517000" id="1308302161592238080"></div> All the higher education institutions are advised to teach six days a week to compensate for the learning hours lost due to COVID-19. Institutions have also been asked to cut short the holiday breaks. Students who seek cancellation or migration to get a full refund Students who wish to opt-out of the program or migrate are entitled to a full refund in this session. “In order to avoid financial hardship being faced by the parents due to lockdown and related factors, full refund of fees be made on account of all cancellation of admissions/ migration of students, up to 30.11.2020, for this very session as a special case," the notification read. UGC has asked education institutions not to impose any cancellation charges for refunding the fee till November 30. “To be crystal clear, the entire fees, including all charges, be refunded in totality (zero cancellation charges) on account of cancellation/ migration up to 30.11.2020. Thereafter, on cancellation/ withdrawal of admissions up to 31.12.2020, the entire fee collected from a student will be refunded in full after deduction of not more than Rs 1000 as processing fee,” the notification read. Coronavirus has had a severe impact on students graduating high school. Most of the entrance tests, including the Joint Entrance Examination and National Eligibility cum Entrance Test, were postponed multiple times due to COVID-19. Due to the pandemic, some of the institutions are yet to conduct final year examinations for students. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/insurancedekho-raises-its-maiden-20-million-from-parent-co-plans-to-expand-to-its-reach-in-the-real-bharat/articleshow/78250655.cms">INTERVIEW: InsuranceDekho raises its maiden $20 million from parent co – plans to expand to its reach in the ‘real Bharat’</a>

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