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<ul><li>Jobs in India’s IT sector will grow in 2020, in terms of both hiring and compensation. </li><li>The sector might witness almost 10% job growth— for freshers and juniors. </li><li>It had already created over 40,000 job opportunities in the first half of FY20. </li><li>Mumbai, Bangalore, Pune and Delhi are expected to create nearly 23,000 <keyword id="57650" type="PERSON" weightage="20" keywordseo="IT-jobs">IT jobs</keyword> in the same period.</li></ul>The coming new year could bring much-needed good news for aspiring young engineers. In 2020, India’s IT sector jobs might grow by 10% — for freshers and juniors. The sector created over 40,000 job opportunities in the first half of FY20, according to a report by staffing firm <keyword id="133742" type="COMPANY" weightage="20" keywordseo="TeamLease">Teamlease</keyword> Services. “This year, there has been sustained growth in the sector which now stands at ₹13 trillion. The government has backed the industry strongly introducing many reforms like the national level programme to enable mainstream adoption of AI and the ease of doing business for IT led start-ups. These have been the key growth drivers for job creation,” said Supaul Chanda, Business Head, TeamLease Digital. As many as 23,000 IT jobs will be created in Mumbai, Bangalore, Pune and Delhi. “While metro cities will continue to captivate maximum professionals, even geographies like Kolkata, Chandigarh and Indore will be the hot spots for IT jobs,” Chanda added. These IT jobs will traverse across sectors. Manufacturing and services sectors — including agriculture, telecom, real estate and KPOs — will increase hiring for tech roles. The sector had employed over 4.1 million people during the second half of FY19, the report said. People hired in April and September 2019 <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">Sectors </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;">New hires </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;">Logistics </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;">28,650 </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;">Educational Services </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;">24,380 </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;">FMCG </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;">17,400 </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;">FMCD </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;">17,100 </td></tr></tbody></table> The greener <a href="https://www.businessinsider.in/careers/news/benching-firing-and-re-deploying-the-story-of-20000-employees-at-tech-majors/articleshow/71934414.cms">outlook for 2020</a> might also make up for the many jobs lost in 2019 in auto, textiles and other sectors. “Overall, 8 out of the 19 sectors are expected to witness a double digit rise in job creation. Logistics and educational services alone will add 14.36% more jobs during the period October-March, 2019-20 indicting the dip in the net employment outlook to be more of a passing phase,” said Rituparna Chakraborty, co-founder &amp; executive vice president, TeamLease Services. The firm also predicts that blue collar jobs in functional areas will grow by 3%. See also: <a href="https://www.businessinsider.in/careers/news/india-is-expected-to-witness-7-surge-in-job-creation-in-healthcare-it-and-ecommerce-over-the-next-six-months/articleshow/72440967.cms">India is expected to witness 7% surge in job creation — Healthcare, IT and ecommerce to hire over the next six months</a> <a href="https://www.businessinsider.in/tech/enterprise/news/tcs-infosys-hcl-tech-earnings-growth-is-slowing-that-will-mean-more-jobs-for-freshers/articleshow/73027371.cms">Indian techies looking to change jobs in 2020 — business is getting tighter for the likes of Infosys, TCS, HCL Tech and their peers</a> <a href="https://www.businessinsider.in/careers/news/ai-and-machine-learning-jobs-are-in-demand-but-hiring-is-difficult/articleshow/72879872.cms">Indian CEOs are having a tough time retaining AI, ML, and data science experts</a>

IT jobs will grow by 10% in 2020 and so will salaries, says Teamlease survey

New Delhi, Jan 2 () The country's manufacturing sector activity improved in December driven by new orders that rose at the fastest pace since July as companies ramped up production and resumed hiring efforts, a monthly survey said on Thursday.
 Notwithstanding the improvement in operating conditions during December, companies were cautious regarding the annual outlook of 2020 and this could have an impact on job creation and investment in the year, the survey said.
 The IHS Markit India Manufacturing PMI rose from 51.2 in November to 52.7 in December, registering the "joint-strongest" improvement in 10 months.
 "Factories benefited from a rebound in demand, and responded by scaling up production to the greatest extent since May. There were also renewed increases in input purchasing and employment during December," said Pollyanna de Lima, Principal Economist at IHS Markit.
 As per the survey, new work orders witnessed marked improvement, with the pace of expansion picking up to the fastest since July.
 Moreover, the uptick in total sales was supported by higher demand from overseas. New export orders expanded for the 26th month in a row, albeit modestly, the survey said.
 This is the 29th consecutive month that the manufacturing PMI has remained above the 50-point mark. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.
 Lima, however, said "a note of caution is evident from the survey's measure of business confidence. The degree of optimism signalled at the end of 2019 was the weakest in just under three years, reflecting concerns over market conditions, which could restrict job creation and investment in the early part of 2020".
 According to the survey, production is expected to expand in the coming 12 months, but the degree of optimism weakened to a 34-month low.
 On the inflation front, the overall rate of inflation reached a 13-month high.
 "At the same time, price indicators showed accelerated rates of inflation for both input costs and output charges. The latter reflected a combination of improved pricing power, given the favourable demand environment, and efforts to protect margins from cost rises," Lima said.
 The Reserve Bank of India is scheduled to hold its Monetary Policy Committee (MPC) during February 4-6, 2020. DRR ANS
ANS

India's manufacturing sector activity rises in Dec; cos cautious on 2020 outlook

Mumbai, Oct 11 (IANS) With businesses yet to revive amid the pandemic, the outlook for profit margins by Indian manufacturing companies continues to remain negative for the October-December quarter, according to a survey by the Reserve Bank of India (RBI). The 'Industrial Outlook Survey of the Manufacturing Sector for Q2:2020-21' noted that respondents maintained negative sentiments on selling prices and profit margins in the July-September quarter, though pessimism moderated. However, manufacturers expect further improvements in production, capacity utilisation and order books in Q3 of FY 2020-21. Going forward, respondents polled some recovery in the external demand situation and job landscape, the survey showed. "The business expectations index (BEI) reverted to the expansion zone and stood at 111.4 in Q3:2020-21 from 99.5 in the previous quarter," it said. Further, the overall financial situation and availability of finance portrayed optimism. It noted that the overall business sentiment in the Indian manufacturing sector, as reflected by the business assessment index (BAI), surged from a record low at 55.3 in the first quarter of FY 2020-21 to 96.2 in the second quarter, though it remained in the contraction zone. --IANS rrb/sn/vd

Manufacturing firms' profit outlook in Oct-Dec remains negative

New Delhi, Dec 3 () Indian banks need an additional USD 7 billion (Rs 50,000 crore) equity by 2020-21 to support loan growth and cover for bad loans, Fitch Ratings said on Tuesday adding a slowing economy could exacerbate asset-quality tension for a sector grappling with weak recoveries and ageing provisions.
 In its 2020 Outlook for 'Asia-Pacific Emerging Market Banks', the rating agency maintained a negative outlook on Indian banks, based on its expectations of continued weak performance despite trends showing this could be past the trough, and ongoing capital requirements.
 "Non-bank stress coupled with rising macro headwinds pose further challenges for asset quality, particularly at state banks which continue to experience capital constraints, delays in bad-loan recoveries, and poor earnings. More capital is needed to insulate the banks' weak balance sheets and to sustain loan growth," it said.
 Fitch said the rating outlook for most Indian banks mirrors the stable outlook on India's sovereign rating.
 It estimated that "Indian banks will require an additional USD 7 billion of equity by FY'21 (2020-21) to support loan growth, achieve 75 per cent NPL (non performing loan) cover, and build a buffer over the minimum Basel III capital standards."
 Public sector banks will require most of this capital as the USD 10 billion being injected into banks in 2019-20 will go mainly towards bridging regulatory capital gaps, providing for ageing impaired loans, and absorbing the costs of merging 10 state banks into four by April 2020.
 "A slowing economy could exacerbate asset-quality tensions for a sector which is already grappling with weak recoveries and ageing provisions," it said. "The improvement in the impaired-loans ratio in 2018-19 is unlikely to be sustained if stresses on non-banks, real estate and SMEs remain unresolved, due to both tight liquidity and the macroeconomic slowdown."
 Net interest margins (NIMs) are likely to face pressure as floating-rate loans have to be linked to external benchmarks in a bid to ensure effective monetary transmission, it said.
 "This will cause a further narrowing in state banks' income buffers which have declined in recent years due to poor asset quality and lower growth, leaving both earnings and equity vulnerable to higher-than-expected credit costs."
 Fitch said the systemic stress across non-banks would deal a significant setback to recovery in the banking sector, reversing recent improvements in performance, and posing solvency risks to banks with the thinnest buffers.
 Fitch conducted a stress test to examine the potential impact on banks of pressures on NBFCs developing into a broad crisis.
 "We estimate that the scenario would leave banks with an aggregate shortfall of USD 10 billion to meet regulatory minimums, and USD 50 billion below the level that we believe would provide an adequate buffer," it said. ANZ ANU

Indian banks need USD 7 bn additional capital :Fitch

Mumbai, Feb 13 () India Ratings has revised its outlook for the construction industry to negative for FY21 on the back of muted order inflows and subdued bank credit flow. The outlook revision follows significant risks emerging from the exposure of certain construction companies to the state governments of Andhra Pradesh, Telangana, Tamil Nadu and Bihar, the ratings agency said. "There has been a higher utilisation of working capital limits, especially non-fund based facilities. Also, the delays in the sanction of additional limits is likely to adversely affect the execution capabilities and ability of infrastructure companies to bid for new orders," India Ratings' Senior Analyst Sudeep Arekar told reporters here. The agency noted that the construction sector is heavily dependent on bank credit flow, which continues to be subdued. According to Ind-Ra, the utilisation of fund and non-fund based limits, as a percentage of the sanctioned limits, has largely remained static in FY19 in relation to FY18, while the ratio of these limits in relation to the order books for higher rated entities continued to decline. "Sector participants at the lower end of the rating spectrum or those with highly levered balance-sheets might face difficulties in obtaining enhancements in their working capital limits. This could hamper their ability to execute their order books in a timely manner, or bid for new orders over FY21," he added. The agency has also maintained negative outlook for the real estate sector for the next fiscal on the back of decline in sales, negative free cash flows, stricter regulatory compliances and slowdown in lending from banks and NBFCs. "While the commercial and retail segments are expected to perform better, residential sector will be impacted adversely. Grade 1 developers, with good track record and sales, will, however continue to perform better next fiscal," the agency's Director Ashoo Mishra said. Further, India Ratings has maintained negative outlook for housing finance companies (HFCs) on the back of aggressive competition from banks, resulting in margins shrinking from the already modest levels. "This is because elevated borrowing costs, both on account of the recalibration of funding mix and challenges to mobilise funds through capital market borrowings, have increased funding cost," Senior Analyst Jinay Gala said. The agency does not expect any significant impact of the recently introduced leverage caps in the medium term, as most HFCs operate at moderate leverage levels. "However, margin pressures along with leverage constraints would keep return on equity capped for HFCs in the medium to long term. Their ability to buffer the spreads through non-housing loans such as construction finance, lease rental discounting, loans against property or institutional lending, will diminish, as these segments are facing their own set of challenges," he added. PSK ABMABM

India Ratings revises outlook for construction sector to negative

<ul class="summary-list"><li>The outlook for <keyword id="6354680" type="UNKNOWN" weightage="60" keywordseo="credit">credit</keyword> for industrial companies reached its best level in 15 months in March. </li><li>Industrial <keyword id="6354298" type="DEFINITION" weightage="60" keywordseo="Stocks">stocks</keyword> have been gaining on economic growth prospects and an <keyword id="17408" type="PERSON" weightage="60" keywordseo="infrastructure">infrastructure</keyword> bill in the pipeline. </li><li>The S&amp;P <keyword id="62413" type="COMPANY" weightage="60" keywordseo="industrials">Industrials</keyword> sector has gained about 8% this year. </li></ul>The strongest credit outlook for US industrial companies in more than a year and work in Washington on an infrastructure bill should support further stock gains for the sector.A forward-looking index of credit opinions for industrial companies in March rose to its highest level in 15 months, with improved conditions arriving as shares of industrial firms, as a whole, have outpaced other sectors this year.The Credit Consensus Indicators index came in at 50.6 in March, the best level since December 2019, said Credit Benchmark, which monitors internal credit risk views from more than 40 global financial institutions. The index in February was at 48.7 and readings below 50 indicate deterioration in <keyword id="889508" type="PERSON" weightage="60" keywordseo="credit-quality">credit quality</keyword>.The brighter credit outlook was supported by expansion in the US <keyword id="34412" type="ORGANIZATION" weightage="60" keywordseo="economy">economy</keyword> since it slumped into recession in 2020 as the COVID-19 crisis ramped up. The Commerce Department on Thursday upwardly revised its estimate of fourth-quarter 2020 growth to 4.3% from 4.1%.For March credit readings, the "real standout this month is the US," said Credit Benchmark in a note Thursday. "There may be also be growing optimism for the UK and EU, whose CCI scores inched closer to 50, although the EU's economy isn't as strong as the US' and it has had struggles with vaccinations."Economists have said the vaccination of millions of Americans from the coronavirus crisis and fiscal <keyword id="45304" type="COMPANY" weightage="60" keywordseo="Stimulus">stimulus</keyword> packages passed in Washington - including the massive $1.9 trillion bill greenlighted in March - are key factors driving the recovery. But supply chain issues could also temper expectations in the industrial space, said Credit Benchmark. Cyclical stocks have risen this year as investors position themselves with beneficiaries of economic growth. The S&amp;P 500 Industrial Sector has gained about 8% so far this year, but lags behind the 13% rise for the financials sector.President Joe Biden is expected next week to introduce his plans to bolster infrastructure spending in the country. The proposal <a href="https://www.businessinsider.com/heres-what-could-be-in-bidens-massive-infrastructure-bill-2021-3">could be worth up to $3 trillion</a> and include focuses on roads and bridges.Among exchange-traded funds in the industrial space, the <a href="https://markets.businessinsider.com/etfs/industrial-select-sector-spdr-fund-us81369y7040">Industrial Select Sector SPDR Fund</a> and the <a href="https://markets.businessinsider.com/etfs/fidelity-msci-industrials-index-etf-us3160927097">Fidelity MSCI Industrials Index ETF </a> have each gained about 9% during 2021.

Strengthening credit quality and Biden's massive infrastructure plan is setting industrial stocks up for further big gains

<ul><li>The next ten years will be the decade technology — or ‘techade’ — according to experts. </li><li>NASSCOM president Debjani Ghosh said that it's imperative to ensure that it’s India’s decade. </li><li>Infosys COO Pravin Rao feels the world is going to change drastically over the next ten years — from self-driving cars becoming the new normal to clothes connected to the internet. </li></ul>Self driving cars on every road, clothes connected to the internet, medical chip implants and India at the center of the tech world — this how experts see the next decade playing out. The next ten years — the “techade” — will define the role technology plays in India’s economy. “We have to ensure that this is India's decade,” NASSCOM president Debjani Ghosh said <a href="https://www.businessinsider.in/business/news/it-industry-will-grow-faster-than-last-year-says-nasscom/articleshow/74102865.cms?src=hp_wh">at the event in Mumbai</a>. The power dynamic is already shifting towards Asia with countries like China and India taking the lead, according to her. And, India will finally have a chance to transform manufacturing with technology— the sector that was skipped over between the shift from agriculture to services. “India has all the potential to become a software product nation. We have already laid down the policies for that,” said India’s IT Minister, Ravi Shankar Prasad at the India Digital Summit last week.

''Techade" — what the world will look like in 2030, according to experts

New Delhi, Dec 24 () The new order inflows for construction companies will improve in 2020 with a huge pipeline of projects in the infrastructure sector, rating agency Icra said on Tuesday.
 Assigning a stable outlook for the construction sector, Icra however said delays in land acquisition, funding issues, and state government priorities pose threat to new order inflows.
 "Icra has given a stable outlook for the construction sector. With a huge pipeline of projects to be awarded in the infrastructure sector, Icra expects the new order inflows for construction companies to improve in CY (calender year) 2020," it said.
 As the government plans to more than double the investment in infrastructure sector to about Rs 100 lakh crore over the next five years, the construction companies are likely to witness significant opportunities with key segments being highways, railways, ports, urban infrastructure and airport.
 In the railways segment, besides the core railway capex (doubling, new lines, signalling, electrification, etc), the station redevelopment is expected to provide significant opportunities to the construction companies, the report said.
 Similarly, in the highways sector, adequate pipeline of projects for development/upgradation of national highways and state highways exists. The Bharatmala Pariyojana itself is expected to provide large opportunities for the construction sector as the programme is the largest road development programme in India.
 The rating agency also said delays in land acquisition, funding issues, and state government priorities remain key risks to the new order inflows.
 The order inflows from non-infrastructure segments like industrial and real estate (excluding affordable housing segment) are expected to remain muted, with weak private sector capex growth, it said.
 "The order inflow for construction sector has been robust over the last few years, supported largely by increased government spending towards infrastructure.
 "However, H1-FY2020, has witnessed lower new order inflows and cancellations of some orders in Andhra Pradesh, which has resulted in a decline in order book for some players. Nevertheless, the order-book position of most of the construction players is currently adequate to provide medium term revenue visibility," Icra said.
 On the execution front, Icra expects the healthy order-book should support growth in operating income of construction companies in the first half of 2020, though it could witness moderation if the new order inflows weaken.
 However, construction companies which have leveraged balance sheets and stalled or slow-moving projects, would continue to face challenges.
 As for financial health, operating profitability is expected to remain stable with the benefits of benign inflation and steady execution; though this would also be dependent on any steep variation in key raw-material and labour cost. However, the capex and working capital requirement could absorb most of the cash accruals. ABI ANU

New order inflows for construction sector to improve in 2020: Icra

<ul><li>Billionaire investor <keyword id="174544" type="PERSON" weightage="60" keywordseo="Bill-Gross">Bill Gross</keyword> said 2020's growth <keyword id="6354298" type="DEFINITION" weightage="60" keywordseo="Stocks">stocks</keyword> "may struggle" in 2021 and said his current favorite market sector is the natural gas pipeline group in his latest Investment Outlook letter titled "Little Bit Softer Now." </li><li>The <keyword id="142202" type="COMPANY" weightage="60" keywordseo="PIMCO">PIMCO</keyword> co-founder said that stocks like Tesla, which skyrocketed 740% in 2020, won't repeat the performance in 2021. </li><li>Gross said investors should 'take a look" at <a href="https://markets.businessinsider.com/stocks/mmp-stock">Magellan Midstream Partners</a>, <a href="https://markets.businessinsider.com/stocks/bpmp-stock">BP Midstream Partners LP</a>, and <a href="https://markets.businessinsider.com/stocks/epd-stock">Enterprise Products Partners L.P.</a></li><li><a href="https://www.businessinsider.com/?hprecirc-bullet?utm_source=markets&amp;utm_medium=ingestgest">Visit Business Insider's homepage for more stories</a>.</li></ul>Billionaire investor Bill Gross said 2020's growth stocks "may struggle" in 2021 and revealed his favorite sector pick for the new year in his latest Investment Outlook letter. According to the PIMCO co-founder, stocks that soared in 2020, like Tesla and certain SPACs, won't repeat the performance in 2021.Tesla was up over 740% in 2020, with <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-outlook-target-wall-street-analyst-goldman-jpmorgan-2020-12-1029928577">most Wall Street analysts predicting either a decline or only slight increase</a> for the EV maker's stock price in the next 12 months. Meanwhile, the top performing SPAC<a href="https://www.nasdaq.com/articles/completed-spac-mergers-2020%3A-10-top-performing-spacs-of-the-year-2020-12-21"> according to Nasdaq</a>, QuantumScape, flew over 1,115% in 2020. Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-in-2021-market-rbc-top-recommendations-2021-1" target="_blank" rel="noopener">Buy these 30 stocks that handily beat the market in 2020 and are poised for the best global returns in 2021, RBC says</a>For returns in 2021, Gross is eyeing natural gas pipeline stocks within the energy sector of the market. He said the market sector yields between 9% and 12% for investment grade stocks with certain tax advantages. Gross told inventors to "take a look" at <a href="https://markets.businessinsider.com/stocks/mmp-stock">Magellan Midstream Partners</a>, <a href="https://markets.businessinsider.com/stocks/bpmp-stock">BP Midstream Partners LP</a>, and <a href="https://markets.businessinsider.com/stocks/epd-stock">Enterprise Products Partners L.P.</a> "TSLA? In the hands of the Robinhood gods I'm afraid it's definitely overvalued,"he added. The billionaire investor also commented on what's behind the sky-high asset prices in the market."This market is driven - yes - by intense speculation, but also by fiscally pumped, central bank-primed corporate earnings, which when discounted to present value by near zero nominal and in many cases negative real interest rates, produce record stock prices," Gross said. Read more: <a href="https://www.businessinsider.com/stock-market-crash-indicators-2021-bubble-bursting-jeremy-grantham-spacs-2021-1" target="_blank" rel="noopener">Jeremy Grantham predicted the past 2 financial meltdowns. Now he says these 3 signals are foreshadowing a crash in another bubble being created by stocks and SPACs.</a>

Billionaire investor Bill Gross says the 'Teslas of 2020' may struggle in 2021 and reveals his top sector pick for the new year

Industry body <keyword id="6355001" type="ORGANIZATION" weightage="20" keywordseo="ficci">Ficci</keyword> on Sunday said its Economic Outlook Survey has projected the country's annual median GDP growth for 2020-21 at (-) 4.5 per cent. With the rapid spread of COVID-19 pandemic manifesting into an economic and healthcare crisis globally, the latest forecast marks a sharp downward revision from the growth estimate of 5.5 per cent reported in the January 2020 survey, it said. The pandemic outbreak has severely impacted the economic activities as the country had to go through a lockdown to check spread of the virus. However, the restrictions are being gradually eased. While addressing SBI Banking and Economics Conclave on Saturday, RBI Governor Shaktikanta Das said the Indian economy has started showing signs of getting back to normalcy in response to the staggered easing of restrictions. "It is, however, still uncertain when supply chains will be restored fully; how long will it take for demand conditions to normalise; and what kind of durable effects the pandemic will leave behind on our potential growth," he said. In May, the Reserve Bank had said the GDP growth during 2020-21 is likely to remain in the negative territory. Releasing details of the survey, Ficci said the present round of 'Economic Outlook Survey' was conducted in June 2020 and drew responses from leading economists representing industry, banking and financial services sector. "The latest round of Ficci's Economic Outlook Survey puts forth an annual median GDP growth forecast for 2020-21 at (-) 4.5 per cent - with a minimum and maximum growth estimate of (-) 6.4 per cent and 1.5 per cent respectively for 2020-21," it said. As per the survey, the quarterly median forecasts indicate GDP growth to contract by (-) 14.2 per cent in the first quarter of 2020-21, with a minimum estimate of (-) 25 per cent and a maximum estimate of (-) 7.4 per cent. Economic activity-wise annual forecast indicated a median growth of 2.7 per cent for agriculture and allied activities for 2020-21. "Agriculture seems to be the only sector with a silver lining right now. There is an apparent upside as far as the performance of monsoon is concerned this year and the water reservoir levels in the country stand at good levels," the industry chamber said. According to the survey, the rural sector supported by a steady agriculture performance and hopefully a contained number of COVID-19 cases will be a key demand generator for India this year. The survey further said that industry and services sector, on the other hand, are expected to contract by 11.4 per cent and 2.8 per cent, respectively in 2020-21. Weak demand and subdued capacity utilisation rates were already manifesting into a drag on investments and the COVID-19 pandemic has further extended the timeline for recovery, it said. Even though activity in sectors like consumer durables, FMCG is gaining traction, majority of the companies are still operating at low capacity utilisation rates. Labour availability and feeble demand remain as major issues for the companies, it added. "Therefore, fresh investments will be difficult to come by in the near to medium term. Also, a significant change in consumption patterns is expected on back of uncertainty with regard to jobs and income losses," Ficci said. It noted that absence of demand stimulus, a second wave of the pandemic and continuation of social distancing and quarantine measures will weigh heavy on growth prospects. "With demand and investment outlook muted, robust government expenditure has been the only saviour. Nonetheless, growth is likely to bottom out post the second quarter of current fiscal year," it said. According to the survery, some of the stimulus measures are reaching to the ground – especially through the credit guarantee scheme for MSMEs and support through MGNREGA – which is positive. During the survey, economists were asked to share their views on the fiscal stimulus package 2.0 and any additional measures that can be undertaken. Participants were of the view that government measures in stimulus focussed broadly on saving lives and undertaking deep structural reforms. "They, therefore, felt that while the quasi fiscal measures and structural reforms announced were undoubtedly steps in the right direction, on ground implementation and results will take a long time to work through in the present environment," it added. A majority of economists believed that the government could have undertaken "a more aggressive" fiscal stance than what has been announced in the two packages combined. Participating economists also highlighted that the measures announced by both the Reserve Bank of India and government focussed largely on addressing supply side constraints with limited support for creation of demand. Ficci said the surely participants unanimously believed that the RBI would undertake further cuts in the repo rate going forward to minimise the economic shock and stabilise financial markets. Nonetheless, a majority of the participants also opined that cutting interest rates would not pump economic growth given that the demand conditions have remained subdued from even before the COVID pandemic struck the economy. The fast-changing macroeconomic environment and deteriorating outlook for growth necessitated off-cycle meetings of the Monetary Policy Committee (MPC) of the RBI – first in March and then again in May 2020. The MPC decided to cumulatively cut the policy repo rate by 115 basis points over these two meetings, resulting in a total policy rate reduction of 250 basis points since February 2019. Ficci said economists were asked to suggest ways with which India could best utilise the present opportunity to expand its presence in the global value chains. Efforts towards liberalisation of FDI policy must be complemented with improving infrastructure and ease of doing business in the country, it added. RSN NKD BAL

GDP growth in 2020-21 likely to be negative, says FICCI survey

<ul><li>The <keyword id="6374576" type="General" weightage="20" keywordseo="it-industry" source="Orion">IT industry</keyword> (47%) consistently maintains the most positive outlook among businesses, indicating a strong hiring sentiment. </li><li><keyword id="22943" type="General" weightage="20" keywordseo="employers" source="Orion">Employers</keyword> in all four regions are optimistic about expanding their payrolls in the third quarter of 2023. </li><li>As many as 84% of employers said they are recruiting for green jobs or roles requiring green skills. </li></ul>Despite reports of layoffs, and a projected global economic slowdown, the job market is showing positive indicators in the third quarter of 2023 (July to September). In a ManpowerGroup survey of employers, almost half of them (49%) expect to increase their workforce, while 13% anticipate a decrease in hiring in the upcoming quarter. Around 34% do not foresee any changes in their staffing levels. Although there has been a decline of 15% in hiring sentiments compared to the same period last year, there is a notable growth of 6% as compared to the previous quarter. In the region, India ranks second in markets that intend to hire after Australia, and fifth globally. Interestingly, 84% of employers said they are recruiting for green jobs or roles requiring green skills. <cmsannotation type="cmsannotation" annotationid="subhead" text="Hiring by industries">Hiring by industries</cmsannotation> In the upcoming quarter, an increase in employment is projected across all eleven industry sectors. The IT, and <keyword id="535418" type="General" weightage="20" keywordseo="technology-sector" source="Orion">Technology sector</keyword> stands out with the highest hiring intentions, as employers in this sector report a net employment positive outlook of 47%. The finance, insurance, and real estate sector follow closely with a positive outlook of 41%, and the healthcare, and life sciences sector also shows strong hiring intentions with a 40% positive outlook. These industries demonstrate promising hiring prospects, and are expected to experience growth in their workforce. Says Sandeep Gulati, managing director, ManpowerGroup India, and Middle East, “India is one of the significant IT talent hubs for tech companies across the globe. Coupled with that, is the government’s continuous reinforcement in the semiconductor industry, both of which is fortifying the <keyword id="46964" type="General" weightage="20" keywordseo="it-sector" source="Orion">IT sector</keyword> as the dominant player for growth in the Indian job market.” <cmsannotation type="cmsannotation" annotationid="subhead" text="Hiring by region">Hiring by region</cmsannotation> Employers in all four regions are optimistic about expanding their payrolls in the third quarter of 2023. The West shows the most promising hiring pace, with a positive net employment outlook of 42%. Following closely, the North, and South regions have positive outlooks of 39%, and 33% respectively. The East also forecasts dynamic hiring activity with an outlook of 29%. However, it is worth noting that hiring prospects have weakened compared to the same period last year.

You Searched For "it sector outlook 2020" and got 11 results

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India's manufacturing sector activity rises in Dec; cos cautious on 2020 outlook

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Manufacturing firms' profit outlook in Oct-Dec remains negative

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Indian banks need USD 7 bn additional capital :Fitch

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India Ratings revises outlook for construction sector to negative

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Carla Mozée

''Techade" — what the world will look like in 2030, according to experts

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New order inflows for construction sector to improve in 2020: Icra

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Billionaire investor Bill Gross says the 'Teslas of 2020' may struggle in 2021 and reveals his top sector pick for the new year

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GDP growth in 2020-21 likely to be negative, says FICCI survey

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Hiring outlook to improve in the next quarter says ManpowerGroup

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