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<ul><li><keyword id="19894961" type="General" weightage="20" keywordseo="Apple" source="keywords" meta.keywordsubtype="org" meta.entityname="Apple" meta.hostid="261" meta.entityid="Apple">Apple</keyword> is set to open four new retail stores in India by next year.</li><li>The company is looking to recruit around 400 employees in India for these stores.</li><li>Here’s everything you need to know about the job opening at Apple.</li></ul> Cupertino tech giant Apple is expanding its retail presence in India amid a rise in sales of the iPhone. The company recently announced the launch of four new retail stores in Bengaluru, Delhi-NCR, Mumbai and Pune. Ahead of the launch of these stores, the company is now looking to hire 400 employees in the country. The company has revealed that it is looking to recruit around 400 people for these stores. The company has listed several new <keyword id="20076347" type="General" weightage="20" keywordseo="job-openings" source="keywords">job openings</keyword> on its website ahead of next year’s store launch. Apple currently employs around 100 employees at its stores in Delhi’s Select City Walk and Mumbai’s BKC. <h2>400 job openings at Apple</h2>The 400 job openings announced by Apple include both full-time and part-time roles. The roles announced include Business Pro, Operations Expert, Technical Specialist and more. “As a Business Pro, you help customers discover how Apple products can transform the way they work — and you build loyalty by maintaining those customer relationships. In this role, you serve as both a resource and a mentor to your fellow <keyword id="11919569" type="General" weightage="20" keywordseo="Apple-store" source="Orion">Apple Store</keyword> team members. You also partner with store leadership to find opportunities to connect customers with powerful tools and solutions that help their business thrive,” reads the Business Pro job description on the company’s website. The jobs are aimed at recent graduates looking to earn money and experience by working flexible shifts at the Apple Store. In addition to hiring through its website, the company has also started recruiting people through job platforms such as LinkedIn. "It's amazing to see Apple expand across this incredible country in Delhi, Mumbai, Pune and Bengaluru. We are looking to talk to people across many roles,” an Apple recruiter said on LinkedIn. To apply, you can visit the<a href="https://jobs.apple.com/en-in/search"> company’s website</a>, which currently has over 600 job openings or contact the recruiters on LinkedIn. <h2>Apple’s push in India</h2>India is now emerging as a key market for India as the customers in the world’s second-biggest smartphone market are on the premiumisation bandwagon. There has been a steady increase in the sale of iPhones in the country. Apple recorded a 33% growth in India in the previous fiscal year, recording sales of over INR 65,000 crore. As per IDC, Apple is expected to sell 12 to 12.5 million iPhones in 2024, a 25% year-on-year growth. <div type="Article" hostid="261" msid="112653019" title="The iPhone Pro models will be made in India for the first time this year" mstype="2" mssubtype="0"></div> Apple has also made a manufacturing push in India, with the entire iPhone 16 lineup being<a href="https://www.businessinsider.in/tech/mobile/news/the-iphone-pro-models-will-be-made-in-india-for-the-first-time-this-year/articleshow/112653019.cms"> produced</a> in the country, a first for the company. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/nvidia-and-reliance-industries-to-build-ai-computing-infrastructure-in-india/articleshow/114551439.cms">NVIDIA and Reliance Industries to build AI computing infrastructure in India</a> <a href="https://www.businessinsider.in/stock-market/news/waaree-energies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114508632.cms">Waaree Energies IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/snapdragon-8-elite-announced-to-power-iqoo-13-oneplus-13-xiaomi-15-series-and-more/articleshow/114463844.cms">Snapdragon 8 Elite announced, to power iQOO 13, OnePlus 13, Xiaomi 15 series and more</a>

Apple is hiring 400 employees in India – roles, how to apply and all you need to know

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

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

Dear reader, This week’s news roundup captures a mix of finance, technology, and career insights, spotlighting trends and timely advice. The <keyword id="19895040" type="General" weightage="20" keywordseo="Real-Estate" source="keywords">real estate</keyword> sector in India continues to reign supreme in investment portfolios, even as new financial opportunities emerge. Meanwhile, <keyword id="20019820" type="General" weightage="20" keywordseo="Job-Seekers" source="keywords">job seekers</keyword> are dealing with “ghosting,” a new twist in recruitment echoing modern dating. In tech, a damaged satellite shows how fragile internet infrastructure can disrupt connectivity, while an <keyword id="23685266" type="General" weightage="20" keywordseo="Amazon-Engineer" source="keywords">Amazon engineer</keyword> offers a firsthand roadmap to nailing technical interviews. Read on to know about the top stories of the week gone by. <h2>Real Estate continues to dominate India’s investment portfolios, shows <keyword id="23616651" type="General" weightage="20" keywordseo="FICCI-Report" source="keywords">FICCI report</keyword></h2> According to a FICCI report, real estate remains a favourite in Indian investment portfolios. High returns, capital appreciation, and stability make it a popular choice, even amid increased diversification. <a href="https://www.businessinsider.in/finance/news/real-estate-continues-to-dominate-indias-investment-portfolios-shows-ficci-report/articleshow/114368582.cms" data-type="tilCustomLink" target="_blank">Read more</a> <h2>Did you experience wonky broadband service recently? A broken satellite in space might have something to do with it! </h2> Broadband disruptions across various areas may stem from a broken satellite, highlighting vulnerabilities in space-based infrastructure. This issue underscores how satellite failures impact daily internet access. <a href="https://www.businessinsider.in/science/space/article/did-you-experience-wonky-broadband-service-recently-a-broken-satellite-in-space-might-have-something-to-do-with-it/articleshow/114535180.cms" data-type="tilCustomLink" target="_blank">Read more</a> <h2>Bhavish Aggarwal's <keyword id="19897349" type="General" weightage="100" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="261" meta.entityid="Ola Electric">OLA Electric</keyword> says it has resolved 99% customer complaints after receiving CCPA show cause notice </h2> Two-wheeler manufacturer Ola Electric announced that it has successfully addressed 99.1% of the 10,644 complaints raised by the Central Consumer Protection Authority (CCPA). This update came on the heels of a recent notice from the CCPA, which had accused the company of misleading advertisements, unfair trade practices, and potential consumer rights violations. <a href="https://www.businessinsider.in/business/news/bhavish-aggarwals-ola-electric-says-it-has-resolved-99-customer-complaints-after-receiving-ccpa-show-cause-notice/articleshow/114489333.cms" data-type="tilCustomLink" target="_blank">Read more</a> <h2>Job Hunting in 2024 has a modern dating element: Ghosting </h2> Job seekers in 2024 face an unexpected trend — “ghosting,” a phenomenon borrowed from dating. Recruiters and candidates alike are leaving communication abruptly, signalling changing norms in the hiring process. <a href="https://www.businessinsider.in/careers/news/job-hunting-in-2024-has-a-modern-dating-element-ghosting/articleshow/114454697.cms" data-type="tilCustomLink" target="_blank">Read more</a> <h2>I'm a software engineer at Amazon. Here's my step-by-step guide to nailing the <keyword id="23685264" type="General" weightage="20" keywordseo="Technical-Interview" source="keywords">technical interview</keyword> and breaking into tech </h2>An Amazon software engineer has shared tips for acing technical interviews. The guide includes key interview stages and actionable strategies for breaking into tech, providing valuable insights for job seekers. <a href="https://www.businessinsider.in/tech/news/im-a-software-engineer-at-amazon-heres-my-step-by-step-guide-to-nailing-the-technical-interview-and-breaking-into-tech-/articleshow/114430281.cms" data-type="tilCustomLink" target="_blank">Read more</a> <h2>Web stories</h2> <h2><a href="https://www.businessinsider.in/travel/international/webstories/most-famous-tourist-spots-in-brics-nations/slidelist/114543399.cms" data-type="tilCustomLink" target="_blank"></a></h2><a href="https://www.businessinsider.in/travel/international/webstories/most-famous-tourist-spots-in-brics-nations/slidelist/114543399.cms" data-type="tilCustomLink" target="_blank">Most famous tourist spots in BRICS nations</a> <a href="https://www.businessinsider.in/india/webstories/cyclones-that-shook-india-a-history-of-devastation/slidelist/114514841.cms" data-type="tilCustomLink" target="_blank">Cyclones that shook India</a> <a href="https://www.businessinsider.in/science/health/food/webstories/9-refreshing-drinks-that-reduce-high-blood-pressure-levels/slidelist/114426482.cms" data-type="tilCustomLink">9 refreshing drinks that reduce high blood pressure</a>

Weekend wrap: Real estate dominates India's investment portfolios, interview tips from Amazon employee and more

<ul class="summary-list"><li>Some expat Indians are moving back home to launch companies of their own.</li><li>India's booming market size, internet growth, and post-pandemic spending is driving their decision.</li></ul>Nithin Hassan, 41, has always been fascinated with building something of his own.As a child in India, he would get in trouble for dismantling electronics around the house just so he could peek inside.In college, in true <a target="_blank" class="" href="https://www.businessinsider.com/startups-to-bet-your-career-on-in-2024-2024-2">startup</a> fashion, he started working on a small business out of his parent's garage in Bengaluru, assembling computers for friends and family.It was the early 2000s and the internet was not the trove of knowledge it is today — Hassan was relying on books to learn. Finding mentorship and the right guidance was a challenge, too.Everyone around Hassan told him that going to the <a target="_blank" class="" href="https://www.businessinsider.com/resume-tips-google-software-engineer-skills-experience-careers-software-tech-2024-3">US for a master's degree</a> was the next big opportunity. So he did.Over the next 16 years, he put his startup plans on hold and worked at some of the world's biggest companies, including Amazon, Microsoft, and Meta.<div type="image" title="Nithin Hassan" height="2450" width="3266" msid="113831978" hostid="261" sizebytes="215682"></div>But the pandemic felt like a turning point. And its aftermath made India look like a lab-designed business environment: It had just become the world's most populous country, the pandemic had created <a target="_blank" class="" href="https://economictimes.indiatimes.com/news/economy/indicators/private-consumption-continues-to-be-supported-by-pent-up-demand-finance-ministry/articleshow/99069973.cms?from=mdr">pent-up demand</a> for consumer products, and growing internet adoption made commerce more scalable, he said.So Hassan left behind about $500,000 in annual pay at Meta to move back to Bengaluru in December 2023 with his wife and two children. He has since launched two startups.Hassan is part of a group of <a target="_blank" class="" href="https://www.businessinsider.com/i-moved-back-to-india-after-living-abroad-for-decade-2024-9">expat Indians moving back</a> home to venture out on their own. As such, he's also part of a decades-long trend of reverse migration back to India.The trend began in the 1990s and picked up at the turn of the century, driven by the economic collapse in 2008, said Binod Khadria, the president of Global Research Forum on Diaspora and Transnationalism. Many of those who returned to India for work were largely working for multinational companies.Today, the impetus for the move often looks a bit different: It's driven by factors like unstable visa policies and economic recessions, which lead to uncertainty when it comes to jobs and duration of stay in these destinations.Many returnees find work in tech, but the finance, retail, and climate sectors also absorb a large number of expat Indians, Khadia said. And some of the returnees are heading back to India to start companies of their own.India is undergoing a startup explosion. The country reported over<a target="_blank" href="https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2043805"> 140,800 recognized startups</a> at the end of June — nearly 50,000 more than last year — and credited them with creating 1.6 million direct jobs.To be sure, not all of these companies will make it big — and some do still stumble, like <a target="_blank" class="" href="https://inc42.com/features/what-are-the-current-problems-being-faced-by-oyo/">Oyo </a>and <a target="_blank" class="" href="https://www.businessinsider.com/blackrock-hsbc-funds-byjus-startup-valuation-zero-edtech-india-raveendran-2024-6">Byju's</a>. But the chaos, where even established startups are trying and failing, makes India a fair playing field for new entrants, Hassan said.Business Insider spoke to six <a target="_blank" class="" href="https://www.businessinsider.com/india-vc-wants-see-5-traits-new-founders-fundraising-antler-2024-8">first-time founders </a>about why they have recently returned to India after spending several years, or even an adult life, abroad.<h2 id="0e4a3c47-ba19-4690-8b52-c6bfece1c81d">Fastest-growing economy</h2>The health of the economy and interest from investors are fueling the entrepreneurship boom.<a target="_blank" class="" href="https://www.businessinsider.com/india-billionaire-karan-adani-plans-challenge-china-dominance-seaports-2024-8">India's economic growth</a> in 2023 — 8.2% — was the fastest of all large economies worldwide. That's led to greater purchasing power, which lets companies, including startups, sell more.India's inflation rate of about 3.5% is well below its annual wage growth of 9.6%. This makes inflation less of a challenge than it is for slower-growing peers, where consumer-focused businesses have been <a target="_blank" class="" href="https://www.businessinsider.com/economy-jobs-report-sentiment-consumers-elections-recession-inflation-mortgage-rates-2024-9">hurt by high prices</a>.Investors are getting in on the action.From 2015 to 2021, the number of <a target="_blank" class="" href="https://www.businessinsider.com/sequoia-capital-vc-firm-split-china-india-2023-6">unique investors in India</a> nearly quadrupled, though the number is tracking much lower this year, per PitchBook."Other than a slight downturn in 2022 and 2023 due to global macroeconomic factors, VC funding has been consistently growing in India," said Ben Mathias, a managing partner at Vertex Ventures Southeast Asia &amp; India.Besides funding, domestic developments have encouraged founders and VCs too, Mathias said.The Indian government's Universal Payment Interface system has spurred consumers and businesses to pay online, and <a target="_blank" class="" href="https://www.bcg.com/press/2june2022-digital-payments-in-india-projected-to-reach-10-trillion-by-2026">40% of all digital payments</a> globally happen in India today, the partner said.Programs like Startup India, which provides founders benefits like tax exemption, easier compliance, and funding support, have made creating a company smoother.Devyani Parameshwar worked in the microfinance and fintech space in India in the 2010s before heading to the UK and Africa. She returned to India in 2022 to launch a financial management venture."It's changed dramatically. I remember standing in line at various ministries in Delhi trying to get meetings and then trying to get answers and it wasn't easy in the past," she said of her memories of India.Now, she can use an online platform to ask the country's central bank and banking regulator questions.It's easier than ever for foreign companies to invest in India, which means startups have a clearer exit path through acquisition — something VCs think hard about before entering new markets or writing checks.<h2 id="e5dd7b6f-a09f-4ff2-84c1-5907de96dc5e">Market ripe for the taking</h2>For Rohan Bhide, who spent most of his college and professional life <a target="_blank" class="" href="https://www.businessinsider.com/worked-in-big-tech-before-launching-my-own-startup-engineer-2024-9">preparing to launch something of his own</a>, a trip home in 2017 while he was studying in the US was a turning point.Indian telecom giant Reliance had recently launched a cheap unlimited data plan, which spiked Indian internet adoption. India was charting among the countries with the highest online transactions."That really, really drew my attention," said Bhide, who worked at Meta after graduation. "It was my dream come true — a huge market, a huge user base, and at the same time, the ability to adopt technology was incredible."Bhide returned to India in January, leaving behind about $580,000 in total compensation at ticketing platform StubHub. He and a cofounder are working on launching a consumer tech product later this year.<div type="image" title="Rohan Bhide" height="2304" width="3072" msid="113831979" hostid="261" sizebytes="218468"></div>Most Indians grew up wanting to work at a multinational company — but that's changing, Bhide said.Freelancing, running your own business, or working for a startup is much more socially acceptable now, because people see the success of other Indian startups. The country has the third-largest number of "unicorns" — companies worth $1 billion or more — with 64, per PitchBook.<h2 id="7f423804-745b-4e04-a250-839e01663f09">Boom in entrepreneurship culture</h2>A lot has changed since Hassan first wanted to launch his hardware startup in the early 2000s.Tech hot spots like Bengaluru and Gurugram have seen a boom in entrepreneurship culture in the last few years, with meet-ups, networking mixers, and even morning walks with like-minded builders.<div type="image" title="man standing in front of mountains in USA" height="2268" width="3024" msid="113831980" hostid="261" sizebytes="141132"></div>Dhruv Anand, who left Google in the US to move back to India in 2021 to launch an <a target="_blank" class="" href="https://www.businessinsider.com/ai-startups-most-promising-2024-9">AI startup</a>, said that there were lots of other founders and mentors to help guide him."If you want to figure out who's the right chartered accountant to talk to, who's the right lawyer to help you draft agreements, all of that stuff is very easy," Anand said."It's been a really, really supportive community," Bhide said. There are people "telling you about their entire lives just because they want to help you and they're hoping that you pass the favor onto the next person who moves to India and wants to start their own company."<h2 id="3c8bff36-e855-4530-9b44-bcc7f36b0825">Not everything is perfect</h2>Although these founders made the decision to return to India, that doesn't mean they no longer see the benefits of operating in the US.Ruchit Garg founded an agriculture startup in Silicon Valley in 2016, with a focus on supporting farmers around the globe. In 2019, he returned to India, where his late grandfather worked as a farmer.Garg has been building in India ever since, but he says its startup ecosystem cannot yet compete with the Valley's decades of experience."The overall ecosystem was more mature back in Silicon Valley. It's still one of the best places for entrepreneurs. India isn't there yet, although it's growing pretty drastically," he said.Despite efforts to digitalize key processes, many bureaucratic challenges persist.For most founders, after living in US cities where populations are a fraction of those in Mumbai and Bangalore, congested roads and poorer air quality are also everyday annoyances.But India provides some big perks, including affordable domestic help and the appeal of building solutions for problems they witness firsthand."It's a different joy to be able to build for problems that you feel for very personally," Parameshwar, the fintech founder, said. When she worked in Africa, she needed translators. Now, she can speak with her users herself.Bhide said the general sentiment among local founders is shifting from "Build from India" to "Build for India."For some founders, being surrounded by family and the culture they grew up in was another selling point.Niranjan Vemulkar moved back to India in 2015 and later founded a digital legacy planning platform.He said that he never fully felt at home in the US, where he lived for over a decade."For us, it was the fact that we wanted to raise a family in an environment where the children would have access to the grandparents and Indian culture," Vemulkar said. "The fact that you could come back to India, start something of your own and figure things out in an ecosystem which was potentially booming for startups, was just a cherry on the cake."Are you in India and have a story to share about the tech and entrepreneurship landscape? Please reach out at shubhangigoel@insider.com

Some techies are leaving cushy Silicon Valley jobs to launch startups at home in India

India’s diamond industry is grappling with a severe downturn as both imports and exports have significantly declined over the past three years, triggering defaults, <keyword id="23043782" type="General" weightage="20" keywordseo="factory-closures" source="keywords">factory closures</keyword>, and widespread <keyword id="20013745" type="General" weightage="20" keywordseo="job-losses" source="keywords">job losses</keyword>, according to a report by the Global Trade Research Initiative (<keyword id="19962754" type="General" weightage="20" keywordseo="GTRI" source="keywords" meta.keywordsubtype="org" meta.entityname="GTRI" meta.hostid="261" meta.entityid="GTRI">GTRI</keyword>). The think tank highlighted that the sector is struggling with unsold <keyword id="20237406" type="General" weightage="20" keywordseo="rough-diamonds" source="keywords">rough diamonds</keyword> and increasing competition from lab-grown alternatives. Ajay Srivastava, Founder of GTRI, pointed out that the downturn in India’s diamond industry has had devastating effects. "This has led to defaults, factory closures, and widespread job losses. Tragically, more than 60 individuals from Gujarat’s diamond sector have taken their own lives, highlighting the intense financial and emotional stress," Srivastava said. He emphasised the urgent need for intervention to address these issues and ensure the survival of the sector. <h2>Declining imports and exports</h2>Data from GTRI paints a grim picture of the industry. Imports of rough diamonds have dropped by 24.5%, from USD 18.5 billion in 2021-22 to USD 14 billion in 2023-24, reflecting weakened global demand and fewer orders for diamond processing. After accounting for re-exported rough diamonds, net imports saw a 25.3% decrease, signalling reduced interest in processing diamonds in India. The situation is even worse on the export front. Exports of cut and polished diamonds fell by 34.6%, from USD 24.4 billion in FY 2022 to USD 13.1 billion in FY 2024. Net exports experienced an even sharper decline, dropping by 45.3% from USD 15.9 billion to USD 8.7 billion, indicating a weak global market and rising inventories of unsold diamonds. <h2>Rising inventories and market competition</h2>The report also highlighted that the percentage of unsold diamonds returned to India increased from 35% to 45.6% during this period. Additionally, the gap between net rough diamond imports and net exports of cut and polished diamonds widened from USD 1.6 billion in FY 2022 to USD 4.4 billion in FY 2024, signifying a growing stockpile of unsold inventory and insufficient export demand. Several factors contribute to this crisis. Global economic uncertainty, inflation, and geopolitical tensions — particularly in key markets like the US, China, and Europe — have led to decreased spending on luxury items such as diamonds. Fluctuating global diamond prices have added to this uncertainty, causing buyers to hesitate in purchasing rough diamonds. <div type="Article" hostid="261" msid="113445065" title="&amp;#39;The pressure became too much for her&amp;#39;: Mother blames &amp;#39;work stress&amp;#39; for 26-year-old EY employee&amp;#39;s death" mstype="2" mssubtype="0"></div>Moreover, the Russia-Ukraine conflict has disrupted the global diamond supply chain, with sanctions on Russia, a major producer of rough diamonds, further complicating trade. This slowdown has impacted the global market, stalling the flow of diamonds and affecting India’s processing sector. Another challenge facing the industry is the shift in consumer preferences toward <keyword id="20662742" type="General" weightage="20" keywordseo="lab-grown-diamonds" source="keywords">lab-grown diamonds</keyword>, which are seen as more affordable, ethical, and sustainable. This shift is particularly evident in markets where customers are becoming more conscious of the environmental and ethical implications of their purchases. <h2>Internal regulatory and operational hurdles</h2>Internally, the Indian diamond sector is facing a host of challenges. Many polishing units are burdened with unsold inventories of polished diamonds, discouraging them from importing new rough diamonds. Rising operational costs, including labour, energy, and materials, have also made it difficult for many polishing units to remain profitable. These factors have led to the closure of many shops and significant layoffs, particularly in Surat, the world’s largest hub for diamond cutting and polishing. The sector's heavy reliance on financing has also become a problem. Tighter credit conditions and reduced lending from banks have made it increasingly difficult for businesses to purchase rough diamonds, further stalling production. Additionally, a significant number of cut and polished diamonds exported from India are being returned due to quality issues, overstocking, and price fluctuations, creating costly delays and adding to the strain on exporters. <h2>Dubai's rising influence</h2>An interesting development highlighted by GTRI is the increasing share of rough diamond imports from Dubai, which does not produce diamonds itself. Instead, Dubai imports diamonds from countries like Botswana, Angola, South Africa, and Russia and re-exports them to India. Dubai’s share in India’s rough diamond imports surged from 36.3% in FY 2020 to 60.8% in FY 2024, further rising to 64.5% in April-June 2024. In contrast, Belgium’s share of these imports fell from 37.9% in FY 2020 to 17.6% in FY 2024. One major reason for Dubai's increasing role is India’s high corporate tax regime, which pushes foreign suppliers of rough diamonds to re-export their diamonds to Dubai before sending them to India. This has rendered India’s Special Notified Zones (SNZs) in Mumbai and Surat largely ineffective. <h2>Revitalising the sector</h2>To help revitalise the struggling sector, GTRI has proposed several measures. These include extending export credit terms, exempting foreign rough diamond sellers from corporate taxes in India, regulating the lab-grown diamond industry, and reconsidering the zero-tariff import of cut and polished diamonds from Dubai under the India-UAE trade agreement. The think tank also suggested that the Reserve Bank of India (RBI) extend the export credit period for cut and polished diamond exporters from six months to 12 months, as buyers are increasingly demanding longer credit terms. India’s strong foreign exchange reserves make this feasible. <div type="Article" hostid="261" msid="113449316" title="Small businesses generated 35 million job applications till Aug 2024, 14 million were from women: Report" mstype="2" mssubtype="0"></div>The Indian diamond industry, which consists of over 7,000 companies — many of them small or medium enterprises — provides direct employment to about 1.3 million workers, with Surat alone employing nearly 8,00,000 people. The industry is also crucial for millions of indirect jobs in sectors like logistics, transport, and retail. With the sector being such a vital part of India’s economy, immediate and coordinated efforts are needed to address its current challenges and ensure its long-term viability. (With inputs from PTI)

India's diamond sector faces major crisis amid plummeting imports, exports, and massive job losses

<keyword id="22865833" type="General" weightage="20" keywordseo="online-vendors" source="keywords">Online vendors</keyword> have generated 15.8 million <keyword id="19914922" type="General" weightage="20" keywordseo="jobs" source="keywords">jobs</keyword> in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>, including 3.5 million for women, with about 1.76 million retail enterprises participating in <keyword id="19990771" type="General" weightage="20" keywordseo="e-commerce" source="keywords">e-commerce</keyword> activity, says a report released on Wednesday. The report 'Assessing the Net Impact of e-Commerce on <keyword id="19898684" type="General" weightage="20" keywordseo="employment" source="keywords">Employment</keyword> and Consumer Welfare in India' was launched by Commerce and Industry Minister Piyush Goyal. "Plugging in data from our survey, we estimate that online vendors generate 15.8 million jobs, including 3.5 million jobs for women," the report prepared by Pahle India Foundation (PIF), a Delhi-based policy research institute, said. E-commerce, according to the report, has been a key driver of employment generation In India. On an average, online vendors employ 54 per cent more people and almost twice the number of female employees, compared to offline vendors. The report noted that two of the most widely-recognised contributions of e-commerce penetration in the retail sector are --growth in employment and improvements in consumer welfare. It said rather than displacing physical markets, e-commerce is expanding into new territories like tier 3 cities. "Our data shows that a higher percentage of Tier 3 city consumers spend more than Rs 5,000 per month on online shopping as compared to consumers from bigger cities," it said, adding this is the India consumption story, which enables the co-existence of physical and digital retail. The study analysed the impact e-commerce has had on employment and consumer welfare through a pan-India survey of 2,062 online vendors, 2,031 offline vendors, and 8,209 consumers of products from e-commerce websites across 35 cities in 20 states and UTs. According to the report, each e-commerce vendor on an average employs about 9 people, of which 2 are female, while each offline vendor employs about 6 people, of which only 1 is female. It pointed out that there was increase in employment across skill levels, including high-skilled (management, marketing), medium-skilled (customer service, operations), and low-skilled (warehousing, logistics, delivery) functions. The report said that the growth of e-commerce and accompanying digitalisation have fundamentally changed the skill sets and roles required in the industry. "Vendors have experienced improved business performance parameters since listing online, including higher sales and profits," it said. According to the report, 60 per cent and 52 per cent of vendors, respectively, state that their sales and profits have increased since the time they have started selling online. "Overall, more than two thirds of the online vendors interviewed experienced an increase in online sales value and profits in the past year," the report said, adding that 58 per cent saw an increase in both. Barring costs, it said vendors have seen a positive shift in all other aspects of business performance since they started selling online. The report said there is a strong business case for offline vendors to list on e-commerce platforms or pursue an omni-channel strategy. "E-commerce integration has accrued significant benefits to vendors from smaller cities and micro-enterprises," it said. The study also delves into how e-commerce has reshaped consumer behaviour, noting that consumers have shifted to online shopping for reasons that include convenience, product variety, and access. "A highly engaged consumer base is indicated by the fact that more than 50 per cent of all respondents to the survey spent more than two hours on e-commerce platforms a week, and that 70 per cent made a purchase via e-commerce in the last month alone," it said. Speaking at the event, former NITI Aayog Vice Chairman Rajiv Kumar said, e-commerce has revolutionized India's retail landscape. Ministry of Statistics and Programme Implementation(MoSPI) secretary Saurabh Garg lauded the government's initiatives expanding digital public infrastructure that have enabled the smooth expansion of e-commerce. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-gained-over-3-million-subscribers-in-june-vi-lost-nearly-a-million/articleshow/112670406.cms">Reliance Jio and Airtel gained over 3 million subscribers in June, Vi lost nearly a million</a> <a href="https://www.businessinsider.in/tech/mobile/news/the-iphone-pro-models-will-be-made-in-india-for-the-first-time-this-year/articleshow/112653019.cms">The iPhone Pro models will be made in India for the first time this year</a> <a href="https://www.businessinsider.in/stock-market/webstories/orient-technologies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112646237.cms">Orient Technologies IPO – Price band to risk factors, all you need to know</a>

Online vendors generated 15.8 million jobs in India: e-commerce report

New Delhi: <keyword id="21530712" type="General" weightage="100" keywordseo="Ola-Founder-Bhavish-Aggarwal" source="keywords">Ola Founder Bhavish Aggarwal</keyword> is placing bold bets on new-age technologies with a view for <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> to be at the forefront of the current global <keyword id="22912054" type="General" weightage="20" keywordseo="tech-transition" source="keywords">tech transition</keyword> led by AI, and build <keyword id="22912488" type="General" weightage="20" keywordseo="jobs-of-the-future" source="keywords">jobs of the future</keyword> in the country. In an interaction with PTI editors at the agency's headquarters here, he said the private sector has to do the bulk of job creation, step up and do more, while creating an enabling environment and correcting imbalances, such as that of trade, are the responsibility of the government. Aggarwal also supported the government's move to offer fiscal incentives to global EV makers, including Tesla, through the new EV policy saying it is important for India to attract all kinds of investment, and globally established players will help in the development of the EV ecosystem in the country. The group's newly-listed entity <keyword id="19945904" type="General" weightage="20" keywordseo="Ola" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola" meta.hostid="83" meta.entityid="Ola">Ola</keyword> Electric aims to make India a global electric vehicle (EV) hub but the country has to invent an EV and energy transition paradigm for itself based on its needs as the world cannot achieve a sustainable future without India, he added. "There is a global technology transition happening and AI is a very important technology of the future, and we in India need to lead this journey. If you look at the current state, I think we are still adopters of somebody else's technology paradigms, especially in the digital world," Aggarwal said, explaining why the Ola group had set up AI start-up Krutrim last year. One of the things in Krutrim is to build AI models on Indian data, which is more attuned to Indian use cases, Indian paradigms, he said, adding, "We are making our own AI, on our own cloud, on our own chip." Despite India producing 20 per cent of the world's digital data at present, he lamented that the country does not fully own the data, as 80 per cent are stored outside, which are then processed into AI and "brought back into India and sold to us in dollars". When asked about concerns over AI leading to job losses, he allayed the apprehension saying that the IT boom created jobs in India when people feared that computers would take away jobs, and AI is a similar tool. "AI is not going to replace anyone. Maybe that future is a few decades away... We don't need to get anxious about that future right now. We need to, as a country, see that AI is going to amplify productivity. If we don't get onto the bandwagon, we will be left behind...," he asserted. In his view, Aggarwal said the way forward is for India to become experts in future technology. "Future technologies bring with it jobs of the future, supply chain of the future. And if we are global leaders, we are the fastest adoptive market of future technologies (then) jobs of the future will be built in India, supply chains of the future will be built in India. This is the only way... If we focus on protecting the past, you remain uncompetitive," he added. Sharing his take on employment generation in India, Aggarwal said, "I actually believe the private sector has to do the bulk of the job creation. The government's job is to create the enabling environment, create the fundamentals, help correct imbalances wherever they are, be it trade imbalances, etc and incentivise wherever it needs to be incentivised, like the PLI schemes." The government's steps such as the employment-linked incentives will also encourage private industry, he said, adding "But fundamentally the private sector has to step up and do more". Asked if the government is doing enough to create that ecosystem for the private sector, Aggarwal said, "I'm not in the government, so I want to put the limelight on ourselves. Is the private sector doing enough? I think we all can do more, and I'm on the same page. We all need to do more." In response to a query on his views over the government in extending the fiscal concession that companies like Tesla have been demanding from India, he said, "It is very important for India to attract all kinds of investment, especially (from) world leading companies. "Tesla is a best in class company. The more companies like these invest into India, the better it is for India, in a broad sense as well for the industry." He further said, "The (EV) ecosystem, including my company, will benefit from it, because it will raise the bar on expertise, on excellence, on talent, everything..." About the newly-listed entity Ola Electric, he said, "Our mission at Ola electric is to really make India a global EV hub." The company will build products such as electric two and three-wheelers that Indians need for the country to be able to invent an EV and energy transition paradigm for itself, different from the current global solution for sustainability that is focussed on electric luxury cars, Aggarwal added. On Ola Consumer, he said the ride-hailing mobility vertical is fairly profitable, while it is investing into the new e-commerce for which it has partnered with ONDC.

India needs to lead global tech transition, build jobs of the future: Ola Founder Bhavish Aggarwal

<ul class="summary-list"><li><keyword id="23944870" type="General" weightage="100" keywordseo="Sonya-Moore" source="keywords">Sonya Moore</keyword> decided that if Trump won in 2016, she would leave the US.</li><li>She followed through and has been living abroad for seven years.</li></ul>"If Trump wins this election, I'm <a target="_blank" class="" href="https://www.businessinsider.com/trump-reelected-americans-are-planning-to-flee-in-droves-2024-3">moving out of the country</a>." I said those words in November 2016. So did a lot of other Americans: so many, in fact, that <a target="_blank" class="" href="https://www.businessinsider.com/canadian-immigration-site-crash-election-2016-11">Canada's immigration website crashed</a> as votes were being tallied due to increased traffic. No joke. I don't know how many others <a target="_blank" class="" href="https://www.businessinsider.com/americans-who-left-us-because-of-trump-talk-biden-presidency-2020-12">followed through on that declaration</a>, but I did. Trump won the election, and 9 months later, I left the US. Full disclosure: Trump becoming president was not the only reason I left — it was also about being fed up with my corporate job, coupled with a strong desire to explore the world. I was 37, single, with no children or pets, so I was free to <a target="_blank" class="" href="https://www.businessinsider.com/working-mom-quit-job-expat-move-abroad-qatar-singapore-2023-12">quit my job</a>, uproot myself, and take off. I did own a house at the time, which I sold a few months after I left. Upon my departure, I didn't have much of a plan other than the intention to spend some time slowly exploring Asia and teaching English when I needed to make money. This no-plan thing was out of character for me, but I was very comfortable with <a target="_blank" class="" href="https://www.businessinsider.com/southeast-asia-travel-mistakes-packing-weather-clothing-traditions-medicine-2024-4">solo international travel</a>, thanks to previous study abroad experiences and 14 years of intensive overseas work-related travel. <div type="image" title="Sonya Moore in Siem Reap, Cambodia" height="1280" width="1600" msid="115071450" hostid="261"></div><h2>The move opened a new chapter in my life</h2>As months unfolded, I discovered that when you leave space for it, life guides you to the places, people, and opportunities that are meant for you. Seven years later, I'm still living <a target="_blank" class="" href="https://www.businessinsider.com/boomer-couldnt-afford-retirement-in-california-moved-abroad-travel-happy-2024-10">happily outside the US</a>. While my decision to leave opened up a horizon of experiences beyond my wildest dreams and led me to the man of my dreams, it hasn't all been a bed of roses. The first year, I lived off savings while traveling slowly through Asia. I started my travels in India, where I spent 10 days at a silent meditation retreat, attended teachings by the Dalai Lama, and took a <keyword id="20626363" type="General" weightage="20" keywordseo="yoga-teacher-training" source="keywords">yoga teacher training</keyword>. I promptly got hooked on teaching yoga. After four months in India, I continued <a target="_blank" class="" href="https://www.businessinsider.com/what-to-pack-traveling-in-southeast-asia-singapore-thailand-bali-2023-9">making my way through Asia</a> for eight more months. I swam in the crystal clear waters of the Maldives, visited healers in <a target="_blank" class="" href="https://www.businessinsider.com/american-family-kids-bali-decompress-relocate-slow-life-work-remote-2024-10">Bali</a>, witnessed breathtaking sunrise views from mountaintops in Laos, went island-hopped through the Philippines, rode motorbikes around Thailand's islands, and discovered ancient pagodas in Myanmar The cost of living in much of Asia is so low that savings can stretch a long way. I have high standards for my accommodations, and while traveling, I usually spent around $20 to $25 per night on hotels. Lower-maintenance friends of mine found simpler places for $6 per night in India. Meals usually cost around $3. After six weeks in India, I considered a lunch bill of $5 to be expensive. <h2>There have been times along the way when I've felt lost </h2>From time to time, I experienced stretches of feeling <a target="_blank" class="" href="https://www.businessinsider.com/relocation-moved-to-milan-living-abroad-emotionally-exhausting-unspoken-truths-2023-9">unsettled and lacking a sense of purpose</a>. Over the years, I learned that those periods of doubt and uncertainty will continue to surface. But I also learned to just keep trusting, and the way forward would eventually reveal itself. People often ask me if I was ever afraid while <a target="_blank" class="" href="https://www.businessinsider.com/what-women-need-to-know-traveling-solo-southeast-asia-tips-2022-12">traveling alone through Asia</a>. I never was — except a couple of times in India when riding on some precariously high Himalayan roads with no guardrails. But of people? I never had a reason to be. After a year away, I found an opportunity to teach yoga in a small mountain town in Myanmar. Life there was quiet, simple, and beautiful. I lived there for 9 months, and I was profoundly happy most of the time. But there were times <a target="_blank" class="" href="https://www.businessinsider.com/loneliness-how-to-make-friends-remote-worker-freelancer-new-city-2024-2">I felt lonely</a>. The locals were sweet and kind, with love in their eyes and actions, but I missed friends who spoke my language fluently, with whom I could have deep conversations over a glass of wine. And the dating scene? Nonexistent. <div type="image" title="Sonya Moore kissing a man at the airport" height="2118" width="1754" msid="115071453" hostid="261"></div><h2>I found love during my travels</h2>Another yoga teaching opportunity took me to Siem Reap, Cambodia. Siem Reap is not a big city, but after my small-town Myanmar life, it felt like Manhattan. There were so many restaurants, bars, social events, friends, and even some attractive single men. I fell in love with the town, the quality of life, and the locals. It was easy to get a tourist or work visa to live here long term, and it was almost as inexpensive as India and Myanmar. I was living in Siem Reap when COVID-19 hit. By that time, I was in a <keyword id="20752574" type="General" weightage="20" keywordseo="long-distance-relationship" source="keywords">long-distance relationship</keyword> with a French man I met during my travels. After the closed borders of the pandemic kept us apart for 7 months, I moved to France to be with him. Our story was long and winding, but it felt like destiny. He <a target="_blank" class="" href="https://www.businessinsider.com/my-partner-couple-travel-together-full-time-one-date-2024-5">loves global travel</a> like I do. We've been together for four years and are living together in Papua New Guinea. Our plan is to go back to a nomadic slow-travel lifestyle. My career has gradually evolved to encompass creative pursuits that light me up inside: retreats, writing, photography, and yoga. I am deeply grateful to my former self for <a target="_blank" class="" href="https://www.businessinsider.com/live-abroad-cheap-low-cost-living-high-quality-life-2024-1">choosing to leave the US</a>. I sometimes miss family and friends, but thanks to technology, our connection stays alive across the distance, and I go back to visit once a year. I still love America and feel lucky to have been born and raised there. But there's a big world out there waiting to be discovered. Do you have a personal essay about relocating to Asia that you want to share? Get in touch with the editor at <a target="_blank" href="mailto:akarplus@businessinsider.com">akarplus@businessinsider.com</a>. November 11, 2024 — An earlier version of this story mentioned Trump becoming president was not the reason Moore left, it was not the only reason.

I swore I would leave the US if Trump won the 2016 election. Here's how that worked out for me.

The <keyword id="19924335" type="General" weightage="100" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword> is set to create a massive 5 lakh jobs in the manufacturing sector over the next five years, spanning industries such as <keyword id="20009962" type="General" weightage="20" keywordseo="semiconductors" source="keywords">semiconductors</keyword>, <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> (EVs), batteries, and precision manufacturing. Tata Sons Chairman, <keyword id="19981536" type="General" weightage="20" keywordseo="N-Chandrasekaran" source="keywords">N Chandrasekaran</keyword>, made this announcement on Tuesday, underlining the critical role manufacturing will play in India’s ambition to become a developed nation. Speaking at a symposium organised by the Indian Foundation for Quality Management, Chandrasekaran highlighted that India’s progress depends heavily on its ability to generate <keyword id="22266334" type="General" weightage="20" keywordseo="manufacturing-jobs" source="keywords">manufacturing jobs</keyword>. He stressed that creating employment in this sector is crucial, given the influx of new workers entering the job market each month. “Through our investments in semiconductors, electric vehicles, precision manufacturing, and related industries, Tata Group expects to generate 5 lakh jobs over the next five years,” Chandrasekaran said as per a PTI report. He pointed to the group’s upcoming semiconductor plant in Assam and new manufacturing facilities for electric vehicles and batteries as significant contributors to this <keyword id="20268654" type="General" weightage="20" keywordseo="job-creation" source="keywords">job creation</keyword>. Chandrasekaran also talked about the broader impact of these initiatives, explaining that job creation in manufacturing has a multiplier effect, with numerous indirect employment opportunities arising from these projects. According to his calculations, for every direct job created in sectors like semiconductors, up to ten additional indirect jobs could emerge. The Tata Group’s investments will also spur the growth of small and medium enterprises (SMEs), with an estimated 5 lakh such businesses expected to form as part of the evolving ecosystem supporting these industries. While praising the government’s support for these initiatives, Chandrasekaran said that India’s vision of becoming a “Viksit Bharat” (developed India) cannot be achieved without substantial growth in manufacturing employment. “Every month, one million people join the workforce, and we need to create 100 million jobs,” he added, reinforcing the urgency of job creation in new-age industries. (With PTI inputs)

Tata Group will generate 5 lakh jobs in 5 years, says Tata Sons Chairman N Chandrasekaran

The state of the job market has been worrisome for people across the country ever since companies started carrying out large scale layoffs. In 2022, Twitter (now called X) laid off thousands of employees and eventually, companies like Meta, Google, Amazon, Microsoft and so on also began handing the pink slip to employees. Thousands of people took to social media platforms to share their ordeals. While some have successfully moved on to new roles now, many are still searching for opportunities, elevating competition in the job market. However, the situation isn't so grim everywhere. <keyword id="78512" type="General" weightage="100" keywordseo="iim-calcutta" source="Orion">IIM Calcutta</keyword> students bagged offers worth nearly 2 lakh per month for their summer internship programme. Curious? Read on to know more. The 61st batch of IIM Calcutta's flagship MBA programme saw all 475 students secure internships during the recent placement season. The numbers also speak volumes: a staggering median stipend of ₹2 lakh per month, a record-breaking achievement, and an average of ₹1.89 lakh that closely follows. And it doesn’t stop there—the highest domestic offer came in at ₹3.67 lakh, while international placements soared with top offers of ₹6.75 lakh per month. For many, this success story from IIM Calcutta is a reminder that when it comes to premium talent, there’s always a demand, even when the world feels uncertain. Professor Ritu Mehta, Chairperson of Placement Activities at IIM Calcutta, said as per a report in ET, "The outcome of the <keyword id="23806452" type="General" weightage="20" keywordseo="summer-internship-offers" source="keywords">summer internship offers</keyword> has yet again demonstrated the future readiness of our students in a highly competitive landscape. Globally, there is an ongoing recalibration of managerial jobs and pullback of job postings, hence we are very grateful to our recruiters to repose their trust in our students and our academic processes." Meanwhile, IIM Calcutta said, "The cluster-cohort placement process that involved various policies such as ‘dream offer’ enabled recruiters to find a better student-recruiter fit, making the overall process a win-win for both recruiters and students." For the unversed, IIM Calcutta, established in 1961 as the first Indian Institute of Management, is one of the most prestigious business schools in India and is globally renowned for its academic excellence. Known for its rigorous MBA programme, it has built a reputation for producing leaders equipped with strong analytical and strategic thinking skills. The institute has consistently attracted top-tier recruiters across various industries, and people across the industry keep a close eye during its placement season.

₹1.89 lakh per month for summer internship! Freshers at this institute bag bumper monthly stipend

<ul class="summary-list"><li>Nissan is cutting 9,000 jobs globally to reduce costs, the company said Thursday.</li><li>Sales fell to 1.6 million units due to higher costs, especially in the US.</li></ul>Nissan is cutting 9,000 jobs globally in an effort to cut costs, the Japanese automobile giant said in an earnings statement on Thursday.Nissan said that sales volumes decreased year-on-year to 1.6 million cars, hurt by higher selling and production costs, particularly from the US. That translated to much lower revenue: Profit for the quarter that ended in September was 32 million yen, or $208 million, falling far short of the $1.4 billion Nissan reported during the same period last year.Along with the layoffs, Nissan is cutting production capacity by 20%. CEO Makoto Uchida is also forfeiting 50% of his monthly compensation starting this month, among other executives who are taking a voluntarily pay cut.The company also installed Guillaume Cartier, currently the chair of Nissan's Africa, Middle East, India, Europe and Oceania unit, in a new role: chief performance officer, in which he will oversee sales and profit.Over the summer, Nissan started a voluntary severance program. At the time, a spokesman <a target="_blank" class="" href="https://www.autonews.com/manufacturing/nissan-offers-buyouts-cut-jobs-us-business-slides/">told</a> AutoNews that Nissan was not planning on layoffs. Nissan had 133,580 employees as of March 31. It was not immediately clear how the job cuts would be distributed among the company's global workforce.The company did not immediately respond to a request for comment.This is a breaking news story, please check back for updates.

Nissan is slashing 9,000 jobs after a dire financial performance

New Delhi [India], August 9 (ANI): Union Minister of Commerce &amp; Industry <keyword id="19895367" type="General" weightage="100" keywordseo="Piyush-Goyal" source="keywords">Piyush Goyal</keyword> stated that the leather and <keyword id="21599313" type="General" weightage="20" keywordseo="Footwear-industry" source="keywords">footwear industry</keyword> of the country has the potential to raise employment in the sector from the current 40 lakh to 1 crore. The minister stated it while inaugurating the 8th <keyword id="22718849" type="General" weightage="20" keywordseo="India-International-Footwear-Fair" source="keywords" meta.keywordsubtype="org" meta.entityname="India International Footwear Fair" meta.hostid="261" meta.entityid="India International Footwear Fair">India International Footwear Fair</keyword> in Delhi on Thursday. He highlighted that the leather and footwear industry has the ability to expand its market domestically and abroad. "We have the world market to capture. We need self-confidence, open mind to accept change" said Goyal. The minister also added that the implementation of Quality Control Orders (QCOs) will help prevent substandard, low-cost leather product imports and help save the Indian Footwear industry from unfair competition. He stated QCOs will help inculcate a spirit of quality among the domestic manufacturers, enabling India to become a world-class manufacturer of quality footwear. On liberalising the QCO guidelines, Goyal said that the Centre will give retailers two years to dispose of the existing footwear stock post application of the order. He also noted that fashion footwear manufacturing up to 72,000 pairs will not have to go through QCOs. Minister Goyal asserted that India is poised to become the market leader in the world. He also expressed hope for the footwear industry to become the world's largest manufacturer. Currently, India is the 2nd largest manufacturer and 9th largest exporter of footwear. The Minister also said that a target of USD 50 billion in exports by 2030 is achievable. He pointed out that QCOs don't apply to exports but the exporters have to meet the quality requirements of their clients. The Minister urged the industry to leverage the Free Trade Agreements (FTAs), especially with ASEAN and European countries and work towards making Indian brands global. Earlier the minister also highlighted that micro and small units under <keyword id="19990810" type="General" weightage="20" keywordseo="MSME" source="keywords">MSME</keyword> would continue to be exempted from the purview of QCOs. (ANI)

You Searched For "new jobs in India" and got 12 results

Apple is hiring 400 employees in India – roles, how to apply and all you need to know

Sourabh Jain

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

BI India Bureau

Weekend wrap: Real estate dominates India's investment portfolios, interview tips from Amazon employee and more

Divyanshi Sharma

Some techies are leaving cushy Silicon Valley jobs to launch startups at home in India

Shubhangi Goel,Charissa Cheong

India's diamond sector faces major crisis amid plummeting imports, exports, and massive job losses

BI India Bureau

Online vendors generated 15.8 million jobs in India: e-commerce report

PTI

India needs to lead global tech transition, build jobs of the future: Ola Founder Bhavish Aggarwal

PTI

I swore I would leave the US if Trump won the 2016 election. Here's how that worked out for me.

Sonya Moore

Tata Group will generate 5 lakh jobs in 5 years, says Tata Sons Chairman N Chandrasekaran

BI India Bureau

₹1.89 lakh per month for summer internship! Freshers at this institute bag bumper monthly stipend

Divyanshi Sharma

Nissan is slashing 9,000 jobs after a dire financial performance

Shubhangi Goel

Leather and footwear industry can create 1 crore jobs: Piyush Goyal

ANI

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