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<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

<div type="image" title="Founder Mode is the new buzzword in town" msid="113456356" hostid="261"></div> Silicon Valley is usually buzzing with new catchphrases every now and then. Earlier this year, the phrase “unbossing” captured corporate America’s imagination. The trend seems to be spreading in India as well with a few examples of companies firing middle managers. You can read more about the ‘unbossing’ trend in India here: <a href="https://www.businessinsider.in/business/article/whats-with-all-unbossing-talks-are-indian-companies-also-embracing-this-global-trend/articleshow/113395706.cms">What’s with all “Unbossing” talks?</a> Now, lo and behold, we've got a new trend straight from the minds of Silicon Valley's finest: <keyword id="23219793" type="General" weightage="100" keywordseo="founder-mode" source="Orion">Founder Mode</keyword>. It's like a superhero cape for CEOs but without the spandex. <keyword id="20064348" type="General" weightage="20" keywordseo="Y-Combinator" source="keywords" meta.keywordsubtype="org" meta.entityname="Y Combinator" meta.hostid="261" meta.entityid="Y Combinator">Y Combinator</keyword> co-founder <keyword id="20555672" type="General" weightage="20" keywordseo="Paul-Graham" source="keywords">Paul Graham</keyword>, inspired by Airbnb CEO Brian Chesky’s talk at an event, penned a blog post about Founder Mode and it got the entire startup world talking. According to Graham, when Chesky scaled Airbnb, he initially followed the widely accepted strategy: hiring skilled professionals and giving them autonomy. However, this approach felt like running a marathon in flip-flops, it simply didn’t yield the desired results. So, he decided to go full-blown "Founder Mode," which is basically being the CEO, the janitor, and the motivational speaker all at once. <div type="image" title="Paul Graham’s blog post went viral" msid="113456577" hostid="261"></div> Graham’s post points out that this experience is not unique to Chesky — many other founders have faced similar challenges and come to similar conclusions. The result is a growing recognition of ‘Founder Mode’. <h2><keyword id="23219794" type="General" weightage="20" keywordseo="what-is-founder-mode" source="Orion">What is Founder Mode</keyword>?</h2>Founder mode is a mindset that allows entrepreneurs to remain deeply involved in their companies’ day-to-day operations, even as they scale. As we have seen in many Hollywood movies and real-world examples like Jobs, Musks, Zuckerbergs, and Murthys, founders operate (a bit too) differently from trained executives and managers. They're like the kids who built their own fort and refuse to let anyone else touch it. On a serious note, anecdotal evidence does support that founders focus on the vision, processes, and details of the business in ways that managers typically do not. Graham's post suggests that it’s a different way of running a company — one that involves a hands-on approach to leadership, where founders engage with more than just their direct reports. <div type="image" title="Founders are different from managers" msid="113456522" hostid="261"></div> Unlike traditional corporate structures, where the top management is expected to delegate and step back, Founder Mode requires more personal involvement. Basically, when the CEO of a company is in Founder Mode, where founders bypass layers of management to interact directly with lower-level employees, they can just walk over to a junior employee and ask “What’s up?”, something that <keyword id="19903807" type="General" weightage="20" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword> reportedly has been doing for a while. One of the core aspects of Founder Mode, according to Graham, is that founders can make decisions with a level of intuition and insight that professional managers often lack. This is largely because they’ve built the company from the ground up and have an intimate understanding of its operations, culture, and customers. In contrast, professional managers are typically brought in to optimise and scale systems that are already in place, which might often lead to decisions that feel disconnected from the original vision of the company. <h2>Steve Jobs and Apple: The classic example of Founder Mode</h2> <div type="image" title="Many experts agree that Steve Jobs is a peak example of Founder Mode" msid="113456730" hostid="261"></div> A key example that Graham used is Steve Jobs, who famously ran Apple with an almost obsessive focus on product and design. Jobs didn’t simply delegate these responsibilities to his team; he was known for being involved in the minutiae, often directly challenging decisions and leading initiatives that others might consider too detailed for a CEO. Graham drew a parallel between this approach and what Chesky realised at Airbnb — that stepping back too much can actually harm the company. Founders, Graham wrote, are often “gaslit” into believing that they should adopt a more hands-off style, only to see their businesses suffer as a result. However, many experts also believe that Founder Mode is often disastrous for companies, except for rare examples, and a balance between founder and manager modes is necessary. <h2>Founder Mode VS Manager Mode: Experts weigh in on the debate</h2> <div type="image" title="Debates around Founder Mode have been rampant across social media since the beginning of this month" msid="113456800" hostid="261"></div> Debates around Founder Mode have been rampant across social media since the beginning of this month when Graham’s blog post came out. The philosophical divide between Founder Mode and Manager Mode often compels people to choose sides, while industry veterans and experts say that it’s important to understand both approaches and companies must try to achieve a balance between them. Sonica Aron, Founder of HR advisory firm Marching Sheep, recognises the importance of managers and says that it is important to have good people in the team and empower them. Talking to Business Insider India, she says, “As a founder, I find myself to be very purpose driven and passionate about my firm. As a result, sometimes decisions tend to get driven by the heart rather than the mind. Therefore it is essential to have bright and committed people in your team, empower them, involve them in decision making. Also, as the founder, I am responsible not just for the health of my business but overall well being of my team. If they do well, we all do well.” On the other hand, Mr. Srinivasa Addepalli, founder and CEO of GlobalGyan Leadership Academy, feels that the debate of Founder Mode vs Manager mode shouldn’t exist in the first place. He told Business Insider India that according to him, “all good leaders, whether startup founders or corporate executives, must be capable of both modes and switch between them depending on the context.” He added, “The Founder Mode leader tackles problems with passion and ownership, without concern for hierarchy, precedents, or due process. However, founders must remain humble about their fragility. To ensure sustainability, the Manager Mode—focused on developing others, building structures, and codifying knowledge—becomes essential, even as it requires them to relinquish some control and accept inefficiency. For instance, Steve Jobs’ decision to set up Apple University was a classic Manager Mode action by one of the best-known founders.” Ayush Singh, Founder of MaplePods, a smart-technology business, says, “Founder Mode may inspire new entrepreneurs, but seasoned founders know building something meaningful and scalable requires more than motivation—it's about solving problems, staying resilient, and seeking real support along the journey.” <h2>The downsides of Founder Mode</h2>While there are many people who believe that entering Founder Mode is healthy, some experts argue otherwise. They say that since founders are deeply connected to their vision, staying too hands-on can lead to micromanagement and hinder the growth of a leadership team. This creates a culture of dependency and can cause chaos when a founder steps into too many areas, leading to inefficiency and fear among employees. Mr. Ankit Aggarwal, founder and CEO of Unstop, told Business Insider India, “While Founder Mode can foster an entrepreneurial culture and drive rapid growth, it comes with significant challenges related to scalability, accountability, and founder burnout. As companies scale, Founder Mode can lead to bottlenecks, as founders may find it difficult to delegate. This limits the development of a strong leadership team and may stifle creativity from other employees.” Further, he adds that intense involvement can lead to founder burnout, negatively affecting both the individual and the company. “In the long run, while Founder Mode may work for early-stage <keyword id="6362513" type="General" weightage="20" keywordseo="startups" source="Orion">startups</keyword>, founders must recognise when to step back and 'devolve'. Devolving to allow the company to grow through more traditional structures, without succumbing to excess hierarchy. Balancing innovation with scalability is key to long-term success, allowing founders to focus on strategy while empowering their teams.” Meanwhile, Aleksandr Yampolskiy, cofounder and CEO of SecurityScorecard, said in a LinkedIn article that the Founder Mode has both pros and cons. He highlighted the value of founder mode in providing visionary leadership and empowering CEOs to challenge their teams and boards when necessary. However, Yampolskiy also wrote that overstepping and micromanaging can create chaos and a culture of fear. He said that founders must learn to evolve with the company’s growth, delegating and making themselves dispensable over time. <h2> Why are people talking about Founder Mode now?</h2> <div type="image" title="Why are people talking about Founder Mode?" msid="113456851" hostid="261"></div> So, why did Graham’s blog post go viral and why are people talking about Founder mode? Discussions around Founder Mode vs Manager Mode might have been around for a long time, but Graham’s post helped a great deal in popularising the confusion that millions of founders go through. Risa Mish, a management professor at Cornell University’s Johnson College of Business, told Observer that it is “no surprise that Graham’s message has resonated with founders for whom the conventional wisdom hasn’t worked.” “It comes down to something very basic, which is that one size never fits all.” Do you have insights or personal experience to share on start-ups or latest corporate buzzwords? Contact us at businessinsider@timesinternet.in.

SIMPLY PUT: Founder Mode — the secret sauce to startup success or fancy term for hustle and micromanagement?

The e-commerce market in India is projected to increase significantly to over USD 300 billion by 2030 as the country's <keyword id="20107419" type="General" weightage="20" keywordseo="digital-economy" source="keywords">digital economy</keyword> is set to reach a whopping USD 1 billion by the same year. According to <keyword id="19918506" type="General" weightage="20" keywordseo="Invest-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Invest India" meta.hostid="261" meta.entityid="Invest India">Invest India</keyword>, India's online shopper base will be the 2nd largest globally by 2030, with nearly 500-600 Mn shoppers. Even now, India has the 2nd largest Internet user-base globally with 881 million users. India is moving towards becoming a dominant force in global e-commerce by 2030, driven by a growing digital economy and an expanding internet user base. The data from the investment promotion and facilitation agency Invest India from shows India taking the lead in <keyword id="19957108" type="General" weightage="20" keywordseo="online-shopping" source="keywords">online shopping</keyword>, the e-commerce sector in India is valued at USD 70 billion at present. This makes up for just around 7 percent of the total retail market in the country. However, several factors are likely to contribute a bright future outlook for the sector. <cmsannotation type="cmsannotation" annotationid="Growing internet penetration and digital economy" comment="subhead" text="Growing internet penetration and digital economy">Growing <keyword id="20707509" type="General" weightage="20" keywordseo="internet-penetration" source="keywords">internet penetration</keyword> and digital economy</cmsannotation> Internet penetration across has seen substantial growth, with over 60% of the Indian population (918 million) using the internet by September 2023. Further, an estimated 87 percent of Indian households are projected to have internet access as early as 2025. The time spent accessing the internet via mobile devices has also increased by 21 percent compared to 2019. The affordability of data prices in India is a key factor, with one gigabyte of data priced at around USD 0.17 (Rs 13.5), encouraging a large portion of the population to go online. <keyword id="21457667" type="General" weightage="20" keywordseo="mobile-data-traffic" source="keywords">Mobile data traffic</keyword> has tripled from 2018 to 2023, demonstrating the growing dependence on <keyword id="19979951" type="General" weightage="20" keywordseo="digital-platforms" source="keywords">digital platforms</keyword> for diverse requirements. It is projected that by 2026, 1.18 billion people across the country will have access to smartphones, over 80% of India's population. The increasing number of smartphone users along with higher average data consumption per user, boosts the digital economy. The Unified Payments Interface (UPI) has become a major player in digital payments, handling transactions worth USD 1.5 trillion in 2022. There has been a significant increase in the availability of local language and mobile-first content, with about 73 percent of India's internet users utilizing Indian languages. As a result, there is an estimated regional language user base of 540 million, creating a market worth USD 53 billion. Digital infrastructure like UPI, eKYC, and Aadhaar has cut down the consumer onboarding time by 80 percent, enhancing the digital experience. The Open Network for Digital Commerce (ONDC) is another notable initiative by the Government of India, launched in 2022. It aims to provide equal opportunities to MSMEs to thrive in digital commerce and democratize e-commerce. <cmsannotation type="cmsannotation" annotationid="A transition along with growth" comment="subhead" text="A transition along with growth">A transition along with growth</cmsannotation> In FY 2022-23, Government e-marketplace (GeM) registered its highest ever Gross Merchandise Value of $2011 Bn, shows data from Invest India. The projected growth in online shoppers in India is substantial, with a compound annual growth rate (CAGR) of 22 percent to 88 million in rural India and 15 percent to 263 million in urban India from 2019 to 2026. There is a notable transition towards rural-focused value e-commerce, with more than 60 percent of demand anticipated to come from tier 2-4 towns and rural India by 2026. Government programs such as the National Logistics Policy are designed to streamline deliveries to remote areas, improving the efficiency and cost-effectiveness of logistics. The quick commerce market in India's hyperlocal mobility sector is also projected to grow exponentially to achieve a market size of USD 5.5 billion by 2025. Leading companies like Swiggy and Zomato are at the forefront of the market, while startups like Zepto are also gaining substantial market share. <keyword id="20873923" type="General" weightage="20" keywordseo="social-commerce" source="keywords">Social commerce</keyword>, a new trend that uses social networks and digital media to connect buyers and sellers, is also projected to achieve a market size of USD 70 billion by 2030, with small video applications gaining significant popularity. Significant mergers and acquisitions have been observed in the e-commerce sector, with companies such as Zomato and PhonePe making strategic decisions to enhance their positions. Government schemes like Jan Dhan Yojana, BharatNet Project, and the implementation of Goods &amp; Service Tax (GST) have been instrumental in shaping India's digital economy. (With inputs from ANI)

India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030

Global mobility fintech startup <keyword id="20582833" type="General" weightage="20" keywordseo="moove" source="keywords">Moove</keyword> on Wednesday said it has raised $10 million in new debt funding from leading venture debt fund <keyword id="19952355" type="General" weightage="20" keywordseo="stride-ventures" source="keywords">Stride Ventures</keyword> to expand its <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> footprint. The fresh capital will be utilised to scale the Indian fleet to over 5,000 and expand into new markets including Delhi, Pune and Kolkata, the startup said in a statement. "Our vehicles have completed over 4.2 million trips, significantly impacting India's mobility sector. With the robust support of Stride Ventures, we stand on the cusp of transforming vehicle ownership nationwide, propelling our mission forward," said <keyword id="20582834" type="General" weightage="20" keywordseo="binod-mishra" source="keywords">Binod Mishra</keyword>, Regional Managing Director, India and South Asia, Moove. Gurugram-headquartered Moove has established its presence in Bengaluru, Mumbai and Hyderabad. "Our alliance with Moove is set to transform vehicle ownership accessibility throughout India, marking a significant leap towards social and economic advancement," said <keyword id="20582835" type="General" weightage="20" keywordseo="apoorva-sharma" source="keywords">Apoorva Sharma</keyword>, Managing Partner at Stride Ventures. Operating in nine markets across Africa, the Middle East, Europe and Asia, Moove has emerged as Uber's top vehicle supply partner in Europe, the Middle East and Africa (EMEA) and its largest global fleet partner. Currently, over 30 million trips have been completed in Moove-financed vehicles globally, said the startup. The company uses technology and productivity data to build an integrated, revenue-based vehicle financing platform for mobility entrepreneurs in emerging markets around the world who have limited or no access to a vehicle or vehicle financing. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/poco-oneplus-top-indian-smartphone-shipment-growth-but-overall-reading-flat/articleshow/107681294.cms">Poco, OnePlus top Indian smartphone shipment growth but overall reading flat</a> <a href="https://www.businessinsider.in/tech/mobile/news/seven-out-of-top-10-smartphones-sold-worldwide-in-2023-were-iphones/articleshow/107617907.cms">Apple domination: Seven out of top 10 smartphones sold worldwide are iPhones</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-february-2024/slidelist/107220575.cms">Samsung to Nothing – The upcoming smartphones hitting Indian market in February</a>

Mobility fintech startup Moove raises $10 mn to expand India footprint

Google's new report on <keyword id="19904566" type="General" weightage="20" keywordseo="artificial-intelligence" source="keywords">artificial intelligence</keyword> (AI) emphasizes responsible AI development and suggests recommendations for policymakers, companies, and civil society. The report titled "An AI Opportunity Agenda for India" outlines how artificial intelligence can drive <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword>, social progress and global leadership for the nation. The report says India with its rapidly growing economy, outstanding tech talent, young demography and vibrant start-up ecosystem, is poised to reap the immense benefits of artificial intelligence. A comprehensive and responsible approach to AI can unlock significant economic growth and societal progress in India. "The potential economic impact of AI in India is substantial - reports estimate that at least INR 33.8 lakh crore of economic value from <keyword id="20037918" type="General" weightage="100" keywordseo="AI-adoption" source="keywords">AI adoption</keyword> can be achieved in India in 2030. While these achievements signify a promising beginning, unlocking the full potential of AI hinges on the strategic decisions we make today," says a Google's press release. The report suggests that to maximize the AI opportunity for India collaborative efforts are needed across government, industry, and civil society. They need to prioritise three key areas which include investments in infrastructure and innovation, building human capital and an AI-powered workforce and promoting wide adoption and universal accessibility. AI is already addressing some of the most pressing challenges like revolutionizing farming practices and improving <keyword id="20646060" type="General" weightage="20" keywordseo="healthcare-access" source="keywords">healthcare access</keyword>. The <keyword id="20214323" type="General" weightage="20" keywordseo="agriculture-sector" source="keywords">agriculture sector</keyword> is getting the benefits of AI through minimizing climate risks, optimizing productivity and sustainability, and providing access to real-time crop pricing information and early warning of potential crop threats. Many <keyword id="23569666" type="General" weightage="20" keywordseo="AI-powered-platforms" source="keywords">AI-powered platforms</keyword> are empowering farmers to boost crop yields and encourage sustainable practices. In the healthcare sector, AI is being used for better diagnosis, bigger access, and personalized care, especially for underserved communities. Google has partnered with <keyword id="23569667" type="General" weightage="20" keywordseo="ARMMAN" source="keywords" meta.keywordsubtype="org" meta.entityname="ARMMAN" meta.hostid="261" meta.entityid="ARMMAN">ARMMAN</keyword> to use AI to identify women at risk of dropping out of their health information program, allowing for personalized interventions to improve maternal health outcomes. ARMAAN seeks to address the pervasive systemic problems underlying maternal and child mortality and morbidity in India.

AI adoption can unleash Rs 33.8 lakh crore of economic benefit to India in 2030: Google Report

<ul><li><keyword id="6354743" type="General" weightage="20" keywordseo="amazon-india" source="Orion">Amazon India</keyword> on Friday confirmed the acquisition of <keyword id="4994766" type="General" weightage="20" keywordseo="glowroad" source="Orion">GlowRoad</keyword>, a women-focused <keyword id="623994" type="General" weightage="20" keywordseo="social-commerce" source="Orion">social commerce</keyword> company.</li><li>Several media reports suggest that GlowRoad was valued at $75 million in this deal.</li><li><keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword> believes that the move will help the company achieve its goal to digitise 10 million businesses by 2025.</li></ul>Amazon India on Friday confirmed the acquisition of GlowRoad, a women-focused social commerce company. This is the first investment ecommerce giant Amazon has made to grow its social commerce vertical in India. Though the transactional details of the acquisition have not been revealed, several media reports suggested that GlowRoad was valued at $75 million in this deal. TechCrunch and Economic Times<a href="https://economictimes.indiatimes.com/tech/technology/amazon-acquires-reseller-platform-glowroad-to-bolster-social-commerce-ambitions/articleshow/90987418.cms?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=update&amp;ncode=84f1fd2cbcf57e646c4069c0e7654a795cdef8eacdf35ffc12176d234712e5a50eb7dce5cc8faf0dd69e01b8210009d59aff80b374da1320677d663dcc32d94d8f2bad7f26e87c038f3aa21855862ce3"> reports </a>also suggested that Amazon acquired the company in an all-cash deal. Amazon believes that the move will help the company achieve its goal to digitise 10 million businesses by 2025. “Amazon continues to explore new ways to digitise India and delight customers, micro- entrepreneurs and sellers and bringing GlowRoad onboard is a key step in this direction. Together with GlowRoad, Amazon will help accelerate entrepreneurship among millions of creators, homemakers, students, and small sellers from across the country. This acquisition will complement GlowRoad’s already loved service with Amazon’s technology, infrastructure, and digital payments capabilities, bringing more efficiency and cost-saving for everyone,” Amazon spokesperson told Business Insider. GlowRoad was founded in 2017 by Sonal Verma, Kunal Sinha, Nitesh Pant, Shekhar Sahu and Nilesh Padariya. The founders of the company, cumulatively, held close to 50% shareholdings in the company. Founders Verma and Sinha owned a relatively larger chunk among the other founders. The company has raised over $31 million to date, from marquee investors like Korea Investment Partners, Vertex Ventures, CDH Investments and RB Investments. Accel is the largest shareholder in the company, with nearly 19% stake, according to business intelligence platform Tracxn. The five-year-old startup raised its last round in November 2020, when it raised $7 million. GlowRoad is a social commerce network, which enables suppliers to sell their products to end customers through resellers across more than 20,000 pincodes in 2,000 cities. The company focuses on Tier II and III markets through resellers, who are typically housewives, temporary workers or students. According to the company’s website, a reseller can make up to ₹20,000 per month if they sell close to 100 products a month. It claims to have over 6 million resellers on the platform. The company competes with DealShare, CityMall and YouTube-owned SimSim. Meesho too was in the segment, but the company changed its business model to a full-fledged ecommerce platform. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/sustainability/article/by-commuting-less-heres-how-employees-and-companies-contribute-to-global-climate-change-and-sustainability-goals/articleshow/90994259.cms" style="">By commuting less, here’s how employees and companies contribute to global climate change and sustainability goals </a><a href="https://www.businessinsider.in/stock-market/news/hcl-tech-paytm-nestle-tvs-motor-among-stocks-to-watch-out-for-on-april-22/slidelist/90992626.cms" data-type="tilCustomLink" style="">HCL Tech, Paytm, Nestle, TVS Motor among stocks to watch out for on April 22</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-new-upcoming-phone-in-india-oneplus-10r-5g/articleshow/90994523.cms" data-type="tilCustomLink">Here's what the upcoming OnePlus 10R 5G will look like</a>

Amazon acquires its first social commerce startup in India

<keyword id="19902762" type="General" weightage="100" keywordseo="Google" source="keywords" meta.keywordsubtype="org" meta.entityname="Google" meta.hostid="261" meta.entityid="Google">Google</keyword> laid off thousands of employees in 2023 and many found their lives turned upside down with just an email notification. After all, when you have given your heart and soul to an organisation, it is never easy accepting the fact that you are being asked to leave at a moment’s notice. The situation becomes even more complicated when you have been with the company for more than a decade. Something similar happened with <keyword id="23300967" type="General" weightage="20" keywordseo="Nicholas-Whitaker" source="keywords">Nicholas Whitaker</keyword>, who had been working with the company since 2010 and found out about his <keyword id="20118388" type="General" weightage="20" keywordseo="layoff" source="keywords">layoff</keyword> abruptly. <h2>The 3 am email bringing bad news</h2>“My layoff experience was traumatic. I got an email at 3 am to my personal email, that I only found because a colleague pinged me on Linkedin in the DMs to ask if I was ‘Ok’ and if I was ‘safe’,” Whitaker told <keyword id="21390875" type="General" weightage="20" keywordseo="Business-Insider-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Business Insider India" meta.hostid="261" meta.entityid="Business Insider India">Business Insider India</keyword> in a conversation. He added that when his colleague enquired about his safety, he thought it was a “shooting or some natural disaster.” In other words, he didn’t even imagine that he was being laid off from Google. He then revealed that when he checked his work email, he discovered that he was locked out of his laptop and phone. He then checked his personal email and there it was, the “short and impersonal email” that told him that his role at Google was being eliminated. <h2>The layoff process was uncomfortable</h2>When Google announced large-scale layoffs last year, the company made a lot of headlines for handling them in an unprofessional manner. In March 2023, several Google employees had even written an open letter to Google CEO Sundar Pichai, asking him to deal with layoffs in a better manner. Whitaker, narrating his own experience, shared with Business Insider India that after receiving the dreadful layoff email at 3 am, he spent the next few months completing formalities to get his payments that were due. He said, “It took all of the next several months for me to mail back my laptop, badge and any gear that I had that was Google property. (I also had to) navigate unemployment, health insurance and get all of the documentation I had to submit to "self Offboard" and to receive payments that I was supposed to get.” “Along the way there were multiple errors and miscommunications from the team that made it all even more uncomfortable,” he said. Whitaker also noted a complete lack of communication and empathy from his old team at Google. “I got a single text message from my prior manager asking how I was doing a few days after I was laid off, but otherwise no one reached out to check on me or offer assistance from my old team. Overall I found the process to be brutally impersonal and inhumane,” he said. <h2>Experience at Google</h2>But was Google always “inhumane” in his experience? Not really. There were some amazing days too and Google, according to Whitaker, was a different company when he had joined. “My initial experience working at Google was like it was a completely different company. I started as a temp, contractor and then a vendor for Google back in 2010, and at the time I think it was something like 40,000 employees. It had a real startup feel to it. Teams were agile and collaborative, and there was a lot of room for growth. It may have been specific to my team and org, but it felt like you had a lot more room for experimentation and autonomy to make decisions, and failure wasn't seen as a bad thing, but a necessary part of innovation,” he said. Whitaker also said that a “class system” was there at Google, especially since he was a TVC (Temporary, Vendor and Contractor). “As a TVC you wouldn't be included in many of the activities and learning opportunities that full time employees had, and didn't get invited to extracurricular activities. There was a real bias towards culture at the time, and words like Don't be Evil, and be Googly were often used.” However, in general, he added that the atmosphere was positive and full of possibilities. “Colleagues generally were very supportive, collaborative and encouraging to work with. I was excited as this was my first time working in big tech, or Corporate America and I saw that period of time as a real coming of age for me. I learned how to be a professional at Google and appreciated all of the early guidance and support that I got from colleagues and leaders.” <h2>Helping others</h2>It has now been over a year since Whitaker was laid off. He now has his own venture and helps other people navigate their careers. Talking about what motivated him to kick-start his own venture, he said, “After 13 years in big tech, the last few years in particular being particularly difficult due to toxic teams and leaders, I didn't want to jump right back into that kind of experience again. A year before getting laid off, I had experienced a bad <keyword id="19956983" type="General" weightage="20" keywordseo="mental-health" source="keywords">mental health</keyword> crisis that was the result of workplace bullying, gaslighting and toxic leadership. "I wanted to help others avoid and recover from similar situations and create a community where people can find mutual support and coaching on how to best navigate their careers in a conscious way. My severance after working so long at Google allowed me to fund the launch of my coaching business, and eventually ‘changingwork.org’." <keyword id="23300968" type="General" weightage="20" keywordseo="Changing-Work" source="keywords">Changing Work</keyword>, Whitaker explained, is his way of addressing a deep need in corporate life — helping people rediscover their sense of purpose and alignment in their careers and finding ways to build more conscious leaders and businesses. He added, “What makes this so transformative for me personally is that it allowed me to step into a role where I could integrate all the lessons from my own career—especially the parts that were hardest for me. During my time at Google, I saw firsthand how high-pressure environments can lead to burnout, anxiety, and a disconnect from our true selves.” The recent tragic death of a young CA at Ernst &amp; Young (EY) employee in India has turned the spotlight on toxic work cultures prevalent in many high-pressure industries. Broader debates on burnout, mental health struggles, and unrealistic expectations in corporate environments in the workplace have occupied social media platforms. This incident serves as a painful reminder that companies must prioritize <keyword id="21050364" type="General" weightage="20" keywordseo="employee-well-being" source="keywords">employee well-being</keyword> and mental health to foster sustainable, humane workplaces. And makes the work that people like Whitaker are doing all the more important. “I’ve spoken publicly about how mindfulness practice, coaching and therapy literally saved my life during some of my darkest times at Google. Changing Work is the culmination of that journey. It’s not just about helping others find balance and fulfillment—it’s about creating a space where I can live those values every day,” he concludes.

Fired from Google after 13 years of service, he used his severance to build a business around helping others with their careers

<ul><li>There are over<a href="https://www.britishcouncil.org/sites/default/files/bc-report-ch4-india-digital_0.pdf"> 2 million</a> recognised <keyword id="910850" type="General" weightage="20" keywordseo="social-enterprises" source="Orion">social enterprises</keyword> in India, compared to 56,000+ startups.</li><li>While organisations wake up to the need for action, many social enterprises are already working on a list of challenges that go back decades. </li><li><keyword id="2688812" type="General" weightage="20" keywordseo="TiE-hyderabad" source="Orion">TiE Hyderabad</keyword>'s Manohar Reddy noted that financing solutions and grants for social enterprises have started emerging in India.</li></ul> There are over<a href="https://www.britishcouncil.org/sites/default/files/bc-report-ch4-india-digital_0.pdf"> 2 million</a> recognised social enterprises in India — compared to 56,000+ startups recognised by the government — yet you hardly hear about them making the headlines. In order to provide proper backing and an ecosystem to fall back upon, TiE Hyderabad is hosting <keyword id="12242243" type="General" weightage="20" keywordseo="TiE-sustainability-summit" source="Orion">TiE sustainability summit</keyword> on October 4 and 5, 2021. The summit will be attended by 25,000 social enterprises from 54 countries, making it the world’s largest summit for social enterprises in the sustainability space. The event aims to create a community of social entrepreneurs and offer support for financing, networking and collaboration for enterprises across countries. Business Insider is an insights partner to this event. Are there really any opportunities in the Indian social enterprises space? “Those companies working toward sustainability will save the planet, will reduce the carbon emissions, will get us to the net zero condition, where we will leave this planet in a better shape for the next generation,” Manohar Reddy, chair of TSS 2021 and president TiE Hyderabad, told Business Insider. The concept of ESG (Environment, social and governance) investing is gaining prominence. While organisations wake up to the need for action, many social enterprises are already working on a list of challenges that go back decades. The following are some of the examples: <ol><li>Poverty eradication</li><li>Find solutions to water and food production challenges</li><li>Deployment on modern technologies to eradicate social, climate, pollution related issues</li><li>Providing a platform for discussion, debate, influencing policy making in the sustainability space</li><li>Issues related to life on land, life under water</li><li>Gender equality</li><li>Education, healthcare, livelihood and other key issues plaguing the society.</li></ol>Few examples of India’s social enterprises <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Social Enterprise </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;">What they do </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;">Bandicoot </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;">Bandicoot has developed a robot that cleans manholes. </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;">SHEF (Study Hall Education Foundation) </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;">Shef offers education to disadvantaged girls in India. </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;">Selco </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;">Selcon runs a rural solar financing program in India </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;">Goonj </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;">A social enterprise that collects used clothing from the urban crowd, sort them, fix and later distribute among the poor and needy. </td></tr></tbody></table> Reddy noted that financing solutions and grants for social enterprises have started emerging in India. It’s only the matter of right mentorship to divert them to that direction and help them build a scalable enterprise. Meanwhile, it is also true that the social enterprise has been lost in the shine of Indian startups that have the potential to over attract attractive returns. Many only take notice of this social segment in the name of tax rebates and corporate social responsibility. Recently, a panel constituted by the market regulator Securities and Exchange Board of India (SEBI) advised the setting up of a ‘social stock exchange’. It would work like a regular stock exchange except that the firms listed on it would be non-government, social enterprises. This would help many of these upstarts raise money for their ventures. “The new technologies, when I, when we say sustainability, when we are committed to sustainability. We have to commit to new and new technologies in the energy space, it is how energy is produced, maybe the solar photovoltaic technology or the advancements in the solar technologies in our renewable energy technologies and how we store that and how we disseminate it,” Reddy said, adding this is just an example hoe opportunities can be created by making technology that don’t emit carbon dioxide. He added that there are social aspects to sustainability too, which offer better life and livelihood to people. SEE ALSO <a href="https://www.businessinsider.in/thelife/news/meet-girish-mathrubootham-founder-and-ceo-of-freshworks/articleshow/86453777.cms">Girish Mathrubootham, the son of a retired bank officer who built a $13 billion company in just 10 years</a> <a href="https://www.businessinsider.in/india/news/anil-ambani-sachin-tendulkar-kiran-shaw-and-other-indians-named-in-the-pandora-papers-leak/articleshow/86745435.cms">Anil Ambani, Sachin Tendulkar, Kiran Shaw and other Indians named in the Pandora Papers leak</a> <a href="https://www.businessinsider.in/business/startups/news/byjus-has-raised-1-3-billion-this-year-to-so-far-in-pursuit-of-its-american-dream/articleshow/86745427.cms">Byju’s has raised $1.3 billion this year to so far in pursuit of its American dream</a>

There are thousands of startups causing real change but you may have never heard of them

<ul><li>The revised business forecast and expected margins have forced companies to redraw their business plans and align their cost structures. </li><li>The <keyword id="6357067" type="General" weightage="100" keywordseo="layoffs" source="Orion">layoffs</keyword> that are happening in cohorts, are mostly to restructure the workforce according to changing business objectives. </li><li>Basic IT roles, new initiatives roles, and anything else that automation/semi-automation can take over are at risk. </li></ul>Layoffs are in the news. The reasons are many but <keyword id="604702" type="General" weightage="20" keywordseo="employee-performance" source="Orion">employee performance</keyword>. And that is the definition of layoff too —- the <a href="https://dictionary.cambridge.org/dictionary/english/act">act</a> of <a href="https://dictionary.cambridge.org/dictionary/english/ending">ending</a> a worker's <a href="https://dictionary.cambridge.org/dictionary/english/job">job</a>, sometimes <a href="https://dictionary.cambridge.org/dictionary/english/temporarily">temporarily</a>, usually because there is not enough <a href="https://dictionary.cambridge.org/dictionary/english/work">work</a> to do. Start-ups that raised capital during the go-go days of the pandemic, are now waking up to a different reality, where the next round of capital will be scarce and the business case is looking tougher, which is why these companies have led the layoffs in India. Since layoffs are not necessarily about the performance of employees, Business India spoke to a variety of human resource experts to understand what segments are at risk. Oftentimes, companies permanently discharge workers because of economic conditions or shortage of work. In such a situation, someone is laid off not necessarily based on one’s performance but because the role is not relevant any more. Here’s what we found: <cmsannotation type="cmsannotation" annotationid="Core functions are least at risk" comment="subhead2" text="Core functions are least at risk">Core functions are least at risk</cmsannotation> As unfortunate as it may be, but the first to get axed are the support functions. Revenue-generating functions are relatively safe from such mass layoffs. “During all slowdowns, companies prioritize retaining employees who are essential to their core operations and revenue-generating activities. However, we have seen new trends during certain slowdowns, such as the Covid-19 pandemic, where certain industries and job roles may be more vulnerable due to factors such as reduced demand, temporary closures, or shifts in consumer behaviour,” says Sanjay Shetty, director, professional search &amp; selection, and strategic accounts, Randstad India, a HR consulting firm. On the other hand, he adds that currently, the layoffs which are happening in cohorts, are mostly to restructure the workforce according to the changing business objectives. <cmsannotation type="cmsannotation" annotationid="A changing reality" comment="subhead2" text="A changing reality">A changing reality</cmsannotation> “High inflation has put a significant strain on margins. We have seen Q2 and Q3 results in India where revenues were in line with market expectations but margins were lower. As companies finalize their FY24 plans, every cost item is scrutinized, and any excess is identified and trimmed,” says Mayur Taday, chief business officer, TeamLease Services, an HR firm. During Covid, most companies focused on strategy for the post-Covid world, including digitalisation and forecasting demand based on specific themes. In accordance with the demand forecast, they constructed organizational structures and costs. IT companies, in particular, have been recruiting with the expectations of better days, which have not come about. Several assumptions were not validated due to geopolitical factors, disruptions in the supply chain, and unpredictability of consumer behaviour. Following Covid, the demand-supply situation forced higher-cost hiring. “The revised business forecast and expected margins have forced companies to redraw their business plans and align their cost structures,” adds Taday. Experts agree that you are more likely to be laid off if you are in one of the following roles. Anything that automation can take over: “The likes of ChatGPT will take away <keyword id="11018" type="General" weightage="80" keywordseo="jobs" source="Orion">jobs</keyword> that demand significantly fewer variations besides being repetitive like coding, data entry etc,” says Rishi Patil, founder and director, Executive 81, a recruitment firm. So basic jobs which do not require any social or emotional intelligence are likely to be redundant. New initiative roles: “New initiatives roles are among the few types of specific job roles that are most at risk during layoffs,” says Shetty. During a good phase companies have expansion plans and recruit people for that purpose. During lean times, such jobs are at a threat of being terminated unless the company is making a specific effort to pivot into these new areas. Overpaid hiring: The demand supply situation is now tilted in the favour of supply. “All such hirings that were overpaid as a result of the then-prevailing overheated demand situation are being scrutinized,” says Taday. So, those being paid significantly above market rates, have a higher chance of losing their job. Contractual workers: According to a report by recruitment firm Spectrum Talent Management, 50% of Indian first were hiring contract employees amidst mass layoffs, since they were trying to avoid increasing their fixed costs. “Contractual workers in some cases might also feel the heat during downsizing due to the seasonal nature of their jobs,” says Shetty. Since these employment terms are for a certain period, the company may not renew it when the requirement is over. <cmsannotation type="cmsannotation" annotationid="Hiring to continue" comment="subhead2" text="Hiring to continue">Hiring to continue</cmsannotation> “We must understand that while organizations have, in some cases, adopted a strategic layoff approach, they are also hiring at a fairly reasonable pace. We expect companies in the IT, telecommunications, and services sectors to continue hiring due to increased digitization, 5G expansion, and a rebound in service sectors to pre-Covid levels of growth,” says Shetty. According to an internal survey by Randstad India, seven out of ten tech companies plan to increase their headcount in the next couple of months, suggesting that hiring in the Indian IT sector is likely to pick up as well. “Compared to the previous year, they expect a 25-30% increase in demand for tech talent in non-tech industries in 2023, driven over by the continued digitization of operations as these industries strive for greater scalability,” says Shetty. Says Saumitra Chand, career expert at Indeed, a job search portal, “We are seeing an increase in demand for talents in non-tech sectors such as healthcare, food services, construction and education. Even sectors like marketing, which was one of the earliest to see layoffs during the pandemic, has picked up steam.” To sum up, everything in the job space is evolving at a rapid pace. If one is not relevant to the new paradigm, their job is at risk. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mfs-add-shares-of-indigo-paytm-pvr-nazara-technologies-among-others-in-february/articleshow/98630434.cms">MFs add shares of Indigo, Paytm, PVR &amp; Nazara Technologies among others in February</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/sonys-new-camera-allows-visually-impaired-to-enjoy-photography-to-the-fullest/articleshow/98628614.cms">Sony’s new camera allows visually impaired to enjoy photography to the fullest</a>

You Searched For "social startup india" and got 9 results

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AI adoption can unleash Rs 33.8 lakh crore of economic benefit to India in 2030: Google Report

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There are thousands of startups causing real change but you may have never heard of them

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Is your job at risk? If you're working in any of these roles then you need to be worried

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