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<ul><li>Tech brands have fared badly in 2023 due to global headwinds, recession threats and more.</li><li>Banking and financial services companies including fintechs saw their value swell during the year.</li><li>PhonePe and Cred were the new entrants into Kantar’s list of Top 75 Indian brands.</li><li>Auto companies made a comeback from Covid-lows with TVS and Mahindra being among the fastest risers. </li></ul>It is not just the share prices of technology services companies that are falling, even their brand value has taken a beating. India’s top brands have borne the brunt of the global economic downturn in 2023. The combined value of Kantar BrandZ’s top-75 Indian brands shed 4% of their value to $379 billion in 2023. Yet, they have fared better than their global counterparts, as its global list has shed 20% of its value. Most of this loss in brand value was seen in Indian tech brands whose value shrunk by 14%. The brands have a major presence in international markets, and have been impacted by global pressures, recession threats and geopolitical instability, says Kantar. “If you exclude tech, the combined brand value is quite stable,” said Soumya Mohanty, managing director and chief client officer, South Asia, Insights Division of Kantar. TCS on the top, as usual The spot of India’s most valuable brand, however, is retained by tech giant TCS. It has shed 6% of its value but has fared better than tech as a sector. “TCS has a strong corporate reputation which makes it more likely to retain clients and business. It can also help enable customer retention which is also a factor that adds to brand value,” Deepender Rana, executive managing director of South Asia Insights Division at Kantar told Business Insider India. Infosys’ brand value dropped by 17%, while HCL Tech’s brand value rose by 3%. Both these brands made it to the top 10. Wipro’s brand value dropped by a sharp 42%. The rest of the list is dominated by banks, telecom companies with only one consumer company, Asian Paints in the top 10. Kantar BrandZ Top 10 Most Valuable Indian Brands 2023 <table style="border-width: initial; border-style: none;"></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;">Rank 2023 </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;">Brand </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;"> Category </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;">Brand Value 2023 </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;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consultancy Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business Technology and Services Platforms </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;">$42.9 bn </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;">2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </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;">Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$33.6 bn </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;">3 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </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;">Business Technology and Services Platforms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$24.1 bn </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;">4 </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;">Airtel </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;">Telecom Providers </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;">$22.5 bn </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;">5 </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;">State Bank of India </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;">Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$14.4 bn </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;">6 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </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;">Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$12.9 bn </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;">7 </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;">Asian Paints </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;">Paints </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;">$12.8 bn </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;">8 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jio </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;">Telecom Providers </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;">$11.7 bn </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;">9 </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;">Kotak Mahindra Bank </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;">Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$10.3 bn </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;">10 </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;">HCL Tech </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;">Business Technology and Services Platforms </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;">$9.3 bn </td></tr></tbody></table> Source: Kantar Autos zoom ahead Auto brands have been buzzing in 2023 and the sector has provided two of the fastest risers of the year. TVS, valued at $1.9 billion, occupies the 51st rank. The company has gained 59% in value and leapt 24 places thanks to a number of successful product launches and a 10-year partnership with BMW that gives it leverage in markets such as Europe, the US and Canada. Mahindra is valued at $2.01 billion and occupies the 47th rank. Mahindra, which grew its value by 48%, made itself incredibly meaningful in consumers’ eyes, and also significantly boosted its salience. The sector saw the second highest category growth of 19%, after tobacco. Royal Enfield’s value also swelled, thanks to Indians’ preference for premium products. A lot of Indian auto brands, like Tata Motors, also entered EV markets and are able to meet consumer needs better, observes Rana. “Auto companies’ value declined during Covid and made a comeback after they dealt with supply chain issues and dealt with bottlenecks,” said Mohanty. India’s largest auto company Maruti Suzuki, however, shed 5% of its brand value, while Bajaj Auto’s brand value went up by 9%. The value in finance Financial services brands have grown their brand value by 6% with 16 brands and contributing to the biggest chunk of the total brand value. Their growth is attributed to growth in digital banking and Axis Bank whose value swelled 28% and now ranks at 17. ICICI Bank which ranks at no 6 also has seen its brand value swell by 18%. Two of this year’s new entrants also belong to the fintech sector — PhonePe and Cred. This is in spite of the fact that tech as a sector saw its value go down during the year. PhonePe has made its debut on the list at No.21 with a value of $4.4 billion. It has quickly become India’s leading digital payment app by investing heavily in the strength of its infrastructure, building connections with partner banks, and developing a huge network of merchant acceptance points, said Kantar. Meanwhile, Cred has entered at no 48 with a brand value of $2 billion. “Growth of credit and other digital trends are adding to the value of fintechs. There is a need for these services and brands are doing a good job of providing them,” Mohanty tells Business Insider India. PayTM, Zomato, Swiggy, Flipkart, Naukri, Oyo and Nykaa have shed value; while Byju’s hasn’t been included in the list this year. FMCG as a sector has seen its brand value remain stable during the year.

TCS retains No 1 spot as India’s top brand but tech sector takes a hit

<ul><li>Tata Consultancy Services is among the top three <keyword id="7254770" type="UNKNOWN" weightage="20" keywordseo="Most-valued-IT-service-brand">most valued IT service brand</keyword> in the world. </li><li><keyword id="6357150" type="ORGANIZATION" weightage="20" keywordseo="tcs">TCS</keyword> witnessed an increase in brand value by 23% to $12.8 billion. </li><li>With the brand value of $26.3 billion, the first position was grabbed by <keyword id="6370971" type="COMPANY" weightage="20" keywordseo="accenture">Accenture</keyword>. </li></ul> 2018 proved to be a remarkable year for one of India’s largest IT services conglomerate Tata Consultancy Services (TCS). After reaching $100 billion in market capitalisation, it is now ranked as the third most-valued IT service brand in the world for 2018-19 according to a report by <a href="http://brandfinance.com/knowledge-centre/reports/brand-finance-global-500-2019/">Brand Finance</a>. TCS witnessed an increase in brand value by 23% to $12.8 billion in that period, said the report. Accenture clinched the top spot by becoming the world’s most valuable IT brand with a brand value of $26.3 billion whereas IBM was ranked second in the global list with $20.4 billion. Apart from TCS, three other IT service companies— <keyword id="6354512" type="DOMAIN" weightage="20" keywordseo="Infosys">Infosys</keyword>, HCL and Wipro -- were able to enter the top 10 global list of most value IT service brands. TCS also emerged a leader in the Japanese market, thanks to “all-round customer experience” and use of artificial intelligence and robotic automatics in its transformation programmes. Wipro's investments in digital transformation capabilities, niche acquisitions, and a recent brand refresh, have made it the third fastest-growing brand in the IT sector, said the report. See also: <a href="https://www.businessinsider.in/facebook-is-reportedly-bringing-in-local-it-firms-to-moderate-fake-news-in-india/articleshow/67344852.cms">Facebook is reportedly bringing in local IT firms to moderate fake news in India</a> <a href="https://www.businessinsider.in/can-nilekani-the-architect-of-the-worlds-largest-biometric-project-spark-digital-payments-in-india/articleshow/67439834.cms">Can Nilekani, the architect of the world’s largest biometric project, spark digital payments in India?</a> <a href="https://www.businessinsider.in/xiaomi-apple-samsung-will-fight-over-india-as-china-sales-slump/articleshow/67488525.cms">Here's why Apple’s problem that began in China may spill over to India too</a>

TCS is now the world’s third most valued IT service brand

<ul><li>IT giants — Tech Mahindra and Wipro — are the only Indian companies after Dr. Reddy Laboratories to make it to in the Bloomberg Gender Equality Index (GEI). </li><li>The GEI index is based on five parameters — female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies, and a pro-women brand. </li><li>This includes parental leaves, lactation rooms at the workplace and education programmes dedicated to women. </li><li>According to the <keyword id="69007" type="ORGANIZATION" weightage="20" keywordseo="World-Economic-Forum">World Economic Forum</keyword> Gender Gap Report, it will take 257 years to eliminate the prevailing gap on women participation in the workforce, globally.</li></ul>Homegrown IT giants — Tech Mahindra and Wipro — are the only Indian companies after Dr. Reddy Laboratories to make to the Bloomberg Gender Equality Index (GEI). The pharma multinational retained its spot for three consecutive years. The GEI index is based on five parameters — female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies, and creating a pro-women brand. The report tracked companies based on their market cap and efforts to support and implement gender equality via policy development, representation, and transparency. Tech Mahindra and Wipro made their debut for the first time this year. “At Tech Mahindra, we value individual differences and focus on providing equal opportunities to all our associates. For us, diversity of every kind is a priority, whether it is diversity of nationality, age, gender, thoughts, or abilities, and our constant endeavour is to build a workplace that is ‘intentionally’ diverse,” said Harshvendra Soin, chief people officer at Tech Mahindra. The companies are also ranked based on parental leaves, lactation rooms at the workplace and STEM (Science, Technology, Engineering, Mathematics) education programmes which are dedicated to women. “We celebrate and learn from diverse ideas, backgrounds, perspectives and experiences. The essence of co-creating and being guided by our values, defines inclusion and diversity at Wipro,” said Abidali Z. Neemuchwala, CEO and MD of Wipro. The report also highlights that the companies that have women in the boardroom and as CEOs also have more women at the senior management level. “Female-led organizations also had more women in the top 10% of compensation than male-led firms, and more women in revenue-producing roles,” the report said. India has a long way to go before they attain gender parity. According to the <a href="https://www.weforum.org/reports/gender-gap-2020-report-100-years-pay-equality">World Economic Forum Gender Gap Report</a>, it will take 257 years to eliminate the prevailing gender gap in the workforce, globally. India ranks 112th in the Global Gender Gap Index in 2020. In fact, the International Labour Organisation (ILO) says that women around the globe work for a combined 12.5 billion hours for free. The Bloomberg report includes over 6,000 companies across 84 countries. Of this, the 325 companies featured in the index have a market capitalization of $12 trillion. See also: <a href="https://www.businessinsider.in/careers/news/iits-and-nits-will-now-be-ranked-on-how-many-women-they-educate-and-employ/articleshow/73296855.cms">IITs and NITs will now be ranked on how many women they educate and employ</a> <a href="https://www.businessinsider.in/policy/foreign-policy/news/uns-list-of-top-10-countries-with-gender-equality-is-empty/articleshow/72123061.cms">Which country can achieve gender equality by 2030 ? The answer is none, UN laments</a> <a href="https://www.businessinsider.in/careers/news/top-jobs-for-women-in-india-as-employability-rises-9-in-2-years/articleshow/72487187.cms">The number of employable Indian women has sharply risen in the last two years⁠— and it is nearly at par with men</a>

Tech Mahindra, Wipro and Dr Reddy’s Labs — only 3 Indian companies made it to Bloomberg Gender Equality Index

<ul><li>While the demand for IT services companies remains robust with the evolving digital environment, high attrition rates remain a top concern for IT firms.</li><li><keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword>, <keyword id="6354512" type="General" weightage="20" keywordseo="infosys" source="Orion">Infosys</keyword> and <keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword> will together hire 1.53 lakh employees in FY22 to hedge against employees leaving.</li><li>Wipro’s attrition rate remains highest at 20.5% followed by Infosys at 20.1% and TCS at 11.9%.</li></ul>While the demand for information technology (IT) services companies remains robust with the evolving digital environment, a huge number of employees leaving these organisations remain a top concern for IT firms. Attrition rate of IT companies has been rising consistently and in-line with growing demand for digital talent. With the earnings results available so far for the September quarter, Wipro has the highest attrition rate, among IT firms, at 20.5% followed by Infosys at 20.1% and <keyword id="6357585" type="General" weightage="20" keywordseo="tata-consultancy-services" source="Orion">Tata Consultancy Services</keyword> (TCS) at 11.9%. <div type="image" title="attrition chart" height="900" width="1200" msid="87013677" hostid="261"></div> However, a report by human resource solutions firm TeamLease shows that the average attrition rate in the IT industry was at 8.67% in September quarter, far less than what the big IT firms have reported. One of the key concerns of IT employees for leaving an organisation is muted growth in increments followed by poor employee benefits, rewards, digital skilling and so on, shows a ‘compensation benchmarking survey’ by Deloitte India and software firms’ lobby NASSCOM. The average increments for the technology services sector in India dropped from 9.5% in 2019 to 5.2% in 2020, which later increased to 8.8% in 2021 due to higher attrition rate. Average increments are expected to go up to 9% to 11% in 2022, said the report. <div type="image" title="compensation" height="900" width="1200" msid="87013730" hostid="261"></div> IT companies are all set to hire in bulk from campuses as they struggle to retain employees with the increasing demand for digital talent. TCS, which has already hired 43,000 freshers in the first half of FY22, expects to hire another 35,000 in the next six months. This takes up the total count of FY22 to 78,000 new employees. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IT companies </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY22 hiring </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">45,000 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">30,000 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">78,000 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> “We believe this attrition level will continue for the next 2-3 quarters. Having said that, our strong employer brand and our robust talent acquisition and talent development models will help us significantly overcome the supply side issues…We will continue to hire more and more and keep the supply ready since our model is robust. The attrition level is definitely concerning, but we can manage through that,” said Milind Lakkad, global head of human resources at TCS, in a press conference post earnings. High attrition rate in some of the largest IT companies in the country is expected to continue for the coming quarters and so is the huge hiring process. “In order to harness the full potential of the market opportunity, we are expanding our college graduates hiring program to close to 45,000 for the year. Simultaneously, we continue to strengthen employee value propositions including health and wellness measures, reskilling programs, appropriate compensation interventions and enhanced career growth opportunities,” said Pravin Rao, chief operating officer at Infosys. TCS is one of the biggest employers in the country with 5.28 lakh employees as of September quarter. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Total headcount </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.28 lakh </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.79 lakh </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.21 lakh </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>At 11:12 a.m., on October 14, shares of Wipro were up 7%, Infosys stock was up 2% and TCS stock was down by 0.8%. ALSO WATCH: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/videos/talent-from-large-it-firms-has-been-flowing-towards-indias-tech-startups/videoshow/87014361.cms">Talent from large IT firms has been flowing towards India's tech startups</a> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/three-unicorns-hundreds-of-crore-in-loss-and-very-little-market-share-whats-the-hype-around-online-car-retailers/articleshow/87012417.cms">Three unicorns, hundreds of crore in loss and very little market share — What's the hype around online car retailers?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/infosys-wipro-vodafone-idea-and-other-hot-stocks-in-focus-on-october-14-as-results-season-heats-up/slidelist/87010496.cms">Infosys, Wipro, Vodafone Idea and other hot stocks in focus on October 14 as results season heats up</a>

India’s techies are leaving IT firms in hordes — Here’s why

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Business InsiderHenry Blodget, the founder and CEO of Business Insider, at IGNITION.</div></div></div>Marketing professionals across the board are facing an unprecedented moment.Never before have brand specialists and advertisers had access to such monumental amounts of data as well as insights and metrics from artificial intelligence platforms.The challenge is figuring out how to optimize the data and tools at their fingertips in ways that speak to their companies' audiences and values.Social <keyword id="6354777" type="COMPANY" weightage="60" keywordseo="Media">media</keyword> adds a layer of complexity, as Snapchat, Twitter, Facebook, and Instagram reinvent the ways consumers interact with their brands.In light of these ever-increasing challenges and opportunities, this year's IGNITION conference marks the launch of the Marketing Pillar, a dedicated intensive programming block that lets attendees take a deep dive with the best and brightest in marketing and <keyword id="35666" type="COMPANY" weightage="60" keywordseo="advertising">advertising</keyword> - from financial services, entertainment, communications, retail, social platforms, and more.Pinterest President Tim Kendall and Kristin Lemkau, CMO of JPMorgan Chase, make for an unexpected dynamic duo. Kendall crafts the advertising and marketing strategy for a budding platform with a young audience, while Lemkau is crafting a fresh identity for a blue-chip company looking to reach an audience that looks more like Kendall's.GE CMO Linda Boff, who just won Adweek's 2017 Grand Brand Genius award, will share the stage with Anda Gansca, CEO and cofounder of marketing intelligence platform Knotch, to discuss the ways real-time insights, transparency, and creativity can revolutionize brand strategy.Denise Karkos, CMO of TD Ameritrade and another Adweek Brand Genius winner (for financial services, in 2016), will take the stage to share how she managed to successfully marry data and creative to invigorate the staid industry.Marketing Pillar speakers include:<ul><li>Linda Boff, CMO, GE</li><li>Steve Carlin, chief strategy officer, Softbank Robotics America</li><li>Fiona Carter, chief brand officer, AT&amp;T</li><li>Seth Dallaire, VP of global advertising, Amazon</li><li>Nick Drake, EVP, marketing and experience, T-Mobile</li><li>Anda Gansca, CEO and cofounder, Knotch</li><li>Denise Karkos, CMO, TD Ameritrade</li><li>Tim Kendall, president, Pinterest</li><li>Kristin Lemkau, CMO, JPMorgan Chase</li><li>Naveen Rajdev, CMO, Wipro</li><li>Mark Read, Global CMO, Wunderman</li><li>Kellyn Smith Kenny, VP of Marketing, Uber</li><li>Karin Timpone, CMO, Marriott International</li></ul>Business Insider's IGNITION 2017 is happening November 29-30 at the Time Warner Center in New York City. Head over to <a href="http://events.businessinsider.com/">IGNITION</a> to register today. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/excel-index-match-versus-vlookup-masters-find-data-2015-9">This is what separates the Excel masters from the wannabes</a></h3> <div> </div> </div>

The future of marketing is now - hear how top brand professionals are optimizing data and AI to stay on top

<keyword id="10475830" type="UNKNOWN" weightage="20" keywordseo="smartphone-brand-oppo">Smartphone brand OPPO</keyword> on Friday said it is now manufacturing one smartphone every three seconds at its 110-acre facility in <keyword id="18858" type="LOCATION" weightage="20" keywordseo="Noida">Noida</keyword>. The company said that to ensure seamless supply chain, the factory stocks materials for over 1.2 million phones at any given point. "With growing popularity of <keyword id="1731609" type="COMPANY" weightage="20" keywordseo="Oppo">OPPO</keyword> smartphones, we will be further building up on our manufacturing capabilities to meet the rising demand. Agility, innovativeness and creativity will be the key to success for <keyword id="2034172" type="COMPANY" weightage="20" keywordseo="Oppo-India">OPPO India</keyword>," said Elvis Zhou, President, OPPO <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>. With over 10,000-strong <keyword id="52626" type="CITY" weightage="20" keywordseo="workforce">workforce</keyword>, the factory produces more than 60 lakh phones a month during peak seasons. The facility is divided into four sections including assembly, SMT (Surface Mount Technology), storage and supply warehouse. The super-machines at the SMT section can hold 37,000 micro components per hour, adding on to the production efficiency. "No matter how complex a PCB is, through the advanced technology the team can complete one Printed Circuit Board Assembly or PCBA in 6.25 seconds," the company said. The manufacturing unit has 52 rows with 37 assembly stations and 20 test stations and can dispatch hundreds of micro-parts for 200 smartphones in under 10 minutes. "The integration of high-end technology and human workforce with high level of expertise, creative and cognitive skills is enabling us to produce the most loved OPPO smartphones," Zhou said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/wipro-share-price-jumps-over-1-after-117-million-acquisition-of-australian-cybersecurity-firm-ampion/articleshow/81817928.cms">Wipro's share price jumps over 1% after $117 million acquisition of Australian cybersecurity firm Ampion</a> <a href="https://www.businessinsider.in/finance/news/upi-crosses-5-lakh-crore-in-transaction-value-in-march/articleshow/81820799.cms">India’s digital payments soar – UPI crosses ₹5 lakh crore in transaction value in March</a> <a href="https://www.businessinsider.in/india/news/west-bengal-is-the-highest-contributor-to-small-savings-schemes/articleshow/81825902.cms">West Bengal is the highest contributor to small savings schemes – with elections underway, it could have been a trigger for the government to roll back interest rate cuts</a>

OPPO now manufactures one smartphone in three seconds in India

<ul><li>The brains behind two of the leading luxury brands in India — <keyword id="8264" type="COMPANY" weightage="20" keywordseo="Sabyasachi">Sabyasachi</keyword> Mukherji and <keyword id="616604" type="PERSON" weightage="20" keywordseo="Prithvi-Raj-Singh-Oberoi">Prithvi Raj Singh Oberoi</keyword> — believe that one needs to be a perfectionist to succeed.</li><li>From being particular about how eggs are served to slashing up garments so that they never reach the edit table, Mukherjee and Oberoi share some of their quirks at the BI Global Trends Festival 2020. </li><li>Sabyasachi even kept his flagship store, located at the heart of Mumbai, shut for 25 days because he couldn’t find the right incense. </li></ul>Luxury brands in India are few and far between. However, the secret sauce to success seems to be quirky perfectionism for the few that lead in the limelight. At the Global Trends Festival 2020, co-founder of Juggernaut Books’ Chiki Sarkar spoke with the brains behind two of India’s leading luxury brands — <keyword id="7202" type="PERSON" weightage="20" keywordseo="Sabyasachi-Mukherjee">Sabyasachi Mukherjee</keyword> from the world of fashion and the executive chairman of the Oberoi Group, Prithvi Raj Singh Oberoi — to find out what makes them tick. <div type="twitter" handle="BiIndia" handlename="Business Insider India🇮🇳" image="http://pbs.twimg.com/profile_images/1232926719016718336/sfffJHNV_normal.jpg" favoritecount="1" retweetcount="2" status="#WATCH | @sabya_mukherjee on what it takes to be a perfectionist.@awscloud presents the Business Insider Global T… https://t.co/wPsTbiiQwA" createdat="1603198510000" id="1318536235170684929"></div> Oberoi is obsessed with the way eggs are served at his hotels Prithvi Raj Singh Oberoi travelled the world for nearly a decade before taking over the legacy of Oberoi chain of hotels in India. And he is known for redefining luxury in the hospitality industry. One of the reasons behind this success is him being a perfectionist — this includes being hands-on with even the tiniest of details, like the way eggs are served to the guests at his hotels. “I consider myself to be a very fussy guest. If I don’t get the best, that means people who are our guests aren’t getting the best,” he explained. The story goes that when Oberoi is visiting his hotels, he orders eggs off the menu to check the colour of the yolk. It can't be just any shade of yellow. It has to be a particular shade of deep yellow, which he likes to call 'sunrise yellow'. If it's not, he is likely to reject the entire batch. “No, it’s true. I always tell our people that the devil is in the details,” Oberoi told Sarkar when asked whether the ‘egg story’ was just an urban legend. <div type="twitter" handle="BiIndia" handlename="Business Insider India🇮🇳" image="http://pbs.twimg.com/profile_images/1232926719016718336/sfffJHNV_normal.jpg" favoritecount="0" retweetcount="0" status="#BIGTF2020 | &quot;The word luxury has been misused by many&quot;: Prithviraj Singh Oberoi, @OberoiHotels.He is now LIVE at… https://t.co/H7o6IIqknD" createdat="1603197858000" id="1318533501658963970"></div> Sabyasachi is the ‘real’ devil of the fashion industry One would consider watching the Devil Wears Prada with your staff a pretty chill move for any boss. And, when Sabyasachi did the same with his assistants — they giggled throughout the screening. Not at the whimsical clumsiness of Anne Hathaway as Meryl Streep dominates the office, but because the ‘real’ devil was sitting next to them. “I keep telling all my staff that my job is not to give them medals for things that they’ve done right, but to point out where they’ve done things wrong,” Mukherjee explained. “When you’re in a competitive business… All the good things that you do are taken for granted and all the things you have not been able to do, people remember.” Sabyasachi kept his store closed for 25 days because he couldn’t find the right incense Opening a store in Mumbai isn’t cheap, especially in the heart of the city’s art district — Kala Godha. Yet, Sabyasachi kept his flagship store close for 25 days because he couldn’t find the right incense. “It’s not just an incense, it’s a memory,” said Mukherjee. He explains that customers still come back to the store and when they smell it, they say, “This is the Sabyasachi that we remember.” Sabyasachi cuts up garments so that can’t get to the edit table In the strive for perfection, Sabyasachi sits with a pair of scissors ahead of any collection launch. Not for last-minute edits, but to cut up any garment that isn’t fit to reach the edit table. “If I don’t see value in what I’m creating, it never makes it to the shelves,” said Mukherjee. According to him, luxury brands don’t have customers — they have fans, which is why you have to give them value. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/amazon-ai-executive-explains-three-things-every-business-needs-to-address-before-using-machine-learning/articleshow/78769249.cms">EXCLUSIVE: Amazon AI executive explains three things every business needs to address before using machine learning</a> <a href="https://www.businessinsider.in/science/space/news/nokia-is-set-to-build-the-first-4g-network-on-the-moon-for-nasa-it-will-eventually-be-upgraded-to-5g/articleshow/78763251.cms">Nokia is set to build the first 4G network on the Moon for NASA — it will eventually be upgraded to 5G</a> <a href="https://www.businessinsider.in/science/space/news/the-moon-photobombed-nasas-view-of-the-sun/articleshow/78762020.cms">The Moon photobombs NASA's view of the Sun</a> <a href="https://www.businessinsider.in/business/corporates/news/wipro-wins-five-year-contract-with-europes-third-largest-producer-of-clean-electricity/articleshow/78761079.cms">Wipro wins five-year contract with Europe’s third-largest producer of clean electricity</a>

Luxury icons Sabyasachi and Oberoi open up about their 'perfectionist quirks' like checking the colour of egg yolks and slashing clothes so they can’t hit the edit table

​The growing proficiency of Indian technology companies in building innovative products is drawing a great deal of attention from global corporations eager to acquire fresh ideas and skilled workers. 
 
Applications that help ease online payments, offer security for data stored on multiple devices as well as those that help drive greater advertising revenue on mobile devices are some of the technologies on the shopping list of multinationals scouting for the right startup. In the next five years, experts say at least 40 technology ventures in India could be bought over by large corporations. 
 “Couple of them (startups) will be valued at over $1 billion (Rs 6,200 crore),” said Ravi Gururaj, an angel investor who heads the software product council at industry lobby <keyword id="6372077" type="CITY" weightage="60" keywordseo="Nasscom">Nasscom</keyword>. He expects about half a dozen technology ventures to be valued at around $500 million (Rs 3,100 crore) while <keyword id="818790" type="UNKNOWN" weightage="40" keywordseo="the-rest">the rest</keyword> will likely fetch a price of between $15 million (Rs 93 crore) and $50 million (Rs 311 crore). 
 A handful of such acquisitions has already set the ball rolling. Last November, Japanese engineering and electronics maker <keyword id="69870" type="CITY" weightage="40" keywordseo="Hitachi">Hitachi</keyword> acquired Prizm Payment Services, in a deal estimated at $250 million (Rs 1,547 crore). In mid 2013, South African media conglomerate Naspers bought online bus ticketing firm red-Bus for about $100 million (Rs 618 crore), giving it access to not only the large <keyword id="47445" type="UNKNOWN" weightage="40" keywordseo="Indian-market">Indian market</keyword> but disruptive technology as well. 
 “Multinational companies primarily look for talent and <keyword id="388837" type="UNKNOWN" weightage="40" keywordseo="intellectual-property">intellectual property</keyword> that can compete at global level,” said Prashant Gupta, group manager at Microsoft India (R&amp;D). “There are early signs in India that such companies are emerging that can meet these demands, especially in cloud-driven application lifecycle and big data,” he said. 
 
The global software maker runs an accelerator programme in India for technology startups that has graduated 22 ventures so far and is poised to make its first venture investment this year. 
 Interest from <keyword id="6355311" type="COUNTRY" weightage="40" keywordseo="Japan">Japan</keyword>ese corporations too is growing. Apart from the Hitachi deal, others such as NTT too have been active buyers. In 2012 Japan’s <keyword id="913532" type="ORGANIZATION" weightage="40" keywordseo="NTT-Communications">NTT Communications</keyword> bought a majority stake in technology firm <keyword id="423557" type="COMPANY" weightage="40" keywordseo="Netmagic">Netmagic</keyword> for about Rs 900 crore. “India is becoming the laboratory for products and services for the world,” said Krishnan Ganesh, <keyword id="36740" type="POSITION" weightage="40" keywordseo="founder">founder</keyword> of online tutoring company TutorVista that was bought by the UK’s <keyword id="152222" type="CITY" weightage="40" keywordseo="Pearson">Pearson</keyword> group at an enterprise value of about Rs 1,000 crore. 
 
After the acquisition, the number of students using the services of TutorVista has tripled to four million across both the local and the US market. Pearson now aims to replicate the TutorVista model in emerging markets such as Brazil, China and South Africa. 
 
In 2013, there were 100 merger and acquisition deals across the India’s information technology industry. Of this, 31 whose value was announced were worth $1,906 million (Rs 11,807 crore), according to research firm Venture Intelligence. 
 The trigger for this growing M&amp;A activity is the range of disruptive technology startups emerging out of India. Companies such as advertising network InMobi, data analytics company Mu Sigma and online retailer <keyword id="6354742" type="COMPANY" weightage="40" keywordseo="Flipkart">Flipkart</keyword> have achieved a scale where they are valued at over $1 billion. “This is driven by leading-edge globally competitive technologies,” said Naren Gupta cofounder and managing director of Nexus Venture Partners, an early investor in Netmagic and online retailer <keyword id="541988" type="COMPANY" weightage="40" keywordseo="SnapDeal">Snapdeal</keyword>. 
 For instance, Pune-based <keyword id="741520" type="COMPANY" weightage="40" keywordseo="Druva">Druva</keyword> provides data security and retrieval software to customers such as US space agency <keyword id="6360409" type="ORGANIZATION" weightage="40" keywordseo="NASA">Nasa</keyword>, drug maker <keyword id="44612" type="CITY" weightage="40" keywordseo="Pfizer">Pfizer</keyword> and fashion brand <keyword id="5940" type="PERSON" weightage="40" keywordseo="Louis-Vuitton">Louis Vuitton</keyword>. 
<div style="page-break-after: always;">
	&#xa0;</div> In Chennai, Perfint Healthcare has developed robots that treat cancer by precisely inserting a needle in the affected area to burn or freeze a patient’s tumour, leaving the good tissue alone. The founders, all former employees of <keyword id="166456" type="COMPANY" weightage="40" keywordseo="GE-Healthcare">GE Healthcare</keyword>, quit to launch the firm when they realised the demand for such a product. For global corporations acquiring such game-changing technologies can help them enter new markets and raise barriers against competition. 
 Two years ago, when global software maker <keyword id="183292" type="CITY" weightage="40" keywordseo="Red-Hat">Red Hat</keyword> bought Bangalore-based <keyword id="6373689" type="ORGANIZATION" weightage="40" keywordseo="Cloud-computing">cloud computing</keyword> startup <keyword id="724826" type="COMPANY" weightage="40" keywordseo="Gluster">Gluster</keyword> for around Rs 667 crore, it acquired a storage platform technology which it offered to its customers for the first time. The cost of technology infrastructure to set up such ventures and scale them up for acquisitions has also come down drastically. 
 “A bunch of guys can now launch an application from a garage, keep the tablet or a mobile phone as the front end and the product becomes viral in few weeks,” said Anand Babu Periasamy, cofounder of Gluster. A computer <keyword id="6369183" type="POSITION" weightage="40" keywordseo="Engineer">engineer</keyword> graduate from <keyword id="119675" type="ORGANIZATION" weightage="40" keywordseo="annamalai-university">Annamalai University</keyword>, Periasamy who now works at Red Hat is aiming to build Gluster into a billion dollar business unit. 
 
Experts hope small-size technology ventures in India will also attract the attention of larger firms. “Smaller exits are the life blood for healthy startup ecosystems like in <keyword id="6355882" type="COUNTRY" weightage="40" keywordseo="israel">Israel</keyword> and US,” said Sharad Sharma co founder of software product think-tank iSpirt. Sharma is running an active M&amp;A Connect Program at iSpirt that is curating a list of several dozen companies. 
 Some of those on the radar are retail services software maker Capillary Technologies, healthcare applications provider <keyword id="1165142" type="UNKNOWN" weightage="40" keywordseo="Practo">Practo</keyword> and security software maker <keyword id="171228" type="COMPANY" weightage="40" keywordseo="Quick-Heal">Quick Heal</keyword>. According to Sharma, many of them have shown healthy growth traction and are attractive for strategic partnerships. 
 Sharma of iSpirt is of the view that a larger proportion of bootstrapped companies is stymieing merger activity in India. “It is harder for large corporations when there is no validation from <keyword id="6357097" type="COMPANY" weightage="40" keywordseo="venture-capital">venture capital</keyword> firms,” he said. 
 The other major problem say experts is that large Indian firms such as Infosys, <keyword id="10862" type="CITY" weightage="40" keywordseo="Wipro">Wipro</keyword> and <keyword id="6357150" type="CITY" weightage="40" keywordseo="TCS">TCS</keyword> have shied away from making any such purchases, despite having huge cash reserves. Infosys has $4 billion (Rs 24,000 crore) cash reserves. 
 
“When Wipro can be in soaps and vegetable oil, why can’t they be in the Flipkarts of the world,” said Ganesh of TutorVista. “They are sitting on a huge cash reserve and not a fraction has been spent on startups. That mentality is not there.” 
 
“Over the next five years, I expect that quantity will dramatically improve and we can be optimistic about merger and acquisition activity out of India,” said Nasscom’s Gururaj.

Indian startups' global competitiveness and innovation make them acquisition targets

<ul><li>Pharmacy retail chain <keyword id="11881163" type="UNKNOWN" weightage="20" keywordseo="medplus-healthcare-services">Medplus Healthcare Services</keyword> filed a draft red herring prospectus (DRHP) with SEBI to raise ₹1,639 crore through IPO.</li><li>The company offers both offline and online sales of pharmaceutical products through website and mobile application.</li><li>The company offers a wide range of products, including pharmaceutical and wellness products and fast-moving consumer goods.</li><li>Azim Premji’s PI Opportunities Fund is among promoters in the company selling its shares through the IPO.</li></ul>Hyderabad-based pharmacy retail chain Medplus Healthcare Services has filed the draft red herring prospectus (DRHP) with India’s market regulator to raise ₹1,639 crore through an initial public offering (IPO). The offer comprises ₹600 crore of fresh issue and an offer for sale (OFS) of ₹1,039 crore by existing promoters. Promoter Lone Furrow Investments will sell equity shares worth ₹450 crore through the IPO issue followed by ₹500 crore by PI Opportunities fund, which is an affiliate of PremjiInvest. PremjiInvest is the family office of billionaire Azim Premji, chairman of Wipro. The company sells a wide range of products, including pharmaceutical and wellness products -- medicines, vitamins, medical devices and test kits, and fast-moving consumer goods -- home and personal care products, toiletries, baby care products, soaps and detergents, and sanitisers. The 15-year-old company was founded by Gangadi Madhukar Reddy, managing director and chief executive officer, with the vision “to set up a trusted pharmacy retail brand that offers genuine medicines and delivers better value to the customer by reducing inefficiencies in the supply chain using technology,” the company said in its DRHP filing. It has grown from operating 48 stores in Hyderabad to now operating a retail network of over 2,000 stores across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal and Maharashtra, as of March, 2021. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Profit </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹2284 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹63 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹2887 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1.79 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹3090 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹11.92 crore </td></tr></tbody></table> The company offers both offline and online sales of pharmaceutical products through website and mobile application. Medplus Healthcare Services intends to use ₹467 crore from the IPO proceeds for working capital requirements of its subsidiary Optival Health Solutions and the rest for general corporate purposes. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/e-commerce/news/walmart-to-prioritise-flipkarts-diwali-sale-big-billion-days/articleshow/85418923.cms">Walmart to prioritise Flipkart’s Diwali sale ‘Big Billion Days’</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/shares-of-apollo-hospitals-have-surged-178-in-the-last-one-year-and-103-so-far-in-2021/articleshow/85398007.cms">Apollo Hospitals gives multibagger returns in last one year on growth in pharmacy business, vaccination revenue</a>

Medplus Healthcare Services looks to raise ₹1,639 crore via IPO

<ul><li>The founders expect ‘manifold growth’ in the coming years and therefore are in the search for the right talent.</li><li>The current vacancies are in research and technical sales.</li><li>Rossari Biotech is setting up another manufacturing facility at Dahej in Gujarat with a proposed capacity of <a href="https://www.bloombergquint.com/ipos/rossari-biotech-ipo-heres-all-you-need-to-know">132 billion tonnes</a> per annum. </li></ul>The Mumbai-based speciality chemical maker Rossari Biotech is looking to hire more people as it expands its business post the initial public offering (IPO). For the uninitiated, this is a company that makes popular household products like Vim, Rin, and Surf for the brand owners like Hindustan Unilever, Dabur, and many more to name a few. According to <a href="https://www.businessinsider.in/stock-market/markets/news/rossari-biotech-ipo-analysis-and-comparison-with-camlin-fine-srf-and-clariant/articleshow/76953016.cms">analysts, the 23-year old company ⁠— which competes with the likes of BASF and Dow Chemicals ⁠— is poised for strong growth</a>. “We are a growing manifold, the need for our company is at the peak. We need human resources. So this is going to be a big focus for our company in future,” Sunil Chari Managing Director and Co-Founder at <a href="https://www.facebook.com/BusinessInsiderIndia/videos/286494852795378">Rossari Biotech told Business Insider.</a> Chari revealed that the company has an average salary package of more than ₹10 lakh, which is better in comparison to its peers. “It is mostly a knowledgeable workforce,” he said. According to him, at this moment, the company is looking for people in research and technical sales. “But, we will require people in HR. We will require people in the admin. We will require people in the factory. It will be a basket of posts,” he added. He said the company is cautious towards the capital at this moment and will hire every quarter based on its performance. “In this quarter we have plans of hiring some people. But the next quarter coming it depends on the growth,” he said. “In the last 3 months, we would have taken at least 15 people in the personal care segment at Dahej. We are one of the few people recruiting in these times. We see a good quarter. We see good growth for the entire industry this year. So, we are bullish on hiring,” he added. Currently, Rossari Biotech manufactures a majority of its products in its manufacturing facility at Silvassa. It is also setting up another manufacturing facility at Dahej in Gujarat with a proposed capacity of <a href="https://www.bloombergquint.com/ipos/rossari-biotech-ipo-heres-all-you-need-to-know">132 billion tonnes per annum</a>. Rossari Biotech’s ₹496 crore initial public offering has been subscribed nearly three times on Day 2 of the bidding process. The bidding will remain open till end of day (July 15) with a fixed price band of ₹423-425 per equity share. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/barbecue-nation-ipo-must-be-priced-the-same-way-as-its-menuvalue-for-money/articleshow/76961459.cms" data-type="tilCustomLink">Barbeque Nation IPO must be priced the same way as its menu—value for money</a> <a href="https://www.businessinsider.in/stock-market/news/wipro-share-price-16-increase-leads-to-surge-in-infosys-share-price-too/articleshow/76973619.cms" data-type="tilCustomLink">Wipro share price 16% increase leads to surge in Infosys share price too</a> <a href="https://www.businessinsider.in/stock-market/markets/news/rossari-biotech-ipo-analysis-and-comparison-with-camlin-fine-srf-and-clariant/articleshow/76953016.cms" data-type="tilCustomLink">Rossari Biotech IPO⁠— 40 scientists, China, and other factors that make the share sale hot</a>

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