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About 7% workforce growth expected in October-March FY25 driven by logistics, ecommerce: report

Economic Times

Economic Times · 11m ago

About 7% workforce growth expected in October-March FY25 driven by logistics, ecommerce: report

India's employment landscape is expected to see a 7.1% workforce growth during October 2024 to March 2025, driven by sectors like logistics, e-commerce, and manufacturing. This growth is fueled by investments in infrastructure and technology advancements. Furthermore, cities like Coimbatore and Gurugram are becoming new job hubs, indicating a decentralization of employment opportunities. Economic initiatives such as global capability centers, national industrial corridors, and the semiconductor mission are also contributing to workforce expansion. Companies are increasingly adopting flexible staffing models and digital skill sets to stay competitive.

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India to be world's third-largest economy by 2030 -S&P Global Ratings

Reuters · 1y ago

India to be world's third-largest economy by 2030 -S&P Global Ratings

India is expected to be the world's third-largest economy by 2030, according to a report by S&P Global Ratings. It is projected to remain the fastest-growing major economy for the next three years, with a growth rate of 6.4% this fiscal year and an estimated 7% growth by 2027. The report emphasizes the need for India to transition to a manufacturing-dominated economy, develop a strong logistics framework, and increase worker upskilling and female workforce participation for sustained growth.

Ecommerce, tech startups redefining policies to stay flexible: TeamLease Services

Economic Times

Economic Times · 10m ago

Ecommerce, tech startups redefining policies to stay flexible: TeamLease Services

Ecommerce and tech startups are adopting hybrid staffing models and utilizing technology to stay flexible and adaptable to market demands, according to a report from TeamLease Services. The report also highlights the importance of talent retention, inclusion, and upskilling for sustained growth and innovation. The ecommerce sector is leading the way in leveraging hybrid staffing to address operational complexities and scalability. Ecommerce and tech startups are driving growth with plans for workforce expansions, driven by advancements in AI and the adoption of direct-to-consumer models. AI is playing a crucial role in optimizing supply chains, enhancing customer experiences, and driving demand for specialized roles like full-stack engineers and cloud architects.

Lowering Logistics Cost Can Help Increase Ecommerce Penetration In India: Flipkart CEO

Inc42 · 1y ago

Lowering Logistics Cost Can Help Increase Ecommerce Penetration In India: Flipkart CEO

Flipkart CEO Kalyan Krishnamurthy believes that solving the cost structure of logistics is a major challenge for India's ecommerce sector. Lowering logistics costs could enhance ecommerce penetration, which currently stands at 7-8% of India's retail market. Krishnamurthy also credited the Indian government's focus on tax simplification and ease of doing business for the sector's growth. Despite ongoing losses, Flipkart is reportedly approaching profitability due to reduced cash burn.

Vroom to shut its ecommerce operations, cut nearly 90% of jobs

Economic Times

Economic Times · 1y ago

Vroom to shut its ecommerce operations, cut nearly 90% of jobs

Vroom, a US-based ecommerce platform for used vehicles, has announced the discontinuation of its ecommerce operations and a winding down of its used vehicle dealership business to preserve liquidity. Approximately 800 employees, accounting for about 90% of the workforce, are expected to be laid off. The company plans to sell its current used vehicle inventory through wholesale channels while halting purchases of additional vehicles. The Value Maximisation Plan is anticipated to be implemented by March 31, 2024, with United Auto Credit Corporation and CarStory operating independently.

AI-driven transformation to augment 50% of Asia-Pacific workforce by 2025: report

Economic Times

Economic Times · 1y ago

AI-driven transformation to augment 50% of Asia-Pacific workforce by 2025: report

According to a report, AI-driven transformation is expected to enhance the capabilities of 50% of the Asia-Pacific workforce by 2025. This transformation will involve upskilling the workforce, leveraging automation, and integrating AI technologies into various industries. The report suggests that AI will create new job roles while also augmenting existing ones, rather than replacing human labor altogether.

Unicorn Pristyn Care lays off 120 employees to become profitable

Inshorts · 1y ago

Unicorn Pristyn Care lays off 120 employees to become profitable

Indian healthtech unicorn Pristyn Care has laid off approximately 120 employees, or about 7% of its total workforce. The development is part of the startup's broader strategy to achieve profitability by FY25 and prepare for an IPO by 2027. The layoffs affect mainly entry-level and support function roles.

Policybazaar parent records 5.5X growth in net profit in FY25 as insurance premiums rise

YourStory

YourStory · 5m ago

Policybazaar parent records 5.5X growth in net profit in FY25 as insurance premiums rise

PB Fintech, parent company of Policybazaar, saw a 38% year-on-year increase in Q4 FY25 revenue, reaching Rs 1,508 crore, with insurance revenue up 46%. Insurance premiums grew 37% YoY to Rs 7,030 crore, driven by new health policies. The annual profit after tax jumped 5.5 times to Rs 353 crore, with a PAT margin of 7%. FY25 operating revenue increased 45% to Rs 4,977 crore, maintaining about 40% growth over the past eight quarters.

National Technology Day: India targets $500 billion revenue from tech industry by 2030

Economic Times

Economic Times · 5m ago

National Technology Day: India targets $500 billion revenue from tech industry by 2030

India’s technology sector aims to achieve $500 billion in revenue by 2030, propelled by strategic investments in AI, cloud, and cybersecurity. With a workforce expected to reach 5.8 million by FY25, and key growth driven by strong global demand and expansion in various sectors, the industry is on track to contribute 10% of India’s GDP. Government initiatives and private investments further bolster the sector’s potential, marking a significant leap in India’s digital transformation.

ETtech Explainer: How ads have become a key revenue engine for ecommerce platforms - The Economic Times

Economic Times

Economic Times · 1m ago

ETtech Explainer: How ads have become a key revenue engine for ecommerce platforms - The Economic Times

Ecommerce platforms like Flipkart and Myntra have seen significant growth in ad revenue, with Flipkart's ad revenue rising 27% to Rs 6,317 crore in FY25. This increase reflects a trend across the industry, driven by brands seeking visibility amid changing consumer behaviors. As advertising becomes a crucial revenue stream, it's helping these companies reduce losses, with platforms investing in new tools for ads to capitalize on the fast-growing ecommerce market.

Kearney sees 6–8% CAGR for two-wheelers through 2030, GST impact short-term

Economic Times

Economic Times · 1m ago

Kearney sees 6–8% CAGR for two-wheelers through 2030, GST impact short-term

India's two-wheeler industry is projected to grow at a CAGR of 6–8% until 2030, driven by increased household penetration, income growth, and a shift toward electric mobility, according to a report by Kearney. Electric two-wheelers are expected to account for 30% of sales by 2030, with gig workers adding an estimated 7–8 million units. The report highlights the need for OEMs to focus on product launches, software in EVs, and innovative marketing strategies.

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