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News on Medial
About 7% workforce growth expected in October-March FY25 driven by logistics, ecommerce: report
Economic Times
·
9m ago
Medial
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
Medial
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.
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Ecommerce, tech startups redefining policies to stay flexible: TeamLease Services
Economic Times
·
8m ago
Medial
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.
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Lowering Logistics Cost Can Help Increase Ecommerce Penetration In India: Flipkart CEO
Inc42
·
1y ago
Medial
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.
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Vroom to shut its ecommerce operations, cut nearly 90% of jobs
Economic Times
·
1y ago
Medial
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.
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AI-driven transformation to augment 50% of Asia-Pacific workforce by 2025: report
Economic Times
·
1y ago
Medial
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.
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Policybazaar parent records 5.5X growth in net profit in FY25 as insurance premiums rise
YourStory
·
3m ago
Medial
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.
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Unicorn Pristyn Care lays off 120 employees to become profitable
Inshorts
·
1y ago
Medial
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.
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National Technology Day: India targets $500 billion revenue from tech industry by 2030
Economic Times
·
3m ago
Medial
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.
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FMCG sector to see 7-9 pc revenue growth this fiscal: CRISIL Ratings
YourStory
·
1y ago
Medial
According to a report by CRISIL Ratings, the fast-moving consumer goods (FMCG) sector is projected to experience revenue growth of 7-9% in the current fiscal year. This growth is expected to be driven by increased volume and demand in both rural and urban areas. The food and beverage segment is estimated to grow by 8-9%, while personal care and home care segments are predicted to grow by 6-7% and 8-9% respectively. To expand their offerings, FMCG companies will also explore inorganic opportunities, while sustained growth in the rural economy will play a crucial role in generating consistent demand.
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India's manufacturing growth hits 16-year high in March
VCCircle
·
1y ago
Medial
India's manufacturing industry experienced significant growth in March, reaching its highest level in 16 years. The expansion was driven by increased demand, with hiring also rising at the strongest rate in six months. The data is expected to support Prime Minister Narendra Modi's focus on manufacturing to boost the country's economy. The HSBC final India Manufacturing Purchasing Managers' Index rose to 59.1 in March, indicating continued production growth supported by both domestic and external demand. Both output and new orders increased to their highest levels since October 2020, while exports expanded at the fastest pace in nearly two years.
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