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Puneet Chhatwal, Sunil D’Souza join Tata Digital board after Naveen Tahilyani’s exit - The Economic Times

Economic Times

Economic Times · 1m ago

Puneet Chhatwal, Sunil D’Souza join Tata Digital board after Naveen Tahilyani’s exit - The Economic Times

Tata Sons has appointed Puneet Chhatwal and Sunil D’Souza to Tata Digital's board to enhance its consumer business expertise after Naveen Tahilyani's departure. Ankur Verma is now acting chairman of Croma. The company will operate with board management until a CEO is appointed. This reshuffle aims to address feedback on the need for more consumer-focused leadership, as the company had previously relied on finance-oriented members.

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Dial reset, again: Tatas in talks to bring external CEO to lead Tata Digital - The Economic Times

Economic Times

Economic Times · 8d ago

Dial reset, again: Tatas in talks to bring external CEO to lead Tata Digital - The Economic Times

Tata Digital plans to appoint an external CEO, its third since 2019, in a strategic overhaul to address scale-up challenges and streamline its consumer digital portfolio, including BigBasket and Tata Cliq. This follows the exit of former CEO Naveen Tahiliyani due to strategic disagreements. Tata Sons chairman N Chandrasekaran is temporarily overseeing operations, emphasizing operational discipline and profitability. The leadership reset aims to improve delivery efficiency and foster synergies among the company's various verticals.

India's tourism sector sector has the unique power to create jobs like no other: FAITH chairman Puneet Chhatwal

Economic Times

Economic Times · 17d ago

India's tourism sector sector has the unique power to create jobs like no other: FAITH chairman Puneet Chhatwal

India's tourism sector aims to reach a $3 trillion economy by 2047, as outlined by FAITH chairman Puneet Chhatwal. The sector plans to double its GDP contribution and create around 200 million jobs. Tourism is seen as a significant economic driver, capable of fostering employment and cultural unity. The national tourism conclave aims to assess progress and establish milestones. The industry hopes to boost foreign and domestic visits significantly, aligning with government visions.

CXO-level shifts rearrange top deck at Indian startups

Economic Times

Economic Times · 1y ago

CXO-level shifts rearrange top deck at Indian startups

In the first half of 2024, several top-level movements were seen in various companies. Naveen Tahilyani became the CEO of Tata Digital, replacing Pratik Pal. Surinder Chawla stepped down as the MD and CEO of Paytm Payments Bank, while Rakesh Singh took over as the CEO of Paytm Money. Ritesh Pai joined PhonePe as the CEO of its international business. In the edtech sector, Arjun Mohan left Byju's India and Byju Raveendran took charge of the company's India operations. Himanshu Bajaj also left Byju's to join Alvarez & Marsal.

India, an exciting market for tech, AI: Microsoft India President - The Economic Times

Economic Times

Economic Times · 5d ago

India, an exciting market for tech, AI: Microsoft India President - The Economic Times

Microsoft India President Puneet Chandok highlights India's potential as a significant technology and AI market. With AI contributing to 30% of Microsoft's code, a "tech debt" necessitates more engineers and applications. Microsoft commits $3 billion to India's cloud and AI infrastructure, aiming to skill 10 million people. India leads in AI leadership transformation, with 93% of leaders integrating AI. Economic ties foster global growth as Microsoft deepens its India engagement.

Srivatsan Rajan, longest-serving independent board member at Delhivery, steps down - The Economic Times

Economic Times

Economic Times · 28d ago

Srivatsan Rajan, longest-serving independent board member at Delhivery, steps down - The Economic Times

Srivatsan Rajan, the longest-serving independent board member of logistics company Delhivery, will step down on September 30. Rajan, who joined the board in July 2015, significantly contributed to the company's early development and expansion. As part of a board restructuring, Yashish Dahiya, CEO of PB Fintech, and Padmini Srinivasan from IIM Bangalore will join as independent directors. Delhivery’s April-June quarter saw a 68.5% YoY net profit increase, driven by operational efficiencies.

TCS lateral hires left in limbo as onboarding delays follow mass layoff announcement

Economic Times

Economic Times · 22d ago

TCS lateral hires left in limbo as onboarding delays follow mass layoff announcement

Several lateral hires at Tata Consultancy Services (TCS) face uncertainty due to delayed onboarding, following the company's recent announcement of mass layoffs. About 650 experienced professionals expecting to join between July and September were left in limbo as TCS cited business requirements for the delays. The company, undergoing a structural shift, plans to lay off 12,000 employees, mainly mid- to senior-level, due to economic pressures and AI disruptions. The situation prompts affected candidates to reconsider their career decisions.

TCS to freeze senior hiring, pause annual salary hikes - The Economic Times

Economic Times

Economic Times · 1m ago

TCS to freeze senior hiring, pause annual salary hikes - The Economic Times

Tata Consultancy Services (TCS) is implementing a hiring freeze for experienced employees and pausing annual salary hikes globally amid industry challenges like slowing demand and AI-related job threats. The company is also phasing out benched staff across Indian locations, conforming to a policy requiring such employees to secure projects within 35 days or exit. This move, impacting 2% of TCS's workforce, aligns with a broader IT sector shift towards tighter cost management and AI readiness.

Economy to grow slower unless more women join workforce: MeitY secretary - The Economic Times

Economic Times

Economic Times · 1m ago

Economy to grow slower unless more women join workforce: MeitY secretary - The Economic Times

S Krishnan, MeitY secretary, emphasized that India's economic growth will remain suboptimal unless more women join the workforce. At an event by Quess Corp and Udaiti Foundation, he highlighted the need for higher female participation, especially in states with aging populations like Tamil Nadu, to balance job demand and availability. Women comprise a significant portion of the workforce in large factories and sectors like IT. Efforts are being made to improve conditions and participation rates.

SoftBank to invest $2 billion in Intel to become a top-10 shareholder - The Economic Times

Economic Times

Economic Times · 10d ago

SoftBank to invest $2 billion in Intel to become a top-10 shareholder - The Economic Times

SoftBank Group is investing $2 billion in Intel, acquiring a nearly 2% stake and becoming its sixth-largest shareholder. This investment aims to support US semiconductor innovation and manufacturing. Despite no intention to join Intel's board or purchase its chips, SoftBank’s backing highlights strategic interest in the company amid its financial challenges. The move follows SoftBank's significant investments in technology sectors, including AI and data centers, reflecting a broader strategy in tech-related ventures.

Dharana Capital bets $50 mn on Urban Company

VCCircle

VCCircle · 1y ago

Dharana Capital bets $50 mn on Urban Company

Dharana Capital, an India-focused investment firm, has invested $50 million in Urban Company through a secondary transaction. The firm bought shares from Urban Company's employees and other shareholders. Vamsi Duvvuri, founder and managing partner of Dharana Capital, will join Urban Company's board as a non-executive director. Urban Company, a home services marketplace, operates in 62 cities across India, the UAE, Singapore, and Saudi Arabia. The company reported a 45% increase in operating revenue in FY23 but also recorded a net loss. It is backed by investors such as Ratan Tata, Tiger Global, and Prosus.

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