Victor Manuel Alvarez

Around 73% companies in India are looking to improve women’s development to make them future ready, reports Rupali Mukherjee for The Times of India, citing a survey by WeAce. This figure was 41% five years ago, the survey shows. Most companies are facing talent shortages and so, they have turned their attention to leadership development and upskilling. The programmes are tailored to enhance leadership skills, executive presence, strategic thinking and effective communication, the report says. Anuranjitha Kumar, co-founder and CEO of WeAce, says that companies aim to create an inclusive culture where all employees can thrive and maximise performance. Five years ago, only 34% companies were focusing on skill development as a part of their diversity, equity and inclusion agenda. Now the number is 51%, the survey shows further. Companies in sectors ranging from banking and agro-chemicals to automation have increasingly introduced programmes to enable more women in leadership positions, the report says. Binu Philip, CHRO, Greater India at Schneider Electric, says that there has been a positive impact on career progression and mobility at the company after it implemented a programme on women’s development. Source: The Times Of India - https://lnkd.in/gr6Ykkzb ✍: Novinston Lobo 📷: Getty Images #WomeInTheWorkforce #WomenEmployees

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Smaller cities are leading the way when it comes to video commerce, The Economic Times reports, citing data from Flipkart. Consumers in Tier 2 and 3 cities accounted for 65% of all video commerce engagement between May 2023 and June this year. The most in-demand categories were beauty, fashion, personal care, and home furnishings, the data shows. As a shopping format, video is gaining traction, especially among women in Tier 2 and 3 regions, and Gen Z and millennial customers, the report says. In fact, D2C brands, sellers, and farmers are increasingly relying more on video offerings. Reason? Reliability, interactivity, trust, and ease of access. Overall, Indians spent more than two million hours on Flipkart’s video commerce segment, the data shows further. Not only video or online commerce, but the retail sector is booming across India’s smaller cities, according to an earlier report by The Economic Times. The total retail stock in 14 Tier 2 cities crossed 29 million sq.ft. last year, with Lucknow, Jaipur, and Chandigarh taking the lion’s share, says CBRE data. Source: The Economic Times - https://lnkd.in/gE8JunwJ, https://lnkd.in/gRtmNMKT ✍: Abhiraj Ganguli 📷: Getty Images #ECommerce #VideoCommerce #Tier2 #Tier3 #Retail

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It's time to stay informed about tomorrow’s opportunities. Get expert guidance from LinkedIn's CEO, Ryan Roslansky covering from India’s tech job market to evolving career opportunities. So, why wait? Read Times Techies every Wednesday and Friday on TOI for the latest insights. Subscribe to Times of India today if you haven’t already, and stay ahead with the latest tech trends and innovations! 👉 https://lnkd.in/g3j7SPdg #TimesofIndia #TimesTechies #technology #technews #AI #IT #LinkdIn #ryanroslansky #Indiatech

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In Meta Connect 2023, Meta introduced Meta AI, its AI-powered chat assistant, initially slated for integration with WhatsApp. In November of the same year, US users gained access, while Indian users awaited availability. Recently, reports emerged that Indian users on X are now accessing the Meta AI chatbot on WhatsApp, suggesting Meta's expansion of the service to other countries. #MetaAI #AIChatbot #TechNews #whatsapp #Meta #ai

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More global food chains are opening their doors in Hyderabad. French culinary brand PAUL recently launched its first store in the city, The Economic Times reports. Meanwhile, popular restaurant brand Nando's South Africa, and Mexican chain Mexarosa also opened new outlets in the city. Hyderabad is currently the sixth largest food services market in India. Around 75,000 restaurants recorded a turnover of ₹10,161 crore in 2024, The Times of India reports, citing a study by the NRAI- National Restaurant Association of India. What is bringing big food brands to the city? “The per person spending on food during a visit is ₹990 in Hyderabad, which is second only to ₹1,050 in Delhi," says Kavitha Mantha, Secretary, NRAI. The city's food industry is expected to grow by 12% by 2028, the report adds. Why is Hyderabad becoming a top destination for global food brands? Share your thoughts in the comments below. Source: The Economic Times - https://lnkd.in/g7iMvnVC, https://lnkd.in/g_uV35MR., https://lnkd.in/gTtaNkYk. The Times Of India - https://lnkd.in/gRnasBnQ ✍: Ankita Sajal 📷: Getty Images #Hyderabad #FoodServices #FoodIndustry

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Cotton lovers and the Indian textile industry - brace yourselves for some upcoming news! 🌟 ➡ Cotton consumption is booming! The Ministry of Textiles reports the second-highest consumption in a decade, with demand expected to reach 307 lakh bales. This is significant news for both cotton farmers and textile businesses. Story: https://lnkd.in/dufSxzkC ➡ Boost for garment exports! Textiles Minister Giriraj Singh announced a ₹10,000 crore Production Linked Incentive (PLI) scheme to incentivize textile production, and they are considering expanding it to garments. He opines the industry should target $50 billion of exports in the coming years. Story: https://lnkd.in/dufSxzkC ➡ Transparency in cotton trade! The Cotton Corporation of India (CCI) is now using QR codes to track each cotton bale. This provides valuable information on origin, processing, and sale, ensuring a more transparent and ethical supply chain. ♻ Story: https://lnkd.in/g3kddD83. ➡ India's apparel market is poised for major growth. The 'hub and spoke' model is being promoted to boost domestic manufacturing and industry collaboration. With a goal of reaching $350 billion by 2030, the industry has a bright future. Story: https://lnkd.in/gGw6HGhd What do you think? We would love to hear your thoughts on this #textiles #cotton #PLI #MadeInIndia #transparency #hometextiles

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Indian Olympians are now the toast of brands after making waves during the just-concluded Paris Games, Himanshi Lohchab reports for The Economic Times. In fact, athletes like shooter Manu Bhaker, wrestler Vinesh Phogat, and men’s hockey team captain Harmanpreet Singh and goalkeeper PR Sreejesh have seen their following on social media platforms skyrocket in the last few weeks, and that has made brands take notice. Sujatha V Kumar, Head of Marketing at Visa India and South Asia, says that the social media presence of athletes is an essential avenue to boost traditional marketing efforts. Puma, Adidas, Reliance Foundation, and Samsung, among other companies, have signed up Olympians, the report says. Social media is necessary to create engaging content to break the clutter and drive involvement amid shortening attention spans, says Shreya Sachdev, Associate Director and Head of Marketing at Puma India. Viewership also surged, with the javelin throw final, where Neeraj Chopra won silver, attracting 5.6 crore viewers on official streaming platform JioCinema — a figure comparable to the ICC Men’s T20 World Cup final. Chandramouli Nilakantan, CEO of communications firm TRA Research, says that brands can save costs as the Olympics feature individual athletes and they associate with stories that resonate with people from India’s hinterland. However, managers of India’s medal winners at Paris have challenged brands for unauthorised use of their athlete’s names and images for commercial purposes, Javed Farooqui and Maulik Vyas report for The Economic Times. Baseline Ventures and IOS Sports have issued legal notices to companies on behalf of Bhaker and Sreejesh, respectively. While it is often perceived that congratulatory messages are harmless, it is incorrect as the coverage benefits the brand without duly compensating the athlete, says Rahul Chaudhry of law firm Rahul Chaudhry & Partners. Trademark registration and tighter monitoring can help prevent such instances, he adds. The sports endorsement market grew to ₹927 crore last year, with non-cricket athletes accounting for 13% of it, according to data from GroupM ESP. Source: The Economic Times - https://lnkd.in/gM94Bah6, https://lnkd.in/gUwUNDM2 ✍: Abhiraj Ganguli 📷: Getty Images #Olympics #Paris2024 #Brands #Marketing #SportsMarketing #Advertising

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The number of frauds in the banking sector is on the rise, Sharmila Bhadoria reports for Livemint, citing data from the Reserve Bank of India (RBI). Cases increased by nearly 300% in the last two years to 36,075 in FY24, data shows. However, the amount involved has fallen from ₹45,358 crore to ₹13,930 crore. More instances were reported from the digital payments segment, the report says. While private sector banks reported the maximum number of frauds over the last three years, public sector banks contributed maximum to the fraud amount. There was a significant time lag when it came to detecting bank frauds, the RBI said. “Customers should protect their interests by being aware of fake websites, links, and other methods. Banks should continue to strengthen firewalls guarding their core systems and invest in customer engagement,” says Arvind Arya, former EVP at Axis Bank. A recent report by the Indian Cybercrime Coordination Centre revealed that digital financial frauds accounted for ₹1.25 lakh crore over the last three years. Source: LiveMint - https://lnkd.in/gXjYQ4QG ✍: Preethi Ramamoorthy 📸: Getty Images #FinancialFraud #BankFraud

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The latest data from the Reserve Bank of India (RBI) reports rising fraud in the banking sector, especially in the digital domain. The fact that both public and private sector banks have been significantly impacted by these attacks stresses the need to embrace higher standards of cybersecurity. Adopting a DevSecOps development approach, strictly adhering to the OWASP design principles, and implementing two-factor authentication are some of the practices we adopt to build digitally secure software products. What security practices do you adopt to ensure a secure and stable software product? Let us know in the comments section. #cyberfrauds #banking #fintech #itservices #itservicesprovider #itservicescompany #softwaredevelopment #softwaredevelopmentcompany #softwaredevelopmentservices #softwaresolutions #softwaresolutionscompany #softwaresolutions #softwareengineering #cloudesign

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Startups in India have raised $3.9 billion in the first five months of 2024 — and a strategic shift is underway in the investment landscape, reports Aryaman Gupta for Business Standard. As many as 465 deals have been closed this year, compared to 758 in the same period last year, according to Tracxn data. While the number of deals has reduced, the deal value has jumped 40% this year. How are trends in investment evolving? Investors are now prioritising startups capable of delivering a return on capital employed that surpasses their expected return on investment — creating value for shareholders and founders, according to Anirudh A D., Managing Partner at Artha Venture Fund. This is a shift away from cash-burning startups, he adds. Investors are gravitating towards "winners," says Vikram Chachra, Founding Partner of 8i Ventures. These startups include firms that have showcased the ability to scale and achieve profitability, and those that backers have seen grow and succeed, adds the report, citing investors. Some of the biggest fund-raises this year so far have been Lenskart’s $200 million round, Flipkart’s $350 million round, Meesho’s $275 million round, and Pocket FM’s $103 million round, show reports. The second half of this year is expected to see a recovery in funding across stages, say investors. How do you expect startup funding trends to evolve this year? Share your take in the comments. Source: Business Standard: https://lnkd.in/gdVNQE2u, https://lnkd.in/g9eHDQ_J ✍: Isha Chitnis 📷: Getty Images #StartupFunding #InvestmentTrends #Startups

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More Indian consumers are increasingly becoming image-conscious due to social media, Financial Express reports, citing a survey by GlobalData. Social media drives the purchase decisions of more than three in 10 Indian consumers, according to the survey. And as a result, more people are preferring to buy international beauty brands. Looking good has become an important part of being successful and therefore, consumers are aligning with brands chosen by celebrities, says Meenakshi Haran, Lead Consumer Analyst at GlobalData. What’s driving this trend? India’s young population and strong internet penetration, the report further says. India’s cosmetics and beauty market is set for robust growth in future, says Francis Gabriel Godad, Consumer Business Development Manager at GlobalData India. This points to more opportunities for beauty brands operating in the country as well as those from abroad to enter the Indian market, he adds. Source: https://lnkd.in/gqHPgWRe ✍: Divya Pathak 📷: Getty Images #BeautyBrands #Retail

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In today’s News Wrap, we ask: How can one build meaningful relationships at work? Also in the News Wrap: The volume of electric vehicle (EV) units in India is set to touch 10 million in the next decade, and more Indians are designing travel plans around concerts and other musical acts. Thanks to Sudarshan Sarma for his take on India’s EV industry, Rishabh Mariwala for sharing how India can become a destination for global artists, and Neelima Chakara for her tips on building relationships at work. Source: The Economic Times - https://lnkd.in/eeDFaKk6 Anumeha Chaturvedi, The Economic Times - https://lnkd.in/exSKbyuM #EveningNewsWrap

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More retail giants are eyeing the quick commerce space in India. For instance, Flipkart launched 'Minutes', its quick commerce platform on Tuesday, The Economic Times reports. The service is now live across selected areas in Bengaluru and the company aims to boost its presence throughout the city over the next few weeks, the report says. Flipkart also plans to make nearly 100 dark stores operational across Bengaluru as it gears up for the festive season this year, the report further says. Similarly, Amazon and Jio Mart are also planning to launch their own quick commerce services, according to earlier reports. Rising popularity of rapid delivery systems, especially among younger consumers, is one of the key factors that has led to this trend, says another report by The Economic Times. Moreover, quick commerce accounts for nearly 5-6% of a household's grocery spending, the report adds. Source: https://lnkd.in/gvSKu6cr ✍: Divya Pathak 📷: Getty Images

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More than half the companies in India are firmly on their way to increasing the percentage of women in their workforce, Sreeradha Basu reports for The Economic Times, citing a survey by staffing firm ManpowerGroup India. IT, followed by the healthcare and life sciences, financials, and real estate sectors have the highest diversity ratio, the survey finds. Global Capability Centres (GCCs) in India have also seen an increase in female technologists to 30% in FY24, compared to 26.6% in FY20, The Times of India reports, citing data from Quess Corp. However, the number of female employees in mid and senior-management positions remain low, the data shows. Caregiving responsibilities, limited career growth opportunities, and poor work-life balance are a few factors leading to attrition of female employees, the Times of India report says. Internal leadership development programmes and flexible work policies would help when it comes to retaining and attracting talent, the ManpowerGroup survey finds. Additionally, an inclusive organisational culture is crucial. Sandeep Gulati, Managing Director of ManpowerGroup India and Middle East, says that companies in India have restructured their hiring strategies and made it compulsory to hire women across sectors at all levels. With the help of technology, organisations have also incorporated flexibility into their workflows and are offering specialised programmes for women who are returning to work after a break, he adds. Connecting women with female role models is also critical, says Ushashri Tirumala, Executive Vice President and General Manager at Manhattan Associates. Source: https://lnkd.in/gEbthaBh ✍: Divya Pathak 📷: Getty Images #WomenAtWork #DEI

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Campus hires from B-schools had the highest attrition rate across disciplines in 2023, Sreeradha Basu reports for The Economic Times, citing a Deloitte survey. Conducted across 194 organisations and 508 campuses, it highlights a one-year attrition rate of 40%. Infant attrition rate was the highest among management graduates, with 33% of these hires leaving the organisation within a year of joining. That said, when compared with 2022, the attrition rate has reduced. The steepest fall has been in BTech and BBA degrees, Deloitte India’s Director Dr. Neelesh Gupta says. According to him, companies are preferring candidates with more experience, leading to a higher attrition rate in MBA campus hires. Prioritising higher pay and further education, many professionals leave their first job to upskill, he adds. What are companies doing to arrest this trend? From bonus, skill-based pay, and job rotation to flexible working hours and education opportunities, the report finds. Axis Bank’s HR head Rajkamal Vempati says that campus hires are offered a choice. In addition to internal fast-track programmes, some get to select the department they would like to join after the job rotation period. The projected salaries for management students has seen a 5%-10% drop in 2024, the report shares. Source: The Economic Times: https://lnkd.in/g9iVuf7m ✍: Dipal Desai 📸: Getty Images #Campusplacements #MBA

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Contractual hiring is on the rise in India's information technology space, reports Prachi Verma for The Economic Times. This report comes after a year of scaled-back hiring and layoffs in the sector. An uptick in contractual hiring often signals an improvement in demand activity for IT service providers — a trend often followed by hiring for permanent roles, adds the report. The current contractual hiring rate has spiked by 40-50% over the same time in 2023, says Neeti Sharma, CEO at TeamLease Digital. She adds that the increase indicates an urgent need to expand the workforce after a period of reductions. In the January-March quarter, Michael Page saw a 22% year-on-year jump in overall contracting, which includes IT services firms, adds the report. Skills in high demand in the technology staffing space? Data analytics, AI/ML, and Google Cloud, said Pranshu Upadhyay, Regional Director at the firm. According to industry experts, firms increase contract hiring depending on factors like their strategies to prepare for future demand, order book positions, and specific client demands. Other talent trends shaping the IT space include an anticipated jump in fresher hiring in FY25, and a significant churn in IT leadership — 4,500 in the last 12 months — according to reports. Source: The Economic Times - https://lnkd.in/d9ymH3UK businessline - https://lnkd.in/gmbVAafR Business Standard - https://lnkd.in/g4i33SE9 ✍: Isha Chitnis 📷: Getty Images #ITHiring #ContractualJobs

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More insurance firms in India are planning to increase their headcount, reports suggest. For instance, Zurich Insurance Group AG plans to hire 600 people over the next three years, The Economic Times reports. The areas in focus include digital development, commercial insurance underwriting and distribution, and product and proposition development. The company recently acquired a majority stake in Kotak Mahindra Bank’s general insurance unit. Bandhan Life plans to recruit 1,000 new employees as part of its five-year strategy, says another report by The Times of India The company plans to invest heavily in technology and data-driven processes. Shriram General Insurance also plans to hire 700 people, the majority of which will be focused on marketing roles, according to businessline. India provides the strongest route of growth for insurance among emerging markets with opportunities to grow in areas such as commercial, small and medium enterprise, assurance, auto, and general insurance, says Tulsi Naidu, CEO - Asia Pacific at Zurich Insurance. Source: The Economic Times - https://lnkd.in/eBfUY4MK The Times Of India - https://lnkd.in/em-8bs9w businessline - https://lnkd.in/esD8BUne ✍: Preethi Ramamoorthy 📸: Getty Images #Insurance #InsuranceJobs #InsuranceMarket

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Fantastic insights as always by our Founder and MD, Mr. Naveen Gadde! Your forward-thinking approach and deep understanding of market dynamics always offer fresh perspectives and invaluable guidance. It’s a privilege to witness your leadership and vision driving both our organization and the industry forward. LinkedIn News India #Leadership #EveningNewsWrap #TheEconomicTimes #TheIndianExpress #MarketInsights #RealEstateTrends #BusinessGrowth #IndustryLeadership #VisionaryLeadership #Entrepreneurship

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bigbasket.com Reports FY24 Revenue Over ₹10,000 Crore and Reduces Losses by Over 20% In a strategic move to capitalize on the burgeoning quick commerce market in India, Tata Digital-owned BigBasket has announced its intention to focus exclusively on this segment. The company has set an ambitious target of achieving $1.5 billion (Rs 12,400 crore) in total sales for the current fiscal year (FY25). Despite the uncertainty surrounding the impact of this pivot, BigBasket's recent financial performance provides a promising outlook. The company successfully crossed the Rs 10,000 crore revenue mark in FY24, demonstrating its strong market position. Furthermore, BigBasket managed to narrow down its losses by over 20%, indicating improved operational efficiency and cost management. The strategic shift towards quick commerce aligns with the increasing consumer preference for rapid delivery of groceries and essentials in India. By focusing on this segment, BigBasket aims to leverage its existing infrastructure and expertise to meet the growing demand for convenience and speed. While the full impact of this strategic decision will become evident in the coming months, BigBasket's commitment to quick commerce positions the company as a frontrunner in a rapidly evolving market. With its strong financial performance and strategic focus, BigBasket is well-positioned to achieve its ambitious revenue target and solidify its leadership in the Indian online grocery space. #startup #startupnews #bigbasket #quick #commerce #company #tata #market #financial #report #revenue #reduce #strategy #india #online #grocery #store #post

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