Weekly Round-up (September 8 - September 12): News you cannot miss
Indian manufacturing and export-oriented companies added the fewest jobs in the year during the quarter ending 31st March. However, hopes are now up and according to Crisil, the new government’s comprehensive 'pro-jobs policy' will help add 69 million non-agriculture and 11 million manufacturing jobs by 2020. With the improving market sentiment, Indian employers were reported to have the most optimistic hiring plans across the globe for the upcoming October-December quarter, according to the Manpower Employment Outlook Survey. In the short term, with the festive season just around the corner, staffing companies are being flooded with demands for more workers as well.
Entrepreneurs and start-up are getting support from the improving economy and are on a hiring spree. Delhi NCR beat Bangalore in start-up hiring in the month of August. The Kerala Government has taken steps to turn the State into an entrepreneur driven state as well. In other news, the ministry of human resource development will roll out a host of digital initiatives including free online courses from top institutions, a national e-library for students and a dedicated portal to help students make informed choices about higher education. Sarbananda Sonowal, Minister of State for Skill Development, Entrepreneurship, Youth Affairs and Sports (Independent Charge), emphasized the need to re-visit the Minimum Wages Act to align wages to the levels defined in the National Skills Qualification Framework.
Various movements that happened over the week were; Akhil Gupta joined the board at L&T. Dinesh Kanabar quit KPMG to open his own advisory firm. TVS Motor Appointed Sudarshan Venu Joint MD. Crisil’s Managing Director and CEO Roopa Kudva left the company. Fortis Healthcare Group CFO Sandeep Puri resigned. Tata Communications CFO Sanjay Baweja will resign to pursue other opportunities. Former coal secretaries, Alok Perti and C Balakrishnan who were independent directors at Coal India Limited resigned. Manoj Varghese, the first manager hire in India by Internet giant Google, joined Eastern as its top mentor; while Ashwani Kumar Verma, a former PepsiCo executive, joined Eastern to look after its operational side.