India is fourth largest startup hub in world, hyper-growth in technology
Technology startups found a mention in The Economic Survey 2014-15 as it stated that the year witnessed hyper-growth in the technology start-up and software product landscape with India ranking as the fourth largest start-up hub in the world with over 3,100 start-ups in the country. Software products and services revenues for 2015-16 is projected to grow at 12-14 %. http://goo.gl/YicMNa
Also read: FM Arun Jaitley may unveil Rs 2,000 crore ‘fund of funds’ to turbo-charge startups http://goo.gl/JzN8zi
Recruiters expect attrition to hit a 2-year high in next six months on better job prospects
India Inc had better beware. The next six months may see a surge in attrition rates to a two-year high across sectors. Better growth prospects, as highlighted in Friday’s Economic Survey, and post-appraisal job switches look like they’ll lead to an abrupt shift in employee loyalties. Read more here. http://goo.gl/Xe38l3
Tata Motors announces VRS for 16000 workmen across the country
Tata Motors Ltd on Friday unveiled a voluntary retirement scheme (VRS) to pare its workforce and cut costs as India’s largest auto maker by revenue tries to sharpen its competitive edge in its home market. Only blue-collar workers above 40 years of age will be eligible to opt for the VRS, a company spokesperson said. The firm has 16,000 such employees, more than half its workforce. Read more here. http://goo.gl/zkb2x0
Another blow on Sahara
Market regulator Securities and Exchange Board of India (Sebi) on Friday cancelled Sahara Asset Management Company’s portfolio management licence. It said the AMC had failed to meet the ‘fit and proper’ criterion and has has rejected Sahara’s request for renewal of its licence, pending since July 2012. http://goo.gl/vWIHHA
Roaming may get cheaper as TRAI calls for 80% rate cut
Call and messaging charges while roaming may head south after the Telecom Regulatory Authority of India (Trai) on Friday proposed sharp 35% and 80% cuts, respectively, to the maximum rates that operators can charge for these services. Read more here. http://goo.gl/KDuUts
CCD may be valued at $1bn in April IPO
The firm behind Cafe Coffee Day, India’s biggest homegrown coffee chain, is set for a market debut that could value it at almost $1 billion, even as the country’s burgeoning cafe culture draws global giants Starbucks and McDonald’s. http://goo.gl/h7B5Yd
CCI says no ‘overlaps’ in SpiceJet-Ajay Singh deal
The Competition Commission has said Ajay Singh’s acquisition of controlling stake in SpiceJetBSE -1.65 % will have no “horizontal overlaps or vertical relationship” between the two parties. As part of a revival plan, Singh has snapped up 58.46 per cent stake in SpiceJet after getting green signal from the Competition Commission of India (CCI).Read more here. http://goo.gl/X9C7FO
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)