Prices doubled from 2009...enough said....
Read more
Reply
538 Replies
Sort by :Filter by :
  • After Capgemini, Atos Origin to bet big on India, hire 10,000 staff

    After Capgemini, Atos Origin to bet big on India, hire 10,000 staff - Economic Times
    CommentQuote
  • Remittances from Indians overseas totaled $71 billion in 2013, making India the top destination for a record 6 years in a row, reveals a recent report by the World Bank(WB). In 2012, India had received over $69.5 billion. China comes second again, with $60 billion remitted. Together, India and China make up nearly a third of total remittances to the developing world.

    In 2012, India’s IT exports had totaled $69.7 billion.

    Overall, developing nations received $414 billion this year, a 6.3% rise from 2012. The magnitude of such remittances is expected to reach $540 billion in 2016.

    According to the Ministry of Overseas Indian Affairs, as of May 2012, around 21.9mn Indians were living abroad, with the USA being the preferred choice of more than 2.2 million Indians, followed by Saudi Arabia (1.78mn) and the UAE (1.75mn). Kerala, Gujarat, Maharashtra, and Punjab are the maximum inward-remittance generating states, according to the RBI. The largest remittances came from the UAE, at $15.6 billion, and USA ($11.9 billion) in 2012.

    In recent months, the rupee has weakened considerably vis-à-vis the dollar, and a surge in remittances is expected as non-resident Indians take advantage of cheaper goods, services and assets back home, says the WB report.

    Shedding light on the issue, Kaushik Basu, senior vice president and chief economist of the World Bank, said, “These latest estimates show the power of remittances. For Bangladesh, remittances provide vital protection against poverty. In terms of volume, India, with $71 billion of remittances, tops the global chart. To put this in perspective, this is just short of three times the FDI it received in 2012. Remittances act as a major counter-balance when capital flow. Also, when a nation’s currency weakens, inward remittances rise and, as such, they act as an automatic stabilizer.”

    Remittances received by other developing countries were as follows: Philippines ($26 billion), Mexico ($22 billion), Nigeria ($21 billion), and Egypt ($20 billion). Other large recipients include Pakistan, Bangladesh, Vietnam, and Ukraine.


    Remittances exceed India
    CommentQuote
  • paaap. baap re baap :)

    Now whenwe look back the RE story , these stats tell how much money is getting pumped in the RE. Given that usually the excess money either chase land, propery or gold, even say 20 billion USD (1200 billion rs or 12000 crore) per year gets poured into RE, that is pretty big amount (this is not correct as noone buys gold of 50L but for simplicity say one third gets into RE, this is very conservative though). Given usually this money pours into lucrative cities which lets take 20 in mumber, even 600 crore pour in city like Pune that is a big amount. Lets say 50% goes into commercial even 300 crore is big amount. with this money (conisdering one flat on average costs 50 L) we still have demands of 600 flat just by these investor class. The demand from the local will surely be much higher than that as its a need basis. With huge IT companies sprawling in varios location say even 25 % of people choose to buy in Pune, we can add 1000 more to the equation.

    Then there will be wealthy people in Pune who may buy for their own use.

    So overall we have a 2000 to 2500 new house demand every year in Pune itself. With average of 40 house in one building (on average as sometime you have just 8 houses in a building and range upto 60 houses in a building) this would amount to around 60 news buildings. With average of 3 building per society (again average as sometime there are standalone single building just 4 floor societies to 10 towers 11 storey societies), we can see demand of around 20 new projects launches per year (not to count some old projects going in phases, they have been counted in prior years).

    Please note this all calculation is based on conservative estimates. Actual demand will be much higher.

    Now this adds up well explaining the prise rise phenomenon. One need not take supprot of conspiracy theories (like Nexus of poli and builders , crookedness of builders etc) to explain prise rise.

    Now open for disection by various bears (let the penny wise pound foolish logic come by).
    CommentQuote
  • India's dominance of the offshoring industry has eased ever so slightly, with Mumbai losing its position as the world's second-best place to outsource to Filipino capital Manila, according to the new Tholons 2014 Top 100 Outsourcing Destinations rankings report.

    The news isn't all bad for India: it's still home to six of the world's ten best outsourcing cities. The Philippines has two entries in the top ten, which is rounded out by Poland's Kraków and Ireland's Dublin.



    http://www.tholons.com/nl_pdf/Whitepaper_December_2013.pdf
    CommentQuote
  • Telstra could outsource as many as 1000 jobs to the Philippines and India following a review by two management consulting firms that is due to be completed by the end of next month.

    Telstra tipped to outsource another 1000 jobs
    CommentQuote
  • Novartis to cut or transfer up to 4,000 pharma jobs to India

    A significant number of jobs are expected to be moved to India, with the company saying that it plans to move existing operations in Hyderabad to a business services centre as part of its consolidation strategy.

    "The new centre is expected to open in late 2015 or early 2016 and will bring together Novartis operations that are currently spread across three sites in Hyderabad as well as provide for future growth," the statement said.


    Novartis to cut or transfer up to 4,000 pharma jobs to India - InterAksyon.com
    CommentQuote
  • Home prices begin to rise, signal change in real estate market mood

    In Bangalore and Pune, prices have risen for the first time since the last quarter of FY 13, the latest Residex data shows. The biggest rise was in Nagpur (8 per cent over the previous quarter), followed by Guwahati (7.4 per cent) and Pune (7.3 per cent).

    Home prices begin to rise, signal change in real estate market mood | The Indian Express
    CommentQuote
  • Tech giant Cognizant came up with 27 offers — the maximum by a company — at the placement season of the Indian Institute of Technology-Madras (IIT-M), this year.

    At the end of the first phase of the placement drive that began on December 1 last year, 906 offers were made by 231 companies that visited the campus. A total of 786 students have been placed so far.

    The highest domestic offer this year was of Rs. 48.68 lakh per annum, and 35 students received offers above Rs. 20 lakh per annum.

    786 from IIT-M placed as 1st phase of hiring ends - The Hindu
    CommentQuote
  • With a bullish outlook on the Indian IT story and its own hiring plans, Mahindra group's technology venture Tech Mahindra says its headcount will cross the 1-lakh level in about a year, from close to 85,000 at present.

    "I don't think there has been any stagnation in hiring activities in the Indian IT space. Seven years ago, we were six-seven thousand people and today we are 85,000," Tech Mahindra Vice Chairman Vineet Nayyar said here.

    Asked when Tech Mahindra would reach the 1-lakh mark, he said: "Its a matter of a year or so. I don't see it as a very big deal."

    "I am sure that IT will create huge employment going forward too and then you should understand that for each job in IT, you create at least three additional jobs and most people say it is an under-statement. So, net-net on employment side, I am fairly bullish," he added.



    Tech Mahindra bullish on hiring; headcount to cross 1-lakh soon - Economic Times
    CommentQuote
  • Two global giants, GE and Alstom, are increasingly using their Indian facilities to produce goods for their global markets. The advantage is two-fold: a cheaper rupee has made Indian goods more attractive across the world; and exporting from India helps these companies offset a dull domestic market in New Delhi.


    This is expected to add thousands of new jobs at a time when the Indian economy is in the grip of a crippling slowdown. GE, which pioneered the services outsourcing model that made India a darling of investors till a few years ago, is hoping to repeat this in manufacturing.


    GE, Alstom turn India into production hub - Hindustan Times
    CommentQuote
  • RBS to slash 20,000 jobs

    The cuts are likely to help fund increased investment on vital IT systems after a series of embarrassing glitches caused millions of the bank’s customers to lose access to their money.

    Mr McEwan is understood to believe that only increased automation will allow the bank to compete with rivals such as Barclays and Santander UK, which have spent billions of pounds building state-of-the-art computer platforms to offer customers better online and banking services.

    RBS to slash 20,000 jobs - Telegraph
    CommentQuote
  • French computer services consultancy Capgemini said net profit rose by a quarter last year, and highlighted a shortage of computer engineers in the expanding sector.

    The company said that at the end of 2013 it employed 131,000 people around the world, up from 125,000 in 2012, and had recruited 32,000 people last year of whom 45.0 percent were young people.


    Capgemini reports profits surge, focus on demand for engineers - The Economic Times
    CommentQuote
  • Originally Posted by paaaap
    RBS to slash 20,000 jobs

    The cuts are likely to help fund increased investment on vital IT systems after a series of embarrassing glitches caused millions of the bank’s customers to lose access to their money.

    Mr McEwan is understood to believe that only increased automation will allow the bank to compete with rivals such as Barclays and Santander UK, which have spent billions of pounds building state-of-the-art computer platforms to offer customers better online and banking services.

    RBS to slash 20,000 jobs - Telegraph



    Paaap,

    IIT's are not going to have problem about job offers. Its institutes like Raghavendra Institute of Technology (a fictitious Engg college with hardly any labs or good academic staff in the middle of nowhere which charges students 4 lakhs per year and gives them a worthless piece of paper after 4 years) which are having problems already. I'd like you to publish the surge in job offers by top IT companies wo these institutes! :)

    The silent killer here is automation. This could take 5-10 years but its rapidly advancing in every sphere. Check out the fact that while you are highlighting 100 here and 1000 there kind of hiring, automation is decimating 20-30000 people (out of 120000 that a huge 25%) at one go.

    Yes, the job scene is terrible and is going to get worse, despite the feel good postings of 20 offers here and 50 offers there.

    I would definitely believe in your hiring spree reporting if you could not only report the hiring numbers but also the firing and net hiring numbers. The hiring numbers are always reported by company PR but the firing numbers are never mentioned by companies. If hiring is so strong , why are they so afraid to post that news as well?!

    Not that I want it to be negative in any way, but one has to see ground realities unemotionally.

    cheers
    CommentQuote
  • Wisemen,

    Trust us on this...hiring in IT has not been so bullish for almost 3-4 years now....things are really looking better...double digit hike is back too

    also...if Modi comes...manufacturing will revive too...economy is really bottoming out
    CommentQuote
  • Originally Posted by Baruch
    Wisemen,

    Trust us on this...hiring in IT has not been so bullish for almost 3-4 years now....things are really looking better...double digit hike is back too

    also...if Modi comes...manufacturing will revive too...economy is really bottoming out


    As you had once said to me ... "some data please?" :D

    I would like to believe it (and it may very well true as in the case of "green shoots", but I have been down this road before in IT more than once (been in IT export sector for 29 years now).

    The problem unfortunately is external and we are only the secondary beneficiaries of whatever happens out there in the West (especially in IT). One needs to see at least 2 Qtrs of continuing rise in numbers before starting to rely on this trend. It could simply be a swing from excessive negative, which could imply a rise in hiring to fill some positions but not any major swing in job requirements coming in from the West.

    Its like the Housing Rebound in the US. Too soon it was called recovery and now we are starting to see that it was really a relief rally in a larger bear market.

    The danger in these bounces is, lots of people start taking them for real recovery into a bull market and quickly (prematurely) get back to their excessive spending, only to see it reverse swing and they get caught into even deeper trouble.

    I would suggest continued caution for at least another 6-9 months (with savings going on in full swing) before venturing out.

    The big one in the West is still on its way and when it hits the reversal here would be very rapid with no time for people here to take evasive action.

    Let us see.

    cheers
    CommentQuote