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Even as there is an ongoing global turmoil, hiring intentions in services and manufacturing sectors for the first quarter of 2023-24 are 10 per cent more than the year-ago period, a report said on Tuesday. According to the TeamLease Services' 'Employment Outlook Report' for the Services and Manufacturing sectors for Q1, FY24, despite the ongoing global turmoil, hiring intent in India has steadily increased over the past year. In comparison to the same quarter in the previous year (April-June 2022-23), hiring intentions in the services and manufacturing sector in the first quarter of FY24 is 10 per cent higher as close to 64 per cent of employers the employers interviewed said they are keen to increase their resource pool across industries. However, compared to the fourth quarter of FY23, the hiring outlook has witnessed a dip of 4 per cent. The TeamLease Employment Outlook Report for the Services and Manufacturing sectors is based on a survey of 809 small, medium and large companie
COVID-19 strongly impacted the manufacturing sector in India, according to a study which provides new insight into how countries respond to systemic shocks such as the pandemic. Previous attempts to quantify the impact of COVID-19 mostly looked only at the pandemic in a single dimension, such as gross domestic product or a country's unemployment rate. The latest study, published in PLOS One, explored resilience across a variety of social, economic and political domains in several countries, including the US, Brazil, India, Sweden, New Zealand and Israel. "We found significant discrepancies between what experts had predicted would be the most resilient countries if struck with a pandemic," said Sara Del Valle, from the Los Alamos National Laboratory in the US. The researchers found that the most pandemic-impacted sectors also differed across countries. The study shows that human health, public administration and defense were strongly impacted in the US and Sweden, while manufacturi
Business prospects of domestic solar original equipment manufacturers (OEMs) will remain strong aided by several policy measures over medium-term, rating agency Icra said. As a result, many domestic OEMs have announced sizeable capital expenditure to augment the cell and module capacity, including the capex for integrated facilities under PLI scheme by the winning bidders. However, it stated that timely commissioning and ramping up of ongoing capex in module manufacturing value chain remains a critical factor in the near to medium-term. As a result, adequacy of the modules from the domestic OEMs to meet the demand in utility & non-utility segment as well as quality of such modules remains a monitorable. "The policy focus by Government of India in the renewable energy (RE) sector remains strong as also evident from the policy target of 500 GW of non-fossil fuel-based capacity by CY 2030 as well as policy direction in the energy transition with net zero emission target by 2070," ...