SoftBank plays hardball in Flipkart-Walmart deal, India must create 8.1M jobs a year, and more trending news
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A 'yes' from SoftBank could be all that Walmart needs to seal a deal with Flipkart. Economic Times reports that key investors collectively holding more than 55% in the homegrown e-commerce firm – Tiger Global, Naspers, Accel, Tencent, and founders Sachin Bansal and Binny Bansal – have agreed to sell all or part of their stakes to the American retailer. But SoftBank, the largest investor with a 20% stake, is holding out for a better price – Walmart is believed to have offered a $10-12 billion valuation while the Japanese investor is eyeing $15-17 billion.
India must create 8.1 million jobs annually to arrest rising unemployment, according to a World Bank report. "Every month, the working age increases by 1.3 million and India must create 8.1 million jobs a year to maintain its employment rate, which has been declining," it says. According to the Centre for Monitoring Indian Economy, joblessness rate hit a 17-month high of 7.1% in February, with 31 million unemployed people looking for jobs. But what may help matters is that the economy seems to have recovered from the twin shocks of GST and demonetisation – and on course to clocking 7.3% growth this fiscal.
India is expected to get "normal" monsoon rains for the third straight year. The Met Department has predicted that the country will receive 97% of the long-period average rainfall (error margin of +/-5%) in 2018, with very little probability of a deficient monsoon. “Today’s forecast is the first set of good news but for agriculture spatial and temporal distribution of monsoon is as critical,” said Dharmakirti Joshi, chief economist at Crisil. Earlier this month, private weather forecast agency Skymet had predicted monsoon rains at 100% from June to September.
Looking to earn big bucks? Consider moving to Bengaluru. A Randstad study shows India's IT capital is the highest-paying city in the country with an average annual cost to company of ?10.8 lakh. Bengaluru, which snagged the top spot for the second year running, is followed by Pune (?10.3 lakh), Delhi-NCR (?9.9 lakh) and Mumbai (?9.2 lakh). The report also highlights that pharma and healthcare professionals are paid the highest, with an average CTC of ?9.6 lakh. Management consulting and accounting firms offered the second-best salary (?9.6 lakh), followed by FMCG (?9.2 lakh) and IT (?9.1 lakh).
Soon, you will be able to compare mobile plans of all telcos on a single platform. The Telecom Regulatory Authority of India has introduced the beta version of a site that will display operators' regular tariffs, special vouchers, promotional tariffs, and value-added service packs, among others. Currently, the site caters only to the Delhi circle, but it will be rolled out in other cities following feedback from consumers and stakeholders over the next two weeks.
Idea of the Day: Today’s professionals can learn a thing or two about climbing the corporate ladder from Sir Edmund Hillary, who made it to the top of Mt. Everest 65 years ago next month. It wasn’t a solo accomplishment, says Deloitte’s Punit Renjen — Hillary teamed up with the right people.
“Strategic alliances and ecosystems can help individuals and organizations accomplish what they cannot achieve on their own.”
What's your take? Join the conversations on today's stories in the comments.
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This article was updated. From earlier: India unlikely to be branded a currency manipulator
quantity surveyor at blessings of life
6 年Civil vacancy
Founder Chairman & CEO
6 年Understand from reliable sources that deal has been signed & sealed. Awaiting PM Modi's return to make the announcement. Further, present management under Kalyan will continue. Also top management are being locked in with Retention Bonuses running into millions of dollars. The Bansals are cashing out.
??Scrum Master - CSM? ??Business Analyst - BA ??Empowering Teams ??Enabling Product Owners ??Stakeholder Management ??Agile Project Management ??Agile Transformation Expert ??Expert in Lean Tools & Reports
6 年Indian Governament never ever support creditable support to invention so india will be in developing state even my son and those son's - son's also here india was on developing stage... indian attitude need a change by there attitude to develop there own country's future...
Director of Growth | Fintech | IIT Delhi
6 年In my opinion, we need a two pronged approach: 1. Skill development (Medium term): Outdated curriculum being followed at Polytechnics and ITIs, should be remodelled to be future proof. This will encourage both Indian companies and foreign companies investing in India to invest aggressively, as they can expect high security and returns on their investment. Availability of skilled workforce will also promote entrepreneurship, which is a key parameter for ease of doing business index. 2. Manufacturing (Long term): Manufacturing industry contributes to 16-17% of GDP (second only to service industry) and 12% of total employment. Various studies have suggested that every job created in manufacturing has a multiplier effect in creating 2-3 jobs in service industry. Hence, Infusing more capital in manufacturing is critical in achieving inclusive growth of our economy.