All New CRETA Establishes Supremacy Records Over 55 000 Bookings

* All New CRETA dominates India’s SUV landscape - Becomes India’s Best-selling SUV for two consecutive months in May and June 2020

* Most enquired and searched car on Hyundai ‘Click to Buy’ with 30 % enquiries and 76% bookings 

* Diesel models constitute 60% of bookings, indicating strong customer sentiment for Hyundai’s advanced Diesel BS6 technology

Hyundai Motor India Ltd. (HMIL), country’s First Smart Mobility Solutions provider and the largest exporter since inception continues to receive overwhelming response for its recently launched All New CRETA – The Ultimate SUV that has now recorded more than 55 000 Bookings. 

Commenting on the achievement, Mr Tarun Garg, Director(Sales, Marketing & Service), Hyundai Motor India Ltd. said, “Ever since its launch in 2015, CRETA has been a benchmark in the industry, a household name that has represented distinction and success for over 4.85 lakh valued customers. With the launch of All New CRETA in March 2020, Hyundai has once again redefined SUV leadership in the segment and established its supremacy, recording over 55 000 Bookings and more than 20 000 Happy Customers in just 4 months. This achievement stands testament to All New CRETA’s superior looks, feature rich package and dominant performance that has won hearts across India, even during these trying times.”

All New CRETA established its leadership in the SUV segment by attaining highest sales in the month of May and June 2020. The contribution of Diesel in the All New CRETA bookings continues to increase and is now 60% of the total bookings received, indicating a strong demand for Hyundai’s advanced and globally proven Diesel BS6 Technology. The All New CRETA is also the most researched model on India’s First and Most Comprehensive end-to-end Car Buying Platform ‘Click to Buy’ with over 30% customers enquiring about All New CRETA.

A bestseller in its segment, All New CRETA has consistently been the most admired and preferred SUV in India, with customers opting for its ultimate features such as

-          Voice Enabled Smart Panoramic Sunroof

-          Drive Mode Select

-          Traction Control Modes

-          Bose Premium Sound System (8 Speakers),

-          Auto Healthy Air Purifier with Digital Display

-          Paddle Shifters

-           Ventilated Seats

Further, All New CRETA offers a thrilling drive, powered by Hyundai’s new 1.4 l Kappa Turbo GDi Petrol (BS6) engine with 7DCT (Dual Clutch Transmission) gaining immense popularity among buyers. All New CRETA also offers customers complete peace of mind with WONDER Warranty Options - 3 Years/unlimited kms or 4 years/60 000 kms or 5 years/50 000 kms. 

Ather Energy Raises INR 84 Crores from Hero MotoCorp, As An Extension of its Series C Round

Ather Energy, India’s first intelligent electric scooter manufacturer, announced a fresh investment by Hero MotoCorp, as an extension of its Series C round that was led by Sachin Bansal. Hero MotoCorp has been a part of Ather’s growth story since 2016, when they first invested as a part of Series B. This round is a reinstatement of confidence by existing investors in Ather’s potential and success.

Ather is now entering an aggressive expansion phase on the back of its flagship product, the Ather 450X, and looking to scale to 20 cities by the end of 2021. The Ather 450X has piqued the interest of automobile and tech enthusiasts alike, and will soon be available in cities like Hyderabad, Pune, Delhi and Mumbai, with deliveries beginning in October 2020. To meet the projected demand in the coming years, Ather is opening a new manufacturing facility in Hosur, which is designed to produce 100,000 units annually, and is scalable to half a million units.  Ather Energy will also set up Ather Grid fast charging points across the country over the next 5 years, making public charging easy and accessible to all electric vehicle owners.

In the past few weeks, Ather has been working on a slew of financing and ownership models, making electric vehicles more accessible for consumers everywhere. It introduced India's first personal lease program for scooters, with monthly payments as low as INR 2589, which makes the intelligent electric scooter accessible to the Indian two-wheeler market. It has also been a pioneer in the post sales experience innovation with subscription plans, Ather One, a one-stop daily usage solution that includes doorstep pick up and service, 24X7 roadside assistance, free charging at home and in public etc.

A unique aspect of the product line is the ability to add new features and functionality through over-the-air (OTA) software updates. Ather has been rolling out OTA updates since September 2018, adding features like a dark theme, new ride modes, guide-me-home light, making them one of the fastest iteration cycles in the country.

Quote by Tarun Mehta, Co-founder & CEO, Ather Energy: “We are in a high growth phase of our journey, and while the last few months have been challenging, we have not altered our

expansion plans. Our geographic expansion and the roll-out schedule for the Ather 450X are on track, and we will be using these funds to invest in our facilities to meet the demand we have seen for the Ather 450X across the country. ”

Commenting on the investment, Rajat Bhargava, Head of Emerging Mobility Business Unit (EMBU), Global Business & Strategy, Hero MotoCorp, said “We are excited to see the growth of Ather Energy in the recent years. We see immense potential for them to expand their market even further, especially given the likely growth of electric vehicles (EV) in the near future. In addition to our efforts of developing a robust external eco-system for EVs, we are also aggressively working on our internal EV program. Our aim is to provide accessible electric mobility to customers across the globe. Sustainability and a clean, green environment remain central to our vision to be the future of mobility.”

SunnyBee Unveils India’s First Self-Checkout Grocery Store in Chennai

SunnyBee Market, a chain of food stores in Chennai has introduced India’s first-of-its-kind self-checkout store in Besant Nagar, Chennai, considering the need for a safe shopping experience by limiting contact and to improve overall speed of checkouts.

WayCool Labs – the technology arm of WayCool Foods & Products, a leading agritech firm based in Chennai has developed this custom solution for SunnyBee.

An integrated hardware and software solution, the self-checkout counter occupies a minimal 4 sq.ft. floor space with a built-in high-speed scanner, touchscreen panel, and a billing printer. The counter eliminates the need to interact with the store staff altogether. Shoppers scan their purchases on their own and place the scanned products in the conveniently hanging bags or use their own bags. With a single click on the touch screen to pay, a QR code will pop up on the screen. Customers scan this QR code on their mobile using any one of the numerous UPI payment methods such as GPay, PhonePe, Paytm, etc.

This solution frees up the store billing staff to manage the store operations and improve customer service. The only place where there is an interaction with store staff is when staff will assist the customer for F&V produce to weigh, pack, and print/paste a barcode. The F&V bags with barcode can be scanned at the Selfie counter as well.

Sriram Sridharan, Business Head, SunnyBee Market said, “There has been a steady flow of shoppers as they look to stock up during these uncertain times. Though several retailers are open through the lock down with strict enforcement of safety measures, there is a sense of uncertainty among shoppers due to multiple interactions within the store. Hence, the self-checkout solution was designed, developed, and implemented in 15 days despite the lockdown. The initial response from customers is very positive and this is evident from their excitement to use the self-checkout counter every time they walk into the store.”

SunnyBee Market, founded in July 2015, is a one-stop premium food store that offers a wide assortment of more than 5,000 SKUs across multiple categories like regular & exotic F&V, Dairy, Staples, Indian and International foods. Operating 6 stores in Chennai, SunnyBee Market also conducts SunnyBee Santhai, a farmer and consumer connect platform where farmers sell their produce directly to consumers.

Hyundai Salutes India’s Strong Spirit - Releases ‘Haq Hai Humara’ Corporate Brand Anthem

Hyundai Motor India Ltd. (HMIL), country’s first smart mobility solutions provider and largest exporter since inception, today released an anthem as a tribute to the ‘Indomitable Spirit of India’. The corporate brand anthem ‘Haq Hai Humara’ aims to bring together the people of India and salute their resolve to stand united and stay strong in this unprecedented adverse situation.

‘Haq Hai Humara’ features Hyundai Corporate Brand Ambassador Mr. Shah Rukh Khan and depicts gratitude to all frontline workers and the citizens of the country who have risen up to this challenge with their steadfast spirit and for their invaluable contribution in the fight against the COVID -19 pandemic. The anthem in association with Universal Music Group & Brands (UMGB) has been composed and sung by prolific music composer and singer Mr Vishal Mishra and written by acclaimed lyricist Mr. Manoj Muntashir.

Speaking at the release of the Anthem, Mr. SS Kim, MD & CEO, Hyundai Motor India Ltd. said, “Hyundai has become an integral part of India over the last two decades, our success is intertwined with that of our valued customers who strongly believe in the Spirit of Hyundai. Through these challenging times, we have stood by the citizens of this great nation and looking back, we must salute the standing strong spirit of India that is witnessed in the people’s fight to bring back Normalcy. Haq Hai Humara is our humble tribute to the country’s solidarity, relentless spirit and never give up attitude in these testing times. We truly believe Together We Can and Together We Will build a ‘New India’.

He further added, “As a responsible and caring brand and in-line with our Global Brand Vision ‘Progress for Humanity’, Hyundai has been at the forefront of providing relentless support to the Government of India in its fight against the pandemic. We will continue to play an active role in economic recovery and chart a path for growth.”

Despite all challenges, the team put this song together shooting from distant locations over virtual platforms. The anthem encourages and motivates each and every Individual to keep their spirit high, hoping for better times ahead.

Commenting on the spirit of this song, Mr. Shah Rukh Khan, Corporate Brand Ambassador, HMIL said, “I am proud to be a part of Hyundai’s ‘Haq Hai Humara’ anthem which is a salute to the spirit of humanity, the ceaseless commitment from the frontline heroes and the small acts of kindness all around us which are the pivots for rebuilding the nation. As we all look forward to the future, I’m sure this anthem will bring positivity and hope for a better tomorrow!”

Also commenting on the thought behind the lyrics of the Anthem, Mr Vishal Mishra, Music Composer & Singer and Mr Manoj Muntashir, Lyricist & Writer said, “Firstly we would like to congratulate Hyundai for conceptualising this song that will help bring about positivity and cheer amid this crisis. Haq Hai Humara is an expression of infinite gratitude that we all feel towards the COVID warriors. Through this song we wanted to convey that ‘Aazadiyaan, Manmarziyaan, Oonchaaiyaan,’ (freedom, free-will and the spirit to soar higher) is our right and no matter what the circumstances may be, it is our tough resolute that will get us back on our feet and help us to keep moving forward. The song is an articulation of the New India.”

Yamaha Celebrates its HERITAGE During the 65th Anniversary in India

65th Anniversary

* Yamaha Heritage of products, technologies and racing victories constitute the brand’s spirit of serving the society ~

* Yamaha also pays tribute to the frontline workers who have enormously contributed towards the society during challenging times ~

Yamaha Motor India (YMI) Group celebrated the 65th anniversary along with the global businesses under the Yamaha Motor Company (YMC) Ltd. with its HERITAGE of unique mobility solutions including two wheelers, ground breaking technologies and racing legacy. The company has planned various online and digital initiatives to recount the brand’s landmark successes of performance and innovation during the “Yamaha Day” celebrated globally on July 1 that could further help the current employees and management to cultivate “The Unique style of Yamaha”.

The brand’s motorcycle division that started in 1955 at Japan with the introduction of YA 1 had gradually rolled out some of the world’s best seller commuters and performance-driven motorcycles along the sidelines of ace technologies like 4 stroke, DOHC 5 valve engine and eventually setting outstanding records of racing championships. YMIG under its brand campaign “The Call of the Blue” has been driving the spirit of this HERITAGE with the help of a unique two-wheeler line up that are “exciting, stylish and sporty” and striking engagements and customer activities. Yamaha will run a host of customer activities on the digital space and will separately engage Yamaha employees in various craftwork initiatives to continue to transmit the brand’s uniqueness, thus redirecting from physical activities to digital initiatives as billions of people are grappling with the pandemic.

Speaking on the occasion, Mr. Motofumi Shitara, Chairman, Yamaha Motor India Group of companies said, “Yamaha’s Heritage is an outstanding tale of cutting through the constraints and develop world-class products and experiences. Since the beginning, Yamaha’s aim was to bring heart revving products and experiences that many would cherish in a world of routines and limits. The 65th anniversary is when we showcase our heritage of uncompromising excellence of innovation and performance to the world and reiterate the brand’s continuous commitment towards the society in offering more exciting, stylish and sporty products. On this occasion, the brand in India has also decided to stand with the frontline warriors who have enormously contributed towards sustaining our society.”

The company has also endeavored to offer its tribute to the frontline warriors including medical fraternity, teams handling emergency, civil and essential services through a new campaign “Yamaha Salutes Frontline Warriors”. All two wheelers and four wheelers used by the employees along with the company’s transport would display the illustrative stickers in support of the campaign, a balloon signage will also being installed at OMR, Chennai near to the company head office while the teams at Yamaha’s Chennai plant have offered their support with the help of a unique vehicle formation saying ‘Thank You’. The company has also launched a Social Media campaign “Yamaha salutes frontline warriors” in which various employees from across pan India offices of the company along with dealers and customers can be seen to have come together to offer their support and thanks to the frontline warriors.

StanChart to open KPO in Bangalore; Hire 2,000 staff

Foreign lender Standard Chartered Bank plans to hire around 2,000 employees in India in the current financial year, a top official said.

The bank currently has around 8,000 employees in the country.

The banking major has also plans to open an office of its knowledge process outsourcing network -- Scope International-- in Bangalore by October, StanChart's Chief Operating Officer, India and South Asia Sreeram Iyer told reporters here.

At present, Scope International has offices in Malaysia, China and Chennai.

It employs over 7,000 employees in its Chennai unit.

Agencies

Mahindra Satyam BPO on a hiring spree; To hire 300 by Sept

At a time when software firm Mahindra Satyam is rationalising its headcount, its BPO arm seems to be on a hiring spree with plans to recruit 300 employees by the next month.

The company has recently bagged a major contract from a domestic client for providing it back office support.

“To support the client we have already hired 700 employees in the last one month and will hire another 300 by the end of next month," Mahindra Satyam BPO CEO Vijay
Rangineni said.

However, he declined to divulge the name of the new client or the deal size. According to sources, the new win is in the telecom space.

The total headcount of the company after the recruitment would stand at 2,900. Though the parent firm Mahindra Satyam have a considerable presence in the domestic market, this is the first major win by Mahindra Satyam BPO in the domestic space.

Rangineni further said the company would now focus on the sizeable domestic market.

"Post the acquisition by Tech Mahindra, we now have a footprint globally and will leverage the strengths of Tech Mahindra wherever they are present," he said.

Mahindra Satyam BPO has one delivery centre each in Hyderabad, Bangalore, Chennai and Pune. The company, however, do not have a global delivery centre so far.

Agencies

Will Nissan unit shift from UK to Chennai lead to job losses?

Japanese major Nissan has decided to shift the entire production of its small car Micra from the UK and relocate it to India. After production of the Micra begins here, Nissan plans to manufacture four more models in India, involving a total investment of over Rs 2,000 crore.

The move underlines the rush among automakers to rationalise production costs and move to locations that offer the best value and quality. “We have decided to shift the production of the Micra compact car from our UK plant and manufacture it in India at our upcoming factory at Oragadam, near Chennai,” Nissan India MD and CEO Kiminobu Tokuyama told TOI here.

The company’s Chennai plant will start production from May next year, and the export markets would be catered to from autumn, Tokuyama said. Nissan, he said, plans to meet Micra’s requirements for the entire European region as well as some other markets like Middle-East from the Chennai plant. “We plan to initially start with export volumes of 1.1 lakh units, which would be gradually scaled up to 1.8 lakh units as demand goes up,” Tokuyama said. But what has prompted the company to take such a step, uprooting manufacturing presence from an established base and shifting to an all-new location. “There are many benefits to count in India, and these include a high-quality vendor base that is also cost effectiveness, leading to globally-competitive pricing,” Tokuyama said. Also, the technological skills in India are of a high quality, he added.

Nissan’s move points to the growing importance of India in small car manufacturing, which was initiated by the Government by way of lower manufacturing tax (excise duty) on them. The rising scale of small car production in India also sweetens the deal in favour of the country as component makers have improved on quality and scale, making them a safe and a reliable bet. Lower wages in the market, and relatively high engineering skills, is another big advantage that attracts companies.

Times of India/Agencies

Larsen and Toubro to set up commercial banks

The financial services arm of construction and engineering major Larsen and Toubro (L&T) is planning to set up a commercial bank as part of its efforts to have a presence in the entire gamut of financial services in the country.

L&T Finance, which already holds 4.69 percent in City Union Bank, said here Thursday that there were related advantages of starting a bank especially to provide services to corporate partners.

Apart from L&T Finance, the group has floated another non-banking finance company (NBFC), L&T Infrastructure Finance, as well as incorporating a general insurance company, L&T General Insurance.

"Our long-term vision is to be present in the entire gamut of financial services including asset management, general and life insurance and bank. Our vision is to be a wholesome financial services player but no time frame has been fixed to achieve that," said Larsen and Toubro's executive vice president for financial services N. Sivaraman.

Various options will be looked at -- going alone, partnering another company or acquisition -- before a decision is taken, Sivaraman told reporters.

However, Larsen and Toubro's first expansion move in the financial services field will be in the general insurance sector through its investment arm L&T Capital Holdings.

"We don't find a need for a foreign partner for funds. For assessment of risks, it is actually based on local experience. A foreign partner brings in expertise in pricing of the risk. We can do that on our own," Sivaraman said.

According to him, though there are talks about the Indian general insurance sector moving towards consolidation, buying out the stakes of existing promoters did not enthuse Larsen and Toubro.

"The foreign promoters of Indian general insurance companies are here for the long run. Further, an existing company may come with a baggage which we do not want."

The non-life insurance company is expected to start business in 2010.

About floating a bank, Sivaraman said: "There are relative advantages of having an NBFC and a bank."

"There are two agendas for holding a stake in a bank. The first one is to have a share in the business. The second is the availability of banking services to our trade partners in opening letters of credit and other banking products."

The lending portfolio of Larsen and Toubro's two NBFCs at the end of last fiscal stood at around Rs.7,500 crore, which is expected to grow this year.

L&T Finance will also raise Rs.1,000 crore through issue of non-convertible debentures for business deployment.

Agencies

Will Capgemini layoff 100 in Chennai?

Consulting and outsourcing firm Capgemini has laid off nearly 100 employees at its Chennai centre.

The pink slips were issued for employees mostly in the middle management positions. This comes on the back of reports that said Capgemini sacked 600 employees in Hyderabad and Pune. The company has nearly 20,000 people working in India.

An employee said the layoff across centers was because of the overall economic slowdown, which was impacting the company’s project flow and clients.

“While some clients have ramped down on the size of contracts, other projects, like the Lehman Brothers account closed after the company’s collapse. Apart from the middle management, some employees on probation were also asked to leave,” said the employee at one of the company’s locations, who did not wish to be named.

When contacted, Capgemini India’s chief people officer Cyprian D’Souza said through an email, “India is central to our global delivery model and we are in the process of mapping our existing skills with the business in hand and the business outlook. The economic condition is tough and no company is immune to its effects.”

D’Souza added that the industry was seeing an overhaul within all the affected verticals. “The process though tough, has to be undertaken to align our business with global economic realities, optimise operational efficiency, ensure financial health and enable future growth.”

For the first quarter of 2009, Capgemini group posted consolidated revenues of Euro 2,205 million, up 0.9 per cent compared with the year-ago period.

Agencies

US firm sets up welding consumables facility in Chennai

The US-based welding consumables product company Lincoln Electric inaugurated its $20-million plant near Chennai Monday.

The 100,000 square feet plant in Mahindra World City, a special economic zone (SEZ), has an initial production capacity of 15,000 tonnes per annum.


"The Chennai plant is an important investment for Lincoln in the expanding market for welding products in India," Lincoln chairman and chief executive John M. Stropki told reporters while inaugurating the facility.

The new plant will manufacture solid welding wire used in industry segments like such as heavy equipment, metal buildings, pipeline and windmills.

Agencies

Logica on a hiring spree in India

At a time when adding new jobs is being taken out from the agenda of most of the companies, IT and business services company Logica plans to recruit about 3,000 people by 2009, in which 2000 will be in Chennai. The remaining jobs will be in Philippines, Czech Republic and Morocco, reported The Times of India.

The company provides consulting, outsourcing solutions and services and blended delivery services across many industry verticals. In India, it provides support services like infrastructure management, BPO services and financial accounting outsourcing.

"Logica employs 5,700 people and plans to ramp it up to 8,000 by the end of this year," said Abhay Gupte, CEO, Logica India. Logica's Chennai center has about 900 employees.

Agencies

Has TCS extended working hours?

Tata Consultancy Services (TCS) has increased its working hours to 45 hours per week from 40 hours effective April 1. This effectively means that employees will have to put in an hour more every day.

The biggest software exporter has also decided to fire around 1,300 employees or 1 per cent of its global workforce this year. This roughly works around one percent of its global workforce.

These employees failed to meet performance standards, according to a company spokesperson said.

About 100 employees have already been sacked in Chennai alone in the last two weeks, sources in TCS told the media.

This comes in the wake of recent announcements by the company’s MD S Ramadorai 10 days back that variable pay of employees is being reviewed this year, to counter the tough economic situations across the globe.

The IT major has also increased working hours to 45 hours per week from 40 hours effective April 1. The TCS sources said in the last two weeks alone the company has sacked about 100 people after they were found wanting in their performance appraisal.

Agencies

Is TCS likely to lay off 1,300 staffers?

India’s biggest software exporter by sales, Tata Consultancy Services (TCS), will lay off less than a percent of its global workforce over the next few months, as these employees failed to meet performance standards, a company spokesperson said.

This roughly works out to 1,300. The company has a total employee count of around 1.3 lakh.

IT companies are adopting stringent appraisal, cost-trimming and productivity-boosting measures as they grapple with the global economic slow down.

TCS employees said on condition of anonymity that lay-offs have started at the company’s development centres in Chennai, where over 200 employees have been asked to leave in the last fortnight .

When contacted, a member of the TCS corporate communication team confirmed the development but did not put a number or place to it.

Agencies

Are salaries at Indian IT MNCs melting?

Software multinationals in India have begun freezing wage increases, slashing salaries and postponing merit-based hikes, a study by Indian consulting firm Zinnov has found.

"Though Bangalore stands highest in its average salary for multinational R&D firms, followed by Pune and Chennai, the economic slump is causing undue pressure on them to retain compensation levels," Zinnov director for advisory services C S Chandramouli, said after the survey was made public.

Hinting that IT salaries in 2009 would see a freeze across the board in a majority of the firms surveyed, Chandramouli said the average increment would be in the 5-12 per cent range.

"Of the 30 representative multinationals surveyed in these three cities (Bangalore, Pune and Chennai), 27 per cent of them said they have frozen salary increases this year, while 42 per cent said they would provide salary increases and 15 per cent have postponed their merit increase cycle to take a call at a later stage if the economic scenario changes," Chandramouli said.

As a preferred destination for IT services and R&D, about 680 multinationals operate in India. Many of them have more than one R&D centre and presence in one or two of the three cities surveyed.

According to Zinnov's annual report on "Compensation and Benefit Study 2009", 12 per cent of the MNCs have announced 5-10 per cent salary cuts either for senior management or across levels.

"The survey highlights that multinationals are also shifting focus to the variable pay component to reward and retain top performers as opposed to fixed pay. Some of them have even restructured their compensation, linking employee rewards to individual and organisational results," the report said.

Referring to the adverse impact of the tough economic conditions on the compensation budgets, Chandramouli said MNCs were attempting to balance their need to retain key talent and address concerns over wage increase.

"Organisations are being proactive in managing people cost as it constitutes about 62 per cent of the total operating cost," he noted.

Highlighting compensation trends across functions like engineering, quality assurance testing and technical architects, the report said senior positions such as engineering manager and director engineering continued to be on a rise, with an average 8 per cent increase.

As India's IT hub, Bangalore, however, continues to dominate the compensation index, especially in software product and R&D. "Bangalore engineers are paid 5 per cent higher than their counterparts in Pune and 8 per cent higher than in Chennai for engineering and quality positions," Zinnov consultant Sahana Shetty said.

However, average salaries of senior positions in the three cities are similar, though average salaries at junior positions are two-three per cent higher in Bangalore. "Employees are not clear if they will be laid off or if the projects they are working on will be de-prioritised. They are also concerned about the financial health of the parent company. Employees are frustrated with cost cuts for what seem like inexpensive benefits (snacks, lunch, office parties, etc)," Shetty added.

Agencies

Survey reports 38% recruiters anticipate new jobs in 2009

Thirty per cent of recruiters anticipated new jobs to be added in 2009 while 9.5 percent predicted layoffs, according to a recent survey.

Over 40 per cent recruiters in pharma, IT, ITes, retail, telecom, banking feel that there will be creation of new jobs in 2009, the survey, covering over 1500 recruiters and conducted by Naukri.com, a leading job website, said.

According to the survey, 37.8 percent expected replacement hiring while 14.3 percent expected freeze on recruitment procedure.The real estate industry expected a 16 percent layoffs in the sector in the coming months.

As per the survey, the overall job index fell from 776 in November to 697 in December 2008, a drop of 10 per cent in new jobs. Overall, it implied a 31 per cent decline in new jobs since July 2008.

City wise, Delhi, Bangalore, Chennai and Kolkata witnessed a decline in new jobs. Most of the cities saw a decline in jobs, notably Delhi - NCR, registering a drop from 841 in November to 697 in Decmber.

Mumbai moved up marginally from 692 in November to 717 in December. Ahmedabad, Chandigarh, Cochin, Baroda, where jobs grew or declined by a small margin, remained less affected.

Agencies

No job losses in BPO sector, says Nasscom

Software and BPO industry body Nasscom on Wednesday said the business process outsourcing sector is not in the danger of losing jobs due to the ongoing economic downturn rather a net hirer in the current fiscal.

In a statement here Nasscom said, "Media reports suggest that the Indian BPO industry will see 2.5 lakh job losses by the first quarter of 2009, in the wake of downturn in the US and other developed economies. NASSCOM's research
and interaction with its member companies is not in support of this statement.

Our detailed industry performance and forecast for FY09 will be released in the next fortnight. However, on employment the industry will continue to be a net hirer in FY09 as a direct corollary of industry growth and fears of large scale job losses at an industry level are unfounded."

The industry body's comment comes in the wake BPO Industry Association President Samir Chopra stating that "severe job loss is expected because of recession.

We are going to request for a fiscal package from the Government but if that doesn't happen, then there be huge amount of losses in terms of manpower. I think a quarter of a million jobs will go."

The $11-billion BPO sector employs about seven lakh people.

Source: Agencies

No global impact; ACS to hire 1,000 in India

Amid gloomy scenario in the global job markets, hiring in India is continuing at a strong pace with world's largest business process ou tsourcing firm Affiliated Computer Services planning to recruit 1,000 people in the next 6-8 months in the country.

"We are looking to increase our headcount by 1,000 employees in India in the next 6-8 months, out of which about 500 would be employed in our new facility at Noida, which is in the process of being set up," ACS India Country Head and Vice President Aman Mustafa said.

The company is in the process of setting up a new facility in Noida, while it already has offices in Bangalore, Kochi and Chennai and the total employee strength of the company is around 5,000 in the country. Bangalore operation has a capacity of about 2,800 people and around 1,800 people are stationed in Kochi.

"Despite the global economic crisis our business has not been affected and our existing and new clients have been approaching us for services to reduce their costs," Mustafa said.

Mustafa further said that ACS Inc's balance sheet is stable with strong cash flows amid the economic downturn, even as its shares have taken a beating at the New York Stock Exchange. The global firm has a market capitalisation of over 3.86 billion dollar.

Recently, a host of firms, including Metlife India, Deloitte Touche Tohmatsu, State Bank of India, Larsen and Toubro are planning to recruit over 70,000 people in the country.