Fiscal year | Business Upturn

Tech industry headcount set to reach 5.43 Million by March: Nasscom

Tushar Aggarwal — Fri, 16 Feb 2024 11:00:18 +0000

The technology industry is gearing up for a substantial increase in its total headcount, with projections indicating a figure of 5.43 million by the end of this fiscal year in March. This forecast, released by industry body Nasscom, underscores the sector’s robust growth and resilience in the face of global challenges.

The tech industry has long been a driving force behind economic development and job creation, and these latest figures further solidify its pivotal role in the economy. Despite the disruptions caused by the COVID-19 pandemic and other uncertainties, the industry has shown remarkable adaptability and agility, enabling it to continue its expansion trajectory.

Nasscom’s projections reflect not only the industry’s current strength but also its optimistic outlook for the future. The increase in headcount is expected to be driven by a variety of factors, including continued digital transformation efforts across industries, increased demand for technology services, and the emergence of new technologies and business models.

One of the key drivers of this growth is the ongoing shift towards remote work and digital collaboration, which has accelerated the adoption of digital technologies and services. This has created new opportunities for tech companies to innovate and expand their offerings, leading to an increased demand for skilled professionals in areas such as cloud computing, cybersecurity, data analytics, and artificial intelligence.

Another factor contributing to the growth of the tech industry is the increasing focus on digitalization and technology adoption by businesses across sectors. As companies seek to enhance their digital capabilities and stay competitive in a rapidly evolving landscape, they are turning to technology solutions and services to drive growth and efficiency.

Nasscom’s projections also highlight the importance of upskilling and reskilling initiatives to meet the growing demand for tech talent. As technology continues to evolve at a rapid pace, there is a need for professionals to continuously update their skills and knowledge to remain relevant in the industry.

Nasscom’s projections for the tech industry’s total headcount reflect a positive outlook for the sector, highlighting its resilience and growth potential. As the industry continues to drive digital transformation and innovation, it is poised to play an increasingly vital role in driving economic growth and creating employment opportunities.

Nomura initiates coverage of Zomato, sets target price and 19% downside

Yakita Somani — Mon, 22 Aug 2022 08:54:46 +0000

Foreign brokerage Nomura started following Zomato and set a target price of Rs. 50 and a “Reduce” rating. The target indicates a potential 18.56% decline from the closing price of Rs. 61.40 on Friday.

Nomura India stated that achieving a double-digit contribution margin in the food delivery (FD) industry is a difficult task and that it anticipates Zomato’s food delivery business to reach profitability by Q1FY24, excluding Blinkit, at the adjusted Ebitda level. It claimed that in a market with a duopoly, disciplined execution would drive this.

Zomato reported earlier this month that its food delivery service had achieved profitability. By March 2023, the food aggregator, based in Gurugram, hopes to achieve overall break-even.

Zomato’s long-term goal of achieving a double-digit contribution margin “depends on a rise in commissions from restaurants (we expect it to rise from 15% in FY22 to nearly 17.5% in FY31F) and charging higher customer delivery fees (we believe this would be difficult, and expect it to remain steady at 6%),” it said.

The brokerage anticipates a contribution peak of 7.5% margin overall. In markets where online FD is more established and consumers are more willing to pay for convenience, it anticipates a 4.5% adjusted Ebitda margin on gross order volumes (GOV) by FY31 compared to global FD companies’ long-term targets of 4-8%.

Union Budget 2021: Six pillars explained

Sanah Shah — Mon, 01 Feb 2021 10:32:46 +0000

The Finance Minister Nirmala Sitharaman presented the Union Budget for the fiscal year 2021-2022 today commencing at 11 AM in the Lok Sabha. She stated the 6 pillars that the budget rests on. They are mentioned and explained below –

Health and well-being – The government has introduced PM Aatmanirbhar Swasth Bharat Yojna with an outlay of Rs 64,180 crore over 6 years to bring impetus to the healthcare industry and bring about a positive change. The health and well-being of citizens has been brought to importance during the COVID-19 pandemic when hospitals were in utmost of need. This scheme attempts to strengthen primary, secondary and tertiary healthcare in the country.
Financial capital and infrastructure – FM Nirmala Sitharaman announced that there will be an introduction of a bill to establish a development financial institution. This institution will be launched with Rs 20,000 crore to finance infrastructure projects and further the infrastructural growth. Along with that, capital expenditure has been raised which provides a positive impact for firms supplying capital goods. This adds onto the infrastructure growth as well.
Inclusive Development for Aspirational India – As part of Inclusive Development for Aspiration India, the FM proposed 9 measures to promote the agricultural sector –1) SWAMITVA Scheme 2) Agricultural credit target increased to Rs 16.5 lakh crore in FY22 3) 33% increase in Rural Infrastructure Development Fund 4) Micro Irrigation Fund has been doubled 5) Operation Green Scheme – ‘TOPS’ will include 22 more perishable products 6) 1,000 more mandis to be integrated with e-NAM 7) APMCs will get access to Agriculture Infrastructure Fund 8) Development of 5 major fishing harbours proposed 9) Multipurpose Seaweed Park to be established in Tamil Nadu.
Reinvigorating Human Capital – The government aims to revitalize human capital by reimagining Human Resources in the world of technology.
Innovation and Research & Development – Innovation and R&D have been offered a boost. The very first example can be the outlay of Rs 35,000 crore given to vaccines for COVID-19.
Minimum Government, Maximum Governance – The principle of minimum and maximum government means that despite being less interventionist in nature, the government will aim to meet all goals and outcomes. Minimum government emphasizes reducing layers of decision-making to fasten processes and reduce red tape. PM Modi has previously stated his belief in Minimum Government, Maximum Governance to run the country.

The FM Nirmala Sitharaman’s budget has been graced with a warm-hearted welcome and hopes for a better economy.