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Smaller cities are leading the way when it comes to video commerce, The Economic Times reports, citing data from Flipkart. Consumers in Tier 2 and 3 cities accounted for 65% of all video commerce engagement between May 2023 and June this year. The most in-demand categories were beauty, fashion, personal care, and home furnishings, the data shows. As a shopping format, video is gaining traction, especially among women in Tier 2 and 3 regions, and Gen Z and millennial customers, the report says. In fact, D2C brands, sellers, and farmers are increasingly relying more on video offerings. Reason? Reliability, interactivity, trust, and ease of access. Overall, Indians spent more than two million hours on Flipkart’s video commerce segment, the data shows further. Not only video or online commerce, but the retail sector is booming across India’s smaller cities, according to an earlier report by The Economic Times. The total retail stock in 14 Tier 2 cities crossed 29 million sq.ft. last year, with Lucknow, Jaipur, and Chandigarh taking the lion’s share, says CBRE data. Source: The Economic Times - https://lnkd.in/gE8JunwJ, https://lnkd.in/gRtmNMKT ✍: Abhiraj Ganguli 📷: Getty Images #ECommerce #VideoCommerce #Tier2 #Tier3 #Retail

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Contractual hiring is on the rise in India's information technology space, reports Prachi Verma for The Economic Times. This report comes after a year of scaled-back hiring and layoffs in the sector. An uptick in contractual hiring often signals an improvement in demand activity for IT service providers — a trend often followed by hiring for permanent roles, adds the report. The current contractual hiring rate has spiked by 40-50% over the same time in 2023, says Neeti Sharma, CEO at TeamLease Digital. She adds that the increase indicates an urgent need to expand the workforce after a period of reductions. In the January-March quarter, Michael Page saw a 22% year-on-year jump in overall contracting, which includes IT services firms, adds the report. Skills in high demand in the technology staffing space? Data analytics, AI/ML, and Google Cloud, said Pranshu Upadhyay, Regional Director at the firm. According to industry experts, firms increase contract hiring depending on factors like their strategies to prepare for future demand, order book positions, and specific client demands. Other talent trends shaping the IT space include an anticipated jump in fresher hiring in FY25, and a significant churn in IT leadership — 4,500 in the last 12 months — according to reports. Source: The Economic Times - https://lnkd.in/d9ymH3UK businessline - https://lnkd.in/gmbVAafR Business Standard - https://lnkd.in/g4i33SE9 ✍: Isha Chitnis 📷: Getty Images #ITHiring #ContractualJobs

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More insurance firms in India are planning to increase their headcount, reports suggest. For instance, Zurich Insurance Group AG plans to hire 600 people over the next three years, The Economic Times reports. The areas in focus include digital development, commercial insurance underwriting and distribution, and product and proposition development. The company recently acquired a majority stake in Kotak Mahindra Bank’s general insurance unit. Bandhan Life plans to recruit 1,000 new employees as part of its five-year strategy, says another report by The Times of India The company plans to invest heavily in technology and data-driven processes. Shriram General Insurance also plans to hire 700 people, the majority of which will be focused on marketing roles, according to businessline. India provides the strongest route of growth for insurance among emerging markets with opportunities to grow in areas such as commercial, small and medium enterprise, assurance, auto, and general insurance, says Tulsi Naidu, CEO - Asia Pacific at Zurich Insurance. Source: The Economic Times - https://lnkd.in/eBfUY4MK The Times Of India - https://lnkd.in/em-8bs9w businessline - https://lnkd.in/esD8BUne ✍: Preethi Ramamoorthy 📸: Getty Images #Insurance #InsuranceJobs #InsuranceMarket

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Fresher hiring in India’s software services companies recorded a two-decade low in FY24, Ashutosh Mishra reports for Business Standard, citing data from HR firm Xpheno. While 200,000 freshers were hired annually before the pandemic, the FY24 count stood between 60,000 and 70,000, the report adds. Due to a global slowdown in demand, there’s been a decline in recruitment across top IT companies. According to Alliance University’s Vadivelan Gopal, additional hires from 2022 and 2023 are currently being integrated into the workforce after going through training programmes. And Nascent Information Technology Employees Senate’s President Harpreet Singh Saluja shares that 10,000 freshers who got job offers in the last two years are yet to be onboarded. However, there are prospects for young graduates in sectors like BFSI, manufacturing, consulting, hospitality, retail and consumer goods, Uma Kannan reports for The New Indian Express. So, how can young professionals increase their chances of getting hired? XLRI Delhi’s Dean of Academics Rajeev Roy shares the following tips: ✅  Include micro credential and certifications in applications to highlight in-demand skills. 📝 Mention projects, internships, case competitions, and participation in committees. 📄 Customise CV with relevant keywords. ➡ How can students improve their employability skills while in college? Share your take in the comments below. Sources: https://lnkd.in/g_uMa7RC Business Standard: https://lnkd.in/g6tnzQMs The New Indian Express: https://lnkd.in/ghuPpQdD ✍: Dipal Desai 📸: Getty Images #freshers #hiring

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The number of frauds in the banking sector is on the rise, Sharmila Bhadoria reports for Livemint, citing data from the Reserve Bank of India (RBI). Cases increased by nearly 300% in the last two years to 36,075 in FY24, data shows. However, the amount involved has fallen from ₹45,358 crore to ₹13,930 crore. More instances were reported from the digital payments segment, the report says. While private sector banks reported the maximum number of frauds over the last three years, public sector banks contributed maximum to the fraud amount. There was a significant time lag when it came to detecting bank frauds, the RBI said. “Customers should protect their interests by being aware of fake websites, links, and other methods. Banks should continue to strengthen firewalls guarding their core systems and invest in customer engagement,” says Arvind Arya, former EVP at Axis Bank. A recent report by the Indian Cybercrime Coordination Centre revealed that digital financial frauds accounted for ₹1.25 lakh crore over the last three years. Source: LiveMint - https://lnkd.in/gXjYQ4QG ✍: Preethi Ramamoorthy 📸: Getty Images #FinancialFraud #BankFraud

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The latest data from the Reserve Bank of India (RBI) reports rising fraud in the banking sector, especially in the digital domain. The fact that both public and private sector banks have been significantly impacted by these attacks stresses the need to embrace higher standards of cybersecurity. Adopting a DevSecOps development approach, strictly adhering to the OWASP design principles, and implementing two-factor authentication are some of the practices we adopt to build digitally secure software products. What security practices do you adopt to ensure a secure and stable software product? Let us know in the comments section. #cyberfrauds #banking #fintech #itservices #itservicesprovider #itservicescompany #softwaredevelopment #softwaredevelopmentcompany #softwaredevelopmentservices #softwaresolutions #softwaresolutionscompany #softwaresolutions #softwareengineering #cloudesign

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E-commerce companies like Flipkart and Amazon are aiming to expand their beauty and personal care (BPC) segments into smaller cities, Suneera Tandon reports for Livemint. This is because there has been significant growth in the segment driven by increased disposable income of consumers, the report says. Manjari Singhal, Head of Business - FMCG and General Merchandise at Flipkart, believes that there is great potential for this segment to grow in smaller cities. Innovation in D2C brands and new launches will be the primary growth drivers, she adds. On the other hand, Amazon plans make BPC products accessible to every pin code in India, the report says. Apart from faster deliveries, the company is enlisting new homegrown and global brands while also roping in influencers. New-age D2C brands are also becoming investor favourites, says another report by The Economic Times. While beauty platform Purplle has raised $100 million from an Abu Dhabi-based sovereign fund, skincare brand Foxtale has also received funding from Panthera Growth Partners, the report says. Source: https://lnkd.in/g6Cqc7r3 https://lnkd.in/gtBpt-HV ✍: Divya Pathak 📷: Getty Images #BeautyAndPersonalCare #SmallerCities

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‘2 million interns a year?’ PM’s scheme makes corporate India anxious 👇 Even as corporate India faces a skill deficiency in talent, they seem confused as to what to make of the 10 million youths expected to join them as interns in the next five years, reports Debanjali Biswas. Click the link in the comments. --------- #TheKen #Internship #InternshipScheme #Corporate #CorporateIndia

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Hello #LinkedIn 🔔 It's a #socialsaturday, Please send me connect request, I will accept first. #LetsConnect #ConnectWithUs #CommunityConnection #NetworkingNights #TogetherWeGrow #JoinTheConversation #ConnectAndCollaborate #BuildingBridges #StrongerTogether #LetsGetSocial #usa #canada

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The travel and tourism industry is booming in India post-pandemic, which is leading to companies hiring more people, Riya Tandon reports for The Economic Times. What job roles are up for grabs? Marketing, HR, finance, IT, and business development need more fresh graduates and post-graduates. Management trainees from top hotel management schools and freshers from vocational training institutes are sought after for positions like customer service and retention, front office, and food and beverage production, says the report. Arun Bagaria, co-founder of TravClan, says that there is growing demand for roles in operations, as well as those in managing reservations, customer support, and processing bookings. How can new hires succeed? Experts suggest acquiring a combination of technical, soft, and behavioural skills, the report says. The industry is set to add about 5.82 crore jobs by 2033, another Economic Times report says, citing a survey by NLB Services. The industry accounted for 39 million jobs in 2020 and saw a 44 percent increase in demand for talent by August 2023. The top five states attracting the most domestic tourists are Uttar Pradesh, Tamil Nadu, Andhra Pradesh, Karnataka, and Maharashtra, adds the report. Source: https://lnkd.in/g6GQMcAJ ✍: Novinston Lobo 📷: Getty Images #TravelAndTourism #TravelJobs

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Startups in India are actively working to decarbonise EV batteries and make them sustainable, reports Garima Bora for The Economic Times. The production of lithium-ion batteries that powers EVs, account for 40-60% of EV production emissions, McKinsey & Company estimates. Rare earth materials are mined for the production of batteries causing pollution. Moreover, spent lithium-ion and lead-acid batteries are often discarded in landfills, says the report. How are environmentally conscious startups battling this? Nexus Power extracts nanodot proteins from crop residues to power batteries. Cancrie uses coconut shells to produce nanomaterials for batteries, which also works as an alternative to nanocarbons that are often imported from abroad. Metastable Materials use chemical-free technology to extract about 90% of products from the disposed batteries. BatX Energies extract valuable metals like nickel and cobalt from used batteries and produce recyclable objects. The battery recycling market in India is expected to surge from $0.1 billion in FY23 to $1 billion by FY30, says Avendus Capital. Source: The Economic Times - https://lnkd.in/gFyxhrG9 ✍: Novinston Lobo 📷: Getty Images #Sustainability #EVPower

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More retail giants are eyeing the quick commerce space in India. For instance, Flipkart launched 'Minutes', its quick commerce platform on Tuesday, The Economic Times reports. The service is now live across selected areas in Bengaluru and the company aims to boost its presence throughout the city over the next few weeks, the report says. Flipkart also plans to make nearly 100 dark stores operational across Bengaluru as it gears up for the festive season this year, the report further says. Similarly, Amazon and Jio Mart are also planning to launch their own quick commerce services, according to earlier reports. Rising popularity of rapid delivery systems, especially among younger consumers, is one of the key factors that has led to this trend, says another report by The Economic Times. Moreover, quick commerce accounts for nearly 5-6% of a household's grocery spending, the report adds. Source: https://lnkd.in/gvSKu6cr ✍: Divya Pathak 📷: Getty Images

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Indian students are casting a wider net in terms of institutions and destinations when it comes to studying abroad, Sunainaa Chadha reports for Business Standard, citing a survey by INTO University Partnerships. Around 93% of the 213 education counsellors surveyed in India shared that students are targeting more universities than before, while 91% admitted to having applied to more destinations. Students are also working with multiple agents to secure admissions, the report adds. Reasons for this development? Limited availability of visa appointments, delays in visa decisions, lack of clarity due to an evolving landscape, and a growing need for back-up plans, the survey shows. With lower tuition fees and competitive post-study work opportunities, countries like Germany and Ireland are gathering interest from students, the report says further. Affordability and career prospects are major factors that influence the decision for parents and students, says Diwakar Chandiok, Vice President of Recruitment of South Asia, INTO. Source: Business Standard: https://lnkd.in/gm2eWDAp ✍: Dipal Desai 📸: Getty Images #students #studyabroad

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Quick commerce players in India are now using data to select a location to launch their dark stores, Financial Express reports. The data points include shopping patterns, traffic in the area, road condition, demographics, and internet penetration, the report says. As the quick commerce market has seen significant growth in the last couple of years, opportunities in the sector are huge, the report says. In fact, this year the market is set to generate a revenue of $3,349 million. As a result, quick commerce players are looking to launch more dark stores to cater to consumer demand. Shashank Randev, Founder, VC and Co-founder of 100X.VC, says that companies are employing data-driven models to offer enhanced warehousing services and delivery logistics. Additionally, to ensure smooth delivery, these players also have strategically located primary and secondary stores to take orders during peak traffic hours, the report says further. When it comes to choosing a location for these dark stores, gauging transportation networks, connectivity to major roads, and availability of storage facilities is paramount, says Ankur Bansal, co-founder and Director of BlackSoil Capital. To ensure a competitive advantage, it is important for quick commerce companies to maintain secrecy about the location of such stores, the report adds. Source: https://lnkd.in/gXfrf-7P ✍: Divya Pathak 📷: Getty Images #QuickCommerce #DarkStores

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India's retail sector has seen significant growth in the last few years, The Economic Times reports. And with that, jobs have also surged. New job opportunities in retail rose by 18% last year and it is projected to grow between 15-20% this year, says a recent report by Gi Group. In fact, 52% of retailers are looking to hire fresh graduates this year, the report further says. LinkedIn data shows that retail is one of the fastest-growing industries in India for young professionals with a bachelor’s degree. And software engineer is one of the top jobs in the industry, the data shows. What skills do retail companies look for when hiring a software engineer? “In the retail industry, we seek software engineers who possess a blend of technical prowess and an understanding of retail dynamics. Familiarity with mobile app development and a keen interest in emerging technologies like AI, machine learning, and blockchain can set candidates apart,” says Ramakrishnan KR, HR Strategy at Reliance Retail. The integration of newer technologies and adoption of digital infrastructure have changed the face of retail, says another report by The Economic Times. Therefore, tech innovation is paramount when it comes to driving growth. And software engineers play a crucial role in implementing data analytics, allowing retailers to gain insights into consumer behavior, inventory management, and market trends, Ramakrishnan says. By leveraging these insights, companies can personalise offerings, improve customer retention, and make informed business decisions, he adds. As the retail landscape continues to evolve, understanding changing consumer behaviour is important. So, it is crucial for software engineers in retail to understand the end-users of the technology, which may range from people in a metro city to a remote village, and look at ways to personalise the technology for specific needs and requirements, Ramakrishnan adds. What are the fastest-growing industries for freshers? Check out LinkedIn’s 2024 Guide to Kickstarting Your Career report here: https://lnkd.in/e7XuWz-S ✍️: Divya Pathak 🔢: Yao Huang, LinkedIn's Economic Graph Source: https://lnkd.in/gPhFpHNz

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Indians have founded 109 offshore unicorns — the highest compared to any other country, reports The Economic Times, citing Hurun Research Institute's Global Unicorn Index 2024. Meanwhile, Indians founded 67 unicorns in India, with Swiggy and Dream11 in the lead — both worth $8 billion, adds the report. When it comes to unicorns outside India, the United States claimed the highest share with 95 firms, followed by the United Kingdom at four, and Singapore at three. What does the future hold for unicorns in India? Almost 20 soonicorns are set to join the club, and the number of unicorns is expected to go up by a fifth in FY25, Janaki Krishnan reports for businessline, citing Inc42 data. Startups that could hit the milestone include Bookmyshow, Navi, Paymate, Refyne, Clear, Ind Money, Jupiter, Ninjacart, Turtlemint, Leap, and Biz on Go. India had 112 unicorns at the end of the last fiscal year with a collective valuation of over $350 billion, according to Invest India data. Only two startups joined the unicorn club in 2023, compared to 22 in 2022. Which startups do you expect will join the unicorn club in 2024, and why? Share your take in the comments. Source: The Economic Times: https://lnkd.in/eH-FSVj6 businessline: https://lnkd.in/e5xPYfJd ✍️: Isha Chitnis 📸: Getty Images

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More Indian consumers are increasingly becoming image-conscious due to social media, Financial Express reports, citing a survey by GlobalData. Social media drives the purchase decisions of more than three in 10 Indian consumers, according to the survey. And as a result, more people are preferring to buy international beauty brands. Looking good has become an important part of being successful and therefore, consumers are aligning with brands chosen by celebrities, says Meenakshi Haran, Lead Consumer Analyst at GlobalData. What’s driving this trend? India’s young population and strong internet penetration, the report further says. India’s cosmetics and beauty market is set for robust growth in future, says Francis Gabriel Godad, Consumer Business Development Manager at GlobalData India. This points to more opportunities for beauty brands operating in the country as well as those from abroad to enter the Indian market, he adds. Source: https://lnkd.in/gqHPgWRe ✍: Divya Pathak 📷: Getty Images #BeautyBrands #Retail

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India’s banking, financial services, and insurance (BFSI) sector is set to see a surge in hiring during the first half of FY25, The Economic Times reports, citing a study by TeamLease Services. While the banking industry is projected to see a 7.21% rise in net employment, NBFCs are expected to record a 5.41% increase, thanks to their expansion plans. The need for regulatory compliance, cybersecurity, and enhanced customer engagement will push the insurance industry’s talent needs by 5.25%, the report adds. The surge in demand can be attributed to India's growing middle class and favourable economic conditions, which have pushed preferences for financial products like housing loans, personal loans, and credit cards, an earlier report by Business Standard says. As a result, there is an urgent need for skill development and finance talent acquisition, says Krishnendu Chatterjee, VP and Business Head at TeamLease Services. Source: The Economic Times - https://lnkd.in/e4KEbeiK ✍: Preethi Ramamoorthy 📸: Getty Images #FinanceIndustry #FinanceJobs #Banking #Insurance #FinancialServices

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Demand for software engineers skilled in emerging technologies is on the rise across fields, even as the tech sector grapples with a hiring slowdown, reports Rica Bhattacharyya for The Economic Times. 👩‍💻 Between nine to 10 lakh additional jobs for skilled engineers are expected to be created in the next 18 months, according to TeamLease Digital data. This trend reflects the rising need for talent in the age of digitisation in tech and non-tech sectors, adds the report. 👨‍💻 Demand for software engineers is set to increase across sectors like banking, financial, telecom, professional services, business consulting, GCCs, healthcare, and automotive/ EV. The role remains pivotal even amid a fluctuating job market, as software engineers are skilled at navigating complex projects in an ever-changing landscape, according to Krishna Vij, Business Head- Captives at TeamLease Digital. 👩‍💻 What are some of the top emerging roles? AI Ethics Officer, Quantum Computing Engineer, Edge Computing Engineer, Blockchain Developer, Data Privacy Engineer, Cloud Native Developer, and Robotics Engineer, among others. AI, ML, and data science experts are also sought-after, along with niche skills in natural language processing, and computer vision, said Adarsh Khandelwal, Director at SGN Software. 👨‍💻 The two primary trends impacting software engineering? The ability for non-technical employees to become developers with Gen AI, and AI coding tools changing how software is built, said Nitin Bhatt, Partner and Technology Sector Leader at EY India. Source: The Economic Times: https://lnkd.in/e_n6N8pm ✍ : Isha Chitnis 📸 : Getty Images #SoftwareEngineering #TechHiring #ArtitificalIntelligence #MachineLearning

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