Business Roundup # Week 1

Business this week
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Retail Jobs Need New Skills

At least 20-25 per cent of the retail sector workforce will have to be deployed in jobs which require radical skill requirements in the next five years, according to a report.

A study by FICCI-NASCOM and EY on the nature of jobs says that 95% of industry experts believe that highly optimised supply chains would drive growth in the retail sector in the next five years. This will lead to new skill requirements.

Telecom Sector Upbeat

The telecom sector may feel more optimistic this year as consumers may get lower bills and the financially stressed telecom firms getting lower levies, says a report.

The telecom department has urged the finance ministry to cut the Goods and Services Tax (GST) on telecom services to 12% from the current 18%.

Dubai Plea Rejected

Dubai’s request for allowing its carriers to fly directly to under-served airports in country has been rejected by India, says a report.

The Emirate has been trying for more flying entitlements to India, but allowing that would violate a bilateral signed between India and Dubai, it was stated. Dubai has been seeking more flights to the northeast of the country.

Huawei slashes jobs

Gear maker Huawei Technologies has cut its direct workforce by a third in India, says a report.

This was triggered by the ongoing mergers in the financially-stressed industry, led by the Vodafone-India move. The Chinese company said its staff were told to leave on basis of performance, declining performance and network issues.

Patanjali Mulls Diaper Plan

Patanjali Ayurved is planning to enter the diaper and sanitary napkin market to take on major international firms, says a report.

Patanjali will launch both kids and adult diapers and affordable sanitary napkins in the 16,000-crore-rupee market in the first quarter of the next financial year.

Firm Nets Bigger Slice

Innovative Retail, which runs BigBasket, has registered major growth, more than doubling its business in FY2017, a report reveals.

The firm crossed 1,000 crore rupees mark in sales. Innovative Retail registered revenue of 1,090 crore rupees in the year to March 2017, a jump of 107% from a year earlier, underlining the popularity of online grocery.

Digital Commerce Boost

India’s digital commerce market is likely to surpass $50 billion in value by the end of this year, a report reveals.

It will rise from the current $38.5 billion mark on the back of increased online shoppers and Internet population. The digital commerce market has posted steady growth from 2014.

Bacardi Launch New Products

Bacardi is planning to launch new brown spirits to diversify from its white rum market, says a report.

The Bermuda-based company, which makes Sapphire gin and Dewar’s Scotch, is expanding its reach by focusing on brown spirits which are popular in India and the Middle East.

Babu Kalyanpur

Babu Kalyanpur, ( Consulting Editor) has rich experience in both sports and business journalism. Babu has led news desks in Pune and Bahrain and writes extensively on his passion, sports and business besides current affairs and matters of importance to Pune.

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