0 comments Posted by L.ArulRajh at 5:08 AM
The Indian Institutes of Technology, one of the most esteemed autonomous public institutes of India, want their students start accepting internship offers from potential employers. This initiation is encouraged so that the institute can boost the count of students who get placed by the period of the final placements season in December. This initiative popped up due the concern where 5 to 15% of IIT students are left without any job offers almost every year. "Internship is a natural footstep for all the IITs. This will make space for additional students in the final placement season," said Mr. Debasis Deb, chairman, IIT Kharagpur, Career Development Centre. With its peak student enrolment rate, IIT Kharagpur has a great task in sight of placing around 2000 students every year, which consists of PhD students, postgraduate and undergraduate. "If we get 300 pre-placement offers this year, which is almost twice of last year's numbers, the strain on final placement gets cut down," Mr. Deb said. Nearly all IITs are to start the pre-placement offer season in a few weeks. Most IITs hardly have 80% placements expressed Mr. Kaustubha Mohanty, placement in-charge, IIT Guwahati. “Not a single IIT has 100% success rate in placing all the students.” Apart from low-scoring students who have failed to get placed, there are students who choose to skip placements, accredited to the start-up boom in India, and a few more who wish for higher studies. "Internship is a courtship course for both students and companies before resolution on job offers," said Mr. Mohanty. “It also elevates the odds of getting a job offer.”
Source : Jobs.siliconindia.com
0 comments Posted by L.ArulRajh at 6:43 AM
GST rollout across the country will improve ease of doing business and encourage industries to expand their operations, which in turn will help boost job opportunities, experts say. The Make in India initiative will get a significant boost as companies would be able to create manufacturing and industrial hubs across the country as GST would break the barrier of state tax regulations. "Passing of GST in a single stroke will benefit both corporates and the economy. It will pave the way for significant job creation across most domestic consumption driven sectors," said Ms. Rituparna Chakraborty, co-founder & Executive Vice-President, TeamLease Services. Under the new indirect taxes regime, which is likely to take effect from 1 April 2017, levy on manufactured goods will come down while consumers may end up spending more as service tax burden would go up as GST is a consumption-based tax. "The uniformity of tax structures will open up markets beyond favourable territories, lead to expansion of services, capacity and product range. It will also lessen protectionism among states and lead to more innovation," said Ms. Chakraborty. The industries that will spur job creation immediately are consumer goods/ FMCG, media, auto industries, cement and logistics, she hoped. "For initial 1-2 years, a lot of accounting and training companies will also be able to create job opportunities specialising in implementation of GST," executive search firm GlobalHunt MD Mr. Sunil Goel said, adding that sectors like manufacturing, FMCG, e-commerce, telecom, automotive and media will be major ones to benefit and will generate more jobs.
Source : Firstpost.com
0 comments Posted by L.ArulRajh at 4:27 AM
Reliance Industries' Chairman and Managing Director Mr. Mukesh Ambani kept his annual salary capped at Rs 15 crore for the eighth year in a row even as the remuneration of all executive directors on firm's board rose. Mr. Ambani, the richest Indian, has kept salary, perquisites and allowances and commission at Rs 15 crore since 2008-09, foregoing almost Rs 24 crore per annum. "The Chairman and Managing Director's compensation has been set at Rs 15 crore as against Rs 38.75 crore as approved, reflecting his desire to continue to set a personal example for moderation in managerial compensation levels," RIL said in its annual report for 2015-16. His remuneration for 2015-16 included Rs 4.16 crore as salary and another Rs 60 lakh by way of perquisites and allowances. He got retirement benefits of Rs 71 lakh and Rs 9.53 crore as commission on profit. While the base salary is the same as the previous year, the commission on profit has marginally risen from Rs 9.41 crore in 2014-15. Mr. Ambani voluntarily capped his compensation at Rs 15 crore in October 2009 amid a debate over right-sizing of CEO salaries. The salary cap continued even as all other executive directors saw their remunerations go up.
Source : Zeenews.com
0 comments Posted by L.ArulRajh at 6:58 AM
The Indian Institutes of Management (IIM) may have to introduce quotas for hiring faculty. The human resource development (HRD) ministry has retained an enabling provision in the proposed IIM bill that can be invoked to ensure the premier business schools adhere to the Centre’s reservation policy for the faculty. The bill—that would empower the institutes to grant degrees, and not diplomas — is expected to come up for a decision of the cabinet soon, a government source said. The cabinet had discussed the bill at a meeting in May and told the HRD ministry to make changes to ensure the autonomy of the institutes was not diluted. A government official said it had also been decided to give IIM alumni a say in running the institutes by mandating that five of the 14 members of the IIM board of governors would be alumni. In its final form, the draft bill requires the institutes to make special provisions for the social and educationally backward classes in employment. The official said the provision can be used to issue executive instructions for quotas when the ground rules for recruitment of faculty are notified. The constitution empowers the government to set aside quotas for the Scheduled Castes, Scheduled Tribes and Other Backward Classes for social empowerment of the historically-marginalised communities. The IIMs adopt the reservation policy for admission of students but have resisted attempts for quotas while recruiting the faculty. In 2008, the then HRD minister Mr. Arjun Singh had ordered all centrally-funded institutions — including IITs and IIMs — to implement faculty quotas. The move, however, had triggered protests. The IITs eventually toed the government line but the IIMs were defiant. Sources said most IIMs don’t follow quota for faculty. Unlike other educational institutions under the ministry, the IIMs cite a 1975 government order that exempts scientific and technical posts from reservation. It implicitly treats management as a subject under the category of science and technology.
Source : Hindustantimes.com
0 comments Posted by L.ArulRajh at 6:43 AM
Solar lighting could create 2 mln jobs in developing world
Switching from fuel-based lighting – such as firewood and kerosene lanterns – to solar-LED systems also create two million potential new jobs in developing countries like India, a first-of-its-kind study has found. Lawrence Berkeley National Laboratory (Berkeley Lab) researcher Mr. Evan Mills conducted the first global analysis of how the transition to solar-LED (light-emitting diode) lighting will impact employment and job creation. “People like to talk about making jobs with solar energy, but it’s rare that the flip side of the question is asked – how many people will lose jobs who are selling the fuels that solar will replace?” said Mr. Mills. “The good news is, we found that we will see many more jobs created than we lose,” he said. While there are about 274 million households worldwide that lack access to electricity, the study focuses on about 112 million households, largely in Africa and Asia, that cannot afford even a mini solar home system, which might power a fan, a few lights, a phone charger and a small TV. In countries such as Mali, Niger, Sierra Leone, India, Indonesia, and Kenya, fuel-based lighting is not particularly “job-intensive.” Individual entrepreneurs sell lanterns, wicks, candles, fuel dippers and kerosene in small quantities, often in local markets or on the roadside, but few jobs are created and many are part-time. Researchers found that fuel-based lighting today provides 150,000 jobs worldwide.
Source : Financialexpress.com
0 comments Posted by L.ArulRajh at 5:46 AM
Indian companies have created over 10,000 jobs in South Africa with an investment of more than $4 billion since 2003, the country's trade minister said, ahead of Prime Minister Mr. Narendra Modi's visit. Mr. Modi is expected to be accompanied by a high level business delegation for two business meetings including for a Business Forum in Pretoria which will be preceded by a meeting of the South Africa-India CEOs Forum. "A total of 82 Indian projects in South Africa with a total capital expenditure of 62 billion rand ($4.2 billion) between January 2003 and January 2016 were recorded from 60 companies," Minister for Trade and Industries Mr. Rob Davies said at a media briefing. He said that these investments have created 10,660 jobs. India's leading sectors were software and IT services (17 projects) and financial services (14 projects). India is now South Africa's sixth largest trade partner, with trade in last year being almost 95 billion rand, with a trade surplus in favour of India.
Trade with India represented 4.9% of South African imports and 4.1% of exports. South Africa's trade statistics show that India's exports to South Africa increased from 29 billion rand in 2011 to 54 billion rand last year, while South Africa's exports to India increased from 24 billion rand in 2011 to 41 billion rand. South African companies have also grown their investments in India with a total of 24 projects. The leading sectors for South Africa's investment in India were the financial sector, machinery and equipment and software and IT services. Mr. Davies said efforts were underway to promote South African exports, especially value added products.
The minister highlighted government interventions undertaken to turn the trade imbalance around, including participation in the India International Trade Fair last year and the seventh Investment and Trade Initiative in February.
Source : Business-standard.com