500,000 jobs lost in 3 months in India

February 5, 2009

recessionOver 500,000 people were rendered jobless between October to December 2008 due to the recession, according to the latest government study.

The findings are part of a first of its kind survey conducted by the Labour Bureau of ministry of Labour and Employment as part of a study on the effect of economic slowdown on employment in India.

A sample size of 2,581 units covering 20 centres across 11 states was taken up for the survey.

Sectors which are affected most are

  1. Textile and garment industry
  2. Metals and metal products
  3. Information technology and BPO
  4. Automobiles
  5. Gems & jewellery
  6. Transportation
  7. Construction and
  8. Mining industries

The total employment in all these sectors had come down from 16.2 million in September 2008 to 15.7 million by December

Source: Rediff


HHS/FDA Indian offices Opened

February 4, 2009

Two new HHS/FDA food and drug safety offices in Dehli and Mumbai, India are the latest outpost of the US regulators.

This is how it is going to impact

HHS/FDA will post 10 experienced officials in India to work closely with industries that ship food and medical products to the United States, to improve safety and quality, which will facilitate the smooth flow of trade.

Along with the Office Director, HHS/FDA will have four inspectors and five senior technical experts who will cover food, medical devices and medicines.

This is what HHS/FDA personnel will provide :

These HHS/FDA personnel will provide technical advice, conduct inspections of facilities that export to the United States, and work with Indian government agencies and the private sector to develop certification programs to allow the efficient flow of safe HHS/FDA-regulated goods between the United States and India.

India is the fourth-largest exporter of drugs and biologics to the US with bilateral trade growing from $13.5bn (€10bn) in 2001 to $32bn in 2006.

Various Training based companies like ComplianceOnline conducts series of seminars regularly in India on topics like:

  • Computer System Validation and Part 11 Compliance in Practice
  • Applying Lean Principles to Controlled Documents
  • Critical Cleaning Validation for Pharmaceuticals & Biotech Industry
  • 21 CFR Part 11 Compliance in Practice and Computer System Validation
  • How To Comply With FDA Quality Systems Regulations And Pass FDA Inspections
  • Understanding US trends in Pharmaceutical and Building a Successful CMO

Click here to find more about ComplianceOnline seminars/webinars.

Source: Embassy of United States ComplianceOnline


Cars to hit Indian roads in 2009

January 22, 2009

fiat-ggrande-punto1. Fiat Grande Punto

Expected in May-June 2009, the car’s estimated price varies between Rs 500,000 and Rs 700,000.

It is a pemium hatchback/small-car that runs on both petrol and diesel.

The car will also be available with an Essesse kit, which boosts power to 135kW.

hyundai-santa-fe2. Hyundai Santa Fe

Expected in mid 2009, this SUVs price is estimated to be between Rs 23 and Rs 26 lakhs (Rs 2.3 to Rs 2.6 million). The car runs on both petrol and diesel.

The car will come in 2.2-litre, 148bhp diesel motor which might be tuned to suit Indian fuel quality.

maruti-suzuki-splash3. Maruti Suzuki Splash

Expected early this year, the car is estimated to be priced between Rs 400,000 and Rs 5,50,000. The styling is bold and is characterised by massive headlamps at the front.

The rear has an inward tilt to it.

A refined and fuel efficient 1.2L petrol and the 1.3L multijet (DDiS) diesel engines are planned for the car.

honda-jazz4. Honda Jazz

Expected in June-July this year, the car is estimated to cost between Rs 500,000 and Rs 600,000.

A Small segment, premium hatchback, to be available only in the petrol version, the car is expected to compete directly with the Skoda Fabia, the yet-to-be-launched Fiat Grande Punto and the Hyundai i20.

mahindra-xylo5. Mahindra Xylo

The Mahindra Xylo is Mahindras first attempt at building an multi-purpose vehicle. This MPV will compete directly with the Toyota Innova.

Priced between Rs 600,000 and Rs 800,000, this vehicle was launched in December 2008.

The Xylo has the same heart as that of the Scorpio, the 2.6 CRDe, as well as the 2.2 M-Hawk’s engine as options.

As Mahindra is using the same engine as the Scorpio, the vehicle’s cost is less than that of the Innova.

toyota-fortuner6. Toyota Fortuner

Expected early this year, the SUVs estimated price is between Rs 16 lakhs and Rs 18 lakhs (Rs 1.6 to Rs 1.8 million).

The car will be available in both petrol and diesel versions.

Source: Rediff


New IT jobs down by 25% in India

December 30, 2008

willcodeforfoodThere is more bad news for job seekers. A study by Naukri.com, states that the Overall Job Index in October 2008 is 781 as compared to 1000 in July 2008 indicating a decline of almost 21.9 per cent.

Historically, there is a seasonal decline in October which is around 10 per cent as recruitment slows down due to the festive season. The index suggests that companies are scaling back their recruitment plans due to the global financial crisis.

The IT sector has been hit badly by the slowdown. Both the software and hardware sectors have witnessed a dip in new jobs by almost 25 per cent since July this year

IT loses, but BPOs gain

Banking and financial services have seen a decline of over 32 per cent in October, while construction and engineering have seen a decline in new jobs by almost 22 per cent since July 2008.

The pharma industry has been comparatively less affected with a fall in the index of less than 15 per cent. Niche sectors like government and legal have seen an increase in new jobs.

Hiring dips in metros

The metros saw a dip in the supply of new jobs. Besides the slowdown, Diwali and Dussehra impact hiring to a considerable extent.

Metros that generate jobs saw a decline in new jobs to the tune of 16 per cent in comparison to the usual 10 per cent in earlier festive seasons. In the Delhi-NCR region, new jobs fell sharply after maintaining stability in August and September.

The job index for Delhi fell from 1000 to 786. Mumbai witnessed a higher setback in the month of Oct as compared to September and August, the job index fell from 1000 to 715 in October 2008 as compared to July 2008.


Bangalore, the IT hotspot, has lost new jobs since July, especially in August which saw a decline of close to 20 per cent as compared to September.

Worst-hit cities

Chennai saw a marginal increase in new job creation during September, however October saw a fall to the tune of 10 per cent.

Hyderabad and Pune bore the brunt of the slowdown, especially in the IT sector, and witnessed a decline of over 15 per cent in new jobs during October.

Jobs in Kolkata were severely affected with October alone witnessing a decline in new jobs by over 32 per cent. Chandigarh saw a slowdown in hiring to the tune of 35 per cent since July due to a slowdown in the IT sector.

Govt jobs rise

The banking industry shows a slowdown in hiring in the month of October.

Legal and government jobs saw an increase over the period of August, September and October 2008.

Over the past three months, real estate, banking, finance, IT and retailing show a decline; while telecom, pharma and hospitality emerge as attractive options. Some niche sectors, like government, defence and legal sectors have gained attractiveness in recent months.

Source: Rediff


Mumbai attacks could hurt India’s outsourcing sector

December 2, 2008

Mumbai terror attacks on the country’s outsourcing industry, according to PwC’s life sciences head Sujay Shetty.

On Wednesday last week, militants armed with machine guns and hand grenades took control of multiple locations across the city, including several hotels and restaurants. Although full details are yet to emerge, it is widely reported that up to 172 people lost their lives.

Speaking with India’s Business Standard, Shetty said that, in addition to the obvious human tragedy, there may be considerable damage to the country’s reputation as a place for international firms to do business.

He suggested that: “The drug industry could see short-term setbacks, especially in the field of outsourcing,’’ adding that ”executives of global companies may be asked to refrain from coming to India and many planned visits have been cancelled.’’

The Indian outsourcing market, which has over 80 US Food and Drug Administration (FDA) approved facilities, was worth $1.27bn last year and, prior to the attacks, was expected to generate revenue of $3.33bn by 2010.

While it is too early to say if international drugmakers will turn to the country’s main outsourcing rival China long-term following the attacks, for 2008 at least Indian firms have lost out on contracts that would otherwise have been won at the shelved tradeshows.

Furthermore, although the main impetus for outsourcing is the reduction of costs, supply chain stability is also a major factor in the selection of outsourcing partners. As a result, long-term political strife and social unrest may be enough to tip the scales in favour of a contractor operating in a country where such concerns are not a factor.

Meanwhile, the European Union and China are also looking at working more closely in the future.

Source: Outsourcing Pharma


Terror at Taj: How it happened

November 28, 2008

102Army, Marine Commandos (MARCOS) and National Security Guard (NSG) commandos are involved in a fierce encounter with a group of terrorists inside the Taj. It all began on Wednesday night:

11 pm: Firing around Colaba, terrorists arrive inside Taj hotel, Gateway of India.

12 midnight: Firing of hand grenades inside Taj Hotel, police gheraos the hotel, ready to shoot on order, area cordoned off.

1 am: Massive blast inside the central dome of the Taj Palace hotel, flames around the structure, smoke cloud lift up to the sky, two rounds of hand grenades.

2 am: One round of hand grenade thrown outside the window from Taj’s heritage wing to the park infront of the Gateway; police ready to fire and enter in big numbers inside the hotel.

2:30 am: Army deployed, two trucks full arrive and enter hotel lobby and outside. Media asked to move back by 100 metres. Fire spreads across top floor of Taj heritage wing.

2:45 am: Some people exit from kitchen fire exit and are taken from the new wing of Taj to the back exit to leave, guided by police.

3:00 am: Fire engines arrive, police sirens go off. Shooting and gunfiring heard inside lobby and heritage building. Fire spreads quickly to the left dome of the hotel, engulfs entire column in flames.

3:30 am: People scream from inside the heritage building as fire spreads. People seen at windows howling for help. Fire engines start rescue, try putting out fire on top floor with water sprays.

3:45 am: Fire engine ladders pull out people from windows while simultaneously trying to get the fire doused. People are slowly brought down as firemen run with search torches, break windows to pull people out.

4:00 am: Men, women climb down, howling as they are rescued. Most of them say they were told to stay in their rooms. Some of them had seen the terrorists shooting around. Most of them come down shocked by smoke and firing. Ambulances take them to nearby hospitals.

4:30 am: Another bout of big firing inside hotel. Action shifts from left heritage site where the fire continues to spread quickly to middle of the hotel as terrorists run from the centre dome to the new tower.

5 am: Solid rounds of firing, police step up heat with commandos and bomb squads arriving. Public told to move away. Fire engines continue rescue as people are brought down. Fire flames right again, both central and left dome in fire again.

5:30 am: Fire appears under control, but terrorists holed up in new tower in the exclusive club of Taj called Chambers. 100-150 locked in there, most influential corporates, businessman, policy makers at the venue. People kept hostage.

6:00 am: Police, navy, army forces take control and say they are ready for encounter. Firing across the building. Windows are broken. Personnel gherao Gateway and top floors of Taj with sniper guns.

7:00 am: Policemen spread across the floor on the ground of the Gateway of India. Another round of firing.

8:00 am: People are brought out to the lobby, some people told to duck down behind scaffolding as a new round of firing takes place between terrorists and the police outside the main porch.

8:30 am: Another 50 people are brought out of the Taj club called Chambers and taken slowly by the police in Best buses, to evacuate them.

9 am: More rounds of firing, many more people stuck inside.

10 am: Police almost finishes encounter, until one more round of firing happens.

11 am: Many people are taken on stretchers outside in critical care vans, some alive, some injured and some dead.

6:00 pm: Three fresh explosions have been reported at the Taj hotel in Mumbai on Thursday and rescue operations are on.

7:00 pm: Fire flared up at hotel Taj Mahal Palace for the third time, with huge flames leaping up from the roof of the heritage old wing of the building.

Source: NDTV


Citigroup: ‘Job-cut impact on India to be minimal’

November 19, 2008

Citigroup on Tuesday ruled out any major retrenchment in its India operations. Elucidating the move to cut 52,000 jobs across the globe, Sanjay Nayar, Citi’s South Asia CEO, said the job-cut impact on India would be minimal.

Nayar explained that the bank has already reduced its staff strength in the country through sale of its BPO arm, Citigroup Global Services (CGSL), to TCS about a month ago, and there was little need to go for further reduction in manpower.

Speaking at the BS Banking Round Table conference on Tuesday, Nayar said, “There is a big difference in what is happening in the US and Europe, and in India. There is growth in Indian market. After five years of substantial growth, there could be some flab.”

He said that Citi’s businesses in some of the emerging markets, including India, were doing very well. Spurred by demand for credit and need for financial inclusion, the bank continued to expand its operations in the country, he said. “India will not be affected by the job-cut decision announced yesterday. There could be some cuts in Citi’s domestic workforce on the back of under-performance,” Nayar added.

Source: Business Standard