Ola Electric Mobility Ltd is planning to lay off over 1,000 employees and contract workers as the company seeks to reduce its growing losses, according to a report by Bloomberg. The job cuts will affect multiple departments, including procurement, fulfilment, customer relations, and charging infrastructure. Sources familiar with the matter said that the layoffs are…
Amid the ongoing market downturn, Zerodha co-founder Nithin Kamath has a crucial message for investors: don’t panic. In a post on X, Kamath highlighted that this is the first real correction for many who started investing after the pandemic, reminding them that markets are cyclical and that steep declines were inevitable after the rally from…
The ongoing dispute between India’s National Restaurant Association of India (NRAI) and food delivery giants Swiggy and Zomato has intensified. NRAI alleges that the two platforms are misusing restaurant data to launch their own brands, thus competing directly with the businesses they serve. High commissions and the introduction of 10-minute food delivery services have further…
Hyundai Motor India Limited, the Indian arm of the South Korean automaker, has received two goods and service tax (GST) notices from the Government of Tamil Nadu and the Government of Maharashtra, amounting to nearly ₹16 crore, according to an exchange filing on Friday, February 28. The Deputy Commissioner of the Maharashtra State Tax Department…
The Indian retail market is poised for substantial growth, with expectations to reach over Rs 190 lakh crore by 2034. Retailers who embrace the country’s diverse demographics and contrasting consumer behaviors stand to gain the most, according to a joint report by the Boston Consulting Group (BCG) and the Retailers Association of India (RAI). The…
India’s economic growth is becoming more balanced with a notable rise in private consumption’s share in the GDP, according to a Crisil report. The report highlights a mild revision of 10 basis points (bps) in the second advanced estimate, bringing the expected real GDP growth for fiscal 2025 to 6.5%. This figure is closer to…
As appraisal season approaches, employees in the IT sector eagerly await rewarding salary hikes. However, reports indicate a mixed response from employers and employees regarding the anticipated increments. One notable case is LTIMindtree, a leading multinational information technology services and consulting company in India. The subsidiary of Larsen & Toubro has sent shockwaves among its…
India must sustain an average annual growth rate of 7.8% over the next 22 years to transition into a high-income economy by 2047, according to a World Bank report released on 28 February and reported by The Hindu. The report, titled “India-Country Economic Memorandum: Becoming a High-Income Economy in a Generation,” emphasizes that while the…
Ratan Tata’s Tata Consultancy Services (TCS), one of India’s largest IT services firms, is set to announce annual salary hikes for its employees for the financial year 2025-26. However, the expected increment is likely to be the lowest in the last four years. ### Expected Salary Hike According to an Economic Times report, TCS salary…
Reliance Jio, known for revolutionizing the telecommunications sector, is now set to make its mark in the electric vehicle manufacturing sector. The company is reportedly planning to launch the Jio electric bicycle by the end of this year. Although there has been no official announcement from Reliance, several features and price details have been circulating…
