Coal blocks allocation starts with a bang

Government of India is happy to see aggressive mood of the industrialists in the bidding and is expecting to cover the loss of Rs 1.86 lakh crores as estimated by CAG. For instance Reliance Cement’s bid of Rs 1,402 per tonne which has been more than the base price by nine times. Also in the case of Talabira – I block GMR energy bid for Rs 402 per tonne which is four times the base price of Rs 100 per tonne. Such an enthusiasm in the bidding process has encouraged the government and has given hope that the amount of revenue to be generated from such bidding to be more than the loss estimated by CAG. 

Export demand declines but the trade deficit reduces

There has been significant decline in the exports due to slump global market demand. The industry has witnessed decline of around 11% YoY in the exports. The poor economic conditions in European Union and Japan has resulted majorly in the decline of exports. Despite of lower exports in the current fiscal year the trade deficit has reduced to 11-month low of 8.3% due to lower crude prices. The contraction in the demand for non-oil merchandise is a bad indicator. There has been rise in the gold, non-oil merchandise and non-gold imports and reduction in the exports of non-oil merchandise will result in the reduction of trade surplus in the service sector which rose from $ 6.3 billion to $7.6 billion in a year. Government of India needs to introduce radical changes in the Union Budget and foreign trade policy to support the export sector as the Indian exports have been hovering around a figure of $ 300 billion since 2011-12.

E-Commerce industries’ roping in candidates in campus placements increased

Recently there has been growth in the trend of campus placements with most of the recruitments being made by huge e-commerce establishments such as Flipkart, Amazon, Snapdeal, Ola Cabs, Myntra, etc. from leading B-Schools such as IIM Lucknow, Shillong, J&K, Jamanlal Institute of Management, SP Jain Institute of Management, Xavier School of Management, etc. Offers from e-commerce companies has gone up by more than 120% as compared to last year. The e-commerce companies’ jobs mainly constitutes of operations management, merchant acquisitions and product management. Many HR experts have compared the boom in the e-commerce job industry to that of IT industries i.e. increase in operations would result in larger recruitments. E-commerce industries’ jobs are not only attracting fresher’s group but also experienced managers. For instance online clothing website Myntra itself appointed more than 10 lakh persons who have been earlier working at firms like McKinsey, BCG, ATKearney, etc. The exposure that these e-commerce establishments are providing and the pay scale in double digit has been successful in attracting many young as well as experienced MBAs in the industry.