GE Vernova and BHEL committed to provide reliable powering solutions to help accelerate energy transition in India

GE Vernova and BHEL

Bengaluru,6th July 2023 To provide advanced powering solutions for India’s gas power sector, GE Vernova’s Gas Power business (NYSE:GE) and Bharat Heavy Electricals Limited (BHEL) announced today the continuation of their long-term cooperation with the fourth extension of the Technical Assistance and License Agreement including scope for the engineering and manufacturing of heavy-duty gas turbines in India. The signing of the agreement is an extension to the collaboration between the two power sector industrial companies that started in July 1986.

The agreement signing ceremony was attended by Dr. Nalin Shinghal, Chairman & Managing Director, BHEL; Mr. Jai Prakash Srivastava, Director (Engineering, Research & Development) & Director (Finance – Addl. Charge) BHEL; Mrs. Renuka Gera, Director Industrial Systems & Products, BHEL; Mr. Deepesh Nanda, CEO, GE Gas Power South Asia and President & CEO, GE Aero-derivative Business, Gas Power Asia and other senior officials from GE and BHEL. Mr. Theodoros Stamatiadis, Executive Counsel (IP), GE Power also participated in the meeting virtually.

Through this agreement, GE Vernova’s Gas Power business will continue to strengthen BHEL’s capabilities to offer best-in-class gas turbine technology and help meet the power plant requirements of customers. Till date, BHEL has supplied about 230 GE gas turbines to various oil refineries, process industries, and utilities in India and overseas. The above cooperation is also contributing towards reshaping India’s energy roadmap by promoting indigenous manufacturing capabilities, creating new job opportunities, and expanding the supply chain network. It is a testimony to Atmanirbhar Bharat (Self-reliant India) and Make In India initiatives, and also aligned with India’s Power Vision.

“BHEL has been providing innovative technological solutions in the power sector and embracing collaborations built on values of trust and commitment towards creating a more sustainable ecosystem. Our long-term association with GE helped us in building a robust energy value chain, offering a comprehensive portfolio of gas turbine powering solutions, and setting new industry benchmarks, while we look forward to achieving new milestones in the energy sector. With the new agreement, we will also be able to offer hybrid powering solutions by using GE’s aero-derivative gas turbine technology and support the growth of renewable energy in India.” said Mr. Jai Prakash Srivastava, Director (Engineering, Research & Development) & Director (Finance – Addl. Charge) BHEL.

“Over the decades, GE is helping to address global challenges in the energy sector by offering innovative and disruptive technology that can drive energy transition forward and helping nations to reduce emissions in the power sector in more than one ways. Both GE and BHEL have created a strong legacy of providing integrated solutions to the power plant owners – delivering higher efficiency, reliability and availability of the gas turbine units. We can together bring a significant shift to reduce emissions in the gas power sector, especially in India.” said Mr. Deepesh Nanda, CEO, GE Gas Power South Asia.

India’s focus to achieve net zero emissions and include green hydrogen into the energy mix would need future ready powering technology. Today, GE has 120+ gas turbines supporting power generation with hydrogen blends and associated fuels around the world and the fleet has accumulated more than 8.5 million operating hours. GE’s gas turbine portfolio, including the B- and E-class, has the capability to burn hydrogen levels from 5% (by volume) up to 100%. This capability varies depending on the type of combustion system used. At the same time, gas-based power can also provide a cleaner base load power as compared to coal-fired power generation, at the grid level, to the growing base of intermittent renewable energy in India. As per the agreement, the BHEL customers can now have access to GE’s advanced gas turbines that are capable of burning blends of hydrogen, methanol, syngas and other low BTU fuels, contributing further towards accelerating energy transition in India and region at large.

Additionally, GE and BHEL are providing comprehensive engineering, repairs and maintenance services to the gas power plant operators in the region. These services are offered by BHEL-GE Gas Turbine Services (BGGTS) Private Limited, a 50:50 joint venture between GE and BHEL. Established in 1997 and located in Hyderabad, BGGTS is synergizing advanced class gas turbine technology with local engineering capability.

Sababa Security Partners With Radiflow For Advanced Defence Of Industrial Systems And Critical Infrastructures

Ilan Barda, Founder and CEO of RadiflowMilan, June 28, 2023 – Sababa Security S.p.A. – a leading Italian cybersecurity player that provides an integrated and customised offer of products and managed services to protect different IT, OT, and IoT environments from cyberthreats – announces that it has signed a partnership agreement with Radiflow, a leading global vendor of OT cyber security solutions for advanced protection, monitoring and risk management of industrial systems and critical infrastructures.

Attacks to OT systems and critical infrastructure are an ever-increasing threat with potentially severe consequences, including damage to the infrastructure itself, disruption of production processes, and even harm to the environment and public safety. In 2022, we’ve witnessed a heightened frequency of cyberattacks on key industry suppliers, with manufacturing ranking first among the most target sectors and vulnerability scanning being the preferred method of attack.

Bringing together their cybersecurity expertise and industrial know-how, Sababa Security and Radiflow join forces to enhance organisations’ ability to identify vulnerabilities, mitigate risks, and respond effectively to OT cyber threats. From risk assessment & management platform to ongoing monitoring and training, the two companies will be offering industrial enterprises tailored technologies and services to meet their industry-specific needs and empower their critical infrastructure.

“Sababa Security already protects several critical infrastructures in industries such as oil and gas, utilities, energy generation and distribution, and is constantly investing in R&D within the OT field thanks to the strong collaboration with universities and Competence Centres such as Start 4.0 – of which the company is a member”, commented Alessio Aceti, CEO of Sababa Security “In this respect, the partnership with Radiflow allows us on the one hand to strengthen our technical offering and on the other hand to support customers in achieving compliance with recognized cybersecurity standards, including the New Machinery Regulation (NMR) and IEC 62443”.

“Radiflow’s team is known, globally, for its cybersecurity expertise and reputation in the OT world.
Backed by research and led by innovation, we are committed to exceeding expectations by tailoring solutions to our clients’ industry-specific needs, stated Ilan Barda, CEO of Radiflow. Radiflow develops trusted Industrial Cyber Security Solutions for critical business operations. We offer a complete portfolio of game changing solutions for ICS/SCADA networks that empower users to maintain visibility and control of their OT networks, including an Intelligent Threat Detection tool that passively monitors the OT network for anomalies, as well as our unique CIARA platform delivers OT Risk Management with a clear understanding of Organizations’ continuous risk postures, a Risk score as well as a high-level view of each site’s status. The partnership with Sababa Security allows our joint clients to achieve their risk posture objectives over time and address their OT vulnerability issues.”

Technology for the sake of technology will not survive: SGK Kishore, Executive Director (South) CIO GMR Airports

Technology for the sake

Hyderabad, 24th June 2023….. Technology for the sake of technology will not survive. Digital Transformation must improve user experience, customer experience, bottom line and behaviour said Chief Guest, Mr SGK Kishore, Executive Director (South) and Chief Innovation Officer – GMR Airports at GMR Group, (Ex. IAS) at the Impetus, a full-day innovative conclave held at HICC on Friday, aimed at driving digital transformation and empowering industries held on Friday at HICC.

He was delivering a keynote address on Digital Transformation and gave his perspective. He described the event as unique and timely. It is an opportune time, he said and that the day-long conference was planned for discussions on new technologies, embracing technologies and digital transformation. And a good part of the conclave, he said, that most of the participants are MSMEs, for whom technology is an essential part of their business. It is important for them to remodel their business.

There are three aspects to Digital Transformation as I understand, the top official of GMR Airports said. We keep hearing three different buzzwords—Digitization, Digitalization and Digital Transformation. Digitization is the initial step in using digital tools. Digitalization is about bringing in products and solutions. Mother of all these two is Digital Transformation. It is about how an organization transforms using digital technologies. It is more about their behaviour, their culture. The end objective is to improve their bottom line, culture, user engagement etc.

At GMR we have been focusing on new-age technologies. Our chairman is an ardent fan of embracing new-age technologies. With digital transformation, every business leader must behave like a technology leader. Digital Transformation is a continuous process. It is like fitness. It is a continuous effort. It is about non-technology companies also behaving like technology majors.

It should make everyone in an organization feel that he is an entrepreneur and ensure entrepreneurial behavior.

Drawing a parallel to Hindu Mythology, the bureaucrat turned business leader, SGK Kishore said Lord Brahma is the creator, Vishnu the sustainer, and Shiva destroyer and restorer. The modern businessman has to view digital transformation as creative destruction. Whatever you have created must destroy for good and better. They must think differently. Look at collaborative efforts, he added.

People own GMR Airport. They think it is theirs. It is a people’s airport. The leadership has been successful in transforming the airport into what it is today in the last ten years and digital transformation is one of the key factors for what it is today. The digitally transformed airport resulted in increasing process speed, storage capacity and better services. Aviation is a highly regulated sector. Minute details must be dealt carefully. Digital Transformation is very important to all sectors. He congratulated the joint organisers, FTCCI and HYSEA for identifying a very topical subject for the conclave.

Welcoming the gathering Mrs Manisha Saboo, President, HYSEA, and Vice President, Infosys said collaboration is the way forward. Today is a special day. Two great organisations HYSEA and FTCCI have come together first time to host jointly this conference. She talked about the power of collaboration. Chat GPT, an artificial intelligence chatbot developed by OpenAI which is the talk of the world is a collaborative effort.

Anil Agarwal, President of FTCCI said the kind of digital transformation happening in the last decade is an eye-opener. But, somehow MSMEs are left behind in this race. If you need to be globally relevant in a time when our economy is fast developing and hoping to be the world’s number one by the year 2047, we must encourage more and more MSMEs to embrace technology and transform their businesses digitally. Though covid accelerated this process, more impetus must be given to that sector, he observed.

Sri JA Chowdary, Founder, ISF, and former President of HYSEA said he heard when he was an IT advisor to Chief Minister Shri Chandra Babu Naidu, an SBI chairman saying ‘we are a technology company and we also do banking”. This is how one should look at their company and transform digitally. I also know of an incident where a PSU has taken one and half years to build a mammoth Data Logger, which later failed to work. Later the PSU imported a tiny machine, which did its job. Taking failures like this into account many refrained from getting digitally transformed, he said. Unless you are digitally transformed, you cant survive. Today many banks have fewer branches and more transactions. And they work 24×7, 365 days. That is the power of digital transformation he added. The theme is very apt and it is an ideal time to the organisation a one-day conference on the same.

Shri K Mohan Raidu, CEO, of Informatics India, and Chair of the IT Committee, FTCCI in his introductory remarks stressed the importance of digital transformation, which he said will put technology at the core of the business strategy. This would reduce operating costs and increases efficiency.

Pankaj Diwan, Founder and CEO, of Ideas labs Future Tech Ventures, who later in the day moderated a celebrity fireside chat with Raja, Chief Executive Officer, of Biliti Electrics, said, the Impetus was an effort to bring the business leaders from Traditional, Core Industries who are primarily members of FTCCI and IT Solution Providers who are primarily members of HYSEA come together on one forum. The purpose is to create and promote awareness of Digital transformation and implementation of digitalization in the core business processes.

The inaugural of Impetus was followed by four different tracks focused on industries such as Agri-tech, Food Processing, Manufacturing and Pharma and Healthcare industries. They focused on ‘Unlocking the Potential by Adapting and Accelerating Digital Transformation & Digital Innovation”.

UTOMATR a product developed by a startup was launched during the inaugural function.

In conjunction with the program, an expo was also scheduled to explore digital
solutions by participating delegates.

It was a distinguished gathering of over 250 industry leaders, government officials, and technology enthusiasts. It will be a platform for meaningful networking and knowledge sharing.

Zicuro Technologies commences global expansion Eyes USD 5 mn revenue by 2025

16th June 2023  Zicuro Technologies Pvt. Ltd., an emerging FinTech company providing back office software solutions for derivatives market participants, and Cosmos Group, a renowned turnkey project company, have entered into an MoU to facilitate the development and enhancement of capital market infrastructure in developing countries.

The partnership between Zicuro Technologies and Cosmos Group brings together their respective expertise and resources to offer comprehensive solutions tailored to the unique needs of developing countries and emerging economies. By combining Zicuro’s deep financial markets understanding and expertise along with Cosmos Group’s international project handling capabilities, the collaboration aims to streamline and modernize the capital market infrastructure, enabling deeper market participation to attract FPI’s in emerging economies.

The collaboration is focusing on countries such as Kenya, Nicaragua, Tanzania, Algeria. It is estimated that each of these economies may present a market potential of USD 50 million and Zicuro is eyeing a 10% market share of approx USD 5 mn by 2025.

Zicuro Technologies Pvt Ltd, has successfully commissioned Custodial Services solutions for one of India’s largest Private Sector Banks in the Gift City. It is at an advanced stage of finalizing similar arrangements with other Private Sector Banks having a presence in the Gift City.

Commenting on the partnership, Mr. Abhishek Bansal, promoter of Zicuro and also founder of Abans Holdings Ltd (NSE: AHL) said, “Expanding into the international market is a significant milestone for Zicuro Technologies. We are delighted to partner with Cosmos Group for our global expansion plans. Indian FinTech companies have emerged as drivers of the Indian Financial Markets and we are taking this expertise to the global stage. The economies in developing companies will be able to strengthen their capital market infrastructure, enabling them to attract investments, foster economic growth, and drive financial inclusion.

Zicuro Technologies, led by visionary entrepreneur Abhishek Bansal, has gained recognition for its secure and comprehensive systems catering to Custodians, brokers, trading desks, and banks. The advanced features offered by Zicuro’s solution, ranging from trading and risk monitoring to regulatory reporting and compliance, provide market participants with a hassle-free experience in trade settlement across various asset classes.

Cosmos Group, an ISO 9001-2015 certified company, brings extensive experience in the design, engineering, procurement, and commissioning of turnkey projects. With specialized divisions managed by dedicated professionals, Cosmos Group has excelled in various sectors, including healthcare, infrastructure development, agriculture, ports, renewable energy, and biofuels. Under the leadership of Mr. Anil K. Agarwal, a respected business veteran, Cosmos Group has a proven track record of integrating with global markets and adhering to international standards

Radiflow’s CIARA 4.0 Delivers Actionable Insights to Simplify the Management of OT Cyber Risk at Industrial Facilities

Ilan Barda, Founder and CEO of Radiflow

CIARA V4.0 boosts compliance with security regulations and best practices while providing effective mitigation guidance. “CISOs are doing more with less, making it challenging to understand their current standing across the OT Cybersecurity landscape,” said Ilan Barda, Radiflow CEO, and Co-founder.

Tel Aviv, Israel, June 6, 2023 – Radiflow, creators of the award-winning OT cybersecurity platform, CIARA, announced the general availability of CIARA 4.0. This release introduces a leading benchmark tool as well as delivers actionable insights for managing and minimizing risk in large multi-site industrial facilities.

Today, CISOs and security teams are responsible for the cybersecurity of OT facilities. However, they lack the ability to evaluate the ever-changing cybersecurity risks to their operations. Unlike other sectors, they can not easily assess risk exposure or the effectiveness of specific security activities. To address this, Radiflow released CIARA 4.0, a data-driven platform that continuously monitors changes in the site topology as well as vulnerabilities and threats, always re-evaluating the risk posture of facilities and their digital components. This continuous monitoring enables the CISO to review the strategic and tactical OT security plans and adapt them if needed.

In order to further assist the CISO with the evaluation of their risk posture, Radiflow is introducing a  new free-to-use cloud benchmark tool. Utilizing collected industry-specific benchmark information based on Radiflow’s vast experience and enriched with CS2AI surveys, the new benchmark tool provides the user with a quick risk posture assessment compared to the industry status and best practices.

“CISOs are under enormous pressure to do more with less, making it challenging to understand their current standing across the OT Cybersecurity landscape,” said Ilan Barda, Radiflow CEO, and Co-founder. “Data-driven CIARA 4.0 automates the delivery of the necessary insights concerning the changes in the risk posture that actually direct users toward optimal security actions.”

At the same time that threat actors are getting more sophisticated and vulnerabilities are becoming more diverse, national and industrial regulatory bodies are tightening cybersecurity regulations. But these are often highly complicated and challenging. For example, while the widely accepted IEC62443 international series of standards provides a detailed map of security controls, it is often too complex for companies to understand and implement. For these situations, CIARA 4.0 delivers a view of Best Practices of Security Controls which are simpler to understand and map better to the planning of security projects in an individual factory or across a sprawling, geographically diverse complex of interlinked facilities.

“A centralized, highly intelligent solution that enables OT cybersecurity teams to identify vulnerabilities, and stay up to date with industry standards and/or best practices, while prioritizing and evaluating mitigation efforts, slashes the investment in time and effort required to conduct secure operations,” explained Michael Langer, Radiflow’s Chief Product Officer. “With the accelerating pace of so many new devices being interconnected via expanding OT networks alongside decades of legacy versions, CIARA 4.0’s ability to automate accurate risk analyses and furnish actionable insights becomes vital for ensuring zero downtime.”

Cigniti Technologies Digital Engineering Services (DES) Appraised at CMMI® Development V2.0 Maturity Level 3

Cigniti Technologies Digital

Mumbai,2nd June 2023 Cigniti Technologies Limited, the world’s leading AI & IP-led Digital Assurance and Digital Engineering Services company, has been appraised at CMMI® Development V2.0 Maturity Level 3 for its Digital Engineering Services. This significant milestone reinforces Cigniti’s commitment to excellence and sets new standard in the field of digital engineering.

The Capability Maturity Model Integration (CMMI) is an internationally recognized framework that assesses an organization’s maturity and capability in various process areas. The Level 3 appraisal showcases Cigniti’s establishment of robust and standardized processes for managing and delivering digital engineering services, ensuring consistent quality and efficiency in its offerings. This certification is in addition to the existing CMMI-SVC V2.0 Maturity Level 5 certification for Cigniti’s software testing services.

Acknowledging the achievement, Srikanth Chakkilam, CEO of Cigniti, said, “We are happy to have achieved the CMMI Development V2.0 Maturity Level 3 appraisal for our Digital Engineering Services. This achievement is aligned with our mission to become a $1 Billion company. It lays a strong path to help increase the confidence of our customers in our ability to offer world-class digital engineering services on top of our existing market leading digital assurance services. We remain committed to leveraging our standardized processes and industry best practices to drive exceptional value for our clients and fuel our continued success. This is a firm step towards marching ahead in achieving our stated goals of growth and being a preferred partner of choice in helping customers accelerate their digital journeys.”

“This certification is a testament to our internal processes and reflects our dedication to meeting and exceeding client expectations. The CMMI Development V2.0 Maturity Level 3 certification benefits our clients by assuring them of our commitment to quality. It provides a more systematic, innovative, robust project management framework and risk-aware approach to project delivery. This certificate also serves as tangible proof of our competence to consistently deliver excellence, empowering our clients with the assurance that they are partnering with a trusted organization for their digital engineering requirements,” said Raghuram Krovvidy, Chief Delivery Officer, Cigniti Technologies.

Mr. Rajiv Shetye, the first SEI-authorized lead assessor in India for the CMMI, performed the appraisal using the latest version of CMMI Development Model V2.0. The appraisal evaluated various aspects of Cigniti’s digital engineering services, including requirements management, planning, technical solution, risk & opportunity management, and quality assurance.

Happiest Minds Technologies honored with STPI Exports & Excellence Awards 2021-22

Happiest Minds Technologies honored

India,19th May 2023 Happiest Minds Technologies Limited (NSE: HAPPSTMNDS), a ‘Born Digital . Born Agile’, Mindful IT Company, today announced that it has been conferred with the Software Technology Parks of India (STPI) Exports & Excellence Special Jury Award Promising Debutant Indian Category. The award is presented in recognition of contributions made by the STP/IT units in exports, employment generation, innovation, and boosting the overall economy and prosperity of the State of Odisha. The award ceremony was organized by STPI, part of Transforming Odisha Conclave 2023, the Economic Times & co-hosted by the E & IT Department, Government of Odisha, on May 11, 2023, at Hotel Taj Vivanta, Bhubaneswar.

STPI, an autonomous society under the Ministry of Electronics and Information Technology, Govt. of India, has been set up with a distinct focus on boosting Software export from the country. STPI-Bhubaneswar has played a seminal role in promoting IT/ITeS exports from the region by boosting tech entrepreneurship and creating employment opportunities for the local youth. STPI-Bhubaneswar was set up in 1990 and has operational centers at Berhampur, Rourkela, Patna, Ranchi, and Deoghar.

Mr. Venkatraman Narayanan, MD & CFO, Happiest Minds Technologies, said, “We are excited to receive the STPI Exports & Excellence Awards within the first year of starting operations in the State. Odisha is a regional tech hub with a large talent pool, supported by a business-friendly Government, making it a preferred location for us.”

In 2022, Happiest Minds announced its expansion plans in Odisha with a new software Development Centre at Fortune Towers in Bhubaneswar, taking forward its long-term investment plans for further expansion in the state in alignment with the Make in Odisha focus of the state government.

Designed for perpetuity, Happiest Minds is recognized among India’s Top 10 ‘India’s Best Workplaces™ in Health and Wellness 2022, and Top 50 India’s Best Workplaces for Building a Culture of Innovation by All™ 2023 by the Great Place to Work® Institute. The company has also won the prestigious Golden Peacock Award for Excellence in Corporate Governance 2022.

Krones expands its capabilities in process technology with the acquisition of US company Ampco Pumps

Krones expands its capabilities in process technology

On 22 April 2023, Krones signed an agreement to acquire 90% of Ampco Pumps Company LLC (Ampco Pumps). Based in Wisconsin, USA, Ampco Pumps is supplying sanitary pumps and applied products like mixing and blending equipment to the food, beverage, dairy processing, personal care, and pharmaceutical markets. The company has more than 70 years of history in the pump market and is a key player for sanitary pumps in the US food and beverage market.

In the 2022 fiscal year, Ampco Pumps generated a workforce of more than 130 employees and revenue of approx. US$50 million and a high EBITDA margin. The transaction will increase the profitability margin of the “Process Technology” segment as well as the group margin of Krones. Current Ampco management will remain and will continue to hold 10% of the shares of Ampco. Krones has the option to buy the 10% of the shares in the future.

The acquisition of Ampco Pumps is a major step in expanding the components business of Krones Processing. With Ampco Pumps and Evoguard Valve Technology Krones has now a broad portfolio of all key components for the processing technology market. In addition, the businesses of the two companies complement each other perfectly in regional terms.

The transaction is subject to approval under the relevant antitrust legislation. Krones expects the transaction to be completed (closing) within the first half of 2023. As of the closing date, Krones will consolidate the figures of Ampco Pumps in the “Process Technology” segment.

CoinSwitch ties up with Jump.trade for Metaverse–led advertising with Digital Lands

JT X CoinSwitch

Asia, 18 April, 2023: Jump.trade, the flagship NFT marketplace of the 360° digital collectible technology enablement platform GuardianLink, announced its partnership with CoinSwitch, India’s largest crypto investing platform. CoinSwitch has entered into this partnership with Jump.trade through a unique proposition for brands to advertise in the Web3 space in the upcoming game by Jump.trade, RADDX Racing Metaverse.

Jump.trade announced the launch of its first racing game RADDX Racing Metaverse earlier this year, and its pre-booking of the RADDX Racing Metaverse NFTs has met with massive success. The game metaverse also opened opportunities for brands and individuals to purchase virtual real estate elements within the game that can be used for commercial purposes like advertising, event-hosting, and a lot more.

Brands like Flipkart and Thoughtworks have already expressed their interest in purchasing Digital Lands NFTs in RADDX Racing Metaverse. At this juncture, CoinSwitch, has also entered into a partnership with Jump.trade This goes in line with the endeavors of CoinSwitch to be an enabler of Web3 innovation in India.

The partnership between Jump.trade and CoinSwitch also shows how Indian brands in the Web3 space have strived to create a symbiosis between each other, so the overall positioning of India in this emerging technology can be strengthened. It is to be noted that Jump.trade, in the last week, surpassed brands like OpenSea to become the number one NFT marketplace on the Polygon Network.

Speaking of this partnership, Kameshwaran Elangovan, COO, Jump.trade said, “The purchase of Digital Lands by CoinSwitch shows how crypto brands, especially in the subcontinent, are getting into the NFT/Web3 space to expand their presence. This is a healthy show of how crypto and NFT brands can work with each other helping Web3 adoption and penetration in India!”

Swati Pincha, Head of Growth, CoinSwitch, added, “An essential principle of growth marketing is to meet users where they are. That is why the metaverse is quickly becoming a must-explore frontier. It is an interactive, collaborative online world that allows people to create, explore, and connect in previously impossible ways. We are thrilled to be part of this innovation wave and associate with RADDX Racing Metaverse. It is exciting to be part of an initiative that blurs the lines between physical and virtual realities, and we can’t wait to see where this immersive journey takes us.”

RADDX Racing Metaverse is to be an engaging and immersive game with elements like cop chases and high-octane races. The Digital Lands is likely to revolutionize advertising as the metaverse will be one of the most prominent hang-out joints, especially for the Gen-Z audience. This would mean that games like RADDX Racing Metaverse are ideal spaces for brands that would like to reach the newer segment of their target audience. CoinSwitch getting into this space proves that it is not only the traditionally rooted brands but even new-age business brands like crypto investing platforms can also capitalize on Web3 advertising.

Indeed’s Hiring Tracker reveals close to half of Indian workers don’t plan to hop jobs in 2023

Bengaluru, 18 April 2023: The latest findings from the quarterly hiring tracker released by the world’s #1 job site, Indeed, reveal that a majority of Indian jobseekers (47%) are not looking to switch jobs in 2023. In what was considered to be the era of great resignation, employees are bucking the trend by choosing to stay put in their current organizations, with over 37% of all job seekers looking to prioritize their career growth in 2023.

The survey further reveals a considerable dip in hiring and suggests that only 53% of the employers surveyed had hired in this quarter, down from 64% in the previous quarter (October to December 2022).

Mr. Sashi Kumar, Head of Sales, Indeed India said, “Amidst the ongoing uncertainties, the overall sentiment of job seekers and employers seems to be cautious. However, some sectors like BFSI and healthcare are witnessing significant hiring, showcasing a strong future for these areas. Additionally, in 2023, the acceptance of the gig economy at large is also expected to strengthen the job market. Employers now need to focus on devising ways in which they can retain and continue to attract this talent pool.”

The BFSI sector witnessed the most significant hiring with 71% of the sector’s employers hiring during the quarter. Healthcare (64%) and Construction & Real Estate (57%) were the other two sectors that hired substantially. In contrast, Media & Entertainment (49%), IT/ITeS (29%), and Manufacturing (39%) sectors saw the least hiring during the quarter.

The findings further suggest that there was a substantial increase in the proportion of employers hiring for mid-level (27%, up from 23% last quarter) and senior-level roles ((12%, up from 9% last quarter). The proportion of jobseekers entering the job market for the first time has also risen to 23% from 16% in the previous quarter.

Workplace Trends in 2023

Interestingly, the survey reveals that working from the office has emerged as the favored work mode for current jobseekers, with 57% preferring to work from the office. Similarly, most employees are undertaking upskilling programs, professional developmental tools, and mentorship programs. About 47% of all employers are providing upskilling programs to their employees.

Certifications and learning platforms to boost skill sets (67% of jobseekers) is the prime strategy for jobseekers to remain competitive in the year 2023. This is followed by sharpening existing skill sets and performing better in their role (41% of job seekers).

Top Roles, skills, and employee job preferences

The most in-demand job role for the current quarter was for Retail Sales Associate (41% of all employers) followed by Project Engineer (23%) and Marketing Analyst (20%). In terms of the most hired skills in the current quarter, tech skills such as SQL, NoSQL & MongoDB, APIs, CCNA, CCNP, Zigbee, WiSUN, and Z-Wave are the top skills being sought after by employers. Communication, critical thinking, problem-solving, and decision-making are the top three soft skills that employers are looking for. Most hiring during the quarter was in functional areas of Production/Manufacturing (31%, up from 29% last quarter) followed by Sales (29%, up from 17% last quarter) and Marketing (27%, up from 21% last quarter).

From an employee perspective, the following are the functions jobseekers prefer in the quarter of January 2023 – March 2023

Preferred functions for jobseekers
Function Percentage of employees
IT 26%
Marketing 18%
Sales 15%
Production/Manufacturing 13%
Accounts & Finance 9%

Methodology

This survey was conducted by Valuvox on behalf of Indeed amongst 1,157 employers and 1,583 jobseekers and employees during the months of January and February 2023. The survey respondents were segregated into cities, and further categorized into large, medium, and small organizations, and then into sectors.