Latest news with #MNC
Time of India
11 hours ago
- Business
- Time of India
How TN can trump tariffs
Is the glass half full or half empty? The Trump administration's tariff regime has created upheavals in world trade. Tamil Nadu, however, sees an opportunity both for its MSME sector as well as the big-ticket MNC investors. For the MSME sector — backbone of the state's export performance in competing with Thailand, Vietnam and Cambodia — it's a chance to find newer markets and products. For the MNC manufacturing investors, it's a chance to boost local sourcing thus growing the MSME vendor base. 'The ongoing tariff shifts and global realignments in trade may have opened a window of opportunity for Tamil Nadu's MSMEs in certain sectors,' says industries minister T R B Rajaa. 'While Vietnam and Thailand are often cited as alternatives, Tamil Nadu has a distinct edge. We have a highly skilled talent pool and a mature manufacturing ecosystem across multiple sectors,' he adds. There's reason for this optimism. According to the latest NIRYAT data, Tamil Nadu's overall exports hit $52 billion by FY24-25, up 19.5% from $43.5 billion in FY23-24. Of this, $18 billion is engineering goods including automotive components, $14.6 billion is electronics and $5.4 billion is ready-made garments. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like CFD: Invertir $100 con IA podría devolverte un segundo salario Digital Group Prueba ahora Undo MSMEs are the backbone of exports in India – the number of exporting units increased from 52,849 in FY20-21 to 1,73,350 in FY24-25. And TN is the third biggest exporting state after Gujarat and Maharashtra. TN-based major manufacturers have been expanding to non-North American markets. Ashok Leyland, which saw a 52% jump in export volumes in Q4, has said it is targeting GCC (Gulf cooperation council) and African markets in a big way. TVS Motor, which saw a 22% jump in FY25 exports, is shipping to markets in South and Southeast Asia, Latin America and Africa. TN's export strategy ties in with its push to attract new investments. 'We are pitching to companies around the world at a hectic pace to bring in large-scale investments and global supply chains,' says Rajaa. 'MSMEs are at the core of this growth story, and we encourage them to leverage emerging opportunities,' he adds. 'Tamil Nadu has a wide range of MSMEs and our focus is to make the quality of products export worthy,' says Atul Anand MSME secretary. 'The state's large number of clusters helps with making these companies export worthy.' The good news is that TN's MNC investors are also looking at the tariff scenario as a window to increase local footprint. 'While our shipments and exports to the US are continuing without disruption, we are looking at potential uncertainty in other regions where we operate, including Southeast Asia, home to our largest factories, and Taiwan,' says Niranjan Nayak, MD, Delta Electronics India. Thailand is Delta's largest base of operations in addition to Taiwan and China. 'Future attractiveness might be lower [in these regions] or there could be a degree of uncertainty and this gives us an opportunity to increase our manufacturing capability here in India because, based on the current tariffs, India is not in a significantly negative position,' he says. The state's MSMEs can look forward to domestic opportunities too. For, tariffs will affect the supply chains of all businesses, and big manufacturing will boost local sourcing to survive. That means new business for MSME vendors. 'The tariffs will have a direct or indirect impact on everyone. Aligned with the 'Make in India' initiative, we are advancing our localization efforts right down to the smallest components so we don't get impacted by global scenarios,' says Syed Sajjadh Ali, MD, electrical sector, India, Eaton. Lower dependence on the global supply chain means 'an upper hand in terms of cost reduction' and 'the vendor base is happy to get into new business as volumes ramp up'. 'We are seeing growing interest from international investors who are looking to diversify their sourcing beyond China,' says Rajaa. Now, that has expanded to cover Southeast Asia. For Tamil Nadu, it can only spell opportunity. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Independent Singapore
a day ago
- Health
- Independent Singapore
Former teacher takes pay cut for career change and falls in love with her new ‘eight-to-five' admin job, ‘glued to the chair typing away'
SINGAPORE: A former teacher has taken to Reddit to reflect on her bold career switch, revealing that despite a significant pay cut, walking away from teaching turned out to be one of the best choices she has ever made. In a candid post on the r/askSingapore forum, the woman shared that while she didn't hate teaching, she dreaded going to work every day during her four years in the profession. She explained that her daily routine began as early as 6:45 a.m. and often stretched well beyond 6 p.m. due to lesson preparations and extracurricular activities. She also worked close to five and a half days a week, leaving her with virtually no time or energy for herself. 'I dreaded it so badly. Waking up and going to work was a chore and had zero work-life balance,' she wrote. 'When I reach home, I'm so exhausted I can barely do anything else. Parents also love to contact us after working hours, and back then, my principal was adamant about us replying to them, or it would seem like we did not care about the kids' well-being. My health was on a decline, mentally and physically.' Feeling worn out and increasingly disconnected from the joy of teaching, she made the tough decision to leave the profession. 'I finally decided to leave the role and went to do a low-paying office administration job. Struggled a little at first, but I learned quickly and went on to switch to HR Team at an MNC,' she wrote. Crazy enough, I love it so much, I love coming to the office, I love working eight to five, I love my job, and I love sitting at a desk, glued to the chair typing away,' she expressed. 'Every time I tell my coworkers or friends who have been working office jobs since graduation, they all tell me I'm crazy, but this is truly an upgrade from my teacher role.' Ending her post, she asked her fellow users, 'Has anyone been in the same boat as me? Want to know your story too!' 'Find a job you love and you'll never work a day in your life…' Many Reddit users resonated with her story, responding with their own experiences or observations about the teaching profession in Singapore. Several pointed out that her struggles were far from unique, saying they had friends or family members in education who also felt overwhelmed and underappreciated. One shared, 'Friends in teaching all tell me that they are exhausted. It's often the connect plan that keeps them going.' Another commented, 'I've been a teacher for more than 10 years, and the recent few years have been especially bad for me mentally. I still love the job and teaching, but somehow, there has been more stress from non-teaching-related things. This year has been especially bad. I have been waking up at 3 a.m. and basically staying awake until my alarm goes off at 5 a.m. plus. Thinking of calling it quits before I lose my mind.' Others also commended the woman for having the courage to step away from a career she was once passionate about to prioritise her mental well-being. One added, 'Fantastic to hear. Find a job you love, and you'll never work a day in your life. I've seen so much general negativity on this Reddit, and it's great to see someone like you.' Another added, 'Thank you for sharing about your wonderful career transition. It gives me hope.' Nearly one in four teachers in Singapore say they experience high work stress In 2022, the Ministry of Education shared on its website that fewer than one in 20 teachers who resigned over the past five years cited workload or job-related stress as the main reason for leaving the profession. However, this statistic may not fully capture the day-to-day challenges faced by many educators. In fact, surveys reveal that nearly a quarter of teachers in Singapore (approximately 23%) report experiencing a high level of work-related stress. This figure is notably higher than the average among Organisation for Economic Co-operation and Development (OECD) countries, where around 18% of teachers report feeling this level of pressure. Read also: 'Even dogs get treated better': Singaporean man says his home felt more like a prison than a place to grow up Featured image by freepik (for illustration purposes only)
Time of India
a day ago
- Business
- Time of India
The primary market puzzle: Too much, yet too little?
Typically, when primary markets are buzzing with palpable action, it is often a reflection of surging business confidence and economic momentum. When companies raise large sums of money through IPOs and QIPs (Qualified Institutional Placements), that new capital often flows into productive uses—new projects, capacity expansion, technology upgrades, and other capital investments. Given the well-known multiplier effect of such investments, this can set off a virtuous cycle of economic growth. That is how usually the rub-off effect plays out for the economy from the robust primary flows. Is that the case now too? FY25 saw a remarkable surge in capital raising, with over ₹3.14 trillion mobilized through IPOs and QIPs—a level rarely seen before. In fact, it's hard to recall any prior instance when Indian markets saw such a deluge of primary fund inflows. It could very well be a historical first. So, the natural question is: Are we about to witness a new wave of economic growth, this time powered by private capex turn? Let's dive in to dig deeper to find the answers. Live Events For this exercise, all that we need to do is to go back and assess how the funds raised in the previous year translated into actual capital investments. In terms of fundraising from primary markets, FY24 was not far behind the year gone by (FY25). It was equally a blockbuster year in its own right - though the overall quantum was smaller compared to the surge seen in FY25, it still marked a significant uptick in the primary market led primarily by QIP . Markets witnessed fundraising of over Rs 1.40tn from primary markets in the year FY24, predominantly driven by QIPs which constituted over 54% of the overall quantum. This much is well known. But what has not received the deserved attention is how these funds were utilized subsequently. Surprisingly, only a little over a quarter of the capital raised was actually deployed in new projects or any capacity expansion. A significant share went towards debt repayment and general-purpose corporate expenditure, while a substantial portion found its way into the hands of institutional investors or promoters through Offer for Sale ( OFS ) route. The story is no different for FY25 with new capital projects receiving a meagre share of the overall fundraising. While this is good for the promoters and institutional investors, not so good for the economy. One doesn't need to go too far to understand this than to look at the much-trumpeted Hyundai IPO that happens to be the largest ever IPO India has seen. It was entirely an Offer for Sale (OFS) by the parent company, Hyundai Motor Company, involving the sale of a 17.5% stake in its Indian subsidiary. No new shares were issued, and the Indian entity did not receive any proceeds from the IPO. It is not going to stop here. Looking at the pipeline of IPOs, the story is likely to follow a similar script even in the current year. Many more MNC promoters are lining up to tap into the premium valuation that India offers to cash out in a hurry, especially given their financial challenges back home. It is a question of time before the LGs and Whirlpools of the world swing into this seductive IPO/QIP syndrome. Imagine, what kind of multiplier impact it would have had on the growth if a larger share of the fundraising had gone into new capital projects. That much for the IPO boom. It's intriguing—and somewhat concerning—that India Inc. has yet to fully unleash its animal spirits to invest in new projects and capacity expansion, especially at a time when the sun is clearly shining on the primary markets. For context, the share of private sector investment as a percentage of GDP has been stagnating around 11% for several years. There was a brief glimmer of improvement in FY23, when this figure inched up to 12.3% from 11.4% in FY22. However, this momentum failed to sustain. Despite a booming primary market in FY24, private investment slipped back to 11.2% and is estimated to have further dipped below the 11% mark in FY25—the lowest in over a decade, excluding the Covid-induced slump of FY21 when it fell to 10%. Global surplus capacity in many commodities, persistent Chinese dumping and the ongoing tariff related uncertainties could be the factors that are keeping India Inc. hesitant when it comes to unleashing new projects. It is hard to blame India Inc for not doing its due. Given the subdued global outlook, these challenges are unlikely to recede any time soon. This means that the wait for the ever-elusive turn in the private capex cycle may be longer than previously hoped by the markets. While the market may continue to pin its hopes for a quicker turn, one needs to keep a tab on where the money gets utilized from the ever-increasing fund raise in the primary markets for any hints on such a turn. Interesting Times! (The author, ArunaGiri N is the Founder CEO & Fund Manager at TrustLine Holdings)
Time of India
3 days ago
- Time of India
Jobless techie in Bengal kills parents, attacks four others after reading jihadi material online: Police report
Police investigations suggest Kabir had become radicalized and was reading jihadi material online. He had been divorced last year and lost his job at an MNC in Noida five months prior, after which he returned to live with his parents. Humayun Kabir, an unemployed engineer, was arrested after allegedly murdering his parents in Memari and attacking several individuals at a Bongaon madrasa. Police suspect Kabir had become radicalized through online jihadi material. The victims at the madrasa sustained severe injuries and are receiving treatment. Following Kabir's arrest, a riot erupted, leading to further arrests and police injuries. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Humayun Kabir, a 35-year-old unemployed engineer, was arrested on Wednesday after allegedly killing his parents in Memari, East Burdwan, and attacking several people at a madrasa in Bongaon, near the Bangladesh border, according to reports from Mohammad Asif & Sanjib Chakraborty, a TOI report investigations suggest Kabir had become radicalized and was reading jihadi material online . He had been divorced last year and lost his job at an MNC in Noida five months prior, after which he returned to live with his suspect Kabir intended to cross the border into Bangladesh. Police say he attacked teachers and staff at the madrasa after they did not answer his questions about Islam and jihad to his victims—Jafar Ali Mondal (46), Meheruddin Mondal (60), Sofiar Mondal (70), and Hasanur Molla (26)—sustained deep wounds to their heads, faces, hands, backs, and shoulders. They are currently receiving treatment at Bongaon Jiban Ratan Dhar Sub-Divisional Hospital. Their condition is critical but orphanage-madrasa is located near Eidgah Maidan in Motiganj, Bongaon Municipality, about six kilometres from the India-Bangladesh border. It has been serving the community for over 30 years. The incident has left students, teachers, and staff in Kabir's arrest, a crowd gathered at the Bongaon police station, demanding he be handed over to them. North 24 Parganas SP Dinesh Kumar stated that two police officers were injured in the ensuing riot, and "10 people had been arrested for rioting and attacking cops."A Bongaon court has remanded Kabir in police custody for three days. Special public prosecutor Samir Das told the court that the police require time to investigate his "extremist links."Investigators believe Kabir killed his parents, Musfatizur Rahman and Mumtaj Parveen, because they disagreed with his radical beliefs and tried to change knife used in the attacks was reportedly bought of Bongaon expressed shock at the attack. Debasish Mondal, a local resident, said, 'We live in peace. A Kali temple, a mosque, and this madrasa have coexisted in harmony for years. It is terrifying to see such violence in a place meant for orphaned children.'
Mint
3 days ago
- Business
- Mint
HSBC Visa Platinum Credit Card: Eligibility, documents and application process
Credit card users in India, who aspire to seek a no fee credit card with global rewards and travel benefits along with a host of other important features, may consider the HSBC Visa Platinum Credit Card. As of May 2025, HSBC India provides for an entirely digital application process designed keeping in mind the comfort and convenience of credit card applicants. The objective of introducing this card is to provide users with seamless access to credit and a premium user experience. Let us hence look at the basic eligibility criteria, documents required, key features along a straightforward five step process to apply and secure this credit card. To apply for the HSBC Platinum Credit Card, all aspirational applicants must meet the following criteria: Age : Between 18 and 65 years. : Between 18 and 65 years. Income : Minimum annual income of ₹ 4,00,000 for salaried individuals. : Minimum annual income of 4,00,000 for salaried individuals. Residence: The applicant must reside in one of the following cities: Bengaluru, Chennai, Gurugram, Hyderabad, Mumbai, New Delhi, Noida, or Pune. Note: The eligibility criteria discussed above is illustrative in nature. For the updated terms, conditions and eligibility refer to the official website of HSBC. Applicants need to provide the following documents: Latest salary slip or certificate (for MNC employees). Last 3 months bank account statements clearly showing salary credits. Original Aadhaar Card and electricity bill for residence. PAN card or Form 60 for further clarification regarding identity. Note: The eligibility documents discussed above are illustrative in nature. For the exhaustive list reach out to the official website of HSBC. Visit the HSBC website: Reach out to the official HSBC Visa Platinum Credit Card page to initiate the process of form submission. Click 'Apply Now': Initiate the online application process by clicking on the 'Apply Now' tab near the top right hand corner of your screen. Fill in personal details: Do ensure that you provide the relevant details and important information such as name, contact details, phone number, email address and income information etc. Upload the relevant documents: Once you have submitted the details also upload the relevant documents as requested. Documents such as PAN card, Aadhaar Card, passport details might be needed to satisfy the basic requirements. Complete the video KYC: As per the policies of the application procedure you might be required to undergo a video based Know Your Customer (KYC) verification process. Do submit the same as per instructions to complete the process. Note: The steps discussed above are illustrative in nature and more formalities might be needed on the part of applicants to submit the application. For complete details on the same refer to the official website of HSBC. Once the credit card application is complete, you will be accordingly informed by HSBC and your credit card will be provided to you as per your convenience and the address detailed by you in your application form. No joining or annual fees : Enjoy the benefits without any annual charges. : Enjoy the benefits without any annual charges. Reward points : Earn 2 reward points for every ₹ 150 you spend. : Earn 2 reward points for every 150 you spend. Fuel surcharge waiver : Save up to ₹ 3,000 annually on fuel surcharges. : Save up to 3,000 annually on fuel surcharges. Air miles conversion: Convert points into air miles with leading airlines. Hence, the HSBC Visa Platinum Credit Card offers a combination of global rewards along with lucrative travel benefits without any annual fee. Therefore, with a simple application process online and minimal documentation work aspirational individuals who meet the eligibility criteria can apply and secure this credit card in seamless fashion and make the most of its features and benefits. Disclaimer: Mint has a tie-up with fintechs for providing credit; you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit scores. Mint does not promote or encourage taking credit, as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.
