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Strong delivery segment growth likely in 2022 as online shopping behaviour takes roots among consumers: Vahan

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Despite the growing cases of the highly infectious Omicron variant of Covid-19 across the country, India’s flourishing blue-collar segment is anticipating higher demand growth for blue-collar workers across the delivery category in 2022.

Although this developing situation has raised some uncertainty of a possible third wave, there is a strong likelihood of it manifesting itself through/accelerating shift in consumer behaviour towards a more digital world and triggering lasting changes in online shopping behaviours.

Vahan, a technology startup that enables companies to hire blue-collar workers at scale, sees the year 2022 as one of further acceptance of online shopping behaviours by consumers across categories. The company believes that this emerging situation will lend support to a massive surge in demand for delivery workers where metros will contribute over 60 per cent of the overall demand in 2022 followed by tier two and tier three cities.

Vahan witnessed rapid demand for delivery workers in the August to November 1st week period last year fuelled by contests, discounts, incentives, etc. running across the board around the IPL season and T20 world cup.

A rapidly growing cohort of consumers identifies speed, convenience, and quality as the most important elements of a positive customer experience. This trend is likely to hold true in the near future where grocery delivery service providers will extend quick commerce service to attract and retain customers.

Vahan data shows that the grocery delivery service providers offered quick commerce and narrowed the delivery radius to 2-3 km during the festive season last year.

This stoked cyclist demand and brought more temporary workers thereby increasing the hiring pool. The company is expecting a month-on-month increase in demand close to 30 per cent across industries in 2022 as against 25 per cent across industries in 2021 with the food delivery category as the major contributor.

Bike taxis and food and grocery delivery have lent heft to the booming e-commerce industry in India. This has been corroborated by Vahan’s data which shows that companies hired almost double of their business-as-usual (BAU) numbers in the festive period of 2021.

As per Vahan, bike taxis emerged as a preferred mode of commute during the pandemic period and its sustained demand in the August to November 1 st week period indicates changing travel patterns of consumers at large. Vahan expects bike taxis to gain more popularity in 2022 with demand coming from all across the country and an upward spiral in demand for e-commerce in tier 2 and 3 cities with rising Internet penetration pan India and consequent changes in consumer buying habits.

The year 2021 was marked by the increasing focus of organisations in the delivery space to achieve gender parity at the workplace. This indicated a change in perception that delivery work is not appropriate for women. This trend is likely to take root in 2022 onwards and open space for the women to enhance their contribution to the delivery segment to 15 per cent in 2022 up from around 7-10 per cent of the overall hiring requirement per month of delivery staff across industries from food delivery to e-commerce in 2021.

According to Madhav Krishna, Co-founder and CEO, Vahan, “The blue-collar job market in India is set to repeat its astounding growth performance in 2022 as online shopping behaviour and preference for speedy delivery takes root in the country. Vahan, with its technology enabled recruitment platform which seamlessly connect employers and delivery workers effectively, with speed and at an unprecedented scale is clearly sitting in a sweet spot given the growing number of organisations embracing delivery model and increasing number of blue-collar workers wake up to a new dawn of comfort and convenience online recruitment portals like Vahan brings to them.”

India has over 250 million blue-collared workers, and this number is growing with a decline in agricultural employment and the addition of around 7-8 million new college graduates to the workforce every year, 60 per cent of which lack employability skills and end up joining the blue/grey-collar workforce. This presents a massive opportunity for placement in the blue-collar industry.

Interest in Vahan’s placement solution is high. It is currently recruiting 10,000+ people a month and is set to become India’s largest blue-collar recruitment platform in 2022.

Business

Indian stock market ends holiday-shortened week on positive note

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Mumbai, Oct 4: The Indian equities closed the holiday-shortened week with a positive bias after recent corrections as investors’ confidence was reinforced with the RBI’s growth stance, analysts said on Saturday.

On Friday, Sensex ended the session at 81,207.17, up 223.86 points or 0.28 per cent. Nifty closed at 24,894.25, up 57.95 points or 0.23 per cent. The Nifty extended its pullback for the second straight session, crossing above its key 50-DMA at 24,830 and forming a bullish candle on the daily chart. After last week’s steep decline, the index displayed signs of recovery by closing above the 24,800 mark.

According to market watchers, upgrading the FY26 GDP growth forecast by the RBI to 6.8 per cent and announcing landmark reforms led to outperformance in the banking sector.

“Metals continued their upward momentum, supported by optimism over an anticipated Fed rate cut in October, a softer dollar index, and steady base metal prices,” said Vinod Nair, Head of Research, Geojit Investments Ltd.

Meanwhile, gold extended its safe-haven appeal, while silver rose on the back of strong industrial demand and supply-side constraints.

Consumer-facing sectors gained momentum on expectations of festive demand, whereas IT and pharma lagged amid the lack of progress on the US-India trade pact, said analysts.

According to a note by Bajaj Broking Research, benchmark indices ended the truncated week on a positive note, posting gains of nearly 1 per cent.

PSU bank stocks were another major contributor, with the Nifty PSU Bank index climbing over 4 per cent for the week. In Friday’s session, metals, PSU banks, and consumer durables led the gains, each rising between 1 per cent and 2 per cent.

Bank Nifty continue to demonstrate notable strength over the past 3-4 sessions. The formation of a bullish candle with a higher high and higher low in the daily chart signals continuation of the positive momentum underpinned by strength in large cap banking stocks.

Looking ahead, market momentum is expected to be supported by strong H2 FY26 earnings and seasonal demand tailwinds, though global trade developments and US policy actions could inject short-term volatility, said analysts.

The Fed’s recent 25-bps rate cut, coupled with prospects of further easing, is likely to bolster FII inflows into emerging markets, they added.

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India’s growth firmly anchored in domestic factors amid global volatility: FM Sitharaman

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New Delhi, Oct 3: We are in an era of an unprecedented global volatility where rules of international engagement are being rewritten, but India’s growth is firmly rooted in domestic factors and the country’s capacity to absorb global shocks is strong, Finance Minister Nirmala Sitharaman said here on Friday.

She highlighted that India’s robust domestic factors minimise impact of global uncertainties.

“We are in a shifting global landscape which resembles a zero-sum approach. Indian economy is resilient and continues to grow sustainably,” FM Sitharaman said while delivering an inaugural address at the ‘Kautilya Economic Conclave 2025’ in the national capital.

“By 2047, becoming Viksit Bharat by self reliance does not mean we wish to be a closed economy. We have to reach 8 per cent GDP growth to get to the goal for a developed nation,” she told the gathering.

According to the Finance Minister, we cannot afford to be passive spectators in today’s era.

“We must be active participants. Nations need to make choices between new monetary architecture. No nation can insulate itself from systemic changes, we must prepare to engage with them. Tariffs, sanctions and decoupling strategies are reshaping supply chains. International institutions need to reflect today’s realities,” she stressed.

Finance Minister further stated that what we face is not a temporary disruption but a structural transformation.

“The scale of challenge is too big. We will be understating the challenge at hand; it is structural transformation,” she said.

“The world as a whole is looking to come out of uncertainty, the global order is shifting. The world that emerged out of cold war and pushed for globalisation seems to be a thing of the past. Rules of international engagement are being rewritten,” she mentioned.

FM Sitharaman pointed out that the global order is shifting, with multilateral institutions currently undermining confidence in the international community. She cited the recent G20 discussions, where experts deliberated on the need for reforms in multilateral institutions to restore stability.

Highlighting India’s twin-track approach, the finance minister said the nation aims to simultaneously attain developed economy status by 2047 and strengthen self-reliance, clarifying that self-reliance does not imply pursuing a closed economy.

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Sensex, Nifty open lower over sustained FII selling

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Mumbai, Oct 3: The Indian benchmark indices opened with mild losses on Friday due to sustained FII selling, despite positive global cues and market optimism driven by the Reserve Bank of India’s dovish pause.

As of 9.20 am, the Sensex was down 191 points, or 0.24 per cent at 80,792 and the Nifty declined 56 points, or 0.23 per cent at 24,780.

The broad cap indices, Nifty Midcap 100 and Nifty Smallcap 100, inched up 0.22 and 0.14 per cent respectively. Tata Steel, Axis Bank, Kotak Mahindra Bank, Tata Motors and Asian Paints were among major gainers on the Nifty pack, while losers included Max Healthcare, Bajaj Finance, Shriram Finance and ICICI Bank, among others.

Among sectoral indices, Nifty Metal, the top gainer, advanced 0.89 per cent. Nifty PSU Bank (up 0.59 per cent) and Nifty Pharma (up 0.30 per cent) were other major gainers. Nifty Media and Nifty FMCG were the top losers down 0.65 per cent and 0.45 per cent respectively.

Analysts said that from a technical perspective, a sustained move above 24,900 could pave the way for a rally toward 25,000 and 25,150. The immediate support is placed at 24,750 and 24,600, which may act as potential entry points for long trades.

The US markets ended in the green zone overnight, as Nasdaq edged up 0.39 per cent, the S&P 500 added 0.06 per cent, and the Dow moved up 0.17 per cent in the last trading session.

Asia-Pacific markets mostly rose Friday, tracking Wall Street gains as investors shrugged off the US government shutdown. Investors are waiting to see how long the shutdown will last to assess the gravity of its economic repercussions.

While China’s Shanghai index added 0.52 per cent, and Shenzhen advanced 0.35 per cent, Japan’s Nikkei added 1.44 per cent, while Hong Kong’s Hang Seng Index declined 0.84 per cent. South Korea’s Kospi added 2.70 per cent.

Analysts said that the central bank’s bold initiatives to boost credit growth in the economy can positively sustain the momentum in the market, particularly in Bank Nifty. However, the sustained selling by FIIs in the market is unlikely to sustain this momentum.

FIIs are likely to further accelerate selling since the market construct provides them the opportunity to sell aggressively. Robust buying from DIIs can provide some support to the market, particularly in large-cap auto stocks, which have strong fundamental support now, they added.

In the last trading session on Wednesday, foreign institutional investors (FIIs) sold equities worth Rs 1,605 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 2,916 crore.

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