India ranks third in the world for women working in senior management positions, according to the Women in Business 2021 report by global accounting and consulting firm Grant Thornton.
The percentage of women in senior management for India stood at 39 per cent, as against the global average of 31 per cent, which signals the changing outlook of Indian businesses towards working women.
The percentage of women leaders across key positions in C-Suite in the country also emerged higher than the global average in the report. While globally, businesses with at least one woman in the senior management role increased to 90 per cent, the same stands at 98 per cent in India. In fact, 47 per cent of mid-market businesses in India now have women CEOs compared with 26 per cent globally.
Sharing her views on the report findings, Pallavi Joshi Bakhru, Partner, Grant Thornton Bharat, said: “Under the challenging circumstances of 2020, the boundaries between work and home have blurred. In this scenario, it is good to see action being taken by businesses to ensure employee engagement and inclusion.”
As per Vishesh C. Chandiok, CEO, Grant Thornton Bharat, the findings from the report reflect the willingness of businesses to adapt, innovate and create a diverse culture. “It is heartening to note India ranks higher than its global counterparts in creating a gender inclusive culture. We are third with 39 per cent women in senior management positions. With more women taking on leadership roles and diversity on board, businesses will open new opportunities for growth.”
The report also covers the impact of Covid-19 in the workplace, especially on women. A total of 88 per cent respondents in India believe new working practices will benefit women’s career trajectories in the long term compared with 69 per cent globally. ‘Innovative’, ‘adaptive to change’ and ‘courageous to take risks’ will emerge as top leadership traits in 2021.
Small LPG cylinders, financial services at FPS proposed
The Centre on Wednesday proposed to sell small LPG cylinders through Fair Price Shops (FPS) across the country.
There is a proposal to provide financial services through FPS and extending MUDRA loans to its dealers for capital augmentation.
There are a total of 5.32 lakh FPS in the country. With this step, the Centre is aiming at taking its services closer to poorer and needy consumers.
Focussing on enhancing financial viability of FPS, Department of Food and Public Distribution Secretary, Sudhanshu Pandey in a video conference with representatives of multiple ministries and PSUs stressed on the need of taking proactive measures for the same.
The representatives from oil marketing companies appreciated the proposal for retail selling of small LPG cylinders through FPS and informed that “necessary support required would be provided for the same in coordination with interested state or Union Territory (UT) governments,” said a release from the Ministry of Consumer Affairs, Food and Public Distribution in New Delhi.
The representative from the Department of Financial Services appreciated the government’s proposal to provide financial services through FPS, extending MUDRA loans to FPS dealers for capital augmentation and informed that necessary support would be provided for it in coordination with interested state or UT governments.
Earlier, the CEO, Common Service Centre (CSC), gave a presentation about the various service offerings provided by it. An update on the activities undertaken by CSC to tie-up with individual state or UT governments to take this initiative forward was presented, too.
Set up under the Ministry of Electronics and Information Technology, the CSC scheme provides a centralised and collaborative framework for delivery of services to the citizens.
In his concluding remarks, Sudhanshu Pandey mentioned that different states or UTs can take up these initiatives and tailor them to suit their individual requirements.
Representatives from the Ministry of Electronics and Information Technology, Department of Financial Services, Ministry of Petroleum and Natural Gas, Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited, CSC e-Governance Services India Limited and all states/UTs participated in the virtual conference, the release added.
Google logs record $18.9 bn profit, Search and YouTube soar
Alphabet, the parent company of Google, has posted an all-time record revenue of $61.9 billion for the July-September quarter, along with record profits at $18.9 billion.
Google Services revenues were $59.9 billion, up 41 per cent, and Google Search and other advertising revenues of $37.9 million in the quarter were up 44 per cent.
The company said in a statement late on Tuesday that YouTube advertising revenues of $7.2 billion were up 43 per cent due to strength in both direct response and brand advertising.
“Our long-term investments in AI and Google Cloud are helping us drive significant improvements in everyone’s digital experience,” said Sundar Pichai, CEO of Alphabet and Google.
“Search remains the heart of what we do. We have made remarkable advances over the past 23 years that benefits Search and related products like Google Assistant, which just celebrated five years,” he added.
For Google Cloud, the revenues were $5 billion for the third quarter, up 45 per cent.
“Google Cloud Platform’s (GCP) revenue growth was again above cloud overall, reflecting significant growth in both infrastructure and platform services,” said Ruth Porat, Senior Vice President and Chief Financial Officer.
At the Alphabet level, headcount grew by nearly 6,000 in the third quarter, including seasonal campus hires.
“We expect robust headcount growth in Q4 for both Google Services and Google Cloud,” the company said.
Alphabet said that with respect to foreign exchange impact on reported revenues, it expects virtually no impact in Q4 in contrast to a 1.5 per cent tailwind in Q3 and 4 per cent in its Q2.
Petrol, diesel rates raised again by 35 paise/ltr
Petrol and diesel prices increased again on Wednesday after a two-day break as global oil prices failed to relent and continued to remain firm.
Accordingly, the pump price of petrol in Delhi increased by 35 paise per litre to jump to Rs 107.94 a litre while diesel prices also increased by the same margin to reach Rs 96.67 a litre, according to a price notification of state-owned fuel retailers.
In the financial capital Mumbai, petrol prices have now risen to Rs 113.80 per litre while diesel to Rs 104.8 5 a litre, the highest among all metros.
Across the country as well petrol and diesel prices increased between 35-40 paise per litre, but their retail rates varied depending on the level of local taxes on petroleum products.
The fuel prices remained static last week on Monday and Tuesday, but had risen for four straight days by 35 paise per litre previously before again rising for five consecutive days between Wednesday and Sunday. It remained static again on Monday and Tuesday before rising again on Wednesday. There was no change in rates on October 12 and 13.
Diesel prices have now increased for 25 of the last 33 days taking up its retail price by Rs 8.15 per litre in Delhi.
With diesel prices rising sharply, the fuel is now available at over Rs 100 a litre in several parts of the country. This dubious distinction was earlier available to petrol that had crossed Rs 100 a litre-mark across the country a few months earlier.
Petrol prices had maintained stability since September 5, but oil companies finally raised the pump prices last week and this week given a spurt in the product prices lately. Petrol prices have also risen on 22 of the previous 29 days taking up its pump price by Rs 6.75 per litre.
Crude prices have been on a surge rising over three year high level of over $ 86 a barrel now as global demand remains firm while OPEC+ continues to move slowly on increasing production. Since September 5, when both petrol and diesel prices were revised, the price of petrol and diesel in the international market is higher by around $9-10 per barrel as compared to average prices during August.
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