A report by Bain & Company predicted that the India Agritech sector to grow to form a $30 bn-$35bn market in the next four years. Globally, India ranks third in receiving agritech funding with over $1bn from 2017-2020. Investment in this domain in India has increased at a CAGR of 53%. Online grocery buyers are expected to grow five times by 2025. The report points out that this sector is the least digitized and there is an urgent need for urbanisation.
Maximl announced that it had won a contract worth $1mn from Indian oil to digitise last-mile operations at nine of its refineries for the next two years. Digitalisation will help increase the productivity of the employees by over 5% and reduce the risk of safety incidents and delays that can save 2-4 cr in a turnaround. Maximl has been a part of digitising over 50 turnarounds in the Indian refining sector.
Cognizant India released a statement on Thursday saying they made over 28,000 campus offers to young talent across the country. This is a step towards meeting the growing demand for digital products and solutions from clients. Cognizant has projected a 7-9% growth in revenue this year. With the highest campus acceptance rate in the country at 81%, Cognizant remains very confident in standing as a magnet for skilled talent and a great place to build a career.
DXC Technology will hire 7,000 freshers in India this year, 56% up from 4,500 recruited in the year 2020, as it aims to fulfill demands of digitalization from clients wanting to digitally transform businesses. DXC was formed by the merger of Computer Sciences Corp and the enterprise service arm of HP Enterprise. The company has 40,000 employees in India, of the 138,000 global workforces. It is also developing and reskilling the existing workforce for digital roles.
Accenture, in a report, said that boardrooms of banks lack tech expertise and digital knowledge despite the rise in digitalisation over the past few years. The report, based on the analysis of the professional experience of 2,000 directors of 100 of the world’s largest banks by assets, revealed that only 10% of all board directors and 10% of the CEOs of banks have professional tech experience. Accenture recommends that 25% of banks’ board directors should have tech experience.