W Power 2024

Morning buzz: India Inc to hike salaries by 9-10 percent, India won't increase scope of laptop import curbs, and more

Here are the top business headlines this morning, to get your day started

Samar Srivastava
Published: Nov 3, 2023 10:42:17 AM IST
Updated: Nov 3, 2023 04:16:17 PM IST

Morning buzz: India Inc to hike salaries by 9-10 percent, India won't increase scope of laptop import curbs, and moreSalary hikes in 2024 are expected to be a little lower than 2023, with the average hike at 9.4 percent. Image: Shutterstock

India Inc to hike salaries by 9-10 percent

Salary hikes in 2024 are expected to be a little lower than 2023, with the average hike at 9.4 percent. This is compared to the 10.6 percent hike in 2023. Consulting companies that look at data across industries also expect the manufacturing, engineering, retail and pharma sectors to offer hikes higher than the trend. Top performers may get slightly higher hikes as companies go all out to retain talent.
(Mint)

India not to increase scope of laptop import curbs

India has no plans to extend the import curbs for laptops, tablets and printers. The US had raised a query in the WTO on whether India expects to impose further curbs. India had cited security concerns behind the import curbs as most of the imports come from China. The country also wants to boost manufacturing under the PLI scheme.
(BusinessLine)

Adani airport arm becomes third largest revenue generator in the group

Adani’s airport arm has become the third largest revenue generator in the group. In Q2 FY24 it recorded revenues of Rs 1,905 crore, up from Rs 1,292 crore in the same period last fiscal year. The airport arm runs seven airports—Mumbai, Navi Mumbai (under construction), Ahmedabad, Trivandrum, Jaipur, Lucknow, Guwahati and Mangaluru. There airports serve 23 percent of the total passengers in the country.
(BusinessLine)

Abnormal monsoon rains lead up rise in MNREGA demand

In an unusual trend, the demand for work under the rural employment guarantee scheme grew during the monsoon season. This shows that erratic rains prevented the migration of rural labour back to farming, forcing them to stick to daily wage work under the MNREGA. Work demands grew in the range of 9.5 percent to 19.5 percent each month between July and October. In October 21.95 million people took work under the scheme.
(Economic Times)

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