India Business News: With the festive season on the horizon, the BFSI sector is expected to generate 50,000 temporary jobs in the second half of the year to meet the surge
India Inc s revenue growth in Q2 has been the weakest in nine quarters, rising by 6.2%, according to a sample of 3,901 companies. Net profit on the other hand rose by 39%, the highest in six quarters, helped by easing input costs. The banking, financial services, and insurance (BFSI) sector supported aggregate earnings. Excluding banking and finance firms, revenue and net profit growth slowed to 2.3% and 33.6% respectively.
“Customers used to give the big bank projects to one particular IT vendor and that is not happening in the past few years. While that has been broken down into smaller projects and that is partly a reason why growth is slowing down. The BFSI sector is also slowing down a bit in the US and Europe, given the high interest rates.”
From the BFSI sector s perspective, the demand for temporary workers during the festive season has shown a consistent rise not only in tier-I cities like Ahmedabad, Pune, Bengaluru and Kolkata, but also in tier-II and tier-III cities such as Kochi, Vizag, Madurai, Lucknow, Chandigarh, Amritsar, Bhopal, and Raipur.
"It is very important to implement a monetization strategy that suits your asset. For example, you can have a subscription model, which is favoured by content creators right now. You can choose the right platform because it is very important for example, for music or videos, you can maybe use YouTube, maybe Spotify for that matter. Digital marketing techniques are very important."