The 28 major IT companies with operations in Hinjewadi, Pune have agreed to a no-poaching pact to end the fierce talent wars between them. They will implement a code of ethics whereby employees cannot join a new company without a relieving letter from their previous employer. This aims to reduce the 17% attrition rates that have crippled the companies and resulted in estimated revenue losses of 5%. The 28 companies covered by the pact employ 100,000 of Pune's 250,000 IT professionals and account for Rs. 19,000 Cr of the city's Rs. 48,000 Cr software exports.

1. WEEKEND NEWS SUBMITTED BY : NEHA SINGLA MBA 2C

2. PUNE IT COS INK PEACE PACT TO END TALENT WAR The $ 50 million IT industry may be fighting a fierce war for talents, as it tries to claw back to a double digit growth rate in current year. 28 residents of Hinjewadi including top companies name like Infosys, TCS, Cognizant, and Wipro are ruthlessly poached talent from each other. At their first meeting hosted at Infosys campus, CXO level representatives from all 28 companies and explored a no- poaching agreement. Infosys Hinjewadi largest employer with 42000 on it rolls. Companies have agreed that new employees can not join without a relieving letter from the previous employee. All of this will be spelt out in a code of ethics that will be announced by the HR department. These 28 companies account for 100000 of the 250000 IT professionals employed in PUNE.

3. They contribute at least Rs. 19000 Cr of the RS. 48000 Crore worth of software exporter from Pune. Companies have been crippled by 17% attrition leading to a estimate loss of about 5% of the total revenues. Hinjewadi account for 6-8% of the sector’s total revenue, it is more takers across other IT hobs in the country. The industry ids adding to about 90000 people more to the base of 2.3 million employees. Infosys has reported an attrition of 16% during this quarter which was highest in 12 months. It companies in India could be losing close to $ 2 million annually to attrition including loss of productivity and expenditures to find the replacements.

4. Indian it giants have been Shortlisted by insurance regulator IRDA for technical bidding to implement its enterprise resource planning ( ERP) system. The pre bid meeting to select the IT partner for implementing the project. Besides, TCS, INFOSYS and Wipro, three firms including Mahindra Satyam have been selected for technical bidding. ERP is an integrated software which customize IRDA’S various activities including human resource manage, accounting, payroll administration, databases and other tools and accessories. TCS , Wipro and Infosys in race for IRDA IT project

5. Rattan Tata who has spent the better part of his life in the last two decades unifying a Tata group and giving it as a vision and long term focus. He said that company is not pushing me out, I have chosen to find the time to do the things that I have always wanted to do. Tata sons, the holding company of the 4 71 billion salt to software announced by the five member panel in to achieve the successor to Mr. Tata. This is the effort done by the Indian business group to professionalise the search for a new leader. Tata looking forward to life after retirement

6. He expressed personal satisfaction with the two recent important developments, the reopening of the terror scarred Taj Mehal Place Hotel and the strong showing of the Tata motors –JRL combine with the British company contributing half the consolidated revenues for the parent company. JRL’S HAS VINDICATED his strategy of paying $ 2.3 billion for the marquee British car brands.

7. Inbox: U have got a Coupn A growing number of brands and the retail chains are drawing up plans to make a big play with both mobile and internet couons. The market for such coupons currently estimated at approximately Rs. 20-25 Cr. Coupons have the potential to grow to a $ billion market in India in ten years. Businesses that are coupons friendly are about $ 100-120 billion in India. Even a 1-2% share of it will be huge. Mobile couponing campaign ranges from SMS, WAP, mobile applications that are suitable for a brand or a retailer. Offers can be redeemed by presenting SMS/ WAP page. For web coupon , a customer needs to carry a print out of the coupon and avail the offer. Spencer’s retail has undertaken pilots for mobile coupons in Bangalore and Kolkata. The RPG group retail flagship has seen redemption rates at around 20%. Infiniti retail ltd, the Tata group’s electronics retail arm which runs 52 croma stores for evaluating internet and mobile coupons.

8. Textile Exports order rise 205 on US, EUROPE DEMAND COUNTRY TOP TETILE EXPORTER S including Gokaldas Exports, AlokIndustries, Arvind mills, orient craft and house of pearls have seen 20% increase in export orders in the first five Months of the current fiscal over the year ago period. The growth in demand has come on back of improving economic prospects in the US and Europe besides the appreciation of Yuan that makes sourcing from china relatively costlier.

9. CISCO RE-ORGANISING ITS OPERATIONS In one the biggest changes since networking major Cisco set up a second global head quarter s in India, the multinational is reorganising its operations along the industry line. The reconstructing will be global and will happen in a phase manner across different region but it will specifically to India because of its proximity to its second global headquarters in Bangalore. The reorganising of India sales arm along with the industry lines will help Cisco India pioneer more relevant and greater number of innovations for emerging economies.

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