Monday, 22 May 2023

Reliance’s JioMart cuts 1,000 jobs, there may be more 'bad news' coming

 After starting a distribution price war last year, Reliance Industries’ online wholesale format JioMart has reportedly laid off more than 1,000 employees. According to a report in Economic Times (E), the job cuts at the company come as it aligns operations with the recently-acquired Metro Cash and Carry.

“The company has asked over 1,000 people on ground including 500 executives at its corporate office to resign over the past few days. It also plans to have another large round of layoffs with hundreds of employees already put on a performance improvement plan (PIP),” an official told the publication. “Rest of the sales employees have been put on variable pay structure after Reliance lowered their fixed pay salary,” he added.

Job cuts are part of cost-cutting drive
The job cuts are said to be part of a larger cost-cutting measure over the next few weeks. These may reportedly include reducing the 15,000 workforce in the wholesale division by two-thirds. The company is planning to shut more than half of its 150-odd fulfilment centres that supply groceries and general merchandise to neighbourhood stores, the report adds.

Overlapping roles may get impacted
Reliance’s business-to-business (B2B) format replaces traditional distributors for kirana stores. With the addition of Metro’s permanent workforce of 3,500 people, there has reportedly been an overlap of roles both at the backend and online sales operations. Recently, German retailer Metro AG had announced completion of the sale of its Indian cash and carry business of 31 stores to Reliance Retail for Rs 2,850 crore.

The company is also said to be looking to focus on improving margins and reducing losses. "JioMart leverages the wide network of Reliance Retail grocery stores and well established supply chain infrastructure. It also offers lower pricing compared to other distributors, better service level to onboard kiranas on to the B2B platform and credit for working capital. Its kirana digitisation strategy helps brands reach merchants and better analytics," said the report.

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Andha bhkatha forwarding No Eecession, Fastest growth in world, framed by Fakus Warsaap University...! This will be answer to them. India is under stress but no media is reporting. 2000 DeMo is to curb the currency...nothing else..Read More

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PM Modi in Sydney Live Updates: PM Modi meets prominent Australian business leaders in Sydney, invites investments in India

 

PM Modi meets prominent Australian business leaders in Sydney, invites investments in India

Prime Minister Narendra Modi on Tuesday met business leaders of top Australian companies here and called for enhancing cooperation with the Indian industry in areas such as technology, skilling, and clean energy.

India-Australia trade to double in next 5 years

Australia is currently not among India’s top 10 trade partners, with bilateral trade standing at $27.1 billion last year.That relationship is expected to more than double to around A$60 billion over the next five years, after a trade pact kicked into place last year cutting or eliminating tariffs on a number of goods and services, and gives greater recognition of professional qualifications.While Australia has emerged as a key source of thermal coal for India’s rising electricity needs it’s also hopeful of boosting its exports of premium wines, lentils, almonds and avocados. It’s also looking to sell critical minerals and hydrogen. On the flip side more Indian students and tourists are also expected to look to Australia as a destination.“Our trading relationship really isn’t where it should be and that’s what’s going to be significant out of this visit,” said Lisa Singh, CEO of Australia India Institute. “What we want to see is our trading relationship extend to around the A$100 billion mark.” (Bloomberg)

Only Quad leader to continue with Australia visit after Biden pulls out

PM Modi is the only one of the Quad nations' leaders to continue with his Australian visit plans after President Joe Biden pulled out last week to return to Washington to focus on debt limit talks.

PM Modi wants closer bilateral defense ties

Prime Minister Narendra Modi arrived in Sydney for his second Australian visit as India’s prime minister and told local media he wants closer bilateral defense and security ties as China’s influence in the Indo-Pacific region grows.

It was the most impressive meeting and PM Modi is the most impressive person who understands business which is very encouraging, says Paul Schroder, Chief Executive of AustralianSuper after meeting with him.

Fostering India-Australia collaboration in mining and minerals sector. PM Narendra Modi held a meeting with Georgina Hope Rinehart, Executive Chairman of Hancock Prospecting Group, Roy Hill and S. Kidman & Co, in Sydney
MEA Spokesperson Arindam Bagchi

Showcasing investment potential of India. PM Narendra Modi held a conversation with Paul Schroder, Chief Executive, Australian Super in Sydney wherein he pitched India among the top investment destinations in the world, PM invited AustralianSuper to partner in India’s growth story: MEA Spox

PM Modi also held a conversation with Paul Schroder, Chief Executive, Australian Super in Sydney. He pitching India among the top investment destinations in the world, PM invited Australian Super to partner in India’s growth story.

PM Modi also held a conversation with Paul Schroder, Chief Executive, Australian Super in Sydney. He pitching India among the top investment destinations in the world, PM invited Australian Super to partner in India’s growth story.

PM Narendra Modi interacted with Gina Rinehart, Executive Chairman of Hancock Prospecting, in Sydney.

PM Modi met Dr. Andrew Forrest, Executive Chairman and Founder of Fortescue Metals Group and Fortescue Future Industries, in Sydney. He discussed opportunities for Indian companies to partner with Fortescue in renewable energy sector, particularly under India's Green Hydrogen Mission.

PM Modi kickstarts Sydney visit, meets Australian CEOs.

PM Modi is a global champion on climate and leading voice against climate change, says Andrew Forrest, an Australian philanthropist. He also thanked PM Modi for his humanitarian initiatives that have spread economic growth at the grassroots level.

People from the Indian diaspora board special chartered flight from Melbourne to Sydney to catch a glimpse of Prime Minister Modi at the County event in Sydney

People from the Indian diaspora board special chartered flight from Melbourne to Sydney to catch a glimpse of Prime Minister Modi at the County event in Sydney

PM Modi was referring to an increasingly aggressive China that has been claiming maritime territory across the Indo Pacific region, a vital trade route.

Modi wants 'next level' friendship with Australia

PM Narendra Modi has declared he wants closer defence and security ties with Australia to help secure an ‘open and free’ Indo-Pacific.

PM Modi showcases India as reliable partner of Pacific island nations

Eyeing to bolster India's footprint in the Indo-Pacific, Prime Minister Narendra Modi on Monday showcased New Delhi as a "reliable" partner of the Pacific island nations as he said those considered trustworthy were "not standing by" the region in times of need, in what is being seen as an oblique reference to China.

Prime Minister Narendra Modi will hold a bilateral meeting with Australian PM Anthony Albanese, PM will meet Governor General David Hurley. PM Modi will also meet leading CEOs and also address the Indian community here. Australian PM Anthony Albanese will also host a dinner for PM Modi: Foreign Secretary Vinay Kwatra

'Modi-Modi' chants echo in Sydney as people from the Indian diaspora gather in huge numbers to welcome PM Modi as he lands in Sydney

PM Modi was received by Australian PM Anthony Albanese.

PM Modi is in Australia on the last leg of his three-nation tour

PM Modi lands in Australia

Prime Minister Narendra Modi on Monday met his New Zealand counterpart Chris Hipkins during which they discussed the full range of bilateral ties and ways to expand cooperation in various sectors like trade and commerce, education and sports. Modi arrived here on Sunday on his maiden visit to Papua New Guinea to host a key summit between India and 14 Pacific island countries to boost bilateral ties.

New Zealand PM Chris Hipkins had earlier planned his visit to Papua New Guinea to coincide with both PM Modi and US President Biden’s visit to the Island nation, however, after Biden’s cancellation there were doubts if New Zealand PM would make the trip. In a warm gesture towards India, Hipkins insisted on flying especially to Papua New Guinea to meet PM Modi: Sources tell ANI

PM Modi reaffirms support for capacity-building efforts in Pacific island nations

Prime Minister Narendra Modi on Monday reaffirmed his support for capacity-building efforts in Pacific island nations, as he interacted with alumni of the Indian Technical and Economic Cooperation (ITEC) programme from 14 countries across the region.Modi was here on his maiden visit to Papua New Guinea to host a key summit between India and 14 Pacific island countries to boost bilateral ties. He interacted with ITEC alumni on the sidelines of the Forum for India-Pacific Islands Cooperation (FIPIC) summit.

PM Modi leaves for Australia after concluding Papua New Guinea visit

Prime Minister Narendra Modi on Monday left for Australia on the third and final leg of his three-nation tour after concluding his visit to Papua New Guinea where he co-hosted the first FIPIC summit and met leaders from the Pacific Island nations to boost bilateral ties.Modi is visiting Australia from May 22-24 as a guest of the Australian Government. He will also attend a community event in Sydney to celebrate Australia's dynamic and diverse Indian diaspora, a core part of our multicultural community.

PM Narendra Modi interacted with alumni of Indian Technical and Economic Cooperation (ITEC) from across Pacific Island Countries (PIC). These ITEC alumni, including government officials, professionals and community leaders, are contributing to their societies using the skills gained in India. PM lauded them for keeping India in their hearts and reiterated his support for capacity-building efforts in the region: MEA Spokesperson Arindam Bagchi

PM Narendra Modi interacted with alumni of Indian Technical and Economic Cooperation (ITEC) from across Pacific Island Countries (PIC). These ITEC alumni, including government officials, professionals and community leaders, are contributing to their societies using the skills gained in India. PM lauded them for keeping India in their hearts and reiterated his support for capacity-building efforts in the region: MEA Spokesperson Arindam Bagchi

Prime Minister Narendra Modi emplanes from Port Moresby, Papua New Guinea for Sydney, Australia.

A special gift from a valued friend. President Surangel Whipps, Jr. of Palau honoured PM Narendra Modi with Palauan tool ‘Ebakl’. Ebakl holds important significance in Palauan society as a symbol of leadership and wisdom: MEA Spokesperson Arindam Bagchi

"Had an excellent meeting with the New Zealand PM Chris Hipkins and discussed the full rage of India-New Zealand relations. We talked about how to improve commercial and cultural linkages between our nations," tweets Prime Minister Narendra Modi.

"Had an excellent meeting with the New Zealand PM Chris Hipkins and discussed the full rage of India-New Zealand relations. We talked about how to improve commercial and cultural linkages between our nations," tweets Prime Minister Narendra Modi.

PM Modi conferred with Papua New Guinea's highest civilian award

rime Minister Narendra Modi was on Monday conferred with the Companion of the order of Logohu by Papua New Guinea, the nation's highest civilian award for championing the cause of unity of Pacific Island countries and spearheading the cause of Global South.In a tweet, the Prime Minister's Office said: "Papua New Guinea has conferred the Companion of the Order of Logohu on PM Narendra Nodi. It was presented to him by Papua New Guinea Governor General Sir Bob Dadae."

Big Honour for India. Prime Minister Modi has been conferred the highest honour of Fiji by the PM of Fiji: Companion of the Order of Fiji in recognition of his global leadership. Only a handful of Non-Fijians have received this honour to date.
The Prime Minister's Office

Modi arrived here in Papua New Guinea on Sunday on his maiden visit to the country to host a key summit between India and 14 Pacific island countries to boost bilateral ties.

PM Narendra Modi has been conferred the highest honour of Fiji by the PM of Fiji: Companion of the Order of Fiji in recognition of his global leadership.

PM Narendra Modi has been conferred the highest honour of Fiji by the PM of Fiji: Companion of the Order of Fiji in recognition of his global leadership.

Only a handful of Non-Fijians have received this honour till date.

PM Modi announces 12-step plan to propel India's partnerships with Pacific Island countries

Prime Minister Narendra Modi on Monday announced a 12-step programme to propel India's partnerships with Pacific Island countries.

"It will fulfill the developmental aspirations of the people of the region and consolidate shared vision of a free, open and prosperous Indo- Pacific. fulfil consolidate the shared vision of a free, open and prosperous Indo- Pacific," Ministry of external affairs spokesperson Arindam Bagchi said.

The prime minister made the announcement while co-chairing the 3rd India-Pacific Islands Cooperation (FIPIC) Summit in Papua New Guinea today.

PM Modi underlines importance of free and open Indo-Pacific

Prime Minister Narendra Modi on Monday underlined the importance of a free and open Indo-Pacific for the Pacific island nations and said the Quad is working in this direction.

In an address at the FIPIC (Forum for India-Pacific Islands Cooperation) summit, Modi also emphasised the need for multilateralism and respecting the sovereignty and integrity of all countries.

The summit took place at a time when China is making efforts to enhance its military and diplomatic influence in the region.

"We are victims of global power play...," Papua New Guinea PM says Pacific Islands will rally behind India

Papua New Guinea Prime Minister James Marape on Monday told Prime Minister Narendra Modi that the Pacific Islands nations consider the Indian premier as the leader of the Global South and will rally behind India's leadership at international forums.Highlighting the problems faced by Pacific Islands nations due to the Russia-Ukraine war, Marape said this while addressing the third India-Pacific Islands Cooperation (FIPIC) Summit which was co-chaired by PM Modi.

PM Modi underlines importance of free and open Indo-Pacific

Prime Minister Narendra Modi on Monday underlined the importance of a free and open Indo-Pacific for the Pacific island nations and said the Quad is working in this direction. In an address at the FIPIC (Forum for India-Pacific Islands Cooperation) summit, Modi also emphasised the need for multilateralism and respecting the sovereignty and integrity of all countries.

Had a great meeting with PM Manasseh Sogavare of Solomon Islands on the sidelines of FIPIC Summit.
PM Narendra Modi tweets. FIPIC Summit was held in Papua New Guinea

Fruitful deliberations with PM Fiame Naomi Mata’afa of Samoa on ways to boost bilateral ties: Narendra Modi

Had a great meeting with PM Manasseh Sogavare of Solomon Islands on the sidelines of FIPIC Summit.

Had a great meeting with PM Manasseh Sogavare of Solomon Islands on the sidelines of FIPIC Summit.

At the FIPIC Summit in Papua New Guinea with fellow FIPIC leaders.

At the FIPIC Summit in Papua New Guinea with fellow FIPIC leaders.

PM Narendra Modi & PM James Marape successfully hosted the FIPIC III Summit in Port Moresby. PM Narendra Modi announced a 12-step action plan to propel India’s partnership with Pacific Island Countries. It will fulfill the developmental aspirations of the people of the region and consolidate shared vision of a free, open and prosperous Indo- Pacific: MEA Spokesperson Arindam Bagchi

During Prime Minister Narendra Modi's visit to Papua New Guinea (PNG) on Sunday, a remarkable moment unfolded at the Port Moresby airport, where PNG Prime Minister James Marape humbly touched PM Modi's feet and sought his blessings.PM Modi's visit to the Indo-Pacific country marked the second leg of his three-country tour. As he arrived, the Indian national anthem resonated through the air, prompting both prime ministers to stand still in a show of respect. Additionally, a guard of honour was extended to PM Modi upon his arrival.

Indian cuisine and Millets find a prominent place at the lunch hosted by PM Modi for FIPIC leaders.

Indian cuisine and Millets find a prominent place at the lunch hosted by PM Modi for FIPIC leaders.

PM Modi, his Papua New Guinea counterpart James Marape hold bilateral meeting

Prime Minister Narendra Modi and his Papua New Guinea counterpart held a bilateral on Monday in Port Moresby and discussed cooperation in Commerce, technology, and healthcare as well as in addressing climate change.

"Synergising India-Papua New Guinea relations. PM @narendramodi held a fruitful bilateral meeting with PM James Marape. PM Modi expressed his appreciation to PM Marape for co-hosting the FIPIC III Summit in Port Moresby," the Ministry of External Affairs official Spokesperson Arindam Bagchi wrote on Twitter.

When PM Modi surprised and inspired leaders of Pacific island countries

Climate change is a pressing concern for the Pacific Island countries. So when PM Modi informed them that the jacket he is wearing was made of recycled plastic bottles, they were surprised as well as inspired to see PM Modi’s dedication to climate change mitigation in action.

PM Modi releases Tamil classic 'Thirukkural' in Tok Pisin language of Papua New Guinea

Prime Minister Narendra Modi along with his Papua New Guinea counterpart James Marape on Monday released the Tamil classic 'Thirukkural' in the Tok Pisin language to bring the Indian thought and culture closer to the people of this southwestern Pacific nation.

Modi arrived here on Sunday on his maiden visit to Papua New Guinea, becoming the first Indian prime minister to visit the country. He co-hosted with Marape a key summit between India and 14 Pacific island countries to boost bilateral ties.

Tok Pisin is the official language of Papua New Guinea.

Modi, Blinken meet Pacific Island leaders in Papua New Guinea

India's Prime Minister Narendra Modi held a summit with Pacific Island leaders in Papua New Guinea on Monday, with the U.S. Secretary of State scheduled to also meet the leaders later in the day and sign a defence agreement with Papua New Guinea.In his opening remarks to the summit, PNG Prime Minister James Marape said India was the leader of the Global South, a term used to refer to some low and middle income countries, adding "our people have been left behind".

I am honoured to host Prime Minister Modi for an official visit to Australia, after receiving an extremely warm welcome in India earlier this year. Australia and India share a commitment to a stable, secure and prosperous Indo-Pacific. Together we have an important role to play in supporting this vision. As friends and partners, the relationship between our countries has never been closer. I look forward to celebrating Australia’s vibrant Indian community with Prime Minister Modi in Sydney: Australian PM Anthony Albanese

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Reliance’s JioMart cuts 1,000 jobs, there may be more 'bad news' coming

 After starting a distribution price war last year, Reliance Industries’ online wholesale format JioMart has reportedly laid off more than 1...