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Salary hikes on way for young Indian professionals and executives

Want a decent salary hike? The best place to be right now could be India.

According to insights from Randstad India, corporate salary increments in India are projected to range from 8-11% this year, with junior professionals expected to receive the highest increases of 10-11%.

This shift reflects a growing trend towards skill-based compensation, allowing professionals with specialized expertise to negotiate salaries more flexibly.

It amounts to a big financial boost for India’s growing middle class.

Companies are increasingly focusing on hiring and upskilling freshers and junior-level candidates to meet organizational needs, yielding positive outcomes across industries.

Conversely, senior professionals may see “lower” salary hikes, averaging 8-9%, while medium-level professionals can expect around 9-10% increments.

Why pays the best?

Sectors like internet/e-commerce, manufacturing, and BFSI are likely to offer the highest increments, driven by factors such as value-added models in e-commerce and technological advancements in manufacturing.

Let’s engage with India

Why get closer to India? About 600 million people, more than half India’s population, are under 25 years old; no country has more young people. Remember the economic impact of the western “baby boom”? It is time the west moved closer to India in trade, culture and tourism. What do you think? As the great Indian philosopher Rabindranath Tagore said: “You can’t cross the sea merely by standing and staring at the water.”

Stephen Manallack is a Director of India strategy consultants the EastWest Academy Pty Ltd and compiled the secrets of Indian business success and cross cultural issues while preparing his book for the Indian market, Soft Skills for a Flat World (Tata McGraw-Hill). He has led several trade missions to India and is a Cross-Cultural Trainer.

Why India is such a rare and attractive investment market

There is something about investing in India that most investors are not aware of. INTO INDIA is pleased to bring this important statistic to you.

India is a rare market that has delivered double digit annualised returns in USD terms consistently over a 5, 10, 15 and 20 year time frame. Even the US has not done that, falling just short over the 20 year time horizon.

Why is this happening?

This startling fact was drawn to the attention of INTO INDIA by Anish Mathew, Chief Executive Officer & Chief Investment Officer, Sundaram Asset Management Singapore Pte Ltd.

Anish explains – “There are a couple of key reasons for this in my view. India is a capital scarce country and hence cost of capital has always been high in India.

“This has resulted in corporates being generally disciplined about their capital allocation decisions which in turn has benefited their shareholders over the longer term.

“Secondly, the correlation between economic growth and corporate profits is the highest amongst its EM peers. Studies have shown that over a 20 year period, it is around 0.62.

“As the Indian economy has grown at an average of 6% since 1980, corporate profits have benefited, thereby underpinning the performance of the Indian market over the long term,” he said.

For those who love the stats:

The MSCI INDIA Net Total Return USD Index:

5 years – 11.92%

10 years – 10.06%

15 years – 10.42%

20 years – 11.04%

Makes INTO INDIA wonder – are we missing the India investment opportunity?

CSIRO brilliant programs of collaboration and innovation with India

The CSIRO is showing the way into India – and INTO INDIA congratulates them.

Under the updated India Economic Strategy (IES) released in 2022, CSIRO and India have made a commitment to draw on complementary capabilities and resource to solve shared global challenges.

They have three partnerships:

India-Australia Rapid Innovation and Startup Expansion Accelerator.
India-Australia Critical Minerals Research Partnership.
India-Australia Green Steel Partnership.

The inaugural cohort of the India Australia Rapid Innovation and Startup Expansion (RISE) Accelerator has been announced, with 15 Australian and Indian startups and small- to medium-sized enterprises (SMEs) selected to participate in Round 1 of the Program.

India-Australia Rapid Innovation and Startup Expansion Accelerator

India-Australia Rapid Innovation and Startup Expansion Accelerator (RISE) is an exciting and unique bilateral innovation program that will support Indian and Australian entrepreneurs and SMEs on their commercialisation pathways to launch innovative technology solutions to market that tackle our shared national challenges and priorities – such as the circular economy, the energy transition and food system resilience.

A partnership between CSIRO and Atal Innovation Mission (AIM), and supported by the Australian and Indian Governments.

India-Australia Critical Minerals Research Partnership

The India-Australia Critical Minerals Research Partnership (IACMRP) will work with Indian and Australian researchers, industry and government to deliver a range of projects over a 3.5-year period that aims to unlock commercial benefits of commencing, improving and integrating Indian and Australian critical minerals value chains.

India-Australia Green Steel Partnership

The India-Australia Green Steel Partnership (IAGSP) will deliver a range of research, technology and commercialisation projects over a 3.5-year period that aim to accelerate the decarbonisation of the iron-steel value chain in India and Australia.

These Partnerships have gained momentum and the India-Australia Minerals Scholars Network has been identified as a specific initiative that sits under both the IACMRP and IAGSP partnerships.

India-Australia Minerals Scholars Network

The India-Australia Minerals Scholars Network (the Scholars Network) will focus on enhancing Green Steel and Critical Minerals capabilities and connections. It is intended to be a 3.5-year initiative co-funded by the India-Australia Green Steel Partnership (IAGSP) and the India-Australia Critical Minerals Research Partnership (IACMRP).

INTO INDIA can only say – keep up the great work CSIRO.

Australian banker says “this is India’s century”

This is the best, strongest vote of confidence in India from one of Australia’s leading corporations.

Mark Whelan, Group Executive at ANZ: “The time is very much appropriate to grow here. If you look at the basics of the Indian economy and where its place is in the world, this is India’s century”.

Rufus Pinto, Country Head, India, Australia and New Zealand Banking Group, outlined the rapid recent growth of ANZ in India: “ANZ India started our Institutional Banking operations in 2011. 13 years of existence across three branches today with over 80 bankers supporting the top Financial Institutions; Local Large Corporates and MNC’s working together with our home markets of Australia and New Zealand, and ~30 markets in our global network providing our clients a seamless agile offering.

“ANZ in India today house almost 20% of our global workforce, with our Global Capability Centre in Bengaluru,” he said.

This is change on a grand scale for a leading Aussie company.

Yes, this is India’s century.

Time to get on board?

Did you know Gallipoli played a huge role in Australia-India friendship?

Congratulations to the Australia India Institute for this celebration.

The Australia India Institute has celebrated the untold history of the ANZAC-India relationship formed at Gallipoli in 1915.

Serving alongside the ANZACs for their entire campaign were troops of Britain’s Indian Army – gunners and drivers of two Indian mountain batteries. An Indian infantry brigade and a large Supply and Transport force soon joined them, with over 16,000 Indians serving on Gallipoli.

The Institute hosted the untold story of the Anzac-India friendship, with one of Australia’s most distinguished military social historians Professor Peter Stanley.

He shared the role Indian troops played and the remarkable positive relationship that grew at Gallipoli between Anzacs and Indians.

Assistant Foreign Minister Tim Watts and Indian Consul General Melbourne Dr. Sushil Kumar, were part of this significant event. Indian Veterans who attended.

As part of this celebration of this unrecognised history, Mark Trayling presented the Bahadur painting to the Institute. The Bahadur painting was painted-by-mouth by Mr Ghosh, a resident of the Paraplegic Centre for Armed Forces in Pune, India.

Australia’s sister-city relationships with India and the diaspora here – asleep but huge potential

The growing Indian diaspora in Australia could add real energy to our relations with India – and the sister-city program could be an ideal vehicle.

My desk research suggests that only Brisbane and Ipswich have formal sister-city relations, both with Hyderabad. I also believe Perth has begun searching for an Indian sister-city.

This is pathetically small when compared to our large numbers with Japan, USA, Canada and China. It is time to catch up with India.

Global sister-city relationships, also known as city twinning, started after World War 2 with the ideal of fostering international cooperation, cultural exchange, economic development and disaster preparedness.

Worldwide sister-city relationships right now have almost stalled, yet offer immense potential.

There is a growing need for comprehensive research to assess the effectiveness of existing collaborations, identify challenges, and formulate evidence-based policies that can enhance the outcomes of these bonds.

We should reinvent sister-city relations with India and focus on helping with challenges such as climate change and pandemics, along with development and economic links. The Indian diaspora in Australia is well placed to lead this.

Modern technology makes sister-cities highly attractive via the improved and cheap communication channels. Knowledge exchange is now easier than ever. Economic collaboration and trade between twin cities can go through the roof if the local diaspora is heavily involved.

People to people connection is the sleeping giant of Australia-India relations and it can wake up and energise via the Australian Indian diaspora.

How can we apply digital platforms, data analytics and smart city technologies to create highly effective sister cities with India? We need answers in order for sister cities to be a wise investment of time and money.

Successful sister-city relationships must be characterised by a commitment to mutual understanding, effective communication, and a focus on shared goals.

Anusha Kesarkar Gavankar, a Senior Fellow at the Observer Research Foundation, recently wrote: “Policymakers could focus on enhancing communication channels between sister cities by utilising modern technology, establishing regular forums, and promoting language exchange programmes. Developing dedicated online platforms and mobile applications can facilitate real-time communication, allowing cities to share experiences, best practices, and innovative solutions to shared challenges.

“Furthermore, establishing annual forums or conferences where representatives from sister cities can meet and discuss collaborative opportunities can strengthen ties and foster a sense of community.”

In addition to the economic potential, I would love to see sister-city scholarships for Indian students to study in Australia, as well as cultural events that showcase the rich diversity and indigenous knowledge of each city can strengthen the bond between communities.

Many of our universities now have formal links and presence in Indian cities, so it would make sense for sister city deals to focus on this groundwork.

I would also like our sister city deals with India to include “great challenges” so the two come together for problem solving and common goals. This adds real energy to the relationship.

The Indian diaspora in Australia can provide the real energy to make this work. We already know External Affairs Minister Dr S Jaishankar is a big fan.

Read more from Observer Research Foundation here:

https://www.orfonline.org/expert-speak/the-twin-connection-revitalising-sister-city-relationships

Jasmine Batra and AICC outlining a thoughtful way to enter the India market

Two organisations that advocate a “more thoughtful” way to enter the Indian market came together last week in a wonderful seminar providing some super advice.

First was the Australia India Chamber of Commerce (AICC) which hosted the event and their Chair, Chris Mooney, put the case for the chamber’s National Industry Groups doing well researched and sequenced steps to engage with India. Each group does research for a white paper, builds a community and knowledge group around it and leads to well prepared India missions.

Second was the keynote speaker, Jasmine Batra from Arrow Digital, who have a program called “The Big Leap” taking clients through a 12 month program of understanding and entering India. INTO INDIA has long advocated that slower market entry produces superior long term results – a strong alternative to the traditional Aussie hasty transactional approach. We love “The Big Leap” concept.

There are three major factors that make India today a very special market – first, the young population with an average age of 28; second, the rise of the tier 2 and 3 cities, including their specialisation, three, India’s global leadership in rolling out digital infrastructure that is transforming business and society.

Jasmine talked about importance of Food, Festivals and Family when thinking about India. “Family” includes what she called “the crazy rich” such as Tata, Ambani and many more. But it also goes right down to small community business families. Your journey will interact at all levels at some time.

Reducing risk is vital. There are three steps you can take. First, understand the cultural context. Second, do market research and find local partners. Third, network community and do due diligence.

In conclusion Jasmine Batra said you should get over there, get around and get partners. By research and regular visits, your more thoughtful engagement with India will produce results.

La Trobe University very kindly provided the venue.

CONTACT AICC

About Us

Contact Jasmine Batra

https://arrowdigital.com.au/about-us

9 Rules for Thriving in India

Rules compiled from my personal experience – and with some reference to “Rules for Living” by the School of Life…

1. ACCEPTING IMPERFECTION

You will never be happy in India if you seek perfection. Hang on…maybe seeking perfection anywhere is a flawed idea. Is it possible we humans are inherently flawed and broken? Is perfection beyond us? Even the west with its “belief” in science has not stamped out stupidity and pain. Life will always include suffering – this is a big Indian idea. Accepting this makes everything so much better.

2. VULNERABILITY & COMPASSION MAKE LIFE SHINE

This follows from “Accepting Imperfection”. We are all in the same boat, and recognising that we all share weaknesses, fears and mistakes can make us feel generous towards others who are also imperfect – and feel compassion for ourselves. I learnt in India that sharing your vulnerability, talking about it to people you have just met, can lead to amazing connections.

3. ALWAYS BE KIND

To be kind to others is a choice. Being kind is a form of respect in action. In India many people accept that what happen to us is mostly out of our control, so stop struggling and find a way to live. It also acknowledges that terrible things can happen anywhere, anytime to anyone – so we can be scared or even resentful, or we can just be kind instead. It feels good.

4. HAVE A GOOD LAUGH

I seem to smile and laugh more when in India. There is a kind of blanket acceptance that life is weird, and humans are pretty funny, so have a good laugh. Accepting all of this with good grace goes a long way to easing our frustrations at our own stupidity. Back home we often see acceptance as just doing nothing – but in India acceptance becomes the first step to boldly trying your best, knowing that any outcomes will not be perfect. Why would you expect a planet of 7.8 billion people just as foolish as you to run smoothly, why expect it to be better, why look for “it SHOULD be better”? Just have a chuckle.

5. WE ARE GOOD ENOUGH – AND NOT

I dropped my obsession with “perfection” on my first arrival in India. Sure, the luggage system looked a bit messy, but they never seemed to lose my luggage. I found that the alternative to perfection is not failure, This small thing (luggage) can lead to a greater idea – rough and flawed as we all are, we can make our peace with the idea that we are, each of us, ‘good enough’. We in the west are way too quick to call out “failure”, especially in ourselves. But being ordinary or not measuring up to someone’s standards is not failure – it is just how things are.

6. FINDING WHY ROMANTICISM IS A WASTE OF SPACE

I have learnt a lot from young Indians here in Melbourne and in India. In India there is much to learn about the gradual growth of friendship into love, as a more stable approach than “falling head over heels in love”. But even that is not perfect. I learn that love grows out of friendship, and that compatibility grows out of love – while in the west we see it as a prerequisite for love. But I also learned that having said all of this, no one is ever wholly ‘right’ nor wholly wrong. We are just learners, or as Gandhi said, seekers.

7. ACCEPTANCE IS BETTER THAN CONSTANT STRUGGLE

When the great Indian philosopher Krishnamurti was on his death bed, he was asked how he maintained such a composted and happy mind. His reply was a teaching for me. He said: “I don’t mind what happens”. It made me realise that almost all of the time, with whatever is happening, my mind made up stories or created ideas – most of which were not helpful because they led to struggle or resistance to what was happening. Things might be bad, but we can still be cheerful. Don’t mind what happens.

8. CLEARLY SEE WHAT IS HAPPENING

Despite our seeming importance, we are not at the centre of the universe – probably not at the centre of anything. Seeing ourselves at the centre means we do not really see as it is, we see as we are. Back to the baggage at the first airport I visited in India – I did not see what was happening, I saw it as I was – impatient, not trusting, agitated and emotional. Putting myself at the centre, when I meet people, I meet them where I am at. With wisdom from India (“I am not the centre”) – I can meet people where they are at. It is a clearer vision.

9, YOU WILL FORGET ALL THIS

I can forget anything – and probably you can too. Our minds might be amazing but they also just – forget stuff. So, any big ideas need to be revisited, again and again, almost so they become a habit. Even if only one of these ideas works for you, go over it and keep it for your next visit to India.

What’s in a name? Is it “India” or “Bharat”?

What’s in a name? India or Bharat?

Many commentators believe Indian PM Modi will bring on a change of India’s name to Bharat. INTO INDIA thinks this most unlikely.

Modi will win either way, vote or no.

PM Modi will, in a very Indian way, continue to use the two names side by side.

You see, things do not have to be resolved in India – and both sides can have their day. Ambiguity and paradox are part of Indian culture.

“Bharat” is the Hindu name for the country, so PM Modi appeals to Hindus every time he uses it – such as on menus and nameplates at the recent G20 meeting he hosted in New Delhi last September.

Many attendees thought this a signal that a name change was on the cards for India. Wrong. Just by using both, he continues to create distance between the nation and its colonial past.

Bharat is already a name recognised in India’s constitution.

With India voting in a general election in March and April, we will no doubt see more banners displaying Bharat.

PM Modi knows that getting a name change done is a tough call, requiring a constitutional amendment with a two-thirds majority in both houses of parliament.

So, when it comes to a name, two is better than one. India and Bharat.

Australia risking major reputational damage over education visas mess

Something weird is happening in denying visas for education study in Australia.

Students from India, Pakistan and Nepal are most impacted by the visa denials.

“The unequivocal message this sends… is both unfair and unbecoming”

The Independent Tertiary Education Council Australia (ITECA) is a membership-based peak body bringing together independent providers in the higher education, vocational education and training sectors. It has made some comments which are sensible and powerful.

“This situation not only undermines the aspirations of Indian nationals with the genuine intention to pursue educational opportunities in Australia, but also casts a shadow over the nation’s reputation as a welcoming and inclusive study destination,” ITECA chief executive, Troy R Williams, said.

“The unequivocal message this sends — that Indian students are somehow less desirable or unwelcome in the eyes of the Australian government — is both unfair and unbecoming of Australia’s long-standing values of diversity and inclusivity.”

ITECA – which has previously voiced concern about the migration strategy – also said that the government’s actions “seem to be at odds with broader governmental efforts to strengthen economic and security relationships with India”.