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Time of India
an hour ago
- Time of India
Retail giant Albertsons plans to hire 1,000 people for its Bengaluru tech hub
The USD 80 billion Albertsons Companies—one of the largest food and drug retailers in the US—set up a digital hub in Bengaluru, leveraging the city's tech talent pool. The company plans to hire nearly 1,000 employees in the next 18 months, up from the current 300. Embracing its move as a late mover, Albertsons is turning timing into a strategic advantage. The retail giant is reimagining the future of digital retail from its Bengaluru global capability centre (GCC) to build smarter and more agile solutions. "Our goal is not to catch up; it's about figuring out how to build for the future," said Anuj Dhanda, EVP - chief information and transformation officer at Albertsons Companies. "There's a certain late-mover advantage—we're now able to design solutions with AI and data science at the core, rather than as an afterthought. Many capabilities that once required heavy coding can now be built with little to no code, dramatically increasing speed and agility. That's why we're so excited about our presence in Bengaluru and the incredible talent here driving this transformation." Albertsons has over 2,200 stores, and some of its banners include Safeway, Vons, Acme, Tom Thumb, Randalls, United Supermarkets, Haggen, Carrs, Kings Food Markets, and Balducci's Food Lover's Market. Dhanda said the US retail giant is aiming for a technology refresh. "We need a technology 2.0, with significant shifts underway—that's where Bengaluru and the GCC come in. For success, we realised we need much greater velocity and agility, and to build far more of our own IP than we do today. Our goal is to change the way we work in technology. We've integrated product, data, and full-stack engineers into fully functional, global teams to enable seamless collaboration. We're applying AI and automation across the entire tech stack—not just in software development, but from requirements gathering to infrastructure and observability." Many GCCs are increasingly relocating tech roles to India, signalling growing confidence in shifting solution ownership. "My intent is to have several of my direct reports to be based here. If we consider the leadership group—around 17 to 18 vice-presidents and above—the goal is for at least a third of them to be in Bengaluru within the next 18 months," Dhanda said. He also said that the insourcing mix will shift dramatically, reducing reliance on external IT providers. "We developed numerous digital systems, including pharmacy and health capabilities, and upgraded our financial systems. Going forward, our investment will move from foundational upgrades to development-driven initiatives. While we currently depend heavily on third parties like TCS, Cognizant, and Sapient for resources, we plan to bring much of that work inhouse, empowering our own associates. Our focus is to reduce third-party dependence and build stronger internal teams." Lalit Ahuja, founder of full-stack GCC firm ANSR, said Albertsons is leveraging the late-mover advantage—not late to the party, but arriving at the perfect time to capitalise on a mature market. For retailers, the landscape is defined by thin margins, highly perishable inventory, and intense tech-driven competition—with e-commerce playing an increasingly vital role. "Some companies struggle because tech centres are set up suboptimally. But there are firms which are set up with sharper tech differentiation. We're witnessing significant maturity in the types of roles being introduced, driving modernisation of its tech stack. This includes mainstream adoption of new technologies and a stronger emphasis on product and functional ownership. And AI has become the greatest accelerator of efficiency," Ahuja said. Last year, Accenture picked up a significant minority stake in the Bengaluru and US-based ANSR, which set up over 170 GCCs in India.
Hans India
an hour ago
- Hans India
Pharma sector set for 11% YoY growth in Q1FY26 driven by global momentum: Report
Pharmaceutical companies in India are projected to deliver an 11% year-on-year (YoY) growth in both sales and EBITDA for the first quarter of FY26, according to a recent report by Kotak Institutional Equities. The growth is expected to be driven by sustained momentum across key international markets, despite slightly muted domestic demand in April and March. The hospital segment is also expected to shine with a robust 17% YoY increase in sales and EBITDA, attributed to increased patient footfalls, capacity expansions through new bed additions, and a modest improvement in Average Revenue Per Occupied Bed (ARPOB). Diagnostics players are forecast to see a 14% growth in sales, fueled by higher volumes, an improved service mix, and mergers and acquisitions activity. The Indian pharmaceutical market was valued at USD 50 billion in FY24, with domestic consumption contributing USD 23.5 billion and exports accounting for USD 26.5 billion. India continues to hold its place as the world's third-largest pharmaceutical producer by volume and 14th by value. The industry's portfolio spans generic and bulk drugs, OTC products, vaccines, biosimilars, and biologics. As per the National Accounts Statistics 2024, published by the Ministry of Statistics and Programme Implementation, the pharmaceutical sector's total output stood at ₹4.56 lakh crore for FY23 at constant prices, with ₹1.75 lakh crore as value added. With over 9.25 lakh people employed in the sector during FY23, the Indian government has been actively promoting pharmaceutical innovation. The Department of Pharmaceuticals has set up seven National Institutes of Pharmaceutical Education and Research (NIPERs) to foster advanced research and academic excellence. To accelerate innovation, the department has also rolled out the National Policy on R&D and Innovation in the Pharma-MedTech Sector, aimed at nurturing an entrepreneurial ecosystem and positioning India as a global leader in drug discovery and medical device development.
Hans India
an hour ago
- Hans India
5 key triggers for Sensex, Nifty next week; India-US trade deal, Q1 earnings, FPI flows
The Indian stock market is poised for a volatile week as multiple global and domestic cues unfold simultaneously. The top factors influencing investor sentiment include the anticipated India-US trade deal, the kick-off of Q1 FY26 earnings, foreign capital flows, monsoon progress, and the release of the US Federal Reserve's June meeting minutes. During the week ended July 4, both the Nifty 50 and Sensex slipped 0.70%, snapping their two-week winning streak. Profit-booking, foreign capital outflows, and uncertainty over trade negotiations between India and the US weighed on the indices. According to Ajit Mishra, SVP at Religare Broking, "Investors are cautious ahead of global trade deadlines and earnings. A potential interim trade agreement between India and the US may limit downside risks, but clear outcomes are crucial." While large-cap indices corrected, mid- and small-cap segments continued their upward march. The Nifty Midcap 100 gained 0.5%, and the Smallcap 100 rose 0.3%, showing resilience amid broader volatility. Here are 5 major triggers for the markets in the coming week: 1. India-US Trade Deal The unresolved trade pact between India and the US remains a top market trigger. With US President Donald Trump's July 9 deadline approaching, investor anxiety is growing. Although Indian negotiators returned from Washington last week, Commerce Minister Piyush Goyal reiterated that India will not commit to any deal unless it serves the national interest. A breakthrough could boost export-heavy sectors such as IT, pharma, and auto components. In contrast, any deadlock may dent near-term sentiment. 2. Q1 FY26 Earnings Season India Inc's Q1 results will start rolling in this week. IT bellwether TCS and Tata Elxsi will release their earnings on July 10, followed by DMart on July 11. Investors will watch closely for growth guidance, margin trends, and demand commentary, which will likely set the tone for sectoral momentum. 3. Monsoon Progress India's southwest monsoon has shown healthy progress, with cumulative June rainfall exceeding the long-period average by nearly 9%. Improved monsoon activity is aiding kharif crop sowing, which is up by 11% year-on-year. With the IMD forecasting active rainfall over the next week, monsoon trends will continue to be a crucial macroeconomic monitor for inflation and rural demand. 4. Foreign Portfolio Investment (FPI) Trends So far in July, FPIs have pulled out ₹5,773 crore from Indian equities amid uncertainty and valuation concerns. Experts suggest that clarity on the trade deal and robust Q1 earnings could reverse this trend. According to VK Vijayakumar of Geojit Financial, "A breakthrough in India-US trade talks and strong corporate earnings could revive FPI interest." 5. US Fed Minutes Global markets will keep a close watch on the minutes of the US Federal Reserve's June 17–18 meeting. These insights will offer clues on the Fed's stance regarding inflation and potential interest rate cuts. Though a September rate cut is still expected, recent jobs data hint at a resilient labor market, possibly delaying policy easing. Fed Chair Jerome Powell has stated that the inflationary impact of tariffs may start appearing in the coming months, suggesting a cautious Fed in the near term.
