Slowing NRI deposits shows new investment trends
According to economists, the slower growth rate in NRI deposits reflects evolving migration patterns, global economic uncertainties and a growing preference for investments outside traditional bank deposits.
'The slowdown in the growth of NRI deposits in Kerala shows that more people are looking for long-term investments in foreign countries. These include countries like Australia, the US, Canada, European countries and the Gulf,' said S Irudaya Rajan, former faculty at the Centre for Development Studies and Chairman of the International Institute for Migration and Development.
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Business Standard
26 minutes ago
- Business Standard
FPIs pull out Rs 5,524 cr in July on US-India trade jitters, mixed earnings
After three months of fund infusion, foreign investors turned net sellers with withdrawal of Rs 5,524 crore so far in July, due to ongoing trade tensions between the US and India and mixed corporate results. With this, the total outflow has reached Rs 83,245 crore so far in 2025, data with the depositories showed. Looking ahead, the trajectory of FPI flows will hinge on developments in the US-India trade negotiations and corporate earnings, Himanshu Srivastava, Associate Director - Manager Research, Morningstar Investment Research India, said. A resolution of the trade disputes and earnings recovery could potentially restore investor confidence and attract FPIs back to Indian markets, he added. Going by the depositories data, Foreign Portfolio Investors (FPIs) withdrew a net sum of Rs 5,524 crore from equities this month (till July 18). This came following a net investment of Rs 14,590 crore in June, Rs 19,860 crore in May and Rs 4,223 crore in April. Prior to this, FPIs had pulled out Rs 3,973 crore in March, Rs 34,574 crore in February, and a substantial Rs 78,027 crore in January. FPIs exhibited a notable shift in sentiment this month, reversing their previous bullish stance. This behaviour can be attributed to a combination of factors. "While elevated market valuations prompted FPIs to reassess the attractiveness of Indian equities, ongoing trade tensions, especially between the US and India, and concerns over US interest rate policies contributed to a cautious investment outlook. Additionally, mixed corporate earnings raised doubts about the sustainability of corporate profitability," Srivastava said. Vaqarjaved Khan, Senior Fundamental Analyst, Angel One, also said that global markets and macro developments along with the result season in India led to the outflow. On the other hand, FPIs invested Rs 1,850 crore in the debt general limit and Rs 1,050 crore in the debt voluntary retention route during the period under review.
Economic Times
26 minutes ago
- Economic Times
Gold may trade in tight range as investors eye US macro data, Fed Chair speech: Analysts
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Time of India
26 minutes ago
- Time of India
India's auto sector is seeing a huge churn at the top levels
New Delhi: As the automotive sector in India undergoes rapid transformation driven by new entrants, emerging business models, and the shift to electric and digital technologies, senior-level hiring activity has surged over the past few years. New-age players and diversification efforts by legacy firms are fuelling a wave of CXO-level transitions, often drawing leadership talent from established OEMs and suppliers. Industry experts observe that the average tenure of top executives has sharply declined from 6-8 years earlier to just 2-3 years today, reflecting growing investor impatience, evolving business priorities, and rising professional mobility. At the same time, CXO compensation has nearly doubled in the past five years, making the auto sector increasingly attractive to senior professionals. ETAuto's analysis reveals that close to 50 top management movements were recorded in just the last six months, underscoring the intensity of churn at the top. These include promotions within existing organisations clearly reflecting the new trend in rewarding top performers. CXO-level churn and a growing emphasis on local leadership have been visible at global players like Stellantis (Jeep, Citroen), Skoda Auto Volkswagen India, and BMW Group India. 'Over the past couple of years, global OEMs have faced mounting challenges in their home markets, which is a double blow of slowing demand and increasingly complex, costly supply chains. In response, many are recalling expatriate leaders and handing over India operations to local executives. While high expat costs are one factor, the bigger issue is their struggle to drive demand in India,' said Pankaj Dutt , Managing Partner (India and Global Co-Lead) at the European-headquartered executive search firm Alexander Hughes. India's largest two-wheeler maker Hero MotoCorp saw a wave of top-level exits this year, with its CEO and Chief Business Officer quitting in February, followed by the Chief Information & Digital Officer and HR head. In contrast, Mahindra & Mahindra, riding strong growth, announced key leadership changes in April to bolster its next phase of expansion. Companies like Uno Minda, TVS Motor, Eicher Motors, Daimler Truck and Nissan India also elevated leaders to top roles. At Maruti Suzuki, MD & CEO received a three-year extension starting April 2025. In a notable shift, Sunil Kakkar was appointed as the company's first Indian whole-time director. EVs and IPOs Beyond this, experts suggest the ongoing EV transition is a major driver of leadership churn in the auto sector. Neelesh Gupta , Partner at Deloitte India, noted that disruption from new entrants has heightened volatility in the talent market. EV-specific leadership roles now command an 18-20% premium over ICE roles, driven by a mix of high attrition (around 7%), talent scarcity, and the shift towards role-based pay over internal parity. 'To retain top talent, firms are increasingly offering long-term wealth creation plans tied to sharp business outcomes, thereby creating a win-win,' said Gupta. Meanwhile, Dutt pointed out that the EV sector still faces a critical talent gap in software, electronics, and product design. 'Engineers are often hired for ADAS roles based on coding skills and not domain expertise, thereby leading to post-launch product issues,' he added. Amol Gangaramany, Partner- Automotive at ABC Consultants, said firms preparing for IPOs are also proactively reshaping their CXO teams to align with future growth, even if the CEO remains unchanged. Ola Electric and Ather Energy are among the few EV players to have filed for IPOs, even as Greaves Cotton has got the SEBI nod. Ola is also one of the companies which has seen notable top-level churn over the past few years. According to ETPrime, June alone saw multiple senior exits-Chief Business Officer Nitin Golani left within three weeks, Head of Sales Nikhil Upadhye quit in a week, while legal heads Rohit Kumar and Marisha Shukla are set to exit by month-end. 'Musical chairs' cycle Dutt said the auto industry has long been stuck in a cycle of 'musical chairs' when it comes to talent, especially in brand, sales, and distribution functions where companies often want to hire from outside the sector due to a persistent skill gap. 'Despite some openness to cross-industry hiring, talent still circulates within the same pool,' he said. 'Unlike other sectors where marketing drives product development, India's auto sector builds products first and expects marketing to create demand later. This discourages experienced marketers from other industries.' Dutt added that this structural mismatch, similar to what was seen in telecom, has made auto unattractive to external talent, particularly among global OEMs. He also highlighted that despite India's push for homegrown players, most domestic OEMs still depend on foreign platforms and powertrains, showing a continued lag in indigenous vehicle engineering. Below is the list of a few CXO announcements during the Jan-Jun 2025 period. NamePrevious DesignationLatest AssignmentAnjani KumarCTO, Tata AIG General Insurance CDIO, Ather EnergyAnurag MehrotraVP- International Business & Strategy, Tata MotorsMD, JSW MG MotorGaurav GuptaCGO, JSW MG MotorPresident- Domestic Operations, TVS MotorGaurav JhalaHead of HR- Engg, Tata MotorsVP & CHRO, JSW GreentechHardeep Singh BrarSenior VP & National Head- Sales & Marketing, KiaPresident & CEO, BMW IndiaNidhi KaisthaRegional Sales & Pre-Owned Cars Manager, Porsche IndiaHead- India, Automobili LamborghiniNiranjan KumarGeneral Manager, Mahindra GroupVP & COO, Tata AutoComp GroupParag SatpurePresident & Senior VP, Bridgestone Mobility SolutionsMD & Group CEO, Greaves CottonRahul DesaiCEO- Stampings, Magnets & Composite, CIE AutomotiveCEO, Pinnacle IndustriesRajeev Kumar SinhaCMO, CiplaCMO, Apollo TyresRishi LuharukaCFO, Gabriel IndiaGroup CFO, Force MotorsSanjay BohraGroup CFO, Force MotorsCCO, Eka MobilityVikas SinghMMTC-PAMP IndiaMD, Greaves Electric Mobility Component makers According to Gangaramany, the auto component industry which is driven by a mix of multinational players and Indian promoter-led firms is seeing a shift due to a couple of factors. In the latter, the first-generation entrepreneurs with global ambitions are increasingly hiring seasoned professionals, particularly Chief Marketing Officers, to scale internationally. At the same time, second-generation leaders are taking on strategic roles in family-run businesses, pushing for professionalisation and modernisation as they prepare for board-level responsibilities. This transition is being accelerated by rising private equity (PE) interest. With fresh capital and ambitious leadership, many promoters are targeting aggressive growth, often aiming to double business within 3–5 years. For instance, Bain Capital recently made a strategic growth investment in Dhoot Transmission Group. In another major move, Carlyle entered the space by creating a platform through twin acquisitions, securing controlling stakes in Highway Industries and Roop Automotives . Where does the opportunity lie? Sales, marketing, and brand roles continue to witness high demand, with churn intensifying during industry slowdowns, said Gangaramany. Gupta pointed out that key leadership roles in demand include Chief Digital Officer, Chief Strategy and Transformation Officer, Head of Digital, Chief Sustainability and ESG Officer, Head of Policy, Chief of Product, and Chief of Design, with the latter two especially sought after by Indian OEMs aiming to stand out in a competitive, tech-led market. Hiring momentum is also strong in digital transformation, R&D, product development, program management, and design. However, senior manufacturing roles remain largely insulated, typically filled through internal movement. Gangaramany noted a growing trend of cross-sector hiring at the second-tier level, particularly for CHRO roles, although reverse movement from auto into other sectors is still rare.
