www.reuters.com Open in urlscan Pro
2600:9000:235a:f000:15:5a3e:9d40:93a1  Public Scan

Form analysis
0 forms found in the DOM

Text Content

Skip to main content

Exclusive news, data and analytics for financial market professionalsLearn more
aboutRefinitiv

Reuters home
 * WorldChevron
   Browse World
    * Africa
    * Americas
    * Asia Pacific
    * China
    * Europe
    * India
    * Israel and Hamas at War
   
    * Japan
    * Middle East
    * Ukraine and Russia at War
    * United Kingdom
    * United States
    * US Elections
    * Reuters Next
   
   Latest in World
    * Road collapse in southern China kills 36, reports state media
      
      A collapse of an expressway section in China's Guangdong province caused
      vehicles to plunge and killed 36 people while injuring another 30, state
      media reported on Thursday, as millions in the country travel for the May
      Day holiday break.
      
      3 min ago
    * Solomon Islands picks China-friendly Manele as new prime minister
      44 min ago
      
    * Taiwan says may be hard to attend WHO assembly, Blinken offers support
      an hour ago
      
    * Kenya flood toll rises to 181 as homes and roads are destroyed
      4:04 AM GMT+2
      article with video

 * BusinessChevron
   Browse Business
    * Aerospace & Defense
    * Autos & Transportation
    * Davos
    * Energy
    * Environment
    * Finance
    * Healthcare & Pharmaceuticals
   
    * Media & Telecom
    * Retail & Consumer
    * Future of Health
    * Future of Money
    * Take Five
    * World at Work
   
   Latest in Business
    * Asia stocks rise as Fed tamps down hike fears; yen leaps
      6 min ago
      
    * Exclusive: Tesla retreats from next-generation ‘gigacasting’ manufacturing
      process
      an hour ago
      article with gallery
    * Yen surges on suspected intervention by Japanese authorities
      an hour ago
      
    * Deflation hits the shelves at Australia's Woolworths; shares sink
      an hour ago
      

 * MarketsChevron
   Browse Markets
    * Asian Markets
    * Carbon Markets
    * Commodities
    * Currencies
    * Deals
    * Emerging Markets
    * ETFs
    * European Markets
   
    * Funds
    * Global Market Data
    * Rates & Bonds
    * Stocks
    * U.S. Markets
    * Wealth
    * Macro Matters
   
   Latest in Markets
    * Asia stocks rise as Fed tamps down hike fears; yen leaps
      9 min ago
      
    * Aussie lender NAB reports lower profit but hints bank margin squeeze is
      easing
      3:31 AM GMT+2
      
    * TSX ends higher as investors eye path to Fed rate cuts
      May 1, 2024
      article with gallery
    * Stocks, dollar decline after Fed holds rates steady
      May 1, 2024
      article with gallery

 * SustainabilityChevron
   Browse Sustainability
    * Boards, Policy & Regulation
    * Climate & Energy
    * Land Use & Biodiversity
    * Society & Equity
    * Sustainable Finance & Reporting
    * The Switch
    * Reuters Impact
   
   Latest in Sustainability
    * Canadian Airbus A220 workers approve deal, ending lockout fears
      3:13 AM GMT+2
      
    * Bayer's Monsanto wins reversal of $185 million PCBs verdict in Washington
      court
      2:50 AM GMT+2
      
    * US appeals court says kids' climate lawsuit must be dismissed
      2:33 AM GMT+2
      
    * J&J advances $6.48 billion settlement of talc cancer lawsuits
      1:55 AM GMT+2
      

 * LegalChevron
   Browse Legal
    * Government
    * Legal Industry
    * Litigation
    * Transactional
    * US Supreme Court
   
   Latest in Legal
    * US oil and gas production rebounds after winter storm
      2:59 AM GMT+2
      article with gallery
    * Bayer's Monsanto wins reversal of $185 million PCBs verdict in Washington
      court
      2:50 AM GMT+2
      
    * US judge blocks some North Carolina restrictions on abortion pill
      2:49 AM GMT+2
      article with gallery
    * Arizona Senate repeals 1864 abortion ban, governor seen signing quickly
      2:48 AM GMT+2
      article with gallery

 * BreakingviewsChevron
   Browse Breakingviews
    * Breakingviews Predictions
   
   Latest in Breakingviews
    * Clash of the mining titans will get more bruising: podcast
      20 min ago
      article with podcast
    * Hurricanes threaten to stir perfect economic storm
      May 1, 2024
      
    * Amazon is the everything-plus-AI store
      May 1, 2024
      
    * Musk’s China jaunt keeps underwhelming status quo
      May 1, 2024
      article with video

 * TechnologyChevron
   Browse Technology
    * Cybersecurity
    * Space
    * Disrupted
    * Reuters Momentum
   
   Latest in Technology
    * Nvidia supplier SK Hynix says HBM chips almost sold out for 2025
      16 min ago
      
    * Exclusive: Tesla retreats from next-generation ‘gigacasting’ manufacturing
      process
      an hour ago
      article with gallery
    * AMD, Super Micro tumble as earnings fall short
      1:18 AM GMT+2
      article with gallery
    * Qualcomm forecast beats estimates as AI drives chip sales in China
      12:34 AM GMT+2
      

 * Investigations
 * MoreChevron
   Sports
    * Olympics
    * Athletics
    * Baseball
    * Basketball
    * Cricket
    * Cycling
    * Formula 1
    * Golf
    * NFL
    * NHL
    * Soccer
    * Tennis
   
   Science
   Lifestyle
   Graphics
   Pictures
   Podcasts
   Fact Check
   Video
   Sponsored Content
    * Reuters Plus
    * Coupons
   
   Trending Stories
    * Worldcategory
      Violence flares at UCLA as police end protests at New York's Columbia
      article with video
    * Businesscategory
      Tesla retreats from next-generation ‘gigacasting’ manufacturing process
      article with gallery
    * Macro Matterscategory
      Fed leaves rates unchanged, flags 'lack of further progress' on inflation
      article with gallery
    * Worldcategory
      Russia breached global chemical weapons ban in Ukraine war, US says
      

My ViewMy ViewChevron
Search
Sign InRegister
Menu
 * Sustainable Finance & Reporting
 * Worker RightsChevron


TECH COMPANIES PLUG INTO INDIA'S SMALLER CITIES FOR TALENT

By Sai Ishwarbharath B and Haripriya Suresh
April 25, 202411:24 AM GMT+2Updated 7 days ago
Save
Text
 * Small Text
 * Medium Text
 * Large Text

Share
 * Twitter
 * Facebook
 * Linkedin
 * Email
 * Link

Maximize
Item 1 of 5 An employee arrives for work at an HCLTech office on the outskirts
of Lucknow, India, March 20, 2024. REUTERS/Pawan Kumar
[1/5]An employee arrives for work at an HCLTech office on the outskirts of
Lucknow, India, March 20, 2024. REUTERS/Pawan Kumar Purchase Licensing RightsNew
Tab, opens new tab
ChevronChevron
 * Companies

 * Company
   Cognizant Technology Solutions Corp
   Follow
 * Company
   Genpact Ltd
   Follow
 * Company
   Happiest Minds Technologies Ltd
   Follow

Show more companies
Chevron
MADURAI/BENGALURU, April 25 (Reuters) - Indian engineer B. Ramachandran now
prefers living in the smaller cities than the major tech hubs of Bengaluru and
Chennai.
After the pandemic, the 47-year-old moved to Madurai, a temple town in the
southern state of Tamil Nadu. He has no plans to leave his hometown, saying the
chance to live with his ageing mother while working for New York-based
technology services firm Genpact (G.N)New Tab, opens new tab is a "blessing".
Advertisement · Scroll to continue

IT companies are now expanding into smaller cities, in part to tap on workers
like Ramachandran, and to capitalise on cheaper land costs, rents and wages.
Some are already finding it easier to hire staff in tier 2 cities, in contrast
to before the pandemic when workers largely went from smaller cities into the
country's major IT hubs for jobs.
"The HR and I used to drive down to Bengaluru and Chennai to interview
experienced talent and convince them to move to Madurai," said Selvaganesh M.P,
founder of IT firm SMI that was bought by mid-cap IT company Happiest Minds
(HAPP.NS)New Tab, opens new tab in 2023. "This is no longer needed as the
equation has changed after COVID-19." U.S.-based Cognizant (CTSH.O)New Tab,
opens new tab and India's Tata Consultancy Services (TCS.NS)New Tab, opens new
tab, Infosys (INFY.NS)New Tab, opens new tab, HCLTech (HCLT.NS)New Tab, opens
new tab and Wipro (WIPR.NS)New Tab, opens new tab, are moving into smaller
cities due to cost efficiency, government incentives and availability of talent.
Advertisement · Scroll to continue


Reuters Graphics Reuters Graphics
HCLTech has two offices in Madurai with 6,700 employees. It had originally aimed
for 5,000 staff by 2025, which it exceeded, as a result of pandemic-induced
demand. It also expanded its workforce in tier 2 locations such as Nagpur in
Maharashtra state, Vijayawada in southern Andhra Pradesh state and Lucknow in
the northern state of Uttar Pradesh since the pandemic.
Industry watchers say the trend to smaller cities helps companies reduce
attrition and cut costs at a time when the $254 billion Indian IT sector is
grappling with weak sales growth amid global economic uncertainty.

Employee salaries are 25%-30% lower and real estate rentals are around 50%
cheaper than in established tech hubs, according to a report by Deloitte and
industry body Nasscom.


BEYOND METROPOLITAN CITIES

Cognizant is trying to exit a major Chennai facility as part of its plan to cut
real estate costs by $100 million by 2025, even as it opened an office in
Bhubaneswar, in eastern Odisha state.
Tech Mahindra (TEML.NS)New Tab, opens new tab is running an initiative called
"Nxt.Towns" to win talent in tier 2 cities, while Wipro is encouraging employees
to relocate to its offices in smaller cities through "Project Lavender".
Advertisement · Scroll to continue

Wipro is offering employees twice the usual referral bonus for directing people
to vacancies in Kochi in southwestern Kerala state, and Visakhapatnam city in
Andhra Pradesh, according to emails seen by Reuters. It declined comment
specifically on this development.
However, Wipro said it was making continuous investments in tier 2 and tier 3
cities and had set up offices in multiple emerging cities such as Ahmedabad,
Bhubaneshwar and Guwahati to tap into talent and scale operations.

Cognizant did not comment, citing a silent period ahead of its quarterly
results. Tata Consultancy and Infosys did not respond to emails seeking comment.
The trend by firms to decentralise has hurt demand for office space. The tech
sector's share in India's top seven markets fell to 20.9% in 2023, its lowest in
more than a decade, JLL data showed.
"The IT services sector has really struggled to get people back in offices,"
said Anshul Jain, India and Southeast Asia managing director at Cushman &
Wakefield.
The change also comes as state governments offer stamp duty concessions, land
benefits, subsidised power and other incentives to bring jobs to smaller cities.
And as jobs shift to these cities, so will consumption.
"What we're seeing is improving lifestyles in secondary cities, whether it's
retail, entertainment, F&B services," Jain said, adding that tech hiring
"certainly creates a spur in the economy".
"So, the IT industry's multiplier effects that we've seen in tier 1 could be
seen in tier 2, if the experiment is successful."

Coming soon: Get the latest news and expert analysis about the state of the
global economy with Reuters Econ World. Sign up here.

Reporting by Sai Ishwarbharath B and Haripriya Suresh; Additional reporting by
Praveen Paramasivam and Rishika Sadam; Editing by Dhanya Skariachan and
Jacqueline Wong

Our Standards: The Thomson Reuters Trust Principles.New Tab, opens new tab

Save
Share
 * Twitter
 * Facebook
 * Linkedin
 * Email
 * Link

Purchase Licensing Rights
Haripriya Suresh

Thomson Reuters

Haripriya reports on India’s $254-billion Indian information technology (IT)
industry, the country’s burgeoning GCCs, as well as new-age startups. With seven
years of experience, she has previously reported on politics, civic issues,
crime, and breaking news in south India, and tracked the country’s gig economy.
She has a degree in Media Studies with a specialisation in journalism from the
Symbiosis Centre for Media and Communication.

 * Email
 * Twitter
 * Linkedin


READ NEXT

ChevronChevron
 * article with gallery
   BusinesscategoryDoorDash disappoints Wall Street with downbeat quarterly core
   profit
   
   Shares of DoorDash sank more than 14% in extended trading on Wednesday after
   it projected second-quarter core profit below estimates, signaling that
   higher costs were offseting some gains from rising groceries and food orders.

 * BusinesscategoryUS LNG developer Tellurian sends production workers home amid
   sale talks
   
   U.S. liquefied natural gas (LNG) developer Tellurian Inc. has sent home more
   than a dozen workers from its upstream gas production business, according to
   three people familiar with the matter.

 * article with gallery
   BusinesscategoryAdvisory Glass Lewis recommends Shell investors oppose
   shareholder climate resolution at AGM
   
   Investor proxy advisory Glass Lewis recommended Shell shareholders vote
   against a resolution filed by a group of 27 investors urging the energy
   company to set tighter climate targets.

 * Securities EnforcementcategoryNew York City pension leader opposes election
   of Aramco's chief as BlackRock director
   
   A pension fund for New York City employees urged BlackRock's shareholders to
   vote against the election of Saudi Aramco's chief executive as director,
   citing potential conflicts of interest around the asset manager's
   decarbonizing strategy as well as human rights concerns.

 * Sustainable Finance & ReportingcategoryCanadian railway workers at CN, CPKC
   vote to strike, says union
   
   Thousands of railway workers in Canada at Canadian National Railway (CN) and
   Canadian Pacific Kansas City (CPKC) have voted overwhelmingly to strike as
   early as May 22, the union said on Wednesday.

 * article with gallery
   MarketscategoryLME plans for aluminium producers to submit carbon emission
   data by 2025
   
   London Metals Exchange(LME) on Wednesday launched a consultation requiring
   producers of aluminium brands deliverable against its contracts to submit
   carbon emissions data by March 2025.




WORLDCHEVRON


 * SOLOMON ISLANDS PICKS CHINA-FRIENDLY MANELE AS NEW PRIME MINISTER
   
   Asia Pacificcategory · May 2, 2024 · 4:38 AM GMT+2 · 44 min ago
   
   Solomon Islands lawmakers selected a new prime minister on Thursday, choosing
   foreign minister Jeremiah Manele, who has pledged to continue the Pacific
   Island nation's foreign policy that drew it closer to China.

 * Asia PacificcategoryTaiwan says may be hard to attend WHO assembly, Blinken
   offers support4:32 AM GMT+2 · Updated an hour ago
 * article with video
   EnvironmentcategoryKenya flood toll rises to 181 as homes and roads are
   destroyed4:04 AM GMT+2
 * article with video
   United StatescategoryViolence flares at UCLA as police end protests at New
   York's Columbia4:03 AM GMT+2
 * Asia PacificcategorySolomon Islands lawmakers select Manele as new prime
   minister
   
   Solomon Islands lawmakers selected a new prime minister in a secret ballot on
   Thursday, choosing foreign minister Jeremiah Manele, who has pledged to
   continue the Pacific Island nation's foreign policy that saw it grow close to
   China.
   
   3:22 AM GMT+2




SITE INDEX


LATEST

 * Home
 * Authors
 * Topic sitemap


BROWSE

 * World
 * Business
 * Markets
 * Sustainability
 * Legal
 * Breakingviews
 * Technology
 * InvestigationsNew Tab, opens new tab
 * Sports
 * Science
 * Lifestyle


MEDIA

 * 
   VideosNew Tab, opens new tab
 * 
   Pictures
 * 
   GraphicsNew Tab, opens new tab


ABOUT REUTERS

 * About ReutersNew Tab, opens new tab
 * CareersNew Tab, opens new tab
 * Reuters News AgencyNew Tab, opens new tab
 * Brand Attribution GuidelinesNew Tab, opens new tab
 * Reuters LeadershipNew Tab, opens new tab
 * Reuters Fact CheckNew Tab, opens new tab
 * Reuters Diversity ReportNew Tab, opens new tab


STAY INFORMED

 * Download the App (iOS)New Tab, opens new tab
 * Download the App (Android)New Tab, opens new tab
 * NewslettersNew Tab, opens new tab


INFORMATION YOU CAN TRUST

Reuters, the news and media division of Thomson Reuters, is the world’s largest
multimedia news provider, reaching billions of people worldwide every day.
Reuters provides business, financial, national and international news to
professionals via desktop terminals, the world's media organizations, industry
events and directly to consumers.


FOLLOW US

 * Twitter
 * Facebook
 * Instagram
 * Youtube
 * Linkedin


THOMSON REUTERS PRODUCTS

 * WESTLAWNEW TAB, OPENS NEW TAB
   
   BUILD THE STRONGEST ARGUMENT RELYING ON AUTHORITATIVE CONTENT,
   ATTORNEY-EDITOR EXPERTISE, AND INDUSTRY DEFINING TECHNOLOGY.

 * ONESOURCENEW TAB, OPENS NEW TAB
   
   THE MOST COMPREHENSIVE SOLUTION TO MANAGE ALL YOUR COMPLEX AND EVER-EXPANDING
   TAX AND COMPLIANCE NEEDS.

 * CHECKPOINTNEW TAB, OPENS NEW TAB
   
   THE INDUSTRY LEADER FOR ONLINE INFORMATION FOR TAX, ACCOUNTING AND FINANCE
   PROFESSIONALS.


LSEG PRODUCTS

 * WORKSPACENEW TAB, OPENS NEW TAB
   
   ACCESS UNMATCHED FINANCIAL DATA, NEWS AND CONTENT IN A HIGHLY-CUSTOMISED
   WORKFLOW EXPERIENCE ON DESKTOP, WEB AND MOBILE.

 * DATA CATALOGUENEW TAB, OPENS NEW TAB
   
   BROWSE AN UNRIVALLED PORTFOLIO OF REAL-TIME AND HISTORICAL MARKET DATA AND
   INSIGHTS FROM WORLDWIDE SOURCES AND EXPERTS.

 * WORLD-CHECKNEW TAB, OPENS NEW TAB
   
   SCREEN FOR HEIGHTENED RISK INDIVIDUAL AND ENTITIES GLOBALLY TO HELP UNCOVER
   HIDDEN RISKS IN BUSINESS RELATIONSHIPS AND HUMAN NETWORKS.

 * Advertise With UsNew Tab, opens new tab
 * Advertising GuidelinesNew Tab, opens new tab
 * CouponsNew Tab, opens new tab
 * Purchase Licensing RightsNew Tab, opens new tab

 * CookiesNew Tab, opens new tab
 * Terms of UseNew Tab, opens new tab
 * PrivacyNew Tab, opens new tab
 * Digital AccessibilityNew Tab, opens new tab
 * CorrectionsNew Tab, opens new tab
 * Site FeedbackNew Tab, opens new tab

All quotes delayed a minimum of 15 minutes. See here for a complete list of
exchanges and delays.

© 2024 Reuters. All rights reserved





RIGHT TO WITHDRAW CONSENT UNDER GDPR

We and our 203 partners store and/or access information on a device, such as
unique IDs in cookies to process personal data. You may accept or manage your
choices by clicking below, including your right to object where legitimate
interest is used, or at any time in the privacy policy page. These choices will
be signaled to our partners and will not affect browsing data.Cookie
PolicyPrivacy Statement


WE AND OUR PARTNERS PROCESS DATA TO PROVIDE:

Use precise geolocation data. Actively scan device characteristics for
identification. Store and/or access information on a device. Personalised
advertising and content, advertising and content measurement, audience research
and services development. List of Partners (vendors)

Allow All Reject All Show Purposes


Feedback