IIMC ranks 17th among global best
Call it double Diwali dhamaka for the Indian Institute of Management Calcutta (IIMC). On the one hand, the premier management institute has been ranked 1st in India among the five Indian B-Schools listed in the Financial Times Masters in Management Rankings
2019. On the other, IIMC achieved yet another feat of
100 per cent summer placements for the 56th batch of
480 of the MBA programme. As many as 136 participating firms offered nearly 200 roles to the class of 2021.
IIMC has secured Rank 17 globally in the rankings for its 2-Year Masters in Business Administration (earlier Post Graduate Programme in Management).
Among the parameters that the ranking was focused on, IIM Calcutta did better than its nearest Indian compatriots on categories which include – today’s salary, weighted salary, salary percentage increase, career progress ranking, involvement of international faculty, inclusion of international board members, percentage of female faculty and student gender diversity ratio, IIMC officials said.
“With the internationalisation of our curriculum over the years and some of the best faculty from across the world, our offerings are curated to address the needs of the dynamic business environment. As a result, we’ve been able to create a pool of ethical and responsible leaders across domains.
The rankings will help us network more closely with the top B-schools across the globe,” said Professor Prashant Mishra, Dean, New Initiatives and External Relations.
On the summer placements, Prof Mishra said, “The institute community is extremely happy that our sustained efforts in making the process more student centric has yielded excellent results for the students in availing the most preferred opportunity for themselves”.
Finance and consulting firms accounted for 43.2 per cent of the total offers. Several firms also opened international roles, including Bank of America Merrill Lynch, Deutsche Bank, Barclays, Hexaware. Financial services majors such as Brookfield, Macquarie, Gaja Capital, Bank of America Merrill Lynch, Barclays, Deutsche Bank, BPEA, Edelweiss, DE Shaw, Avendus actively participated in hiring interns. Citibank (15) closely followed by Goldman Sachs (11) were the largest recruiters in the banking and finance sector. The sector also saw first timers like NIIF, Indigrid and White Oak Capital Management.
Both online grocery retail and modern grocery retail are growing faster to grab increased share of the overall market in the next four years. While modern retail is poised to grow to a size of
$60 billion, online grocery retail will be a $10.5 billion.
While the $525 billion food and grocery market is expected to grow by a CAGR of 9 per cent to $880 billion by 2023, modern retail would grow by 25 per cent and almost double its market share to 6.7 per cent and online retail would grow by
55 per cent for a 1.2 per cent share, finds a study by
BigBasket.com and RedSeer Consulting.
Increased comfort and trust of customers in e-tailing, especially electronics and fashion coupled with strong value proposition of e-grocery players, wide varied assortment and express delivery options, will drive this growth, finds the study.
“The online grocery segment has been one of the fastest-growing ecommerce verticals in India and will continue to flourish in both metro and nonmetro cities in the years to come,’ said Hari Menon, CoFounder and CEO,
BigBasket.com. However, each channel will serve a different need of the customer and hence keep growing. Local kirana stores will continue to serve as a channel that serves immediate needbased items such as fresh vegetables and dairy and immediate need-based items not available in kirana stores will be purchased from modern retail stores. Online grocery sites will meet the needs for generic categories like staples, snacks, biscuits and body care products.
India’s online grocery space has gone through a significant evolution in last few years – from explosive growth and funding in CY15 to growth challenges and funding winter in CY16 and then kickstart and accelerated growth phase 2018 onwards. In this stop-start journey, many new business models have evolved, and many themes have been proven and disproven.
The study finds that tier 1 cities marked by low modern retail penetration vis-àvis metro and mini metros are fertile grounds for online grocery retailers. They have established themselves in catchment areas where the proximity to modern stores is less.