THE INDIA CEMENTS LIMITED Corporate Office : Coromandel Towers, 93, Santhome High Road, Karpagam Avenue,

R.A. Puram, Chennai -600028. Phone . 044-2852 1526, 2857 2100 Fax 044-2851 7198, Grams 'INDCEMENT'

CIN : L26942TN1946PLC000931

SH/SE/

BSE Limited Corporate Relationship Dept. First Floor, New Trading Ring, Rotunda Building, Phiroze Jeejeebhoy Towers Dalai Street, Fort MUMBAI -400001.

Scrip Code : 530005

Dear Sirs,

26.08.2020

National Stock Exchange of India Limited Exchange Plaza, 5th Floor Plot No.C/1, G Block Bandra-Kurla Complex Bandra (E) MUMBAI 400 051.

Scrip Code: INDIACEM

Sub.: Newspaper advertisement — Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

In terms of the Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in compliance with Circular No. 20/2020 dated May 5, 2020 issued by Ministry of Corporate Affairs (MCA), please find enclosed newspaper advertisements published in English dailies ,viz. Business Line and Business Standard and Tamil daily, viz. Dinamani on 18/08/2020 and 19/08/2020 respectively, intimating to shareholders, inter alia, that the 74th Annual General Meeting (AGM) of the Company is scheduled to be held on September 28, 2020 through Video Conferencing / Other Audio Visual Means.

Kindly acknowledge receipt.

Thanking you, Yours faithfully,

for THE INDIA CEMENTS LIMITED

COMPANY SECRETARY End.: As above

Registered Office Dhun Building, 827, Anna Saler Chennai - 600 002 www.indiacements corn

1111-1114.7

SiElt? Coranandel

Cement

................CH-XCMYK

CHENNAI

2 BusinessLineTUESDAY • AUGUST 18 • 2020NEWS

KGIRIPRAKASHBengaluru, August 17

Rishi Pardal has taken over asthe MD of United Breweries(UB) at a time when theindustry is facing a multitude ofchallenges because of thepandemic. In an interview withBusinessLine, Pardal spokeabout how the company plansto navigate through thesedifficult times. Excerpts:

You are taking over UB at atime when theindustry iswitnessing perhapsits worst phase. Doyou see anopportunity in suchcircumstances?We are in the midst of what Ibelieve is a ‘once-in-a-centuryevent’. Piloting the businessthrough this is the immediatepriority. We are focussed onkeeping our employees safe,engaging with our con-sumers, managing cash andcost with a great deal ofprudence and keeping a closewatch on our market share in

order to ensure we getthrough this difficult period. Icertainly see the potential tobuild on all the goodwork wehave done as a company andpivot to what we need to suc-ceed in the future.

Your earlier stints with theFMCG sector were withUnilever and Marico. Also,most of your recent stintswith companies wereabroad. Howmuch of such

an experience willhelp you to managean entity which isnot only large interms of footprintbut quite complex

in terms of operations?Inmy experience, irrespectiveof product category, the fun-damentals of enhancing thebusiness value are similar.These are creating customerand consumer value, drivingproductivity and building anempowered, agile and en-gaged team of diverse talent.Having also run a large busi-ness across multiple geo-

graphies, I have learned to ap-preciate how cultures impactour ability to motivate, en-gage and leadpeople andhownuances in regulatory frame-works can impact the samecategory in different coun-tries. I believe the India situ-ation is similar for the beer in-dustry and therefore my pastexperience will help in stew-arding UB in unlocking itspotential.

UB’s market share andvolume have gone down inthe last few years. So, whilethis financial year may notbe the right time to get thecompany back on rails,what are the medium-termgoals for the company andhow does it plan to getthere?Our full focus is now on com-

ing out of this unprecedentedpandemic even stronger, withan aim to further strengthenour market position by con-tinuing to build great brands,maintain our very strong bal-ance sheet and ensure costcompetitiveness given theun-certain demand picture. Asthe consumers and marketswill likely change in the mid-term, we take a very agile ap-proach to ensure we respondeffectively to these changes.

What is the status ofthe recentCompetitionCommission of India(CCI) case against afew beer companiesincluding UB? Hasthe CCI levied anypenalties on yourcompany?

CCI has not levied any penaltyso far. It has extended thedatefor filing of our reply and wewill do so shortly. It is onlyafter the hearing of all partiesis over that the CCI wouldpass an order.

Will UB continue to focus oncraft beer, which has notperformed to its potentialso far?The craft beer category is still

a very small segment ofthe overall beer in-

dustry. We arecommitted toproviding arange ofbrands andproducts tocater to everyneed of theconsumer. UBlaunchedKingfisher Ul-

traWitbierin

Karnataka and Goa in Decem-ber and the responsehasbeenvery encouraging. We had toput our footprint expansion—which was planned for thissummer—on temporary holddue to the lockdowns; how-ever, we shall resume thisshortly.

The five States whichcontribute most of therevenues to the beer sectorhave imposed high taxes.Howwill it play out for thelargest beer manufacturer?Beer is a highly taxed productcategory in the country, withrevenues/taxes accountingfor 60-80 per cent of the endconsumer price.

Post-Covid, many States im-posed large excise duties onthe category but also rolledthem back. We hope the re-maining States follow suit.The tax per ml of beer is thehighest in the alcobev cat-egory and, as market leaders,we are working with the gov-ernments to frame a moreequitable taxation policyfor a category like beer,which is a bridgebetween soft drinks andhard liquor.

It’s not good times, butUB is keeping the spirits high

ZY"Irrespective of the product category, thefundamentals of enhancing the businessvalue are similar...creating customer andconsumer value, driving productivityand building an empowered, agile andengaged team of diverse talent."RISHI PARDALMD, United Breweries

YZ

O

Focus is on coming out of unprecedentedcrisis even stronger, says MD Rishi Pardal

OURBUREAUHyderabad, August 17

Pharmaceuticals and biolo-gics company Biological E Ltd(BE) has acquired Akorn IndiaLtd, a subsidiary of US-basedAkorn Inc, for an undisclosedsum.“We are happy to have

made a strategic investmentin acquiring Akorn India,”Mahima Datla, Managing Dir-ector, BE, said in a re-lease issued onMonday. “We willleverage BE’s andAkorn India’s capabil-ities to enhance oursupply capacitiesboth in vaccines andin generic inject-ables. The timing ofthis acquisition is for-tuitous as it will immediatelyallow us to expand our capa-city to manufacture our in-vestigational Covid-19 vac-cine.”“With these capacities, we

would be in a position to offerover 1 billion doses per an-num,” she added.The deal will help Hydera-

bad-based BE, which manu-factures specialty generic in-

jectable medicines andvaccines, enhance its manu-facturing capabilities and ca-pacities, the release said.

Covid-19 vaccineIt is now developing aCovid-19 vaccine and may beable to use the facilities at theAkorn India Paonta Sahibplant inHimachal Pradesh forcommercial scale manufac-

ture of the vaccine, itadded.

The Himachalplant has a fullystaffed sterile inject-able manufacturingfacility with 39,000sqmof built-up areaspread over a 14-acrecampus with an an-nual capacity for

about 135 million units withthe potential for immediateexpansion to produce an-other 30million units.According to Narender Dev

Mantena, Director, BioE Hold-ings Inc., who heads BE’snovel vaccines initiative, theacquisitionwill allowBE to ex-pand its capacities to meetthe increasing demand in theUS and the EU.

Biological E buys Indian armofUSpharmafirmAkorn

MahimaDatla,MD, Biological E

BLOOMBERGAugust 17

The UK government’s bailouttalks with Jaguar Land Rover(JLR) and Tata Steel Ltd re-cently broke off, the FinancialTimes reported, citing peopleit didn’t identify.Talks between the UK’s

Treasury and the companies,both owned by Mumbai-based Tata Group, came to ahalt after the governmentconcluded the Indian mul-tinational was sufficiently fin-anced and didn’t qualify fortaxpayer support, accordingto the report.JLR also baulked at the

stringent conditions tied toany lending, including decar-bonisation requirementspushing electric vehicles.

Private financingThe failure to reach a deallikely leaves the companies re-liant on private financing toweather the economic down-turn. Both businesses remainin talks with the governmenton other areas of potentialsupport like tax breaks, whichcould extend to state loans inthe case of Tata Steel, the FTsaid.The Treasury told the paper

it did not comment on indi-vidual firms.Meanwhile, according to a

PTI report, Tata Motors hasdenied reports of aplan to sellits stake in JLR.

Speth’s 30% pay hikeSeparately, the Times reportedthat the pay of outgoing JLRchief Ralf Speth has risen 30per cent on last year to £4.44million ($5.8 million). “That’sat the same time as the com-pany increased its cost-cut-ting target to £2.5 billion andcut thousands of jobs. Histotal earnings for the pastfour years came to £18millionpounds,” it said.

UK’s bailouttalkswith JLR,TataSteel end

SANGEETHA CHENGAPPABengaluru, August 17

Among the top 16 tourismmarkets in the world, India isat the third last place in hotelbookings recovery for theweek ended August 9, 2020,compared to the same weeklast year. However, in terms ofweekly average recovery ratebetween week 22 and week 32of 2020, India is at the abso-lute bottom.This challenging trend is

expected to continue as thetraveller sentiment remainsweak,withCovid-19 spreadingin tourist centres such as Goa,Rajasthan, the North-East andKarnataka.Globally, the US (67 per

cent), China (66per cent), Ger-many (41 per cent) and

Canada (41 per cent) have wit-nessed strong recovery in thesame period as restrictionsease in these countries andthey move towards normalcy.India registered a 3 per centrecovery in week 22 of 2020(May 25-31), slowly rising to 12per cent in week 27 (June 29-July 5) and 20per cent inweek32 (August 3-9).

These are some of the keytrends observed by RateGain,a travel and hospitality tech-

nology provider that offers asuite of SaaS based productsto hotels, online travel agen-cies, airlines and car rentalfirms, among others.In India, while the week

ended August 9 saw an in-crease in hotel reservations,the top 10 markets —Ahmedabad, Chandigarh,Bengaluru, Chennai, Delhi-NCR, Hyderabad, Jaipur, Kolk-ata,Mumbai andPune— sawadip. Delhi received the mostbookings in that period, fol-lowed by Bengaluru and Hy-derabad, as perRateGaindata.

Smaller cities gain“The share of tier 2 and 3towns (in hotel bookings) isincreasing. Where earlier thetop 10 markets were getting90 per cent and above, the ra-tio last week has come downto 78per cent,with 22per centbookings going to smallerdestinations including Amrit-sar, Jammu, Coimbatore,Mysuru, Jodhpur and Rajkot.

Delhi-NCR continues to see re-covery on two trends — Aero-city hotels continue to receivebookings due to the VandeBharat Mission, while recov-ery in hotels in Gurugram,Faridabad and Noida are dueto increase in staycations andsmall wedding ceremonies,”said Apurva Chamaria, ChiefRevenue Officer, RateGain.Asked why the country’s

booking recovery rate isamong the lowest in theworld, Chamaria said: “Indiaenforced one of the strictestlockdown restrictions in theworld; plus Delhi, Mumbaiand Bengaluru, which con-tribute to 37 per cent of hotelrooms in the country, had themost number of Covid-19cases. Therefore, neither busi-ness travel, group bookingsnorMICE is happening.”

Strict lockdown,Covid spread in keymetro cities behindtrend: RateGain

Hotel bookings recovery: India ranks thirdlast among top 16global tourismmarkets

WXDelhi’s Aerocity hotelscontinue to receivebookings due to theVande Bharat Mission

OURBUREAUBengaluru, August 17

Homegrown short-formvideo app Mitron has raised$5 million in a round led byNexus Venture Partners.3one4 Capital and ArunTadanki’s private syndicate onLetsVenture also participatedin the latest round.

Mitron allows users to cre-ate, upload, view and shareone-minute videos. It waslaunched in April 2020 andachieved the 10million down-load milestone even beforethebanonChinese appsby In-dia, said the company.Mitron was founded by

Shivank Agarwal (alumnus ofIIT-Roorkee) and Anish Khan-delwal (alumnus of Vis-vesvaraya National Instituteof Technology), who hadearlier worked together atMakeMyTrip.

The latest round of finan-cing saw participation frommarquee angels includingDeep Kalra (Chairman, Make-MyTrip), Amrish Rau (CEO,Pine Labs), Jiten Gupta(founder, Jupiter), AmarjitBatra (MD, Spotify India),Anand Chandrasekharan(former Facebook, Snapdealexecutive), Karan Bajwa (MD,Google Cloud, India), RadhikaGhai (co-founder, Shopclues),Vikalp Sahni (co-founder andex-CTO at GoIbibo and Volun-teer Architect at AarogyaSetu)and Shanti Mohan (founder,LetsVenture). TK Kurien(Premji Invest), Manish Vijand Harish Bahl (SmileGroup) also participated intheir individual capacity.The company plans to use

the new infusion of capital toaccelerate its product devel-opment and hire talent.

Short-video appMitronraises $5m led byNexus

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ANEESH PHADNIS

When Kaushik Khona took over as thechief executive officer of GoAir in sum-mer of 2009, the airline had barely sixaircraft and limited operations. A fewmonths earlier, GoAir had introduced abusiness class product (the first for anIndian no-frills airline) and attractivefares to lure flyers. But customer confi-dence remained low owing to the highrate of flight cancellations. Khona, whohad been a vice president in the Wadiagroupbeforethisappointment,steadiedthe ship, improved the aircraft utilisa-tionandexpanded theairline’snetworkwith a focus on mini metros and tier IIcities.Whenhe left the airline in 2011, itwasinmuchbettershape,havingclocked61 and7per cent growth in revenueandnetprofit, respectively, inFY’11.

Khona’s abilities will be put to testagainashebeginsasecondinningsattheWadia group airline. The airline pressreleaseonFridaydescribedhimasaturn-aroundspecialistandaqualifiedresolu-tion professional. In the past 12 years,Khona turned around the operations ofDunlopTyresandrestructuredarenew-ableenergyandshippingventurebeforetaking up a consulting role in Talati &Talati LLP, theairline said.

Khona’ssecondinningsatGoAirwillbe more challenging than the first.Globally, theaviationindustry is indeepdistress because of the pandemic.Domesticairtrafficisdown82percentona year-on-year basis and the industry-wideloadfactoris50-55percent.GoAir’sload factor fell to 50.5 per cent in Julyfrom 57.9 per cent in June. Most otherairlinesoperatedcargo-only flightsdur-ing April-May to support revenue butGoAir failed to capitalise on the oppor-

tunity.Theairlinereliedonathirdpartyforcargohandlingandwasdevelopingitsownin-housecapabilitieswhenthepan-demicstruck. Againstan industry-widecapacity deployment of around 30 percent of pre-Covid period, GoAir is oper-atingonlyat10-12percentcapacity.Theairline operates around 40 flights dailyincludingcharters.

Khona’s challengewouldbe to shoreup the airline’s finances. Cashandbankbalancehadhalvedto~72.5croresequen-tially in the June-end quarter and itscredit rating downgraded in July, giventhe weak liquidity outlook. He will alsohave to negotiatewithAirbus regardingscheduled aircraft deliveries given thechangedbusinessoutlook.LastOctober,theairlinehadindicateditwouldinductone aircraft a month. It has a fleet of 55aircraft atpresent.

Motivatingtheworkforcewillalsobeessentialsincetheairlinehasputaround70 per cent of its staff on leave without

pay since March. Several senior execu-tives, too, have quit in recent weeks.“Otherairlineshavecutsalariesandjobsbuthavemanagedpublicperceptionbet-ter,” saidan industryexpert.

“GoAir has takena spreadsheet-driv-enhard-lineapproachtosavecash.Withno bailout or support coming from thegovernment, the promoters probablybelieve that is the only way to save theairline,” the industryexpertpointedout.Thisalsoexplainswhytheairlineisoper-ating fewer flights than others. Insiderssayitisnotprudenttoaddflightsiftheair-lineisunabletomakemoneyfromthem.TheJune-Septemberperiodisalsotradi-tionally aweakquarter for domestic avi-ation and executives are hoping for ademandrecovery fromnextmonth.

Somebelieve that cash conservationalone will not help and the airline willhavetofocusonoperationalefficiencies.Duringhisearliertenure,GoAir’saveragefleet utilisationhad increased to over 14hours a day, among the highest in theindustry, and this helped it achieveeconomiesof scale.

“KaushiktakingoverGoAirispossiblythe most agile and aggressive step theWadias could have taken;more so sinceKaushik,unlikeanyoneelsebeforeintheCEO role, knows the management andfunctioning DNA of the Wadia groupextremely well,” said Mark D Martin,founder&CEOofMartinConsultingLLC,an aviation consulting and safety firm.

His approach with GoAir centres onhis powerful understanding of airlinefinancials,P&Landrevenueandreturns,and this has worked extremely well forGoAir in thepast,headded.

Othersbelieveamerechangeinguardwill not help GoAir ride the storm.“Kaushik’s first tenure as GoAir’s CEOwasgoodandwewishhimgoodluckforthe second tenure. His induction thistimeisundersevereandchallengingcir-cumstances—mostofwhicharebeyondhis control, especially recapitalisation,”saidKapilKaul, SouthAsiaCEOof avia-tion consultancy CAPA, in a statement.

NEWSMAKER/ KAUSHIK KHONA / GOAIR CEO

Turnaroundexpertbackinthecockpit

PEERZADAABRARBengaluru, 17August

The Indian Premier League’s (IPL)2020editionisthemosthighlyantic-ipatedcricketingeventcomparedto

thepreviousseasonsduetothedisruptioncausedbytheCovid-19pandemic.Bigcom-panies suchasTata Sons andReliance Jioare eyeing the title sponsorship of IPL,which would be held in the United ArabEmirates,toreplaceChinesemobilephonecompany Vivo this season. Interestingly,education technology start-ups Unacad-emyandByju’s,which competewith eachother, have also reportedly joined the fray.ThisreflectsthenewlevelsofambitionsbyIndian edtech companies as much of thecountry’s$180-billioneducationsectorgoesonline toadapt to thenewreality.

The pandemic has been a watershedmoment for India’s edtech sector. SinceMarch,Unacademyhasdoubledthenum-ber of active subscribers. The monthlywatchtimehasreachedanall-timehighofover 1billionminutes.

Unacademyhasopeneduptheplatformto schools and colleges to conduct liveclasses without any interruptions. TheBengaluru-based start-upwas foundedbyGauravMunjal,RomanSaini,andHemeshSinghin2015, initiallyonYouTubein2010.It now has a network ofmore than 18,000educatorsand30millionlearners.Itexpectstoearnanannualrecurringrevenue(ARR)ofabout$300million in thecomingyears.

Accordingtoindustryinsiders,bigtechcompanies including Facebook, Googleand Microsoft are eyeing investments inthese start-ups.

Social media giant Facebook hasalready placed its bet on Unacademy. Itparticipated ina$110-million investmentround inFebruary.Theround,whichwasledbyGeneralAtlantic,alsodrewfundingfrom Sequoia India, Nexus VenturePartners, Steadview Capital and BlumeVentures.Flipkart’sCEOKalyanKrishna-murthy and Udaan co-founder SujeetKumar also participated in the round,whichaccordingtosources,gavethecom-panyapost-moneyvaluationof $510mil-lion. Unacademy is now in talks withJapan’s SoftBank and other investors toraise$200million,valuingthecompanyat$1.2 billion.

“This (online education) is an expan-sive space andnot awinner-takes-all cate-gory,” said Ankur Pahwa, partner andnationalleader,e-commerceandconsumerinternetatEYIndia.“Therearemanystart-upsfocusingonvariouschallengesthatthe

segment faces, from provid-ingcontentinlocallanguages,upskilling teachers and edu-cation in new technologies.”

Pahwa said edtech com-panies have raised almost $1billion in funding this year.“Investors are also excitedthat what’s being built inIndia could be potentiallyapplicable across theworld,”said Pahwa.

Indeed, Byju’s strategy toexpand in global marketswas reinforced when itacquired this monthMumbai based edtech start-up, WhiteHat Jr, whichteaches coding to children,for a $300 million all-cashdeal. WhiteHat Jr plans toexpand to Canada, UK,Australia and New Zealand(ANZ) after strong growth inthe US. Since February thisyear, WhiteHat Jr has beengrowingatmore than100percent month-over-month.Last year Byju’s acquiredOsmo, a US-based maker ofeducational games, for $120million to propel its global ambitions.

The pandemic has helped Byju’sbecome adecacorn and cross $10.5 billioninvaluationafterraisingnewfundingfromSiliconValleyinvestorMaryMeeker’sBondCapital.Byju’shasnowjoinedtheleagueof24 decacorns such as TikTok-ownerBytedanceandElonMusk’sSpaceX.

Since the lockdown, Byju’s has seenover 15 million new students joining itsplatform. Last month, the companylaunchedByju’s classes, a comprehensiveonline tutoring programme for person-alisedafter-school learningsolutionsfromIndia’s top teachers. Byju’s learning apphasover64millionregisteredstudentsand4.2 million annual paid subscriptions.Byju’ssaidit isnowinchingtowardsthe$1-billion revenuemilestone.

Pahwa of EY said there is a ground-swell of support for online educationfuelledbypenetrationinto“Bharat” (small

towns and rural India).“Edtechcompaniesaremoreagile and can adapt to thefast-changingenvironment,”he pointed out.

One such fast-growingcompany is Vedantu, whichprovides live tutoring withsome of the best-curatedteachers. In July, it raised$100million from US-basedinvestmentfirmCoatuewithparticipation from existinginvestors. With this round,the Bengaluru-based firm’svaluation jumped to $600million,makingit thesecondmost-valued company inIndianedtech.

Vedantu grew 220 percent during the lockdown,with more than two millionstudentsattendingliveclass-es. With this definitive shiftin consumer behaviour,Vedantu is investing toscaleimpactandget intonewcat-egories.Overonemillionstu-dentsstudyliveeverymonthon the Vedantu platform.Also, more than 25 million

users everymonth from over 1,000 citiesand40countriesaccess freecontent, testsand videos onVedantu’s platformand itsYouTube channels.

Coursera, the Mountain View,California-basedonlinelearningcompany,is also witnessing a huge demand in thecountry.SinceMarch, ithasaddedover3.6million learners in India compared to1.4million inall of 2019.

As of the end of July, there were ninemillion registered learners from India onCoursera. It has attracted over 50 enter-prise customers including TataCommunications andAirtel. Thismonth,Indian Institute of Technology (IIT)RoorkeepartneredwithCourseratolaunchtwonewcertificateprogrammes—inarti-ficial intelligence and machine learning,and in data science— as part of the insti-tute’s commitment to making its pro-grammes accessible to learners globally.

S alaried jobs have taken thebiggest sustained hit in the cur-rentCovid-19-induced lockdown.

Salaried jobs are preferred formsof employment for most people.These jobs offer better terms ofemployment and also better wages.Householdswith salaried jobs are bet-ter placed to build savings and plan asustained improvement in their stan-dard of living. Such households arealso better placed to borrowand serv-ice their borrowing because of thesteady nature of their earnings.

While informal jobshave returned,and even increased after being hit bythe lockdown, formal jobs have not.Non-salaried forms of employmenthave increased from 317.6 million in2019-20 to 325.6 million in July 2020.This implies a growth of nearly 8 mil-lion jobs or an increase of 2.5 per centin informal employment. However,salaried jobshavedeclinedby18.9mil-lion by the same comparison. Or,declined by a whopping 22 per centduring the lockdown.

Urban India hasmore salaried jobsthan rural India. Of the 86 millionsalaried jobs in India in2019-20, 58percent were in urban India and 42 percent inrural India.Job lossesarealso in

similar proportions.Salaried jobs in urban India are

likely to be the better paying jobs;theyofferbetter termsof engagementandalsoare jobs thatyieldhigherpro-ductivity compared to salaried jobsin rural India. Loss of these urbansalaried jobs is, therefore, likely tohave a particularly debilitatingimpacton theeconomy,besides caus-ing immediate hardship to middle-class households.

Financial statementsof listedcom-panies for the quarter ended June2020 provide a few insights intosalaried jobs. Listed companies pro-vide among the better salaried jobs.

Financial statements for the quar-ter ended June 2020 of 1,560 compa-nies were available inCMIE’s Prowess databaseasof the lastweekend.Thisis about a third of all com-panies thatusuallyprovidesuch data every quarter.Usually, such databecomes available for allcompanies within 45 daysof the end of the quarter,whichwouldhavebeenbyAugust 15 for the June2020 quarter. But, because of theCovid-19 crisis, companies have beenallowed time till September 15 to pub-lish their financial statements.

The wage bill of these 1,560 listedcompanies recorded a 2.9 per cent yoyincrease in theJune2020quarter.Thisis the lowestgrowth inthepast 18years.

What is revealing in this data is thestark differences between industries.Acaveatbeforewediscuss these is thattheseare still preliminary results andabetter picture will emerge only after amonth. Nevertheless, these resultsindicate a pattern that is worth noting

evenwith these preliminary data.Banks saw a 16.6 per cent increase

in their wage bill and securitiesbroking companies sawa 13.5 per centincrease in theirs but manufacturingcompanies sawa7per cent fall in theirwage bill. The services sector was amixed bag.

Withinmanufacturing, textileshasseen thebiggesthit. Itswagebill fell by29 per cent. Textiles is a labour-inten-sive industry and this sharp fall in thewage bill implies a very sharp fall inemployment in the industry.Thesameholds true for leather, another labour-intensive industry.This recordeda22.5per cent fall in itswagebill in the June2020 quarter. Automobile ancillariesreported a 21 per cent decline in its

wage bill and the auto-mobiles’ wage bill wasdown by 18.6 per cent.These, again, arelabour intensive.

In the services sec-tors, thewagebill of thetourism industry wasdown30percent,hotelsand restaurants downby 20.5 per cent, roadtransport down by 27.6

percent,educationby28percent.Wagebillof therealestatesectorwasdownby21percent.Thewagebillof thetelecomsector increasedby 10.7 per cent.

These are large inter-industry vari-ations. Although the net result showsup as a marginal increase in the wagebill, implying a very small loss of jobs,thedata indicatebig job losses inmanyindustries in the first quarter of 2020-21. CPHS estimates show a loss of 17millionsalaried jobs in thequarter.Wealso know that this got worse in July.

Thewriter isMDandCEO,CMIEPLtd

MAHESH VYAS

Lossofsalaried jobsON THE JOB

While informal jobs have returned, and even increased after beinghit by the lockdown, formal jobs have not

Pandemic puts thebloom on edtechStart-ups jostle to tapIndia’s $180-billioneducation sector asCovid-19 forceslearning to go online

Loss of urbansalaried jobs islikely to have aparticularlydebilitating impacton the economy,besides causingimmediate hardshipto middle-classhouseholds

ProgressreportUNACADEMY>18,000:registerededucators>30million: learners>100%:increaseinactivesubscriberssinceMarch>$1.2billion:valuation>$200millionlikelyinvestmentfromSoftBank

BYJU’S>Acquiredcodingstart-upWhiteHatJrfor$300million>Becameadecacorn>$10.5billion:valuationafterrecentlyraisingnewfunding>Facebook,GoogleandMicrosoftareeyeingtoinvestinedtechfirms>15million:newstudentssinceMarch

CHENNAI | TUESDAY, 18 AUGUST 2020 TAKE TWO 7. <

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