English हिन्दी
Connect with us

India News

Oracle layoffs trigger fresh fears for Bengaluru housing market as IT slowdown deepens

Oracle layoffs and a broader IT slowdown are beginning to impact housing demand in Bengaluru as tech professionals delay big home purchases amid job uncertainty.

Published

on

Oracle layoff

Layoffs at Oracle have intensified concerns across India’s major technology hubs, with early signs now emerging in the housing markets of cities like Bengaluru, Hyderabad, Pune and NCR, where IT incomes have historically driven residential demand.

The job cuts, which reportedly affected around 12,000 employees in Oracle India, are part of a broader global workforce reduction plan that could total nearly 30,000 roles. The company cited organisational changes and informed affected employees that their roles had been eliminated with immediate effect, with termination emails reportedly sent early Tuesday morning US time.

The development comes at a time when growth in India’s IT services sector is already slowing after two decades of rapid expansion. Market experts say the combination of layoffs, slower hiring and automation is beginning to change financial behaviour among tech professionals, especially when it comes to large housing purchases.

Saurabh Mukherjea of Marcellus Investment Managers said in a podcast that the IT sector is entering a structural slowdown. Between 2005 and 2020, IT services firms grew revenues and headcount at roughly 15 percent annually, but growth has now slowed to around 5 to 6 percent, with hiring tapering off after the Covid period. He noted that the slowdown began even before artificial intelligence became a major factor.

Artificial intelligence is now accelerating the shift. A 2025 report by NITI Aayog estimated that up to 20 percent of jobs in IT services and call centres could be impacted by automation by 2031, adding further uncertainty to hiring trends.

Bengaluru shows early impact

Real estate experts say the first visible spillover is appearing in Bengaluru’s property market. Some technology professionals are reportedly postponing high-value home purchases, while others are choosing lower-cost housing to reduce financial risk.

This shift follows a sharp rise in housing prices between 2021 and 2023 and indicates a change in buyer behaviour rather than a sudden collapse in demand. However, analysts warn that prolonged hiring slowdowns or continued layoffs could weaken housing absorption and increase pressure on existing inventory.

Real estate consultant Vishal Bhargava noted that layoffs tend to affect housing demand in two ways — employees who lose jobs struggle with loan repayments, while those still employed often delay purchases due to fear of job loss.

Financial markets are already reflecting the transition. The Nifty IT index has fallen around 25 percent so far in 2026 as investors adjust growth expectations for the sector.

According to a note by ICICI Direct, the sector may be entering a deflationary phase where automation reduces human effort and compresses revenues linked to billable hours. The note estimates annual revenue deflation of 2 to 3 percent in the near term, with nearly 30 percent of the industry exposed. In a downside scenario, as much as 80 billion dollars of Indian IT revenue could be at risk.

Long-term outlook tied to AI transition

Despite the near-term concerns, the long-term outlook depends on how quickly companies adapt to AI-led services. Estimates suggest that AI-driven services could expand the total addressable market by 300 to 400 billion dollars by 2030.

India’s IT exports contribute roughly 300 billion dollars in foreign exchange, making the sector critical to the country’s economic stability. Any structural shift in the industry is therefore likely to have wider economic implications beyond the technology sector.

A research paper titled The 2028 Global Intelligence Crisis by Citrini Research outlined a hypothetical worst-case scenario in which rapid AI automation could lead to large-scale job losses and financial instability by 2028. The report argued that Indian IT firms could be vulnerable if global clients increasingly shift to AI coding tools available at significantly lower cost.

However, the authors described the scenario as a stress test rather than a base-case forecast. Even so, the report has intensified debate over how quickly IT firms can transition to higher-value AI services and whether the broader economy can absorb the shock if the transition is slow.

For now, early indicators — layoffs, slower hiring and cautious home buying — suggest that the impact of the IT sector’s slowdown is beginning to move beyond the technology industry into the broader economy.

Continue Reading

India News

BJP fields Suvendu Adhikari aide’s mother Hasirani Rath in Nandigram

The BJP has named Hasirani Rath, mother of late Suvendu Adhikari aide Chandranath Rath, as its candidate for the Nandigram Assembly by-election.

Published

on

Suvendu Adhikari

The BJP has named Hasirani Rath as its candidate for the Nandigram Assembly by-election in West Bengal, ending speculation over who would contest the politically significant seat.

Hasirani Rath is the mother of late Chandranath Rath, who had served as a personal assistant to West Bengal Chief Minister Suvendu Adhikari. She is scheduled to file her nomination papers in the presence of Adhikari.

The BJP has also nominated Shakharav Sarkar for the Rejinagar Assembly constituency. The by-elections in Nandigram and Rejinagar are scheduled for October 6, while September 16 is the last date for filing nominations.

BJP picks Chandranath Rath’s mother

Chandranath Rath, a native of Chandipur in East Midnapore, had worked as Suvendu Adhikari’s personal assistant. He was killed on May 6, two days after the West Bengal Assembly election results were declared.

According to the report, Chandranath Rath was shot at close range by motorcycle-borne attackers in Madhyamgram in North 24 Parganas while he was riding pillion. The rider accompanying him was also injured.

After the incident, Suvendu Adhikari met Chandranath Rath’s family and assured them of justice. Hasirani Rath has since continued to express her faith in Adhikari.

Local residents had earlier demanded that Hasirani Rath be fielded from Nandigram. The BJP has now formally nominated her for the constituency, which is listed as Assembly Constituency No. 210.

Hasirani Rath’s political background

Hasirani Rath comes from a middle-class background and has been associated with politics since 1998. She has previously contested panchayat elections and served as a panchayat member for two terms.

Her nomination puts a grassroots political figure at the centre of the BJP’s campaign in Nandigram. The move also follows the party’s recent selection of candidates with personal connections to politically significant events in West Bengal.

Nandigram bypoll on October 6

The Nandigram and Rejinagar Assembly by-elections will be held on October 6, with the nomination process set to close on September 16.

Hasirani Rath said she would accept the responsibility assigned to her by the BJP. She also referred to Suvendu Adhikari as her guardian while speaking about her candidature.

The Nandigram contest is particularly significant for the BJP as the seat was previously held by Suvendu Adhikari, who retained another constituency after winning both seats in the 2026 West Bengal Assembly election.

Continue Reading

India News

Modi-Xi meeting draws global attention, China says India should be partner

Chinese Foreign Minister Wang Yi said the Modi-Xi meeting at the BRICS summit reached a consensus on partnership, border peace and wider cooperation.

Published

on

Chinese Foreign Minister Wang Yi has said Prime Minister Narendra Modi and Chinese President Xi Jinping reached a key consensus during their meeting on the sidelines of the 18th BRICS Summit in New Delhi, with both sides viewing India and China as partners rather than rivals.

The meeting between Modi and Xi took place on September 12 during Xi’s two-day visit to New Delhi for the BRICS summit. According to Wang, the two leaders held a candid and in-depth discussion on strategic, long-term and broader issues concerning India-China relations.

India-China partnership highlighted

Wang said the “most important consensus” reached by the two leaders was that China and India should be partners.

According to the Chinese foreign minister, Xi said the two countries could draw on each other’s strengths, support one another and pursue common development.

Wang also said the Modi-Xi meeting attracted widespread international attention.

He described the recent improvement in China-India relations as a shift from a “restart” towards a “renewed elevation”, while saying that cooperation between the two countries has continued to expand.

Focus on border peace

The two countries agreed to jointly maintain peace and tranquility in their border areas, Wang said.

He added that both sides pledged to strengthen political mutual trust, appropriately manage differences and contradictions, and maintain peace along the border.

During his meeting with Modi, Xi called for mutual respect and understanding to help overcome disruptions in bilateral ties. He also advocated progress on India-China relations and border issues, with the two tracks reinforcing each other.

Wang said Modi responded positively and reaffirmed that India approaches its relationship with China from a strategic and long-term perspective.

Modi says India ready to be China’s partner

According to Wang’s account of the meeting, PM Modi said India was ready to be a partner rather than an adversary to China.

Modi also viewed the development of the two countries as an opportunity rather than a challenge, Wang said.

He added that India remains committed to high-level exchanges with China, stronger strategic communication and broader people-to-people ties based on mutual respect and trust.

Cooperation in BRICS and other forums

The two leaders also agreed to support each other’s BRICS chairmanship, according to Wang.

They discussed stronger coordination through multilateral platforms, including the United Nations, the Shanghai Cooperation Organisation and the G20.

The two sides also agreed to expand cooperation in areas including cultural and people-to-people exchanges and direct air connectivity, Wang said.

Wang said China and India should deepen mutually beneficial cooperation and contribute to cooperation across the Global South.

China calls for implementation of consensus

Chinese Foreign Ministry spokesman Guo Jiakun said China would work with India to implement the understandings reached by Modi and Xi.

Guo said Beijing would seek to expand the areas of cooperation, deepen people-to-people exchanges and strengthen coordination in multilateral forums.

He also said China would continue efforts to improve bilateral ties and support each other’s development, with the aim of contributing to peace and prosperity in the region and beyond.

PM Modi and Xi Jinping reached a key consensus that India and China should be partners, not rivals, Chinese Foreign Minister Wang Yi said after their BRICS meeting.

The two sides also discussed border peace, BRICS cooperation and stronger bilateral ties.

Continue Reading

India News

3 Italians leave Delhi without immigration clearance, Air India gets notice

Three Italian nationals flew from Delhi to Munich without immigration clearance after travelling from Amritsar. The Civil Aviation Ministry has issued Air India a show-cause notice.

Published

on

Three Italian nationals travelled from Delhi to Munich without completing mandatory immigration clearance, prompting the Ministry of Civil Aviation to issue a show-cause notice to Air India.

The incident took place in the early hours of September 4. The three passengers had arrived in Delhi from Amritsar on Air India flight AI-1115 at around 12:50 am before boarding Lufthansa flight LH-763 to Munich at approximately 1:45 am.

The ministry has sought an explanation from Air India and given the airline seven days from receipt of the notice to respond.

How the passengers bypassed immigration

The three passengers were travelling under Air India’s hub-and-spoke arrangement, in which travellers from smaller airports connect to international destinations through a major hub.

They travelled from Amritsar to Delhi and were issued domestic, or “D”, boarding passes for their Air India flight. They were also issued boarding passes for their onward Lufthansa flight to Munich at Amritsar.

According to the ministry’s notice, Air India’s standard operating procedure provides for two categories of boarding passes — “D” for domestic passengers and “I” for international passengers. The ministry has questioned the issuance of the additional boarding passes in this case.

After arriving in Delhi, the passengers were taken from Gate 39 towards the International-to-International Transfer Area. They then reached the departure area and boarded the Lufthansa flight without passing through the immigration checkpoint.

Ministry flags five SOP provisions

The Ministry of Civil Aviation has flagged five provisions of Air India’s Domestic-International Operations SOP in connection with the incident.

These include rules concerning the categories of boarding passes, segregation of domestic and international passengers after disembarkation, and access to the International-to-International Transfer Desk.

The ministry has also raised questions over Air India’s requirement to maintain a nodal officer and monitoring team at hub and spoke airports around the clock. These mechanisms are intended to ensure that passengers do not enter the international departure process through an incorrect route without completing the required formalities.

The ministry said the monitoring mechanism failed in this case.

Ministry seeks answers from Air India

The show-cause notice asks Air India to explain how passengers holding domestic boarding passes were able to enter the international transfer area.

It has also sought clarification on why the passengers were issued boarding passes for their onward Lufthansa flight at Amritsar and has asked about the role of Air India personnel and SATS staff involved in handling the passengers.

The ministry has further sought information about the designated nodal officer and monitoring team’s presence and actions at the time. It has questioned why the required reconciliation of domestic and international passengers was not completed promptly.

Questions have also been raised over whether the General Declaration, passenger manifest and API-PNR data concerning the passengers were shared with immigration authorities in time and whether their status was accurately reflected in those records.

Lapse detected during manual reconciliation

According to the notice, the lapse was detected later during manual reconciliation.

The incident has therefore raised questions about both the handling of the passengers and the systems intended to prevent domestic-arrival passengers from entering the international departure process without completing immigration clearance.

Air India gets seven days to respond

The Ministry of Civil Aviation has asked Air India to explain why action should not be initiated against the airline for failing to follow the prescribed SOP and take adequate precautions.

The airline has seven days from receiving the notice to submit its response.

The ministry has warned that failure to respond within the stipulated period could be treated as having no explanation to offer, after which administrative and regulatory action may be considered based on the available records.

What is the hub-and-spoke model?

Under a hub-and-spoke model, passengers from smaller airports travel through a major airport before connecting to international destinations.

In this case, the passengers travelled from Amritsar to Delhi before connecting to a Munich-bound international flight.

At the hub airport, passengers arriving on domestic flights but holding onward international bookings must be identified and routed through the prescribed process, including immigration clearance before leaving India.

In the Delhi incident, the three Italian passengers instead entered the international transfer process and boarded their Munich flight without completing the required immigration formalities.

Continue Reading

Trending

© Copyright 2022 APNLIVE.com