No interviews for PhD students from IITs: TCS

Tata Consultancy Services (TCS) CEO and Managing Director S Ramadorai said that the company would hire computer science PhD students who have graduated from any Indian Institute of Technology (IIT) in the country without any interviews for the next five years.

He was speaking at the Tata group CEOs panel discussion at the Pan IIT Global Conference 2008, being organised at IIT-Madras.

This would encourage students to pursue PhDs and take up research in computer science and encourage other companies to follow TCS, he said.

Meanwhile, management guru C K Prahalad, in his special address, said over the next 15 years, India can produce nearly 200 million college graduates and 500 million professionals across all professions in the country.

The country can contribute to 10 per cent of global trade and there should be at least 30 per cent of Fortune 100 companies from India.

"The country should be a laboratory of thinking and innovation" and should create at least 10 Nobel Prize winners in Science and Arts, he added.

Commenting on the global financial crisis he said it is an opportunity for India to become stronger, vital and a more vibrant economy.

ADAG says no firing; to hire 90,000

In the midst of massive layoffs being announced by various corporate houses hit by a global economic slowdown, Anil Ambani group on Friday said it is not planning any job reduction and is rather planning to create up to 90,000 employment opportunities in the next few months.

Debunking the reports that the group is laying off 6,000 people in its financial services and entertainment businesses, a spokesperson said, "There are no layoffs."

"In fact, the coming three months are high investment period for tax saving products and we are going to appoint almost 75,000 to 90,000 agents and sales representatives in the coming months," he added.

Earlier this month, Reliance Life Insurance's chief P Nandagopal had told PTI that the company would recruit 90,000 insurance agents and 2,500 sales managers by March 2009.