This Budget positions India's taxation ideology as not merely a revenue source but as a strategic catalyst for growth, inclusion and long-term confidence.
Fresher hiring grew by 8 per cent driven by non-IT services oil and gas, real estate, and education sectors.
The funding environment in India for startups is improving this year if one were to go by Bain & Company estimates. Five private equity (PE) investors that come on top on the criterion of deal size collectively put in $9 billion in the first half of 2024, surpassing their outlay for last calendar year, when it was $8 billion. At the top of the list is Swedish firm EQT, which acquired US-based and listed Perficient at an enterprise value of $3 billion, the deal being done by the Indian wing of the company. It has also added to its list by putting in $500 million in WSO2, a "software as a service" company, increasing its tally to $3.5 billion.
'The overwhelming evidence from various studies and reports indicates that the current work culture in the IT sector, characterised by excessive hours, has severe consequences for health, productivity, and overall quality of life.'
Double-digits salary hikes are making a post-pandemic comeback on the back of a buoyant business outlook in 2023, according to global professional services firm Aon. Aon's latest "Salary Increase Survey in India" has not only projected a 10.4 per cent average hike across sectors for 2023, but also identified actual hikes in 2022 at 10.6 per cent as against its previous projection of 9.9 per cent in February. The figure of 10.6 per cent is the highest since 2012, whereas the 10.4 per cent levels projected for 2023 were last seen in 2015.
'These companies hired in high numbers last year and are balancing that out this year by recruiting fewer freshers.'
Hyderabad evolved as a preferred investment destination during 2007-2008.
An increasing number of vacant seats, inadequate faculty and bleak hiring is threatening the growth of leading technical institutes in the country.
About 640,000 professionals were employed in the domestic market and 23,24,000 in outside the country.
'About 1.2-2 million people will be added to the IT-ITeS workforce by 2020.'
Skill improvement has failed to keep pace with salary hikes.
All the three tax-free enclaves were given formal approval, which would have lapsed by end of this month. While the ministry granted extension of time 'on file', the decision has to be ratified by the inter-ministerial Board of Approval which is meeting here on June 17.
Reliance Communications has received approvals from Maharashtra and MIDC for its proposed 45-acre special economic zone.
The appeal of a Masters in Computer Application and how you can sign up.
The central government is likely to extend the Software Technology Parks of India (STPI) scheme beyond 2009 only to Indian information technology-enabled services/business process outsourcing (ITeS/BPO) firms. A proposal to this effect has been included in the 11th Five-Year Plan document, which will be put up for the approval of the National Development Council, headed by the prime minister, on December 19.
India's booming IT and ITeS sector is estimated to have hired 3,80,000 people during the current financial year as demand for technology talent gained further momentum, officials said.
Finance Minister P Chidambaram will give away the 'Businessworld Most Respected Company Awards' for 2004 in Mumbai on Friday.
The seventh annual Nasscom ITES-BPO strategy summit commences in Bangalore on Tuesday.
Videsh Sanchar Nigam Ltd and AT&T have entered into an agreement to jointly offer Multi-Protocol Label Switching platform-based networking services in India, including ATM, Frame Relay and secure Internet Protocol dial services.
FLAG Telecom, a Reliance group company has denied media reports alleging that it has resorted to high pricing impacting the growth of Indian business process outsourcing units and information technology enabled services.
Manpower shortage in India's high potential, high-growth ITES-BPO industry by 2009 is estimated to be 2.62 lakh people, officials said on Tuesday.
The global spend on business process outsourcing is estimated to be $234 billion in 2005 while the global human resources outsourcing (a comparatively new phenomenon) size is estimated at $ 67 billion, which is 29 per cent of the global BPO pie.
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