India is a global leader in software development services, IT enabled services, knowledge process outsourcing services and contract R&D services relating to software development, Sitharaman said noting these business segments are quite inter-connected with each other.
Building on last year's clearance of 172K cases, I-T department is pushing for faster appeal disposals, penalty reforms and system-driven processes to curb litigation and boost tax certainty.
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.
Among fresher job seekers, one in three believes AI will create more jobs.
Wipro is in the news, again. The information technology (IT) services company has mandated freshers, who had opted for a lower salary package of Rs 3.5 lakh per annum, instead of Rs 6.5 lakh per annum, clear a new training module titled Project Readiness Program (PRP) and score at least 60 per cent or stand terminated. Wipro is not the only company to have implemented such a programme.
The potential KPO delivery locations, including China, the Philippines and Sri Lanka, are unlikely to challenge India's dominant position in the market, but they have enabled many vendors to pursue a multi-shore strategy, it said.
Swaminathan D ('Swami' Swaminathan), the current COO and senior vice president of Infosys BPO, is now the CEO and MD.
Currently, the KPO market size is estimated to be about $5.5 billion and the sector is growing by about 15-17 per cent, dominated by professionals belonging to fields such as management, medical and engineering, the chamber said.
It took a good 18 years for Luminous Power Technologies to make its first Rs. 100 crore.
ating agency Crisil on Wednesday said it has signed an agreement to buy the business of US-based Knowledge Process Outsourcing Industry Pipal Research Corporation for $12.75 million.
Going by the adage 'necessity is the mother of invention', business process outsourcing knowledge process outsourcing units in Gujarat keep finding unique ways to cut cost amidst economic slowdown.
The company's operations will be carried out from its facility at Divyashree Park SEZ in Whitefield, Bangalore. Initially, the company plans to recruit about 20 persons to begin operations and gradually increase the strength to 150 to 200 by end of first year of operations depending on the projects to support Gensler requirements.
IT major Wipro Technologies and Gurgaon-based knowledge process outsourcing firm Copal Partners have expressed interest in bidding for the Indian back office business of Lehman Brothers Holdings, the US-based investment banking firm that filed for bankruptcy protection on Monday.
Among insurance companies, general and health insurers are the worst affected by the shortage. The business process outsourcing industry, particularly the niche knowledge process outsourcing companies, are the second biggest recruiters of actuaries today.
The US slowdown coupled with rupee appreciation, talent crunch and rising salaries, and the 2010 sunset clause on tax holiday for IT firms, is putting knowledge process outsourcing firms in a bind.
Nasscom estimates that the KPO industry is poised for a 45 per cent per annum growth till 2010. The current hotspots in KPO are engineering and design, basic data search, integration and management and biotech & pharma.
Infosys BPO, which started knowledge process outsourcing services as a part of its BPO offerings four years ago, is aiming to make Gurgaon the hub for its KPO business.
Person-to-person outsourcing gains currency with small offices and individuals.
Highlighting the continued growth story of India, the government today said the country is likely to capture 15 per cent of the over $54 billion market in the upcoming knowledge processing outsourcing (KPO) industry by 2010.
"These are unforeseen events and we do not see any further impact from other clients. We are in talks with both the seller and the purchaser, as the seller has mentioned our name in the list of critical services suppliers. The situation will be clear in a week," said P D Mundhra, executive director, eClerx Services.
A future as an actuary could see your fortunes multiply as opportunities open up in every sector. Already have a job? Not to worry, because you can do the course even while working
Unperturbed by the tax benefit restrictions proposed in this year's Budget for venture capital investments to certain sectors, US based VC fund New Enterprise Associates has lined up $200 million to be invested in the country.
Indian IT service providers are ready to step into the big league now and the trust developed in India for business process outsourcing and ITO is allowing a rich seam of knowledge process outsourcing to be tapped and developed, a leading IT expert said.
However, projections made over the last few years indicate a compound annual growth rate (CAGR) of 80-90 per cent. Research firm TPI believes this is "not easily achievable".
The size of knowledge process outsourcing industry, the high-end services entailed in business process outsourcing activities, has the potential to touch $16 billion by 2010 across the globe.
Large companies are targeting niche players in the market to add to their portfolio.
The Global Offshore Outsourcing Summit 2006, organised by the Indo-American Chamber of Commerce kicked off on Friday at the ITC Grand Central, Mumbai.
Fifteen Chinese companies are in talks with Indian information technology and telecom firms like Tatas, Cosmos and CMC for joint ventures in the sectors.
Supply side issues may yet trip up the growth story at the high end of the off-shoring business.
After the business process outsourcing and knowledge process outsourcing boom, the corporate sector in India is steadily gearing up for a new concept
The Indian business process outsourcing and knowledge process outsourcing industry is likely to witness as many as 100 mergers and acquisitions worth $3-5 billion from 2006 to 2010.
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