The study comes on the heels of US President Barack Obama ending tax incentives to US companies that move jobs outside the country.
With the US dollar poised to go below Rs 38 mark, the future looks bleak for the small infotech companies. Even as the nearly $40 billion information technology industry is still trying to stabilise itself from the impact of the rupee exchange fluctuation, since most of their business comes from overseas, the roots of smaller companies have been shaken further.
Foreign firms that have made huge investments in China to take advantage of its cheap labour resources watched warily as Japanese car major Honda struggled to open its plants even a week after workers resorted to a flash strike.
This Diwali, Rakesh Mehta, a senior sales and marketing employee with an IT firm, will celebrate in Australia with his family. Mehta, is one of the top performers of his company and has been rewarded with this 'Diwali Gift'. Other top performers from his company will celebrate their Diwali in New Zealand and Mauritius. In fact, a lot of IT, BPO, pharma companies and banks are rewarding their employees for good performance by sending them to exotic locations.
Some new sectors in which the commerce ministry has proposed to allow foreign direct investment (FDI) are credit information companies and commodity exchanges. The ministry is in favour of allowing up to 49 per cent FDI proposed in both these sectors. In proposing to open up the commodity sector, the ministry has said that FII investment be limited to 24 per cent, with a condition that a foreign investor cannot hold more than 10 per cent equity in the investing companies
Patil, the first Indian Head of State to visit China in a decade, took up the issue of the growing trade imbalance.
Some of the Indian groups have set up holding companies with investments in agricultural and food processing land as far away as Africa, as well as within the region, in Cambodia and Vietnam.
The petition filed by a host of GSM operators along with COAI also sought quashing of department of telecommunication's decision, dated October 19, to allow enhanced subscriber-linked criterion for spectrum allocation. They also sought non-implementation of these decisions terming them unfair, unjust, illegal, arbitrary and violative of level-playing field and principles of natural justice.
Seeking greater cooperation with India, Russia's Tomsk city in Siberia on Friday invited Indian hi-tech companies to establish innovative ventures in the region.
US Treasury Secretary Timothy Geithner has sought level playing field for American companies in China.
The Association of Basic Telecom Operators has asked the telecom regulator to make access deficit charge available to all private basic operators for sustainability of fixed line business.
OVL, IOC and OIL explored for oil and gas in Farsi block.
South-east Asian countries are emerging as preferable destination for India's pharma companies to expand their business as they share similar patient population and disease profile and moreover, have a conducive environment for their operations like easy market approach without any regulatory uncertainty, the survey of Indian pharma firms highlighted.
Rising real estate costs and lack of good locations in cities are driving hotel companies to rent space in malls and other commercial complexes. For instance, Accor Hotels is in talks with mall developers to build its Formulae 1 brand of budget hotels at the topfloor of malls in tier I and tier II cities.
Chinese telecom companies operating in India said there is no justification for India's security concerns about their equipment and the current de facto restrictions smell more of commercial fears, chinese news site globaltimes.cn reported on Monday.
Several Indian fertiliser companies are in talks with foreign firms to set up production units jointly, the government said.
The m-cap of ITC slumped Rs 19,958 cr to Rs 2,58,300 cr, taking the steepest hit among the top-10 firms
Indian IT firms have been announcing incremental increase in billing rates for quite some time now to counter wage hikes and rising visa costs, to name a few.
A sluggish economy and stalled bureaucratic decision-making for the past two years thwarted capital investment and dented earnings, making it tough for the companies to raise funds.
Indian Oil Corp, the nation's largest fuel retailer, positioned adequate stocks of all petroleum products -- petrol, diesel, kerosene and LPG in the state.
Data released by the Life Insurance Council reveals that the total pension premium for the life insurance industry saw a growth of 159 per cent at Rs 22,268 crore (Rs 222.68 billion) for FY07 compared with Rs 8,568 crore (Rs 85.68 billion) in FY06.
Over the past week, the BSE benchmark Sensex rose 319.49 points to end at 25,838.71
The finance ministry is likely to prescribe the minimum 25 per cent public holding for listed companies next month.
IPA had said many of the patent claims made by multinationals do not necessarily enhance the efficacy of previously known drugs.
The two firms are discussing bidding jointly for CGD projects in cities that would be put on offer by the sector regulator, Petroleum and Natural Gas Regulatory Board in the future.
Thirty-one Indian companies, under the aegis of Electronics and Computer Software Export Promotion Council, will showcase their capabilities at the Gitex Dubai 2007, the largest IT show in the region.
'Indian companies are increasingly investing in research and looking at ways they can leverage their India advantage,'Wockhardt Chairman Habil Khorakiwala tells Priya Ganapati.
Budget may allow use of advance-pricing agreements for past cases.
As many as nine companies which suffered the brunt of the economic crisis and were bailed out by the government -- including Citigroup and Goldman Sachs -- are among the least reputed companies in the US, a study said.
Upbeat on the rapidly evolving entrepreneurial environment in the country, Cisco has created a $40 million (over Rs 240 crore) fund, a first by the networking solutions giant in any of its present geographies.
A tax authority has ruled that Mauritius-based companies will have not have to pay capital gains tax in the country, a decision that will encourage global business entities to route investment from the island nation.
Analysts see a silver lining in banking.
Visa and 20 insurance companies in India have joined forces to make paying life and general insurance premiums "faster and easier" through a range of new payment options for Visa cardholders
Hyderabad-based pharma company Hetero Drugs Ltd said on Monday that it had been chosen by the Clinton Research Foundation as one of the four Indian pharmaceutical companies.
The government has put the process of certification of foreign cement manufacturers on a fast track to facilitate import of the building material in the country to meet the growing demand and tame prices.
The director general of investigations and registration, in its 30-page report submitted to MRTPC, said that industry body CMA was instrumental in fixing prices in the sector.
Multinational companies like Shell, Caltex, Elf and SHV that have been attracted by the huge possibility to market Liquified Petroleum Gas in India are these days waiting for their chance.
The Indian Institute of Management, Bangalore has achieved 100 per cent placement for its batch of 270 students this year within five days, with the highest number of offers being made in the financial sector followed by the consulting sector.
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