The Philippines has become the BPO capital of the world, overtaking India as the number one player in the global business outsourcing market.
The recent ruling by the Authority of Advance Rulings making back-office services provided by a company to global firms taxable under GST, has sent shockwaves through the information technology and business process outsourcing industry.
The phased reopening and regulated relaxations of many key industries have paved the way for a slight recovery in hiring activities but hiring is still down by 47 per cent in July 2020 compared to the same month last year.
Though there have been no cancellations of contracts by invoking the force majeure clause, a number of clients - especially in the worst-affected sectors like travel and hospitality, oil and gas, as well as manufacturing - have started asking for reducing level of IT support.
Now in its ninth year, the annual NOA Awards recognise best practices in outsourcing projects, the city-headquartered company said.
Aditya Bafna, MD, CEO, Seva Group explains how a healthy and mindful habits can help improve productivity at the workplace.
Union Minister Jitendra Singh was briefed about this and other activities being done at the Lal Bahadur Shastri National Academy of Administration (LBSNAA) for the training of bureaucrats on COVID-19 related issues during a video conference with the director and faculty of the premier institution.
According to experts in human resources, even joining of new graduates is likely to be staggered as companies are expected to onboard staffers after gauging the demand scenario.
The pandemic has confined students across all ages to home and digital education is the only way to continue learning.
The government is also planning to set up specialised Benches for competition law to reduce the burden of the appellate tribunal, which is referred to on all matters from company law and IBC to competition law and the national financial reporting authority.
Top Indian IT firms, such as TCS, Infosys, and Wipro, have signalled taking aggressive cost take-out measures, including reduction in sub-contracting costs, travel expenses, freeze in salary hikes, and holding back variable payments, among others.
On Tuesday, UK-based Standard Chartered's outsourcing of key banking jobs to India came under the lens of US authorities.
Most Indian IT firms work as system integrators for Huawei and though the exposure is very less as of now, the potential is more due to 5G roll out. As pressure to keep the Chinese firm out of the 5G network grows, other global firms, including Japan's NEC, South Korea's Samsung, Finland's Nokia and Sweden's Ericssion are increasing their investments to grab more market share in the telecom sector.
He also said automation, machine-learning, artificial intelligence and bots are happening, both in the software and business process outsourcing sector
The first spending item on the chopping block is capital expenditure, followed by operating costs and overheads, including sales and marketing expenses.
Sebi's stewardship code for mutual funds and alternative investment funds lays down six principles to improve corporate governance standards in their investee companies, reports Jash Kriplani.
Canada and Mexico emerge as preferred destinations to service clients in the US; east Europe and Nordic nations are favoured alternatives
The business process outsourcing (BPO) sector in the Asia-Pacific region will touch $9.5 billion in 2016, up from $5.9 billion in 2011, according to Gartner.
Availability of jobs at India's auto companies has shrunk significantly over the last two years, as the industry goes through one of its worst slowdowns. More than 60 per cent of the total workforce fell by 24 per cent in 2019-20, against 2017-18.
'By November 2020, men recovered most of their lost jobs, but women were less fortunate: 49 per cent of the job losses by November were of women.' 'The recovery has benefited all, but it benefited women less than it did men,' notes Mahesh Vyas.
Bags long-term outsourcing deal from Allied Irish Banks
Auto major plans to cut technology outsourcing from 90 to 10 per #162 TCS, Wipro, others could be at receiving end
Experts are of the opinion that though digital services hold the future, the companies are likely to take a hit during the transition period.
Bandhan expects to commence banking operations in 2015, by opening nearly 600 branches targeting 10 million customers.
The proposed annual quota for Indian companies could be between 10 and 15 per cent. Currently, there are no country-specific limits on H-1B allotment.
New Delhi has made it clear that any blow to its outsourcing industry would make the country less receptive to helping American companies that run into trouble in India
Kovind has also decided to defer purchase of the Presidential Limousine which was to be used for ceremonial occasions. 'The existing resources of the Rashtrapati Bhavan and the government will be shared and used for such occasions,' a communique said.
Lokendra Tomar, chief operating officer of India's largest integrated KPO, Integreon, talks about career opportunities for young grads in the sector.
US President Barack Obama had earlier said that the companies which provide jobs at home would get bigger tax breaks.
Abuse, often racial in nature, happens daily.
Indian IT companies are undeterred by talks of a US slowdown.
China poses the biggest challenge to India's IT outsourcing industry, which is expected to grow by an average 15 per cent over the next two years, according to the chief executive of India's biggest business processing outsourcer.
The regulator has asked portfolio managers not to leverage the portfolio of clients for investment in derivatives and not indulge in speculative transactions that are not accompanied by actual delivery, except for derivatives trades. This is done with the intention of reducing volatility in the market and curbing undue risks.
While Team Indus had backing from Nandan Nilekani, Ratan Tata and Flipkart founders Sachin and Binny Bansal, it could not even muster half of the Rs 4.5 billion it required for the mission to the moon.
Of the 200 to 250 students who enroll in a graduate language course at Doon University annually, nearly all are assured placement in a range of companies like Amazon (France), AXA Insurance, Oracle and Capgemini.
Though no peripheral burning is taking place at the moment at the well's site at Baghjan, the company has declared an area up to 1.5 km radius as "red zone" to avoid any untoward incident and harm to the general public.
'Young people are digital natives.' 'Hence, their ability to learn coding and to become a full stack engineer is far more.' 'The demand for such people is more as we feel that if we hire people from campuses, we can train them to become what we want.'
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