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.
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.
IT services firm HCLTech on Monday reported a 11.2 per cent decline in consolidated net profit to Rs 4,076 crore in the October-December quarter of FY26.
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
Wipro has emerged as the leader followed by HCL , Patni, Infosys , Mahindra Satyam and MindTree in the rating of global R&D service providers across various countries like India, China, Russia and Eastern Europe, according to a study.
IT major Wipro on Monday said it has been ranked as a leader in the global R&D service provider survey by Zinnov Management Consulting for the fourth successive year.
Nasdaq-listed Cognizant Technology Solutions has signed a definitive agreement to acquire global engineering company Belcan for about $1.3 billion (Rs 10,853.7 crore) in cash and stock. The transaction is expected to close in the September quarter. The total consideration includes $1.19 billion (Rs 9,935.31 crore) in cash and 1.47 million Cognizant shares, valued at $97 million (Rs 809.53 crore) based on the information technology services provider's closing share price on June 7, 2024.
Morgan Stanley has increased the target prices of certain information technology (IT) stocks by as much as 29 per cent, anticipating an improvement in earnings in the near future. Within the IT and engineering research and development (ER&D) services sector, it is now more optimistic about growth and margin estimates for 2024-25 (FY25).
The July-September quarter results of software companies in the engineering research and development (ER&D) segment were broadly in line with expectations, though there have been cuts in revenue growth guidance. While results were a mixed bag, and there are cautionary views on the near-term outlook, brokerages and global consulting firms highlight the strong growth trajectory for the sector. They expect this segment of the software sector to grow by 8-12 per cent going forward.
Indian IT services firm Infosys and Rolls-Royce, an aerospace and defence technology major, on Wednesday announced signing a strategic partnership for sourcing engineering and R&D Services for the latter's Civil Aerospace business. As part of the overall partnership, Rolls-Royce will "transition a significant part of its engineering centre capabilities for civil aerospace in Bengaluru to Infosys", a statement said. However, the number of people who will move to Infosys was not disclosed.
'There is so much talk about Netflix and what they should be doing.' 'In two years, SonyLIV has done what Netflix should be doing.'
Shares of HCL Tech hit a fresh record high of Rs 1,118.55 on Friday, up 2 per cent on the BSE in intra-day trade, surpassing its previous high of Rs 1,101 touched on Thursday in intra-day deals.
For Paris-headquartered IT services major Capgemini, India has always been the backbone of its services delivery for its global clients, but the company is focused on driving more value from India as it gears up its engineering research and development (R&D) presence worldwide with its acquisition of Altran Technologies. The company, which has about 149,000 employees in India, is looking to hire 60,000 associates this year. Of them, 30,000 will be recruits from campuses and the rest lateral entrants. For Ashwin Yardi, chief executive officer India, Capgemini, the focus is to make sure that the India unit is aligned with the global plans of repositioning the company as a hub of engineering R&D, operational technology, and IT.
India will witness its first major cricket tournament in the country since the COVID-19 disruption when the Syed Mushtaq Ali Trophy begins the much-delayed domestic season from Sunday, presenting a platform for the hopefuls to impress before the Indian Premier League players' auction.
Indian offshore engineering research and development (ER&D) services market is expected to reach USD 37-45 billion by 2020 and create over one million jobs, software industry body Nasscom said.
A leading software R&D service provider to technology companies, GlobalLogic has partnered with Appcelerator, to use Appcelerator Titanium application for creating innovative cloud-connected mobile apps for their 1,000 global customers.
Samant said he has been into R&D for the past 24 years and before joining GlobalLogic, he was president at Ness Technologies and had worked at Hewlett-Packard lab in India and also has worked at IBM labs.
Automotive, healthcare, industrial verticals drive captive centre growth in India, says Zinnov report
According to Nasscom, engineering services exports had grown at 13 per cent in 2017 compared to six per cent rise in IT services exports and eight per cent in business process management (BPM). It had also recorded the highest growth in the last three years, reports Debasis Mohapatra.
Book a rail ticket online and get it delivered at home.
Ashok Soota, founder chairman of MindTree, who recently left the company he co-founded in 1999, is preparing the grounds for his new venture.
It has apparent "negative connotations" in some mature markets such as the US.
Clarifies 'profit-split' will not be only method to compute tax
As the government faces a difficult choice in keeping up with the rest of the world in AI development while making sure it does not add to unemployment, it has set up a task force to draw up a policy for the accelerated deployment of AI
This year, MindTree improved from 68th in 2007 and has been ranked 54th, while also being named one of the 20 best companies by services offered in the category of product research, development and manufacture. The list is published in May 5 issue of Fortune magazine. Winners were chosen through an evaluation process that considers four key criteria -- size and growth in revenue, employees, development centres and countries served customer experience.
"Many people have to be tended here. I have an organic feel to MindTree. A gardener's job is never over," Bagchi told the media, adding that his new role was apt given MindTree's history. Information technology (IT) firms of late have been introducing catchy designations like 'Chief Fun Officer', 'Chief Happiness Officer', and even 'Chief Energising Officer' as they revamp their organisations and the roles of some of their senior executives.
The enactment of Lokpal and Lokayuktas Act will help the Central Vigilance Commission work in an independent and assertive manner, the government said on Wednesday.
Wipro said recently it was expecting its revenue growth to drop 2.33 per cent or stay flat between $2,015 and $2065 million.
The company will grow better than the industry
Notebooks sales surge; peripherals market vibrant; Q4 sales expected to be buoyant.
Microsoft chairman and chief software architect Bill Gates will inaugurate the Digital Lifestyle 2005 to be organised in Bangalore by MAIT, the apex body representing the hardware, training and R&D services sectors of the IT industry in India.
The six service lines that Infosys is focusing on include manufacturing, retail, consumer packaged goods, logistics, lifescience, energy, communications, financial services and insurance.
According to MAIT, the apex body representing India's IT hardware industry, training and R&D services sectors, tablet sales in 2012-13 stood at 1.9 million units as against 0.36 million units in 2011-12 witnessing a growth of 427 per cent.
India's fourth largest software services provider HCL Technologies on Friday reported 32.3 per cent rise in consolidated net profit at Rs 1,873 crore (Rs 18.73 billion) for the first quarter ended September 30 on the back of strong growth in Europe and business services.
Top ten billionaires in India.
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