There's a churn in Infosys' highest paid senior executives' list for financial year 2007-08, with Nandan Nilekani, S Gopalakrishnan and S D Shibulal conspicuously missing from the top five.According to a filing by IT bellwether to the US Securities and Exchange Commission, B G Srinivas, Ashok Vemuri and T V Mohandas Pai were the highest paid executives in FY08.
With the festival of lights just around the corner, things this year are looking brighter and sweeter for the software majors compared to one that went by, when they were struggling to grapple with the effects of the global meltdown.
The software major has plans to invest Rs 500 crore at Kolkata campus that will create employment for 5,000 professionals. The company is yet to get possession of 90 acres of land assured by the state government. West Bengal Chief Minister Buddhadeb Bhattacharjee on Thursday said that Infosys had shown apprehension about investing in the state following recent incidents in Singur where Trinamool Congress has been agitating against acquisition of farmland by the state governme
Infosys, the country's third largest software firm, on Thursday said it was undecided on going ahead with investment plans in West Bengal, where socio-political opposition has thrown Tata Motors' Nano project into uncertainty.
The impact of the global meltdown has forced India's second largest IT bellwether Infosys Technologies to freeze wage hikes and hiring in new fiscal 2009-10.
The IT major has earmarked $4 million for this purpose.
"I think the people, who have been joining in the last one-two years, have a feeling of restlessness among them," T V Mohandas Pai, who is in charge of human resources at the Bangalore-headquartered Nasdaq-listed firm, said.
Pai, a highflier in the software giant (he is still just under 50), has a zen for cities. As human resources head of Infosys he is constantly scouting around in India for newer destinations where the company can set up shop to beat rising costs. And he is all the time benchmarking these against the worlds great cities to develop an agenda for change and betterment.
The Tata Sons controversy has raised governance concerns. Arun Duggal and Mohandas Pai on the role of independent directors in such conflict situations.
The IT jobs market will, however, not be the same as it was two years ago but will also not be as bad as it was last year, Pai said, adding the fresher-lateral hiring ratio is likely to be around 65:35 per cent this year.
Infosys is boosting its investments in training by more than two-and-half-times to Rs 1,600 crore (Rs 16 billion) besides adding to the seating capacity, as scramble for talent in the industry gains further momentum.
Hyderabad has possibly the best infrastructure for IT in India today, says Infosys chief financial officer T V Mohandas Pai.
IT major Infosys Technologies Ltd on Thursday said that it would invest Rs 800 crore more during the current fiscal.
Wage hikes in both information technology and BPO sector is not likely to see any moderation from next year but would continue to grow at the current rate of 12-15 per cent annually, a senior Infosys Technologies official said.
Infosys on Wednesday came down heavily on the special economic zone concept, stating that it is against small companies and this can stifle innovation.
The company said in a filing to the US Securities and Exchange Commission that in addition to the salary, Pai earned a bonus/incentive of $117,336, other annual compensation of $21,779 and $15,287 as long-term benefits.
Infosys directors - N R Narayana Murthy, Nandan Nilekani, T V Mohandas Pai (head of HR) and five others - have collectively offered 1.3 crores
IT major Infosys Technologies is all set to expand its operations in Hyderabad with a second campus that would come up in 550 acres with an investment of Rs 1,250 crore (Rs 12.50 billion) over the next ten years.
The P V Narasimha Rao government in the 1990s had been on the verge of bringing to India the ashes, believed to be the mortal remains of Subhas Chandra Bose now kept at the Renkoji Temple in Japan, but was dissuaded from doing so due to an intelligence report.
A person who invested Rs 95 per share in 1993 in Infosys would have seen his share value at Rs 80,000 in just a decade.
Bollywood megastar Amitabh Bachchan and Prince Karim Aga Khan were among the eminent personalities awarded the Padma Vibhushan, country's second highest civilian honour, by President Pranab Mukherjee in New Delhi on Wednesday.
The Chinese investor in the parent firm of Koo, India's answer to Twitter, is on its way out after other investors have pledged to buy out its 9 per cent stake, Koo's co-founder and CEO Aprameya Radhakrishna said.
The National Stock Exchange (NSE) has got into firefighting mode to control the reputational damage caused by the Securities and Exchange Board of India's (Sebi's) order against its former managing director and chief executive officer Chitra Ramkrishna and others. According to sources, the exchange's management over the past one week has met several key stakeholders, including officials in the finance ministry and Sebi, major shareholders, and trading members, trying to distance itself from the controversy. The exchange plans to hold more meetings in the coming week to ensure that trading volumes and confidence in the bourse don't get impacted, they added.
'Because of the failure of the UPA era (2004-14), we will add another 10 crore by 2025...total 20 crore in the 21-45 age group with low skills, low education.'
Social media platform Twitter is learnt to have written to the government that it is in advanced stages of finalising chief compliance officer as per the new IT rules and additional details will be submitted to the government within a week, according to an official source.
Describing Murthy as a business icon, T V Mohandas Pai, former CFO of Infosys, said he is more than eminently suited to hold the position of Chairman Emeritus.
Refutes claims of differences between board, founders and Sikka; board needs to do better scrutiny, says Mohandas Pai.
'Anyone on Indian Twitter, Facebook, or any of the other forms of social media that matter (except elite forums like Instagram) understands instantly that it is dominated by upper-caste North Indian men.' 'Other voices are silenced and attacked,' says Mihir S Sharma.
India's consumer digital economy which was pegged at $85-90 billion in calendar year 2020, is expected to become a $800 billion market by 2030, according to reports released by consulting firm RedSeer at its flagship event Ground Zero 5.0. The digital economy includes 60 per cent of travel, 40 per cent non-grocery retail, 30 per cent of education, 25 per cent of food and beverages services and 6 per cent of pharma/grocery going through digital channels by calendar year 2030. Online retail is set to become the third-largest market by scale by CY30 with an annual gross merchandise value (GMV) of $350 billion in CY30, said RedSeer.
The move comes after CBI gets sanction to prosecute him in Aircel-Maxis case
The tax portal problem is a goof-up by both sides, and making Infosys the only villain in the story is quite unfair, argues Shyamal Majumdar.
Karnataka government directing the foundation to include garlic and onion in the food.
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