Old economy companies such as Hero, M&M (Tech Mahindra), Aditya Birla, Essar, Hindujas and Larsen & Toubro have sprung into action with large acquisitions and major deals.
Bhasin will now take over as a non-executive vice-chairman of the company.
India's business process outsourcing industry will soon be edged out by the emerging knowledge processing or KPO sector as the biggest revenue grosser, according to an industry expert.
The Mumbai terror attacks have once again put Indian IT and business process outsourcing firms on high alert. Over the next four to five weeks, many of these firms plan to meet or video-conference with their clients to update them of the country's security scenario.
With the revival of the job market India Inc is all set to witness a significant jump in attrition levels as well, especially in sectors like aviation, information technology and business process outsourcing, executives search firm GlobalHunt India said on Monday.
The current sub-prime crisis, in the medium-to-long term period, will accelerate global sourcing adoption as financial institutions are exercising the option to cut costs. The institute predicts that outsourcing from the financial services sector have the potential to increase 40-45 times the current market size over the next five years, with key drivers of growth coming from cost pressures and the timely advent of more vertical-specific offerings by offshore suppliers.
The success of IT highlights the importance of opening up and integrating our economy with the world economy.
They remain a popular choice for the young generation and offer numerous job opportunities for graduates from various backgrounds.
Exult Inc, a US-based firm that provides human resources services to companies, is setting up a business process outsourcing unit in Mumbai to service overseas clients, a senior official said.
"The (tax) exception given to BPOs has to be withdrawn under section 10 (A) of Income Tax Act. There is no provision in DTC for any such extension of benefits," tax expert and International Fiscal Association of India Branch Chairman T P Oswal told PTI.
Transtek, a city-based healthcare business process outsourcing organisation, on Saturday launched medical transcription training for the blind for the first time in India.
The Supreme Court will hear the issue related to taxing of business processing outsourcing units of multinationals in the country on February 13.
UTI Venture Funds and TDA Capital Partners have invested $2.3 million for a minority stake in RevIT Systems Private Limited and its subsidiary, Sherpa Business Solutions, a healthcare and publishing BPO company, based in Chennai.
The growth of online advertising in the United States is opening up new avenues for Indian business process outsourcing companies.
Payal Tak, CEO of Telesis Corp, a US-based company providing IT services to the US government, will start academic courses for call centre employees.
Forbes.com editor Paul Maidment says other English-speaking countries are starting to erode India's cost advantage and the Philippines is becoming a serious competitor.\n
India has been named as the top country for delivery of offshore Business Process Outsourcing services among large companies.
US-based buyout fund Carlyle, Providence Equity Partners, Warburg Pincus and Blackstone are understood to be exploring a buyout of Temasek's holding in Mumbai-based pure-play business process outsourcing firm Firstsource. The news triggered the company's share price to rise 6.76 per cent on the Bombay Stock Exchange (BSE) to close at Rs 43.45 on Tuesday. Warburg Pincus has a stake in WNS, a BPO company, while Blackstone has a majority stake in Intelenet.
With better infrastructure and quality human talent, Chennai fares better than Bangalore in attracting new investments from business process outsourcing and software firms
ICICI OneSource, India's leading business process outsourcing on Tuesday announced the commencement of operations at its 400-seat facility in Buenos Aires, Argentina.
Gripped by despair after being handed out pink slips, IT professionals now have help at hand with a group of concerned fellow professionals hosting a website to help them.
EXLService Holdings, Nasdaq-listed business process outsourcing unit, posted a 77 per cent year-on-year fall in its net income for the quarter ended June 30, besides reporting a foreign exchange loss of about Rs 8 crore (Rs 80 million). Rohit Kapoor, the BPO's CEO and president, spoke to Kirtika Suneja on the road ahead in these challenging times.
India, the uncrowned king of the business process outsourcing world, may be in for some rough ride with national and international studies pointing at competition from a range of countries including China
Nasscom plans to introduce by this year-end a common certification in terms of skills and knowledge, that matches industry requirement.
Karnataka will promote secondary cities, including Mysore and Mangalore, as information technology destinations, even as the state is gearing up to provide employment to an additional 40,000 personnel in IT sector.
Zubin Dubash, currently working as executive director with Indian Hotels Company Ltd, will join WNS Global Services, a business process outsourcing company, as its group chief financial officer.
India's second-largest IT services firm, Infosys Technologies, has set up a separate unit within its business process outsourcing arm (Infosys BPO) to concentrate solely on the domestic BPO market.
The Tata Group has decided to defer its plan of setting up a rural business process outsourcing unit near the proposed steel plant at Kalinganagar in Orissa by two years.
Overall, the survey shows that salary increases across industries at 14.8 per cent are roughly the same as last year (14.5 per cent).
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