The top four Indian IT firms have cash reserves of nearly $15 billion with TCS alone holding $5.9 billion in reserves, followed by Infosys with $3.6 billion, and Wipro with $3.4 billion. HCL Technologies has cash reserves of $1.75 billion.
With automation taking place at a much faster pace across industries especially in the tech space, domestic software firms that employee over 16 million are set to slash headcounts by a massive 3 million by 2022, which will help them save a whopping $100 billion mostly in salaries annually, says a report. The domestic IT sector employs around 16 million, of them around 9 million are employed in low-skilled services and BPO roles, according to Nasscom. Of these 9 million low-skilled services and BPO roles, 30 per cent or around 3 million will be lost by 2022, principally driven by the impact of robot process automation or RPA. Roughly 0.7 million roles are expected to be replaced by RPA alone and the rest due to other technological upgrades and upskilling by the domestic IT players, while it the RPA will have the worst impact in the US with a loss of almost 1 million jobs, according to a Bank of America report on Wednesday.
The demand for Tharoor's removal comes days after the Parliamentary Standing Committee on Information and Technology was set to question government officials on the Pegasus spyware issue.
The pace of job generation has slowed as IT firms look at automation to do testing
Dnyaneshwar Nivrutti Bodke is a farmer who hates subsidies and loan waivers. He also helps other farmers turn into businessmen and earn good income from their own farms.
Indian rupee, which earlier this week touched an all-time low, is likely to remain under pressure and may test new levels as a fallout of the US Federal Reserve indicating more interest rate hikes, experts said. The aggressive rate hikes will dampen demand and increase the possibility of a recession in the US. This could accelerate the pace of capital outflows, weaken the rupee and raise the threat of imported inflation.
Tata Consultancy Services (TCS) has been ranked the third most-valued IT services brand globally, after Accenture and IBM, according to a report by Brand Finance. Four Indian IT services companies -- TCS, Infosys, HCL and Wipro -- secured spots in the top-10 global tally.
Where do Indian IT firms stand compared to their global peers in this journey of transformation? Ayan Pramanik seeks answers from IT services analyst Phil Fersht.
Sector experts say rising pressure on margins owing to price discounts on the core business, increased hiring in the US and emergence of new technology areas are key reasons for such cost cutting.
The total amount of fraud reported by banks showed a drop in 2020-21 - for the first time in eight years - though there is an emerging trend of private sector banks reporting a larger number of frauds related to card and internet banking. According to the latest data released by the Reserve Bank of India, commercial banks reported Rs 1.38 trillion of frauds in 2020-21, as compared to Rs 1.85 trillion in the previous year. The first half of the current fiscal year saw banks reporting frauds worth Rs 36,342 crore.
In the last couple of months, top Indian IT services providers, including TCS, Infosys, Wipro and HCL Tech have announced setting up cyber threat management centres in the US and Europe.
Cognizant jumps 13 ranks to become 4th most valued.
Colleges are witnessing more offers, with better salary packages. Median salary packages offered have improved over last year.
Tata Consultancy Services (TCS) is likely to maintain its leadership position over the next three years backed by a strong and satisfied client base.
The analyst community tracking the Indian IT services industry took special note of Accenture's first quarter (Q1) performance, which showcased the rapid growth of its consulting business that outperformed its outsourcing business. Bookings indicate that the trend will continue. Consulting bookings increased 41.6 per cent year-on-year (yoy) to $9.4 billion, higher than the 17.6 per cent growth in outsourcing to $7.4 billion. The management commentary was also more bullish on the consulting business.
The NCW has written to the Delhi Police to expedite its action in the case against the 'Bulli Bai' app, floated for trolling and harassing the victims, to ensure that such crimes do not recur.
The Delhi police on Sunday registered a case based on a complaint filed by a woman journalist alleging that she was being targetted by an unidentified group of people on a mobile application named 'Bulli Bai' created on GitHub platform.
Ambassador Pankaj Sharma, Permanent Representative of India to the Conference on Disarmament (CD), Geneva, said India has been drawing the attention of the world towards these threats and the need to strengthen international cooperation to address them through its annual consensus UNGA resolution titled 'Measures to prevent terrorists from acquiring weapons of mass destruction'.
The committee has shared an online form consisting of 11 questions seeking comments of lay persons until March 31.
The Supreme Court on Monday termed as 'amazing' and 'shocking' that people are still being booked under the Section 66A of the Information Technology Act, which was scrapped by the apex court verdict in 2015.
Considering the June quarter numbers have been softer, as compared to the past quarters, and the overall macro environment is yet again under a cloud, Indian IT services should seriously look at the new normal
The issue arose after TCS dismissed hundreds of employees in January 2015, leading to the formation of the IT Employees Wing supported by the NDLF.
BSE Bankex, Healthcare, Capital Goods and Consumer Durables ended higher.
The highest compensation package for the Global MBA class at the S P Jain School of Management stood at Rs 43.9 lakh while that for the MGB programme was Rs 35 lakh.
Infosys Technologies' fourth-quarter results have been poorly received. The bellwether stock has taken a severe beating, bringing the markets down with it.
An ostensible reason for the demerger was the low profitability of the non-IT business, which was a drag on Wipro's bottom line. It accounts for 14 per cent of the company's turnover but only 6 per cent of its operating profit.
It's the second time Nasscom has projected single-digit growth in a decade.
Both companies, along with three others, were suspended in 2010 on grounds of irregularities.
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.
Is Bangalore, India's Silicon Valley and home for some of the biggest information technology firms in the country, slowly losing out to Chennai? It seems so, considering the investment plans of leading IT companies.
Software leaders are quite robust.
Sikka ranks 35th in the list.
Blame it on improved business climate, restructuring within companies or just the basic need to pursue better opportunities -- the Indian information technology industry is seeing heavy churn at the top.
The information technology sector in West Bengal is likely to see addition of 20,000 jobs in 2008. The state currently has about 300 small to big sized companies and employs 55,000.
Shortly after the twin earthquake-tsunami that hit Japan, Indian IT firms had started calling back employees.
Infosys is looking for acquisitions but for innovative reasons instead of revenue priorities.
Headhunters and industry veterans reckon that as the job market opens up, the demand for non-engineering and other non-technical students is expected to be more than that was seen in the previous years.
Data privacy, he said, is a broader argument beyond Aadhaar as it includes everything such as issues related to mobile phones and social media data.
W12 Studios will be part of TCS Interactive, further strengthening the already impressive array of creative and experience services it offers
