Prime Minister Manmohan Singh has asked the Finance Ministry to remove a flaw in the tax laws, which would help IT/ITeS SEZs, even as the government is considering relaxing rules for tax-free enclaves across sectors on sales in the domestic market.
However, the board of approval in the commerce ministry asked the DLF to return all the tax sops it had taken from the Centre before its SEZs in Gujarat, West Bengal, Orissa and Haryana could be denotified. The BoA, headed by commerce secretary G K Pillai, also allowed more time to the K Raheja group to build its tax-free zones in Goa, Hyderabad and Navi Mumbai, an official said.
Despite the slowdown and the poll debacle state IT minister is still upbeat about attracting investments in the IT sector.
"There would be some resetting of expectations", president of Nasscom, Som Mittal, said on the sidelines of 'TiE Entrepreneurial Summit 2008 (TES 2008)' in Bangalore. He indicated that the Nasscom would come out with a clear view vis-a-vis the growth forecast in Junuary first week, saying 'it may happen before the quarterly results start coming out'.
The study, the details of which the company executives highlighted here on Thursday said, an average employee fritters away 5.3 hours in a week in doing internet surfing, not related to business. The employee productivity loss in manufacturing was 4.2 hours/week, said the report.
Rajasthan's chief minister Vasundhara Raje on Wednesday laid the foundation stone for setting up an IT/ITES SEZ by Somani Worsted Ltd and manufacturing facilities of Jaquar Ltd and Orient Craft Ltd in Bhiwadi. Digamber Singh, Rajasthan's minister of industries, was also present on the occasion.
According to ESC's Eastern Region Chairman S Radhakrishnan 20 IT/ITes non-competing companies located in New York and Chicago would be handled in the first phase. Each year, the expenditure for such centres would be about Rs 2.5 crore (Rs 25 million) and run for three years, Radhakrishnan told reporters in Kolkata on Wednesday.
The report is based on data collated from 5 large angel groups.
A time has thus come when state encouragement for rural students led to empowerment of the socio-economically marginalised sections of the population. It included women. Today, with greater exposure and consequent enlightenment, it has gone beyond 'empowerment' to become 'entitlement', says N Sathiya Moorthy.
HR managers are resorting to innovative ways to harness and retain talent as the market is witnessing demand-supply constraints.
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).
Genpact opens offices in Kolkata on 700,000 sq.ft of land and plans to employ 7000 people.
Visakhapatnam is one of the fast-emerging tier III cities of India and is in a position to be the next IT destination in Andhra Pradesh. Availability of skilled labour, infrastructure, and comparatively cost-effective real estate in the city makes Vizag the next emerging IT-ITeS hub after Hyderabad. It is expected to be one of the next growth drivers over the decade, according to Jones Lang LaSalle Meghraj (JLLM).
Having cleared over 200 special economic zone proposals, the Board of Approval will take up 46 fresh cases on Friday.
Gujarat may have missed the IT/ITES bus earlier, but the two upcoming IT/ITES SEZs by K Raheja Corp and DLF are all set to drive the growth of the industry here. As many as 50 companies are likely to set up shops in the two parks coming up in Gandhinagar.
The decision was taken by an inter-ministerial Board of Approval.
Said CII southern region chairman P K Mohapatra, "Though the construction industry employs about 31 million people, second only to the agriculture sector, the workforce requirement is about 5 million people every year over the next seven years to eight years to sustain the present 8 per cent growth rate."
The Indian IT and IT-enabled services industry is expected to grow at 10.8 per cent in 2009, the lowest in the last five years, due to the global economic meltdown, a report said.
The Rajasthan Venture Capital Fund (RVCF), which has a corpus of Rs 100 crore (Rs 1 billion), would focus on innovative projects in the small and medium enterprises (SME) segment, such as the IT/ITeS, bio-technology, retail, tourism, hospitality and entertainment sectors.
The Janata Dal (S)-BJP coalition government in Karnataka is under fire for banning women from working on the night shift.
Under its IT/ITeS SEZ development plan, Electronic Corporation of Tamil Nadu (Elcot) is setting up nine IT SEZs in Tamil Nadu, developing 1 million sq ft space at an estimated cost of Rs 28,000-30,000 crore (Rs 280-300 billion) - one each at Perumbakkam village and Sholinganallur near Chennai, two in Madurai, and one each at Tiruchirapalli (Trichy), Krishnagiri, Salem, Coimbatore and Tirunelveli.
As you move higher up the corporate ladder, there is a growing need for you to at least gain a fair amount of proficiency in areas other than your core competency. And that's where certification programmes come in.
Parsvnath SEZ Ltd -- the subsidiary of Parsvnath Developers -- now has two notified SEZs for IT/ITES sectors at Indore and Gurgaon with a combined developable area of over 16 million square feet.
The $108 billion Indian IT-ITeS industry is also witnessing the rise of tier II and III cities like Kochi, Ahmedabad and Kolkata as product hubs.
Breastfeeding facility at the workplace is a major concern for new mothers, says survey.
Indian real estate is benefitting from the integration of global architecture and design firms. What is driving this trend?
Currently, the US contributes 40-45 per cent of the total IT/ITeS outsourcing and offshoring business in India and is the single largest market for India's IT/ITeS business. The real estate sector's growth is fuelled by demand. In India, the demand is derived mainly through shift in global economic conditions. Thus any change in the real economy will have an impact on the physical real estate (construction or ready office space) market.
Around 35 per cent of Bangalore's corporate citizens fall in the medium health risk category and are likely to be affected by at least one among the ailments like hypertension, diabetes and cardiac disorders, a health study indicated.
Golf Course Road in Gurgaon symbolises smart new India like almost everything does in this Haryana boom-town. Swish, glass-cladded IT, ITeS offices; big, and bigger, malls; and a series of premium, gated residential complexes along the broad, dusty avenues here -- DLF BelAir, Parsvanath PrideAsia, EmaarMGF's Palm Springs, etcetera, etcetera. It is thus only fitting that something called "Street of Dreams" should be located along this road.
Almost every IT, ITES, banking and financial company pays someone to read employees' outbound e-mails and attachments.
According to a survey by HR consultancy firm Ma Foi, employment generation by the hospitality sector will be the largest - an addition of 430,000 jobs, from 6.16 million in 2007 to 6.59 million in 2008. This will be followed by the health sector, which will offer job opportunities to 290,000 more people, from 3.32 million in 2007 to 3.61 million in 2008.
Job portals are perhaps feeling jobless as the economic slowdown is making recruiters defer and limit their hiring plans.
Nuziveedu Seeds Ltd has signed a memorandum of understanding with the Tamil Nadu Industrial Development Corporation to establish an IT/ITeS special economic zone at Shollinganallur, on Chennai's IT corridor, at an investment of Rs 1,500 crore.
Brushing aside fears of a slowdown in the IT industry, the government on Thursday said the Indian IT-ITes/BPO (including hardware) sector's revenue is expected to grow at over 33 per cent in 2007-08.
IT and ITeS sectors' contribution to India's GDP has increased by 4 times in the last 10 years, revealed a study.
Globalisation and the outsourcing boom have undoubtedly transformed India. From a developing country, we are today an emerging economy and a super power in the making.
The initiative comes in the wake of allegations in the US and the UK that the country's call centre workers have stolen and sold data processed by local outsourcing/BPO firms.
19 per cent of national supply to come up in the city.
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