JP Morgan has downgraded the Indian information technology sector to 'underweight' as it believes the heydays of the sector are over. Rising margin headwinds in the near-term and the revenue headwinds in the medium-term from a potential macro slowdown, Ankur Rudra and Bhavik Mehta of JP Morgan said in the report, will mean that the sector's earnings upgrade cycle is behind. "We see peak revenue growth behind us and earnings before interest and taxes (EBIT) margins trending down from inflation, mean revision.
The agency had received Rs 946.51 crore to manage its affairs in the Budget Estimates for 2023-24, which was later increased to Rs 968.86 crore in the Revised Estimates.
The policy proposes a single-window platform for facilitation of the Indian software product industry, to help fast-track legal and regulatory issues over import and export, as well as setting up and winding up enterprises.
Businessman Raj Kundra was the "main facilitator" in a pornographic content case and he along with other accused exploited young women struggling in the movie industry by filming them in obscene ways, the Mumbai Police claimed in a supplementary charge-sheet filed in a court on Wednesday.
Companies say they have ensured that services to clients remain unaffected.
Azim Premji, chairman of IT major Wipro, was conferred the highest French civilian honour for his outstanding contribution to developing the information technology industry in India, his economic outreach in France, and his laudable contribution to society as a philanthropist through the Azim Premji Foundation and Azim Premji University
The Indian government has asked the cement industry to concentrate on modernisation and upgradation of technology, optimisation of operations and increased application of automation and information technology.
'If we want our economies to be strong, we need to invest in young people who are our future.'
Information technology majors like Hewlett-Packard, Canon and Intel have joined hands with the Manufacturers' Association of Information Technology to form the IT anti-counterfeit coalition to curb hardware counterfeiting market in India.
'Looking at the speed at which changes were made post the Franklin Templeton issue, we are awaiting more stricter norms in the months to come.'
'This is a race where every technology can be used by the bad guys and good guys.'
A number of persons fainted after experiencing 'burning sensation' in their throat and chest. Many people who were asleep woke up in panic and scurried out of their homes and alerted neighbours and all of them soon reached the main roads unsure of what to do.
The latest cuts come after the company announced earlier this year that it was eliminating some 18,000 positions as part of a major cost-cutting bid at the e-commerce giant. "Given the uncertain economy... and the uncertainty that exists in the near future, we have chosen to be more streamlined in our costs and headcount," Jassy said in a memo to staff.
Nasscom estimates say that 2.4 million jobs would to be created for IT personnel by the end of the Tenth Five-Year Plan.
The Union Budget deserves two or maybe two-and-a-half cheers for what it has on offer for the Indian information technology (IT).
The prime minister also stressed on the need to transform the landscape of Indian science, technology and innovation, as he assured that the government will ensure the 'Ease of doing Science' and effectively using information technology to reduce red tape.
Significant controls and exemptions to the government under the proposed Digital Personal Data Protection bill 2022 are likely to make it harder for companies to invest in data centres and data processing activities in India, according to global technology industry body ITI. The ministry of electronics and IT has floated draft Digital Personal Data Protection (DPDP) Bill 2022 and has invited comments on the same till January 2. "The Bill grants significant controls to the executive arm of GOI (Government of India) and delegates much of the detailed rulemaking authority to separate, as yet undefined processes.
The proposed law seeks bars on storing and processing of personal data by entities without the explicit consent of an individual. It, however, provides for exemptions for "reasonable purposes" such as "prevention and detection of any unlawful activity including fraud, whistle-blowing, merger and acquisitions, network and information security, credit scoring, recovery of debt, processing of publicly available personal data and the operation of search engines".
'A microcosm of India, inclusive and welcoming'. For years, Pragati Maidan was the centre of Delhi's social life.
All nine Adani stocks saw a rise in their share price in H1FY23, ranging from 6.1% in case of Adani Ports to 102% in case of Adani Power.
'MNCs now recognise India's capacity for innovation and its pivotal role in substantive contributions to global product development.'
The proposal was put forward by Telecom and IT Minister Kapil Sibal who is on his four-day visit to Japan to attract investments in the Indian ICT sector.
The farmers' agitation against new agri laws will lead to economic loss of over Rs 70,000 crore in the December quarter owing to supply chain disruptions, particularly in Punjab, Haryana and border areas of Delhi, the PHD Chamber of Commerce and Industry said on Thursday. The chamber's president Sanjay Aggarwal said "the 36 days farm agitation so far will have more than Rs 70,000 crore economic loss in the Q3 FY 2020-21 due to...disruption in supply chains and day-to-day economic activities particularly in the progressive states of Punjab and Haryana and border areas of national capital Delhi."
The earnings of India Inc hit a record high in the 2022-23 (FY23) January-March quarter (fourth quarter, or Q4), compared with their poor showing in the previous two quarters of the financial year. The rise in earnings, however, is exclusively led by banking, financial services, and insurance (BFSI) companies. A better-than-expected showing by banks and non-bank lenders in Q4FY23 more than compensated for the earnings contraction in the non-BFSI space.
The words 'industry', 'industrial development', 'jobs', and 'employment' have been ringing with higher frequency since Mamata Banerjee stepped into her third term with landslide victory after a high-octane election last year. "Our government's next target is industrial development," the chief minister (CM) had been heard stating at different public meetings in the past few months - perhaps setting the tone for the sixth edition of the Bengal Global Business Summit (BGBS) slated for later this month. Investor summits by any state are about intent, big numbers, and tall claims. Yet in competitive federalism, its importance as a marketing tool is undeniable.
'The good news is the technology industry is creating a space for you somewhere else.'
Ahead of the state assembly elections due this year-end, Baghel made as many as 15 announcements in his address during the state-level Independence Day function at the Police Parade ground in Raipur.
The Ministry of Information and Broadcasting (I&B ministry) may launch its review of the government's plan to potentially reserve the crucial C-band of radio frequencies for 5G and 6G telecommunication (telecom) use, said officials. While the incumbent broadcasting operators have warned that the plan will leave "precious little spectrum" for broadcasting services, telecom service providers (TSPs) have pressed hard for getting access to the C-band. In multiple letters to the I&B ministry over the past month, the News Broadcasters & Digital Association (NBDA) has said the industry would be left with precious little spectrum for broadcasting services if the Department of Telecommunications (DoT) further allocates the scant C-band for 5G.
Considered a visionary, Rajendra S Pawar was years ahead of his time in realising the importance of IT (information technology) education in India.
Defence Minister Rajnath Singh on Wednesday conveyed to US Defence Secretary Lloyd Austin India's concerns over Washington's decision to provide sustenance package for Pakistan's F-16 fighter jet fleet.
The Indian Broadcasting Foundation (IBF) on Monday announced the appointment of former Supreme Court judge Justice Vikramjit Sen as the Chairman of its newly formed self-regulatory body Digital Media Content Regulatory Council (DMCRC).
The TCS results are probably a pointer to the subdued outlook.
Punjab Chief Minister Charanjit Singh Channi on Tuesday allocated portfolios to the new ministers, keeping 14 departments with himself and giving home affairs to deputy chief minister Sukhjinder Singh Randhawa and health to other deputy O P Soni.
The state's joblessness is three times higher than the national average of 7.8 per cent.
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