The effects of the sub-prime crisis and the resultant slowdown of the US market is evident on the margins of Indian information technology (IT) and IT-enabled Services (ITeS) firms. Business process outsourcing (BPO) firms such as Firstsource, Pune-based HOV Services, Zenta, Aegis BPO and others have been receiving inquiries from existing as well as new customers for ramping up their account receivables management (ARM) business.
According to Grant Thornton's January data, IT & ITeS tracked the highest in terms of value, with the industry investing $1.2 billion in M&A over 12 deals.
Information technology and IT-enabled Services will continue to drive the employment generation in the country for the quarter July-September 2005, according to a Ma Foi Employment Survey.
India's information technology industry is estimated to cross Rs 1 lakh crore in 2004-05 and employ over 10 lakh knowledge professionals, according to Nasscom.
The slowdown in the information technology sector has resulted in reduced demand for office space in India in the second quarter of the current financial year, says a report by global real estate consultancy CB Richard Ellis.
The government has created a comprehensive budget with sharp focus on sustaining economic activity and investment but more clarity is needed on areas like taxation framework for adopting remote working on a long-term basis, IT body Nasscom said on Monday. The industry association noted that the IT/ITeS (Information Technology-enabled Services) industry has been a key driver of growth and jobs in 2020 and there is an opportunity to significantly accelerate it further. "For the IT sector, one of the biggest needs ahead of us is the development of future business models, with hybrid working becoming a reality. "We look forward for the government to provide clarity on providing a framework in direct taxes and indirect taxes for the industry to adopt WFH/remote working on a long-term basis," Nasscom said in a statement.
Advances in technology could render much of the Indian IT services industry obsolete.
'After his warm and affectionate farewell speech, the Chief of Staff of the formation asked me, "So, now you are off to Coorg to look after your coffee estates?"' For the last time, in Army uniform and much to his surprise, I replied, "Sir, I am not from Kodagu.".'
India's value proposition and overall shift towards offshore information technology and IT-enabled services will lead to an annual growth rate of 35 per cent in the sector.
To check cyber crimes like publishing sexually explicit material in electronic form, government introduced a Bill in Lok Sabha on Friday to amend the IT Act to enable service providers to set up and maintain e-signature facilities.
'We aim at establishing India as an early talent hub on a global scale and are actively recruiting professionals in areas like cybersecurity, machine learning, data science, and other relevant fields.'
'AI may perform tasks, but deep expertise and specialisation remain uniquely human.'
VCFs plan to disinvest their IT holdings to ITeS firms and gain from local markets
The plan is to de-notify the entire SEZ.
While praising the internship scheme announced in the Budget, India Inc wants clarity on how it will be implemented. The scheme is expected to help companies address the skill gap in employment. Dheeraj Hinduja, chairman, auto major Ashok Leyland, said: "We had started an internship programme at our plant in Pantnagar, which we established in 2010 with colleges there.
Union Communications Minister, Dayanidhi Maran, wants India to accept market-driven technologies.
'So, we would work with our members to ensure that we as an SRO create some sort of due diligence for fintechs.'
In sectors like IT, cybersecurity, advanced manufacturing, and transportation, the H-1B One Workforce grant programme would be used to upskill the present workforce and train a new generation of workers.
'To access our satellite, you don't need any IQ test, you don't need to write an examination.' 'You can be a Class 1 student, an engineering student, a 60-year-old person, anybody can access our satellite.'
the Associated Chambers of Commerce and Industry on Wednesday said the country's IT industry is slated to grow by 26 per cent this year driven by strong economic performance.
Supply of space for corporate offices likely to cross 100 million sq ft by 2006.
CloudSEK in its report also warned that the leaked data could enable account takeovers.
Jobs requiring AI skills carry a significant wage premium, with some roles offering up to a 25 per cent increase in wages, notes Manoj Nagpal, vice president, professional services, OpenText, an information management company.
Hiring by information technology and and IT-enabled services companies in India will go up by 13 per cent to about 60,000 people in the third quarter of the current fiscal as compared to the previous quarter, says a study by human resources firm, Ma
Information technology major Infosys and Liberty Global, a London-based telecom firm, signed a 1.5 billion (about $1.64 billion) deal for five years to evolve and scale up the telco's digital entertainment and connectivity platforms, the companies said in a joint statement on Tuesday. As part of the expanded collaboration agreement, the size of the contract will touch 2.3 billion (about $2.5 billion) if extended to 8 years. The collaboration allows Liberty Global to realise run-rate savings of over 100 million (about $109 million) per annum, inclusive of other savings and technology investments, Infosys said in a statement.
India SME Forum, an organisation for small and medium businesses, has called for creating a dedicated fund of Rs 5000 crore for the export capacity development, promotion, and marketing of Micro, Small & Medium Enterprises (MSMEs) in its Budget recommendation. The forum for MSMEs with over 98,000 members said that to enhance India's global competitiveness and increase its market share in global exports, it was "crucial to increase the number of active exporters and enable at least 3-4 lakh first-time micro, small, and medium exporters while supporting them in promoting Indian products globally."
To check digital frauds, the government has disconnected 70 lakh mobile numbers so far involved in cybercrime or financial frauds, Financial Services Secretary Vivek Joshi said on Tuesday. Emerging from a meeting to discuss issues related to financial cyber security and increasing digital payment fraud, Joshi, who chaired the meeting, said banks have been asked to strengthen the system and processes in this regard. More such meetings would take place, he said, adding the next meeting is scheduled in January.
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