With the festival of lights just around the corner, things this year are looking brighter and sweeter for the software majors compared to one that went by, when they were struggling to grapple with the effects of the global meltdown.
Hyderabad has possibly the best infrastructure for IT in India today, says Infosys chief financial officer T V Mohandas Pai.
Infosys co-founder N R Narayana Murthy stirred a storm on X when he said young people should work 70 hours a week to level up the country's productivity. In a conversation with former Infosys CFO Mohandas Pai in the inaugural episode of 3one4 Capital's podcast 'The Record,' Murthy said that youngsters should put extra hours at work to compete with leading economies. "India's work productivity is one of the lowest in the world. Unless we improve our work productivity...we will not be able to compete with those countries that have made tremendous progress," he said, comparing India with China, Japan and Germany.
The impact of the global meltdown has forced India's second largest IT bellwether Infosys Technologies to freeze wage hikes and hiring in new fiscal 2009-10.
Infosys is boosting its investments in training by more than two-and-half-times to Rs 1,600 crore (Rs 16 billion) besides adding to the seating capacity, as scramble for talent in the industry gains further momentum.
The corporate affairs ministry has ordered an inspection of the books of Byju's, a senior government official said on Monday amid the edtech major facing multiple headwinds, including delay in submitting financial statements and concerns over corporate governance issues. The inspection of Bengaluru-based Think & Learn Pvt Ltd, which operates under the brand Byju's, will be carried out by the ministry, which is implementing the companies law. The ministry decided to carry out the inspection after taking note of the developments, including that the company has been unable to finalise its financial statements and that its auditor has resigned, the official told PTI.
Infosys on Wednesday came down heavily on the special economic zone concept, stating that it is against small companies and this can stifle innovation.
Wage hikes in both information technology and BPO sector is not likely to see any moderation from next year but would continue to grow at the current rate of 12-15 per cent annually, a senior Infosys Technologies official said.
Infosys directors - N R Narayana Murthy, Nandan Nilekani, T V Mohandas Pai (head of HR) and five others - have collectively offered 1.3 crores
A person who invested Rs 95 per share in 1993 in Infosys would have seen his share value at Rs 80,000 in just a decade.
IT major Infosys Technologies is all set to expand its operations in Hyderabad with a second campus that would come up in 550 acres with an investment of Rs 1,250 crore (Rs 12.50 billion) over the next ten years.
'The startup ecosystem, the government, and the owners of large pools of Indian capital need to actively support the creation of these local champions, not pull down the teams that are trying hard to get there.'
The whistle-blower may strongly feel about the issues he had raised.. the regulator will follow the due legal process and decide, Balakrishnan said.
Kamal has a crisp pen when it comes to writing short and yet powerful film dialogues. But while speaking ex tempore -- and that has been his style -- he looks every bit a confused man, observes N Sathiya Moorthy.
The Karnataka government on Wednesday put the reservation bill for Kannadigas in private firms on hold amid fierce criticism from business leaders and tech tycoons.
The stock exchange BSE has called off the merger of its unit at the Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC), India International Exchange (India INX), with NSE International Exchange (NSE IX), a similar unit floated by rival National Stock Exchange (NSE), according to sources familiar with the development. BSE and NSE had been in discussions for the merger for over a year, but it has yielded no results, they said.
The Tata Sons controversy has raised governance concerns. Arun Duggal and Mohandas Pai on the role of independent directors in such conflict situations.
Last year, the top 10 investors in the country had put their money in 209 deals, according to the data compiled by VCCEdge based on deals disclosed. This year they put money in only 60 deals.
Describing Murthy as a business icon, T V Mohandas Pai, former CFO of Infosys, said he is more than eminently suited to hold the position of Chairman Emeritus.
Bollywood megastar Amitabh Bachchan and Prince Karim Aga Khan were among the eminent personalities awarded the Padma Vibhushan, country's second highest civilian honour, by President Pranab Mukherjee in New Delhi on Wednesday.
Leaders who built and manage these incredible global companies cannot be tyrants, slave-drivers, or idiots. Essentially what they are saying falls under the definition of rallying the troops, inspirational talk, like the usual coach-speak with the team before a match, asserts Shekhar Gupta.
In a breather to the troubled edtech company, the steering committee of lenders has agreed to amend a $1.2 billion term loan with Byju's by August 3, 2023, the lenders announced on Monday. Successful execution of the amendment would "immediately" solve the loan's acceleration and end all open litigation while avoiding further enforcement actions, they in a statement. An e-mail sent to Byju's did not elicit a response.
The fresh meat and seafood delivery startup Licious plans to set up 500 stores nationwide within the next five years as part of an omnichannel strategy. The aim is to attract new users in the offline channel and encourage them to transact online as well. The move would also help the company in its efforts to achieve profitability and go for an initial public offering (IPO) in the next 24 months, according to the sources.
Refutes claims of differences between board, founders and Sikka; board needs to do better scrutiny, says Mohandas Pai.
'It is a sign of a bigger problem which is coming in the next six months.'
While about 8,000 people are in the long list of invitees, the select list features 506 A-listers, including prominent politicians, leading industrialists, top film stars, sportspersons, diplomats, judges and high priests.
Allowing 12-hour shifts for all and night-time work for women was meant to benefit software firms, but is said to have clinched Foxconn's Rs 80 billion investment.
Weeks after NR Narayana Murthy returned to Infosys, the country's second largest software exporter on Tuesday saw its global sales and marketing head Basab Pradhan quitting the company.
Do you have the courage to look through failures and unexpected pitfalls?
Karnataka government directing the foundation to include garlic and onion in the food.
Doctors warn that overwork is leading to lifestyle diseases like diabetes and spondylitis.
Sources within the Congress, including those who have been members of the teams that drafted its 2019 and 2024 Lok Sabha poll manifestos, said the Karnataka government decision lacked any empirical basis.
The government on Friday announced that no tax will be charged on overseas spending of up to Rs 7 lakh in a year using debit or credit as it looked to douse backlash from its earlier decision of levying TCS on all spending. The government had earlier this week brought overseas credit card spending under Liberalised Remittance Scheme (LRS). This meant that any spending using credit cards overseas would attract a 20 per cent tax from July 1.
'Anyone on Indian Twitter, Facebook, or any of the other forms of social media that matter (except elite forums like Instagram) understands instantly that it is dominated by upper-caste North Indian men.' 'Other voices are silenced and attacked,' says Mihir S Sharma.
Twitter said it is a platform where "marginalised voices can be seen and heard, but we also have a public commitment to being apolitical. We realise that this photo may not accurately represent that commitment".
Half of the people earning between Rs 30 lakh and Rs 70 lakh will lose their jobs in next 10 years.
