Nasscom, the premier trade body of the Indian IT-BPO industry, on Wednesday said the aggregate revenues of the sector are expected to reach $60 billion by FY09.
National Association of Software and Service Companies said on Tuesday that it has enlisted the help of certain American law firms in drawing up an industry approach paper on the concept of professional services visa.
Among the other demands in its pre-Budget Memorandum 2008, the IT industry body has also suggested broadening the eligibility criteria for the large tax payer unit scheme, foreign tax credits, advance pricing agreements to provide upfront tax certainty, and refund of service tax paid on services utilised for export of computer software and BPO services.
Officially called the Border Security, Economic Opportunity and Immigration Modernisation Act, 2013, the Bill being pushed by the Obama administration gives the domestic IT professionals in the US a 60-day period to find a new job after they lose the existing one, among several other sweeping reforms.
Tata Consultancy Services has been ranked as the top IT software and services exporter in the country by National Association of Software and Service Companies.
The payments banks are intended to house transactional accounts for individuals, focusing on payments and remittances.
Last year, Nasscom hired influential lobbyist, public relation and law firms to plead the case of Indian firms with Congressmen.
A bulk of the Paris-headquartered IT major Capgemini's proposed euro 2 billion investment over three years in artificial intelligence (AI) is coming to India, a top official of the company said here on Wednesday. The three areas where the European tech major is investing are talent acquisitions, talent reskilling and for partnerships and creating a centre of excellence (CoE). "We have announced we will be training 100,000 people by the first half of 2024.
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.
The programme 'The Data Theft Scandal' is part of Channel 4's investigative series Dispatches which will be shown in the UK on Thursday
The business process outsourcing market in India is all set for a robust growth in the next five years with a potential to capture at least 30 to 40 per cent share of the emerging $550-$700 billion global BPO market, says Nasscom.
"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'.
A group of six US lawmakers had recently introduced 'The US Call Center and Consumer Protection Act of 2013' in the Congress that requires overseas call centre employees to disclose their location to US consumers.
The National Association of Software and Service Companies is planning to set up a consultative panel comprising immigration experts from abroad to advise its small and medium enterprises (SMEs) members on visa issues.
TCS had earlier this week announced that it too would be hiring less number of freshers.
Nasscom president Kiran Karnik on Friday said the software association was in constant touch with various authorities for resolving the matter involving CEO of an i-flex arm.
US is the largest market for the over $140 billion Indian IT services industry
Software exports from India will attain the $50-billion target by 2008 as situation is conducive, even though the industry requires to post a 33 per cent growth in the coming years, National Association of Software and service Companies has said.\n\n\n\n
Software industry association Nasscom has sought continuation of software technology parks of India scheme where companies get tax benefits, till 2019.
India's software and services exports for the 2002-03 fiscal would be lower than the projected growth rate of 30 per cent as a result of the appreciation of the Indian rupee, National Association of Software and Service Companies
India added over 1,300 active tech start-ups to its ecosystem in calendar year 2022, taking the total tally to between 25,000-27,000, according to a recent report. The country continues to be the world's third largest tech start-up ecosystem. The Nasscom-Zinnov Indian Tech Start-up Landscape Report 2022 found that India added the second highest number of Unicorns - companies with a valuation of at least $1 billion - in the world, with over 23 added in CY2022.
The projected fall has been attributed to the US economic slowdown and the rise in international oil prices. Accordingly, the industry growth has been pegged at around 24 per cent for FY09. In FY08, total revenues including hardware were $48 billion which are expected to touch $64 billion in FY09. The total software and services revenue was $39.5 billion in FY08 and expected to touch $52 billion in FY09.
As the world celebrated International Day of Persons with Disabilities (PwD) on December 3, corporate India has kept up with efforts to make workplaces more inclusive and accessible. Organisations across sectors are taking initiatives such as equipping offices with practical work tools like Braille-friendly and voice-enabled lifts and screen readers. While inclusion has gained pace, only 11.3 per cent (or 3.4 million out of 30 million) Indians with disabilities have jobs.
The National Association of Software and Service Companies on Monday said the Indian software and services sector will post a 28 per cent growth in 2003-04 at $12 billion in revenues, compared to $9.5 billion in 2002-03.
The National Association of Software and Services Companies said on Friday that the rupee appreciation would not affect the software export growth target of 26-28 per cent during the 2003-04 fiscal.\n\n\n\n
Two-thirds of organisations in the Indian technology sector are hiring gig workers as they respond to a changing business landscape, said a report by industry organisation NASSCOM and others on Thursday. Focus on requirement for specialised skills, employee demand and cost optimization enabled organisations to use the gig model for technology roles traditionally restricted to HR and support functions. Software development, UI/UX design, and data analytics were the top three gig skills the technology sector needed.
Her reasoning is simple, "It's a Tata company. No shareholder will let go of this opportunity," she told Business Standard. When asked if the other reason for lining up for the IPO is the technology sector and the fact that the combination of Tata and tech is happening after almost two decades, she replied: "The name of the company and the group matter. Tata means stability and credibility," she added.
Indian IT industry could touch a total revenue of $15.5 billion in 2004 against $12 billion last year, according to National Association for Software and Service Companies.
As the United States plans to reduce the number of H1-B visas to 65,000 from 195,000, India's apex body National Association of Software and Service Companies sought to cap it between 120,000 and 130,000
Finance Minister Nirmala Sitharaman on Tuesday met top officials of the finance and corporate affairs ministries to review the implementation of various announcements of the Union Budget FY24. "The finance minister underlined the importance of continuous assessment of progress to ensure that various announcements are implemented in a time-bound manner," the finance ministry said in a tweet. Sitharaman also discussed in detail various issues on the digital competition laws with Rajeev Chandrashekhar, the minister of state for entrepreneurship, skill development, electronics and technology.
Indian IT services sector's revenue growth will slow down to 3 per cent in the current fiscal from 9.2 per cent in the previous financial year, a domestic ratings company said on Tuesday. Icra Ratings said the profitability will also take a beating in this financial year and the operating profit margin will narrow by up to 1 percentage point to 20-21 per cent. The topline growth will come down to 3-5 per cent in FY24 from the 9.2 per cent posted in FY23, the agency said, attributing the slowdown to softening demand.
The government is planning new regulations that may impose penalties on both the creator and the platform hosting deepfakes, as it looks to clamp down on what IT and Telecom Minister Ashwini Vaishaw described as "a threat to democracy".
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