With automation taking place at a much faster pace across industries especially in the tech space, domestic software firms that employee over 16 million are set to slash headcounts by a massive 3 million by 2022, which will help them save a whopping $100 billion mostly in salaries annually, says a report. The domestic IT sector employs around 16 million, of them around 9 million are employed in low-skilled services and BPO roles, according to Nasscom. Of these 9 million low-skilled services and BPO roles, 30 per cent or around 3 million will be lost by 2022, principally driven by the impact of robot process automation or RPA. Roughly 0.7 million roles are expected to be replaced by RPA alone and the rest due to other technological upgrades and upskilling by the domestic IT players, while it the RPA will have the worst impact in the US with a loss of almost 1 million jobs, according to a Bank of America report on Wednesday.
The report is based on a joint survey by Nasscom and the PricewaterhouseCoopers.
The 30-share Sensex ended down 297 points at 27,438.
Indian firms selling SAAS products have got a bonanza as companies meet, manage and sell remotely. The top five firms - Zoho, Freshworks HighRadius, Druva, and Icertis - account for 33 per cent of the market share. Chennai, India's SAAS centre, alone generates $1 billion in annual revenue. Yuvraj Malik explains how these companies are planning their next phase of growth.
Mittal said the US continues to face shortage of IT skills, and expressed hope that there would be comprehensive changes in immigration policy.
To cement India's position as a preferred global outsourcing destination, the government on Wednesday liberalised guidelines for voice-based BPOs removing the distinction between domestic and international units as well as permitting interconnectivity between all types of OSP centres. Broadly, the rules would allow global companies, say an airline, with a voice-based centre in India to now serve global and domestic customers with common telecom resources, something that required dedicated, separate infrastructure previously. Moreover, the restrictions on data interconnectivity between any BPO (business process outsourcing) centre of the same company, a group company or any unrelated company has been done away with, allowing for massive flexibility in resource management for BPO operations.
Suggesting that layoffs in the information technology and business process outsourcing industry are still less than 1 per cent of the total workforce, top National Association of Software and Service Companies executives have said that the industry has not yet come in the grip of large-scale layoffs.
An author of over 80 books, a lead developer for an e-security product and the president of the Foundation of Information Security and Technology, he has co-chaired efforts by the Mumbai Police and Nasscom to institute cyber security.
The Indian IT outsourcing sector is expected to see exports growing 13-15 per cent in the fiscal year starting in April, an industry lobby group said on Tuesday, with improving US and European economies driving growth.
Small and mid-sized IT companies offer the best way to take advantage of the next stage of the emerging market growth story. According to Nasscom, the apex body for the IT industry, the industry expects to grow by 11-14 per cent and this growth will be driven by small and medium companies, which are performing better than tier-I companies.
Get Ahead reader Bhautik Joshi attended Nasscom Games Developers Conference 2011 in Pune. His observations on the gaming industry.
With over 1.7 million vacant cloud computing jobs, the future is bright for candidates with the right skills and experience, says Bhavesh Goswami, founder and CEO, CloudThat Technologies.
The information technology sector, India's largest private-sector employer with 3.1 million direct jobs, will witness muted hiring activity this year.
The slowdown of the US economy and the appreciating rupee hardly have any affect on the India's IT sector. The IT industry is poised to grow at 33 per cent growth in the fiscal year 2008 and is on target to emerge as a $75 billion sector by 2010, Nasscom said on Monday.
Given the sharp differences that the Democratic and Republican lawmakers and the White House has on various aspects of immigration reform including H-1B, the Congressional passage of the bill and its becoming a law as of now appears to be a tall order.
Information Technology sector grew by 19 per cent in 2011, clocking revenue of $76 billion
Information technology companies in smaller cities are forming regional associations to attract investments and get their demands fulfilled at the local level, as industry body Nasscom is unable to spread its wings in many such cities. Smaller companies in places such as Bhubaneswar, Coimbatore, Madurai, Kozhikode, Ahmedabad, Kochi and Thiruvananthapuram have created regional fora to sell their locations and also lobby state governments.
The US government should not only look at salary, but also focus on skills while making immigration reforms
Genpact has been ranked India's best third party ITES-BPO company, followed by WNS Global Services at the second spot and Transworks Information Services taking the third slot.
From $10 billion deployed in Indian start-ups in 2017, $6 billion went to unicorns
The recent ruling by the Authority of Advance Rulings making back-office services provided by a company to global firms taxable under GST, has sent shockwaves through the information technology and business process outsourcing industry.
Whether one likes it or not, services constitute the value-addition sector that the country has to build on, using its comparative advantage in infotech and related skills, suggests T N Ninan.
Bug bounty hunters or independent ethical hackers are certified cybersecurity professionals or security researchers who crawl the web, scanning the systems for gaps through which hackers can sneak in and alert the companies, says Shivani Shinde.
The software lobby Nasscom on Friday expressed concern over developments in Andhra Pradesh in the wake of Justice Srikrishna Committee report over Telangana issue and cautioned that prolonged unrest might hamper business and could lead to jobs being moved to other states.
Buoyed by steady recovery in demand for technology services, the Indian IT-BPO sector is estimated to grow 19 per cent in 2010-11 to $76 billion in revenues, software industry body Nasscom said.
Squeezing growth prospects in IT services firms and higher compensation in technology centres run by global companies are the two factors driving this trend.
'You have to move from one skill to another skill.' 'An employee can't say this job is my right and even if you train me, I refuse to get trained.' 'Those who participate in re-skilling will remain in the industry.' 'Those who refuse to get re-skilled will have to go.'
US President Barack Obama's just concluded visit has helped in breaking myths and stereotyping of India as "stealing jobs", apex IT industry body Nasscom said.
"I think we have just started touching the IT space in Gujarat. In the wake of demand, we see business growing in 44 cities of the country, out of which Ahmedabad, Vadodara and Surat have clearly emerged on the top," Nasscom President Som Mittal said, while speaking at IT Summit-2010 organised in Ahmedabad.
A specialised force with 1,000 personnel to be formed in the state for the same.
HCL BPO, ICICI OneSource and IBM Daksh are the next three.
HCL BPO, ICICI OneSource and IBM Daksh are the next three.
HCL BPO, ICICI OneSource and IBM Daksh are the next three.
Last year, there was almost 16 per cent increase in hiring by the Global Capability Centres in India.
Software and services exports from India grew 33 per cent year on year in 2005-06 to $23.6 billion according to industry body Nasscom.
Both are designed for safety of women.
India is gearing up to tap the huge engineering outsourcing opportunity and position itself as the world's hub for high value design and manufacturing destination, a top Nasscom official said on Monday.
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