Aadhaar architect Nandan Nilekani on Friday India is well-placed on the government and businesses fronts to leverage artificial intelligence (AI) in unique ways to solve challenges and tap into opportunities. Nilekani noted that over the last few years, the government has focussed on how to make transactions more efficient and effective, which has driven digitisation across the board. He added that as a byproduct of this, huge data now across systems has been generated and that the time is right to apply AI across the board to India's most challenging issues across areas like healthcare and education.
It has taken a pandemic to move the needle on the salary packages for greenhorn engineers hired by the Indian IT services sector. The country's third-largest IT services player, HCL Technologies, has decided to boost the entry-level packages from Rs 3-3.6 lakh to Rs 4.25 lakh for FY23, in a bid to attract fresh talent and keep them for longer to counter the impact of rising attrition. This new package would also be applicable to those freshers who joined the firm in FY22.
"Critical data which has to be resided in India is an important component that needs to be clarified, as this will be arguably uncovered on an ad hoc basis as we move forward."
It's the second time Nasscom has projected single-digit growth in a decade.
A majority of the companies said the law, aimed at jobs with a monthly salary cap of Rs 50,000, will result in them leaving Haryana or growing their operations in other states and abroad.
Sector added only 200,000 employees in FY16, down from 230,000 in FY15
Demand for digital technologies and resumption of normal economic activities will drive sales for IT companies, and the sector will post a revenue growth of up to 9 per cent in 2021-22, a report said on Thursday. Rating agency Icra gave a "stable" outlook for the sector, whose size is pegged at over $180 billion by industry lobby Nasscom, including the business process outsourcing business. The IT services sector's revenues will rise between 7-9 per cent in rupee terms and between 5-8 per cent in dollar terms in 2021-22, it estimated.
Nasscom and the Chinese government have given the task of creating a matchmaking platform to Zeta-V, set up in June 2017 in Shanghai by Sujit Chatterjee, former CEO of TCS China, and Rangarajan Vellamore, former CEO of Infosys China.
Muzammil Patel and Rahul Murthi will answer all your start-up queries.
National Association of Software and Service Companies chairman Kiran Karnik has said the Maharashtra government was not promoting information technology in a big way.\n\n\n\n
Never let self-doubt get in your way and the fear of rejection stop you from growing.
In 2014, the country witnessed 800 new companies starting up, taking the total number of start-ups to 3,100, Nasscom said.
'About 1.2-2 million people will be added to the IT-ITeS workforce by 2020.'
Software product revenues seen at only $6.1 bn in FY15
Prime Minister Narendra Modi will address the India-US Startup Konnect and share his vision on 'Start up India, Stand up India' as part of his US visit later this month.
Nasscom set up a task force last year, to position India as a global hub for providing cybersecurity solutions
5G networks in India can be deployed in three months but in limited areas as the optical fibre based infrastructure to support the technology is not ready yet, telecom industry players said on Tuesday. Nokia India head of marketing and corporate affairs Amit Marwah said that India has to take a call on deployment of 5G services otherwise it will miss to take advantage of the next generation technology that it can bring for the economy.
Wipro founder-chairman Azim Premji believes the Indian IT industry revenues will grow in double digits in the current financial year. Throughout the pandemic, which saw lockdown measures to curtail the spread of the virus, the information technology industry has kept the world running and has also adapted to the changes, Premji said, speaking at an event of the Bombay Chartered Accountants' Society on Tuesday evening. As per Nasscom, the IT industry revenues stood at $194 billion in FY21. The lobby group has ceased giving estimates of the topline growth a few years ago.
'We are anticipating that the hiring trend will continue to see double-digit growth at least for the current financial year.'
Nasscom announced on Tuesday that it will soon introduce a `best practices' policy framework to streamline and standardise processes in the information technology-related services and business process outsourcing (ITeS-BPO) industry.
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.
As 8 new startups join the 2018 club, average time taken to be a $1 billion firm now stands at 5-7 years, next only to China, says a Nasscom report
On Tuesday, Nasscom announced at its 21st Leadership Summit that it expected the sector to grow 12-14 per cent in FY14, better than the 10.9 per cent growth it would report for FY13.
In October, the company had announced that it will hire 35,000 freshers.
Nasscom said growth for the current financial year (2016-17) was expected to be 8.6%
'We are the only country in the world where everybody gets a digital vaccination certificate immediately... Then as we open up, as they did yesterday, which I think is a welcome move, you will have lots and lots of points where people will come in'
Tier-II and tier-III towns have a reason to rejoice.
Apart from such advisory, IT biggies such as TCS, Infosys and HCL Tech among others have been pursuing 'remote working' model to overcome the situation.
Squeezing growth prospects in IT services firms and higher compensation in technology centres run by global companies are the two factors driving this trend.
At the end of June, 2016, TCS had a total headcount of 3.62 lakh.
The US government has removed a regulation proposed by former president Donald Trump's administration that sought to narrow the definition of "specialty occupation" under the H-1B visa regime. The change comes as a relief for Indian information technology firms, which are among the largest users of such visas. "The Department of Homeland Security (DHS) has formally vacated a regulation that would have redefined the H-1B specialty occupation, restricted off site placement of H-1B employees, and otherwise increased employer compliance obligations. "The vacatur follows a federal court ruling that set aside the regulation because the agency did not have good cause to bypass notice and comment rulemaking, in violation of the Administrative Procedures Act," explained immigration law firm Fragomen.
'The world has changed and nobody has the patience to start a project and wait for six months to look at the outcome.'
The UK contributed to nearly $20 billion or 18% of India's $108 billion software exports for 2016.
Most of the large Indian IT services players, such as TCS, Infosys, Wipro, and HCL Tech, have signalled increased offshoring efforts and opting for local hires in the US, primarily to address the immigration-related challenges.
The DST has accepted a proposal of National Association of Software and Service Companies in this regard.
Nasscom president Som Mittal shares his view on issues such as the rise in value of the rupee against the dollar, hiring trends and the role of IT in e-governance.
Modi govt is aiming to recast the urban landscape of the country by making cities more livable.
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.
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.
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