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.
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 kind of jobs the advent of artificial intelligence, data science and so on are creating simply didn't exist before'
The National Association of Software and Services companies on Wednesday launched the world's first-ever centralised database of IT professionals to further strengthen the security in Indian industry.
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.
AI, cloud computing, data analytics are a few areas companies are looking for proficiency in
Nasscom set up a task force last year, to position India as a global hub for providing cybersecurity solutions
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
The National Association of Software and service companies demanded on Wednesday that the tax incentives under section 10 (A) and 10 (B) of the Income Tax Act should continue till 2010, as committed by the government earlier.
In the midst of a sluggish growth and fears of a recession in the US, National Association for Software and Services Companies has chalked out 6 areas of emphasis in the financial year 2009. Nasscom said Indian IT sector would achieve the $60 bn target in the next 2 years. Thrust areas for the industry include: community, collaboration, societal development, inclusivity, green IT, education and skill-building. Nasscom said US slowdown will not have any long term impact.
Europe is the second largest market for Indian IT-BPM industry.
Software product revenues seen at only $6.1 bn in FY15
In 2014, the country witnessed 800 new companies starting up, taking the total number of start-ups to 3,100, Nasscom said.
The move is aimed at raising funds for the $600 million spending plan to boost security at the porous US-Mexico border.
On a cloudy Monday this month, Mohammed Irshad flew from Kochi to Gurugram to attend an exclusive investor networking event. Among a handful of founders selected for the event, Irshad was to pitch his peer-to-peer learning start-up Notespaedia for funding in front of top venture capital investors such as AngelBay, Elevation Capital, and Inflection Point Ventures. He failed to woo them, but the feisty entrepreneur was determined to continue his hunt.
'30 to 40% of the industry needs to be reskilled as existing jobs will go to automation.' 'Reskilling is required as some existing jobs will not be required in the future.'
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.
Tier-II and tier-III towns have a reason to rejoice.
At the end of June, 2016, TCS had a total headcount of 3.62 lakh.
It's the second time Nasscom has projected single-digit growth in a decade.
As many as 11,500 startups would come up in the country employing over 2,50,000 people by 2020, according to key findings of India Start-up Report 2014 of industry body Nasscom.
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.
The National Association of Software and Service Companies on Tuesday favoured the setting up of a state-of-the-art animation studio by a government agency to give fillip to the domestic animation and gaming industry, which is growing 20 per cent ann
The National Association of Software and Services Companies, the apex body of the IT-BPO industry in India, on Wednesday expressed shock at the disclosures made by Satyam Computer Services chairman B Ramalinga Raju.
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 UK contributed to nearly $20 billion or 18% of India's $108 billion software exports for 2016.
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.
'The good news is the technology industry is creating a space for you somewhere else.'
Sector added only 200,000 employees in FY16, down from 230,000 in FY15
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.
However, the IT industry body is confident that software exports will touch the $50 billion mark by 2008, as predicted earlier.
Muzammil Patel and Rahul Murthi will answer all your start-up queries.
A domestic policy group would focus on issues related to service taxes, Data Protection Act and Indian Copyright Act. The international group would address global policy issues like WTO, besides visa and work permit matters.
'Some of these companies are India focused, some are overseas focused and some companies are focused on both.' Ritu Jha/Rediff.com reports from California.
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.
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.
In October, the company had announced that it will hire 35,000 freshers.
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.
