'If the business doesn't recover in next 6-10 months, there might be situation where there would be some lay-offs...That may be required for survival and to ensure livelihood to millions of people.'
The domestic technology industry's revenue is projected to grow 3.8 per cent to $254 billion this fiscal, industry body Nasscom said on Friday and highlighted creation of 60,000 more jobs during this period. The industry had clocked a revenue of $244.6 billion in the same period last year, according to Nasscom's annual strategic review report. Excluding hardware, the revenue is expected to touch $199 billion, a growth of 3.3 per cent over FY23, as per the report.
Pramod Bhasin has been appointed as the chairman of the executive council of the National Association of Software and Service Companies (Nasscom) for the year 2009-2010.
The National Association of Software and Service companies has appointed S Ramadorai, chief executive officer, Tata Consultancy Services as the chairman of Nasscom for the year 2005-06.
Prime Minister Manmohan Singh will deliver the valedictory address on February 9
Tech and startup industry bodies have again pushed back against calls by telecom operators to bring over-the-top (OTT) services under a licensing regime similar to telcos, and open them up to taxation. Ahead of public consultations on the issue later this week, the Internet & Mobile Association of India (IAMAI), Nasscom and the US India Strategic Partnership Forum (USISPF), among others, have written to the government arguing against such efforts.
IT major Cognizant's subsidiary TriZetto has slapped a lawsuit on Infosys in a US federal court, accusing the Bengaluru-headquartered company of stealing trade secrets and information related to healthcare insurance software. Infosys, in a statement, denied all allegations. The company asserted it is aware of the lawsuit and will defend its position in the court.
Software industry body Nasscom on Tuesday maintained its growth projection of 16-18 per cent for the sector in this fiscal, notwithstanding concerns over economic uncertainty in global markets.
AI-driven and deepfake-enabled cyberattacks are anticipated to become increasingly prevalent in 2025 with sectors like healthcare and finance most prone targets, according to a recent report. The India Cyber Threat Report 2025 by the Data Security Council of India (DSCI) and Seqrite, spotlighted the evolving tactics of cybercriminals and the rise of AI-driven attacks as a major concern. "Artificial Intelligence (AI) will be used to develop highly sophisticated phishing campaigns utilising deepfake technology and personalised attack vectors, making them harder to detect.
A quick and decisive action in such incidents augurs well for the IT industry, feels the Nasscom Chairman.
Nasscom will float a Rs 100 cr fund to help individuals and small companies in setting up and innovating their business. Tata Consultancy Services, Bharti Airtel Ltd and ICICI Knowledge Park to be key investors.
'It is the responsibility of industry to take the very bright talent whose knowledge of software engineering basics is very high, and then give them additional skills.'
Recognising the growing prominence of Chennai in the Indian software industry, the National Association of Software and Service Companies will open an office in the city before this year-end
A day after it received Rs 32,403 crore GST demand, Infosys on Thursday said Karnataka state authorities have withdrawn the 'pre-show cause' notice to the company and directed it to submit further response to the Directorate General of GST Intelligence (DGGI) on the issue. India's second largest IT company had made headlines on Wednesday after GST authorities slapped a Rs 32,403 crore notice on it for services availed by the company from its overseas branches for five years starting 2017.
In a statement, Nasscom said it looked forward to the opportunity of working with the President-elect and his administration on mutually beneficial policies that will boost economy in both nations, enhance bilateral national security matters between India and U S and build on the long standing partnership the two democracies share.
"The industry is looking at a rate of 12-16 per cent. So, it entirely depends on how it gets. But the bigger concern is how the GST is applied," said R Chandrashekhar, president of Nasscom.
According to Nasscom, India must make its R&D significantly more robust to realise the 'Make in India' dream
National Association of Software and Services Companies has signed a pact with Nasdaq, electronic stock exchange in US, to assist Indian companies to raise capital and get listed in American capital markets.
Nasscom, the apex body that represents the Indian IT outsourcing industry, will demand 'service visas' instead of mentioning H1-B/L1 visas.
The new programme could bring in longer lead times and paperwork
With the economy gaining pace and large deals back on the table, chief executive officers (CEOs) of tech companies believe global tech spending will witness growth this year. According to CEO Survey by Nasscom, about 71 per cent chief executives expect global spend to grow over 4 per cent. The figure is significantly higher than the previous two years - 41 per cent and 59 per cent in 2019 and 2020, respectively. The survey also said the recovery in global tech spending will be led by the digital segment.
The country will witness a mushrooming of technology start-ups over the next five years.
This decision was taken at Executive Council meeting of National Association of Software and Service Companies held in Pune.
IT trade body Nasscom on Tuesday announced the national roll-out of its assessment and certification program 'Nasscom Assessment of Competence' in the country, which would be first launched in Rajasthan.
Nasscom has identified 4-5 different areas and is taking these recommendations to the government.
Expressing reservations over the government move for job quota, NASSCOM, the apex body of the IT software and services industry, said on Tuesday the best way to end discrimination was to raise the ability of the disadvantaged section.
The National Association of Software and Services Companies (Nasscom) on Saturday welcomed re-appointment of N R Narayana Murthy as Infosys Executive Chairman, saying his insights into the company and the technology industry would be valuable.
Students would be provided with industry certification.
IT industry body Nasscom has asked the government to set up special or fast track courts for early conviction in cyber crimes matters.
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.
Software industry body Nasscom on Wednesday appointed Cognizant India Executive Vice Chairman R Chandrasekaran as its Chairman for the year 2014-15.
IT body Nasscom has helped four start-ups raise funding of Rs 40 lakh as part of its programme to help entrepreneurs turn their ideas into successful businesses.
Nasscom recommended that there should be 'no double dipping'.
The executive council, which met in Chennai on Monday, stated, "Som Mittal is doing an outstanding job in leading Nasscom as president.
Nearly 45 per cent of this value is likely to be delivered by 3 sectors - consumer goods and retail, agriculture and banking and insurance, the Nasscom report said.
IT industry body Nasscom on Tuesday said the sector will regain double-digit growth from April next year leaving behind the prolonged recession.
