A National Association of Software and Services Companies study done by McKinsey suggests that the industry has quadrupled its gross domestic product contribution to four per cent, contributed to 45 per cent of all incremental urban employment created in the last 10 years, employed over two million people and gave impetus to new entrepreneurs, and increased the number of tertiary education institutions in the country.
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.
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.
IBM India won the award in 'Best IT Services and Products Company' category and IBM Daksh in 'Best BPO Company'.
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
The information technology and IT-enabled services sectors are expected to grow 12-14 per cent and clock export revenues of $84-87 billion in the next fiscal, industry body Nasscom said.
Many members of the association, who had bought shares of the IT firm at Rs 540 some four months back, had suffered heavy losses when the scrip crashed to Rs 39 on Wednesday, he said.
Having touched export revenues of $59 billion last year, the industry is estimated to have grown by 19 per cent in this financial year, aggregating revenues worth $76 billion.
It has apparent "negative connotations" in some mature markets such as the US.
With better infrastructure and quality human talent, Chennai fares better than Bangalore in attracting new investments from business process outsourcing and software firms
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.
Nasscom to set a committee to look for successor of Som Mittal.
The rising value of rupee against the US dollar is likely to make a two to three per cent dent in export earnings of Indian software companies in the first half of the current fiscal.
To position Bhubaneswar as a sought after IT destination, Orissa needs to build a world class workforce for IT and BPOs, ensure digital acceleration and focus on upgrading social infrastructure to attract global IT citizens. This was pointed out by Ganesh Natarajan, chairman, NASSCOM at an IT conclave on Destination Bhubaneswar.
In a major relief to Indian information technology (IT) companies operating in Australia, Canberra has agreed to amend its domestic laws to stop taxing offshore income of such Indian companies, as part of the free trade deal inked. This may lead to savings up to $200 million each year for over 100 Indian IT companies operating in Australia. "The Government of Australia has agreed to amend the domestic taxation law to stop the taxation of offshore income of Indian firms providing technical services to Australia. "This will resolve the issue that the Indian government has raised about the double taxation avoidance agreement (DTAA) between the two governments for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income," said a commerce ministry official.
The move is aimed at raising funds for the $600 million spending plan to boost security at the porous US-Mexico border.
Nasscom recently released its ranking of the top 20 IT-BPO organisations in the country that accounted for over 40 percent of the total employees in this sector.
The executive council, which met in Chennai on Monday, stated, "Som Mittal is doing an outstanding job in leading Nasscom as president.
Kiran Karnik, president of National Association of Software and Service Companies, apex body of India's software industry, was recently named the 'Dataquest IT Person of the Year 2005'. \n\n
India has the world's largest treasure-trove of skilled manpower and is on the way to become a global IT powerhouse.
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.
The UIDAI chairman said people have started relaising the benefits of aadhaar numbers and how it could help them in multiple ways -- from opening a bank account to avail the benefits of various social welfare schemes.
Som Mittal talks about the industry challenges, the next big disruption for the IT industry.
National Association of Software and Services Companies has raised the issue of lack of employability of engineering graduates in IT and IT enabled Services sectors, Minister of State for Human Resources Development D Purandeswari said in a written reply to the Lok Sabha.
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.
Kiran Karnik, president of National Association of Software and Service Companies day hinted on Thursday at a possible slowdown in the momentum of India's information technology exports after 2010,due to the recent tax impositions on the sector.
'Indians are merely going for software programming: it is like a car mechanic repairing cars, which is a tremendous ability. But though we can repair cars we cannot design them!' says Nasscom president Kiran Karnik.
The National Association of Software and Service Companies has embarked upon a new initiative to check cyber crimes, for which the apex body of software professionals would team up with police force of major IT cities in the country.
Mittal, who is the head of services business of Hewlett Packard for Asia Pacific and Japan, will succeed Karin Karnik and will assume office from January 2008.
The US has emerged as a preferred destination for Indian investment. In fact, India now ranks second, behind the UAE, in the list of fastest-growing foreign investors in the US, he argued in his article.
The Indian IT industry is pushing the Nasscom and other agencies to lobby hard with Germany for reviewing its decision to stop issuing green cards to software professionals.
Looking at Australia for partnership in the ICT arena, National Association of Software and Service Companies is exploring ways to foster alliances and is leading an IT trade delegation there for the purpose.
The industry has registered a 29-fold increase in patents over 2005-2008.
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.
