Expressing deep concerns over India's policy of preferring domestically manufactured information and communication technology goods, the apex body of US telecom industry has told lawmakers that this will have negative impact on exports and economic competitiveness.
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.
.jpg)
A letter issued on Monday was jointly addressed to the US commerce secretary and trade representatives.
The Customs clearance required for moving equipment like laptops, desktops, etc out of SEZ units was delaying things as the clearance had to be taken in person after a first level of approval online.
The catchwords today are digital, analytics, robotics.
Kerry is scheduled to head to India later this month for the fourth annual US-India Strategic Dialogue.
"Protectionism is not new. The attention that is given is because there is a political and emotional element to it." TCS COO N G Subramaniam on why his company is optimistic despite global headwinds.
Nasdaq-listed information technology (IT) services firm Cognizant will incur the cost of $400 million over two years as it sets to restructure its operations amid sluggish growth rates. Its NextGen Program aims at simplifying the operating model, optimising corporate functions, and consolidating and realigning office space to reflect a post-pandemic hybrid work environment. As part of this structural shift, Cognizant will eliminate 80,000 seats, or 11 million square feet of real estate in large cities in India.
Information Technology's trade body National Association of Software and Service Companies will revise its industry growth forecast in the first week of December. Though the industry would be able to meet the $60-billion target for 2010, the body may revise software exports growth forecast downwards by few percentage points for 2008-09 due to the US financial turmoil.
This will be the first time BJP's prime ministerial candidate holds a discussion with IT, telecom czars.
The information technology services sector will see a sharp fall in revenue growth to 12-13 per cent in FY23 from 19 per cent in FY22, ratings agency Crisil said on Thursday. However, the current depreciation in the rupee, strong demand for new age technologies like artificial intelligence, cloud computing and Internet of Things will help the over $220-billion sector maintain a double digit growth, it said in a report. The moderation from 19 per cent to 12-13 per cent will be the highest in the last eight years, it said and attributed the decline to expected tightening of IT expenditure by corporates amid the inflationary headwinds in the United States and European Union (EU), which together contribute almost 85 per cent to the sector's revenue.
India has the world's largest treasure-trove of skilled manpower and is on the way to become a global IT powerhouse.
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.
From small restaurants to mighty software companies, it is businesses, not the government, that create jobs. Yet, in a cruel irony, they have to fight extortive and brutal State power every step of the way, says Debashis Basu.
India's information technology industry is estimated to cross Rs 1 lakh crore in 2004-05 and employ over 10 lakh knowledge professionals, according to Nasscom.
For two consecutive quarters, Tata Consultancy Services has recorded volume growth of five per cent, leaving its peers behind.
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.
MAG was constituted by Department of Electronics and IT in February 2014.
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.
Nasscom, the information technology and BPO industry body, on Monday favoured a flexible work atmosphere for women engaged in raising their family to curb dropout rates and boost their numbers in mid-level and senior management positions in companies.
There will be a huge market for healthcare professionals, data and security experts and digital marketers, says Navneet Singh, founder, Avsar HR Services.
It may not be an exaggeration to say that in the next three years, in India itself a million jobs or more might be at risk due to automation. How we leverage its benefits will determine our fate in the digital era.
Nasscom to set a committee to look for successor of Som Mittal.
India's gig workforce is expected to expand to 2.35 crore by 2029-30 from 77 lakh in 2020-21, a NITI Aayog report said on Monday, and recommended extending social security measures for such workers and their families in partnership mode as envisaged in Code on Social Security. The report titled 'India's Booming Gig and Platform Economy' further said gig workers are expected to form 6.7 per cent of the non-agricultural workforce or 4.1 per cent of the total livelihood in India by 2029-30. Gig workers can be broadly classified into platform and non-platform workers.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
India's information technology sector would require nearly 500,000 professionals in the next five years to cater to the growing needs of this booming industry
The industry has registered a 29-fold increase in patents over 2005-2008.
The export of software and information technology services to Japan could triple to $1,500 million in the near future if Indo-Japan double taxation avoidance agreement is renegotiated.
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 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.
Nokia dominated around 40 percent of the world's mobile phone industry in 2008, but its products were eclipsed by touch-screen smartphones made by Apple and Samsung.
This decision was taken at Executive Council meeting of National Association of Software and Service Companies held in Pune.
The pace of job generation has slowed as IT firms look at automation to do testing
The US move to reduce the number of H1B visas to 65,000 from 195,000 will affect the Indian information technology industry in the long run, Kiran Karnik
Nasscom estimates say that 2.4 million jobs would to be created for IT personnel by the end of the Tenth Five-Year Plan.
It's the second time Nasscom has projected single-digit growth in a decade.
The biggest loss of jobs among salaried employees was of 'white-collar professional employees and other employees'. Among these are engineers including software engineers, physicians, teachers, accountants, analysts and so on, who are professionally qualified and are employed in some private or government organisation All the gains made in their employment over the past four years were washed away during the lockdown, reveals Mahesh Vyas.
They have cited higher capital for bad-loan provisioning, pending legislative amendments, and delay in finalising rules by the Reserve Bank of India (RBI) as some of the reasons.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances