"We are seeing an uptick. There is a lot more clarity and certainty about projects and decision cycles. I'm quite positive and companies are wanting to adopt technologies and are making decisions," TCS chief executive officer and managing director N Chandrasekaran said on the sidelines of World Economic Forum on India in Gurgaon.
India's largest information technology (IT) services company, Tata Consultancy Services (TCS), may hire close to 11,000 employees in the January-March 2010 quarter. Close to 8,300 staffers are expected to be recruited from campuses, while 3,000 would be laterals or experienced hands.
Most of the hirings are, however, in the entry or junior level.
A team of engineers at India's largest IT services provider firm. Tata Consultancy Services, was working on a project for an important client. While it was co-ordinating work from three geographical units - Europe, South America and India - it was finding it difficult to collaborate through telephone or other voice means as there were language and pronunciation hurdles.
India and China together account for 32 of the 50 companies in Forbes' sixth annual 'Asia's Fabulous 50 listed companies'.
While industry leaders Tata Consultancy Services and Wipro have announced deferring wage-hike plans, other players such as Infosys and HCL Technologies are expected to follow suit, according to industry insiders.
India's largest IT services firm Tata Consultancy Services has bagged a $100 million (nearly Rs 450 crore) deal from US healthcare company Kimberly-Clark.
In an interview to Shivani Shinde, Chandrasekaran spoke on the general business environment, European crisis and growing concerns on staff attrition.
To begin with, there would be the immediate integration of various technology stacks. This would create more business for global consulting and IT services entities such as KPMG, PwC, EY, Accenture and IBM, among others. Indian service providers - Infosys, Tata Consultancy Services (TCS), and Wipro, for instance - would also cash in.
The US had initiated investigation against Infosys and its larger rival Tata Consultancy Services (TCS) for possible violations of H-1B visa rules in June.
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
Tata Consultancy Services (TCS), Infosys Technologies and Wipro were eliminated from the selection process for the project on technical grounds. Another IT major, HCL Technologies, was also rejected. The size of the project is not yet known.
Two influential US Senators have renewed the campaign against the biggest users of H-1B visa workers in the US, including Indian heavyweights Infosys, Wipro, Satyam and Tata Consultancy Services. They fired off a missive to these companies asking how they employed professional and skilled workers, majority of whom hail from India.
Information technology firms appear to have lost their appeal at the Indian Institutes of Technology. Campus recruitment figures by major Indian and foreign IT firms have dipped this year, raising further concerns of an industry slowdown.
Tata Consultancy Services on Monday announced the results for Q2 FY08. The net profit is up 22.8 per cent at Rs 1252 crore (Rs 12.52 billion).
"Outsourcing will continue. Even with the increase in wages in India by 14 or 14.5 per cent a year, we are still competitive upto the foreseeable future till 2011-12." TCS CEO and managing director S Ramadorai told reporters.
"We have reduced the time period for improving skills. Earlier, if an employee would show even a small improvement, we would give an extension of a few more months. Henceforth, that will not be done," said Ajoy Mukherjee, vice-president and head, global human resources. The company will consider an employee's performance for the past three years so as to maintain consistency.
Mutual funds (MFs) are betting on a turnaround in the healthcare sector to boost returns but are divided on the prospects of the information technology (IT) sector amid uncertain growth outlook. At the end of June, all of the top 20 fund houses were overweight on the healthcare sector vis--vis the sector's presence in the BSE 200 index, shows a report by Motilal Oswal Financial Services (MOFS). In the case of the IT sector, only six of the 20 fund houses had overweight positions.
The complaint was filed by non-US employees Gopi Vedachalam and Kangana Beri, who were sent from India to the US to work on projects.
Shares of India's largest information technology services company Tata Consultancy Services spurted by 20 per cent to touch an all-time high in early trade on the BSE on Friday, boosted by smart growth in net profit for the first quarter of FY2011-12, which analysts termed as above market expectations.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed eight spots to the 45th rank, the highest for an Indian company on Forbes' latest Global 2000 list of public companies worldwide.
Eight of the 10 most valued firms faced a combined erosion of Rs 1,17,493.78 crore in market valuation in an overall weak trend in equities last week, with Infosys taking the biggest hit. Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank and ICICI Bank were among the eight companies that suffered a decline in their valuation. ITC and State Bank of India were the only gainers. Last week, the 30-share BSE Sensex fell by 775.94 points or 1.28 per cent.
The deal structure is expected to be similar to the Infosys recent announcement of acquiring three global offshore centres from Philips along with getting an outsourcing deal.
India's largest IT services firm Tata Consultancy Services is eyeing the 'major transformation' in China's banking and financial services sector to tap the market for its services and products.
An alleged case of harassment against one of his employees by business associates puts an hotelier in the biggest crisis of his career.
Signalling a return of good times in the information technology (IT) sector, India's largest IT services provider, Tata Consultancy Services (TCS), plans to hire 30,000 employees in the next financial year.
Tata Consultancy Services Ltd and Microsoft were selected as strategic partners by Sino-India Cooperative Office of China to set up a software joint venture company for IT outsourcing services and solutions to both global and domestic market.
A $15.2-million contract between a subsidiary of India-based Tata Consultancy Services and an American state agency has been cancelled, falling victim to politics in view of elections in the US next year.
While the current headcount reduction has more to do with slowing demand, the rise of artificial intelligence will impact jobs in the future.
The IT sector's fresher hiring is expected to rise by 20% to 25% for 2024-2025. The increase in hiring is driven by a focus on specialised skills catering to segments like AI, machine learning and data analytics.
Shareholders feel Cyrus Mistry is slowly slipping into Ratan Tata's shoes
Tata Consultancy Services, the $2 billion listed IT company from the Tata group is looking at expanding its global base by exploring untapped markets in Eastern Europe, Russia and China.\n\n
Investors' wealth fell by Rs 2.39 lakh crore on Monday in line with a weak trend in the global equity markets. The BSE Sensex tanked 861.25 points or 1.46 per cent to settle at 57,972.62. During the day, it tumbled 1,466.4 points or 2.49 per cent to 57,367.47.
US President Barack Obama has already backed the Bill that seeks to put curbs on the use of H-1B visa for those companies which have a higher ratio of work force under this category.
As he prepares to step down, Infosys chairman N R Narayana Murthy reflects on the company he built, the future of IT and the effects of globalization.
India's second-largest IT services firm, Infosys Technologies, has set up a separate unit within its business process outsourcing arm (Infosys BPO) to concentrate solely on the domestic BPO market.
'Both campuses and talent should brace for a low-velocity campus hiring season that might extend into the off-campus period.'
Large-cap plus in low-cost delivery, investment in new services adds to sectoral push
