Indian IT (information technology) firms are not unduly worried about the rupee rising against the dollar, at least for now.
'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.'
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.
However, the Indian market is not in good shape, he said.
In fact, firms like NIIT Technologies and EXL Services are already reaping the benefit of the first- mover advantage with over 20 per cent of their revenues coming from non-linear business in the quarter ended September 30. A non-linear business' focus moves away from the tendency to measure growth on the basis of headcount or the concept that the more the number of people working, the more the revenue.
India's cash-rich promoters are not the same as the wealthiest. For example, Mukesh Ambani is the richest Indian based on his stake in Reliance Industries, followed by Premji, the Adani family of the Adani group, and Radhakishan Damani of Avenue Supermarts.
IT firms are training employees of their clients and even aspiring IT professionals, in order to create fresh revenue streams amid shrinking deal sizes in traditional software maintenance, says Ayan Pramanik.
At times of slow growth, India has seen number of graduates doubling since 2008 to almost 25 million in 2016
An investment worth Rs 1,000 in Reliance Industries' initial public offer about 35 years earlier is now worth Rs 778,000, said its chief, Mukesh Ambani, on Thursday.
Infosys has drawn up a vision to position itself as a next generation services company.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Wipro Chairman Azim Premji is amongst Fortune magazine's list of 25 most powerful business leaders outside the United States.
The Oriental Bank of Commerce has tied up with Infosys and Wipro for centralised banking solutions to provide customers with "anywhere anytime" services.
The 12-member team includes seven senior executives of MindTree, including Soota himself, three from Wipro and one from Infosys.
The rupee, which rose by over 12 per cent against the dollar this year, has slowed down the hiring plans of companies like Infosys, Satyam and HCL Technologies and also put pressure on their margins. Country's top software exporters -- TCS, Infosys, Wipro, Satyam and HCL Technologies have added 25,801 employees in the second quarter of 2007-08, against 27,000 in the second quarter of last fiscal.
The total value of India's top 100 brands has increased by 2 per cent, from $162.1 billion in 2020 to $164.9 billion in 2021, according to the latest Brand Finance India 100 2021 report. This uplift in brand value over the course of the first year of the pandemic is an impressive feat given the global economic crisis following the implementation of national lockdowns in March 2020, when business activity was brought to a halt, affecting both production and consumption. Among the brands that came on the top of the list include Tata Group, Reliance Industries, and Mahindra Group.
Infosys Technologies and Reliance Industries have emerged as 'India's most respected companies' in a survey conducted by IMRB International, based on a nationwide peer-perception survey.
The India information technology industry, including exports and domestic market and semiconductor industry, is gaining traction despite challenges, said Azim H Premji, chairman, Wipro, at the third Freescale Technology Forum in Bangalore on Monday.
Investors will look at how TCS has performed when it announces the quarter's results on October 13, and the forecast from Infosys on October 14
In the quarter, Cognizant's revenue grew one per cent over the past quarter in North America.
Blame it on improved business climate, restructuring within companies or just the basic need to pursue better opportunities -- the Indian information technology industry is seeing heavy churn at the top.
The information technology sector in West Bengal is likely to see addition of 20,000 jobs in 2008. The state currently has about 300 small to big sized companies and employs 55,000.
TCS is setting up a large BPO operation in Varanasi next year, some staff could be absorbed there
AI, cloud computing, data analytics are a few areas companies are looking for proficiency in
The Durbin-Grassley Bill might have fallen through but large Indian information technology service providers are taking no more chance of being seen as job snatchers in the US.
There is a surge in number exploring a change at middle and senior levels; recruitment agencies cite restiveness on pay, work patterns.
Experts are of the opinion that though digital services hold the future, the companies are likely to take a hit during the transition period.
A copy of the letter dated February 29 was released to the media.
The six IT majors -- TCS, Infosys, Wipro, Satyam, HCL Technologies and Congizant -- along with two BPO giants Genpact and WNS are recording a yearly growth rate of over 40 per cent, according to technology consultancy firm Everest Group. Apart from these big names, all the other smaller players are struggling at a growth rate of around 20 per cent a year, Everest Group CEO Peter Bendor-Samuel told PTI.
The combined profit before tax of 748 companies, which have declared their results for Q1FY21, is down 46 per cent YoY. Their net sales went down by a quarter as the Covid-19 lockdown led to a sharp fall in economic activity.
'Kindly advise about the following stocks. Can I hold or exit?'
Headhunters and industry veterans reckon that as the job market opens up, the demand for non-engineering and other non-technical students is expected to be more than that was seen in the previous years.
India's booming IT and ITeS sector is estimated to have hired 3,80,000 people during the current financial year as demand for technology talent gained further momentum, officials said.
Focus has to be a lot about self-learning, says Nasscom Senior VP Sangeeta Gupta.
IT services market in the country grew at a slower pace of 7.4 per cent to Rs 22,826.2 crore ($ 3.76 billion) in the January-June 2014 period, mainly due to political and economic uncertainty amid Lok Sabha polls, research firm IDC said.
Leading Indian and global information technology firms such as Tata Consultancy Services (TCS), Cognizant Technology Solutions, IBM, Satyam Computer Services and Wipro top the list of L visa users for the financial year 2006-07.
After last year's lull, number of offers jump by 15%.
They need to upgrade their skills and become smaller, smarter organisations, says Devangshu Datta.
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