Jamshyd Naoroji Godrej and his sister Smita Crishna Godrej-controlled Godrej & Boyce will hold the exclusive construction rights over a vast land bank, including a prime 3,000 acre-property in Mumbai, they got as part of the family agreement that split the Godrej empire, as per sources and regulatory filing. According to the agreement reached late Tuesday, the 127-year-oldgets to keep what group will be split into two entities - one led by Adi Godrej and his brother Nadir and the other by their cousins Jamshyd and Smita.
Wipro Ventures is currently managed by Biplab Adhya and Venu Pemmaraju and has so far invested in 16 early to mid-stage start-ups. While 11 of these start-ups are in the US, four are in lsrael and one in lndia.
Telecom operator Bharti Airtel on Monday announced an agreement to acquire about 25 per cent equity stake in Bengaluru-based technology startup Lavelle Networks. Further, ASM Technologies, a global technology engineering and product development services provider, has done a follow on investment in Lavelle Networks. In a statement on Monday, Airtel announced the acquisition of about 25 per cent strategic stake in SD-WAN startup Lavelle Networks but did not disclose financial details about the deal that entails a cash consideration.
As the job markets open up, top IT services firms may look at a tiered strategy in which they hire entry-level talents at higher salaries, amid a major technological shift, say HR analysts.
India's top technology companies will witness a tepid revenue expansion in the third quarter (October - December) of the current financial year (Q3FY24) - along expected lines - on the back of furloughs and no blockbuster deals, even as the momentum gained from Generative AI (GenAI) is likely to take centre stage. IT services and consulting firm Accenture's first quarter numbers in FY24 showed a significant pick up in GenAI spending. It signed new bookings to the tune of $450 million in this space, a surge from the $300 million signed in the whole of FY23.
The move comes at a time when the traditional software maintenance and support works, once the bread and butter for export-driven IT services business, are slowly drying up.
Jobs specialising in the creation and management of AI tools may witness rising salaries due to the niche expertise they require. Skills in AI research, development and the practical application of AI tools in business settings will also see strong demand.
The 2.1 percentage point reduction mainly reflects the impact of recent fluctuations in US dollar exchange rates.
Over 100,000 small and medium-sized businesses are non-compliant with e-invoicing norms under the goods and services tax (GST) regime, a mandatory requirement for businesses with an annual turnover of over Rs 5 crore. E-invoicing provides real-time access to invoices that are prepared by the supplier on the purchase of goods, allowing faster accessibility to input tax credit, thereby limiting the manipulation of fake credit as it has to be generated before the transaction. "The default has been reported mainly in businesses with a turnover between Rs 5 crore and Rs 20 crore," a senior official informed
Capitalism, grounded in the twin pillars of a free market and entrepreneurship, is the singular solution to addressing the issue of poverty in India and any country, N R Narayana Murthy, co-founder of Infosys, said during a fireside chat moderated by Nikhil Kamath, co-founder of the brokerage platform Zerodha. "The government should function as a fair and transparent regulator. "On the entrepreneurs' side, they must recognise themselves as evangelists for capitalism.
Bengaluru has emerged as the world's fastest-growing mature tech ecosystem in the world since 2016, followed by the European cities of London, Munich, Berlin and Paris, with India's financial centre of Mumbai in sixth place, according to new research released in London on Thursday.
Senior bankers point out that while they will eventually attract qualified professionals, onboarding them takes time.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
'In India, the GenAI startup ecosystem is unfolding with remarkable speed, signalling a new era of technological advancement and investment opportunities.'
India is expected to overtake the US as the largest developer community on GitHub by 2027, Microsoft chairman and chief executive officer Satya Nadella said during his address to 1,100 developers and technology leaders at the Microsoft AI Tour in Bengaluru on Thursday. India is the fastest-growing market on GitHub, a Microsoft-owned software development platform, with 13.2 million developers using it.
India's third largest IT company HCL Technologies on Friday reported a flat year-on-year growth in net profit in the March quarter at Rs 3,986 crore. However, the company posted an 8.4 per cent decline in net profit on a sequential basis, amid rising employee cost and tightening IT spends around the world. The company described the performance as "decent" in view of the global macroeconomic conditions.
Tata Consultancy Services (TCS) on Thursday said it plans to invest more than $100 million in Austin and hire 1,000 new employees across Texas. TCS has expanded its business operations in Austin, Texas with the construction of a new facility, doubling its presence to more than 400 professionals in the city and adding to its over 5,500 employees across the state, TCS said in a statement. The new facility will officially open in late December 2020 and have space for 367 employees, it added.
Tata Sons chairman Natarajan Chandrasekaran was paid Rs. 113 crore as remuneration for 2022-23 (FY23), including Rs. 100 crore as commission on profit. Chandrasekaran, 60, often referred to as Chandra, received a remuneration of Rs. 109 crore in 2021-22 (FY22). With this, Chandra has emerged as one of the highest-paid chief executive officers (CEO) in Corporate India for FY23.
India's IT and business services market is expected to grow 5.4 per cent annually to reach $13 billion by December this year, research firm IDC said. The segment grew 5.3 per cent year-on-year (y-o-y) in January-June (H1) 2020 period as compared to 8.9 per cent growth in H1 2019, IDC said in a report. Of the IT and business services market, the IT services market contributed 77.4 per cent in H1 2020, growing 5.9 per cent y-o-y as compared to 9.3 per cent growth in the year-ago period.
'Business families like the Godrej group are increasingly realising that an amicable settlement is better.' 'Else, the wealth of all shareholders gets destroyed.'
An initiative of Nandan Nilekani's EkStep Foundation, people+ai on Tuesday unveiled its vision for the future of Artificial Intelligence (AI) in India, dubbed 'Adbhut India' (Amazing India). It aims to harness AI as a powerful tool to enhance the lives of all Indians. The event marked the rollout of several initiatives by people+ai that are focused on discovering, demonstrating, and disseminating population-scale AI use cases for India.
Rapidly changing geo-political scenarios such as the ongoing Russia-Ukraine war have made a significant impact on cybersecurity. Despite their best efforts, cybersecurity teams of enterprises may not be able to plug all vulnerabilities, according to a report by Indusface, a software-as-a-service security firm.
'As long as businesses do not consider cyber recovery an integral part of their enterprise IT, they remain greatly vulnerable.'
'Everybody thought I was crazy to quit my job and jump into entrepreneurship.'
I started my journey as the CEO of this iconic company with a mission to transform it on the basis of software, especially (artificial intelligence), and innovation, enabled by education. Three years later, I feel proud of our progress and achievements: Vishal Sikka.
In one of the biggest deals in the outsourced product development (OPD) market, audio and infotainment systems maker Harman International Industries will buy Indian-born serial entrepreneur Romesh Wadhwani's Symphony Teleca for $780 million (about Rs 4,800 crore at Friday's exchange rate of 61.4).
Indian firms selling SAAS products have got a bonanza as companies meet, manage and sell remotely. The top five firms - Zoho, Freshworks HighRadius, Druva, and Icertis - account for 33 per cent of the market share. Chennai, India's SAAS centre, alone generates $1 billion in annual revenue. Yuvraj Malik explains how these companies are planning their next phase of growth.
While the corporate sector has benefited from massive capital expenditure, leading to sky-rocketing stock prices, investors would do well to keep an eye on the macroeconomic picture and government finances, not just corporate profits, for signs of trouble, alerts Debashis Basu.
'SAP has been an enterprise software leader for 43 years, and we don't have a competitor also in this space.'
Funding winter and corporate governance woes separated the men from the boys in the country's startup space in 2023 that saw funds into the segment tapering to just around $8 billion. All said, investors are hopeful of strong growth of the maturing startup ecosystem in the new year. Edtech and health tech segments that grew exponentially during the pandemic plunged into an abyss of financial uncertainties, with several firms shuttering their business, and valuation of prominent players like BYJU'S and PharmEasy plummeting 85-90 per cent.
Amazon Prime Video has announced a huge number of assorted Web series and movies, and the slate sure looks interesting.
How do you avoid being laid off? If you have been let go, what should you do next? Ask rediff Career Gurus to find out.
Sapience offers an innovative solution to measure the productivity of office and mobile workers, with almost no manual inputs from managers or employees, says Romita Majumdar.
Microsoft India on Tuesday said it has collaborated with Invest India to support tech startups in the country. As part of the partnership, the Microsoft for Startups programme will work closely with Accelerating Growth of New India's Innovations (AGNIi Mission) - a programme of the Office of the Principal Scientific Adviser to the Government of India, a statement said. Housed and executed by Invest India, AGNIi Mission helps startups become enterprise-ready.
Shravin Mittal's venture capital firm, Unbound Advisors, has made investments worth over $500 million so far
The cloud market in India is expected to grow by 26% by the end of 2022.
In January, the company had decided to hand the charge of M&A to Suri.
