'These companies hired in high numbers last year and are balancing that out this year by recruiting fewer freshers.'
US is the largest market for the over $140 billion Indian IT services industry
For the $60 billion Indian IT services industry, the US is the biggest market with almost 50-60 per cent of revenues coming from it.
United States Border Security, Economic Opportunity and Immigration Modernisation Bill, 2013 has not yet been enacted.
Though global IT services spending is likely to cross the $1-trillion mark to reach $1.031 trillion, growth rate will slow to 3.8% in 2019, compared to 6.7% last year according to reports
A group of influential lawmakers have introduced a bipartisan legislation in the US Senate to comprehensively overhaul the H-1B and L-1 visa programmes and usher in more transparency in the recruitment of foreign workers. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise. Technology companies depend on it to hire tens of thousands of employees each year from countries like India and China.
"I replied with a proud smile 'because we are Indians' after I overheard the Heathrow staff wonderingly asking his mate how can they afford 1st class?" Shah tweeted on Tuesday.
Companies say they have ensured that services to clients remain unaffected.
The report by the reseach firm calls this double-digit growth as a welcome news for technology vendors - who see slackness in the US and European markets, and advises them to now recognise India as a consumer of IT than just a supplier. The report -- the State Of A-PAC Enterprise Technology Adoption: 2008, gives highlights of data collected from 777 companies in the Asia Pacific region via Forrester's Enterprise Technology Adoption Survery (Asia Pacific, Q4 2007).
Concerns have been raised over rising unemployment in the US and Obama's visit to India was expected to see issues around outsourcing being discussed.
Browbeaten by recession and anxiety about mounting protectionism in key markets have led Indian information technology (IT) companies to extend their reach in the countries of Africa, the West Asia and Asia Pacific.
The cyber crime division have booked the BJP state unit chief under sections of inciting violence and promoting enmity between groups among others.
The apex body representing Indian IT industry, Nasscom, on Wednesday said that small and medium enterprises (SMEs) would drive growth in the sector and help India maintain its lead globally.
Gartner is of the opinion that Indian IT industry will not suffer a slowdown, even in face of US recession.
A slowdown in hiring by India's top IT companies has resulted in a sharp increase in the industry's profit per employee in Q3FY23. The top four IT companies earned a net profit of 1.7 lakh per employee during October-December 2022, up 8.6 per cent from Rs 1.57 lakh in Q2FY23 and 16.3 per cent from a record low of Rs 1.47 lakh in Q1FY23. Earnings per employee in the third quarter were, however, still down 0.9 per cent on a year-on-year (YoY) basis.
If the measure passed by the United States Senate to virtually double the fees for issuing visas to temporary skilled workers eventually passes into law, it will be harmful to virtually everyone concerned.
The Blue Card plan, if passed, would allow suitably qualified people and their families to live and work within the EU. The EU says it needs 20 million skilled workers over the next two decades and is very short of expertise in engineering and computer technology.
The proposed increase is almost double from the present fee.
Facebook's parent company Meta announced on Tuesday it will fire another 10,000 people, implementing a second round of jobs cuts after it slashed 11,000 positions in November last year, to improve its financial performance in a "difficult environment". Meta founder Mark Zuckerberg said in a post that overall "we expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven't yet hired." The company has said that in its "Year of Efficiency", the company aims to make itself "a better technology company and to improve our financial performance in a difficult environment so we can execute our long-term vision."
"The opportunity that we have ahead of us is much more than what we have seen in the past," says Natarajan Chandrasekaran.
Amid mass layoffs in the tech sector, the federal agency for immigration services has said it is wrong to assume that sacked workers holding the much-sought-after H-1B visas have to leave the country within 60 days, asserting they have multiple options to stay in the US. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise. Technology companies depend on it to hire tens of thousands of employees each year from countries like India and China.
Most Indian IT firms, including TCS, Wipro, Infosys, Mindtree, Infotech and Sasken, which started their operations in the region with a small base, have expanded their base fast.
Archer underwent four operations in a span of 15 months to regain full fitness. He suffered a freak finger injury in 2021, followed by two elbow operations before treating a stress fracture on his lower back.
Indian IT firms still have a way to go before they can stand up and be counted among the global giants.
IT major TCS CEO Rajesh Gopinathan has reigned, and the company nominated its global head of the BFSI division K Krithivasan as the CEO Designate with immediate effect, the firm said on Thursday. Gopinathan will continue with the company till September 15, 2023, to provide transition and support to his successor.
Big Indian IT companies, heavily reliant on the US market and eager to diversify, have intensified efforts to crack continental Europe.
All the top three major Indian IT firms -- Tata Consultancy Services, Infosys Technologies and Wipro -- either met or beat market and analyst expectations in the quarter ended September 30, 2009, registering their best performance in six quarters.
The GSD model has proven itself across areas such as custom software development, IT infrastructure support, call center services (and other similar business process outsourcing services), application implementations, and now PDS.
'Sector funds like IT funds should be included only in the satellite portfolio.' 'Limit your exposure to IT sector funds to around 5-10 per cent of your equity portfolio.'
Kumar was given a discharge not amounting to an acquittal on Thursday.
According to experts, while allegations against Indian IT firms of visa misuse are nothing new, this time the scrutiny could be much greater.
Moody's Investors Service on Wednesday affirmed the ratings of two major Indian IT services companies, Tata Consultancy Services Limited (TCS) and Infosys. In two separate statements, Moody's also retained stable outlook for both the companies. Moody's expects Infosys' revenues to climb by around 13 per cent for the financial year ending March 31, 2023, but moderate to around 8 per cent in the next 2024 fiscal.
Tanvi Marupally from Conway, Arkansas was last seen in her neighbourhood on January 17 when she left for school on the bus, the Conway police department said.
Kamath, who succeeded N R Narayana Murthy at the Bengaluru-headquartered, Nasdaq-listed firm, nearly a month ago, said Infosys is a well-established company with processes which are clearly defined, and his role would be what is expected of an independent non executive board chairman, namely governance oversight.
Indian IT workers are flooding Britain on temporary permits, undercutting local wages and raising prospects of a homegrown skills shortage, an IT association has claimed.
IT industry hiring big time, but quality concern persists.
Indian IT majors like Tata Consultancy Services, Wipro and Satyam Computer Services -- which have running multi-million dollar deals with General Motors that has filed for bankruptcy -- are likely to face a short-term impact since any loss of business in these slowing economic conditions is a setback.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances