Coming under tremendous pressure from the anti-immigration lobby, the US government plans to restrict entry of foreign IT workers, including those from India.
Like India's '83 World Cup campaign itself, the movie looks like a rollicking ride, notes Deepti Patwardhan.
Software exporters TCS, Infosys and Wipro on Friday said they have little exposure in Dubai and do not see any adverse impact due to the emerging financial crisis there.
AI and machine learning will only continue to grow in 2022, with a significant increase in the demand for such roles, notes Sekhar Garisa, CEO, Monster.com.
India's fifth largest software services firm Tech Mahindra will acquire global network services firm Lightbridge Communications Corporation (LCC) in an all-cash deal worth $240 million (over Rs 1,486 crore).
Watts Humphrey, noted software expert from US, on Wednesday predicted a bright future for the Indian software industry, but feared that there was likely to be a shortfall of nearly 250,000 software professionals by 2008.
In yet another immigration-friendly move that would benefit thousands of Indian-American women, the Biden administration has agreed to provide automatic work authorisation permits to the spouses of H-1B visa holders, most of whom are Indian IT professionals.
A fresh wave of foreign business is rolling in for India's software industry, where low salary costs and a skilled, English-speaking workforce have made the country a world leader.
IT industry body Nasscom on Thursday said the sector continues to be a net hirer of skilled talent, and that the top 5 Indian IT companies are planning to add over 96,000 employees in 2021-22. The statement comes in the backdrop of a report by Bank of America that said domestic software firms are set to slash 3 million jobs by 2022 as automation gains pace across industries, especially in the tech space. "With the evolution of technology and increasing automation, the nature of traditional IT jobs and roles will evolve overall leading to creation of newer jobs. "The industry continues to be a net hirer of skilled talent, adding 1,38,000 people in FY2021," Nasscom said in a statement.
Nandan Nilekani on how IT modernised India's stock exchanges.
Infosys has emerged as the fastest growing IT services brand following 52 per cent brand value growth since last year and 80 per cent since 2020 to $12.8 billion, earning it third spot, the brand valuation consultancy said in its latest Global 500 IT Services Ranking report. TCS and Infosys have pushed IBM to fourth spot from second. IBM's brand value now stands at $10.6 billion, a decline of 34 per cent from last year and 50 per cent since 2020.
'Goa is a tiny state, but in terms of its Business of Politics, several powerful lobbies of India are involved in it, be it the mining lobby, hoteliers' lobby, casino lobby, hawala lobby, drugs lobby etc.'
As the industrial era wanes, the network era looms, notes Ajit Balakrishnan.
World Championships bronze medallist Lakshya Sen and men's doubles combination of Chirag Shetty and Satwiksairaj Rankireddy registered contrasting victories to reach their first Yonex-Sunrise India Open 2022 final, while PV Sindhu was knocked out, in New Delhi on Saturday.
India is in dire need of cybersecurity professionals. With several recent incidents of data breach, India's cybersecurity journey so far proves this demand. But is the country ready to meet this demand and is it preparing a cybersecurity workforce for the unforeseen cyber future? A report titled "India Cybersecurity Services Landscape" by Nasscom-Data Security Council of India (DSCI) predicts that the Indian cybersecurity services industry would grow at a compound annual growth rate (CAGR) of about 21 per cent to touch $13.6 billion by 2025. And by 2022, the industry, which generated a cumulative revenue of about $4.3 billion in 2019, is expected to grow to $7.6 billion. However, around 3.5 million jobs in the cybersecurity space will remain unfilled by the end of 2021.
Blockchain's promise: Dramatically speeding up transactions, explains Ajit Balakrishnan.
Carrier International Mauritius Ltd and Global Investment Ltd are looking to buy over 45 lakh shares in domestic IT services firm Infotech Enterprises, for nearly Rs 162 crore (Rs1.62 billion).
Such a move, Obama argued would attract larger foreign direct investment to the US.
Bullish on increased outsourcing by the US IT firms from India, the domestic software firms view as "positive" or of "little impact" last week's decision by the US to reduce H-1B visa issued to workers in technology industry to 65,000 from 195,000.
'This micro-finance sector has seen a tremendous upsurge in the recent time. There is a huge potential in this domain'.
Reopening the country to people seeking green cards, or legal permanent residence, Biden in his proclamation on Wednesday said that the policy of former US President Donald Trump does not advance the interests of the United States.
Veteran India speedster Mohammed Shami has recovered from his niggles and is fit to play the final Test against England in Manchester, starting September 10.
Sunrisers Hyderabad's pace sensation Umran Malik clocked 152.95kph to bowl the fastest delivery of IPL 2021, during their match against Royal Challengers Bangalore in, Abu Dhabi, on Wednesday.
IT firm 3i Infotech on Monday announced acquiring 51 per cent stake in US-based Professional Access and Indian business intelligence solution provider 'E enable' for a total consideration of close to Rs 60 crore (Rs 600 million).
Malaysia told India on Tuesday it will investigate accusations by Indian software professionals that police mistreated them during a raid to catch illegal workers earlier this week.
Indian IT services companies are likely to post a 9-12 per cent revenue growth in USD terms in FY22, helped by the strong demand for digital deals, a report said on Tuesday. However, the same will not translate into profits, because higher salaries will result in the operating profit margins for the same set of companies to come at 23 per cent from 24.2 per cent in FY21, domestic rating agency Icra said. The IT sector is one of the few sectors that have not been deeply impacted by the pandemic.
India's second largest IT services company Infosys on Wednesday said its consolidated net profit grew by 11.9 per cent to Rs 5,421 crore for the September 2021 quarter. Infosys had clocked a net profit of Rs 4,845 crore in the same period last fiscal, according to a regulatory filing. The Bengaluru-based company saw its revenues rising by 20.5 per cent to Rs 29,602 crore in the quarter under review (Q2FY22) from Rs 24,570 crore in the year-ago period.
Wipro founder-chairman Azim Premji believes the Indian IT industry revenues will grow in double digits in the current financial year. Throughout the pandemic, which saw lockdown measures to curtail the spread of the virus, the information technology industry has kept the world running and has also adapted to the changes, Premji said, speaking at an event of the Bombay Chartered Accountants' Society on Tuesday evening. As per Nasscom, the IT industry revenues stood at $194 billion in FY21. The lobby group has ceased giving estimates of the topline growth a few years ago.
The adoption of Information Technology by the companies in India is expanding rapidly with domestic market expected to grow to $4.3 billion in 2005-06 from $3.5 billion in 2004-05, according to IT industry body Nasscom.
Wipro Chief Executive Officer Thierry Delaporte drew a pay package of $8.7 million (around Rs 64.3 crore) in the financial year 2020-21, according to a regulatory filing. Delaporte's compensation is for the period from July 6, 2020, to March 31, 2021, and includes components such as a one-time cash award, annual stock grant and one-time grant of RSUs (restricted stock units). The former Capgemini executive had joined the Bengaluru-headquartered Wipro as its chief executive officer and managing director on July 6, succeeding Abidali Neemuchwala.
Business executives are finally dusting off their long-unused suitcases to resume travel, thanks to a good vaccination rate, a drop in fresh cases, and an easing of travel restrictions. It comes as a huge relief for the ravaged aviation, travel and hospitality sectors. "We are witnessing a 40 per cent recovery on pre-covid volumes from our business travellers, signalling the return of corporate confidence in air travel," said Indiver Rastogi, president & group head, Global Business Travel, Thomas Cook (India) & SOTC.
The Biden administration has indicated that it is still undecided on ending the Trump-era ban on issuing new H-1B visas, with the Homeland Security Secretary Alejandro Mayorkas asserting that the US government's top priority is the acute needs of individuals fleeing persecution. The H-1B visa, the most sought after among Indian IT professionals, 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.
Trent Boult, who has played 73 Test for New Zealand, said he expects a bit of banter between the rival players since they are all familiar with each other due to the Indian Premier League.
Shares of HCL Tech hit a fresh record high of Rs 1,118.55 on Friday, up 2 per cent on the BSE in intra-day trade, surpassing its previous high of Rs 1,101 touched on Thursday in intra-day deals.
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