Most of the large Indian IT services players, such as TCS, Infosys, Wipro, and HCL Tech, have signalled increased offshoring efforts and opting for local hires in the US, primarily to address the immigration-related challenges.
An impulsive decision to resign could eventually turn out to be a big career mistake, warns Srividya Kannan.
Ajit Balakrishnan offers a thinking man's guide to the state of ecom in a nation of shopkeepers.
To be able to manage any such uptick, Indian IT services players are hiring more locals, and relying on hybrid work models.
With the economy gaining pace and large deals back on the table, chief executive officers (CEOs) of tech companies believe global tech spending will witness growth this year. According to CEO Survey by Nasscom, about 71 per cent chief executives expect global spend to grow over 4 per cent. The figure is significantly higher than the previous two years - 41 per cent and 59 per cent in 2019 and 2020, respectively. The survey also said the recovery in global tech spending will be led by the digital segment.
'If you want to be a global giant, you cannot position yourself as only a software services provider; you have to be a solution provider.'
'Pockets of mid and small-cap indices are showing exuberance and are discounting even FY23 valuations now.'
A bipartisan legislation has been introduced in the US House of Representatives to eliminate the per country cap on employment-based Green Card, a move which is likely to benefit Indian IT professionals languishing over decades of waiting for the Permanent Resident Card. The legislation was introduced by Congresswoman Zoe Lofgren and Congressman John Curtis. The Equal Access to green cards for Legal Employment (EAGLE) Act, 2021 needs to be passed by the Senate before it can be sent to the White House for the president to sign it into a law. A Green Card, known officially as a Permanent Resident Card, is a document issued to immigrants to the US as evidence that the bearer has been granted the privilege of residing permanently.
'We are anticipating that the hiring trend will continue to see double-digit growth at least for the current financial year.'
HCL Technologies on Monday said its founder Shiv Nadar will take on the role of Chairman Emeritus and Strategic Advisor to the company's board. Nadar, chief strategy officer and managing director of the company, on completing 76 years of age, has tendered his resignation as the MD as well as the Director with effect from close of business hours on July 19, according to a regulatory filing. "In order to continue to benefit from his vast knowledge, experience, and wisdom in an advisory role, the Board of Directors in its meeting held today, after considering the recommendations of the Nomination & Remuneration Committee, has approved the appointment of Shri Shiv Nadar as the 'Chairman Emeritus and Strategic Advisor to the Board' for a term of five years with effect from July 20, 2021," it added.
Bangar said the Shreyas Iyer-led side is the only team that can challenge Mumbai Indians.
A seasonally-strong quarter, with no immediate impact of the second wave and continued acceleration of digital transformation will allow the IT services sector to report a robust Q1 this financial year. However, key metrics to look out for will be attrition rate and margin lever as they will be impacted by salary hikes. Analysts expect growth for the quarter to be broad-based, with sectors like banking, financial services and insurance (BFSI), retail, manufacturing, hi-tech and life sciences driving revenue growth. Analysts across brokerage houses are pegging revenue growth in the range of 1.5 per cent to 4.5 per cent.
The US move to reduce the number of H1B visas to 65,000 from 195,000 will affect the Indian information technology industry in the long run, Kiran Karnik
The Indian IT industry will stage a "strong recovery" in 2021-22 with a revenue growth of up to 11 per cent, ratings agency Crisil said on Wednesday. The recovery will be led by increasing outsourcing and accelerating digital transformation services mainly in sectors such as banking, financial services and insurance (BFSI), healthcare, retail and manufacturing, it said. As per Nasscom, the IT services industry grew 2.7 per cent to $99 billion in 2020-21.
'There is no doubt at all that Jio's disruption of the mobile broadband market was a turning point for India's digital economy.'
A trainee of former Olympian shooter Suma Shirur, Avani Lekhara became India's first woman gold medallist at the Paralympic Games in Tokyo on Monday when she shot a total of 249.6 in the 10m Air Rifle Standing SH1.
US President Donald Trump has extended the freeze on the most sought-after H-1B visas along with other types of foreign work visas by three months to protect American workers, saying while therapeutics and COVID-19 vaccines are recently available, their effect on the labour market and community health has not yet been fully realised. The decision will impact a large number of Indian IT professionals and several American and Indian companies who were issued H-1B visas by the US government for the fiscal year 2021 beginning October 1. The freeze on various categories of work visas was ordered by Trump through two proclamations on April 22 and June 22 last year.
"Indians see religious tolerance as a central part of who they are as a nation. Across the major religious groups, most people say it is very important to respect all religions to be 'truly Indian'.
It is important that these events do not remain one-offs. It is crucial that India sets long-term targets, and not solely depend on foreign coaches from regions that continue to produce some of the finest talents in the world, asserts Arindam Roy.
Some foreign guest workers in the US will be able to re-submit their applications for the H1-B visa, the most sought-after non-immigrant visa among Indian IT professionals, if their petition was solely rejected because it was based on the initial registration period, according to a federal agency. According to the US Citizenship and Immigration Services (USCIS), such re-submission of applications is for those whose applications have been rejected or administratively closed solely because the requested start date was after October 1, 2020. The H-1B visa allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise.
While Wipro leads the pack on absolute numbers, analysts for Infosys for reporting consistent growth, revising FY22 guidance and beating TCS on revenue growth.
By maintaining that all Indians are tolerant, the Pew centre appears to have skimmed over the surface of its subject matter without delving deep, asserts Amulya Ganguli.
The Indian IT services sector is scrambling to retain talent since digitisation-led transformation has increased the demand for a digitally skilled workforce. As a result, the pull for jobs for tech professionals is also coming from non-IT sectors, leading to higher attrition among IT companies. The average number of tech jobs from non-IT sectors has seen a 41 per cent uptick in March-May'21 versus March-May'19, according to data from Naukri.com.
Serbia has become one of the transit points for Indians heading to Canada and the US. Canada requires passengers from India to take an RT-PCR test from a third country, while the US wants them to spend 14 days outside of India. As a result, many students are taking the Serbia route to Canada, and the US.
Despite the rise in visa application fee and increasing pressure from the US to hire more locally, the number of H-1B and L-1 visa holders at most of the top Indian information technology firms are expected to increase further.
The Tata group's tryst with mobile services, with either CDMA or GSM technology, did not really fly, forcing it to close operations and write off losses. Now the group is back in the big game, this time straddling the telecom equipment, network and technology space in India as well as the global market. To this end, it is leveraging the opportunities that flow from 5G technology through open radio access network, or O-RAN. Recently, the Tata Sons' subsidiary Panatone Finvest acquired 43.3 per cent in Bengaluru-based telecom equipment manufacturer Tejas Network for Rs 1,850 crore and announced it would buy another 26 per cent of the voting capital through an open offer.
These unicorns, or startups valued at over USD 1 billion, are across industries, beyond technology and tech-enabled sectors as well, like pharmaceuticals, and consumer goods, Credit Suisse India equity strategist Neelkanth Mishra told reporters in Mumbai.
Currently, TCS is India's second most valuable firm after Reliance Industries, which has a market cap of nearly Rs 12.9 trillion.
The sector will see a minimum of 3-5 per cent of the weight being shed in almost every IT company - particularly the big 20 - because of Covid and not performance-related issues.
Indirect emissions account for a major chunk of emissions by Indian IT firms. Business travel and commutation, together, are a key reason for it. If travel and daily commuting go down, so does carbon emissions.
The top four Indian IT firms have cash reserves of nearly $15 billion with TCS alone holding $5.9 billion in reserves, followed by Infosys with $3.6 billion, and Wipro with $3.4 billion. HCL Technologies has cash reserves of $1.75 billion.
Without exception, the top four majors beat Street estimates across all parameters - revenues, profitability, or net profit growth. However, what stood out were the large deal wins reported by the big two, TCS and Infosys.
The IT services giant is also slated to hold a board meeting on April 13 and 14, to approve of and take on record the consolidated financial results of the company for the quarter and year ended March 31, 2021. Indian IT majors will be announcing their fourth quarter (Q4) and 2020-21 results starting April 12. At the end of the Q3 FY21 Infosys had cash and investment of $4.5 billion.
In the last couple of months, top Indian IT services providers, including TCS, Infosys, Wipro and HCL Tech have announced setting up cyber threat management centres in the US and Europe.
Are we running a cricket match using football rules, asks Ajit Balakrishnan.
Combining affordable IT with native Indian ingenuity and entrepreneurship F C Kohli believed would enable Indian small businesses match anyone and thrive.
Attrition is driving the hiring effort on campuses.
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.
It was Ramkumar's best performance of the 2020 season for which he earned Euro 7200 as prize money and 60 points that will push him to 185 from 206 in the ATP singles ranking charts.
Called the US Citizenship Act of 2021, the legislation modernises the immigration system, and also proposes to eliminate the per country cap for employment-based green cards, a move that would benefit thousands of Indian IT professionals whose current wait period for legal permanent residency runs into several decades.
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