The Nasscom Governance and Ethics Committe on Tuesday released its recommendations aimed at further strengthening corporate governance practices in the Indian IT-BPO industry.
Nasscom recently released its ranking of the top 20 IT-BPO organisations in the country that accounted for over 40 percent of the total employees in this sector.
Things are improving though. In the mid-eighties, for instance, only 5-8 per cent of students in engineering colleges and approximately 5-30 per cent of the population entering the IT industry were women. By 2005, 40.4 per cent of entrants into institutions of higher education were women. And women in the IT workforce grew 60 per cent in just two years--from 421,460 in 2006 to 670,984 in 2008.
The Indian IT-BPO sector, both in exports and domestic business, is expected to register a growth of 28 per cent in 2006-07 and revenues are likely to exceed $47.8 billion, nearly a 10-fold increase over the aggregate revenue in 1998.
A 10 per cent-plus movement of currency in a few weeks is definitely concerning for the companies.
Nasscom, the premier trade body of the Indian IT-BPO industry, on Wednesday said the aggregate revenues of the sector are expected to reach $60 billion by FY09.
More than 6,000 centres with headcounts of 10-100 have downed shutters across the country.
Software body Nasscom expressed its disappointment over the budget as it has no fresh proposals for the USD 100 billion Indian IT-BPO sector even as the industry's request to exempt SEZ income from Minimum Alternative Tax has been ignored.
The growing fear among software professionals is of getting infected while travelling to work in buses or cabs. And so, many IT-BPO firms have allowed their people to work from home if it fits their job profile. Some are planning to hire laptops to encourage employees to stay at home and work.
With the growing swine flu scare across the city, a number of IT-BPO service providers here are seeing up to 20 per cent drop in attendance.
Indian IT-BPO firms have stepped up investments by around 30-70 per cent on training and education of employees despite the economic slowdown.
The IT-BPO industry in India has achieved impressive growth rates over the past decade and stood at $71.6 billion in 2009, said the report prepared by KPMG and Asian-Oceanian Computing Industry Organisation.
Despite rising salaries, the country can sustain the cost advantage for another 10-15 years.
The sector, including domestic and exports segments, is growing at an estimated 28 per cent in FY07.
IT-BPO exports grew at a compound annual rate of 31.6 per cent in the boom years 2004-08. But the rate fell to 16 per cent last year (2008-09) and is likely to be in single digit in the current year.
Buoyed by steady recovery in demand for technology services, the Indian IT-BPO sector is estimated to grow 19 per cent in 2010-11 to $76 billion in revenues, software industry body Nasscom said.
The level of the opportunity in hand can be gauged from the fact that India (domestic + exports) accounted for approximately 5 per cent of worldwide technology products and services related spend of $1.5 trillion in 2009.
The US celebrates its independence day on July 4. But since it was Sunday, the American government had declared Monday as a holiday.
The Indian arm of the Union for Information & Technology Enabled Services is planning to file a public interest litigation against the alleged 'arbitrary policy' of many Indian and multinational IT/ITeS firms in India who have, for the past two months, reportedly been enforcing longer working hours that violate the daily eight-hour working mandate of the Indian Factories Act, 1948.
At present, at least, five over $500-million deals are being discussed for potential acquisition.
India's software services and IT-BPO exports would exceed $31 billion in the current financial year, posting a growth of 32.6 per cent over the last fiscal, industry body Nasscom has said.
Indian information technology and business process outsourcing (BPO) sectors may get almost $10 billion from Germany, Switzerland and Austria by 2020, up from the $2.6 billion they earn from this region across the IT, BPO and engineering services space, against the addressable market size of more than $53 billion.
Sify Ltd, the largest aggregator of bandwidth in India, is finding the going good for its BPO-specific Internet bandwidth solution in India.
White-collar hiring witnessed an 8.6 per cent annual decline in September, following a negative trend in sectors including IT, BPO or ITES and FMCG, a report said on Monday. On a month-on-month basis, however, there has been a growth of almost 6 per cent in job postings. In September, there were 2,835 white-collar job postings, down by 8.6 per cent compared to the same month last year when 3,103 jobs were posted, according to Naukri.com's monthly 'Naukri JobSpeak Index'.
Added bulk of rise in labour-intensive sectors for September quarter; export segments fuel increase across the board
The recent ruling by the Authority of Advance Rulings making back-office services provided by a company to global firms taxable under GST, has sent shockwaves through the information technology and business process outsourcing industry.
What does India need to do to realise the full potential that information technology and outsourced business services?
National Association of Software & Services Companies President Kiran Karnik has said that information technology and business process outsourcing industry in India is beginning to see an 'opportunity loss' on account of the rupee appreciation against the dollar.
Instead of making employees work for longer hours, should the IT industry come up with better plans to counter the crisis brought in by rupee appreciation?
Neelakandhan Mooss, chief physician, at Thrissoor-based Ashtavaidyan Thaikattu Mooss Vaidyaratnam Oushadhasala, speaks about the treatment for IT pros.
Employment in nine selected sectors, including construction, manufacturing and IT/BPO, was at 3.08 crore in the April-June quarter of 2021-22, reflecting a growth of 29 per cent compared to 2.37 crore reported in the Economic Census of 2013-14, according to a survey. Labour and Employment Minister Bhupender Yadav on Monday released the report of Quarterly Employment Survey (QES) part (April to June 2021), of the All-India Quarterly Establishment-based Employment Survey (AQEES) prepared by the Labour Bureau. Announcing the results, Yadav said the estimated total employment in the nine selected sectors from the first round of QES is 3 crore and 8 lakh approximately against a total of 2 crore and 37 lakhs in these sectors taken collectively, as reported in the sixth Economic Census (EC 2013-14) reflecting a growth rate of 29 per cent.
The Indian IT sector, which is doing exceedingly well going by the July-Sept quarter results, can sustain the momentum in the coming quarters as Indian IT firms enter new markets and gain business, experts say.
This year, the date falls on a Sunday, which is a holiday for most companies. But it has not deterred BPO firms from celebrating in advance.
To lure the business process outsourcing and IT/ITeS industry, the Mayawati government in Uttar Pradesh has showered various sops. The realty sector, too, has been blessed with many relaxations.
IT and BPO companies are looking at tier II locations in the country to support global delivery.
Buoyed by the initiatives taken by the government in the communication sector, UK telecom major, British Telecom, on Thursday said it would look at the option of starting services in India in IT and BPO sector.\n
India's second-largest software services company, Infosys Technologies, for instance, plans to hire close to 30,000 this financial year.
A union of IT and BPO workers has written to the Election Commission to halt the sale process of fraud-hit Satyam Computer until a new government takes over and current investigations being carried out by CBI reach a logical conclusion.
Useful tips on how to make a great career in the IT and BPO sector.
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