The Customs clearance required for moving equipment like laptops, desktops, etc out of SEZ units was delaying things as the clearance had to be taken in person after a first level of approval online.
India will emerge as the global leader in the services sector in the next few years not only in the software sector and IT-enabled services but also in health, design, engineering, education and maintenance,
The information technology and IT-enabled services sectors are expected to grow 12-14 per cent and clock export revenues of $84-87 billion in the next fiscal, industry body Nasscom said.
Budget expectations 2013: IT sector.
Of the 10 lakh jobs that will be available in 2013, manufacturing and healthcare dominate the list of hiring sectors, while those looking for a job in the IT and IT enabled services may find it relatively harder, revealed hiring experts.
The Finance Minister is slated to announce on Thursday the budget proposals for the next fiscal.
Seed and early-stage start-ups are high-risk businesses, rarely have collateral and only 1 in 10 of them makes it to becoming a viable company.
The new rules will bring down people's mobility and as a result flexibility in scaling businesses
"We have decided not to allow people from Gujarat, Maharashtra, Kerala and Tamil Nadu till May 31, but allowed in stages (staggered manner)," the CM said said.
However, Bengaluru is on a high with the share of IT/ITeS in the total office space transaction rising from 55 per cent in 2011 to 75 per cent till May 2012, according to data by DTZ, an international real estate research firm.
One effect of the globalisation of Indian business has been the rise in the grant by companies to staffers of employee stock options.
Companies say low-cost skilled resources, low real estate cost and low attrition are the driving factors.
IT companies would be entitled to the same tax benefits as SEZ developers.
Fresh guidelines issued by the Union home ministry on Wednesday permit industries operating in rural areas to run from April 30 with strict social distancing norms.
A National Association of Software and Services Companies study done by McKinsey suggests that the industry has quadrupled its gross domestic product contribution to four per cent, contributed to 45 per cent of all incremental urban employment created in the last 10 years, employed over two million people and gave impetus to new entrepreneurs, and increased the number of tertiary education institutions in the country.
Three years after B Ramalinga Raju, the disgraced founder and chairman of Satyam Computer, announced the project, Mahindra Satyam dropped the project and surrendered the 26 acre-land to the state government.
According to Grant Thornton's January data, IT & ITeS tracked the highest in terms of value, with the industry investing $1.2 billion in M&A over 12 deals.
The Union home ministry has issued strict guidelines for the enforcement of the 21-day complete nationwide lockdown in the wake of the covid-19 pandemic, invoking the National Disaster Management Act which may result in imprisonment of up to two years for any violation. All government offices, the offices of state and Union territory governments, autonomous institutions, public corporations, commercial, private, industrial establishments shall remain closed, the guidelines issued by the ministry said.
Khoday India Ltd decided to increase in authorised share capital to facilitate carrying on its IT enabled services business.\n\n\n\n
India's minister of communications and information technology speaks to Ajit Jain in Toronto.
The highest salary rose by 14.22 per cent from last year.
Wipro Ltd, a provider of IT solutions and services including systems integration, information systems outsourcing and IT-enabled services, says it has not been affected by the crisis in West Asia and will continue to invest in the region. Wipro already has a company -- Wipro Arabia, formed in 2007 through a joint venture with the Dar Al Riyadh Group -- providing IT solutions and services in the Kingdom of Saudi Arabia.
Shanmugam Nagarajan, co-founder and chief people's officer, 24/7 Customer, feels young grads should not feel disheartened because of the current economic downturn.
India Inc's hiring activity picked up 1.5 per cent in March, led by IT-enabled services, insurance and auto sectors, a report by job portal naukri.com has said.
'Zero Day' visitors like Maruti Suzuki, TVS, Tata Motors, Hero MotoCorp, Ashok Leyland and Bajaj Electricals are visiting fewer campuses.
To position Bhubaneswar as a sought after IT destination, Orissa needs to build a world class workforce for IT and BPOs, ensure digital acceleration and focus on upgrading social infrastructure to attract global IT citizens. This was pointed out by Ganesh Natarajan, chairman, NASSCOM at an IT conclave on Destination Bhubaneswar.
Shyam Ponappa on concepts that may help in developing convergent policies for growth.
Lokendra Tomar, chief operating officer of India's largest integrated KPO, Integreon, talks about career opportunities for young grads in the sector.
IT, e-commerce firms to raise the bar in recruitment, packages.
The slowdown in the information technology sector has resulted in reduced demand for office space in India in the second quarter of the current financial year, says a report by global real estate consultancy CB Richard Ellis.
Despite the recessionary phase hitting the bottom-line of the country's IT sector, the northern region appeared to have remained insulated as total IT exports from this region grew by a whopping 30 per cent, with Infosys becoming the top exporter.
The West Bengal government on Monday introduced two amendment bills in the state Assembly to boost investments in the state.
Corporate India's hiring activity saw a decline in April, with the business process outsourcing and IT enabled services industry registering the sharpest drop of 22 per cent, a report by job portal said.
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.
National Association of Software and Services Companies has raised the issue of lack of employability of engineering graduates in IT and IT enabled Services sectors, Minister of State for Human Resources Development D Purandeswari said in a written reply to the Lok Sabha.
Insurance companies have started offering IT, IT-enabled services, business process outsourcing and non-manufacturing companies with policies due for renewal on January 1 discounts of more than 60 per cent.
During the quarter, venture capital firms have invested $144 million through 21 deals, a sharp decline compared to the corresponding period previous year which had recorded 28 deals worth $173 million. The maximum VC investment was attracted by online travel portal Cleartrip.com of about $18.5 million from DAG Ventures.
"The German market so far has been largely unexplored by Indian IT companies and they should make serious efforts to enter the market and to consolidate their existing presence because the business opportunities in this country are immense," said S R K Prasad, who led the delegation to Frankfurt on a two-week tour said.
Not a single Indian insurance company offers a comprehensive anti-cybercrime policy for the corporate sector. In India there are few takers for cybercrime insurance primarily because of the high cost vis-a-vis their exposure. These policies are of a high value and, on request from a few brokers, are customised for banks. Cybercrime policies in the US cover e-theft, denial or impairment of e-service, e-communication, e-vandalism, e-threat and fraudulent e-signatures.
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.
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