The most optimistic scenario is that when it is all over and the global economy is back on even keel, the Indian leaders will be stronger than they are now by virtue of having cut costs and acquired market share in the interim. India's three big IT firms Infosys, Wipro and TCS -- have added significant new clients and announced multi-year, multi-million dollar deals.
Angry over using his face in a mobile phone application without permission, veteran Australian batsman Ricky Ponting is mulling to sue an Indian software company, according to reports.
An e-mail threatening to blow up major information technology firms in Bengaluru has created a flutter in the city. While security has been increased at all IT installations in Bengaluru, the police have traced the mail to a youth in the Bharatinagar area of the city.
With the world getting more and more instrumented with smart devices, global enterprises are increasingly looking at undertaking a 'digital transformation' journey to stay ahead in the race. Emerging technologies such as social, mobility, analytics and cloud have given birth to new business opportunities and forcing enterprises to finetune their IT buying decisions -- quite differently from what they used to do.
Faced with competition from low-cost locations and inefficiencies associated with unwieldy growth in head count, Indian IT companies are exploring non-linear growth strategies.
According to Jagat M Sarkar, head of HR, e-Rev Max, a product company which has its main development centre in Kolkata and presence in 60 countries, "In the given scenario, there will be increased focus on getting quality manpower. Salary hikes too would be hit. Those on the bench and non-performers are jittery too as companies plan on pink slips.
With the terror attacks targeting even the IT companies of the country, the sector on Thursday beefed up security in campuses in other major cities even as several of them downed shutters in the financial capital.The TCS House, main office of India's top software exporter, located close to Chhatarpati Shivaji Terminal and one of the targets of the terrorist attacks, remained closed.
Companies say it helps them save on consultant fees and reduces the recruitment life cycle. Companies pay consultants close to 20 per cent of the annual package of a person provided by them as their fee; incentives paid to the company's employees for bringing a candidate is comparatively paltry. Besides, companies believe the buddy system gets them the right person who is in sync with their culture, which becomes more significant in turbulent times.
His attack on the government came days after Indian Army personnel clashed with Chinese soldiers in the Tawang sector in Arunachal Pradesh.
To attract people from tier-1 colleges IT services companies must increase payment to freshers: Mohandas Pai.
The Supreme Court on Thursday asked the Sebi to probe within two months allegations of stock price manipulation by the Adani group and any lapses in regulatory disclosures, and also set up a panel to look into protection of Indian investors after a damning report by a US short seller wiped out more than USD 140 billion of the conglomerate's market value. The top court while directing the setting up of a six-member committee headed by former apex court judge Justice A M Sapre for the assessment of the extant regulatory framework and for making recommendations to strengthen the process said it was appropriate to set up such a panel of experts in order to "protect Indian investors against volatility of the kind which has been witnessed in the recent past". The court-appointed Justice Sapre panel, which will be provided assistance by the Centre and other statutory agencies including the Sebi chairperson, will have to submit its report in a sealed cover within two months, said the bench which comprised Chief Justice D Y Chandrachud and Justices P S Narasimha and J B Pardiwala.
Work-related stress can impact one's mental health. Which is why Saurabh Tiwari says he's fortunate that his company understands this and is doing whatever it can to help mitigate that stress. "My company provides opportunities according to my interest, and if anyone is feeling stressed or has additional workload, they can talk with their supervisor to resolve it," says the 31-year-old who's working from home for a Bengaluru-based IT firm. Not everyone's as lucky.
If shutdown stays for an extended period, there would be an overall macroeconomic impact that may affect the IT industry.
A Delhi court on Wednesday sent former MD and CEO of National Stock Exchange Ravi Narain to two days' custodial interrogation by Enforcement Directorate in a money laundering case related to alleged illegal phone tapping and snooping on stock exchange employees. Special Judge Sunena Sharma allowed ED's plea seeking Narain's custody till September 9 after the accused was produced before him by the probe agency. ED's Special Public Prosecutor N K Matta told the court that Narain was required to be confronted with other accused persons and evidence in the matter to unearth the larger conspiracy in the matter.
'Indian companies has a responsibility to create jobs for Americans, too'
Sluggish volume growth and mark-to-market losses have affected the performance of a majority of mid-cap information technology companies in the January-March 2008 quarter. Analysts expect that growth will continue to be sluggish in the next two quarters.
While Indian IT majors are still far away from waking up to the looming threat of global warming, Dell is seriously converting to green power. Moreover, several India firms are still to make a serious effort to tackle the e-waste whereas Dell is now powering 100 per cent of its 2.1 million sq ft global headquarters campus, home to more than 10,000 employees, with green power.
In many cases, clients also prefer experienced employees for niche projects, which is only adding to the woes of the IT services providers.
Indian IT-BPO firms are looking at Philipines as a viable option to build outsourcing centres.
"Despite many obstacles, the Indian IT sector is growing stronger. However, innovation is the key driver of growth. There should be innovation in products, research and development, technology, organisational structure, business model and processes. Indian companies should follow this model to remain successful," he said delivering the keynote address of the Freescale Technology Forum in Bangalore.
The information technology (IT) services industry could see value investors taking selective punts in the near future. While growth remains visible, managements across the board have been cautious or measured in their guidance and have also complained about a combination of margin pressures and high churn. The two factors are related in that employee compensation is a large component of IT costs and high churn has forced firms to hike compensation packages and also invest more in hiring, training, and retention.
Indian IT firms companies having their operations in Malaysia are showing great amount of interest in investing in residential properties in Malaysia. Over 700 Indians have acquired residential properties.
IT-BPO firms offer end-to-end mortgage origination services and manage servicing activities.
Wipro topped the race, limited to just four computer manufacturers, of which two did not provide any data. Wipro scored 5.3 points out of 10 whereas HCL, the market leader, comes second with 1.7 points.
To get the best talent, they put stiff riders for recruitment.
Flush with cash and stung by the rising value of the rupee against the US currency, Indian information technology companies are venturing into diverse geographies -- from Brazil to Ecuador.
President A P J Abdul Kalam underscored the need to attain self-reliance in the infrastructural software sector with knowledge products, where the domain applications can be developed and deployed for services sector.
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.
A scarcity of young, college-educated engineers has turned recruitment in India's fast-growing tech sector into a free-for-all.
"We sponsor faculty awards, sabbatical grants, student fellowships, workshops and internships," said IBM India Research Lab Director Dr Daniel Dias.
'Companies are being forced to pay higher salaries to retain and hire employees due to a big rise in attrition in the industry.'
The slowdown shadow is looming on performance evaluation systems, too.
The firm-level optimism derives partly from the state of the global economy.
A joint statement released on Thursday said both sides exchanged views in an 'open and constructive' manner to resolve the 'relevant issues' and that it was agreed to maintain 'security and stability' on the ground in the region.
Shares of Indian software majors have plunged into red on news that BP would cut its spend on information technology.
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