Wipro said on Thursday that Azim Premji's son Rishad, chief strategy officer and member of the board, will take over as the executive chairman. Azim Premji, however, will continue to serve on the board as non-executive director and founder chairman.
The trade impact of the coronavirus epidemic for India is estimated to be about 348 million dollars (approximately Rs 25 billion) and the country figures among the top 15 economies most affected as slowdown of manufacturing in China disrupts world trade, according to a UN report. Estimates published by United Nations Conference on Trade and Development on Wednesday said that the slowdown of manufacturing in China due to the coronavirus (COVID-19) outbreak is disrupting world trade and could result in a 50 billion dollar decrease in exports across global value chains.
While the leadership change in Mindtree is yet to happen, there's a buzz that the co-founders of the IT firm may float another company.
'China feels India will be hard-pressed not to go after China because we are so badly dependent on them -- and that is the reality.'
Despite higher gross additions, growth in overall customer base has been tepid for these companies, says Debasis Mohapatra.
With Muthappa Rai's death ended a life that highlighted the dark side of Bengaluru's often delirious growth to become India's IT capital
'ISRO facilities are very expensive and any damage caused by these start-ups can create havoc to our space programme.'
Hitting out at previous governments, he said they did not care for the people with disabilities but his dispensation was thinking about their problems and finding ways to reduce their issues.
From Accenture to IBM, IT hiring is set to gain pace where most of these openings are for lateral hiring for people with 4-6 years of experience.
Krishna's appointment as head of the global IT giant adds to the growing list of Indian-origin executives at the helm of some of the biggest multinational companies. Krishna joins the club that includes Microsoft CEO Satya Nadella, Google and Alphabet CEO Sundar Pichai, MasterCard CEO Ajay Banga, PepsiCo's former CEO Indra Nooyi and Adobe CEO Shantanu Narayen.
Several start-ups have raised concerns over taxation of angel funds under Section 56 of the Income Tax Act, which provides for taxation of funds received by an entity.
'Opportunity for a country like India is huge in terms of wealth creation.' 'That's the reason India is an attractive economy for investors.'
Despite lay-offs and the threat of automation, the industry will continue to be an important driver of growth in employment and GDP, says Ashok Soota.
State governments in Punjab, Gujarat, Maharashtra and Jammu & Kashmir are on high alert and have come up with contingency plans to ensure the security of residents in case of a war.
From acquiring creative agencies, to setting up onsite innovation centres and turning around BFSI with entirely new digital offerings, 2018 had seen the IT industry going from initial lows to new highs.
'We know that if the IT industry goes on strike even for a day or two, the repercussions will be international, and we will suffer as a country.' 'We don't want that to happen.'
'If jobs do not happen, the demographic dividend we have will become a demographic disaster.'
'30 to 40% of the industry needs to be reskilled as existing jobs will go to automation.' 'Reskilling is required as some existing jobs will not be required in the future.'
Though global IT services spending is likely to cross the $1-trillion mark to reach $1.031 trillion, growth rate will slow to 3.8% in 2019, compared to 6.7% last year according to reports
The pace of job generation has slowed as IT firms look at automation to do testing
The revenue of Indian IT sector for 2011-12 is pegged at $100 billion with over 70 per cent of IT exports in US and Europe.
'Another rejection of mediation between India and Pakistan will leave Mr Trump disappointed.' 'In that case, he is likely to point out the war-like situation on the border and press for direct talks which have been stalled on account of continuing terrorism from Pakistan,' notes Ambassador T P Sreenivasan.
Will Finance Minister Arun Jaitley live up to the expectations of India Inc and individual taxpayers? Watch all the action here live from Parliament.
The policy proposes a single-window platform for facilitation of the Indian software product industry, to help fast-track legal and regulatory issues over import and export, as well as setting up and winding up enterprises.
Tepid growth in verticals like banking and finance, healthcare, retail and automotive will drag overall IT spends in the current year, reports Debasis Mohapatra.
Several leading industrialists, including Reliance Industries CMD Mukesh Ambani, Vedanta Resources Limited executive chairman Anil Agarwal, chairman emeritus of Tata Sons Ratan Tata, Mahindra Group chairman Anand Mahindra, Paytm Founder and CEO Vijay Shekhar Sharma, Welspun Group chairman and Assocham president B K Goenka, attended the swearing-in ceremony.
Squeezing growth prospects in IT services firms and higher compensation in technology centres run by global companies are the two factors driving this trend.
The initiative, whose founding partners also include Accenture, CA Technologies, Cisco, Cognizant, Hewlett Packard Enterprise, Pegasystems, PwC, Salesforce and SAP, aims to bring competitive training content together on one platform to serve the greater good.
To attract people from tier-1 colleges IT services companies must increase payment to freshers: Mohandas Pai.
The proposed annual quota for Indian companies could be between 10 and 15 per cent. Currently, there are no country-specific limits on H-1B allotment.
The Nifty is up 6.5% in the last 12 months. The NSE IT Index is down 10% in the same period. But will the sentiment improve going ahead?
BJP president and Union Home Minister Amit Shah said the prime minister shared his vision and commitment for the development of the people of Jammu and Kashmir and Ladakh region and and urged them 'to be a part of this historic journey'.
The procurement is expected to address the shortage of small arms for the armed forces.
They were the source for entry-level recruitments in the IT industry before the job market crash.
Mindtree plans to recommend to its investors not to subscribe to the open offer, citing low offer price, among key reasons. The founders were exploring several other options, including coming out with a counter open offer, with the backing of a financial investor.
According to Nasscom, engineering services exports had grown at 13 per cent in 2017 compared to six per cent rise in IT services exports and eight per cent in business process management (BPM). It had also recorded the highest growth in the last three years, reports Debasis Mohapatra.
TCS had earlier this week announced that it too would be hiring less number of freshers.
Rediff readers share their interesting stories about the first salary and what it taught them.
Indian IT industry veterans believe lack of maturity from the political leadership may have helped people in the US to take advantages.
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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