Infosys has been focusing on winning more lucrative digital technology and automation outsourcing contracts.
The announcement was made by Corporate Affairs Minister P C Gupta, whose ministry had earlier moved the Company Law Board to disband the erstwhile Satyam board after disclosure of fraud by company founder Ramalinga Raju
IT major, Hexaware Technologies, plans to hire 400-500 fresh engineers in the current calendar year, a top company official said.
The estimation is in line with an earlier forecast of 4-7 per cent given by National Association of Software and Service Companies. The industry was optimistic to reach the $50 billion milestone export target in the current fiscal.
The government is likely to appoint more directors on the board of the crisis-ridden Satyam Computer Services soon. "More directors will be appointed within two days," a senior official of the Ministry of Corporate Affairs said.
The US president's stance on immigration could lead to a change in H1B visa rules.
Can Indian youth work on solutions for cyber security?
India's celebrated IT outsourcing industry, which contributes about 25 per cent of the country's total exports, is feeling the pinch as it struggles to deal with the avalanche effects of the global financial crisis.
The growth of India's IT outsourcing sector, which contributes to about 25 per cent of the country's total exports, is expected to slow down sharply this year following a drop in demand due to the global financial crisis, India's software industry lobby predicted.
The government does not see any conflict of interest in HDFC chairman Deepak Parekh and former Nasscom President Kiran Karnik, who are directors on the board of Satyam's competitors, being on the troubled company's board.
Taking the first concrete step towards curtailing the rising incidents of crime against business process outsourcing (BPO) staffers, a group of 32 Pune-based BPOs and National Association of Software and Service Companies (NASSCOM) have framed a 'code of conduct' to ensure their physical security.
So what's up? Why are so many promoters heading for the door? It cannot be that all of them lost their appetite for a good fight at the same time.And if Naresh Goyal of Jet Airways and Subhash Chandra of Zee Entertainment do bow out, will it be seen as chickening out when the going got tough or the entrepreneurial instinct of surviving to fight another battle waned, wonders Shailesh Dobhal.
WCH Training Solutions is organising a 10-day workshop on "Voice & Accent Training Skills" for professionals in the BPO industry.
Within the IT industry, reactions to Barack Obama's historic victory have not been as pessimistic as expected. IT firms have been worried because Obama, as Senator, introduced the Patriot Employer Act of 2007 that gave tax credits for companies that maintain or increase the number of full-time workers in America relative to those outside the US.
The government on Thursday said the domestic IT sector has not recovered fully and is expected to grow by 5.5 per cent in 2009-10 against a growth rate of 16.6 per cent in the previous fiscal.
With prominent Indian IT companies such as Tata Consultancy Services (TCS), Wipro, Infosys Technologies, Zensar Technologies and Satyam Computer Services increasing their presence in Japan, the world's second largest IT services market is becoming a lucrative market for India.
Higher impetus on automation through higher funding of e-governance projects and rationalisation and clarity on levy of taxes would bring relief, says the computer hardware industry.
Infosys Chairman Narayan Murthy equated the present economic crisis in the US to the Great Depression. "The present crisis in the US reminds me of the 1929 depression. More signals are emanating of the 1929 depression than the 70s' one. I have a suspicion that it (the present crisis) could be a longer one," he said. A recovery from the present crisis may take longer than 18 months, he said.
Indian IT companies can take a breather as the US Senate vote for imposing stringent conditions on the hiring of H-1B visa workers.
Fearing that the image of the Indian IT companies globally will take a beating following the Satyam fiasco,IT-BPO union UNITES on Friday said that industry body Nasscom should institute an inquiry in association with World Bank on Satyam, which has been banned from doing business with the bank for eight years.
"Till the second quarter of last fiscal, the industry was on track to achieve the $50 billion export target by 2008-09. The aspiration to reach $60 billion by fiscal 2010 is at risk since an unprecedented slowdown is expected in key markets overseas, especially the US and Europe, which account for about 80 percent of Indian software exports," Nasscom president Som Mittal said. Nasscom has now extended the target year for achieving $60 billion export revenue to 2011.
Within the next two years the national capital will have its own IT hub aiming to foster industry-institute partnership in the areas of advanced technology research in the city.
Howard County delegates will meet Bangalore firms to explore possibilities of business expansion of Indian companies in Howard County.
Rahul Gandhi took a dig at PM Modi, saying his 'Digital India' scheme cannot become a "euphemism" for an Internet controlled by large remote corporations.
Amid headwinds across global markets, US issues fresh restrictions on H-1B visas. Ayan Pramanik & Raghu Krishnan list out the many ways in which this impacts the Indian IT industry.
Beating market expectations, Infosys had reported a 13 per cent jump in consolidated net profit for the third quarter
Innovation often happens informally was the crux of Sabeer Bhatia's message at the Nasscom Product conclave in Bangalore to entrepreneurs who wanted to replicate the success of his hotmail.com
The Finance Ministry ruled out introduction of Advance Pricing Agreement programme for deciding tax liability of the companies in advance in the near future, saying that in the absence of an institutional mechanism such system would not be effective. An Advance Pricing Agreement is a binding contract between a taxpayer & the tax authority under which the 2 parties agree on the transfer pricing policy for specified transactions of the taxpayer over a given period of time.
Software employees can opt for company-run programmes, online courses, boot camps to upgrade skills.
Unique benefits, work-life balance, and fair share of profits were the top three areas where MNCs fared better over Indian companies
Indian export-oriented information technology (IT) and business process outsourcing (BPO) firms may be grappling with an appreciating rupee and clouds of doubt looming over the extension of tax sops for the sector beyond 2009. An Everest-Nasscom study points out that the domestic BPO market, with a growth rate of 50 per cent over the last five years, has grown faster than the overall Indian BPO market to reach nearly $1.6 billion (Rs 6,400 crore) by end of FY2008.
For the first time in three years, India will register lower growth rate, but some economists believe all is not lost.
Advances in technology could render much of the Indian IT services industry obsolete.
Doing business in India is still not as easy as it is in the western world. But the change has begun. We are moving in the right direction.
"While $30 billion is the achievable target, 50 billion is the aspirational target", Nasscom President Som Mittal said on Tuesday while releasing the findings of a study on India's BPO industry conducted jointly with the Everest Group, a global strategy consulting group.
The event will aim at drawing foreign investment in startups and push local partnerships.
Nasscom estimates that the KPO industry is poised for a 45 per cent per annum growth till 2010. The current hotspots in KPO are engineering and design, basic data search, integration and management and biotech & pharma.
The government has given an 'in-principle' approval to the special incentive package prepared by the department of information technology for semiconductor manufacturing and other high-tech industries.
The aerospace technology outsourcing market in India will touch $1 billion by 2009, according to Nasscom.
A recent study by Nasscom suggests that only a fourth of the 400,000 students graduating every year in the country are employable.
