Software industry body Nasscom on Tuesday maintained its growth projection of 16-18 per cent for the sector in this fiscal, notwithstanding concerns over economic uncertainty in global markets.
Is India headed there again? questions Ajit Balakrishnan
A quick and decisive action in such incidents augurs well for the IT industry, feels the Nasscom Chairman.
Nasscom will float a Rs 100 cr fund to help individuals and small companies in setting up and innovating their business. Tata Consultancy Services, Bharti Airtel Ltd and ICICI Knowledge Park to be key investors.
"The industry is looking at a rate of 12-16 per cent. So, it entirely depends on how it gets. But the bigger concern is how the GST is applied," said R Chandrashekhar, president of Nasscom.
With the economy gaining pace and large deals back on the table, chief executive officers (CEOs) of tech companies believe global tech spending will witness growth this year. According to CEO Survey by Nasscom, about 71 per cent chief executives expect global spend to grow over 4 per cent. The figure is significantly higher than the previous two years - 41 per cent and 59 per cent in 2019 and 2020, respectively. The survey also said the recovery in global tech spending will be led by the digital segment.
According to Nasscom, India must make its R&D significantly more robust to realise the 'Make in India' dream
Recognising the growing prominence of Chennai in the Indian software industry, the National Association of Software and Service Companies will open an office in the city before this year-end
In a statement, Nasscom said it looked forward to the opportunity of working with the President-elect and his administration on mutually beneficial policies that will boost economy in both nations, enhance bilateral national security matters between India and U S and build on the long standing partnership the two democracies share.
National Association of Software and Services Companies has signed a pact with Nasdaq, electronic stock exchange in US, to assist Indian companies to raise capital and get listed in American capital markets.
The new programme could bring in longer lead times and paperwork
Nasscom, the apex body that represents the Indian IT outsourcing industry, will demand 'service visas' instead of mentioning H1-B/L1 visas.
Nearly 45 per cent of this value is likely to be delivered by 3 sectors - consumer goods and retail, agriculture and banking and insurance, the Nasscom report said.
The country will witness a mushrooming of technology start-ups over the next five years.
This decision was taken at Executive Council meeting of National Association of Software and Service Companies held in Pune.
Nasscom has identified 4-5 different areas and is taking these recommendations to the government.
IT trade body Nasscom on Tuesday announced the national roll-out of its assessment and certification program 'Nasscom Assessment of Competence' in the country, which would be first launched in Rajasthan.
Students would be provided with industry certification.
The National Association of Software and Services Companies (Nasscom) on Saturday welcomed re-appointment of N R Narayana Murthy as Infosys Executive Chairman, saying his insights into the company and the technology industry would be valuable.
Software industry body Nasscom on Wednesday appointed Cognizant India Executive Vice Chairman R Chandrasekaran as its Chairman for the year 2014-15.
Expressing reservations over the government move for job quota, NASSCOM, the apex body of the IT software and services industry, said on Tuesday the best way to end discrimination was to raise the ability of the disadvantaged section.
Nasscom recommended that there should be 'no double dipping'.
IT industry body Nasscom has asked the government to set up special or fast track courts for early conviction in cyber crimes matters.
IT body Nasscom has helped four start-ups raise funding of Rs 40 lakh as part of its programme to help entrepreneurs turn their ideas into successful businesses.
Tata Consultancy Services (TCS) on Tuesday ruled out cutting down on hiring, saying it has no plans of doing so but it may have to pace hiring according to the evolving demand scenario. TCS is the largest Indian software exporter in terms of headcount, revenue and profit. The statement comes amidst a report that the software industry is going soft on hiring as demand falters from their key markets and some of them are even going back on their campus offers.
The executive council, which met in Chennai on Monday, stated, "Som Mittal is doing an outstanding job in leading Nasscom as president.
Earlier in the year, Modi government had moved WTO against the US imposing higher fee for applicants seeking two categories of non-immigrant temporary working visas
Nasscom's current president Som Mittal's term expires in January. However, Chandrasekhar, expecting to get the necessary approvals from the government soon, will start work from next month to get familiar with the organisation.
IT industry body Nasscom on Tuesday said the sector will regain double-digit growth from April next year leaving behind the prolonged recession.
Nasscom is sending team there to check out ways of accessing markets, funding and the technology landscape.
Admitting that the global economic environment was still 'uncertain', IT body Nasscom said on Tuesday the fundamentals of the domestic IT industry are strong but there was a need to 'wait' and 'watch' its performance in the next two quarters.
Industry body Nasscom on Wednesday said it has formed a corporate governance and ethics committee to prevent Satyam-like incidents in future.
The top three Indian IT firms -- Tata Consultancy Services (TCS), Infosys and Wipro -- collectively trained over 775,000 employees in generative AI (GenAI) capability by the end of 2023-24, according to an analysis of GenAI-trained workforce of leading companies in India in this sector. This number is significantly higher that the projection made by the IT industry body Nasscom in its Strategic Review of 2023, released in February this year. It said in 2023-2024, over 650,000 employees across the IT industry received training in Gen AI skills.
'The focus of the legislation will be to minimise user harm and increase the accountability of platforms, while also promoting innovation.'
Nasscom, India 's information technology industry lobby, played down concerns about outsourcing ahead of the US presidential elections when the issue of job losses usually becomes a prominent issue.
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