'MNCs now recognise India's capacity for innovation and its pivotal role in substantive contributions to global product development.'
The combined entity's headquarters will be in California, US.
The controversy over visas for high-skilled workers from abroad is about to get hotter. H-1B visa program was set up to allow firms in US to import the best in technology, engineering, and other fields when such workers are in short supply in America. But data released by the federal government show that offshore outsourcing firms, particularly from India, dominate the list of companies awarded H-1B visas in 2007.
Already 15-20 per cent of the workforce, earlier used to be procured from staffing firms and subcontractors, are replaced by freelancers tapped from platforms like Topcoder, GitHub, and Upwork.
A growing number of US companies are looking to India's outsourcing firms to cut the cost and time needed to comply with a US corporate governance law that calls for timely and accurate reporting of financial accounts.
They are acoustics pioneer Amar Bose, Google founder director Kavitark Shriram, venture capitalist Vinod Khosla and Bharat Desai, CEO of an info-tech outsourcing firm.
'We are also conducting ongoing training and grooming at the branch level to pre-empt such cyberattacks.'
In the last couple of months, top Indian IT services providers, including TCS, Infosys, Wipro and HCL Tech have announced setting up cyber threat management centres in the US and Europe.
Infosys BPO (formerly Progeon) and media company TV18 have entered into a strategic alliance to launch Source18, a media process outsourcing company that will offer a range of services to media and entertainment companies globally.
Chennai-based business process outsourcing firm in human resources services, Secova eServices plans to ramp up its operations by hiring 165 people in the next one year, its co-founder V Chandrasekaran said.
Infowavz International, a Mumbai-based business process outsourcing firm, has signed a strategic partnership with London-based Contact Power Inc for offshore BPO services into the United Kingdom.\n\n\n\n
Operating Income crosses $ 1 billion; Q4 revenues at $1.2 billion; up 8% Q-o-Q.
"India is the best market right now in the world with the digital initiatives the government has implemented
India, which constituted over 13 per cent of Accenture's global headcount of 115,000, is its second largest geography in terms of the number of people employed after the United States.
GTCR Golder Rauner LLC (GTCR), a US-based private equity company, has acquired majority stake in Zenta, a business process outsourcing firm with operations in the city and committed $100 million for the deal.
Simplilearn said the pandemic had accelerated demand for skills in areas such as artificial intelligence, cloud computing, data science and cybersecurity.
'GenAI has democratised the AI conversation. I do not know of a single client who is not interested in that conversation.'
Global private equity firm The Carlyle Group has invested $4 million in Worldzen Holdings Ltd, a Bangalore-based firm that specialises in business process outsourcing in the financial services, insurance and healthcare industries.\n\n\n\n
The Business Process Outsourcing companies in India appear to be handling the impact of the global economic crisis much better than IT firms
The deal was inked at an enterprise value of 42.9 million euros and will be financed by the Capgemini Group's net cash, it said in a statement here. The contract was signed with conditional approval from the Italian anti-trust authorities.
As the world celebrated International Day of Persons with Disabilities (PwD) on December 3, corporate India has kept up with efforts to make workplaces more inclusive and accessible. Organisations across sectors are taking initiatives such as equipping offices with practical work tools like Braille-friendly and voice-enabled lifts and screen readers. While inclusion has gained pace, only 11.3 per cent (or 3.4 million out of 30 million) Indians with disabilities have jobs.
Top Indian IT firms, such as TCS, Infosys, and Wipro, have signalled taking aggressive cost take-out measures, including reduction in sub-contracting costs, travel expenses, freeze in salary hikes, and holding back variable payments, among others.
Larger firms feel that the smaller players have muddied the waters for the IBC process, leading to excessive regulation of resolution Professionals.
Outsource Partners International, a business process outsourcing company that provides finance and accounting services to clients in the US and UK through offshore resource centres in India, plans to target Indian global firms to scale up business.
To be able to manage any such uptick, Indian IT services players are hiring more locals, and relying on hybrid work models.
A total of 12 Indian companies made it to the third annual Forbes Asia Fabulous 50 List, followed by Taiwan with 10 and China with seven, Forbes Asia said in a press release.
Plus Vision Corporation the $1.7 billion Japanese company said on Monday that it planned to outsource software from Indian IT firms, which would be integrated in its advanced products.\n\n
At a time when the market is betting on a 'higher for longer' global interest rate view, Accenture's (ACN) weak revenue forecast is a negative read-through for the Indian IT firms, according to analysts. The Dublin-based company sees its revenue growth at 2-5 per cent in constant currency (cc) for the financial year 2024 (FY24), below the pre-Covid levels of 5-8 per cent for FY17-20. The weak projection, thus, signals that slower demand is likely to persist this year, and any recovery is unlikely in the near-to-medium term, experts note.
The exclusive club that dominates the global semiconductor fab scenario is about to get a new member. Taiwan, South Korea, and China control nearly 70 per cent of the global capacity. SEMI, the global industry body for semiconductor and electronics design and manufacturing, projects all fabs collectively will churn out 30 million wafers a month this year.
IT major Accenture's second straight cut in its revenue growth forecast for FY23 suggests there is more pain ahead for the Indian IT sector, say analysts. Accenture has lowered the top end of its FY23 growth guidance in constant currency (CC) to 9 per cent from 10 per cent earlier. The firm, which follows a September-August fiscal cycle, expects a 2-6 per cent CC growth in Q4 of FY23 (June-August 2023) versus the 6-10 per cent prior guidance.
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