Captive centres set up by multinational corporations in India are posing a serious threat to the domestic outsourcing companies.
Whether history will remember Edward Snowden as a traitor to his country or as a champion for free speech and less intrusive government is hard to tell, but the issues he has brought into focus need deep thought, writes Ajit Balakrishnan
Vaccine major Bharat Biotech on Wednesday said its COVID-19 vaccine, Covaxin, has demonstrated an interim vaccine efficacy of 81 per cent in the Phase 3 clinical trials.
The year 2009, was one of the worst years in terms of job market as terms such as 'layoffs', 'pink-slips', 'right sizing' became hot topics in household discussions.
India is fast turning into a hub for high-end software products development as firms in developed markets start to outsource the activity to Indian companies.
'Now is the time for India to course correct and for the government also to course correct,' says businessman Mangesh Khatri.
The issue has been raised by the income-tax department saying that consumer electronics and home appliances manufacturer Samsung India Electronics Ltd is liable to deduct tax in respect of goods outsourced for manufacturing to other manufacturers or original equipment manufacturers.
India's representation in the top 50 Emerging Global Outsourcing cities has grown to four, from last year's three, with the addition of Jaipur to the list at number 31. The other Indian cities in the list include Kolkata at number six, Chandigarh at 12 and Coimbatore at 17, says the study.
American accounting and medical billing firms are the latest to join the outsourcing bandwagon, transferring hundreds of thousands of jobs to India to take advantage of the low pay scales and educated workforce in the country.
Research and markets estimated in May that the global opportunity for small and mini satellites would grow nearly one and half times to $5.32 billion by 2021
India may have been hailed for long as the world's top outsourcing destination, but according to a survey in the annual Black Book of Outsourcing, as many as 8 Indian cities are among the world's 25 riskiest places for offshoring.
Quoting Jacob Rees-Mogg, the lead manager with Somerset capital management, a fund that specialises in emerging markets, NYT said, "[T]he fraud will make people even more nervous about investing in India and other developing markets". Meanwhile, the Wall Street Journal said, "[T]he chairman of one of India's largest technology companies said he concocted key financial results, . . . sending shock waves across India".
Bags long-term outsourcing deal from Allied Irish Banks
Indian companies Nicholas Piramal, Cadila, Shasun, Dishman, Jubilant, Matrix, Strides, Ipca and Divi's are into contract manufacturing business. In the future, Indian players would move up the value-chain in the contract business, KPMG said.
What made the tide turn in favour of the Adani group was the Covid-19 pandemic, which shut down airports the world over, including Mumbai. There was no cash flow and the firm started defaulting on salaries July onwards.
In comes recruitment process outsourcing, or RPO. Shambhavi Chauhan spoke with Robert McNabb, executive vice-president, Korn/Ferry International, and CEO, Futurestep (an RPO firm under Korn/Ferry), on the changing HR scenario. Edited excerpts:
Labour unions, with a history of hostility towards management, are pushing back on Coal India's plans, fearing modernization and outsourcing will hit jobs.
While participation of start-ups in the space sector has largely been minimal so far, their involvement will be key towards building India's very own aerospace companies such as Maxar, Elon Musk's SpaceX and Rocket Labs, according to experts.
Indian IT service providers are increasing their exposure in the healthcare and pharma segments. Multi-million dollar deals in this space by IT firms over the past three-four months only buttress this trend. Healthcare outsourcing has moved away from just undertaking medical transcription and business process outsourcing (BPO) work to core functions such as drug discovery, testing, research and development.
Firstsource raised $275 million (around Rs 1,265 crore) through foreign currency convertible bonds in 2007 to fund the acquisition of MedAssist.
Words like business process outsourcing (BPO) and offshoring may not exist in the IT dictionary by 2015. Substitutes like business service outsourcing and global delivery model (GDM), necessitated by the changing business model of IT firms, are likely to replace them over the next seven years.
Russell Smith, chairman, SDD Global Solutions, explains what makes India such a hot legal outsourcing destination.
The US sub-prime lending crisis forced Mumbai-based WNS Holdings to revise its net income guidance by 60 per cent, and this is worrying the $8 billion business process outsourcing sector players and analysts.
It was expected to be a friendly Bill for the IT outsourcing industry
Our core strength is that we communicate in English, are low-cost and have impressive skills in design and creatives
'There's a huge need for advancements in current security incident logging and monitoring practices.'
But private Indian defence firms prefer to do business with the West. Indian CEOs say they encounter difficulties in obtaining full and timely payment from Russian partners.
Global human resource outsourcing and consulting major Mercer will spend $50 million over the next three years on its upcoming global operations centre in Noida
'The industry growth in 2016< came from the new digital technology segment which grew at over 20%.' 'The challenge for the industry is that the legacy business makes up almost 80% of revenue.' 'Hence the urgency to transform into digital business.'
Infosys CEO Nandan Nilekani has been named as 'Businessman of the Year' for 2006 by Forbes Asia for his "nimble" stewardship in keeping the company ahead of peers in the global outsourcing phenomenon.
Indian information technology (IT) and businesses process outsourcing (BPO) firms that are heavily dependent on business visas can heave a sigh of relief as the United States Department of Labor (DoL) has decided not to change the Labor Condition Application (LCA) norms for now, said industry sources.
The size of knowledge process outsourcing industry, the high-end services entailed in business process outsourcing activities, has the potential to touch $16 billion by 2010 across the globe.
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