Deutsche India, which houses the largest technology centre of German investment bank Deutsche Bank, is expanding its operations in India and hiring thousands. "Since January 2023, we have hired more than 2,500 people for Deutsche India and expect a positive trend to continue for the rest of 2023," Dilipkumar Khandelwal, chief executive officer of Deutsche India and Global Head of Technology Centers told 'Business Standard'. "We will continue to hire in the similar range even for the next year." Deutsche India has about 16,000 employees in the country and most of them are engineers.
Forced to part bulk of their earnings with the service providers, mobile gaming companies are finding new ways to increase their share from the downloaded games.
In one of the largest outsourcing deals ever, ABN Amro has signed a Euro 1.8 billion ($2.22 billion) contract with five IT-vendors, including Tata Consultancy Services, Infosys and IBM.
After disappointing guidances in the first quarter (Apr-Jun) of the 2023-24 financial year (Q1FY24) and valuation downgrades, the Indian IT sector could see some positive repricing as the bad news for IT maybe easing in Q2FY24. A key negative factor was weaker demand from the US financial sector and from North America in general. The latest GDP (gross domestic product) estimates and sector-specific news suggest that the demand situation may not be quite so bad with a gradual recovery in tech spending in Q2.
The ruling Congress is seeking to retain power in Chhattisgarh by banking on the welfare schemes of the Bhupesh Baghel government, while the Bharatiya Janata Party is hoping to corner it on the issues of alleged corruption, religious conversions and unfulfilled poll promises.
India on Tuesday conveyed its concerns to the US on issues like H-1B visa fee hike, export control restrictions and outsourcing ban during a meeting between External Affairs Minister S M Krishna and his counterpart Hillary Clinton in New York.
A group of influential lawmakers have introduced a bipartisan legislation in the US Senate to comprehensively overhaul the H-1B and L-1 visa programmes and usher in more transparency in the recruitment of foreign workers. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise. Technology companies depend on it to hire tens of thousands of employees each year from countries like India and China.
North American automotive executives have picked India over China as the most popular offshore destination for the migration of business processing activities, according to a new survey.
Information technology services provider HCL Technologies is close to clinching a $1 billion (about Rs 3,950 crore) outsourcing contract from a European telecommunications company.
With global market research biggies like IMS Health and Ipsos already offshoring work to Indian third party companies and others like AC Nielsen all set to invest in a captive unit here, market research is tipped to be the next hot BPO opportunity.
What is noticeable in both movies is the willingness with which both the ageing stars -- Kamal is 68 and Rajini, four years older at 72 with a kidney transplant that he has not shied away from acknowledging -- have learnt to respect their age and bodies, notes N Sathiya Moorthy.
The government is close to approving a proposal by Micron Technology to set up an assembly, testing, marking and packaging (ATMP) facility in the country involving an investment of about $1 billion. The world's fifth largest semiconductor company, based in Idaho, USA, will use the facility to process some of its own wafers, manufactured across the globe.
I-T dept to outsource PAN card allotment
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.
The Indian office real estate market, which had recovered significantly in early 2022, began to slow down in the latter half due to macroeconomic problems in the developed world. Rental yields are likely to be stable at best in FY24.
The tribal vote in Madhya Pradesh is crucial in any election. The BJP's loss in the 2018 assembly election has prompted it to take remedial action.
Logistics infrastructure in India is poor, hindering the 3PL industry's progress.
The Reserve Bank has given time till November 30 to banks and NBFCs to put in place a mechanism to ensure that existing digital loans are in compliance with the modified norms aimed at protecting the interest of customers. Last month, the central bank tightened norms for 'digital lending' to prevent charging of exorbitant interest rates by certain entities and also check unethical loan recovery practices. In a circular, the RBI said outsourcing arrangements entered by Regulated Entities (REs) with a Lending Service Provider (LSP)/ Digital Lending App (DLA) do not diminish the REs' obligations and they shall continue to conform to the extant guidelines on outsourcing.
Power Minister A K Sharma blamed the 72-hour strike that began at 10 pm on Thursday on some 'irresponsible' leaders of the electricity department and said it was not in the interest of the employees.
"India is the best market right now in the world with the digital initiatives the government has implemented
The first leg of Micron's semiconductor play in Sanand is crucial for the company to sprint towards India's goal of joining the chip race.
Britain's apex industry chamber said on Monday that the UK's economy gained £16 billion through offshoring in 2004 and in future more high-end work would move to India.
Balanced advantage funds (BAFs) were popular in the later part of 2021 and continued to see good inflows until some months back as investors looked for safer options amid over-valuation concerns. As such concerns ease, investors are turning to riskier funds and shifting from BAFs. Redemptions from the hybrid fund category have exceeded in six of the last seven months, with investors pulling out a net of Rs 3,140 crore during the seven-month period.
The sharp rally in the markets thus far in fiscal 2023-24 (FY24) has left analysts struggling to find investment-worthy themes. The S&P BSE Sensex has surged nearly 7 per cent thus far in FY24 and hit a fresh 52-week high of 63,601.71 levels on June 22, mostly led by foreign institutional (FII) flows. "The Indian market has seen a broad rally in the past few months but headline indices have seen more modest performance. "We are not very clear about the reasons for the rally and the divergent performance and struggle to find ideas in the consumption, investment and outsourcing sectors after the sharp run-up in several of our favored sectors and stocks in the past two months," wrote Sanjeev Prasad, co-head, Kotak Institutional Equities, in a recent co-authored note with Anindya Bhowmik and Sunita Baldawa.
Clearly, Foxconn Chairman Young Liu and his team are looking to raise their game in India.
The bill introduced in the state of New Jersey proposes a ban on government outsourcing contracts to foreign countries.
Capital markets regulator Sebi on Wednesday came out with a cybersecurity framework for all portfolio managers having an asset base of at least Rs 3,000 crore. The new guidelines will come into force from October 1, 2023, the Securities and Exchange Board of India (Sebi) said in a circular. Under the framework, Sebi asked portfolio managers to report all cyber-attacks and breaches experienced by them within 6 hours of detecting such incidents.
OSAT majors have concerns about India's ability to provide a stable, predictable, and lasting policy environment for years to come, which is key for making a decision in a capital-intensive business.
Krithi Krithivasan is the kind of person one might look to when the need is to calm things down and put things back on track.
The Indian government is keen to woo major semiconductor players, but a global race to attract them to countries where there is already an ecosystem is making it difficult for India to attract the biggies in the business. On Wednesday the government decided to throw open the doors to more players to participate in its semiconductor scheme. It is now looking at not only 28 nanometre (nm) chips and below, but higher nodes like 40 nm.
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