KPMG, the $20-billion global advisory and audit firm, is set to broaden its basket of operations in India as it sees annual growth of 40 per cent in the coming years as well. At present, a significant chunk of KPMG's global client service support is being outsourced to Outsource Partners International, a strategic partner, in India. Going forward, the outsourcing volumes are expected to double.
'The workers's dance of wilful destruction has the potential to kill all investments planned in India by any foreign entity,' argues Dr Sudhir Bisht.
The presence of the private sector at a prestigious military training institution is an important acknowledgement of its growing capabilities in designing and manufacturing cutting edge aerospace and defence equipment, reports Ajai Shukla.
Today, Vachani's public-listed company, Dixon Technologies, has gone beyond manufacturing just television sets. Armed with private equity funding from Motilal Oswal eight years ago, it has transformed itself into a Rs 4,400 crore electronic manufacturing services major, which now straddles lighting products, home appliances, feature phones, LED bulbs, amongst others. A two-part series looks at how two home-grown manufacturers are leveraging the govt's production-linked incentive scheme.
The centre in Bengaluru, which focuses on high-end engineering analysis and design, currently has 180 staff, and Airbus president and chief executive officer, Tom Enders, told a press conference in Bengaluru on Friday this strength is expected to go up to 400 in 2013.
Consumption is among the most diversified and sought-after themes in Indian equities. Over the past five years, consumption theme funds have given an annualised category average return of 15.17 per cent, according to the data from Value Research. But this theme has been affected by the Covid-19 pandemic, which impacted jobs and livelihood.
The Indian outsourcing story has been riding high on a cost arbitrage model. Will the scene change as the rupee appreciates?
A 600-million-pound contract won by Tata Consultancy Services from Britain's Personal Accounts Delivery Authority has come under renewed media scrutiny.
A vast majority of software companies are able to realise between 80 to 100 per cent of their cost savings goals from offshoring, according to a survey.
Agnipath may be an exercise to address the genuine needs of the armed forces. But overall, it betrays the tendency to use the military and paramilitary for employment generation and shaping a national character, instead of treating them as the professional services they are, notes Shyam G Menon.
BSNL is providing telecom services in remote parts of the country and maintaining 17,000 to 18,000 exchanges, incurring Rs 3,000 to Rs 4,000 crore losses every year. Otherwise, these villages will be cut off.
'Indian outsourcing companies are thinking carefully about how best to serve customers who are thousands of miles away,' says businessman Bahar Gidwani.
Having spent the first 90 days meeting employees and key clients, Jeya Kumar, new CEO of Patni Computer Systems, is clearly in control. While he acknowledges concerns due to the current slowdown, he has started restructuring the company. He details the growth plans in a chat with Business Standard's Shivani Shinde.
The Biden administration on Friday issued a formal notification to delay the implementation of the previous Trump regime's controversial rule to raise mandatory minimum pay for foreign workers on H-1B visa, the most sought after among Indian IT professionals. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in specialty occupations that require theoretical or technical expertise. The technology companies depend on it to hire tens of thousands of employees each year from countries like India and China. The Department of Labour in its federal notification published on Friday said that it is considering whether to propose a further delay of the final rule's effective date and accompanying implementation periods that are currently scheduled to take effect on May 14, 2021, and July 1, 2021, respectively.
From powering mobile devices, US chip designer Qualcomm has tied up with Ola Electric to power its electric scooters. Qualcomm is providing the key 4G connected octa core android platform which provides connectivity, computing capabilities and enables rich immersive displays with power saving software.
Rule will hit 1,000 firms that moved jobs to India, elsewhere. Total jobs abroad pegged at 3 million.
India and five Central Asian countries on Thursday decided to establish a joint working group on Afghanistan at the senior officials' level, ministry of external affairs secretary (West) Reenat Sandhu said.
With clients increasingly looking at cost optimisation by passing on the risks to the IT vendors and IT services players demanding longer tenure deals to hedge their risks, a mix of these two factors are giving rise to large deals coming up in the market with a lot of strings attached.
Stock market crash: TCS sheds $21 billion in market capitalisation, Infosys $7 billion and Wipro around $3 billion
Ford Motor Company expects its sourcing of components from India to double or even treble in the next few years, a top official of the company's Indian subsidiary said on Wednesday.\n\n\n\n
The pace of job generation has slowed as IT firms look at automation to do testing
It was decided to cut 75 per cent of salaries of the chief minister, ministers, MLAs, MLCs, chairmen of various corporations and local public representatives, an official release said. There will be a pay cut of 60 per cent in AIS officers such as IAS, IPS and IFS while it will be 50 per cent in state government employees.
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.
Leading Australian banks, including ANZ and St. George, are planning to send their back office jobs to India.
As a multi-agency probe into the NSE case gathers pace, the grant of preferential server and data access to select brokers and their suspected misuse are being investigated threadbare to unveil all quid pro quo arrangements in a highly-sophisticated scheme that worked like a cricket betting scandal, officials said on Monday. While the bourse has said it has taken several steps over the years to strengthen its technology infrastructure, including as per regulatory orders, the officials said certain fresh disclosures call for a detailed probe into whether a select group of individuals in high positions had banded together to make illicit gains by facilitating the preferential trading slots, beginning over a decade ago. Even a split-second faster access is said to result in huge gains for a trader.
Internal documents at Facebook show "a struggle with misinformation, hate speech and celebrations of violence" in India, the company's biggest market, with researchers at the social media giant pointing out that there are groups and pages "replete with inflammatory and misleading anti-Muslim content" on its platform, US media reports have said.
Punjab's Deputy Chief Minister Sukhjinder Singh Randhawa has said a probe would be carried out to ascertain whether Aroosa Alam, a Pakistani journalist who has been visiting former chief minister Amarinder Singh for several years, has links with the ISI.
Experts said this would not only reduce Infosys' dependence on the H1B visa, which has seen increased restrictions under the current US administration. It will also help the company in building an employee pyramid for its future operations.
The DMK, AIADMK, PMK, BJP gear up for next May's assembly elections.
With globalisation, the demand of third party logistics business, a western concept, is catching up in the country as Indian firms 'which are eager to expand in new markets' are turning towards it for better management of their supply chain processes, the chamber said. 3PL cuts conventional logistics costs and helps tackle more complicated tasks, he said. Currently, the size of the business is estimated at $58 million.
HR Guru Mayank Rautela offers practical advice.
Researches reveal that many firms that employ H-1B workers directly, including some of the biggest names in the technology industry such as Amazon, Google, Microsoft, Apple, Qualcomm, Salesforce and Uber, pay a large share of their H-1B workers at one of the two lowest wage levels, Level 1 or Level 2.
Demand for digital technologies and resumption of normal economic activities will drive sales for IT companies, and the sector will post a revenue growth of up to 9 per cent in 2021-22, a report said on Thursday. Rating agency Icra gave a "stable" outlook for the sector, whose size is pegged at over $180 billion by industry lobby Nasscom, including the business process outsourcing business. The IT services sector's revenues will rise between 7-9 per cent in rupee terms and between 5-8 per cent in dollar terms in 2021-22, it estimated.
Its production declined for the third consecutive year in financial year 2020-21 (FY21) to an 11-year low, while sales volume contracted for the second year to the lowest since FY15. The company manufactured around 1.08 million vehicles last fiscal, a decline from 1.17 million the previous year, and a steeper fall from its all-time high tally of 1.62 million reported in FY18.
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