A senior government functionary claimed on Thursday that the average estimated cost of MQ-9B long endurance drones for India would be 27 per cent lower than the price incurred by other countries which have bought it from the US, asserting that it will most likely go further down during negotiations unless India seeks additional features.
Based in California and having a strong presence in Bangalore, Narus is a leading provider of real-time network traffic and analytics software used to protect against cyber attacks and persistent threats aimed at large Internet Protocol networks.
Stricter regulations in US forces industry to look at these countries with a market size of $300 billion
The government on Thursday tweaked curbs on imports of laptops and computers as it allowed importers to bring in shipments of IT hardware from overseas on a mere 'authorisation' upon detailing quantity and value. The new 'import management system' is aimed at monitoring shipments of laptops, tablets and computers into the country without hurting market supply or creating a cumbersome licensing regime. The announcement is likely to provide relief to companies in the IT hardware segment in India as they had flagged concerns over the imposition of a strict licensing regime for importers.
Infosys on Thursday posted a 7.8 per cent year-on-year rise in consolidated net profit at Rs 6,128 crore in March quarter of FY23, and gave 4-7 per cent revenue growth forecast for FY24 amid macro economic uncertainities. The net profit (after minority interest) stood at Rs 5,686 crore in the fourth quarter of FY22. Seen sequentially, the net profit for Q4 came in 7 per cent lower.
An unprecedented 740 Indian companies from industries as diverse as casting to agro-chemicals to coffee bars to regulars such as software and banking were involved in mergers and acquisitions and private equity deals worth $26.7 billion.
Bangalore-based Ittiam Systems, which is in the digital signal processing space, is a case in point. Its business model is royalty-driven. It creates intellectual property by way of software and hardware designs, which are used by original equipment manufacturers in areas like mobile internet devices, IP-based networks, video security systems and medical screening.
In March this year, Worldline India launched Vabox (Voice Alert Box): merchants will now get instant audio alerts on the settlement of UPI (Unified Payments Interface) payments via QR codes in languages of their choice when customers check out. "They needn't worry whether the amount has been credited to their account," says Gulshan Pruthi, the firm's executive vice-president. The French payments giant will roll out 500,000 Vaboxes in the initial phase.
First sequential decline in a decade as 8 of top 15 software firms report drop in manpower
Infy board gets law firm to probe 'lapses', appoints Cyril Amarchand Mangaldas to engage with founders.
Murthy's letter comes even as Sikka celebrates the completion of three years at the helm of India's second largest software exporter.
India has emerged as a favoured location for captive technology units of Walmart, Lowes and Daimler.
The Indian startup ecosystem has lauded the inclusion of startups in the New Delhi Leaders' Declaration for the first time ever in the history of G20. Industry stakeholders say that the move will lead to easier access to capital, reduce regulatory hurdles, and may revive funding activity. The Declaration, through the Startup20 initiative, recognised startups as "natural engines of growth" and key to socio-economic transformation by driving innovation and creating employment.
The cloud market in India is expected to grow by 26% by the end of 2022.
Taiwan-based technology firm Winstron Group is exploring the feasibility of setting up a manufacturing base in India, a top official said on Saturday.
Software services firm Sasken Communication Technologies Ltd has acquired Finland-based Botnia Hightech Oy, a leading provider of wireless research and development and testing services, for about Rs 209 crore (Rs 2.09 billion).
Britain's UbiNetics, a wireless technology firm, said Thursday it planned to invest $27 million in expanding its operations in India where it already conducts much of its research.
Major IT firms are expected to post up to four per cent growth in dollar term revenue in the second quarter of the fiscal on the back of favourable currency movements and improved business demand, analysts say.
IT major i-Flex Solutions on Tuesday said it was planning to acquire two entities in the US and France as part of its efforts to have inorganic growth.
The business is impacted by low volume growth amid Christmas and New Year holidays.
IT spending in India is expected to touch $101.8 billion in 2022, up 7 per cent from this year, according to research firm Gartner. India's information technology (IT) spending across areas like communication services, data centre systems, IT services and software is expected to grow 10.8 per cent to $95.1 billion in 2021 from $85.8 billion in the preceding year. Gartner Research vice-president Arup Roy said, "The digital transformation trajectory that began as a pandemic response is here to stay for the next few years. "India has experienced one of the fastest recoveries despite being one of the worst-hit regions in the second wave of the pandemic in early 2021."
Today, however, the major six IT MNCs alone -- IBM, Accenture, Capgemini, EDS, HP and ACS -- account for over 9 per cent of the Indian IT-BPO workforce. Overall, MNCs in India account for an estimated 14-15 per cent of the Indian IT workforce.
Investors seem to be shying away from stocks of companies in the 'digital' space with most counters that comprise the Nifty India Digital index giving negative returns over the past year. The index tracks the performance of a portfolio of stocks that broadly represent the 'digital theme' within basic industries, such as software, e-commerce, IT-enabled services, industrial electronics, and telecom services. The fall in some of these stocks over the past year has been steep; the sharpest decline of around 60 per cent was seen in shares of PB Fintech (parent company of Policybazaar).
Chinese phone maker Xiaomi's India unit has been slapped with a Rs 653 crore notice for alleged evasion of import duty, as per an official statement. A show-cause notice has been slapped on Xiaomi India following recovery of documents during searches on its premises that indicated remittance of royalty and licence fee to US and Chinese firms under contractual obligations, the union finance ministry said on Wednesday. Replying to an email query, a Xiaomi spokesperson said, "At Xiaomi India, we give utmost importance to ensuring we comply with all Indian laws.
Indian software services firm Mascot Systems Ltd said on Wednesday it planned to acquire a division of Delhi-based IT&T Ltd for Rs 21.3 crore
Theresa May's visit to a Bengaluru aerospace systems supplier is seen as the UK's strategy to pursue new defence deals.
Meenakshi Sundareshwar is a Basu Chatterjee slice-of-life packaged in a glossy ad film whose source of heart are its two genuinely likeable leads, feels Sukanya Verma.
Analysts factor in 200-300-bps impact on sales in FY16
TCS has been Three UK's partner for 15 years, working with a variety of business units and has been instrumental in supporting the company's ambition of becoming the world's first telco to host all its applications entirely on the public cloud.
Manisha Sharma (name changed) was always among the high achievers in her company. She was recognised and rewarded for those efforts as well. Mid-December 2022, however, she received a jolt: an email informing her that she had been laid off - along with several of her colleagues. Sharma worked for a big tech firm, which had decided to downsize. And just like that, she was asked to go. "It did come as a shock," she says. "I did not take calls for the first two days, but then realised there is no point in beating oneself up for a situation that's not in your hand. "I thought let this be an opportunity to take a break. I'll now start looking for a job," she adds.
The government told the Rajya Sabha on Thursday that US firms, outsourcing business services to India and other countries, were opposed to the controversial New Jersey bill that seeks to prevent cheap outsourcing from other countries.\n\n\n\n
'In the long run, I don't foresee major ramifications [about Trudeau's allegations].' 'There's just enough hypocrisy among Western nations for India to douse the outrage.'
Indian start-ups breathed a sigh of relief after the UK government facilitated the acquisition of the now-defunct Silicon Valley Bank's (SVB's) British arm by HSBC. In a bid to allay fears, the US Federal Deposit Insurance Corporation (FIDC) announced recently that it had transferred all deposits of start-up-focused SVB to a newly created bridge bank and all depositors would have access to their money. President Joe Biden also sought to reassure jittery depositors that they can have confidence that the US banking system is "safe".
As much as 70% of the 20,900 users globally, reached through an online survey, say they use public wi-fi for checking e-mail, logging into social media accounts or sharing files.
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