IT spending in India is projected to rise 6 per cent to $81.9 billion in 2021 compared to this year on the back of growth across segments like enterprise software and IT services, research firm Gartner said on Monday. IT spending in 2020 is expected to total $79.3 billion, down 8.4 per cent from 2019. "The COVID-19 pandemic stalled many digital transformation projects for Indian enterprises, mainly because of the market uncertainties and reduced cash flows," Gartner research vice president Arup Roy said.
John Leighfield, chairman (global group), RM plc, said, "We will have to take a concrete decision after weighing all options. The education scene in the country faces a major financial resources crunch and incorporating RM's educational software and services might not be a viable proposition for many schools in India only due to this." However, the company is keen on servicing clients in the country's education segment with time.
Reliance Industries, the Tata group, Bharti Airtel and Aditya Birla are among Indian conglomerates that have hedged their revenue and costs linked to the US dollar, giving them financial cover as the rupee fell past 80 against the greenback on Tuesday.
Intelligent tools are being deployed to detect content pirated from OTT platforms.
IT stocks attracted robust demand on Monday, rising by as much as over 2 per cent, on hopes that the rupee's weakness will boost dollar revenues of the software firms.
IT major TCS is planning to revamp the organisation structure to align with customers more closely, as it aims to achieve $50 billion (about Rs 3.89 lakh crore) revenue by 2030, a source aware of the development said on Tuesday. The company had garnered $25 billion in revenue in 2021. "TCS has now charted its roadmap and long-term strategy to reach the next $25 billion revenue. "It aims to get to $50 billion by the close of the decade," the source told PTI.
The company's growth was driven by a decline in total expenses, lower finance cost and higher other income.
As Wal-Mart's disclosures on lobbying generated political heat in India, records with American House of Representatives show that around 27 Indian companies have spent money on lobbying in the US.
C2C DB Systems is tightly integrated into India's warship production eco-system.
As per the agreement, Mastek's wholly-owned US subsidiary MajescoMastek would buy 90 per cent equity stake in Vector for $4.5 million payable at closing.
In India, the company serves customers such as stock exchanges, brokers, non-banking financial companies, financial services and insurance, IT and IT-enabled services.
Earlier this year, Tata Consultancy Services, the country's largest software exporter, launched iOn, a cloud computing service for SMBs.
China should be an economic partner and not a rival. China is the most suitable location to setup center to back-up operations in India because with India, China has the largest talent pool in the world.
'We look forward to providing great customer experiences in India.'
World's No. 1 venture capitalist Promod Haque of Norwest Venture Partners is in talks with five software product companies in India for funding.
TCS plans to build ignio as a standalone company.
The Centre had earlier filed a short affidavit on the matter.
The attempted hostile takeover bid of Mindtree by Larsen & Toubro is a "grave threat" and "value destructive" to the organisation collectively built over 20 years, the promoters said pledging to "unconditionally oppose" the hostile takeover attempt.
Wipro Ventures is currently managed by Biplab Adhya and Venu Pemmaraju and has so far invested in 16 early to mid-stage start-ups. While 11 of these start-ups are in the US, four are in lsrael and one in lndia.
BSE benchmark Sensex plummeted over 388 points to close at 58,576.37 on Tuesday, tracking weakness in index majors Wipro, RIL and Bharti Airtel amid a weak trend in global markets. Investors also remained cautious ahead of crucial macroeconomic data announcements -- industrial production for February and inflation rate for March -- post trading hours. The Sensex declined 388.20 points or 0.66 per cent to settle at 58,576.37. During the day, the benchmark tanked 666 points or 1.12 per cent to 58,298.57.
Nasdaq listed Sanmia-SCI Corporation is to set up a software development laboratory and a global IT support centre in Chennai with an investment of over $4 million in phase one, according to a top executive of the company.
Chinese telecom gear giant Huawei Technologies has sought permission for access to the government's 'Trusted Telecom Portal' which went live on June 15 so that it can share details about the telecom products which telecom service providers have agreed to buy from it. The move is significant as sources close to the development say that, according to Chinese telecom companies' interpretation, the new National Security Directive on the telecom sector does not in any way prohibit them from participating in the process of selling telecom equipment of any kind to private telcos. The firm is waiting for a response from the government. It declined to comment.
People familiar with the proceedings said independent cybersecurity experts from a private consulting firm, technology lawyers, government officials and WhatsApp representatives were asked questions about the Pegasus spyware and the larger issues surrounding surveillance, hacking and remedial measures.
Like software-as-a-service (SaaS), CaaS has emerged as a well-orchestrated ecosystem for cybercriminals.
This is Core's second acquisition in Atlanta.
India's software industry mounts two-pronged campaign to tackle Trump administration. Ayan Pramanik & Karan Choudhury report.
Browbeaten by recession and anxiety about mounting protectionism in key markets have led Indian information technology (IT) companies to extend their reach in the countries of Africa, the West Asia and Asia Pacific.
'Rani was apprehensive because she was doing a film outside the YRF banner after a long time.' 'She said she hoped she would be as comfortable with me as she was working in her home productions.' 'I promised her that she would feel at home.'
The board of i-flex Solutions, which met on Monday, approved a proposal to acquire US-based Mantas Inc in an all-cash deal for $122.6 million.
During the afternoon trade, ONGC commanded a market value of over Rs 2.48 lakh crore -- the highest for any listed company in India.
The survey covered 1,210 IT executives and technology professionals from North America, the United Kingdom, Australia, New Zealand, Singapore and India. In India, 202 respondents from businesses with more than 500 employees across 18 industry verticals completed the survey. Overall, 89 per cent of the respondents said implementing a work-from-home policy had increased security challenges for their organisations. The risk posed by shadow IT was especially high, with 89 per cent of companies having no control over the software that employees purchase and install on their devices.
Representatives of several bodies visited the office of NSO to assess the allegations raised in regards to the company on Wednesday, a spokesperson for Israel's Ministry of Defence said.
