Unless the law specifies, top executives are not liable for the fault of their employees.
I think the United States must realise that today 60 to 70 per cent of the growth of the revenues of large American companies comes from India and China.
Indian IT companies can take a breather as the US Senate vote for imposing stringent conditions on the hiring of H-1B visa workers.
"There would be some resetting of expectations", president of Nasscom, Som Mittal, said on the sidelines of 'TiE Entrepreneurial Summit 2008 (TES 2008)' in Bangalore. He indicated that the Nasscom would come out with a clear view vis-a-vis the growth forecast in Junuary first week, saying 'it may happen before the quarterly results start coming out'.
"While $30 billion is the achievable target, 50 billion is the aspirational target", Nasscom President Som Mittal said on Tuesday while releasing the findings of a study on India's BPO industry conducted jointly with the Everest Group, a global strategy consulting group.
IT industry body Nasscom on Monday said the country's IT companies, which exports 90 per cent of software and services to the US and Europe, may see a decline in new orders due to the global financial crisis.
The growth rate might come down by six per cent due to the competition besides economic uncertainty and lesser IT spends by the US, Nasscom President Som Mittal said. "A recent survey by Nasscom revealed the industry grew by 28 to 29 per cent in the last few years but our forecast is that it will go down to 22 to 24 per cent," he said while releasing the survey earlier this week.
Hewlett Packard on Thursday announced the launch of its new global delivery centre in Chennai.
Indian software services firm Digital GlobalSoft is targeting revenue of over Rs 1,200 crore (Rs 12 billion) for the fiscal year to March 2005 and over Rs 2,050 crore (Rs 20.5 billion) two years later.
A group of six US lawmakers had recently introduced 'The US Call Center and Consumer Protection Act of 2013' in the Congress that requires overseas call centre employees to disclose their location to US consumers.
This decision was taken at Executive Council meeting of National Association of Software and Service Companies held in Pune.
Nasscom's current president Som Mittal's term expires in January. However, Chandrasekhar, expecting to get the necessary approvals from the government soon, will start work from next month to get familiar with the organisation.
The $108-billion Indian IT-ITeS sector provides employment to about 3 million professionals.
Vistara's growth and future funding requirement would hinge on how soon the government changes these rules.
Big data analytics is an expertise that offers actionable insights and is a confluence of a host of specialisations, including mathematics, science and social sciences.
If shutdown stays for an extended period, there would be an overall macroeconomic impact that may affect the IT industry.
The depreciating rupee against dollar has a short-term benefit for the IT industry and the sector should not depend on currency management for profits, a top functionary of industry body Nasscom said.
The $108 billion Indian IT-ITeS industry is also witnessing the rise of tier II and III cities like Kochi, Ahmedabad and Kolkata as product hubs.
Officially called the Border Security, Economic Opportunity and Immigration Modernisation Act, 2013, the Bill being pushed by the Obama administration gives the domestic IT professionals in the US a 60-day period to find a new job after they lose the existing one, among several other sweeping reforms.
IT industry body Nasscom said it is quite hopeful the final contour of the bill would be much more balanced than it is at present.
Infosys may have put the visa misuse investigations behind it through a civil settlement with the US authorities, but experts believe that the episode might drag its other peers under the scanner.
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