The export of software and information technology services to Japan could triple to $1,500 million in the near future if Indo-Japan double taxation avoidance agreement is renegotiated.
Singh, accompanied by Army Chief Gen Manoj Pande, also carried out a comprehensive review of India's military preparedness along the Line of Actual Control (LAC) in Arunachal Pradesh and lauded the troops for guarding the border with "unwavering commitment and unparalleled courage."
In its Strategic Review 2009 report, Nasscom said that in the current fiscal, the exports could touch $47 billion, without giving estimates for 2010.
"The experience was incredibly enriching, significantly bolstering my confidence in our country's indigenous capabilities, and leaving me with a renewed sense of pride and optimism about our national potential," he said.
If Tesla comes in, India's position as a manufacturing hub will rise many notches, as it will become only the second country, after China, to have both Apple as well as Tesla.
The new mantra was to align Apple's ambition with the government's, focusing on Modi's favourite themes of Make in India, employment generation and India as a high-tech export hub.
HAL helicopters will be equipped with an 'Obstacle Avoidance System' that warns pilots of any obstacles in their flight path.
During 2006-07, electronics and IT exports are estimated to be Rs 1,53,300 crore (Rs 1,533 billion), compared to Rs 1,13,725 crore (Rs 1,137.25 billion) in FY05-06, a growth of about 35 per cent.
DRDO's latest tank will face trial in Rajasthan's summer which will be followed by 'user trials' ahead of facing battle in high-altitude deserts of eastern Ladakh and Sikkim, reports Ajai Shukla.
'Some risks to this market rally include inflation, erratic weather conditions, rising crude prices, slowing global growth and the resultant impact on domestic exports, escalation in geopolitical tensions.'
Indian technology industry has a "big opportunity" despite global macroeconomic challenges, said Rishad Premji, chairman of IT services firm Wipro, on Wednesday as he spoke about how Covid-19 had changed work. "My confidence is driven by two things: the rapid pace of digitisation across the world, and the shift in the mindset of stakeholders who engage with us as an industry," said Premji in Bengaluru while addressing industry leaders and civil servants at the Invest Karnataka 2022, the state's Global Investors Meet (GIM). Businesses are using technology for customers and employees: a trend marked by the shift to cloud computing and leverage of data.
'Midcap and smallcap indices are trading in the expensive zone.'
Here are list of some of the big ticket announcements.
Infosys, the country's second largest information technology exporter, plans to sharpen its focus on specific segments for select regions as part of its strategy for expansion and servicing of new markets.
The government is likely to extend fiscal incentives for production of toys, bicycles and leather and footwear in the forthcoming budget as it looks to expand production linked incentive (PLI) scheme to cover more high-employment potential sectors, sources said. The government has already rolled out the scheme with an outlay of about Rs 2 lakh crore for as many as 14 sectors, including automobiles and auto components, white goods, pharma, textiles, food products, high efficiency solar PV modules, advance chemistry cell and speciality steel. The scheme aims to make domestic manufacturing globally competitive and create global champions in manufacturing, and it is yielding solid results, sources said.
'Earnings will be the catalyst for markets to march higher from here on out.'
Keen to capitalise on the growing geopolitical support from African nations after the recently concluded G20 Summit, India is working with the African Union to hold the fourth India-Africa Forum Summit later this year in Kenya's Nairobi, sources said. Prime Minister Narendra Modi is expected to attend the mega meet along with as many as 50 African leaders, they added. First held in New Delhi in 2008, the India-Africa Forum Summit marked India's initial diplomatic efforts to seek a comprehensive partnership with the African bloc of nations as a whole, at a time when China had begun its own outreach.
India and the US on Thursday said they are looking forward to the reconvening of the India-US Trade Policy Forum later this year to further enhance trade relationship and identify new areas for engagement.
Software exports from Tamil Nadu are expected to cross Rs 40,000 crore (Rs 400 billion) in 2009-10, Tamil Nadu Information Technology Minister Poongodhai informed the assembly.
Wipro is betting on artificial intelligence (AI) and Cloud computing to earn more from its biggest contributor - the banking, financial services & insurance (BFSI) sector - which brought in 35 per cent of the revenue in FY23. The Bengaluru-headquartered firm also expects its consultancy arm Capco to aid in its vision. "Over the past few years, we have made significant investments in the BFSI sector and have improved our talent, capabilities, and processes in this space - both through organic investments and with the addition of Capco," Suzanne Dann, Wipro's chief executive officer for Americas 2 said.
Their favourite alternatives: Malaysia, Vietnam and the Philippines. Note, India is missing from that list. And this is despite an attractive financial incentive scheme for OSAT players. The reason, said a senior executive of a US chip company who had a meeting in Taiwan just a few weeks ago, is that "they want more predictability in government policy because they plan to put in big money."
While the corporate sector has benefited from massive capital expenditure, leading to sky-rocketing stock prices, investors would do well to keep an eye on the macroeconomic picture and government finances, not just corporate profits, for signs of trouble, alerts Debashis Basu.
The policy proposes a single-window platform for facilitation of the Indian software product industry, to help fast-track legal and regulatory issues over import and export, as well as setting up and winding up enterprises.
Prime Minister Narendra Modi on Saturday announced the adoption of the New Delhi Leaders Declaration, a significant victory for India's G20 presidency that came amid increasing tensions and divergent views over the Ukraine conflict.
India's information technology services export is only 2 per cent of the worldwide IT spending despite the global focus on the country's offshoring capabilities, merchant banker Goldman Sachs said in its latest report.
Russia proceeds "from the postulate, a negotiated solution to the Palestinian-Israeli conflict has no alternatives," said Putin while speaking at the Commonwealth of Independent States summit in Bishkek, Kyrgystan on Friday.
Even as banks and finance companies are reporting record-high earnings, their weighting in the benchmark National Stock Exchange Nifty50 Index has seen a downward trajectory. Investors expect a stronger performance from other sectors in the new year. Currently, banking, financial services and insurance (BFSI) companies collectively hold a weighting of 34.5 per cent, down from 36.7 per cent at the end of December 2022 and a record high of 40.6 per cent at the end of December 2019. This represents the sector's lowest weighting in the index since December 2021 when it stood at 33.7 per cent.
India is poised to become a leading software exporter in the next five years with its software exports expected to touch $50 billion by 2008.\n\n\n\n\n\n
Indian policymakers are almost alone, alongside the United States, in seeking a hard and multi-sectoral global decoupling from China in the expectation that it will boost their economies, observes Mihir S Sharma.
Go-getter, ambitious, dynamic, workaholic are some of the adjectives that officials who worked closely with B V R Subrahmanyam use to describe him.
'The deal pipeline across products is robust for 2024.'
If it continues to do well economically, develops a large manufacturing sector, gains in technological heft, builds a more capable defence industry, improves its human development indicators, becomes more of a trading nation, and has greater internal cohesion. In short, it is a work in progress, suggests T N Ninan.
"Till the second quarter of last fiscal, the industry was on track to achieve the $50 billion export target by 2008-09. The aspiration to reach $60 billion by fiscal 2010 is at risk since an unprecedented slowdown is expected in key markets overseas, especially the US and Europe, which account for about 80 percent of Indian software exports," Nasscom president Som Mittal said. Nasscom has now extended the target year for achieving $60 billion export revenue to 2011.
India's fourth largest software services exporter HCL Technologies on Thursday reported a 63.8 per cent rise in consolidated net profit at Rs 1,416 crore (Rs 14.16 billion) for the first quarter ended September 30, 2013, on the back of growth in Europe and encouraging macro-economic trends.
'Similar to the case of the digital payment system where the government created a public platform and others joined in, we are exploring a similar structure to create a PPP platform where the compute required for AI could be accessed by the small player.'
'A change we have seen after the Russia-Ukraine war is the energy crisis in Europe.' 'Earlier, in Europe, people used to change their clothes after 5 washes, now they are using it till 15-20 washes.' 'They used to change their entire wardrobe after 2 months or so, but because of the economic conditions, it has changed.' 'It has affected exports as 40% of our exports is to Europe, 30% to the US and 10% to the UK.' 'The war has to end for better days to come.'
