New Delhi: Information technology sector in the country witnessed steep decline in hiring activities as most companies embraced cost cutting measures to tide over uncertain economic conditions, say experts. "Hiring activities have seen a dip of 29 per cent in IT and ITeS sectors in May 2012 from the preceding month," MyHiringClub.com CEO Rajesh Kumar said. However, he said that other industries have increased recruitment activities by 13-15 per cent...
04:44 PM, Jun 01, 2012
New Delhi: Notwithstanding the economic uncertainty, fresher recruitment and salary levels have seen an upward trend in the IT and ITeS sector during the January-March quarter of 2012 compared to other sectors in the same period, shows a survey. The survey findings reveal that IT and ITeS Sector had recruited 24 per cent freshers in the last quarter of FY'12 of their total hiring, a surge of 9 per cent...
08:30 PM, May 08, 2012
Thiruvananthapuram: The StateGovernment is committed to formulate new schemes to overcome the stagnantsituation prevailing in the IT sector and to create aninvestment climate andattract prominent international companies to invest in Kerala, Chief MinisterOommen Chandy said. Inaugurating the CII IT Summit here on Thursday, the Chief Minister said that in the scenario in which IT trade was estimated to register a turnover of Rs 10 lakh crore in the country by...
12:32 PM, Jan 20, 2012
Bangalore: Worldwide IT spending is forecast to total $3.8 trillion in 2012, a 3.7 per cent increase from the previous calendar year, according to the latest outlook by technology researcher Gartner. In 2011, worldwide IT spending totalled $3.7 trillion, up 6.9 per cent from 2010 levels. Gartner has revised downward its outlook for 2012 global IT spending from its previous forecast of 4.6 per cent growth. All four major technology...
03:35 PM, Jan 05, 2012
Mumbai: The depreciation in rupee's value is likely to benefit software exporters, but the global macro economic situation will pose a challenge for the industry next year, a top official of IT giant TCS said on Thursday. "This year has gone very well and better than what we expected. Next year it will be some kind of stressful environment and every government will try to avoid the Lehman kind of...
09:43 PM, Dec 15, 2011
Kolkata: West Bengal Chief Minister Mamata Banerjee on Thursday announced full support for development of the IT and technology sector in the state. "It's an open offer, you just tell me, I will do. This government is fully committed," she said at Infocom 2011. Pointing out that this sector (IT and technology) is an employment potential area, Banerjee said the state had formed two high-power committee under the leadership of...
03:58 PM, Dec 08, 2011
New Delhi: Growing economic uncertainty may slow down hiring activities in a host of sectors, but the IT space is likely to remain unaffected and NRIs returning home due to the gloom in Western markets might emerge as an attractive talent pool, experts believe. Companies in the telecom, financial services, construction and auto sectors are going slow with their hiring plans, primarily due to spiralling costs, interest rates and inflationary...
05:47 PM, Sep 25, 2011
Mumbai: Continuing its losing streak for the 8th straight session, the Bombay Stock Exchange benchmark Sensex fell by 155 points in opening trade on Wednesday on sustained selling by foreign funds and retail investors after the RBI raised key policy rates by 50 basis points on Tuesday. The 30-share barometer, which lost over 1,068 points in the previous seven sessions, fell further by 155.69 points, or 0.84 per cent, to...
09:47 AM, May 04, 2011
New Delhi: The 2011-12 Budget has failed to bring cheer to the Indian IT sector as Finance Minister Pranab Mukherjee did not make any major announcements to boost the segment. IT companies were batting for reduced tax rates and continuation of sops under the STPI to help the industry, which is seeing a recovery in demand after almost two years of slowdown. "I propose to increase the rate of Minimum...
03:41 PM, Feb 28, 2011
The Income Tax Department has slapped a tax demand of over Rs 450 crore on software giant Infosys Technologies for wrongfully claiming tax exemption on onshore services by declaring them as software exports, Parliament was informed on Friday. Onshore software development is the practice wherein Indian companies send their software engineers on short assignments (3-6 months) to companies based in Europe, the US, and other nations. "A notice has been...
03:15 PM, Feb 25, 2011
Some things don't change like the IT industry's budget wish list. Much like the last 5 years, this year's list also leads with an extension of the tax benefits under the software technology parks of India scheme. The Indian IT industry has submitted a long list of demands to the finance minister and while this has a few new demands, most are ones that have been seen on the list...
12:38 PM, Feb 24, 2011
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10:31 AM, Feb 24, 2011
Indian information technology firms are looking for increased spending on education, e-governance and defence sectors, and an extension by at least one year of tax benefits under the Software Technology Parks of India (STPI) scheme, but many think it is unlikely. STPI was a society set up by the Ministry of Information Technology in 1991 to boost software exports. Among other benefits, the STPI scheme provides a 10-year income tax...
05:15 PM, Feb 23, 2011
Wipro, the global IT services major and a leading provider of IT and business transformation services, has achieved a milestone by turning ten in the Middle East. Wipro, which commenced operations in the UAE and Saudi Arabia in 2001, today has a presence spread across Sharjah, Abu Dhabi, Kuwait, Qatar, Al Kobar, Riyadh, Jeddah and Bahrain. The company has 1300 employees servicing the region and 100 plus customers, a company...
12:30 PM, Feb 22, 2011
Indian information technology major Infosys Technologies is likely to defer its re-structuring plans, reports CNBC-TV18 quoting sources. Infosys was to announce a new structure on February 23 as the present structure was based on verticals and horizontals. Infosys said the company has seen a pick up in client demand. The company does not see the need to make dramatic changes at present, sources added. ...
02:39 PM, Feb 21, 2011
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