It Sector

  • IT, pharma sectors likely to be backbone of Telangana February 21, 2014

    Post bifurcation of Andhra Pradesh, the information technology and pharmaceuticals manufacturing sectors may become backbone of Telangana economy, leaving power production, ports and oil and natural gas to play a pivotal role in driving prosperity in the residuary state. With nearly 1,000 kmlong coast line, the coastal Andhra has major private...
  • K'taka: Siddaramaiah's socialist ideologies disappoint corporate world August 10, 2013

    Bangalore: Karnataka's industry groups are unhappy with the new Chief Minster Siddaramaiah as they feel that his socialist ideologies were getting in the way of corporate development. Nearly threemonth after taking over, he isn't exactly charming to the corporate world. He has not cleared a single major project so far...
  • Renewed US demand to lift Infosys, IT sector outlook July 10, 2013

    Bangalore: The strongest growth outlook for US demand for information and communication technology since the 2008 financial crisis is likely to help Narayana Murthy revive Infosys Ltd, the Indian IT giant he founded, but the updraft will also boost its fastergrowing rivals. India's second largest computer services exporter, once seen as...
  • To revive Infosys, Murthy must revamp sales, culture June 4, 2013

    Bangalore: Narayana Murthy's success in turning around Indian IT services firm Infosys hinges on his ability to revive its sales efforts and shake up the conservative culture he helped create. Eleven years after Murthy stepped down as chief executive at India's second largest computer services exporter, Infosys unexpectedly brought back...
  • Indianorigin Cognizant CEO gets over $ 10 mn pay package May 12, 2013

    New Delhi: Offshorecentric IT services major Cognizant has paid its Indiaorigin CEO Francisco D'Souza a pay package of USD 10.61 million in cash, stocks and other benefits. The USlisted company, which has a large portion of its 1.63 lakh workforce in India, paid Frank a base...
  • K'aka: Parties woo IT professionals; will they come out and vote? April 29, 2013

    Bangalore: With less than a week to go for the Assembly elections campaigning is in full swing in Karnataka. The generals have now landed on the battlefield. After Gujarat Chief Minister Narendra Modi, now Prime Minister Manmohan Singh will start his tour of the state. He will first address a...
  • Wipro shares slump on first trading session after split April 9, 2013

    Mumbai: Shares in Wipro Ltd, India's No.3 software services provider, fell as much as 11.3 per cent on Tuesday, which marked the first trading session as a standalone IT stock after splitting its other businesses into a separate unit. Wipro's splitoff announced in November 2012 legally took effect on March 31,...
  • Hiring activity in IT sector likely to be muted this year: Infosys March 18, 2013

    New Delhi: Hiring activity in the IT sector is likely to be muted this year, Infosys Co-founder and Executive Co-Chairman S Gopalakrishnan has said. "Hiring position seems to be muted this year because many companies still have deep bench (strength), in other words their utilisation rate is still low," he...
  • Indian IT industry targets $300 billion revenue in 7 years March 5, 2013

    Bangalore: Targetting $300 billion revenue from IT sector by 2020, the industry representative body Nasscom on Monday announced expansion of its focus to include internet, mobile technology and cloud computing. Currently revenue from software and services is around $100 billion. The larger focus for Nasscom, from just software and services, has been...
  • Budget 2013: 'Invest in pharma, financial, IT sector' February 25, 2013

    While most people in the market are bullish in the run up to the Union Budget, Dipan Mehta, member of BSE & NSE doesn't see the Budget having any large impact on the equity market. The domestic and global cues, according to Mehta, will at best have a short-term effect...
  • Budget 2013: IT hardware biz seeks cut in duty, nil tax February 22, 2013

    IT hardware manufacturing industry will provide employment for notsolucky people, possessing educational qualifications like ITI and diploma, besides gender employment. Current internet density and penetration of IT have enough of headroom for growth and India being geographically at a right location in the middle of the globe, it serves as...
  • Budget 2013: IT sector demands sop for domestic companies February 22, 2013

    The Union Budget for 201213 should incorporate policies and measures to develop the domestic software industry and also focus on encouraging software products segment in the country by protecting it from foreign competition in the domestic market. The Government should promote Indian software products to develop more intellectual property for India....
  • 'India's IT sector exports to grow 1214 per cent in FY14' February 12, 2013

    Mumbai: Exports from India's IT outsourcing sector are expected to grow between 12 and 14 per cent in the fiscal year starting April to as much as $87 billion, according to the National Association of Software and Services Companies (Nasscom), the industry lobby. Exports from the industry, which counts the United...
  • Government to spend Rs 36,800 crore on IT in 2013: Report February 4, 2013

    Bangalore: Government is expected to spend Rs 36,800 crore on IT products and services in 2013, an increase of 10.5 per cent over 2012, research firm Gartner today said. This is against revenue of Rs 33,300 crore in 2012, which included spending by government organizations on internal IT (including personnel),...
  • India Inc's records decelerating sales growth: RBI January 13, 2013

    New Delhi: Indian companies recorded a decelerating sales growth rate in the first half of current fiscal, while it was 'other income' helping them post a decent growth in net profits, an analysis of Reserve Bank says. According to the analysis, published in latest monthly bulletin of RBI, the sales...
  • India IT outsourcing growth seen at lower end of forecast November 12, 2012

    Mumbai: India's $100 billion software and services outsourcing sector is likely to meet the lower end of the growth outlook for this fiscal year, an industry lobby group said as customers tread cautiously on technology spending due to global economic uncertainty. The National Association of Software and Services Companies (Nasscom) had...
  • Nilekani in favour of using IT to tackle corruption November 1, 2012

    New Delhi: UIDAI Chairman Nandan Nilekani on Thursday said a strategy to tackle corruption at all levels can be effectively and systematically done by use of information technology. "Systemic changes by reengineering process that interface with the common man through the use of innovative technology solutions will go a long...
  • No offshore: US ruling to hit Indian IT sector July 5, 2012

    Mumbai: In what could be a major setback to the 100 billion dollar Indian IT industry that thrives on offshore revenues, the US on Wednesday proposed two deals with a mandatory 'no-offshore' clause. It has been learnt that of the two deals, the first is a 320 million dollar deal in...
  • IT sector slows down hiring to cut costs June 1, 2012

    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,"...
  • Pay packets for freshers in IT sector on the rise May 8, 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...
  • IT sectors to see slower spending growth in 2012 January 5, 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...
  • 2012 will be a challenging year for IT firms: TCS December 15, 2011

    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...
  • Mamata invites IT giants to invest in Bengal December 8, 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)...
  • Job growth to slow down in non-IT sectors: report September 25, 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...
  • Sensex down 155 points in opening trade May 4, 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. ...
  • Nothing cheering for IT sector: Budget 2011 March 1, 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...
  • I-T Dept slaps Rs 450cr demand on Infosys February 25, 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...
  • Budget 2011: IT industry's wish-list February 24, 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...
  • Budget should focus on employment: Infosys February 24, 2011

    The Indian IT sector lost out on 250,000 jobs in 2010 to China and Philippines disclosed TV Mohandas Pai, Director, Human Resources and member of Infosys board. In a candid chat with CNBC-TV18’s Latha Venkatesh and Sonia Shenoy, Pai said, the pain factor in doing business in India is long. “The...
  • IT firms hope for STPI extension in budget February 23, 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...