IT-ITeS Sector

A senior UP government official said the state has identified five cities viz. Noida, Lucknow, Kanpur, Varanasi, and Prayagraj (Allahabad) to develop such hubs

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All segments declined except the government, which grew by 91.5 per cent YoY on the back of government orders, leading to strong growth in the third consecutive quarter

In FY22 the ITeS sector's revenue logged 13-15% growth to about Rs 3.1 tn, riding on volume recovery across the three key segments - customer relationship management (CRM), knowledge, and transactions

The top 10 companies account for about 91 per cent of all employment among listed IT and/or ITeS firms and they make 92.4 per cent of all wage payments to them

Mumbai Metropolitan Region or MMR accounted for 33 per cent of the total sales, followed by NCR with a 16 per cent share, Anarock said

This is a long-standing issue between the IT-BPM industry and the government

The move comes as a major relief to several entities that were denied refunds when they were exporting services to their parent or subsidiary companies abroad

Net income for the first quarter of CY21 was $505 million, up 37%

80 per cent companies said that the law will hurt their business and investments plans, according to Nasscom survey

Nearly one in five employers also said that virtual hiring reduced bias in the recruitment process

Experts say the move will also encourage companies to focus on innovative products and solutions and improve BPM delivery efficiencies

The new rules are aimed at providing a strong impetus to the industry and positioning India as one of the most competitive IT jurisdictions in the world

Exports constitute more than 85 per cent of the industry's revenue, and due to Covid-19 induced slowdown around the world, they are at risk

$825 bn stimulus package announced by the European Commission to help banking, financial services insurance sector.

The decision will help ensure business continuity and employee safety, industry executives said.

Digital initiatives of several global enterprises have been cancelled or postponed in the last couple of months as the Covid-19 crisis has prompted firms to halt non-revenue generating ventures

Govt announces 10,000 crore fund of funds for MSMEs to grow, cancels global tenders below Rs 200 crore

Adityanath government institutes exclusive cells to help industries

Most companies are going to continue to let employees work from home