IT Services Industry

AI-native startups are reshaping India's IT services landscape as automation drives efficiency and innovation, with the sector projected to touch $400 billion by 2030

Cognizant's Surya Gummadi predicts IT services growth will return once enterprises deploy AI across technology stacks, though macro dynamics may delay this for some time

The Nifty IT index has fallen by 18.3 per cent so far this year, the worst among key sectors. During the same period, Nifty has risen by 4.7 per cent

TCS shares extended their decline for the fourth consecutive session, slipping 4 per cent after it announced plans to lay off roughly 2 per cent of its global workforce

TCS and Infosys did most of the net hiring in the last financial year, followed by Tech Mahindra while Wipro added very few people

Traditionally, IT services firms followed a pyramid structure, with a broad base of fresh graduates supporting scalability and a large bench strength ready for deployment

IT sector growth is expected to remain subdued in the near term due to global economic headwinds and policy uncertainties in the US and Europe

Infosys announced a deal with German tech giant Siemens AG to boost its digital learning initiatives with GenAI

According to the latest BCG report 'The GenAI Adoption Conundrum', over 80 per cent of developers acknowledge its advantages, citing increased productivity and efficiency

The minister for IT and biotechnology and rural development and Panchayat Raj, government of Karnataka, said the state should get its share of such opportunities as it is a hub for IT services exports

While the 'Make in India' initiative has boosted domestic smartphone manufacturing, the $200 billion Indian IT services industry remains focused on international markets over the domestic one

The Bengaluru-based firm for the second consecutive quarter upped its guidance. It now expects FY25 revenue to grow in the range of 3.75-4.5 per cent. From the earlier 3 - 4 per cent

Revenue for the March quarter was marginally down by 1 per cent from the year-ago period to Rs 22,300 crore

The Indian IT services industry is likely to register a second consecutive year of muted revenue growth, estimated at 4-6 per cent in FY2025, but the operating profit margin is expected to be healthy, according to ICRA. The persisting challenges and tepid topline growth notwithstanding, ICRA has forecast the industry's operating profit margin (OPM) at a healthy about 22 per cent in FY2025, with attrition levels having declined considerably and seen stabilising over the near term. Despite expectations of continued subdued growth, ICRA has maintained its "stable outlook" on the Indian IT services industry, led by a well-established business position, expectation of healthy earnings and cash flow generation, and strong balance sheets of sector players. "ICRA expects FY2025 to be the second consecutive year of muted revenue growth (for its sample set companies), estimated at 4-6 per cent, given the lower discretionary technological spends by clients amidst persistent macro-economic ...

For Happiest Minds, Q1FY25 was one of the best in terms of growth since the company got listed in September 2020

The US economy expanded 2.8 per cent in the second quarter and 1.4 per cent in the first quarter of 2024

Nasscom was reacting to the Rs 32,400 crore goods and services tax (GST) demand from India's second-largest IT services firm, Infosys

Transport providers, businesses and governments on Saturday are rushing to get all their systems back online after long disruptions following a widespread technology outage. The biggest continuing effect has been on air travel. Carriers cancelled thousands of flights on Friday and now have many of their planes and crews in the wrong place, while airports facing continued problems with checking in and security. At the heart of the massive disruption is CrowdStrike, a cybersecurity firm that provides software to scores of companies worldwide. The company says the problem occurred when it deployed a faulty update to computers running Microsoft Windows, noting that the issue behind the outage was not a security incident or cyberattack. Here's the Latest: Britain's transport system still trying to get back on track LONDON Britain's travel and transport industries are struggling to get back on schedule after the global security outage with airline passengers facing cancellations and de

Infosys is expected to lead the tier 1 Indian IT universe with the strongest growth, led by ramp-ups of multiple mega-deals, and a low base effectively providing one per cent kicker to June 2024

The settlement resolves all pending disputes between Dalal and Wipro, said the company in a statement