India's It Industry

Tech sector crucial for India's $7 trn economy goal by 2030: Nasscom Prez

As India looks to become a USD 7-trillion economy by 2030, the tech sector is poised to play a pivotal role by contributing about USD 1 trillion to the GDP, driving innovation that solves both domestic and global problems, nasscom's Rajesh Nambiar has said. The IT industry body President emphasised the critical role of technology in shaping India's future and noted that achieving this goal will require the tech sector to lead in innovation, particularly through deep tech, which will be instrumental in transforming various sectors such as healthcare and financial services. India's vision of becoming a Viksit Bharat by 2047 will be shaped not just by economic growth, but by the depth and the impact of technological innovations, he said during the inauguration of Startup Mahakumbh. "To achieve the ambition of becoming a USD 7 trillion economy for India, I think the tech sector alone will have to contribute roughly about a trillion dollars in terms of GDP, and this will have to drive ..

Indian IT services sector to see 4-6% revenue growth in FY26: ICRA

Hiring is likely to remain low until growth momentum picks up by the end of FY26

Govt keen on innovation-driven AI, its responsible use: MeitY Secy Krishnan

Krishnan said the next AI summit will be hosted in India later this year

IT major HCLTech marginally hikes salaries of junior-level employees

HCLTech, which is also set to release its third-quarter earnings on January 13, is projected to lead growth among Tier-I IT firms

India's tech sector needs 1 mn high-tech engineers as economy expands

India's $250 billion tech sector plays an important role in the economy, employing about 5.4 million people

Tech Mahindra adopts Microsoft Co-pilot GenAI tool to 'modernise workplace'

IT company will also deploy GitHub Copilot for 5,000 developers, expecting a 35-40 per cent boost in productivity

TCS' outlook improving after 2 years of recessionary fears: Chandrasekaran

GenAI will we have impact 'not previously seen or imagined', says IT company's chairman

The expendables: Is the COO position becoming redundant in India?

The COO position is being reassessed as leadership roles get recalibrated and leaders and boards want to keep their structure flat and nimble to make decisions faster than ever before

To cut costs, Indian tech companies expanding into smaller cities

The change also comes as state governments offer stamp duty concessions, land benefits, subsidised power and other incentives to bring jobs to smaller cities

Tech industry growth projected to halve to 3.8% in FY24 compared to FY23

Industry expected to generate additional $9.3 billion in revenue, spanning across IT services, business process management engineering services: Nasscom

Indian talent in IT sector crucial to bringing jobs to India: Anurag Thakur

Hailing the Narendra Modi-led government, Thakur said MODI stands for "Master of Digital Information" and also maker of developed India - Viksit Bharat

Results preview: IT firms may report muted Q4 growth, eyes on FY25 guidance

January-March quarter, is considered to be a soft quarter, and will continue to see the headwinds that the sector has been facing. And the sector will enter the new financial year on a weak footing

IT services provider LTIMindtree grooming two insiders for CEO job

Chief Operating Officer Nachiket Deshpande and President Sudhir Chaturvedi are the front-runners for the role

HCLTech teams up with SAP to drive innovation, adopt generative AI tech

IT services company HCL Technologies (HCLTech) has teamed up with SAP to drive innovation and accelerate the adoption of Generative AI, according to a release. With this collaboration, HCLTech will partner with SAP to develop solutions that enable businesses to get better outcomes and speed up business transformation. In partnership with SAP, HCLTech plans to create a repository of Gen AI use cases specific to SAP software, the release added. The use cases will complement cloud solutions from SAP and help customers explore the potential of enhancing SAP solutions with Gen AI. "By bringing together HCLTech's engineering expertise across various industries with SAP Business Technology Platform (SAP BTP), HCLTech aims to deliver innovative solutions that boost employee productivity, streamline operations, accelerate application development and optimise business processes," it added. HCLTech also plans to establish a dedicated Gen AI Center of Excellence, the focus of which will be to

Non-compete clause for IT freshers in India unenforceable: Experts

Experts have stated that non-compete obligations are valid only during employment and cannot hinder an employee from joining a competitor post-employment

Accenture skips pay hikes and promotions in India and Sri Lanka this year

The US-based IT firm has cited challenging macro environment and slower growth than was initially planned as reasons for skipping pay hikes during the company's financial year (September to August)

Simple authorisation process likely for imports of IT products from Nov 1

The government is likely to put in place a simple import authorisation procedure and not a licensing process for inbound shipments of laptops, tablets and computers from November 1, according to sources. However, they said the commerce ministry is awaiting a final word on the issue from the Ministry of Electronics and Information Technology (MeitY). The government in August imposed import restrictions on laptops and computers (including tablet computers) with a view to boost domestic manufacturing and cut imports from countries like China. As per the notification of the Directorate General of Foreign Trade (DGFT), the restrictions will come into force from November 1. While the IT hardware product industry comes under MeitY, the DGFT notifies decisions with regard to import/export of a product. Following this notification, IT hardware industry had flagged concerns. "It will be more in the nature of an import management system where people will be issued an authorisation. It will

IT mid-caps stick to steady growth amid uncertain macroeconomic environment

Firms such as Persistent Systems (Persistent), Coforge, KPIT Technologies (KPIT), and Cyient performed better on key performance metrics

Right on intention, poor on scoping: IAMAI on draft rules for online gaming

The Internet and Mobile Association of India (IAMAI) on Thursday said the draft IT Rules on online gaming are "right on intention but poor on scoping". While the proposed rules are a "very positive development" for the online gaming industry ecosystem for three reasons including creating a legal framework for orderly and accelerated development of the industry, the "scoping of the rules has been done poorly" and the some aspects need a "major re-look", the industry body said. These include the definition of gaming and what is sought to be regulated. "Here the members of the association feel that the definition of online gaming is too broad and vague and would unnecessarily bring under regulation and expensive compliance a set of firms that do not need to be regulated or need to be very lightly regulated," IAMAI said in a statement. Further, it said certain provisions of the draft also seem to imply that service providers or partners that advertise, publish or host online games will

Use corrections in IT sector as buying opportunities, say experts

Stellar long-term track record, growing digitalisation augur well for IT sector funds