Indian It Industry

Nasscom announces SAP Labs India MD Sindhu Gangadharan as chairperson

IT industry body nasscom on Monday announced the appointment of SAP Labs India Managing Director Sindhu Gangadharan as its chairperson with immediate effect. Gangadharan takes the chair from Rajesh Nambiar, who has been appointed president-designate for nasscom (National Association of Software and Service Companies). "Nasscom has played a pivotal role in propelling India's emergence as a global innovation leader. With our nation's robust engineering R&D capabilities, innovative potential, and extensive digital talent pool, India is well-positioned to spearhead large-scale digital transformations that are sustainable and inclusive," she said. The first woman to lead SAP Labs India, Gangadharan was appointed as the Chair for nasscom GCC Council last year. A board member of Siemens India and Titan Company, she is also a member of the Steering Committee of the Indo-German Chamber of Commerce. Last week, Nambiar stepped down from IT firm Cognizant as its India MD and chairman. The ...

Vineet Nayyar's legacy of innovation will shape industry for years

Vineet's indomitable spirit and unwavering commitment to making a positive impact have left an indelible mark on all who had the privilege of knowing him

LTTS signs €45 mn deal to train European auto supplier Forvia's engineers

5-year partnership also involves Indian company providing engineering services to Forvia

TCS looking to increase prices to boost operating margins: CFO Seksaria

The company said it is expecting a "better" fiscal 2025 on a robust deal pipeline including a record $13.2 billion worth of orders in the reporting quarter

Troubles for Indian IT firms linger as clients tighten their budgets

Accenture Plc lowered its revenue outlook last month, citing a pullback in software spending by Wall Street firms, which are among the Indian companies' biggest clients

Cognizant defers annual salary hikes to Aug 1, says 'recognises hard work'

Nasdaq-listed information technology company employs some 250,000 people in India

Integration challenges, valuations key hurdles for LTI Mindtree investors

Centrum Research believes that the company has sufficient operating levers that will help it report a higher margin in FY25 vs FY24

Claim your tax deduction on health checkup and specific treatments

Maximise savings by tapping into lesser-known deductions besides the one on health insurance premium

TCS to diversify to other markets amid US weakness: CEO Krithivasan

"We believe it (fiscal 2025) could be a better year than fiscal 2024," Krithivasan said

Apple set to shutter 121-person San Diego AI Team in reorganisation

Apple told employees that they have until the end of February to decide if they will relocate, according to the people. If they don't, the workers will be terminated on April 26

Indian IT industry to be worth $350 bn by 2030: Kris Gopalakrishnan

'High-growth industry' will continue performance despite global slowdown, says co-founder of Infosys

IT industry hiring weakens on global macro woes, slow discretionary spends

Weak global cues and a cut in discretionary spending by clients are expected to sharply reduce campus intake by the Indian IT industry this year with market watchers saying that Infosys and HCL Tech's subdued take on hiring signals a tough road ahead for freshers in the near term. In the opening week of Q2 earnings season, IT biggies TCS, Infosys and HCL Technologies reported a sequential drop in employee tally - a staggering 15,800 on a cumulative basis. The Q2 scorecard of tech heavyweights fell short of expectations as global growth skid on elevated levels of inflation and interest rates, reduced investment, and geopolitical shocks, exacerbating worries. Tech companies say that clients continue to defer newer, non-critical initiatives, choosing to focus on optimisation. While global voices concede that there are no signs of bottoming out just yet, JP Morgan's Jamie Dimon has warned that the world is facing the 'most dangerous time in decades'. Meanwhile, Infosys's headcount fell

India-Canada rift bad for business; IT firms may struggle to land new deals

Canada makes up to 5-6 per cent of Indian IT companies' revenues. Top companies like TCS and Infosys have recently acquired work from Canadian government departments and organisations

IT companies shrug off transport strike in Bengaluru with work from home

An estimated nine lakh private commercial vehicles, including auto-rickshaws, corporate vehicles, airport taxis, maxi cabs, and buses, stayed off the roads on Monday

Top-deck Indian IT companies need to rightsize bench size: Experts

To address this challenge, IT services companies can prioritise rightsizing their bench strength

IT security incident to impact some of its businesses' revenues: Sun Pharma

Drug major Sun Pharma has said the IT security incident that happened earlier this month will impact revenues of some of its businesses. As part of the containment measures, the company proactively isolated its network and initiated the recovery process. "As a result of these measures, the company's business operations have been impacted. Consequently, revenues are expected to be reduced in some of our businesses," Sun Pharma said in a regulatory filing late in the night on March 26. The company also said it would incur expenses in connection with the incident and the remediation. Currently, the company is unable to determine other potential adverse impacts of the incident, including but not limited to additional information security incidents, increased costs to maintain insurance coverage, the diversion of management and employee time or the possibility of litigation, it added. Sun Pharma had reported the incident on March 2. The company said it promptly took steps to contain a

TCS on the verge of closing deals worth $1 billion with Marks & Spencer

In addition to this, TCS is also working towards renewing their existing five-year engagement with the UK-headquartered company

How is Germany trying to ease immigration process for Indian techies?

Among other things, Germany may also soon allow employers to hire foreigners for short periods regardless of the special qualification requirements

Cautious outlook

Activity in IT sector is expected to slow

New IT regime can adversely impact taxpayers' savings: RSS affiliate SJM

RSS affiliate Swadeshi Jagran Manch (SJM) impressed upon the Centre to tweak the tax regime to promote saving by the middle class