Page 5 - Indian It Industry

Data & AI have potential to add $500 billion to economy by 2025: Nasscom

This segment could account for 10 per cent of the country's GDP by 2025, according to the industry body

Nasscom welcomes H1B, L1 visa relaxations; remains 'cautiously optimistic'

"We believe this is a step in the right direction and encourages the implementing agencies to ensure that US businesses' access to critical talent is not hampered," Nasscom said

Mid-sized IT services companies get Cloud, cost-efficiency boost

In the quarter ended June, these companies have outperformed top-5 IT services players in the country on revenue and profit metrics

Trump signs new order on H1B visa hiring: Only be used to create US jobs

Trump said, H-1B should be used for top highly paid talent to create American jobs, not as inexpensive labour programmes and destroy American job

Bulk of 5G-centric spends to be pushed: TechM's CP Gurnani, Manoj Bhat

"Huawei continues to remain our customer. But they are going through their own cycle, in terms of the US (sanctions) and Covid-19 impact," said TechM's CFO Manoj Bhat

Job seekers confident about career progression as economy reboots: Survey

The LinkedIn Workforce Confidence Index showed a modest increase in India's overall workforce confidence, with a composite score of (+) 50, up from (+) 48 in June 1-14.

Cash-rich Indian IT services companies go aggressive in M&A space

As capital allocation is altered, dividend payout to dip in the ongoing financial year

Covid-19 impact: Govt extends WFH norms for IT, ITeS firms till year end

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

Tata Consultancy Services lifts curb on lateral hiring amid Covid-19 crisis

The Mumbai-headquartered company, however, said it would selectively hire experienced employees from outside.

Unsure of hiring fresh graduates, IT companies venture off campus

The technology industry is one of the largest recruiters for fresh graduates in the country.

Capgemini bucks trend, rolls out wage hikes, promotions amid Covid crisis

Performance review likely to see some retrenchments

Indian IT firms may report 5-9% contraction in revenues for June quarter

Hospitality and travel, as well as manufacturing and retail, are the segments likely to see maximum hit

IT companies jittery over Donald Trump's plan to suspend H-1B visa

The Indian information technology industry, which has long been a beneficiary of the H-1B visa regime, is likely to be directly impacted if such a suspension is announced for a longer term.

Wipro's outgoing CEO Abidali Neemuchwala sees 12% rise in pay package

In comparison, Infosys' CEO Salil Parekh drew a pay package of $6.15 million (around Rs 40 crore) in the last financial year, a rise of 27 per cent over the previous fiscal.

Nasscom for policy tweak to enable longer work-from-home scenario

Nasscom has asked for the abolition of OSPs (other service providers) under the Department of Telecom, under which certain kinds of work (such as voice calls) cannot be shifted to employees' homes.

Covid-19 may slow India IT and business service growth to 6.5% in 2020: IDC

The IT and business services market grew by 8 per cent annually in the second half of 2019

TCS snatches most-profitable tag from Reliance Industries after 6 years

The Mukesh Ambani-controlled conglomerate, however, remains miles ahead of TCS in other financial parameters such as total revenue, operating profit, net worth, assets, and m-cap.

Mindtree Q4 net profit up 4% to Rs 206 crore, flags coronavirus concerns

For Q4FY20, Mindtree posted a net profit of Rs 206.2 crore, a rise of 3.9 per cent year-on-year basis and 4.7 per cent sequentially.

TCS net profit flat at Rs 8,049 crore in Q4; freezes salary hike

The numbers are largely in line with street expectations. Brokerages (on an average basis) expected net profit or profit after tax (PAT) for the quarter to fall 0.3 per cent QoQ to Rs 8,095.4 crore.

Wipro suspends Q1FY21 revenue guidance as coronavirus crisis hits business

The company joined some of its peers to flag the uncertainty arising out of the pandemic and refrained from giving any revenue guidance for the first quarter of FY21