Page 5 - Indian It Sector

White collar jobs dip 16% in Dec amid cautious hiring in IT, other sectors

White collar hiring in India witnessed a 16 per cent decline in December compared to the year-ago period due to cautious hiring sentiments in IT, BPO, education, retail and healthcare sectors, a report said on Tuesday. "We observed marginal sequential growth of 2 per cent in December hiring activity compared to November, driven by non-IT sectors. However, the IT sector continued to be significantly impacted pulling the overall index down by 16 per cent against last year signalling a longer wait for a complete recovery in IT hiring," Naukri.com Chief Business Officer Pawan Goyal said analysing the Naukri JobSpeak Index. According to the Naukri JobSpeak Index, sectors like BPO, education, retail, and healthcare displayed cautious hiring sentiments, witnessing a year-on-year decline of 17 per cent, 11 per cent, 11 per cent and 10 per cent, respectively, in job offers in December. Hiring in the IT sector reflected the trend seen in the second half of 2023, the report noted. The sector

For salary hikes, IT firms now considering tenure along with performance

The IT majors are making changes in their pay increment structure to maintain margins at a time when the sector is going through a tough time globally

$245 bn IT sector sees tougher terms amid scramble for contracts: Report

The tougher contracts are likely to add pressure on an industry that is already struggling

Wipro inks three-year cloud migration deal with insurance company RSA

Wipro said it will help RSA build a "compliant, secure, and scalable IT infrastructure". The three-year engagement builds on Wipro and RSA's existing relationship, which began in 2016

India's IT spend to reach $124.6 billion in 2024, up 10.7%: Gartner

"Indian organisations are expected to invest in AI and automation during this time, as a strategic effort to improve operational efficiency and address the ongoing shortage of IT talent"

Australia's ASX signs deal with TCS to revamp clearing, settlement platform

Indian IT services firm will use flagship product to replace ASX's existing platform

Laptop, tablet imports surge 42% to $715 million amid licensing fears

The rise in such imports were led by the largest source China (33 per cent) and Singapore (188 per cent), according to data released by the commerce department

NITES files complaint against TCS over forced transfer of employees

The Nascent Information Technology Employees Senate (NITES) filed a complaint against Tata Consultancy Services over involuntary transfers of over 2,000 employees

Hiring in the Indian IT sector shrinks for the first time in 25 years

The workforce in the top 10 Indian IT companies fell to 2.06 million at the end of the July-September quarter, a fall of 51,744 people

IT stocks drag markets lower; Sensex ends 65 pts lower, Nifty falls 17 pts

Infosys, TCS, HCL Technologies and Tech Mahindra were the biggest drag on the market performance

HCLT, Infosys: Morgan Stanley ups target price of IT stocks by up to 29%

Among individual stocks, Morgan Stanley has maintained their overweight rating on HCLT, LTIMindtree and Infosys within the large-caps.

Infosys to begin fresh appraisal cycle; last year hikes still pending

Citing macroeconomic conditions, many IT companies have opted to hand out small increment or defer salary hikes this year

Black Box opens new centre of excellence in Bengaluru, to create 500 jobs

The new centre is also projected to increase the company's margin by around Rs 50 crore in the near term, according to Black Box

IT companies' forex revenue exceeds earnings of other manufacturers in FY23

According to data, the combined forex revenue of listed IT companies grew by 20.7 per cent to reach Rs 5.14 trillion in FY23

India witnesses decline in data science & analytics jobs in 2023: Report

Great Learning report reveals that the highest job opportunities are available for people with one to five years of experience compared to freshers and seasoned professionals

No slowdown in tech spend in domestic market: IBM India's Sandip Patel

Burton opined that if one compared the tech spend ratio to the gross domestic product of the company in the developing economy, it only points to increased spending

Industry likely to get six months to align with data protection rules

Chandrasekhar says rules for DPDP Act ready, consultations to begin after G20

IT sector companies defer hikes, lower increments amid slow growth

Wipro has postponed salary hikes, while Infosys and HCL opt not to implement raises

Employee costs to haunt Indian IT even as biz prospects improve: Analysts

Indian IT Services companies, Goldman Sachs said, have doubled their market share in the last 10 years to 6.2 per cent of the global IT spending in CY22

Indian IT to become more attractive after data law: Ashwini Vaishnaw

Union Minister Ashwini Vaishna in an interview with Business Standard said that DPDP bill will bring about behavioural changes in internal business processes in alignment with principles of privacy