Page 9 - Information Technology

Markets feel weight of TCS stake sale; Sensex YTD returns turn negative

The Sensex fell 736 points, or 1.01 per cent, to close at 72,012

India's compute infra less than 2% of global capacity: Nvidia Asia South MD

India's computing infrastructure is less than 2 per cent of global capacity which is a limiting factor in its contribution to research that remains in the range of 2 per cent, according to a senior official of GPU chip maker NVIDIA. While speaking at StartUp Mahakumbh, NVIDIA Asia South MD Vishal Dhupar on Monday said that the contribution of research from Indians abroad is around 12 per cent due to the availability of computing infrastructure. "India today is approximately sub-2 per cent as compared to US and China combined is closer to 58-59 per cent. If you go back and figure out why the research in India is as low as,what it is, we are talking about India's contribution, of 2 per cent. There is a direct correlation to that. Indians who basically contribute to the research bit are not based in India are contributing 12 pc because infrastructure is available there," Dhupar said. The demand for GPU-based servers or accelerated computing has increased as they can process data at a .

IT spending in India to grow at 9.9%, to cross $59 billion by 2027: IDC

The IT spending in India is likely to grow at a compound annual growth rate of 9.9 per cent over the coming years to cross the USD 59 billion mark by 2027, as the software market consistently showing double digit growth across the forecasted years, International Data Corporation (IDC) said on Thursday. The IT spending in India for 2024 is expected to grow by 11 per cent year-on-year to reach USD 44 billion in 2024, according to market research and analysis firm IDC. While speaking at India CIO Summit organised by IDC, the company's Head of WW Strategy and Senior Vice President & Regional Managing Director for EMEA Steven J Frantzen said Generative AI (GenAI) will continue to accelerate AI adoption in India, with more leading organisations exploring or investing in GenAI use cases. "Even with economic headwinds and uncertainty in 2024, we anticipate that global ICT spending will expand by more than 6 per cent (3x of projected GDP growth) as we enter a new era of accelerated digital

Recent strong rally leaves little room for IT firms to disappoint

The Nifty IT index has started to outperform the Nifty from around November 2023. It has delivered 26 per cent return in the last 12 months

Bombay HC refuses to grant interim stay on setting up fact-checking unit

The order was passed on a bunch of applications filed by standup comedian Kunal Kamra and others seeking a stay on the notification of the FCU

HCLTech ties up with ServiceNow for Gen-AI solutions to boost efficiency

IT firm HCLTech on Thursday said it has partnered with American software company ServiceNow to offer Gen-AI-led solutions for driving efficiency and cost-savings in businesses. HCLTech will offer consulting, design, implementation, and managed services through ServiceNow's entire suite of products, HCLtech said in a statement. It said the partnership will help enterprises realise cost-savings and enhance cross-department efficiency and productivity. "HCLTech offers a wealth of ServiceNow expertise to the world's leading businesses," said Bill McDermott, Chairman and CEO, ServiceNow. "It is an honour to extend our partnership to the co-creation of industry-specific GenAI (Generative Artificial Intelligence) solutions that will ignite our customers' growth engines with transformative experiences. HCLTech and ServiceNow will also launch a ServiceNow business unit and the 'Fluid NOW' centers of excellence in London, New York, and Noida for enterprises to explore the latest GenAI

Manish Prasad appointed president and MD for SAP Indian Subcontinent

Prasad succeeds Kulmeet Bawa, who takes on a global role for SAP

50% of companies review their BCDR strategy only once in 3 years: Report

Nearly 40 per cent of firms do not have any detailed BCDR strategy, according to the report

Rules apply to firms of all sizes: MoS IT on RBI move on Paytm PB

Says have received two proposals for semiconductor fab units, entailing $22 bn investment

Rs 25K cr semiconductor packaging plant in Assam soon: Rajeev Chandrasekhar

In December last year, Chief Minister of Assam Himanta Biswa Sarma had revealed Tata group's investment plans for a semiconductor facility in the state

Govt preparing electronics component linked incentive scheme: Meity Secy

The government is working on a new component-linked incentive scheme to encourage the production of electronics parts besides semiconductors, a top government official said on Tuesday. While speaking at the launch of made-in-India Milkyway tablets, Ministry of Electronics and IT Secretary S Krishnan said that the government has been talking to industry for design and make in India products and the other focus has been increasing local value addition. "The private sector is stepping up. We hope in Meity to have a component linked incentive scheme in the coming months which will assist this movement towards making India both a product nation and increasingly a nation that produces more components," Krishnan said. He along with Consumers Affairs Secretary Rohit Kumar Singh unveiled a 4G tablet developed by non-profit organisation EPIC Foundation. The tablet has been designed in India and will be produced locally by electronic manufacturing services company VVDN and JioPhone maker Unit

Two of every three CXOs say GenAI will have existential impact: EY

The study also says that GenAI can provide value-uplift for internal support functions of tech companies

India can punch above its weight in AI, says Microsoft Asia president

AHMED MAZHARI, president of Microsoft Asia, believes Indian information technology (IT) companies will lead global businesses in adopting AI

Services sector firms led India Inc's job creation in FY23, says study

The study by the state-run bank sums the number of employees of close to 3,000 companies in the corporate sector in the past five years

Rashi Peripherals raises Rs 150 cr pre-IPO from institutional investors

The round saw participation from institutional investors such as Volrado Venture Partners Fund and Madhuri Madhusudan Kela

First made-in-India chip to be out by December, says IT minister Vaishnaw

The first made-in-India chip will be out by December, Union Minister Ashwini Vaishnaw said here, crediting Prime Minister Narendra Modi for developing a very strong semiconductor industry in the country in a short span of time with focus on the entire ecosystem. Speaking to PTI at the World Economic Forum Annual Meeting 2024, the minister said PM Modi launched a semiconductor policy in January 2022, adding that when he met senior representatives of the industry here, the one thing they all were surprised about was how this much work could be done in such a short time. "They all appreciated the policy and the fact that PM Modi has always stressed on creating a comprehensive ecosystem because not many countries have this kind of policy and therefore they could not get such success," he said. The Minister for Communications as well as Electronics and Information Technology said the prime minister has always focussed on developing an ecosystem where there is a lot of focus on ...

L&T Technology retains full-year forecast after all units post Q3 growth

(Reuters) - Indian tech services provider L&T Technology Services retained its revenue growth forecast for the current financial year on Tuesday as all its five business verticals posted year-on-year growth for the third quarter.

Earnings-equity valuation gap of Indian IT companies widens, shows data

The combined net profit of TCS, Infosys, Wipro, and HCL Technologies was down 1.5 per cent year-on-year (Y-o-Y) in the December quarter

90% of Indian biz leaders planning to invest more in AI, Gen AI: Capgemini

Capgemini's survey included business leaders from 2,000 organisations in 15 countries across sectors such as automotive, consumer products, banking, capital markets, life sciences, etc

2024 to be year of technolgy absorption: Army Chief General Manoj Pande

General Manoj Pande, Chief of Army Staff on Monday extended his greetings on the occasion of 76th Army Day