Page 5 - It Industry

BSA CEO Espinel seeks rationalisation of software localisation norms

To bid for government projects in India, the government mandates that a certain percentage of the product, including software solutions, be made domestically

Zoho's Sridhar Vembu warns of fundamental reckoning in India's IT industry

Zoho's Sridhar Vembu has sounded an alarm about the future of India's software and IT services sector, arguing that the industry is facing a fundamental reckoningnot just a cyclical downturn or a challenge from artificial intelligence, but a structural shift that will reshape the next several decades. In a post on X, Vembu contended that inefficiencies in products and services have long plagued the global software industry. "My operating thesis: what we are seeing is not just a cyclical downturn and it is not just AI related. Even without the uncertainty induced by tariffs, there was trouble ahead. "The broader software industry has been quite inefficient, both in products and services. These inefficiencies have accumulated over decades of a prolonged asset bubble," Vembu, who stepped down as CEO in the IT firm in January to focus on R&D, wrote. He noted that India, as a major exporter of software and IT services, has adapted to and even relied on these inefficiencies, with ...

PLI for mobiles must extend beyond FY26: Bhagwati Products cofounder

Bhagwati Products targets ₹12,000 cr revenue in FY26

Govt working on 25 chipsets with Indian IPR to fight cyberattacks: Vaishnaw

Vaishnaw unravels the action on the ground and the move towards localisation

Next wave of innovation in India needs to be deep tech led: Chandrasekhar

Chandrasekhar said that the new tech startups will need a different talent set from what the country generated earlier. Science and research are going to be "bedrock" of the innovation wave, he said

Trump tariff shadow looms over FY26 growth outlook of IT cos, say experts

Rising global uncertainty and fear of slowdown in its biggest market, the US, is seen taking a toll on the Indian IT industry's showing, with several analysts now warning that a possibly weak exit for the just-ended FY25 may be followed by an "unexciting guidance" or outlook pullbacks for FY26 as well as pain up ahead in verticals such as retail and manufacturing. Discretionary spends, they say, would most likely come under cloud, again, dashing any hopes of its near-term recovery. Market watchers further warn that the next 3-6 months could see a build up of negative news -- including earnings cuts and potential pullbacks in FY26 guidance. Retail and manufacturing verticals are being called out by industry pundits as particularly vulnerable, amid global aftershocks, and market carnage. That said, some believe that "survival spend" may come into focus, as also GenAI. While near-term prospects remain muted, outlook could turn favourable in the second half of FY26, driven by macro ...

$20 bn IT contracts up for renewal amid GenAI wave, global uncertainties

These renewals are particularly significant as they come at a time when US-imposed tariffs and global macroeconomic uncertainties have created a cloud of uncertainties.

Indian IT companies brace for impact as tariffs fan US recession fears

The tariffs come at a time the sector was counting on Trump to revive client confidence and discretionary spending after years of weak revenue growth

AI threatens to upend India's ITeS industry's human capital requirements

It is vital now for India's ITeS behemoths to inform what this transformation implies for their future business models, their earning plans, and their hiring decisions

With eye on transformation, industry bets on 10-30% higher AI budget

Industry experts pointed out that there is a rising demand for professionals skilled in data science, machine learning, and AI systems development

Cognizant looks to break into top four IT services companies by 2027

Company focusing on AI and training employees to regain leadership position, says annual report

IT major Wipro bags £500 million, 10-year deal with UK's Phoenix Group

As part of this transformational initiative, a number of Phoenix employees will transition to Wipro. The exact number of employees being transferred to Wipro was not disclosed

Women placement increased 6% point to 32% in last six years: Report

One in three candidates placed by Careernet is a woman, marking the highest representation in six years and a consistent trend over the last two years

Data streaming platform Confluent to increase India headcount by 20%

The company had 400 employees in India around this time last year and said it would ramp up its employee base by 25 per cent

IT firm Happiest Minds Technologies announces top leadership changes

The company said that Joseph Anantharaju, who was the executive vice-chairman, president and chief executive officer of the PDES division

TCS appoints insider Sudeep Kunnumal as CHRO, effective March 14

Kunnumal replaces Milind Lakkad, who is stepping down upon his superannuation

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

A new paradigm: IT companies will need to adjust business models

While the Indian IT industry says AI will create more jobs than it extinguishes, there could be short-term pain and entirely new business models will be required in the long term

Indian IT sector may see low single-digit growth in FY25: Nasscom

Revenue likely to cross $300 bn in FY26, says Nasscom; 126,000 jobs added in FY25

Infosys delays trainee assessment amid fresher layoffs at Mysuru campus

India's second-largest IT services company had onboarded about 1,000 engineering graduates in October. Trainees get three attempts to clear the assessment, failing which they are asked to leave