Page 6 - It Industry

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

Indian ITeS Industry and GenAI Conundrum as adoption remains under 40%

According to the latest BCG report 'The GenAI Adoption Conundrum', over 80 per cent of developers acknowledge its advantages, citing increased productivity and efficiency

GenAI making IT biz model outdated, says HCLTech CEO C Vijayakumar

IT major will hire more people at the entry level but need specialised skillsets

IT sector may see cautious salary hikes amid economic headwinds: Experts

Salary increments in India's USD 250 billion IT services sector are projected to be moderate in fiscal year 2025, as companies navigate a complex landscape of global economic uncertainties, evolving skill demands, and the increasing adoption of artificial intelligence (AI), according to experts. Industry experts predict an average wage increase of 4-8.5 per cent, a notable step down from previous years, signalling a shift towards more pragmatic compensation strategies. "The outlook for salary hikes this year is quite cautious," noted Krishna Vij, VP, TeamLease Digital. "Industry players are looking at increments in the 4 per cent to 8.5 per cent range, which is lower than what we've seen in previous years. This slowdown is largely due to global economic challenges, reduced discretionary spending, and shifting business priorities." Companies are being more conservative with their salary budgets, and many have even pushed their appraisal cycles beyond the usual April-June period, she

IT firm Capgemini expects flat growth in 2025 as demand remains weak

Growth in Capgemini's main markets, North America and France-which accounted for nearly half of the company's revenue in 2024-fell by 1.6 per cent and 5.8 per cent, respectively