It-ites Sector

Uttar Pradesh govt plans Rs 33.5K crore boost to IT and ITeS hubs

A senior UP government official said the state has identified five cities viz. Noida, Lucknow, Kanpur, Varanasi, and Prayagraj (Allahabad) to develop such hubs

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Indian PC mkt dips 11.7% in Q3CY22; demand to be slow for next 2 qtrs: IDC

All segments declined except the government, which grew by 91.5 per cent YoY on the back of government orders, leading to strong growth in the third consecutive quarter

ITeS sector's growth prospects in FY23 augur well for SMEs: CRISIL

In FY22 the ITeS sector's revenue logged 13-15% growth to about Rs 3.1 tn, riding on volume recovery across the three key segments - customer relationship management (CRM), knowledge, and transactions

An IT, ITeS labour conundrum

The top 10 companies account for about 91 per cent of all employment among listed IT and/or ITeS firms and they make 92.4 per cent of all wage payments to them

Home sales more than double in Q3CY21 on robust hiring, pay hike in IT/ITES

Mumbai Metropolitan Region or MMR accounted for 33 per cent of the total sales, followed by NCR with a 16 per cent share, Anarock said

IT-BPM industry welcomes GST clarification on intermediaries

This is a long-standing issue between the IT-BPM industry and the government

Supplies to IT/ITeS parent firms eligible for refunds, clarifies CBIC

The move comes as a major relief to several entities that were denied refunds when they were exporting services to their parent or subsidiary companies abroad

Cognizant reports good numbers in Mar quarter, revises revenue guidance

Net income for the first quarter of CY21 was $505 million, up 37%

Haryana IT firms fear state's local hire law, predict severe impact: Study

80 per cent companies said that the law will hurt their business and investments plans, according to Nasscom survey

Nearly 50% employers hired only virtually in 2020, finds Indeed survey

Nearly one in five employers also said that virtual hiring reduced bias in the recruitment process

Easier OSP rules, WFH norms to create more job prospects in small towns

Experts say the move will also encourage companies to focus on innovative products and solutions and improve BPM delivery efficiencies

Govt eases norms for ITES sector, new norms to facilitate 'work from home'

The new rules are aimed at providing a strong impetus to the industry and positioning India as one of the most competitive IT jurisdictions in the world

Shadow of ITeS contraction over small, medium units: CRISIL SME Tracker

Exports constitute more than 85 per cent of the industry's revenue, and due to Covid-19 induced slowdown around the world, they are at risk

Europe to lead recovery for Indian IT firms in September quarter: Analysts

$825 bn stimulus package announced by the European Commission to help banking, financial services insurance sector.

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.

IT firms to face heat as global enterprises put digital projects on hold

Digital initiatives of several global enterprises have been cancelled or postponed in the last couple of months as the Covid-19 crisis has prompted firms to halt non-revenue generating ventures

Covid-19 package: MSME definition changed, loans worth Rs 3-trn announced

Govt announces 10,000 crore fund of funds for MSMEs to grow, cancels global tenders below Rs 200 crore

Covid-19 crisis: UP readies for post-lockdown industrial sector reboot

Adityanath government institutes exclusive cells to help industries

IT firms unlikely to resume operations instantly, to see staggered opening

Most companies are going to continue to let employees work from home