Page 5 - It Sector

Cognizant to invest ₹1,500 cr in Andhra, pledges to create 8,000 jobs

Andhra Pradesh Information Technology Minister Nara Lokesh on Wednesday said that IT major Cognizant will set up a major campus here with an over Rs 1,500 crore investment, creating 8,000 jobs in three phases on a 22-acre site at Kapuluppada IT Hills. Lokesh said the government approved the project to position Andhra Pradesh as a global technology hub and promote digital skilling in tier-2 cities. "We welcome Cognizant to Vizag. This investment will accelerate regional growth and future-ready workforce development," said Lokesh in a release. Cognizant's presence is expected to boost the regional digital economy, enhance tech skills, and benefit from Andhra Pradesh's infrastructure, business-friendly policies, and IT and Information Technology Enabled Services (ITES) sectors support, said the minister. Cognizant will begin operations by early 2026 from a temporary facility for 800 staff until Phase-I of the permanent campus is ready by early 2029, said the release. "We are proud t

New talent war: How AI is pushing the boundaries in the IT sector

The requirements for AI professionals have evolved beyond technical skills, with employers also looking for professionals with the ability to work across sectors and identify commercial opportunities

12-hour work shift in IT? Karnataka govt faces backlash over proposal

Employee unions have strongly opposed the extension of hours to 12 from 10, meanwhile, the internet has been flooded with memes on Narayan Murthy

India's IT/ITes sector flexi workforce to reach 900K by 2030: Careernet

With India's IT and ITeS sector embracing flexible staffing as a core workforce strategy, a report on Wednesday revealed that the gig economy, which is growing at 15 per cent annually, will touch 9 lakh professionals by 2030. Currently, India's IT/ITeS sector employs 3,90,000 flexi workforce, accounting for around 7 per cent of the total 5.8 million professionals in the sector, talent solutions provider Careernet said in a report - "The Rise of Flexi Staffing: Outlook for India's IT/ITeS Talent Landscape". The report projected this number to more than double to 9,00,000 by 2030, growing at a 15 per cent Compound Annual Growth Rate (CAGR). The Careernet's 'Rise of Flexi Staffing: Outlook for India's IT/ITeS Talent Landscape' report is based on real-time hiring data, market research, and industry trends. "With India being a global offshoring hub, demand for flexi workers is expected to rise in the IT/ITeS sector. India's IT/ITeS flexi staffing segment is undergoing a structural ...

GenAI disrupts software ADM market, 10-15% of IT services revenue at risk

While revenue growth from AI is still marginal, the larger question is how the industry can reinvent itself when one of its largest revenue pools becomes less labour-intensive

AI-ML hiring grows 25% in May, IT sector records 5% decline: Report

While hiring in the Artificial Intelligence and Machine Learning (AI/ML) sector posted 25 per cent year-on-year growth in May 2025, the broader Information Technology sector saw a decline in job opportunities. According to the Naukri JobSpeak May 2025 report, overall hiring in the IT sector fell by 5 per cent compared to the corresponding period in the previous year. "In an otherwise stable job market, what stood out in May was the continued momentum in AI/ML hiring across metros alongside steady demand for senior professionals, a trend that's held firm over the past year," Naukri Chief Business Officer Pawan Goyal said. In May 2025, while overall hiring remained stable, industries like real estate (5 per cent growth) and insurance (6 per cent growth) emerged as relatively bright spots, according to the report. Hiring in Retails, Telecom/ISP, and Banking, Finance & Broking declined 8-9 per cent. However, unicorns in Banking and Financial Services ramped up hiring by 29 per ...

Bengaluru tech workforce crosses 1 mn, ranks among top 12 global hubs: CBRE

Bengaluru is among the top 12 global technology hubs with a tech workforce in the IT city crossing the 1 million mark, according to CBRE. Real estate consultant CBRE has released a report, 'Global Tech Talent Guidebook 2025', which highlights global tech talent dynamics across 115 markets. The report evaluates these markets based on the availability, quality, and cost of tech talent and classifies them into three categories: Powerhouse (12 markets with large, deep, and highly competitive talent pools), Established (63 mature markets with consistent talent pipelines), and Emerging (40 growth-focused markets with improving capabilities). CBRE noted that the report identifies "Bengaluru as among the top 12 global tech powerhouses." Beijing, Boston, London, New York Metro, Paris, San Francisco Bay Area, Seattle, Shanghai, Singapore, Tokyo and Toronto are the other tech powerhouses. "Bengaluru is the largest tech talent market in the Asia-Pacific region, along with Beijing and Shanghai

Wipro warns tariff hikes, immigration curbs, trade war may hit growth

Wipro said it derives over 62 per cent of its revenue from US clients and around 27 per cent from Europe

Evolve or perish: Agentic AI set to disrupt software testing roles

The Indian IT sector currently has over 375,000 active professionals in testing and QA/QC functions across experience levels, according to data sourced from specialist staffing firm Xpheno

Infosys trims variable bonus payment to 65%, cites business condition

Most IT services companies expect near-flat growth in FY due to macroeconomic uncertainty

As AI waits in the wings, IT sector must prepare for changing labour needs

There are important implications for the sector in India. As this newspaper has reported, the effects of AI are being felt in the information technology (IT) business

Vendor consolidation to drive our growth this year: LTIMindtree

Customers are looking at tightening their spending and saving the last dollar rather than spending more on new age technologies

Mphasis Q4 results: Net profit rises 13.6% to ₹446.5 cr on BFSI-led growth

IT company Mphasis on Friday said its net profit grew by 13.6 per cent to Rs 446.5 crore in January-March quarter of FY25, driven by higher margins and increased revenue from the BFSI segment. The company had reported a net profit of Rs 393.21 crore in the same period a year ago, Mphasis said in a regulatory filing. "We are pleased with a quarter of broad-based performance, reporting the highest quarter-on-quarter (QoQ) growth in 12 quarters, highest TCV (total contract value) wins in 7 quarters, highest ever quarterly and full year EPS, and 86 per cent YoY growth in pipeline. In this uncertain macro environment, our focus is on continued investments in growth, keeping tech and AI at the core, and leveraging solutions to transform and modernize our client's technology and operations stack," Nitin Rakesh, Chief Executive Officer and Managing Director, Mphasis, said in a statement. The consolidated revenue from operations of Mphasis grew by 8.7 per cent to Rs 3,710 crore during the ..

TCS sees sharp decline in share of Tata group's market capitalisation

TCS is expected to account for around 55 per cent of the combined net profit of 23 listed companies in FY25 down from its all-time high contribution of 106 per cent in FY20 and 64 per cent on FY23

IT companies' slice of Nifty 50 pie shrinks sharply to 17-year low

Sector's weighting in index has slipped to 10.2% from peak of 17.7%

Infosys Q4 net profit drops 12% to ₹7,033 crore; revenue rises 7.9%

Infosys reports 12% fall in Q4 net profit to ₹7,033 crore; announces ₹22 dividend and highlights AI, cloud, and automation focus for FY26

Reaching $50 bn revenue goal by 2030 still a possibility: TCS CEO & MD

We also secured large deals - not necessarily AI deals, but deals powered by AI, says TCS CEO

Warning lights flash for ER&D companies as auto sector runs low on fuel

ER&D downshifts on weak Q4, gloomy 2025; more downgrades loom

US tariffs: Manufacturing, retail growth for IT companies may take a hit

Could lead to slower decision making, less discretionary spending on new-age technology

Pyramid or diamond? Indian IT companies brace for structural change

Traditionally, IT services firms followed a pyramid structure, with a broad base of fresh graduates supporting scalability and a large bench strength ready for deployment