Page 7 - It 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

GCCs in India offer 12-20% higher tech salaries than IT services firms

Another 800 GCCs are expected in the next 5-6 years, boosting India's role as a global tech hub, with many in Tier-II cities like Kolkata, Ahmedabad, and Vadodara, promoting local employment

Cognizant clarifies fresher salary issue, says 'grossly misrepresented'

The IT firm faced significant online backlash over the internet for its low fresher salary offering, with many comparing it to 2002 levels

IT company TCS eyes 'Prime' campus talents with Rs 9-11 L offers

The need to secure such top talent is also driven by the fast-paced technological changes shaping the sector

Govt likely to extend import regime for laptops, IT hardware products

The system kicked in on November 1 to promote domestic manufacturing of these goods and reduce dependence, especially on China

Top-level exits continue in Wipro as CTO Subha Tatavarti steps down

In another high-level exit at IT major Wipro, its Chief Technology Officer Subha Tatavarti has resigned to pursue opportunities outside the company. Tatavarti joined Wipro in April 2021 as the technology head under the then-CEO and MD Thierry Delaporte. During her three-year stint, she led Wipro's GenAI initiatives and introduced Wipro ai360. "Subha Tatavarti, Chief Technology Officer, resigned from the services of the Company to pursue opportunities outside Wipro," a regulatory filing said on Monday. Before joining Wipro, she led different roles at Walmart and PayPal, among others. She was recognised in "Top 100 Executive Women in Tech to Watch" earlier this year by the WomenTech Network. "I am resigning from the post of CTO, Wipro, effective August 16th. Good luck with your journey," Tatavarti wrote in her resignation letter to Wipro CEO Srini Pallia. This is the fourth top-level exit in the last 4 months after Pallia joined the Bengaluru-based firm in April, following Delaporte

FPI buying in Indian IT rises to highest since 2022 in July, shows data

Prior to this, the IT sector was divided into software, services and hardware technology

Mistaken notice

Giant tax demands should not be rushed

US jobs data fallout: Recession fears add to IT services sector concerns

Market sources and media reports concur that today's global sell-off may trigger an early rate cut by the US Federal Reserve

CtrlS Datacenters to invest Rs 400 crore in Patna's upcoming datacentre

Data centre operator CtrlS Datacenters on Monday said it will invest about Rs 400 crore in the greenfield datacentre in Patna and has acquired land for the new facility. The site, situated 300 meters from the company's existing Patna DC1 facility, is located in the Pataliputra Industrial Area and has been acquired through the Bihar Industrial Area Development Authority (BIADA). The datacentre is expected to be operational by the second-half of FY 25-26. "CtrlS Datacenters plans to invest approximately Rs 400 crore in this new datacentre, which will boast a 10MW IT load capacity and house approximately 1,000 racks. This land acquisition reaffirms CtrlS Datacenters' commitment to strengthening its presence in Patna," a company statement said. Hyderabad-based CtrlS Datacenters operates 15 datacentres across Mumbai, Noida, Hyderabad, Chennai, Bengaluru, Kolkata, Lucknow, and Patna.

87% cases filed with grievance committees under IT Rules resolved: MoS

The final decision of the GAC is binding on platforms and refusing to comply with the GAC can cost a platform its safe harbour protections

Govt notifies governing council to set up framework for Data Innovation Lab

The council will also have representation from NITI Aayog, the Indian Statistical Institute, and the Department of Science & Technology (DST)

14-hour work day in IT sector: Union slams Karnataka govt's plans

Karnataka State IT/ITeS Employees' Union (KITU) has urged the Siddaramaiah-led government to reconsider its reported plans to extend the working hours of the IT/ITeS/BPO sector. According to the union, the government plans to increase the working hours to 14 hours a day. The proposal to amend the Karnataka Shops and Commercial Establishment Act in this regard, was presented in a recent meeting called by the labour department with various stakeholders in the industry, it said in a release. Labour Minister Santosh Lad, officials from the Department of Labour and IT-BT Ministry attended the meeting, in which the representatives of the union took part. The union strongly opposed the proposed amendment which, it said, poses an "attack on the basic right of any worker to have a personal life." The labour minister agreed to have one more round of discussion before taking any decision, it added. Noting that the proposed new bill 'Karnataka Shops and Commercial Establishments (Amendment)

Production, despatch ops briefly halted due to global IT outage: Maruti

Auto major Maruti Suzuki India on Friday said it was partly affected by the global outage of Microsoft systems and production and despatch operations halted briefly. The company, however, said it has been able to resume operations. "A global IT issue affected several companies across several countries today. This problem was encountered in our company also," Maruti Suzuki India said in a regulatory filing. The car market leader further said it immediately initiated precautionary and remedial measures "and production/despatch operations were briefly halted". "The company has been able to resume its operations now," Maruti Suzuki said, adding, it does not anticipate any material impact of this incident on its performance. Microsoft users globally, including several in India, have reported massive outages in services, with outage tracking website Downdetector showing users flagging disruptions across various services. There have been reports of disruptions in functioning of several

Q1 results: Infosys tops profit estimates, lifts FY25 revenue forecast

Sees 7.1% rise in Q1 earnings, 100 bps improvement in margin to 21.1%

Stocks to watch, July 18: Infosys, RIL, Vi, LTIM, Asian Paints, Paytm

Domestically, foreign institutional investors were net buyers on July 16, acquiring shares worth Rs 1,271.45 crore, whereas domestic institutional investors sold shares worth Rs 529.48 crore.

Work from office near pre-pandemic levels, will stop tracking soon: TCS

The country's largest IT services exporter TCS has reached pre-pandemic levels on the percentage of employees working from offices, a top official has said. Admitting that it took longer than expected, the Tata group company's chief of human resources Milind Lakkad said the levels have been achieved after 18 months of "hard" efforts. "We actually have come to the point where we believe we are coming back to almost the same levels as we were pre-pandemic times," Lakkad told PTI. Stating that "it is kind of a business as usual" for the company employing over 6 lakh people, Lakkad said TCS will not track this metric as much in the next couple of quarters. The number of employees working from offices for five days a week is higher than the 70 per cent it had previously announced, he said, without giving a figure. It can be noted that the pandemic-induced lockdowns resulted in the entire IT industry's staff delivering work from their homes, but companies, who look at working from offic

India to become global player in semiconductor industry: IT secretary

India has the talent and deep expertise to become a global player in the semiconductor industry which is a vital sector for the country, Ministry of Electronics and Information Technology, Secretary, S Krishnan said. The government was helping industries to create the ecosystem to build the semiconductors, he said. Krishnan made those comments at a conference organised by fabless semiconductor firm iVP Semiconductor Pvt Ltd here on Saturday. Global management consulting firm McKinsey has predicted that the semiconductor industry is expected to become a trillion dollar industry worldwide, while India Electronics and Semiconductor Association (IESA) estimates the sector to touch USD 100 billion by 2030. India is rapidly becoming one of the biggest markets for electronics, automotive, Electric Vehicles and a significant hub for technical expertise. "The semiconductor industry is vital for the country and India has the talent, deep expertise and scalability to be a global player. The

Results preview: IT companies may see green shoots in June quarter

But, Q1FY25 could rank among the weakest in the past decade

AI to usher in era of technological prowess: Tech Mahindra Chairman

IT firm to follow 'three-pronged' strategy for revenue and profitability predictability, says Mohit Joshi