Page 10 - Nasscom

Budget sets tone for making India a global hub in tech innovation: Nasscom

IT industry body Nasscom on Tuesday said the Union Budget 2022 sets the tone for India's 'techade' and establishing the country as a global hub in terms of technology innovation. The IT body said while there were certain areas that were left unaddressed like enabling clarifications to allow units in SEZs flexibility to adopt hybrid work model and taxing employees only when they sell the shares, overall this is a healthy budget with a focus towards the future. "Strengthening the collective vision for an inclusive Digital Bharat, the Union Budget 2022 sets the tone for India's techade. The government's sharp focus on technology-enabled development and aligned investments in key sectors like healthcare, fintech, education, infrastructure, R&D, start-ups, agriculture and manufacturing is a testament to India's technology prowess and the capabilities of the Indian technology industry to provide a fillip to sectors across," Nasscom said in a statement. It added that the budget ...

Assets under management for ESG funds up 2.5 times in FY21: Nasscom

Assets under management for environmental, social and governance (ESG) funds increased 2.5 times to $650 million in India in financial year 2021, a top official of IT industry body Nasscom said

Start-ups continue to witness a rapid growth trajectory, shows data

NASSCOM, in collaboration with Zinnov, on Friday released its annual start-up study, titled "Indian Tech Start-up Ecosystem: Year of The Titans"

Over 2,250 startups added in 2021, raised $24.1 bn: Nasscom-Zinnov report

More than 2,250 startups were added in the year 2021, over 600 more than what was added in the previous year, a report by Nasscom and Zinnov said on Friday. The study titled 'Indian Tech Start-up Ecosystem: Year of The Titans' said with rising investor confidence, startups leveraging deep-tech, and tapping unexplored talent pool, the Indian tech startup base continues to witness steady growth. As per the report, startups raised USD 24.1 billion in 2021, a two-fold increase over pre-COVID levels. In comparison to 2020, there was a 3X increase in number of high-value deals (deals more than USD 100 million), demonstrating investor confidence with a pool of active angel investors of more than 2,400 and a readiness to take significant risks, it said. While the US remains the leading source of foreign direct investment in startups, worldwide involvement is also growing. About 50 per cent of the deals had at least one India-domiciled investor, it added. The report said the startup ecosys

Indian cybersecurity industry hits $9.8 bn in revenue: Nasscom

The Indian cybersecurity industry is also expanding its global footprint, with a presence in the US, Canada, the UK, France, Australia, Singapore, and the UAE

Big push for data centres in India as states evolve dedicated policies

India, which aims to become the 'global data centre' hub, needs to ramp up its DC footprint as data consumption has spiked due to Covid-19 and the mandate to adhere to localisation rules

Nasscom makes recommendations to RBI on Card-on-File tokenisation

BIN ranges are required to identify if EMI is supported by a card network or not. BIN ranges also help in identifying routing of a transaction.

Strong Indian tech startup ecosystem, ripe for scale-ups: Nasscom report

Analysis of about 100 shortlisted "scale-up" stories in startups indicate a story of growth and focus over the past decade

Hybrid to be new norm for return to work, finds Nasscom-Indeed study

The hybrid work model is the preferred choice of over 70 per cent of organisations according to the study

India now an artificial intelligence innovation hub, reveals a study

India was ranked eighth in the top 10 countries by AI patent families on a global level, an impressive accomplishment considering it had no AI-related patent filing prior to 2002

Nasscom hails GST Council's clarification on 'intermediary services'

Nasscom on Saturday said the GST Council's clarification on scope of intermediary services will ensure that BPM exports/R&D exports and IT services-related exports are no longer denied the export status by the enforcement authorities. On Friday, GST Council's recommendations included issuance of certain circulars to remove ambiguity and legal disputes on various issues. This included clarification on scope of "intermediary services" and clarification relating to interpretation of the term "merely establishment of distinct person" with reference to a section of the IGST Act 2017 for export of services. "Nasscom welcomes the decision of the GST Council to issue a circular to clarify the scope of intermediary services. We expect this to lay at rest a long pending issue for the BPM industry and ensure that BPM exports/R&D exports and IT services related exports will no longer be denied the export status by the enforcement authorities," Nasscom said in a statement. Nasscom also ...

NFRA to hold talks with Corp Affairs Ministry about raising no. of members

Seeks to increase strength from 12 to 15-18 in order to build its regulatory capacity

VPN is needed to keep business going, banning could hurt industry: experts

Their take: VPNs are used to keep business networks secure; Legal safeguards to catch criminals and miscreants already exist

Industry body Nasscom seeks govt help for super innovation units

Of the 500-600 companies present in the Indian ER&D space, 45-50% are engineering service providers, and 55-60% are MNCs and global contact centres

New rules on drones to usher opportunities, spur innovation: Nasscom

The new rules for operating drones in the country will usher in new growth opportunities and enable startups and SMEs to create innovative use cases and applications in various sectors, Nasscom said.

Demand for cloud techies to touch 2 mn by 2025: Nasscom-TCS-Accenture study

Study says as of FY21, India ranked third with 608,000 cloud professionals across all verticals, including technology

E-commerce market's revenue at $56.6 bn in FY21: Choubey citing Nasscom

India's e-commerce market continues to grow at 5 per cent year-on-year, with an estimated revenue of $56.6 billion in the financial year 2020-21, despite the Covid-19 pandemic, according Nasscom

Nasscom makes suggestions on proposed amendments to e-commerce rules

According to the draft, the rules will be applicable to "all goods and services bought or sold over digital or electronic network including digital products"

IBM and Nasscom train about 5,000 students, make them employment ready

IBM and Nasscom Foundation worked with 23 colleges across various states to teach certify students with emerging technology courses; over 2,000 students get jobs

Global capability centres bet big on Indian talent to drive operations

The GCC sector comprises over 1,300 global organisations, which employ more than 1.3 million people