Page 4 - Nasscom

Budget 2024: Nasscom seeks lighter taxation environment for tech industry

Industry association wants levels for safe harbour provisions raised to enable greater participation

Indian deeptech startups count surges in 2023, funding drops 77%: Nasscom

India saw a significant surge in deeptech startups in 2023 with 480 new ventures emerging, making it the third largest pool globally, a report said. However, the report by technology industry body nasscom and global consulting firm Zinnov highlighted the worrying trend of a funding winter, posing a major challenge for these startups. 'India's DeepTech Dawn: Forging Ahead' report also said funding for scaling, talent attraction and retention, and global expansion are the top 3 challenges faced by startups in deeptech innovation. "India currently has 3600+ deeptech startups, out of which 480 were established in 2023 itself, nearly 2X more than the number of deeptech startups established in 2022," the report said. But India's deeptech promise is stunted by a funding gap. "Compared to startups across some other leading deeptech ecosystems, Indian deeptech startups receive a fraction of the median investment at every stage. This lack of funding restricts the ability of some promising .

India ranks sixth globally in deeptech startup ecosystems: Nasscom

According to the report, in CY23, Indian deeptech startups witnessed a dip of 77 per cent in funding compared to last year and secured $850 million in investments

Indian GCCs turn digital twins of their HQs, lead in emerging tech like AI

For the US-based enterprise software company Planview, its India centre is not just a digital twin but a digital next generation

We missed Industrial Revolution

Is India headed there again?

GCCs in India becoming 'nerve centres' for global business success

A Nasscom-KPMG report launched on Thursday has identified four considerations for GCCs as they move up the value chain

India has fewer than 2,000 senior engineers for developing core AI products

This stands in stark contrast to the 650,000-700,000 individuals that the tech industry body Nasscom said have received training in AI within leading tech companies

Artificial intelligence framework on the anvil, brainstorming begins

Dedicated regulation expected after the Lok Sabha elections

Tech industry growth projected to halve to 3.8% in FY24 compared to FY23

Industry expected to generate additional $9.3 billion in revenue, spanning across IT services, business process management engineering services: Nasscom

Tapping into India's talent, global capability centres eye revenue goldmine

India is home to more than 1,580 GCCs, with a total market size of $46 billion

Nasscom inks pact with Australian Business NSW to accelerate market access

IT industry body Nasscom on Friday said it has signed an agreement with Australian industry body Business NSW to facilitate market access for technology companies in the two markets. Indian technology companies and firms in New South Wales will receive accelerated access to each other's markets as part of the new agreement that aims to synergise economic cooperation between India and Australia, Nasscom said.. An agreement between the Department of Enterprise, Investment, and Trade (DEIT), Indian industry body Nasscom, and Australian industry organisation Business NSW was signed in Sydney on Thursday, leveraging the Australia-India Economic Cooperation and Trade Agreement (ECTA) and positioning NSW at the centre of the burgeoning Australia-India technology corridor, Nasscom said in a statement. With a USD 254 billion tech industry as of FY2024, India is a global powerhouse, so we are looking forward to welcoming their startups and scaleups to Sydney through our International Landing

Nasscom to bring 15 top-tier tech startups delegation to UAE next week

India's National Association of Software and Service Companies (NASSCOM) will bring a delegation of 15 top-tier start-ups to participate in a Pitching and Networking Session for the Start-Ups in the UAE next week. The delegation would participate in the exclusive Pitching and Networking Session for the Start-Ups to be organised by the Consulate General of India in Dubai on March 11 and 12, officials said. The Start-Up delegation comprises sectors such as artificial intelligence, big data and analytics, electrochemistry, materials, and renewable energy, among others. NASSCOM is the apex body for the technology industry in India, an industry that has made a phenomenal contribution to India's GDP, exports, employment, infrastructure, and global visibility. The Elevate Pitching Series aims to provide a platform for Start-Ups to pitch their ideas to investors and business partners based in the Middle East and other countries, officials said.

Nasscom urges Karnataka govt to review the uniform taxi fare rules

Government of Karnataka, revised the fare structure applicable to taxis (both mobile application (app)-based and non-app-based city taxis)

BPO employees face maximum risk of getting replaced by AI: Nasscom chairman

Workers in the business process outsourcing (BPO) sector are at the maximum risk of getting impacted by the influx of generative artificial intelligence, IT industry body Nasscom's chairman Rajesh Nambiar has said. Nambiar, who is also the chairman and managing director of global technology major Cogniozant's India unit, said workers in the software services industry, the Indian tech industry's mainstay, do not have much to worry. "People who work on process related industry, which we traditionally used to call as BPO (business process outsourcing)... Some of that runs the risk of getting replaced with an AI engine pretty quickly," he said at a seminar organised in Pune over the weekend. He stressed that the USD 48.9 billion BPM (business process management) industry has evolved quite a bit from merely managing simple business processes. There are heightened concerns around the impact of AI on jobs, especially in the over USD 250 billion Indian tech sector which contributes ...

DPIs have potential to boost India's GDP growth 3x by 2030: Nasscom study

Digital Public Infrastructure (DPIs) is a set of common platforms or networks that is used to deliver citizen-centric services

Majority of Capgemini's 2 billion euros investment in AI coming to India

The other big focus of the investment for the firm is partnership and setting up CoEs. India has always been the centre point for the firm when it comes to CoEs. At present, the firm has over 100 CoEs

AI market in India to touch $17 billion by 2027: Nasscom-BCG report

India's AI market, growing at a compounded annual growth rate (CAGR) of 25-35 per cent is projected to reach USD 17-billion by 2027, according to a report. This growth is fueled by multiple factors including increasing enterprise tech spending, India's growing AI talent base and a significant increase in AI investments, the report titled "AI Powered Tech Services: A Roadmap for Future Ready Firms; AI & GenAI's Role in Turbocharging the Industry." The Nasscom report in partnership with BCG was released on Tuesday at the sidelines of the Nasscom Technology & Leadership Forum 2024 here. Globally, investments in AI have seen 24 per cent CAGR since 2019, with 2023 seeing close to USD 83-billion investment, it said. Majority of investments were made in data analytics, GenAI, and ML algos and platforms, as per the report. Notably, around 93 per cent of the investments made by Indian tech services and made-in-India product players focus on digital content, data analytics and supply ...

AI framework to be presented by July: MoS IT Rajeev Chandrasekhar

Chandrasekhar also added that there needs to be a more global consultative approach while coming out with regulations regarding AI

IT industry to grow 3.8% in FY24 to cross $250 billion, says Nasscom

FY24 growth coming at a slower pace, from a growth rate of 8.4% last year

Tech industry revenue to touch $254 billion this fiscal, says Nasscom

The domestic technology industry's revenue is projected to grow 3.8 per cent to USD 254 billion this fiscal, industry body Nasscom said on Friday. Excluding hardware, the revenue is expected to touch USD 199 billion, a growth of 3.3 per cent over FY23. The Engineering Research & Development (ER&D) sector alone contributed 48 per cent to the total export revenue addition in FY24, Nasscom said in its annual review. The projected 3.8 per cent growth is despite a 50 per cent slide in tech spending and 6 per cent decline in tech contracts in 2023 globally. This means the industry has added USD 9.3 billion incremental revenue in the fiscal, Nasscom said. It said despite reports of massive retrenchments, the industry added net 60,000 jobs, taking the total headcount to 5.43 million in the year.