Search Result for : It Exports

The Dollar Business Bureau  The projection by Nasscom that Indian IT exports would grow 7-8 per cent in the current fiscal is realistic and reasonable and reflects the current global business environment, say senior figures in the sector.  The numbers put out by the industry body are very realistic because the global IT spending is not going up this year and there are political uncertainties in the US and parts of Europe, two key markets of Indian firms, said T V Mohandas Pai, the former Chief Financial Officer (CFO) of Infosys.  "In this background, it is very good. All big companies have said they will grow between seven to nine per cent," he noted. In its guidance, Nasscom yesterday said IT exports are expected ...

The Dollar Business Bureau  India’s IT software exports are expected to grow at 7-8% during the current financial year 2017-18, which is less than 8-10% in the previous fiscal of 2016-17, the apex trade body NASSCOM said on Thursday. “The outlook for the IT industry in fiscal 2017-18 is 7-8% growth in exports and 10-11% in the domestic market as against 10-12% in 2016-17,” NASSCOM said in a statement. The Indian IT services sector has been coping with a slowdown in the business of banking and financial services, which contributes a major part to the revenues. It has also been impacted by its retail customers facing a sluggish growth from the upsurge of online retail channels. India’s $150-billion IT industry revenues mainly come from Business Process Management (BPM), software ...

The Dollar Business Bureau  Striving to make the life of small exporters easier, the Department of Commerce is likely to push for greater interest subsidy and broader export credit insurance. As part of the review of Foreign Trade Policy (FTP) – 2015-2020, the Commerce Department is seeking to broaden the basket of services and to make it more attractive for foreign nationals to study and get medical treatment in the country. Nirmala Sitharaman, Commerce and Industry Minister, has marked two sections small exporters and services to be added in the review of the FTP, which is expected to be released in June, in time for the roll out of the Goods and Services Tax (GST). According to sources, Rs.1,000 crore has been ...

The Dollar Business Bureau The move by the Australian government to abolish the 457 visa for foreign workers would not have much impact on visas provided to Indian IT workers, said industry body National Association of Software and Services Companies (NASSCOM). “...it is a surprise and seems to be have been driven by domestic political compulsions where we are seeing immigration as a matter of huge political concern within the current geo political environment,” the industry body said in a statement on Wednesday. In order to tackle the rising unemployment, Australia has eliminated the 457 visa programme, which was used by more than 95,000 temporary international workers, with many of them being Indians. The Australian government will replace this visa with another programme by ...

The Dollar Business Bureau On Sunday Nasscom said Singapore’s decision to block tech visas has limited the number of Indian IT professionals to less than 10,000 in the South East Asian nation that could also hamper future deals for the IT companies of the two nations. Nasscom President R Chandrashekhar said: “The number of Indian tech workers employed with various companies, are a few thousand now, probably under 10,000, which is inadequate to drive the growth of the industry," he told. Singapore has for long acted as a gateway for the Indian IT firms to provide their services in the region. Many Indian tech giants, including HCL, Infosys, Wipro and TCS have set up their operations in Singapore. "If things don't change, companies will have to look for ...

PTI Projects worth USD five billion are expected to be discussed during the India visit of Malaysian Prime Minister Najib Razak, which started on March 30, as the two sides look at inking more than a dozen business deals. Prime Minister Narendra Modi and Najib will hold wide- ranging talks on April 1, during which the two sides will also try to take forward their cooperation in key areas of security, defence and counter-terrorism. Briefing reporters on the six-day visit, Jaideep Mazumdar, Joint Secretary (South) in the External Affairs Ministry, said, "Projects under discussion during the visit would amount to around USD five billion," and about 15 business agreements are also expected to be signed during a business event on April ...

PTI  The US today said the premium processing of H-1B visas, which are popular among Indian IT firms and professionals, has been suspended temporarily to handle the huge rush of applications for the work visas in the first week of April. "The (H-1) program is not suspended. We suspend premium processing, which means we would have to process the application in 15 days," Lori Scialabba, the US Citizenship and Immigration Services (USCIS) acting director, told members of the House Homeland Security Subcommittee on Oversight and Management efficiency. The US will start accepting applications for H-1B work visas from April 3 for the fiscal 2018. Responding to questions from lawmakers, Scialabba said in the first week of April USCIS receives 200,000 or ...

The Dollar Business Bureau India on Monday discussed various issues that included intellectual property rights (IPRs) and proposed restrictions on H1B visa programme, with US lawmakers who are on a visit to the country. These were the issues discussed during a 45 minute long meet between India’s Commerce and Industry Minister Nirmala Sitharaman and the 8-member delegation from the US in New Delhi. India raised issues regarding restrictions on H-1B visa, which will have an adverse impact on the IT industry of India, whereas the US side raised matters related to IPR and copyright, according to sources. In addition, both sides also deliberated upon the issue of market access for some specific agricultural products. The US delegation is headed by Bob Goodlatte, Chairman of ...