Search Result for : It Sector

The Dollar Business Bureau The Cabinet on Wednesday permitted the membership of India for the European Bank for Reconstruction and Development (EBRD), a step that will help the country in obtaining funds in various sectors such as manufacturing and services.  “The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved India's Membership for European Bank for Reconstruction & Development (EBRD),” said an official statement. “Necessary steps will be initiated by the Department of Economic Affairs, Ministry of Finance to acquire the membership of the EBRD,” it added. The membership of the multilateral institution will enhance the scope of cooperation between EBRD and India through opportunities for co-funding in various sectors such as manufacturing, services, energy and information technology (IT).  With EBRD membership, India’s investment opportunities would ...

The Dollar Business Bureau  Andhra Pradesh will create about two lakh jobs in the field of electronics manufacturing and information technology (IT) sector in the coming two years, said the state’s IT minister Nara Lokesh. “In order to fulfil the target, the focus will be on manufacturing medical devices, in addition to the manufacturing of consumer durables and mobile phones” Lokesh, who is the son of Chief Minister N Chandrababu Naidu and holds the portfolio of Panchayati Raj said. He met Ravi Shankar Prasad, Union Minister for Information Technology on Wednesday and asked for his assistance in a variety of IT-related projects which are in the pipeline and have the possibility to create jobs. “The Union minister assured us help as Andhra Pradesh is growing fast in both the ...

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 Refuting the claims of any slowdown in the Indian IT sector, Law and IT Minister Ravi Shankar Prasad said on Tuesday that the sector will generate 25-30 lakhs jobs by 2025. “As (the) IT minister of the nation, I completely deny and refute that there is any downturn in the employment in this sector. It is robust, slated for great growth and once digital economy ushers then you can fathom its development,” said Prasad, while sharing the achievements of the Ministry of Electronics and IT in the past three years. The Minister said that the IT companies in India have created 6 lakh jobs in the past three years. “IT firms directly employ around 40 lakh people and about 1.3 crore indirectly. ...

The Dollar Business Bureau India’s IT software services exports from units under the Software Technology Parks (STP) scheme of the government is projected to have witnessed a growth of around 9% to Rs.3.19 lakh crore in the last fiscal. According to a government data, exports of IT software services from the STP units have steadily grown over the last three years. The exports were Rs.2.73 lakh crore in FY 2013-14 and reached Rs.2.93 lakh crore in FY 2014-15. These were further grown to around Rs.3.19 lakh crore in FY 2015-16. India’s overall IT/IT-enabled services (ITeS) exports are estimated at $108 billion in the fiscal of 2015-16. The government provides various incentives to the IT sector. These steps have been the main contributory factors for ...

The Dollar Business Bureau Assocham in its recent report stated that Karnataka attracted Rs 53,396 crore investments in the IT sector i.e., nearly  a quarter of all the IT investments made in the country. Nearly 25% of the total Rs 2.2 lakh crore invested were from both public and private sectors that preferred Karnataka as their number one destination for all their IT needs. The state’s compounded annual growth rate has grown at 14% since 2005 i.e., from Rs 14,337 crore in 2005-06 to Rs 53,396 crore in 2015-16. Investments in India specifically in the IT sector showed an increase from over Rs 46,200 crore in 2005-06 to over Rs 2.2 lakh crore in 2015-16, with a CAGR of over 17% during this period, ASSOCHAM revealed ...

Source: PTI British IT and software firm RSK Business Solutions has merged with its Indian partner BSL Information Technology to jointly deliver consultancy services in different parts of the world. England-headquartered RSK Business Solutions Limited (RSK BSL) merged with its Gurgaon-based Indian partner BSL Information Technology Private Limited (BSLi) to create UK-registered RSK Business Solutions Holdings Limited. The merger will enable both entities to jointly expand services to new regions and markets, the firms said on Monday. "The merger will enable us to provide a wider range of services to new and existing clients while maintaining the high levels of customer service and the high quality of output to which our clients have become accustomed," Managing Director of the ...

Sharath Chowdary | The Dollar Business With more and more availability of quality commercial spaces, two South Indian cities - Hyderabad and Bangalore – have become preferred commercial destinations for global brands. According to real estate experts, whether it is office building or retail malls, these two cities have registered a strong uptake of commercial space. Anshuman Magazine, CMD of CBRE South Asia said, “The global shopping centre pipeline has continued to increase, reaching 41.9 million sq m in 2015, from 39 million sq m in 2014, and with Asian cities dominating all of the top 10 most active global markets. Of this, India has about 1.4 million sq m of under construction shopping centre space across Hyderabad, Bangalore and New Delhi.” Veera Babu, ...