Projection of IT growth by Nasscom realistic, industry
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 ...
NASSCOM lowers IT export growth estimates to 7-8% in 2017-18
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 ...
Sitharaman offers Rs.1.18 cr to Mangaluru start-up incubator
The Dollar Business Bureau Commerce and Industry Minister Nirmala Sitharaman on Friday announced that she will contribute Rs.1.18 crore to a start-up incubation centre to be established in Mangaluru (Karnataka) from her MP Local Area Development fund. The Kanara Chamber of Commerce and Industry (KCCI) and Dakshina Kannada district administration are planning to establish the incubation centre in order to boost ecosystem for start-ups in Mangaluru. “The first start-up incubation centre for Dakshina Kannada will come up in the next four months,” Sitharaman said while speaking to reporters. The Minister said that the 6,000 sq ft facility at Mangaluru City Corporation (MCC) building in Mallikatta in the city could have accommodation for 60 seats. She further stated that the Central government would provide basic infrastructure ...
Achieving $1 trillion digital economy is not a tall claim. Why wait for 7 years? Can we do it in 3-4 yrs? Prasad
The Dollar Business Bureau The IT industry should help India build a $1 trillion digital economy within four years by creating affordable technology and an inclusive environment, Union Minister Ravi Shankar Prasad said today at the High Level Round Table with Pioneers of Industry for developing the roadmap for ‘One Trillion Dollar Digital Economy of India’, organised by MeITY, in New Delhi. Highlighting multi-billion dollar opportunities that exist in areas like IT and IT enabled services, e-commerce, electronics manufacturing, digital payments and cyber security, he said that achieving $ 1 trillion digital economy is not a "tall claim". "I don't have any doubt that it will become $1 trillion in 7 years. My humble request is why wait for 7 ...
IT industry to create 25-30 lakh jobs by 2025: Prasad
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. ...
We categorically reject the reports of mass layoffs in the sector, Chandrasekhar, NASSCOM
The Dollar Business Bureau Nasscom, belied the media reports about mass layoffs in the IT sector. Sounding optimistic the trade body said that the industry is likely to hire 1.5 lakh people on a net basis but the techies in the software industry have to re-equip themselves with skills relevant for the jobs in the market. There were reports in the media last week that around 50,000 techies could be laid off this year from companies like Infosys, Cognizant and Wipro. Reacting to the same Nasscom President R Chandrasekhar told the media, "we categorically reject the reports of mass layoffs in the sector. FY17 saw 1.7 lakh people being added, while in Q4 alone, the gross hiring was of over 50,000 by ...
NASSCOM GIC Conclave 2017 redefines the role of modern GICs
Sneha Gilada Global In-house Centres (GIC) are an integral component of the Indian IT industry and contribute significantly to the country's service export revenues. They have also been immensely beneficial to the economy in terms of employment generation. But the broad function of a GIC has changed dramatically in the last three decades, from being purely an operational vehicle delivering cost advantage by way of employing cheap labour; to driving strategic innovation and acting as a brand's window of penetration into new markets. Celebrating the growing role of GICs in a modern day global enterprise, NASSCOM (National Association of Software and Services Companies) organised the 8th edition of its GIC conclave. The two-day event, inaugurated on April 20, was held in the city of Hyderabad, which is one among India's prominent IT hubs. The summit's prime ...
Australia visa move unlikely to affect Indian IT workers: NASSCOM
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 ...
