Search Result for : Software Exports

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 ...

PTI India has become a land of software developers with the country accounting for the third largest number of such professionals, a senior Microsoft official has said. Driven by immense opportunities that the Indian government's digitisation programme has offered and the fact that it opens up a new vista of more than a billion plus market inside the country, there is a new level of enthusiasm and confidence among the Indian developers' community, said Narendra Bhandari, GM Developer Group in India, Microsoft. "The impact of these policy initiatives like demonetisation and GST, which is being rolled out soon, on software developers is that people who are building these applications are now thinking, how do I build these applications for a ...

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  Nomura, the Japanese financial holding company has played down the impact of US President Donald Trump’s protectionist trade policies as it projects the Indian economy to see only 10 bps hit on GDP at 6.8% in 2017. The Nomura Group, however, was quick to add that Trumpnomics is likely to impact the domestic software exports, as 86% of H1B visas have been taken up by Indians. "We expect this hit on growth to be only transitory, as remonetisation, wealth re-distribution and lower lending rates should result in growth returning to above 7% from the second half of 2017," Nomura said in a report. Nomura had earlier projected the country’s GDP growth to decline to 6.9% in 2017 from 7.1% in ...

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    India’s exports of computer software and information technology enabled services (ITES)/BPO services grew by 14.8% to $82 billion during the last financial year, RBI data said on Tuesday. The growth in India’s total software services exports were led by computer services, contributing a whopping 72% growth, followed by the ITES/BPO sector which contributed 28% during the period. Public limited companies accounted for 55.6% share of the total software services exports during 2014-15. According to the survey on ‘Computer Software & Information Technology Enabled Services Exports: 2014-15' released by RBI, the US and Canada continued to be India’s major exports destinations, accounting for about 60% of total software services export during 2014-15. “Europe's share stood at nearly 25%, of ...

 The Dollar Business Bureau | @TheDollarBiz Top businessmen in India are optimistic that Prime Minister Narendra Modi’s visit to Washington next week will yield greater results for bilateral trade and draw more investments into India compared to his recent meetings with Japanese Prime Minister Shinz Abe and Chinese President Xi Jinping. In a survey conducted by the Associated Chambers of Commerce and Industry of India (ASSOCHAM), about 77% of the 261 top Indian corporate leaders who participated in the survey said that they expect tangible results from the Modi-Obama meeting slated for September 29-30, 2014. The other 23% are perhaps cautious considering that USA’s perceptions of Modi have been less than impressive in the past. However, things have changed ...

 Sisir Pradhan | @TheDollarBiz Major software companies in India are increasing their presence in smaller cities and smaller states in a bid to reduce operational costs and improve profit margins. According to the Software Technology Parks of India (STPI), India's total software exports stood at around Rs.251,497 crore in FY2012-13. While IT cities like Bengaluru and Hyderabad remain leaders, software export from cities like Pune has registered a steady growth in recent years. Software export from Pune has increased to around Rs.29,500 crore in FY2012-13, which is almost 60% of total software export of around Rs.50,000 crore from Maharashtra that year. Software export from other smaller cities like Nagpur, Kolhapur, Nasik and Aurangabad has helped Maharashtra become the ...