Nasscom has released a report detailing Indian IT’s contributions to the US economy, in a hostile environment marked by rejection of visas in the professional categories H1 and L1. Yashwant Raj
reports. Some numbers to impress uncle Sam
A handful of entrepreneurs are trying to prevent the country's software industry from getting "Bangalored". Firms are moving up the value chain in their own way and switching from traditional markets in America and Europe.
India has successfully fought off competition from new and emerging outsourcing regions such as the Philippines, South Africa, East Europe and Latin America to retain its position as the world's BPO hub, shows data released by Nasscom. Vivek Sinha
reports. Calling India
US authorities announced today that they have busted another payday scam, worth several million dollars, conducted on US citizens from callers in India, HT
Investigation into allegations that Infosys broke visa rules to get Indian employees into the United States will put India's outsourcing industry on eggshells.
Rating agency Standard & Poor's (S&P) today revised outlook for three top Indian information technology companies -- Infosys, Tata Consultancy Services (TCS) and Wipro -- to negative from stable.
IT giant Infosys paid its top management personnel a total remuneration of $10.7 million (over Rs. 50 crore) during the last fiscal, marking an increase of about 50 per cent from the previous year.
Uncertainty about spending by US and European clients in a weak global economy will likely weigh on the earnings of India's software giants Tata consultancy Services (TCS) and Infosys, analysts said on Wednesday. The domestic IT industry earns about three-quarters of its revenues from customers in the US and Europe.
Infosys chief executive officer SD Shibulal said the hiring plan of the company for the year does not change although the software exporter revised downwards its revenue guidance for the year in a difficult global environment. Excerpts from an interview.
Has Infosys lost its bellwether tag? The question loomed large on Thursday after the Bangalore-based software leader reported first-quarter results that were below market expectations, HT
reports. Cloudy outlook
Indian IT companies supported as many as 2.8 lakh jobs in America last year amid a gloomy employment scenario in the US and have invested a whopping over five billion dollars in FDI through acquisitions and green-field projects, according to India's top envoy in Washington.
Foreign investors have increased their stake in IT companies in the April-June quarter this year, amid depreciating rupee against the dollar.
Indian companies are among the world's 10 lowest paying employers in the IT space, with their mid-to-senior level staff getting an average salary of $38,767 (about Rs.
21.5 lakh) per annum.
Infosys Technologies today said it will acquire global management consultancy firm Lodestone Holding for an aggregate enterprise value of 330 million Swiss Francs (about Rs. 1,932 crore) in cash.
Stating that the global economy is still "volatile and uncertain", National Association of Software and Services Companies (Nasscom) today said Indian firms are exploring new markets like Africa, Japan, and the Middle East.