It Sector

Wednesday, Apr 24, 2024 | Last Update : 05:55 PM IST

Award of new contracts could fall by at least 7-9 per cent in 2021, with manufacturing, travel, airlines, hospitality and retail to be the most adversely hit, Icra said.

Technology sector set for 3 per cent revenue dip in FY21: Rating agency Icra

“The sector is expected to grow at -3 per cent - nil in FY21 versus earlier expectation of 6-8 per cent,” the agency said in a report.

13 Jul 2020 8:17 PM

IT and Telecom Minister Ravi Shankar Prasad. (PTI Photo)

Work from home may become new norm, says Ravi Shankar Prasad at G20 meeting

The minister highlighted India's action plan to fight coronavirus by leveraging digital technology and called for a global digital response

01 May 2020 11:51 AM

Despite being ranked fifth in Asia-Pacific region for rise in prime office rentals in Q2 2019, Bangalore’s growth has slowed down to single digits, indicating lower spending by the IT and ITeS sector.

Slowdown hits office rental growth

The elbow room for increase in rental is highly limited in the near-term, said Parth Mehta, Managing Director, Paradigm Realty.

28 Aug 2019 2:53 AM

Budget proposed that effective July 5, 2019, buyback will attract 20% tax plus surcharge, similar to dividend distribution tax.

Share buyback to attract higher tax

Indian IT stepped up payout of free cash flow through a mix of dividend and buyback (more tax efficient) in the past three years.

08 Jul 2019 2:28 AM

Digital technology can take the cloud computing market in India to USD 7.1 billion (about RS 49,000 crore) by 2022 from USD 2.5 billion (about Rs 17,250 crore) in 2018. (Photo: Pixabay)

Jobs in IT sector: 2.5 lakh new vacancies coming soon, says govt

2 million people would be trained in digital technology in the next three to four years from 0.6 million people currently.

04 Jul 2019 10:52 AM

Tech majors Tata Consultancy Services and Infosys Technologies will jointly open the fourth and final quarter of the financial year 2018-19 on April 12.

Strong quarter seen for TCS, Infy & HCL

Banking is the largest vertical for IT companies. At a broader level, spending growth in the vertical will be slower than in 2018.

03 Apr 2019 1:29 AM

The data, which is an estimate based on household surveys, shows 31.2 million people were actively looking for jobs in February this year.

Ctrl-Alt-Stall: India's engineers struggle for work as jobs crisis worsens

India’s unemployment rate rose to 7.2 per cent last month, up from 5.9 per cent in February 2018.

12 Mar 2019 11:34 AM

Technologies like artificial intelligence (AI) and machine learning becoming more and more integral to business operations in the IT/ITES sector.

2019 likely to be a cold year for tech jobs

Low single-digit, need-based, lateral hiring may take place across Indian technology landscape.

10 Jan 2019 10:57 AM

On gender diversity, the survey says female employability this year has increased to 46 per cent from 38 per cent last year.

Tech hiring set to make comeback in 2019: report

According to India Skills Report, almost 64 per cent employers have a positive outlook on hiring.

22 Nov 2018 1:46 PM

GST charged would be available as tax credit, except for sectors which are exempt from GST like education, hospitals, alcohol and petroleum.

Salary costs at headquarters to attract 18 pc GST: AAR

GST invoice for functions performed by employees in head office that has helped branches in other states.

14 Aug 2018 11:47 AM

In April 2018, US Citizenship and Immigration Services announced it had received 1,90,000 H-1B visa petitions.

Weak rupee helps IT cos beat visa issues

While US growth continued to linger in mid single digits, Europe was the key driver clocking 17 per cent YoY growth.

06 Aug 2018 12:09 AM

American tech worker gets paid $80,000 per annum for a particular job and Indian workers for the same job gets paid only 60 pc of that amount.

Indian techies chasing American dream never had it this bad

Indian tech firms used to underpay their Indian employees in US, until a parity pay was made mandatory by Trump Administration.

25 Jul 2018 9:07 AM

IT/BPM, Health, Ecommerce, Manufacturing and Pharma led the GDPR readiness efforts.

India Inc envisages GDPR as the next big business opportunity: Study

71 per cent of survey respondents expressed that this regulation will help bring a sense of privacy in business and innovation in ideas.

02 Jul 2018 5:23 PM

Indian start-ups have potential to be world-class organisations: Rishad Premji

Indian technology and services industry is on track to reach its goal of USD 200-225 billion in revenues by 2020.

28 May 2018 11:54 AM

During the last fiscal, the company sold 45,329 units, down 9.41 per cent from 2016-17 where it sold 50,042 units.

Volkswagen eyes IT, banking professionals in India to drive sales

Program offers benefits on purchase, servicing of the vehicle, accessories as well as loyalty benefits.

09 Apr 2018 2:24 PM

Latest quarter witnessed only nine PE investments worth USD 100 million or more compared to 13 such transactions in the same period last year.

PE investments fall 49 pc to USD 3.7 billion in Jan-Mar: report

The investment amount was also 29 per cent lower than the December 2017 quarter.

02 Apr 2018 1:35 PM

With 24 per cent exports from the IT industry, it is the largest export sector for the country.

IT to create 1 lakh jobs in FY19, misses FY18 target

Nasscom on Tuesday projected a growth rate of 7-9 per cent for the IT and BPO sectors for fiscal 2018-19 as against 7.8 per cent in 2017-18.

21 Feb 2018 2:49 AM

In 2017-18, there were 97,961 sanctioned seats for engineering where 68,594 seats went vacant.

Engineering overhyped; quality takes a beating

80 per cent graduates are not employable; a few takers for other courses.

03 Feb 2018 6:16 AM

West Bengal Chief Minister Mamata Banerjee (Photo: Abhijit Mukherjee)

Kolkata to set up Silicon Valley for IT growth

She informed that the decision was the outcome of deliberations at the fourth edition of Bengal Global Business Summit which was held on Jan 16-17.

01 Feb 2018 4:35 AM

Former Chief Financial Officer of Infosys, V Balakrishnan

IT hiring to be slower for years to come: V Balakrishnan

IT sector is on track to meet the 7 to 8 per cent export growth projected by industry body NASSCOM.

09 Nov 2017 1:47 PM

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Sanjeev Ahluwalia

it sector