Page 3 - Indian It Firms

27 firms granted approval under new IT hardware PLI scheme: Vaishnaw

The government on Saturday said 27 companies, including Dell, HP, Foxconn, and Lenovo, have been granted approval under the new production-linked incentive (PLI) scheme for IT hardware. The move comes at a time when India is wooing IT hardware players with policy sweeteners and incentive schemes, making a determined push to position itself as a global hub for hi-tech manufacturing. "I am happy to announce that 27 companies have been approved under the PLI IT hardware scheme. About 95 per cent of these...23 companies are ready to start manufacturing from day-zero," Minister for Electronics and IT Ashwini Vaishnaw said. "This will set us up for being a big force in manufacturing of PCs, servers, laptops, and tablets," he added. These 27 companies will invest Rs 3,000 crore. Big players, including Dell, Foxconn, HP, and Lenovo, are among the companies whose applications have been approved.

Infosys, AWS join hands to help financial clients accelerate cloud adoption

As part of the collaboration, Infosys and AWS aim to support financial organisations, like retail banking at NatWest Group, in accelerating their cloud adoption journeys

TCS to revise rates for staffing cos to enhance transparency, better talent

The changes in rate cards are for contract staffing employees and not for permanent employees. TCS is revamping its hiring mechanism

Amid one of largest headcount drops, TCS rethinks 25/25 strategy, ends WFH

In Q2 of FY24, TCS observed a reduction of over 6,300 in its total employee count

Open-source solution from AyanWorks gets Digital Public Good status

The verifiable digital credential system CREDEBL has been included in the registry of digital public goods maintained by DPGA

As business from West takes a hit, Indian IT firms explore African market

As things stand, the African continent holds a relatively small share of less than five per cent in the global IT outsourcing

Indian IT firms set for 'washout' year, focus now on 2025: JP Morgan

The focus for this quarter's earnings reports will be on deal signings as well as the split of new deals versus renewals to assess fiscal 2025 growth, the analysts said

India-Canada rift bad for business; IT firms may struggle to land new deals

Canada makes up to 5-6 per cent of Indian IT companies' revenues. Top companies like TCS and Infosys have recently acquired work from Canadian government departments and organisations

Indian IT cos don't see any immediate challenges due to India-Canada tussle

So far, both Canada and India have expelled senior diplomats in reciprocal moves. On Thursday, September 21, India temporarily suspended visa services for Canadian citizens

Infosys signs multi-year digital partnership with Denmark-based STARK Group

As part of this collaboration, Infosys and STARK Group will establish a 'state-of-the-art' data centre in Denmark

Employee costs to haunt Indian IT even as biz prospects improve: Analysts

Indian IT Services companies, Goldman Sachs said, have doubled their market share in the last 10 years to 6.2 per cent of the global IT spending in CY22

Infosys signs 5-year deal with Liberty Global estimated at $1.64 bn

Collaboration will enable London-based video and broadband company to realise run-rate savings of more than $109 bn

TMS Ep491: GST on gaming, AI & Indian IT, Fitch's US downgrade and more

Has the online gaming industry got a new lease on life? Is Indian IT embracing AI? How soon can equities recover from Fitch's US downgrade blow? What is Minerals Security Partnership? Answers here

IT firms register a downfall in employee headcount, delay in salary hikes

Representatives from HCLTech said that the company had decided to postpone the compensation review by a quarter. Moreover, senior management at HCLTech will not be receiving pay hikes this year

Large cost-optimisation deals returning for top Indian IT companies

In recent months both TCS and Infosys announced bagging mega deals

Top-deck Indian IT companies need to rightsize bench size: Experts

To address this challenge, IT services companies can prioritise rightsizing their bench strength

Top headlines: SoftBank eyes Indian startups, Hindujas top UK rich list

Business Standard brings you top news at this hour

Wipro announces Rs 12,000-crore share buyback at Rs 445 per share

IT services firm initiated a similar programme in 2020 worth Rs 9,500 crore

US analytics firm ThoughtSpot 'acquihires' India's SagasIT Analytics

ThoughtSpot has invested $150 mn in India between 2022 and 2027, set up an 'excellence centre'

Indian IT services firms likely to post muted revenue growth in Q4

FY24 revenue growth may decline by 700-900bps: CRISIL Ratings