Page 7 - It Industry

'Industry-academia connect make TN enviable for advanced manufacturing'

Tamil Nadu is likely to cross $8 billion in electronics exports in 2023-24

Apprentice skilling in IT/BFSI industry to create 5 mn jobs by 2025: Report

IT/ITES sector likely to pay between Rs 11,000 and Rs 75,000 to young apprentices

Amid muted earnings, Infosys to hand out 80% variable pay for Q2FY24

The IT sector has faced challenges as the Western markets have struggled with the possibility of a recession. Most clients for Indian IT companies are from the USA and Europe

IT engineering firms, LTTS, and Cyient struggle with high attrition rates

IT engineering cos provide product engineering services in auto, aerospace, medical device, and utility sectors. On the other hand, software engineering firms are mostly engaged in software products

IT hubs push home rent in India up 30% in first 9 months of 2023: Anarock

The highest jump in home rent of 31% was recorded in the Whitefield region in Bengaluru

Wipro is not alone, several Indian IT companies are facing a CXO churn

As experts at predicting business and industry growth, some CXOs might decide to switch companies or even sectors, or explore newer markets, innovative offerings, and fresh business models

IT industry salaries, wages continue to give margins a run for its money

The industry's core operating margins (that exclude other income) declined to 22 per cent of net sales in Q2FY24 from 22.4 per cent a year ago and the five-year average of 23.6 per cent of net sales

IT industry hiring weakens on global macro woes, slow discretionary spends

Weak global cues and a cut in discretionary spending by clients are expected to sharply reduce campus intake by the Indian IT industry this year with market watchers saying that Infosys and HCL Tech's subdued take on hiring signals a tough road ahead for freshers in the near term. In the opening week of Q2 earnings season, IT biggies TCS, Infosys and HCL Technologies reported a sequential drop in employee tally - a staggering 15,800 on a cumulative basis. The Q2 scorecard of tech heavyweights fell short of expectations as global growth skid on elevated levels of inflation and interest rates, reduced investment, and geopolitical shocks, exacerbating worries. Tech companies say that clients continue to defer newer, non-critical initiatives, choosing to focus on optimisation. While global voices concede that there are no signs of bottoming out just yet, JP Morgan's Jamie Dimon has warned that the world is facing the 'most dangerous time in decades'. Meanwhile, Infosys's headcount fell

Simple authorisation process likely for imports of IT products from Nov 1

The government is likely to put in place a simple import authorisation procedure and not a licensing process for inbound shipments of laptops, tablets and computers from November 1, according to sources. However, they said the commerce ministry is awaiting a final word on the issue from the Ministry of Electronics and Information Technology (MeitY). The government in August imposed import restrictions on laptops and computers (including tablet computers) with a view to boost domestic manufacturing and cut imports from countries like China. As per the notification of the Directorate General of Foreign Trade (DGFT), the restrictions will come into force from November 1. While the IT hardware product industry comes under MeitY, the DGFT notifies decisions with regard to import/export of a product. Following this notification, IT hardware industry had flagged concerns. "It will be more in the nature of an import management system where people will be issued an authorisation. It will

Not going to campus for recruitment at the moment, says Infosys CFO

Infosys, which hired over 50,000 freshers last year, is not going to campus for recruitment for the time being, Chief Financial Officer Nilanjan Roy said, adding that the IT major will honour offers that have been made. On the return-to-office approach, Infosys CEO Salil Parekh said the number of employees coming back to workspace is on the rise but asserted, in the same breath, that the company intends to maintain flexibility in its approach. Infosys' position on return to work is in variance to that of larger rival TCS, which has asked its 6.14 lakh-plus employees to work from offices, ending the practice of remote working that was necessitated by the pandemic. During the Q2 briefing, Infosys CFO Nilanjan Roy said the Bengaluru-headquartered company has a significant fresher bench and headroom for increasing utilisation, and hence it "is not going to campuses as yet". "Last year, we hired 50,000 freshers and hired ahead of demand...we still have a significant fresher bench... we

TCS ends pandemic practice, asks all employees to work from offices

Largest IT services company TCS on Wednesday announced that it has asked its 6.14 lakh-plus employees to work from offices, ending the practice of remote working that started due to the pandemic. The company -- the first major IT services firms to announce such a move -- has asked its workforce to return to offices because of the need to deepen the value systems and a belief in productivity gains coming from co-working, TCS Chief Human Resources Officer Milind Lakkad told reporters. "We strongly believe that they need to come to work so that the new workforce gets integrated with the larger workforce of TCS. And that is the only way they will learn and understand and internalise the TCS values and the TCS way. So yes, we are asking people to come all days in a week," Lakkad said. He added that in the last three years, it has hired a large number of people and hence, it is essential to instil the same values in all employees. When asked if the company has scrapped its '25 by 25' ...

Wipro to roll out merit salary increases, effective by December 1

Wipro delayed the announcement by a quarter reportedly due to macro headwinds and margin pressure

Results preview: IT companies brace for Q2 setback on muted growth

Analysts are expecting that the momentum in the closure of record total contract value (TCVs) will continue, as has been the case over the last two quarters

HP partners with Google to manufacture Chromebooks for Indian market

The devices manufactured in India will be sold solely in the Indian market and will not be exported to other countries

Centre aims at 60-80% local value addition in IT hardware in 5-10 years

The Centre has asked industries operating in India to execute new production techniques, such as surface-mount technology (SMT) lines, to increase the local value-addition percentage

HCLTech announces new digital transformation deal from Cricket Australia

IT services company enable Cricket Australia to deliver immersive digital services across the world

Govt to back industry in developing cutting-edge systems: Chandrasekhar

The Government is fully committed and ready to back the industry in developing cutting-edge competitive systems, Minister of State for electronics and information technology Rajeev Chandrasekar said on Sunday. India has an exciting opportunity and to make that opportunity fruitful, it should focus on developing commercially and globally competitive technology, he said at an event here. "The government is fully committed to making sure that DIR-V (Digital India RISC-V) microprocessor is the Indian ISA (Instruction Set Architecture), and we are ready to back the industry in developing cutting edge competitive systems," he said in a virtual address at the Digital India RISC-V Symposium. The Government of India, working towards realising the ambition of self-reliance under the 'Atmanirbhar Bharat' campaign, has rolled out the Digital India RISC-V Microprocessor programme with an overall aim to create micro-processors for the future in India. RISC stands for 'Reduced Instruction Set ...

Curbs on laptop imports to check hardware with in-built security loopholes

The government has imposed a licensing requirement for the import of laptops, tablets and personal computers to guard against IT hardware coming in with in-built security loopholes that may potentially endanger sensitive personal and enterprise data, top sources said. With India having sufficient capacity for IT hardware devices manufacturing, the requirement of purchasers needing permission to import laptops, tablets, all-in-one personal computers, and ultra-small computers and servers will not in any way hit domestic availability, sources aware of the thinking behind the government move said. Sources said the government is committed to ensuring that the Internet in India is 'open, safe and trusted and accountable' for all users. With the expansion of the Internet and more and more Indians coming online, the possibility of citizens being exposed to user harm and criminality has also increased. Various incidents of cybersecurity threats have also been reported. The inbuilt security

Govt to expand Semiconductor DLI scheme to larger, foreign firms: MoS IT

The government has set aside $200 million to help semiconductor design firms in innovation

The Power of Intelligent Systems: How Bidyut Sarkar is Revolutionizing Life Sciences and Industrial Manufacturing

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