Cognizant, the Nasdaq-listed IT services major with large employee presence in India, provided an upbeat revenue guidance for 2018 in the range of 8-10% and projected an improvement in margins.
The Budget has also emphasised on other key themes of the government like smart cities, digital economy and creating a paperless infrastructure. These would augur well for the country as it keeps pace with latest developments in technology.
Budget 2018: The union budget 2018 raised a ray of hope for the start-up ecosystem in the country with the promise of addressing the various issues relating to investment in such companies, but fell short of removing their biggest irritant: angel tax.
The start-up ecosystem, comprising entrepreneurs, venture capitalists and angel investors, is looking forward to the Budget, hoping for relief from its biggest bugbear: angel tax.
In fact, Pai thinks IT companies are in a good position. According to him, the annual global consumption of software is $1 trillion, growing at 2-4% annually, but Indian IT services companies are growing at 6-9%.
The element of design is likely to be the key factor in defining the success of products or services in an emerging digital world
Artificial intelligence has emerged as the hottest technology area and the number of start-ups in India from this segment is only increasing every year.
Cognizant, the Nasdaq listed IT services major with a large employee presence in India, has revised its revenue guidance for the second time this calendar year and has placed large bets on digital technologies which have witnessed higher growth than the company’s overall average.
The growth rate in employee addition has fallen below 5% for the top tier Indian IT services companies — Tata Consultancy Services (TCS), Infosys and Wipro.
The second quarter performance of FY18 remained sedate for the top tier companies of India’s IT industry but
they are preparing themselves for the future growth opportunity which is digital.
Wipro has been engaged with automation technologies for quite some time now with larger focus being on implementing in its various internal process like travel booking, accounting process etc.
UB Pravin Rao, the interim CEO of Infosys, during a Citi Global Technology Conference held in September, had said they had gone out on a massive outreach programme with their clients.
The spotlight is now shifting towards B2B start-ups as they are seen as ventures with sustainable business models thus creating a wider impact.
The search for a new chief executive officer (CEO) at Infosys has begun with the nominations committee scanning for candidates both internal and external.
Technology platforms can have a deep impact if it touches the underserved segments of the population. Keeping this in mind, Dalberg Advisors and iSPIRT have thrown open a competition to entrepreneurs to build their innovative solutions on India Stack platform
Even as sources close to NR Narayana Murthy claimed on Monday, the chairman emeritus had refrained from participating in the probe in the $200-million Panaya acquisition.
The Board of directors at Infosys is likely to see a restructuring in the coming weeks, sources said, even as the friction between founder NR Narayana Murthy and board chairman R Seshasayee continues to fester beneath the surface.
When Vishal Sikka took over as Infosys CEO in August 2014, he was the first ever non-founder to assume the mantle at the IT firm.
Infosys founder N R Narayana Murthy has expressed his anguish over what he termed was a personal attack by the current Board that he founded and said that he would reply to their allegations in the right manner and in the right forum and at the appropriate time.
Nasdaq listed IT firm Cognizant, which has revised upwards the lower end of its revenue guidance for 2017, has witnessed its digital revenues growing higher than the company’s average.
Indian start-ups have come a long way with the country becoming the third largest hub after the United States and the United Kingdom, with presence of close to 5,000 vibrant entities.
In a rare instance, India’s biggest IT firms, Tata Consultancy Services (TCS), Infosys, Wipro and HCL Technologies, have all posted a sequential drop in net profit in the April-June quarter, given the multiple headwinds facing the sector.
Axis Bank has emerged as the front runner and has placed an initial bid of $20 million (Rs 128 crore), for acquiring Freecharge, the mobile wallet company owned by Snapdeal.
The challenges for the IT industry still remain with tepid topline growth and declining profits in the first quarter of FY18, but the silver lining lies in the strides they have made in the digital business
Online grocery firm Bigbasket’s talks with multinational e-commerce giant Amazon has come to a halt, with disputes over its valuation and differences over its operating model (OM) occupying centrestage on the negotiation table.
Alipay, China’s leading online payment platform, has entered the fray to acquire Freecharge, the mobile wallet company owned by Snapdeal.
The $150 billion Indian IT industry is expected to have a sedate start this fiscal, with the first quarter results of top tier companies like TCS, Infosys and Wipro commencing this week.