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Wipro Will Achieve Double Turnover to USD 15 Billion By 2020: Abidali Z Neemucchwala

20Jul By AnkitaNo Comments

Entrepreneurs Talk

Wipro Will Achieve Double Turnover to USD 15 Billion By 2020: Abidali Z Neemucchwala

Bullish on the "existing market opportunity", Wipro CEO Abidali Z Neemucchwala today said the company is confident of achieving its ambition of doubling its turnover to USD 15 billion by 2020. "I am very confident about the company's ambition (of doubling its turnover to USD 15 billion by 2020 because of the existing market opportunity. The way the market is panning out, and the investments the company is making and the structure and leadership factors it has been putting in place are being seen very positively by our customers and analysts," he told reporters after announcing financial results here. He added that the company's investments, leadership and structure that it is putting in place has been received positively by its customers and analysts. Neemuchwala said, "All these ...

1Jul By NitishNo Comments

INDIA

HCL Infosystems Delivered First Made in India Communication Network For Indian Armed Force

HCL Infosystems, one of India's premier IT services, distribution and digital solutions company, has enabled the design, development and deployment of Defence Communication Network (DCN) - the first tri-service communication and IT network of the Armed Forces. The network has been fully designed and developed in India. The DCN was today dedicated to the nation by Shri Manohar Parrikar, the Hon'ble Raksha Mantri, Government of India. Speaking on the occasion, Mr. Premkumar Seshadri, Executive Vice-chairman and Managing Director, HCL Infosystems Ltd. said, "This is a moment of great honour for us. HCL Infosystems is proud to design, develop and deploy the first ever converged tri-service communication and IT network for the Indian Defence Forces. The network has been entirely designed and d...

Players in Financial Services May Relocate From London: T V Mohandas Pai

24Jun By Press Trust of IndiaNo Comments

Entrepreneurs Talk

Players in Financial Services May Relocate From London: T V Mohandas Pai

Indian IT players catering to clients in the financial services space in London may shift their operations to other parts of Europe in the wake of Britain's exit from the European Union, says tech investor T V Mohandas Pai. For the Indian IT industry, the biggest immediate impact would be the shift in the movement of Pound Sterling, which has now become cheaper, Pai said. "That's already impacting them, marginally, depending upon who is exposed to business in the UK," he told news agency noting that over a period of time, lot of work is being done by Indian IT companies in UK financial services space in London. "Now, many of them may migrate to (other parts of) Europe. In case they migrate to Europe, they have to shift to Europe. What happens there is something that needs to be seen. So...

Delhi-NCR Emerged as The Top Job Creator City in January-March: Report

29May By AdityaNo Comments

News

Delhi-NCR Emerged as The Top Job Creator City in January-March: Report

Delhi-NCR emerged as the top job creator among eight major cities in January-March, generating over 2.6 lakh new employment opportunities in the period, says a report. A total of 8.5 lakh jobs were created in eight major cities across the country, the report said. "Delhi-NCR emerged on top with over 2.6 lakh new jobs created during January to March 2016 followed by Bangalore (1.9 lakh), Mumbai (1.5 lakh), Chennai (82,200) and Hyderabad (60,000). About 88.9 per cent of job openings have been recorded in these top five cities," the report by Assocham said. In Delhi-NCR, about 61.1 per cent of job openings were recorded from the information technology enabled services (ITeS) followed by services (18.5 per cent), manufacturing (8.4 per cent), banking financial services & insurance (...

Abidali Neemuchwala Wipro Draws $1.8 Mn Pay Package in FY16

28May By AnkitaNo Comments

News

Abidali Neemuchwala Wipro Draws $1.8 Mn Pay Package in FY16

In his first year at Wipro, former TCS veteran got an annual pay package of USD 1.8 million (about Rs 12.04 crore). This is higher than what his predecessor and former CEO T K Kurien earned at Bengaluru-based IT major. However, his peers at rivals Infosys and Tata Consultancy Services (TCS) have fatter pay packages. According to a regulatory filing, Neemuchwala received USD 859,079 in salary and allowances, USD 351,213 in commission/variable pay, USD 575,122 as other payouts and USD 21,216 as long-term compensation during the financial year ended March 31. Infosys Vishal Sikkas package for the year stood at Rs 48.73 crore package, while that of TCS chief N Chandrasekaran was Rs 25.6 crore (USD 3.8 million) in addition to a special bonus of USD 1.49 million. Sikka, who is credited wi...

Indian Companies To Pay $4,000 More For H-1B Visa Fee

27May By Press Trust of IndiaNo Comments

News

Indian Companies To Pay $4,000 More For H-1B Visa Fee

Flagship Indian IT companies would have to pay at least an additional USD 4,000 for every H-1B visa application under the new regulations that came into effect last December, according to details published on Friday by a federal US agency. And those applying for L-1 visa petitions would have to pay USD 4,500 more than other US companies under the new law, which would be in effect till September 30, 2025. The H-1B visa is designed to allow US employers to recruit and employ foreign professionals in speciality occupations within the US while L-1 visas are available to employees of an international company with offices in both the US and abroad. Indian IT firms - which have to incur an additional burden of about USD 400 million annually - have called it "discriminatory", with Prime M...

18May By AnkitaNo Comments

News

Major American Newspaper Media Outsource Its IT Services To India

A major American media company which owns prestigious dailies like Los Angeles Times and Chicago Tribune will outsource a part of its IT component to Indian software giant TCS, according to a media report. Chicago-based Tribune Publishing Company said it has informed its IT employees last month that it is moving work to India-based IT company Tata Consultancy Services (TCS), a news report in Computer World said yesterday. However, it did not say the number of employees would be hit by such a move. "IT employees at Tribune Publishing say they received warning of the outsourcing late last year. In April, they were told that over an 18-month period, Tribune would be moving to information technology outsourcing across its business, according to employees contacted," the report said. ...

Nasscom Tie-Up with Salezshark For Sales Operations

20Apr By AnkitaNo Comments

News

Nasscom Tie-Up with Salezshark For Sales Operations

SalezShark, a relationship cloud based startup in USA will handle customer relationship management of Nasscom. Salezshark has chosen over the likes of Microsoft and American cloud computing company Salesforce.com to handle sales operations of Nasscom. SalezShark will now manage the entire gamut of operations from marketing, events and publications to internal member and non-member data, functions for which Nasscom had been relying on multiple systems. "Requirement came from Nasscom's end to manage their huge data and help increase productivity within the organisation," said SalezShark founder Ajay Chauhan. "They will utilise SalezShark for our sales and marketing automation as well as introduce social selling in their sales culture," he said. SalezShark has implemented a marketing eng...

Biz2Credit Partners With TaxSpanner,to Boost Financing Success

19Apr By AdityaNo Comments

BUSINESS

Biz2Credit Partners With TaxSpanner,to Boost Financing Success

Biz2Credit, a leading online resource in personal and small business finance, today announced a marketing partnership with TaxSpanner, one of Indias largest and most trusted company that offers online preparation and filing of Income Tax Returns (ITR) for individuals and businesses. "Our agreement will ultimately enable individuals and entrepreneurs to access personal and business finance more efficiently," suggests Biz2Credit CEO Rohit Arora. "Were always seeking opportunities to enhance the experience of our clients and we are pleased to be able to provide them with a valuable resource on our platform." Through this partnership, Biz2Credit and TaxSpanner will leverage their client channels to offer customized services that will holistically grow their companies. Individuals who are see...

Oracle to Set Up Startup Incubators in India

7Apr By Press Trust of IndiaNo Comments

News

Oracle to Set Up Startup Incubators in India

To mentor budding entrepreneurs and help the emerging companies access best technology, IT major Oracle will set up nine startup incubators across the country. "Our goal is to make it extremely easy for people to access the Cloud and we want to make it accessible not just to big companies, but also to every person who has an idea for a business that can transform this country," Oracle President Thomas Kurian today. Mentoring is a key part of the initiative and the incubator will facilitate the companies to learn from venture capital funds and also former chief executives of successful startups, he said at a company event here. Even though the company works with the software ecosystem across the world, this is a global first of having dedicated incubators, Kurian added. ...

Indian Govt Allows 100% FDI in Marketplace Model of E-commerce

29Mar By Press Trust of IndiaNo Comments

INDIA, News

Indian Govt Allows 100% FDI in Marketplace Model of E-commerce

The government permitted 100% foreign direct investment (FDI) in the marketplace format of e-commerce retailing with a view to attract more foreign investments. The norms on FDI in the sectors of e-commerce, and IT and ITeS are expected to be part of detailed guidelines, which would be rolled out soon by the government, sources said. Last week, a group of senior officials from departments of DIPP, corporate affairs and economic affairs, among others, discussed these matters in great detail. According to sources, the DIPP has suggested that 100% FDI should be allowed in “marketplace model e-commerce” activities. In such a model, the e-commerce company provides an online platform for buyers and a sellers. At present, global e-tailer giants such as Amazon and Ebay are operating onlin...

IT, Start-ups Get Less Attention in Budget 2016: Nasscom

1Mar By PriyankaNo Comments

News

IT, Start-ups Get Less Attention in Budget 2016: Nasscom

The union budget for 2016-17 was a mixed bag for the Indian IT industry and start-ups, which witnessed very few proposals with caveats, the industry’s apex body Nasscom said. “The budget is a mixed for the technology and services sector, as clarification and simplification boost business and more technology adoption in governance is a step in right direction,” Nasscom said in a statement. “In the backdrop of global economic volatility, there are unmet expectations on policy announcements that enable ease of doing business for our sector. The budget partially covers our wish list on policy bottlenecks, including ease of business, nurturing start-ups, products and e-commerce sector,” Nasscom chairman B.V.R. Mohan Reddy said. On Finance Minister Arun Jaitley’s stress on leveraging techn...