48 Indian Companies in Forbes Global 2000 (Top Companies Worldwide)

February 25th, 2009 NEW DELHI - The Federation of Indian Chamber of Commerce and Industry Wednesday expressed concern over US President Barack Obama's statement on ending tax breaks for outsourcing companies, saying 'protectionist measures could deteriorate the situation further'. 'Coming at a time when the global economy is going through a phase of slowdown and when countries need to work collectively, protectionist measures of any kind could deteriorate the situation further,' FICCI said in a statement.

February 26th, 2009 BANGALORE - Indian IT industry body Nasscom has reacted cautiously to US President Barack Obama's remarks on outsourcing, saying global outsourcing had benefited US firms that generate over 50 percent of their business overseas. 'American companies generate more than 50 percent of their business outside the US.

February 25th, 2009 BANGALORE - Indian IT bellwethers Infosys Technologies and Wipro Wednesday expressed confidence that the US would not take any measure that would hurt its global competitiveness. Reacting cautiously to US President Barack Obama's remarks on outsourcing Tuesday, Infosys said outsourcing had enhanced the competitiveness of US corporations and had created more jobs within the US economy.

February 3rd, 2009 NEW DELHI - The Indian software and services industry is expected to grow 16 percent this fiscal and log revenues of $60 billion despite the global slowdown, a top lobby for the industry said Wednesday. The National Association of Software and Service Companies (Nasscom) said together with the business process outsourcing (BPO) sector, the revenues are expected to top $71.7 billion with a growth of 17 percent.

February 3rd, 2009 NEW DELHI - The Indian software and services industry is expected to grow 16 percent this fiscal and log revenues of $60 billion despite the global slowdown, a top lobby for the industry said Wednesday. The National Association of Software and Service Companies (Nasscom) said in its report that together with the business process outsourcing (BPO) sector, the revenues are expected to top $71.7 billion with a growth of 17 percent.

February 3rd, 2009 NEW DELHI - With corporate governance and accounting norms coming under the scanner following the $1.43-billion Satyam scam, global consultancy and accounting major KPMG Wednesday announced the launch of an initiative to help Indian businesses conform to international accounting standards. KPMG's initiative - a web-based platform called the International Financial Reporting Standards (IFRS) Institute - is designed to assist various stakeholders in the planned convergence from Indian Generally Accepted Accounting Principles (GAAP) to IFRS.

January 14th, 2009 MUMBAI - Indian IT firms received another jolt Thursday when Canada-based Nortel Networks, one of North America's largest telecom equipment firm and an important client for outsourcing firms here, filed for bankruptcy. Among the biggies of Indian outsourcing firms that are expected to bear the heat of the development are Tata Consultancy Services (TCS), Wipro, Infosys and Sasken Communication Technologies, industry sources said.

January 7th, 2009 NEW DELHI - Accusing oil companies of committing a Satyam Computers-like financial fraud, striking truckers Thursday demanded 'thorough audit' of the oil firms and asked the government to issue a white paper on the matter. 'The government should come up with a white paper and there should be a thorough audit and investigation into the accounts of the oil companies.

May 5th, 2009 NEW DELHI - India Inc believes the move by the Barack Obama administration to reduce tax breaks for US firms that ship jobs overseas will hit American companies more than impact on the Indian outsourcing industry. 'It's a more US-US issue rather than one aimed at stopping outsourcing, or off-shoring, or anything to do with India,' said Som Mittal, president of the National Association of Software and Service Companies (Nasscom), a representative boddy for the industry.

December 28th, 2008 NEW DELHI - Third party logistics outsourcing business in India will grow to $90 million from the present $58 million by 2012, according to a study released Monday. Presently around 55 percent of Indian companies are outsourcing logistic services like supply chain management and warehousing, said the study by the Associated Chamber of commerce and Industry (Assocham).

March 4th, 2009 WASHINGTON - A downturn in worldwide economy, Satyam's fraud case and the terrorist attacks in Mumbai and supply chain and shipping cost issues in China are causing US technology companies to pull back from the two traditional outsourcing locations. Citing these three global factors, an annual survey by BDO Seidman, LLP, one of America's leading accounting and consulting organizations, Tuesday suggested several technology firms would choose US as future outsourcing location over India and China.

May 11th, 2009 NEW DELHI - US President Barack Obama's recent announcement on tax crackdown on companies outsourcing to overseas firms will not affect the Indian IT sector, an industry official said here Monday. 'It will impact only American companies.

January 20th, 2009 BANGALORE - Azim Premji, chairman of IT major Wipro, is optimistic about the revival of the Indian economy earlier than the world economy, saying the country remained largely insulated from the fallout of the financial meltdown and recession in developed countries. 'I am little more optimistic about the India situation.

December 27th, 2008 BANGALORE - After nearly a decade of uninterrupted boom, the Indian information technology industry finds the road ahead bumpy as 2008 draws to a close, with the global meltdown and financial turmoil in the US and other rich countries catching the otherwise resilient sector off-guard. With no signs of early revival, even the top firms - TCS, Infosys and Wipro - are bracing for hard times in the year ahead.

January 14th, 2009 MUMBAI - India's outsourcing firms were jolted Thursday after Canada-based Nortel Networks, one of North America's largest telecom equipment firms and a key client for many IT firms in this country, filed for bankruptcy. Among the biggies of Indian outsourcing firms that are expected to bear the heat of the development are Tata Consultancy Services (TCS), Wipro, Infosys and Sasken Communication Technologies, industry sources said.