Indian state-run firms spent $3.1 bn on IT: Study

May 8th, 2009 BANGALORE - Indian IT firms would not be impacted by the tax reform proposal of US President Barak Obama, Infosys Technologies chairman and chief mentor N.R. Narayana Murthy told President Pratibha Devisinh Patil Friday.

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 11th, 2009 CHENNAI - Perhaps for the first time in the Indian corporate history, an audit firm - and a foreign one at that - is being dumped midway by a company. The government-appointed new board for Satyam Computer Services has declared that the fraud-hit IT bellwether will have a new audit firm to restate the books of accounts.

July 27th, 2009 BANGALORE - Investment in IT training and software certification is set to decline by 25 percent in the Asia-Pacific region this fiscal as budgets on tech spending fall due to recession, a study by IT research and advisory firm Gartner said. "Training budgets are among the first to be cut as part of cost containment efforts in the downturn.

May 14th, 2009 THIRUVANANTHAPURAM - Companies based in the Technopark IT industrial park here will join hands with the Kerala government to strengthen the AIDS awareness campaign in the state, an industry official said here Thursday. The Group of Technopark Companies (GTECH), a body representing the chief executives of the Technopark firms, has adopted a corporate policy on HIV/AIDS that calls for strengthening the awareness campaign among among the member companies and employees, the group secretary, Satish Babu, said.

March 17th, 2009 BANGALORE - The State Bank of India (SBI) group deployed 3i Infotech software to prevent money laundering in compliance with the central bank's regulatory order, the bank said Tuesday. 'We have contracted with IT software product firm 3i Infotech to deploy its anti-money laundering solution across our group comprising SBI and six associate banks to monitor any suspicious transfer of money, including terror financing,' SBI chief general manager B.S.

January 8th, 2009 CHENNAI - In an announcement that took everybody by surprise, Tamil Nadu Electricity Minister Arcot N. Veeraswamy said here Friday that the state does not need any more investment from the IT sector.

January 12th, 2009 SINGAPORE/MANILA - With a billion dollar revenue fraud dealing the Indian IT sector a body blow, BPO firms in the Philippines are hoping to make capital by getting some of the business from the West. Leading politician Representative Joseph Santiago said the unravelling of the massive revenue fraud at Satyam Computer Services would dissuade multinational companies from seeking BPO services in India.

January 11th, 2009 SINGAPORE/MANILA - With a billion dollar revenue fraud dealing the Indian IT sector a body blow, BPO firms in the Philippines are hoping to make capital by getting some of the business from the West. Leading politician Representative Joseph Santiago said the unravelling of the massive revenue fraud at Satyam Computer Services would dissuade multinational companies from seeking BPO services in India.

June 6th, 2006 IBM is spending 6 billion USD in the next three years to extend and improve its Indian operations. In the last three years IBM has already spent 2 billion dollars in India.

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.

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).

December 3rd, 2005 Intel, world's largest chip maker, plans to make an investment of $1 billion for its Indian operations. The firm will spend $800m on boosting its research and development operation, with the rest of the cash being used to finance investment in firms.

August 19th, 2009 CHANDIGARH - The Punjab government is offering various sops to information technology (IT) companies operating in the state, including a 24-hour uninterrupted power supply, in order to boost the sector, a government official said here Wednesday. "No economy can grow only on the shoulders of agriculture and we have to give a boost to the IT and service sector.

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.