IT Recession is Going to End Next Year: Infosys CEOApril 18th, 2009 Though the financial sector has started showing some signs of recovery from the global meltdown, the IT industry in the country will take some more time to regain the growth momentum, a top industry official said here saturday. 'The crisis started in the financial sector and recovery also seems to be happening first in that sector,' S.
Global meltdown has hit IT sector hiring in India: NilekaniFebruary 15th, 2009 BANGALORE - Infosys Technologies vice-chairman Nandan M. Nilekani Monday admitted that the global economic meltdown has affected hiring in India's IT industry.
Employment outlook under severe strain: StudyDecember 27th, 2008 NEW DELHI - Financial services, information technology, consumer goods, retail and real estate sectors have witnessed the maximum decline in the creation of new jobs because of the economic slowdown, a leading business chamber has said. The Assocham Research Bureau, which tracked job vacancy data in 30 sectors to analyse the creation of new jobs in the economy, found that the 'employment outlook of India has come under severe strain'.
Computer security industry grows 18.6 percentJune 22nd, 2009 NEW DELHI - While most business sectors were affected by the slowdown last year, the anti-virus and computer security industry grew 18.6 percent totalling $13.5 billion in revenues, IT market researcher and consultancy Gartner said Monday. According to a report by Gartner, there is an increasing demand for appliance-based products, particularly within certain segments such as e-mail security and secure web gateway markets.
Indian state-run firms spent $3.1 bn on IT: StudySeptember 16th, 2009 NEW DELHI - State-owned firms spent $3.1 billion on information technology in India during 2008 and the amount is expected to top $5 billion by 2011 at an annual growth of 19 percent between 2007-2011, says a new study by Springboard Research. More than two-thirds of the total spending will be led by the federal government, with states accounting for 22 percent and local governments for another 11 percent says the study on public sector IT opportunities in India by the market research firm.
Revenues of Indian software industry to top $60 billion: NasscomFebruary 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.
Karnataka logs $17-bn software exports despite meltdownSeptember 1st, 2009 BANGALORE - Defying the global meltdown, Karnataka earned $17 billion (Rs.74,929 crore) from software exports last fiscal (2008-09) as against Rs.60,800 crore the previous year, registering a 23 percent growth in rupee terms and 21.5 percent in dollar terms. "The export performance of the IT industry in the state, especially Bangalore, demonstrates the knowledge sector remains unaffected by the global meltdown and decline in IT spending overseas," state Information Minister Katta Subbramanya Naidu told reporters here.
India's telecom sector earnings to cross $30 bn by 2013: Gartner IncJune 18th, 2009 NEW DELHI - India will continue its robust telecom story with the sector's revenue to be more than $30 billion by 2013, according to a global information technology research and advisory firm. "Total mobile services revenue in India is projected to grow at a compound annual growth rate (CAGR) of 12.5 percent during 2009-2013 to exceed $30 billion, the US-based Gartner Inc said in a statement Thursday.
Bengal's IT sector looks beyond recession daysJanuary 24th, 2009 KOLKATA - The global economic meltdown has reduced the pace of growth of West Bengal's showpiece IT sector, but the state wants to build IT infrastructure and develop a talent pool so that it's ready when times get better. 'During the last financial year, the IT sector in the state grew around 46 percent in dollar terms against the national growth of 28 percent,' state IT Minister Debesh Das told IANS.
Nasscom pegs revenues of Indian software industry at $60 bnFebruary 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.
India's IT, outsourcing revenues seen at $63 bn this fiscalJuly 29th, 2009 NEW DELHI - India's information technology and outsourcing industry is expected to grow over 7 percent this fiscal to log revenues of $64 billion with much faster expansion within the domestic market, a leading industry group said Wednesday. The National Association of Software and Service Companies (Nasscom) has forecast in its latest study that the software and outsourcing industry will log an export growth of 4-7 percent this fiscal to log $48-50 billion in revenues.
Goldman Sachs raises 2010 IT spending view, predicts double-digit online ad growth next yearSeptember 21st, 2009 Goldman Sachs raises 2010 outlook for IT spendingSAN FRANCISCO — Goldman Sachs increased its 2010 outlook for global information technology spending on Monday and also predicted online advertising will return to double-digit growth next year. In a note to clients, the investment bank raised its IT spending forecast to 4 percent growth from 2 percent, citing improvements in macro indicators like gross domestic product and corporate profits.
Khurshid asks IT sector to give inputs on new Companies BillSeptember 15th, 2009 KOLKATA - Corporate Affairs Minister Salman Khurshid Tuesday urged the Information Technology (IT) sector to spell out its standpoint and suggestions on the Companies Bill which is slated to come up before a standing committee of parliament soon. "We are in the process of moving before the standing committee of parliament the Companies Bill, 2009.
US research firm foresees decline in global IT spendingJanuary 13th, 2009 SAN FRANCISCO - Global purchases of information technology goods and services may decline by three percent in 2009, ending seven years of growth, US research firm Forrester said in its latest report on global IT market outlook
It said global IT purchases by businesses and governments will fall to $1.66 trillion. The decline is a distinct shift from 2008, when global IT purchases increased by eight percent.
Forecaster says worst is over in US ad revenue trend, but growth won't be seen until 2011July 13th, 2009 Forecaster says worst is over for US advertisingAn advertising forecaster said Monday that the worst is over for the U.S. ad slump but that across-the-board revenue growth won't resume until well into 2011.
NEW DELHI - The IT and IT enabled services (IteS) industry in India is expected to grow 10.8 percent to touch Rs.309,573 crore ($64 billion) in 2009, the slowest in the last five years, a report released here said. "The domestic market is estimated to grow at 10.2 percent to touch Rs.109,406 crore, while exports will likely grow at 11.2 percent to cross Rs.200,000 crore, the report by market intelligence firm IDC said.
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