New Delhi: Concerns about a slowdown in US economy poses the biggest risk to India’s $167 billion information technology (IT) outsourcing industry as experts fear Fortune 1000 companies may cut spending on technology, hurting Tata Consultancy Services Ltd (TCS), Infosys Ltd and Wipro Ltd. Demand for digital services, which includes data crunching and artificial intelligence (AI) powered platforms, is still linked to the overall health of an economy, they say.
New Delhi: The twin trends of outsourcing larger technology contracts and Fortune 1000 companies awarding work that was earlier done internally to its vendors have led analysts and information technology executives to suggest that the sector could grow faster in the year starting 1 April.
These trends are the third positive development for India’s $167 billion information technology (IT) outsourcing sector, after the first six months of the current fiscal saw IT firms adding more employees and raising salaries of some of them by as much as 40%.
Shares of information technology (IT) companies were under pressure on Friday with the Nifty IT index falling over 1 per cent and extending its decline into the fourth straight day, after the US indices extended falls as sentiment remained fragile.
Tata Consultancy Services (TCS), Infosys, Wipro, NIIT Technologies, Larsen & Toubro Infotech, KPIT Technologies, Tata Elxsi and Sonata Software were down between 1% to 2% on the National Stock Exchange (NSE).
Technology professionals look towards Indian Space Research Organization (ISRO) as a more aspirational tech workplace than software major Tata Consultancy Services (TCS), according to a report by job search portal Indeed.
Indeed announced the leading technology organisations to work for in India, on the basis of over 100 million ratings and reviews available on Indeed. Leading the list is Adobe Inc., followed by industry giants NVIDIA and Microsoft.
In a major victory for Tata Consultancy Services (TCS), a California court passed a verdict in its favour on a petition which alleged the IT services giant discriminated against non-South Asian workers.
A class action suit was brought against TCS in 2015 in the US District Court, Northern District of California, Oakland division, by a US law firm on behalf of three former employees, alleging a pattern and practice of discrimination against the people of non-South Asian origin in the US.
Shares of information technology (IT) companies are trading higher for the third straight session, with the Nifty IT index gaining 5% so far during this period on value buying.
Tata Consultancy Services (TCS) and Infosys, from the index, are up 4% each at Rs 1,961 and Rs 663, respectively. NIIT Technologies, Mindtree, Tata Elxsi, Tech Mahindra and HCL Technologies are up in the range of 1% to 3% on the National Stock Exchange (NSE).
IT outsourcing giant Tata Consultancy Services needs to offer a good explanation for why engineers hired at its American outposts are 13 times as likely to be fired if they’re not South Asian.
The company is set to go on trial in California over racial discrimination claims by American workers who lost their jobs at TCS offices in the US because they hadn’t been assigned to any of its clients.
The proposed Silicon Valley Hub in Kolkata, the flagship information technology (IT) project of the West Bengal government, has attracted four major players — Reliance Jio, Tata Consultancy Services, Capgemini and Firstsource.
The four companies are the major ones among others to have submitted proposals under the expression of interest (EOI) floated by the West Bengal government for setting up units in the proposed hub, said Amit Mitra, finance,
IT major Tata Consultancy Services Friday said it has acquired London-based digital design company W12 Studios, in its first merger and acquisition (M&A) in the space as well as under the leadership of CEO Rajesh Gopinathan. Financial details of the deal, however, have not been disclosed by the company.
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