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The finance minister announced the transition of the Unique Identification Authority of India (UIDAI) into an operational stage and allocated an amount of Rs 1,900 crores for this project. The large allocation along with the proposal to constitute a Technology Advisory Group for unique projects is a welcome move and one that is likely to open up significant avenues for the Indian IT sector in the fast growing “e governance” market.
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In the first decade of 2000, India has seen its gross domestic product grow two-and-a-half times with two-thirds of the growth driven by the services sector. India’s information technology industry has been the calling card for making India’s presence felt globally in this space. It’s only fair that this industry receive all the support and stimulus required to continue the momentum and its significant contribution to the country’s GDP.
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The IT market in India is expected to grow at about 15.5 percent in 2010, returning to a “new normal rate” after last year’s turbulent economic environment, according to a new report. In a report titled “India IT Market Predictions 2010″ released Monday, Manish Bahl, research manager at Springboard Research, said the growth would be spurred by organizations initiating new large-scale projects over the course of the year. These initiatives will require significant IT infrastructure-related investments, he noted.
Going forward, there is great interest in cost-cutting measures as CIOs in India focus on allocating around 75 percent of their budgets to “keep the lights on”, added Bahl. The report pointed to a noticeable shift in enterprise IT spending from focusing on new investments to streamlining costs and improving internal efficiencies. Read the rest of this entry » |
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South Korean president in India to boost trade, investment, offers help with nuclear energy
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South Korea’s president offered his country’s expertise in civil nuclear energy production to India on Monday and discussed steps to expand growing trade between two of Asia’s largest economies.
Trade between the two countries, just $2.6 billion in 2002, reached more than $16 billion in 2008, said Gautam Bambawale, an Indian foreign ministry official. About 300 South Korean companies have offices here, including major firms like Hyundai, LG and Samsung. South Korean President Lee Myung-bak held talks with Prime Minister Manmohan Singh, External Affairs Minister S.M. Krishna and other officials on Monday. At a meeting with Indian business leaders, Lee said he discussed many issues with Krishna, including nuclear energy cooperation. “I apprised him about the Korean capabilities in the sector and told him that this was a very productive area to collaborate for mutual benefit, and it would make your nuclear energy sector globally competitive,” a statement by the Confederation of Indian Industry quoted him as saying. Read the rest of this entry » |
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PwC survey finds competition increasing, but growth in legal services expected to be strong Increased demand in outsourcing is forcing many providers to add staff and invest in new services to meet anticipated growth, according to a new survey from Duke University’s Offshoring Research Network and PricewaterhouseCoopers.
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India’s neighbour and economic powerhouse China is building on its English-language skills and will emerge as a serious competitor to the Indian software industry, believes Infosys mentor NR Narayana Murthy. “Today, US and India are clear leaders in software. This will continue at least for the next year or two. However, China has done a very good job of improving their speaking skills in English,” he said. “In terms of infrastructure China is about 100 years ahead of ours. So give another two years and China will become another serious competitor,” he said. Even as debate rages on over the off-shoring model, with various countries talking about the loss of jobs to lower-wage countries, Murthy said Indian IT companies will now have to be more aggressive in markets abroad and hiring there. “They will have to be much more aggressive in training them and absorbing them, and creating a universal culture. They have to be much more aggressive in making sure that they live in harmony with those societies.”
Murthy was speaking to CNBC-TV18 before the ceremony to felicitate laureates of the Infosys Prize 2009. The prize was given by the Infosys Science Foundation, a non-profit trust to promote research in science in India. Read the rest of this entry » |
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Global Market, Indian Software Market, iPOTT & Indian Market
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Courtesy “Economic times” |
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India’s $60-billion technology services industry may have hoped for a rebound in 2010 after gloomy 2009, but days into the New Year, the initial optimism is fast wearing thin. Industry officials, analysts and other experts believe that India’s IT sector, a habitual growth monster until the crisis period last year, is unlikely to return to the ‘business as usual’ situation that existed before the crisis and will have to soon recalibrate itself to a new reality and new growth strategies.
After a compounded growth of over 30% since the 2003-04 dotcom bust, software export growth fell to 16.3% at $46 billion last fiscal against 27% at $40 billion in 2007-08. Read the rest of this entry » |
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The fight to grab the SME pie is seeing cut-throat competition as Microsoft also seems to have re-aligned its focus on this segment after Google’s success. Google has seen huge success through its Google apps products and is on verge of introducing many more enterprise products.
The package pricing for SME would start from Rs. 250 to varying charges according to needs of the SME. Microsoft partners – Airtel, Wipro and Read the rest of this entry » |
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