| |
|
India and other lowcost labour markets could see growth in outsourcing services slowing down in 2008 due to the looming global recession, a global strategic advisory firm has said. The multinational Hackett Group found that there was still significant longterm opportunity for continued business growth in India, as companies in North America, Europe and industrialised Asian markets struggle to reduce costs and drive higher effectiveness.
|
|
| |
|
Indian IT outsourcing company Wipro plans a big expansion in China in the next two years, its chief operating officer said in Tokyo on Tuesday. The company has about 200 staff working in China and another 200 working in India supporting its China based operations, but expects this to rise to 2,000 staff in the next two years, said A.L. Rao.
|
|
| |
|
The slowdown in US economy has begun to drive more outsourcing work Indian way. Europeb s largest consulting and computer services firm, Capgemini, has reduced hiring in the United States to a bare minimum, increased the portion of offshoring in its contracts there from 40% to 60% and is moving internal support services to India, a company official said.
|
|
| |
|
The IT R&D offshoring market in India is expected to record a CAGR of 23% to touch $21.4 billion by 2012, according to a study done by Zinnov, a consulting firm. Zinnov said there are around 600 MNC captive centres in India and for 2008, the total revenue is expected to touch $9.4 billion with $5.8 billion going to come from the MNC captive centres rest from the third-party vendors.
|
|
| |
|
Analysts are optimistic that things are going to be fine for Indian IT vendors who have been cautious on biz outlookGlobal technology research and advisory firms such as Gartner Inc., Technology Partners International Inc. (TPI) and Everest Group say companies in the US will farm out more software contracts offshore in the year ahead to Indian vendors as pressure builds on them to cut costs, but local information technology, or IT,service firms continue to be cautious on their outlook as the US economy continues on a path of slow growth.
|
|
| |
|
Economic uncertainty prompts companies to delay contracts, but may soon benefit outsource services.
Close on the heels of the appreciation of the Indian rupee against the dollar, Indian outsourcing companies are grappling with a new problem, uncertainty among U.S. companies about a recession has made these companies delay finalizing their IT budgets. As a result many large deals between U.S. clients and Indian outsourcers will not be finalized in the first half of this year, said Sudin Apte, senior analyst and country head for India at Forrester Research.
|
|
| |
|
Remote infrastructure management RIM could be the next big offshore opportunity for India and is poised to become a $13 to 15 billion opportunity for the Indian IT industry by 2013, according to NasscomMcKinsey report. The RIM industry would also create 3.25 lakhs to 3.75 lakhs jobs, the report says. RIM is a missioncritical service requiring sophisticated tools and reflects highcustomer confidence and relationships. By increasing RIM services the Indian IT industry is moving towards becoming a fully integrated service provider. This report is aimed not only at assessing the opportunity but also identifying the actions to be taken to help realise it, explained Som Mittal, president, NASSCOM.
|
|
| |
|
The Egyptian session, held on the second day of the forum, was not only a chance to illuminate the countrys growing potential, but also witnessed a testimonial from an Indian businessman who emphasized Egypts keenness to attract Foreign Direct Investments (FDI). Ajay Shinkar, president of Srishti Indian Company, answered a question posed by one of his countrymen on how hospitable Egypt is to medium sized companies, by saying that ,what I saw during a visit to Egypt was really amazing.
|
|
| |
|
Client mining, or cross-selling more services to existing customers, is helping Indian software services vendors such as Tata Consultancy Services Ltd (TCS), Infosys Technologies Ltd and Wipro Ltd earn more revenues even as mega deals evaporate from the outsourcing landscape and competition intensifies from global firms.
TCS has tripled its number of customers giving $100 million (Rs394 crore) in annualized revenues over the past 12 months, while Infosys and HCL Technologies Ltd have more than doubled them, even though they havenb t won as many large deals.
|
|
| |
|
IT bellwether Wipro Infotech Wednesday signed a $50-million deal with Pantaloon Retail India Ltd for streamlining the IT operations of the retailers outlets across the country. As per the five-year deal, Wipro will roll out and manage IT operations of Pantaloons 1,000 outlets in 53 cities and build scalability to extend the IT infrastructure to 1,500 more outlets set to come up over the next five years.
|
|
| |
|
The owner of Heathrow Airport will reduce cost of application services and development with the transfer 50 staff and use of onshore/offshore outsourcing deal model.Airport owner BAA has today announced it has outsourced its IT applications to LogicaCMG.Under the new agreement, the systems integrator will work with BAA and its partners to transform and manage most of BAA's current software applications.
|
|
| |
|
Indian IT services giant Satyam has announced the opening of its Global Development Centre (GDC) in Egypt's Smart village.The GDC will provide development and support services for Satyam customers in the Middle East, in support of the company's expansion plans for the region.
|
|
| |
|
Indian firms are increasing their IT budgets an average of 13 percent this year, far more than the global average of 3.3 percent, research company Gartner said Wednesday. The countrys domestic IT market is also forecast to grow at a five year compound annual growth rate CAGR of 20.3 percent, reaching USD 24.3 billion by 2011.
|
|
| |
|
Indian IT firms, bracing for an expected slowdown in the US economy, have zoomed in on Japan as a strategic market for future investments, reports Economic Times.The Japanese IT market, the biggest after the US, is estimated at around USD 150 billion. At present, Indian firms get only 2 to 4percent of their revenues from Japan and doubling this could be in their future growth agenda
|
|