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As India's regional rural banks RRB and state owned power sector firms seek to modernize their business and technology systems, the country's tech firms including TCS, HCL, Wipro and Infosys are seen pursuing projects worth almost USD1 billion over next 12 months.While over 91 RRBs plan to spend nearly Rs. 2,000 crore on tech upgradation including procurement of a core banking software, different state governments are set to spend around Rs. 2,000 crore as part of the Accelerated Power Development and Reforms Programme APDRP initiative.
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The country's largest software services firm, Tata Consultancy Services TCS, expects to clock Rs 500 crore revenue from the domestic banking business over the next one year. The company is betting big on IT spending by Indian banks over the next 12 months, with an increased impetus on financial inclusion and newer ways of banking such as over the Internet and mobile.
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IT services provider Wipro Technologies has opened its global delivery centre at Chengdu, China to provide IT and BPO services to its customers. The company claims that the new centre will have secured facilities, labs and infrastructure for customer projects and can grow to provide a capacity of 1000 seats.
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India continues to top the list of outsourcing nations, with six Indian cities in the top 8 outsourcing destinations, according to a global study.According to a survey done by Cyber Medias Global Services magazine and research firm Tholons, despite the changed global economic dynamics, India continues to rule the Top 8 Global Outsourcing Cities list. The list features only two non-Indian destinations.
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TCS and Wipro, the leading Indian IT outsourcing firms are persuading $400 million outsourcing deal for Americab s second biggest discount retailer, Target. The companies are somehow putting forward their bids for a potential acquisition of Targetb s captive technology centre; this could also be a long-term outsourcing contract worth $300-400 million.
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New telecom entrant STel has awarded a five-year IT outsourcing contract to Tech Mahindra. STel, which plans to compete with incumbent phone firms, including Bharti Airtel and Reliance Communications, had shortlisted Tech Mahindra and Wipro for outsourcing system integration-managed services. The contract also includes maintenance of the phone firmb s business and operational support systems.
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Indian IT firms have been beefing up their focus on the European market in the wake of the US downturn. While this potential market, especially continental Europe, is large, it wonb t generate proportionate pportunity in the next three years, according to Forrester Research.Sudin Apte, principal analyst, Forrester Research, said that at present Europe appears to be a lucrative opportunity which is not achieving its targets vis-C -vis the traditional offshore sales story. b It is a huge challenge and only providers who are culturally fit have a better chance to succeed,b b the analyst added.
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Consulting firm Booz and Company on Tuesday said the Indian engineering services outsourcing ESO industry will achieve USD50 billion in revenues by 2020, and generate employment for 25-30 million professionals for delivering these services. Currently, India exports engineering services worth USD7 to USD 9 billion annually, Booz andCompany said at the Nasscom global engineering summit in Mumbai.
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Indiab s lenders and insurers are renegotiating contracts worth at least USD800 million Rs3,720 crore with information technology IT firms, seeking more for less as they seek to cut costs and improve efficiency. Banking and insurance companies that outsourced long-term deals in the past two-three years are now going back to vendors for price cuts or asking for more IT services at the same price, according to an October survey of chief information officers who head IT divisions of large Indian enterprises.
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For the fourth consecutive year, India's Silicon Valley Bangalore bags the crown spot. Despite infrastructure still being a problem, Bangalore manages to bag the top position among the global outsourcing destinations. According to Cyber Media's Global Services magazine and research firm Tholons study, the presence of India's big three service providers, Infosys, TCS and Wipro , in the city continues to attract a chunk of global buyers.
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Outsourcing firm Capgemini will soon have more staff in India than in its home country of France with the opening of a new business information unit in Bangalore.The move is an indication of the growing power of India in the outsourcing industry.The new unit is expected to boost Capgemini's staff in India to more than 21,000, at least 1,000 more than its headcount in France.
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HCL Technologies Ltd. (HCL), a leading global IT services provider, has announced that it has been recognized as a 2009 Most Admired Knowledge Enterprise (MAKE) in India for maximizing Enterprise Intellectual Capital. The winners were announced during a special awards ceremony at the Confederation of Indian Industryb s b KM India 2009b Conference in Chennai. A panel of Indian-based Fortune 500 senior executives and internationally recognized knowledge management / intellectual capital experts selected the winners.
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Multinational outsourcing firms IBM and HP have been shortlisted for around $700-million contract for managing Microsoftb s global network of desktops, servers and other IT infrastructure, as the worldb s biggest software maker seeks to lower its operational costs and focus better on its core business. Indiab s top outsourcing vendors had also bid for this contract, but they lost out to the multinational rivals who have better global footprints and are even ready to take over assets, including Microsoftb s staff.
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Global technology and consultancy giant Accenture said on Monday that it would up its India workforce by 8,000 by the end of next year. With this, the company would see its employee base increase to 50,000. According to Accenture chairman and chief executive officer, William D Green who was speaking to PTI on the sidelines of the India Economic Summit, the company strength which was 42,000 at present would increase to 50,000 by the end of 2010.
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The National Australia Bank NAB has reportedly decided to outsource nearly 400 new jobs to India by the year end. The Bank has commenced its second round of its IT outsourcing program ITO Wave Two, and over the next phase, the Bank would examine offshoring up to 148 jobs from its Technology Banking, Australia TBA and Technology MLC divisions.The review will encompass TBAs three Melbournebased teams overseeing business and retail payments, Siebel and accounts services, and MLCs Sydneybased mainframe team.
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IT major Tata Consultancy Services (TCS) has established its third worldwide delivery centre in Queretaro in Mexico. The company claims that newly revealed facility, will further flourishes TCSs presence in the country. The company stated that it will hire 500 professionals for its new centre during the latest financial year. According to sources, the customers will get state of the art IT services, consultancy, test factory and business process outsourcing at the new centre.
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The top Indian outsourcing companies are now exploring acquisition opportunities in the Latin American countries, as increasing number of customers are demanding near-shore delivery capabilities for physical proximity and ease in managing these relationship.Small service providers in Brazil, Argentina and Mexico like Globant, which has customers including Adidas, LinkedIn and Citi and around $100 million in revenues, is increasingly being approached by some Indian technology companies.
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Mahindra Satyam on Tuesday said that it won an IT outsourcing contract from Swedish defence and aerospace firm, Saab, to develop its operations for the global defence and security market in India in a deal valued at around USD300 million. The contract, which spread over a period of five years encompasses engineering services and technology maintenance, will enable both the companies jointly address the Battlefield Management System (BMS) for the Indian Army, according to a release.
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India-based systems integration and distribution company HCL Infosystems has won a INR5.3 billion or USD114m contract from power distribution utilities in Rajasthan state, India to implement a state wide solution involving integration of IT, geographic information system, automatic meter reading and associated technologies. The deal involves consultancy, design, development & implementation of business process applications, CRM, Billing, GIS and AMR. It also involves setting up of a wide area network, data center with a disaster recovery back-up center.
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