Indian outsourcing trade body forecasts recovery
India's provision of outsourcing services to other countries will grow by 12 to 14 percent in the fiscal year starting April 1, a trade body predicted Tuesday.
India's provision of outsourcing services to other countries will grow by 12 to 14 percent in the fiscal year starting April 1, a trade body predicted Tuesday.
Wipro's fourth-quarter IT services revenue grew 4.8 percent year on year, reflecting an overall recovery in offshoring to India.
Tata Consultancy Services had strong revenue and profit growth in the fourth quarter, indicating that the offshoring market is recovering.
Revenue at Infosys grew in the fourth quarter, but profit fell as a result of a wage rise and investments in newer businesses.
IBM has been slapped with a multimillion dollar lawsuit by chemical products manufacturer, Avantor Performance Materials, which alleges that IBM lied about the suitability of a SAP-based software package it sells in order to win Avantor's business.
The number of new IT and business process outsourcing contracts worldwide dropped year-on-year in the third quarter, with contract values also decreasing, a research firm said.
Wipro said Friday its IT services business grew only 4.6 percent in U.S. dollar terms in the quarter ending Sept. 30, a much slower rate of growth reflecting a weak global economy.
Wipro has decided to move its non-IT businesses out of the company to give it a higher focus on IT services, it said Thursday.
Tata Consultancy Services on Friday reported strong revenue and profit growth in the third quarter, citing a pick-up in discretionary spending by customers.
Online professional network LinkedIn has set up a technology center in India that will focus on engineering and operating the company's products and systems.
An investigation by the US Securities and Exchange Commission has been expanded to include Computer Sciences Corp.'s business in Australia, the company said on Wednesday.
Tata Consultancy Services (TCS) has bagged a £1.37 billion (US$2.2 billion) business process outsourcing order from Friends Life, a provider of pensions, investments, and insurance, it said in a filing to Indian stock exchanges.
The U.S. Air Force is close to making decisions on the future of a sprawling Oracle ERP (enterprise-resource-planning) project that is supposed to remake the military branch's worldwide supply chain, according to a recently released document.
India's largest outsourcer, Tata Consultancy Services, reported on Monday strong revenue and profit growth in the quarter ended Sept. 30, despite difficult economic conditions in some of its key markets in the U.S. and Europe.
India's second-largest outsourcer, Infosys, reported strong revenue and profit growth for the quarter ended Sept. 30, despite concerns about economic problems in its key markets in the U.S. and Europe.
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