World News

Tag: IT

  • India’s IT Spending To Reach $160 Bn in 2025: Report

    India’s IT Spending To Reach $160 Bn in 2025: Report


    New Delhi: India’s IT spending is projected to reach $160 billion in 2025, an increase of 11.2 per cent from 2024, according to a report on Tuesday. 

    Fuelled by expansion in both application and infrastructure software markets, software spending in India is projected to record the highest annual growth rate, increasing 17 per cent in 2025, according to a Gartner report.

    “In 2025, Indian chief information officers (CIOs) will start allocating budgets for generative AI (GenAI) beyond initial proof-of-concept projects,” said Naveen Mishra, VP Analyst at Gartner.

    “While spending on GenAI will increase, CIOs’ expectations for its capabilities will diminish. Additionally, Indian CIOs are expected to significantly boost spending on technologies such as cybersecurity, business intelligence, and data analytics in 2025 compared to 2024,” Mishra added.

    The price premium of GenAI-enabled offerings across customer relationship management (CRM), email and authoring, and analytic platforms will drive software spending, resulting in the growth of this segment.

    By 2025, more than 50 per cent of application software offerings with GenAI capabilities will carry an associated price premium. Pricing options will continue to evolve through 2025 as buyers are tested for their willingness to pay a GenAI premium.

    Despite the global services market being characterized by cautious spending, macroeconomic uncertainty, and higher capital costs, IT services spending in India is projected to grow 11.4 per cent in 2025.

    “Service engagements around cloud, application, and consulting are expected to drive stronger growth in India. Furthermore, GenAI’s role in delivering industry use cases and improving labour productivity will be a key expectation from Indian enterprises in 2025 and beyond,” according to the report.

    Spending on data centre systems in India is projected to total $4.7 billion in 2025, fuelled by the rising enterprise need for new infrastructure to support AI integration.



    Source link

  • SIFC key to economic stability, says IT minister | The Express Tribune

    SIFC key to economic stability, says IT minister | The Express Tribune



    ISLAMABAD:

    Caretaker Federal Minister for Information Technology and Telecommunication, Dr Saif Umar, stated on Saturday that the Special Investment Facilitation Council (SIFC) functions as an effective platform for ensuring economic stability and making timely decisions in the public interest. In a video statement, Umar highlighted, “SIFC is instrumental in paving the way for digital transformation and attracting foreign direct investment in Pakistan.”

    He underscored that crucial decisions, beneficial to the masses, are being made through the SIFC forum in Information and Communication Technology (ICT). The minister expressed confidence that these initiatives would contribute to the rapid development and stability of the country’s economy.

    The minister further explained, “All stakeholders, including the military and political leadership, are present in the SIFC forum, which makes decision-making very easy.” He added, “We are confident that with the presence of the SIFC, the upcoming government will also be able to make timely decisions for the country’s development and public interests. Instead of unnecessary delay tactics, quick and effective decisions have to be taken in the interest of the country and the nation, for this purpose SIFC is the most effective forum.”

    The minister noted that since 2014, the case of hundreds of MHz of spectrum with Sun TV was pending. The matter was raised at the SIFC forum, and all the required legal requirements were met. The Sindh High Court then heard the case daily, and the verdict of the case was pronounced on Thursday.

    Read Govt to offer interest-free loans for establishing 5,000 E-Working Centers: IT minister

    Umar said, “It is good news for the people that now this spectrum will be in government custody, which is worth multi-million dollars as per the current market rate of the spectrum.”

    He also mentioned that the SIFC Forum played a key role in the preparation of the country’s first space policy and its approval from the relevant forums. Similarly, negotiations with Starlink have entered the final stages, and satellite internet will be available to the public very soon.

    Published in The Express Tribune, December 17th, 2023.

    Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

     





    Source link

  • Pakistan termed emerging digital hub in region | The Express Tribune

    Pakistan termed emerging digital hub in region | The Express Tribune



    ISLAMABAD:

    Caretaker Federal Minister for Information Technology and Telecommunication Dr Umar Saif has called Pakistan an emerging digital hub of the region where 30,000 IT companies are working and more than 75,000 IT students are graduating every year.

    Speaking at the Pak-Qatar IT Conference in Doha, the minister pointed out that Qatar was home to abundant Pakistani knowledge workers and urged Pakistani IT companies to leverage the resourceful diaspora to establish a foothold in the Qatari market.

    The IT conference, a collaborative effort involving Pakistan’s Ministry of IT and Telecom, the embassy of Pakistan in Qatar and Pakistan-Qatar Business Council with support from the Qatar Financial Centre, featured speakers from public and private sectors along with representatives of IT companies.

    Read: Abundant opportunities in IT sector: minister

    Highlighting Pakistan’s wealth of talent and success stories in innovation and entrepreneurship, Saif saw the potential for Pakistani businesses to provide technological solutions and collaborate with Qatar, particularly in fields like artificial intelligence and cybersecurity.

    “Forging a common, secure platform that enables professionals from both nations to share knowledge, expertise and technological advancements can propel both countries’ tech ecosystem to new heights,” he remarked.

    Talking about Qatar’s forward-looking vision in expanding its knowledge economy, the minister underscored the potential for Pakistani businesses to not only offer tech solutions but also collaborate in global ventures.

    He noted that Qatar had taken a big leap in establishing data centres by bringing Microsoft Azure Cloud, adding that Pakistan had a lot of capability in cloud management, data centre operations and cloud applications.

    Published in The Express Tribune, December 5th, 2023.

    Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

     





    Source link

  • Comviva penalised Rs 1 lakh for delay in transferring CSR funds to PM Relief Fund – Times of India

    Comviva penalised Rs 1 lakh for delay in transferring CSR funds to PM Relief Fund – Times of India



    NEW DELHI: IT company Tech Mahindra Group firm Comviva has been penalised Rs 1 lakh for the delay in transferring unspent corporate social responsibility obligation to the Prime Minister’s National Relief Fund, as per a regulatory filing. The Ministry of Corporate Affairs’ Regional Director for the Northern Region has ruled against an appeal filed by Comviva against the order of the Registrar of Companies, which imposed a penalty of Rs 1 lakh on the company for the delay.
    According to the filing, there was an inadvertent delay due to technical reasons in the transfer of the amount unspent in relation to the Corporate Social Responsibility (CSR) obligation for the FY ended March 31, 2021, to the Prime Minister’s National Relief Fund within the prescribed period of 6 months of the expiry of the financial year as per the Companies Act, 2013.
    “Penalty of Rs 1,00,000 has been imposed on Comviva Technologies Limited (Comviva) in connection with the appeal filed by Comviva before Hon’ble Regional Director, Northern Region, against the adjudication order of the Registrar of Companies, NCT Delhi and Haryana dated May 17, 2023,” Tech Mahindra said in a filing on Saturday.
    Comviva is in the process of depositing the penalty amount with the Ministry of Corporate Affairs, the filing said.





    Source link

  • Following TCS and Infosys, Wipro Implements Big Changes In Hybrid Work Policy For All Employees

    Following TCS and Infosys, Wipro Implements Big Changes In Hybrid Work Policy For All Employees


    By clicking “Accept All Cookies”, you agree to the storing of cookies on your device and the processing of information obtained via those cookies (including about your preferences, device and online activity) by us and our commercial partners to enhance site navigation, personalise ads, analyze site usage, and assist in our marketing efforts. More information can be found in our Cookies and Privacy Policy. You can amend your cookie settings to reject non-essential cookies by clicking Cookie Settings below.

    Manage Consent Preferences



    Source link

  • ‘Freelancers can generate $10b in tech exports’ | The Express Tribune

    ‘Freelancers can generate $10b in tech exports’ | The Express Tribune



    KARACHI:

    In a bid to transform Pakistan into a thriving tech export hub, the Caretaker Federal IT and Telecommunication Minister, Dr Umar Saif, is spearheading an ambitious plan aimed at generating $10 billion in annual tech exports. The strategy hinges on enabling one million freelancers to earn $30 each daily, with the government providing the necessary funding and co-working spaces within the next two to three months.

    In addition to this ambitious initiative, Pakistan is also in talks with the renowned digital payment platform, PayPal, with expectations of a positive response in approximately one month, which would facilitate the connection of PayPal with Pakistan’s banking system. This connection would streamline export proceeds for IT professionals and others.

    Furthermore, the interim government has set an aggressive target to launch advanced mobile internet 5G within eight months, potentially by June-July 2024. Government officials are diligently working on this project and anticipate finalising preparations for the 5G auction process, which will be continued by the newly elected government.

    These announcements were made by Saif during an event at Habib Bank Limited (HBL) where a memorandum of understanding (MoU) was signed between HBL and the Pakistan Software Houses Association (P@SHA). This multi-year partnership is focused on positioning Pakistan as a global tech destination, recognising the IT industry as a key driver of economic growth and job creation.

    Read Pakistani fintech eyes UAE market

    Saif revealed that the government has allocated nearly Rs2 billion to establish the Pakistan Startup Fund, and they have secured agreements with venture capitalists to contribute an additional Rs8 billion through Series ‘A’ financing. Moreover, co-working spaces will be created to accommodate around half a million IT freelancers.

    The realisation of these initiatives is slated for the next two to three months, aiming to empower one million freelancers to earn $30 per day.

    Pakistan’s current IT exports stand at approximately $2.5 billion annually, but the actual figure could range between $3.5-4.5 billion annually. The disparity arises from many companies repatriating a substantial portion of their earnings outside the country. This gap is expected to narrow after recent government measures allowed IT professionals and freelancers to retain up to 50% of their earnings in foreign currency accounts within Pakistan, up from the previous limit of 35%.

    Saif explained, “If a venture capital firm engages with the Pakistan Startup Fund (PSF), they would only need to invest $800,000 (80% of the total project cost), while the remaining $200,000 in grant equity-free funding would be provided by the government through PSF. This setup allows a 20% risk underwriting or potential upside for venture deals.” He emphasised the growing presence of venture capital in Pakistan, with various domestic and international funds already committing investments.

    Saif pointed out that Pakistan has 1.5 million freelancers who have received government training over the years. However, a majority of them lack the resources to purchase a computer worth Rs300,000 or establish their own offices. To address this issue, the government plans to create private-sector co-working spaces, requiring a Rs50 billion investment, for half a million freelancers. The IT minister reaffirmed that the necessary funds have already been allocated for this endeavour.

    He noted, “Now, half a million freelancers in the private sector, and another half million in the public sector, each earning $30 a day. While it is ambitious, let’s assume $30 a day. That totals $10 billion a year, equivalent to one-third of Pakistan’s entire annual exports, valued at $30 billion.”

    Deputy Governor of the State Bank of Pakistan (SBP), Saleem Ullah, emphasised that IT developments in the country have the potential to be a game-changer for economic growth. He highlighted the significance of the IT sector in boosting Pakistan’s balance of payments. He also encouraged IT companies to reduce their imports of IT products to help curb the import bill.

     

    Published in The Express Tribune, October 27th, 2023.

    Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.





    Source link

  • Rules notified to counter cyber attacks | The Express Tribune

    Rules notified to counter cyber attacks | The Express Tribune



    ISLAMABAD:

    The Ministry of Information Technology and Telecommunication (MoITT) on Thursday notified the Computer Emergency Response Team (CERT) Rules 2023, which would help counter cyber attacks against government data.

    In his message on X (formerly Twitter), Federal Minister for IT and Telecom Dr Umar Saif said that Pakistan needed to protect its cyber space against attacks.

    “Today, we have taken the first step by establishing the national CERT for Pakistan; the national CERT and subsequent sector-specific CERTs will provide the institutional framework and capability to protect Pakistan’s cyber space and ensure swift responses in case of cyber attacks.”

    Later in a statement, Saif said that the coordinated approach would ensure a robust defence against cyber threat.

    He said that, as part of the new rules, the National Security Operations Centre would also be established to facilitate the practical implementation of the regulations.

    Under the CERT Rules, both national and sector-level CERTs will be established and they will be responsible for monitoring and safeguarding Pakistan’s cyberspace round the clock.

    According to the rules, the national CERT, funded by the Ministry of IT, will maintain close coordination with various sector-level CERT teams and will provide timely assistance, when needed.

    The primary responsibility of the national CERT will be to coordinate with different CERTs to respond to threats or attacks on any systems or critical infrastructure or widespread attacks on information systems in Pakistan.

    The government CERT will be responsible for ensuring cyber security and will handle matters related to the public sector at federal and provincial levels.

    Published in The Express Tribune, October 13th, 2023.

    Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.





    Source link

  • Indian IT staring at anaemic hiring – Times of India

    Indian IT staring at anaemic hiring – Times of India



    BENGALURU: Accenture merely added 951 people in the fourth quarter and for the 2023 fiscal, its headcount dropped by 4,900.
    Accenture’s muted net addition might have a rub-off effect on Indian IT with the September quarter earnings season beginning next week. A weak demand scenario could trigger a hiring degrowth for some of the Indian IT companies until discretionary spending picks up pace.
    TCS added a mere 523 employees in the June quarter, the only company among the top four with a net addition during the last quarter. The big four IT services companies combined had a reduction of nearly 18,000 people in the quarter ended June. Infosys, Wipro, and HCL had headcount declines of 6,940, 8,812 and 2,506 respectively.
    Pullback in discretionary spending, cost takeout programmes and longer decision-making cycles indicate anaemic hiring across Indian IT companies is here to stay for a while.
    Ramkumar Ramamoorthy, partner at growth advisory firm in Catalincs, said, “With continued weakness in discretionary spending, large cost take-out deals coming in with built-in productivity commitments, attrition coming down sharply, and employee utilization going up quite nicely, net new hiring in the IT sector is bound to be anaemic until we see some green shoots.”
    Ramamoorthy said, in addition to impacting hiring of experienced professionals, this weak demand environment will materially impact hiring from Stem campuses. “We are already seeing signs of some large companies staying away from campuses, delaying onboarding as well as recalibrating their short- and medium-term hiring and training plans.”
    Mrinal Rai, assistant director and principal analyst in global tech research and advisory firm ISG, said, “According to the last ISG Index, in the first half of 2023, we witnessed a significant slowdown in hiring, where annualized attrition although declining since mid-2022, has risen again in 2Q23. We are beginning to see enterprise concerns around resource availability and attrition. There is also a decline in the clients’ customer experience with providers’ ability to hire resources and provide agreed resources compared to last year.”
    Phil Fersht, CEO of HfS Research, said, “This year, we have seen a decline in IT spending from 11% growth in 2022 to barely 3% this year, which is reflected in the lower revenue growth numbers from most of the IT services majors. In addition, all these firms overhired in 2021-2022 in anticipation of further growth this year, which has not materialized, and there is a big emphasis from most service providers to utilize their current workforces and make some minor adjustments to keep costs under control.”
    Increased decoupling of revenue and headcount has led to productivity gains leveraging automation solutions. Hansa Iyengar, senior principal analyst in London-based Omdia said, “We need to stop judging the performance or strength of IT services companies using headcount. Gone are the days when adding headcount meant the company had a good pipeline. Increased automation – and now the increasing use of genAI tools – is making the workforce more productive by automating mundane tasks. This drives efficiencies and offers cost savings that can be passed on to the customer – and isn’t that what every organization wants– to do more with less money! This means that the reliance on junior resources is reducing and that will reflect on hiring even more in the coming years.





    Source link

  • Saudi Arabia to establish special desk to facilitate tech firm registration process for Pakistan – minister – SUCH TV

    Saudi Arabia to establish special desk to facilitate tech firm registration process for Pakistan – minister – SUCH TV



    Saudi Arabia is set to create a dedicated desk to streamline the registration of Pakistani IT companies seeking to establish themselves in the Kingdom, announced Pakistan’s caretaker IT Minister Umar Saif on Sunday.

    This development coincided with the signing of a memorandum of understanding in Riyadh between the two nations to bolster bilateral cooperation in information technology.

    According to a statement by the Pakistan Embassy in Riyadh, the agreement focuses on accelerating digital transformation, fostering innovation and advancing digital infrastructure.

    The MOU, signed by the Saudi Minister of Communication and Information Technology Abdullah Al-Swaha, stated that both countries will encourage small and medium-sized enterprises and startup ecosystems.

    They plan to collaborate on initiatives related to the transfer of businesses and the exchange of information on accelerators and incubators for emerging technology.

    On an official visit to the Kingdom, the Pakistani minister held meetings with several high-profile officials.

    “We’re looking at opportunities for our startups to come here and raise investments from Saudi investors. These startups have raised over $800 million in just the last two years and are now at a point where they’re about to take off. I think each of these startups has the potential to become a billion-dollar company,” Saif told Arab News.

    He announced his “incredibly productive meeting” with Saudi Minister of Investment Khalid Al-Falih on social media platform X.

    “He (Al-Falih) has instructed (the Ministry of Investment) to establish a special desk for Pakistani IT companies to get registered in KSA (Kingdom of Saudi Arabia) and to grant (them) licenses to operate in KSA,” said Saif.

    The Pakistani minister added: “I think there are huge opportunities for investment in Pakistan. We met with a lot of investors today (Sunday) and could meet with a few more with the PIF (Public Investment Fund) and STC to explore how they could come and be part of the telecom infrastructure, connectivity and payment systems in Pakistan.”

    Furthermore, Saif mentioned that the Saudi minister of communication tasked him with identifying the top 100 Pakistani talents globally — individuals potentially poised to win Nobel Prizes and establish billion-dollar companies.

    “There is certainly a commitment to now forge these partnerships and relationships beyond the call of duty,” said the Pakistani minister.

    Furthermore, he emphasized the significance of chip manufacturing, which involves producing semiconductor chips in various electronic devices. This area of interest is mutually vital for both countries.

    “The Kingdom has put together a lot of resources and facilities for the fabrication of semiconductors. We can do it, but we don’t have the resources. However, we certainly have the technical expertise to collaborate on this,” he said.

    The minister concluded the interview by highlighting Pakistan’s substantial lithium reserves, recognizing their potential for lithium-ion battery production, which could play a crucial role in future sustainable energy solutions.

    “We don’t have the resources to put our facilities to convert our lithium reserves into lithium-ion batteries and products,” he commented, adding that this is “an area in which there could be deep collaboration between the two countries.”

    According to the embassy’s statement, the two nations will collaborate to explore how entrepreneurs and businesses can harness technology investments and venture capital.

    Their primary objective is strengthening their digital economy connections by assessing and certifying companies for collaborative opportunities within their information and communication technology markets.

    Furthermore, the agreement will facilitate cooperation in e-governance, smart infrastructure, e-health, e-education and emerging technologies such as artificial intelligence, robotics and blockchain.

    Both countries will enhance their digital infrastructure, including fiber optic networks, data centers and cloud computing resources.

    The agreement also encourages engagement in each other’s international events and fosters information exchange between their public and private sector entities involved in IT development and electronics.



    Source link

  • Around 30 out of 40 applicants may qualify for Rs 17,000 crore production-linked incentive for IT hardware – Times of India

    Around 30 out of 40 applicants may qualify for Rs 17,000 crore production-linked incentive for IT hardware – Times of India



    NEW DELHI: Around 30 out of 40 applicants are expected to qualify for Rs 17,000-crore production linked incentive scheme for IT hardware, according to a government official.
    As many as 40 companies, including Dell, HP, and Lenovo, have applied for the IT hardware PLI (production linked incentive) scheme with a commitment to make personal computers, laptops, tablets, servers and other equipment worth Rs 4.65 lakh crore during the scheme period.
    “Around 30-32 company may qualify for the (IT hardware PLI) scheme. Some are looking ineligible for the scheme due to financial issues and organisation structure issues,” the official, who did not wish to be named, said.
    Against the budgetary allocation of Rs 17,000 crore for the scheme, applicants have projected the incentives to the tune of Rs 22,890 crore.
    The official said that the selected companies will get incentives well within the fund allocated for the scheme.
    Major IT hardware companies like Dell and HP are participating directly in the programme, while other significant players such as HPE, Lenovo, Acer, ASUS, and Thomson are taking part through Electronic Manufacturing Service (EMS) companies with manufacturing facilities in India, such as Flextronics and Rising Star.
    Apple’s supplier Foxconn has also submitted an application for incentives through one of its subsidiaries. Among the domestic firms applying for the scheme are Padget (Dixon), VVDN, Netweb, Syrma, Optiemus, Sahasra, Neolync, Panache, Sojo (Lava), and Kaynes Technologies.
    The scheme is expected to generate direct employment for 75,000 professionals in electronic manufacturing and draw an incremental investment of Rs 5,000 crore.
    According to the official, the list of eligible companies is likely to be released by September end or in early October.
    When asked about the status of restriction on import of IT hardware, the official said that norms will be effective from November 1 and imports will be allowed through authorisation.
    The official said that in the first year almost everyone will be allowed to continue their import business as usual and reduction in the import quota will start after September 2024.
    In the meantime all the companies have been asked to submit their import data of the last three years and the destination from where they import the devices.
    “Our intent is to get devices only from trusted sources,” the official said.





    Source link