Amid widespread concerns over impending policies of Donald Trump, who is set to take charge as US President tomorrow, Nasscom is planning a visit to the US in the next few weeks to reach out to American policymakers and lawmakers.
Cyber security in India may face increased threats as digital connectivity enhances following demonetization of Rs 500 and Rs 1000 notes, said BVR Mohan Reddy, former Nasscom chairman. "With the increase in digital connectivity and with demonetization, cyber security becomes a crucial element for India," a statement quoting Reddy, also the Founder and Executive Chairman, Cyient Limited said today. "There is an existing requirement of 5 lakh cyber security professionals in India, which will grow in the coming years," Reddy said.
Regulator TRAI's suggestion of a government-funded scheme to provide 100 MB free data per month to rural consumers is "critical" in view of demonetization, and it can act as an effective mechanism for bridging digital divide, IT industry body Nasscom said today.
IT industry's representative body Nasscom said it signed an MoU with Georgia Tech Advanced Research Corporation (GTARC) in the US towards advancing Internet of Things (IoT) and fostering IoT-based innovation through the development of a conducive ecosystem in India. The MoU will see both Nasscom and GTARC cooperating to address technological and non-technological challenges that surround the adoption of IoT technologies and creating an amiable environment for all organisations in the industry.
Industry body Nasscom has said it will work on creating awareness and provide training to people in under-served sections of key towns and cities to help them move towards cashless payment methods. Nasscom, in a letter, has sought support from NITI Aayog as well as ministries of IT and Telecom to identify and commit workforce from their organisations, who will train people around them on online payment methods.
In an effort to make India a global hub for cyber security-related requirements, the IT industry's representative body Nasscom and the Data Security Council of India (DSCI) launched a detailed roadmap for the next 10 years. Titled "Growing Cyber Security Industry, Roadmap for India," the report identifies Managed Security Service (MSS), Security and Vulnerability Management (SVM) and network security emerging as attractive opportunities globally.
The Indian IT industry would benefit in a big way due to the demonetization drive if it is able to adapt to changed scenario, Nasscom said. Nasscom Chairman C P Gurnani said the IT industry body wants to discuss with the Government on how it can contribute to achieving aims behind the drive in terms of solutions and applications. The biggest beneficiary of the demonetization drive is going to be the Indian IT industry if it is able to adapt itself to the solutions that are required, he told reporters here on the sidelines of a conclave on cyber security.
The Indian IT-BPM industry is poised to grow at 8-10 percent in the financial year 2017, demonstrating sustained growth despite global headwinds, IT industry's representative organization Nasscom said on Wednesday. Sharing its revised guidance as part of its mid-year performance review of the IT-BPM industry, Nasscom reiterated that the industry remains in a strong position as it charts the future growth path for itself. According to the guidance, India will continue to gain market share -- 7 percent of global software and IT services and 56 percent of global sourcing.
Government's decision to scrap Rs 500 and Rs 1,000 notes will accelerate the push towards electronic payments system, which currently has relatively little penetration in India, IT trade body Nasscom said today. "If most of the black money is brought into bank accounts or into the tax net, there will be far less reason to deal only in cash, and far more reasons to transact through electronic payments," Nasscom President R Chandrashekhar said.
IT industry body Nasscom said it is "fairly clear" that it will have to revise downwards its export revenue growth guidance of 10-12% for 2016-17 in view of muted second quarter results by major companies in the sector. "I had mentioned earlier that Nasscom would revisit the guidance post the Q2 results, and that we are fully aware of number of short-term factors which have significantly impacted the industry," Nasscom president R Chandrashekhar said.
India has emerged as the third largest start-up base and such ventures are poised to grow 2.2 times to reach 10,500 by 2020 despite a perception that the ecosystem in the country has slowed down in the last year, says a report. India is in the third position just behind US and UK, and nearly 1,400 new startups are expected by end of 2016, up by 8-10 percent from last year, revealed the "Indian Startup Ecosystem Maturing - 2016" report by Nasscom-ZINNOV. The report also finds that Bengaluru, NCR, and Mumbai continue to lead as the major startup hubs in the country.
According to R Chandrasekhar, President of apex IT body Nasscom, the industrial applications of Internet of Things (IoT), primarily in manufacturing, automotive and transportation and logistics, are expected to drive IoT revenues by 2020 in India. Chandrasekhar was speaking on the sidelines of the eighth edition of "Nasscom Design and Engineering Summit" in collaboration with Deloitte. The Indian Internet of Things market is expected to grow to $15 billion with 2.7 billion units by 2020 from the current $5.6 billion and 200 million connected units, a report said.
As many as 10 Indian startups will take part in Japan s largest IT forum Combined Exhibition of Advanced Technology (CEATEC) this week. The conference will be be held on October 4 and is facilitated by Japan s Ministry of Economy, Trade and Industry (METI).
According to industry veteran T V Mohandas Pai, the revenue growth of Indian IT exports this fiscal is likely to be slower than what industry body Nasscom projected. Nasscom s projection of Indian IT exports were 10 to 12 percent. This is in contrary to what T V Mohandas Pai has to say as his prediction of the revenue forecast is around 9 to 10 percent and he also termed it as reasonable. A clear picture would emerge after companies announce results for the September quarter, which is generally good for them.
Industry body Nasscom, says that the margins of Indian IT companies are under pressure due to reasons like global economic turbulence while there may be a marginal decline in hiring because of increased automation and efficiency. "Companies are quite upbeat about the revenues and prospects, notwithstanding headwinds in different places for different reasons."
Even as some large Indian IT companies have posted lower-than-expected June quarter numbers and issued muted sales outlook, Nasscom said that it sees no reason to cut industry's full year growth forecast of 10-12 percent. Nasscom President R Chandrashekhar said that from an industry standpoint, the growth continues to be uniformly distributed and there is no reduction in demand for the IT services.
Aiming to bridge employability gaps within the industry, Nasscom has partnered with 3D design technology firm Autodesk to make a new standardized courseware for product design engineers, to enhance skilling in this field, a statement said here on Thursday. "This courseware will empower students in India with the required competencies at the entry level within the larger occupation of product engineering design in the engineering research and development (ERD) sub-sector of the industry. This courseware will help create a skilled talent pool, trained on global standards, with the ability to usher in a design-led future of making things, the statement said.
Indian entrepreneurship propeller Nasscom 10000 Startups has teamed up with IvyCamp in a strategic alliance to build an Internet of Things (IoT) entrepreneurship ecosystem. "With this collaboration with IvyCamp, we aim to promote an IoT ecosystem, which is vibrant and at the same time innovative, which will help our country attain a leadership role in this field," said Nasscom 10000 Startups vice president Rajat Tandon in a statement.
The trade body of Indian IT firms Nasscom has signed an MoU with Facebook to build a product design initiative to engage the country s young entrepreneurs into becoming problem solvers and solution builders. Signed in Silicon Valley this week, the Nasscom-Facebook initiative is likely to propel innovative thinking and approaches to build solutions in key sectors where technology can play a transformational role, Nasscom President R Chandrashekhar said.
Indian IT industry trade body Nasscom on Thursday said it has partnered with social media major Facebook to build a 'product design initiative' aimed at promoting product design ecosystem in the country. "Design thinking, methodologies and tools enable solutions for complex and challenging issues and help re-imagine systems. With this initiative, Nasscom plans to scale up the focus on product design and engage the young entrepreneurs into becoming problem solvers and solution builders," said a Nasscom president R. Chandrasekhar in a statement.