From the results of two big IT service providers, namely HCL Technologies and Infosys, it is clear that Strategic Outsourcing (SO) is dying a natural death, believes Greyhound Research.
Flipkart, India’s largest online retailer, has shelved controversial plans to offer free access to its mobile app under a deal with Bharti Airtel.
“Start-ups” and “entrepreneurship” have definitely been the buzzwords in the Narendra Modi government as these words have found special mentions in the last two consecutive budgets. Finance Minister Arun Jaitley has allocated 1,000 crore to establish a mechanism to be known as SETU (Self-Employment and Talent Utilisation).
The $146 billion Indian information technology (IT) industry found the right space of recognition in the Union Budget for 2015-16 with finance minister Arun Jaitley applauding the role played by over 3,000 start-ups, a segment which is expected to be next flag bearer of growth for the sector.
If the big idea of Budget 2014, announced on 10 July, was clearly start-ups, the Bharatiya Janata Party-led National Democratic Alliance government took it a step further by announcing on Saturday an allocation of Rs.1,000 crore to enable information technology (IT) start-ups, create additional funding avenues for small companies to raise money and, in turn, generate more employment.
Months after e-commerce major Flipkart raised $1.9 billion (about Rs 11,800 crore) in three rounds of funding in 2014, the Bengaluru-based company is again understood to be in talks to raise at least $500 million.