Information Technology – Current Events in India
In a few brief decades of human history, information technology has permeated every corner of the world and every facet of the human experience. Nowhere is this phenomenon more marked than in India. India’s high availability of technically trained workers, who are also multilingual, make it extremely competitive on the world economic stage. I TechnologyUnfolded ndian Institutes of Technology are recognized for their excellence on an international scale. The Information Technology sector in India is mostly taken up by software and and services like, system integration, application development and maintenance or CADM, consulting, software testing, and internet services. Companies like Wal-Mart, Intel, Cisco, Oracle and Dell are continuing to look to India’s Information Technology organizations to provide technology services.
Recent economic downturns have affected India, not unlike other parts of the globe. However, recent events make an early recovery in India’s information technology companies, promising. India’s largest exporter of computer software, Tata Consultancy Services, Ltd. reports a 29% increase in second quarter 2009 profits. While the profits are attributed to both new orders and cost control decisions, it is not the only firm to report results that were better than anticipated. Infosys, as well is reporting an upswing. Overall, third quarter results are up around 16 billion rupees, as compared to last year’s 13 billion during the same time period. TCS plans to add 8000 employees to its rolls to meet the anticipated increased demands in the coming year. In other developments, India’s Polaris Software Lab Ltd. has agreed to purchase Laser Soft Infosystems Ltd. Laser Soft provides information technology services in the banking industry. The purchase, for approximately 520 million rupees will add 600 people to Polaris’ 9,000 and 40 financial institutions to Polaris’ holdings. The banking technology market is predicted to experience continued near-term growth. Payment processing and other banking infrastructure and transaction systems are anticipated to lead the momentum as worldwide economic recovery continues to unfold.
Shifting technology support and consultancy services to India has proven to be a significant source of cost control for many of the world’s technology companies. Mergers and acquisitions by organizations such as NASDAQ listed Cognizant with UBS India Service Centre put the world on notice that information technology resources in India are desirable assets to acquire. One such jewel in India’s crown, Proteans has recently been named to Software Magazine’s Software 500 list. Inclusion on this list puts Proteans on a preferred list of business partners for the world’s large corporations.