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Troubles mount for IT majors as clients seek more bang for buck

Analysts said several clients have asked Indian IT majors to cut rates and commit to costs savings upfront.

jobs modi government

Nov 15, 2019, 12.44 PM IST



Market Movers: What changed for D-Street while you were sleeping

RCom, Tata Teleservices (Maharashtra), Sanwaria Consumer, IL&FS Engineering and Vadilal Industries will be among companies that will disclose quarterly results on Thursday.

ET View: Supreme Court gives fair warning to ‘UFO’ conspiracy theorists in Rafale case

Thursday’s judgment not only gives the Modi government...

Many lose jobs, migrate due to internet shutdown in Kashmir

The Internet shutdown since August 5--when special status of the J&K was revoked ...

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  • The Supreme Court on Thursday gave a clean chit to the Narendra Modi government in the Rafale fighter jets deal case, saying review petitions were without merit. The court rejected pleas which had sought re-examination of the December 14, 2018 verdict which said there was no occasion to doubt the decision-making process in the procurement of 36 Rafale fighter jets.

    In a series of tweets on the occasion of the 550th birth anniversary of Guru Nanak Dev, Amit Shah said inauguration of the Kartarpur corridor, connecting Dera Baba Nanak in India with Darbar Sahib Kartarpur gurudwara in Pakistan, by Prime Minister Narendra Modi is a true tribute to the Guru.

    The Code was introduced in the Lok Sabha on July 23, 2019. It is expected to enhance the coverage of workers manifold and also merge 13 central labour laws into a single code which would apply to all establishments employing 10 or more workers.

    At Rs 82,575 crore so far in 2019, foreign funds have sent in the maximum amount of money since the Modi era began in May 2014. FPIs infused Rs 97,350 crore in domestic equities in 2014. However, about Rs 41,000 crore came in between January and May, while Modi took oath on May 26, 2014. Between 2015 and 2018, the total FPI inflow into equities was Rs 57,656 crore.

    PM Modi said the grouping of five countries had led to economic development despite the global economic slowdown. Noting that India has "limitless" possibilities and "countless" opportunities, the PM urged the BRICS business leaders to take advantage of them. "I invite the business of BRICS countries to build and grow their presence in India," he said.

    Cognizant, in a statement, said: “Cognizant recently terminated this employee of approximately five months tenure with the company for performance reasons and based on client feedback. Our decision is consistent with the terms of our contracts with all of our employees.” Recently, Cognizant had announced that it would cut thousands of jobs.

    Modi clearly prefers an incremental approach to reform, one that lessens the chances of a backlash. While helpful, though, these measures by themselves aren’t strong enough to revive the animal spirits of investors. India’s problems are simply too deep. The dividends from the limited reforms carried out in the 1990s and early 2000s have dwindled.

    Representatives of Shiv Sena and NCP-Congress have prepared a common minimum programme amid clear indications that Congress was positively considering the Sena/NCP request to join the government.

    CII has suggested government set up common facilities for establishments in a locality to avail on cost basis. Besides, it has suggested labour ministry revisit the penalties proposed for contraventions so that the focus is on compliance and deterrence. The industry body has sent its recommendations to the standing committee on labour.

    Considering India’s growing stature, RCEP members can’t afford to ignore India for long, writes Amit Shah.

    The letter was written after govt officials expressed displeasure over the tone and tenor of Read’s comments.

    The apex court's rejection on all objections on the three aspects of the deal - decision-making, pricing and the India offset partner - ratifies the right and the mandate of a government to take decisions effecting national security with different degrees of scrutiny.

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