India’s IT and BPO industries together ($64 billion) account for 6% of the GDP, up from 1% a decade ago. In states where its presence is significant — like Karnataka, Tamil Nadu, Andhra Pradesh, Maharashtra and Delhi — its share in state GDP is much higher, at 14%. Revenues of these sectors will rise to $360-$375 billion by 2020, when it will account for 10% of Indian GDP, Nasscom president Som Mittal said on Wednesday.

The government is understood to have approved a proposal from Bangalore-based Wipro Ltd to enter the defence sector.

The Foreign Investment Promotion Board (FIPB) had given its nod to Wipro for designing, developing and manufacturing defence-related software and had further referred the matter for the Finance Minister's approval. The case assumes importance as even the FIPB was not clear whether approval from them is required for companies engaged in software activities to enter the defence sector.

Infosys Technologies said the cost from US plans to hike visa application fees on some technology firms operating in the United States would over time be passed on to customers as it was an industrywide issue.

The US House of Representatives is expected to vote on Tuesday on border security legislation, which also significantly raises visa application fees on a select group of companies that operate in the United States, including Infosys.

Expressing distress over US senator's remarks terming it a 'chop shop', India’s second largest software exporter Infosys has urged the government to take up the issue with American authorities.

"We are distressed. We are operating like any other corporate office in the US. We follow all rules… We want the India government to seriously take up the issue with the US," Mohan Das Pai, the human resources head of Infosys is quoted as saying in media reports.

Shimoga, the home town of chief minister BS Yeddyurappa and BJP state unit president KS Eshwarappa, is set to become a business process outsourcing (BPO) hub soon.

David Andrews, CEO of Xchanging, who is part of Cameron’s business delegation, signed the MoU with the state owned enterprise KEONICS managing director Harikumar Jha, to develop a special economic zone (SEZ) in Shimoga, in the presence of Yeddyurappa, on Wednesday, Jul 28.

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Infosys, which has set many records in the industry in the past, has come up with an unprecedented and innovative way of celebrating the company's 30th birthday - by gifting its employees shares of the company.

The birthday bonanza is set to make all the Infosians smile as they would all receive five shares of the company. In addition to this, each employee will be getting one share each for the number of years they have worked for the company.

IT giant, Infosys is partnering with a US institute to establish a research institution in Karnataka\'s capital and the IT hub of India, Bangalore.

With its partnership with Georgia Institute of Technology, Infosys aims at setting up centres for excellence in information technology and information systems, energy systems, biotechnology and infrastructure studies here.

Infosys Technologies ruled out the acquisition of a large European outsourcing rival like Logica, and said the company would instead look for smaller, back office and consulting firms in Germany and France that are around 10% of the company’s revenues or up to $500 million in revenues.

“When we are forecasting 16-18% growth, why would I go and acquire a turnaround story?” asked Senapathy S Gopalakrishnan, chief executive officer and managing director of Infosys. “The reason why it’s (rumours) coming too often is because these companies are not doing well,” he added.

As many as 55 companies have proposed to invest over Rs 12,353 crore in Karnataka, India\'s knowledge hub and a favourite destination of IT and biotechnology (BT) sectors.

"We have received investment proposals worth Rs 11,000 crore from IT firms and Rs 1,353 crore from biotech firms. Among them are Infosys, Wirpo, TCS and Tata Elxsi,\" state IT and BT minister K Subramanya Naidu told reporters here on Tuesday.

Infosys Technologies’ head of global sales Subash Dhar has reconfirmed his rising star status, topping the salary hike chart for the second consecutive year. His overall remuneration rose 36% to Rs 1.73 crore. Dhar is a member of the company’s executive council. Aided partly by deferred payments, his salary had risen over 100% in the previous year.

Leading software firm Infosys, living up to its reputation of being a dream employer, got over four lakh job applications last fiscal and had to reject a whopping 94 per cent of them.

But, about 28 per cent of the successful candidates, who were made job offers, did not join during the year.

Infosys Technologies is well on its way towards achieving its target of 30,000 hires this year, and the company would also be despatching letters to its employees on compensation hikes in the coming month, CEO S. Gopalakrishnan said on Tuesday.

Speaking on the sidelines of Culturati, an event organised in connection with the World Day for Cultural Diversity for Dialogue and Development, he said the company was also looking at building additional infrastructure in Bangalore though the plans were not yet concrete. The situation was “back to normal,” he said. Noting that the company had recorded sequential growth of 6-7 per cent in the last few months, he said, however, that the situation in Europe was a “cause for concern.”

Karnataka government today approved 60 new industrial projects involving an investment of Rs 58517.7 crore including two projects of Infosys Technologies Limited and one of Wipro Limited. Industries Minister Murgesh Nirani said Two software development centre projects of Infosys Technologies Limited, one on 350 acres in Sarjapur Road and another on 40 acres in Devanahalli Industrial Area in Bangalore Rural district with investment of Rs 2960 crore, employing 30,000 people in all, have been approved, Industries Minister Murgesh Nirani said.

Indian analysts are sceptical about deal-averse Infy making such a bulge-bracket acquisition.

UK-based technology services major Logica has been linked to a potential bid from Indian firms for sometime now. On Friday, the Daily Mail reported that India's tech bellwether Infosys Technologies Ltd may be priming a bid for Logica at a whopping 2.9 billion pounds (approx $4.16 billion).

MindTree Ltd. (NSE: MINDTREE), today announced that it will unveil the largest portfolio of ready-to-brand video surveillance solutions at IFSEC 2010, in Birmingham, UK on 10th May 2010. MindTree's portfolio of ready-to-brand solutions consists of a surveillance manager, a suite of video analytics solutions, a video encoder, video decoder and digital video recorder. The portfolio also includes a licensable Open Network Video Interface Forum (ONVIF) Network Transmitter Agent (NVT) and ONVIF Network Video Client (NVC).

MindTree's portfolio of ready-to-brand video surveillance solutions will allow OEMs, System Integrators and Distributors to enrich their existing solution portfolio and carry these solutions to market under their own brand. MindTree's ready-to- brand intelligent video surveillance solutions can be licensed independently or in combination. The price / performance ratio for each solution is extremely attractive, and the solutions can be easily customized or enhanced to meet the specific needs of the licensee.

IT giants Infosys, TCS and Wipro hired over 20,000 employees in the January-March quarter, with improving business conditions propelling their recruitment plans.

According to human resources experts, IT and IT-enabled services are expected to see a huge jump in hiring this year and major companies in the sector have already set the pace.

IT giant Wipro has reported a 21 per cent surge in its net profit during the forth quarter (Q4) of the last fiscal.

India's thrid largest software services exporter's Q4 net profit came up at Rs 12.09 billion (Rs 1209 crore) accounting for a 20.77 per cent growth in consolidated net profit as against Rs 10.01 billion reported in the corresponding period of the previous year.

To insulate itself against currency volatility, India’s second largest software firm by revenue Infosys Technologies Ltd is convincing at least some clients to bear a portion of the risk.

“We have signed (such agreements with a) few clients. (But) not every client agrees to that,” said V. Balakrishnan, chief financial officer at Infosys. “It will work both ways. If the rupee appreciates they pay, when it depreciates, we bear the cost.”

Infospace is the Indian subsidiary of Nasdaq-listed Infospace Inc and develops meta search and online consumer products.

Aditi Technologies, a Bangalore-based company offering software products and application development services, is acquiring Infospace India Software Development Pvt Ltd for an undisclosed sum.

Indian IT major, Infosys Technologies Ltd is planning to recruit 30,000 people for the current financial year.

Speaking to reporters, Infosys COO, SD Shibulal said, "During FY11, we plan to recruit 30,000 people. Last year, we started with 18,000 and ended up with 27,000."

Infosys Technolgies on Tuesday, Apr 13, reported a 0.25 percent growth in the net profit at Rs 1,617 crore during the fourth quarter ended Mar 31, 2010.

The company in a filing to the Bombay Stock Exchange said, Infosys had a net profit of Rs 1,613 crore in the Mar quarter of the previous fiscal (2008-09).

Mindtree Wireless, formerly Kyocera Wireless, which was acquired by the IT firm, is a profit-making entity.

Walden International and Nalanda Capital backed software services firm MindTree is merging a wholly owned subsidiary MindTree Wireless Private Limited (formerly Kyocera Wireless (India) Private Limited) with itself for better operational efficiency.

Inaugurating a new global delivery centre in Curitiba, the Bangalore-based IT behemoth Wipro extended its global footprint in Brazil.

Mayor of Curitiba, Beto Richa, and the Consul General of India in Brazil Jeitendra K Tripathi inaugurated the new centre taking the company's four-year long operations in the country to the next stage.

For over a decade, Infosys has been seen by many as the epitome of employee friendliness. That reputation has now taken a big knock. Several measures taken over the past few months - partly an attempt to correct what the company saw as excesses of previous years - has had many employees seething with anger.

That's reflected in hundreds of comments made in response to articles about Infosys on the internet in recent weeks, and in conversations TOI had with employees. Even the official internal blog is said to have been used to convey the discontent.

Infosys has faced a high rate of attrition in February, says brokerage firm CLSA. Economic Times reports that at least 4,000 employees have left the Bangalore based IT firm in the month of February alone. Infy, however, has denied these claims. The company normally has an attrition rate of around 1,000 to 1,200 employees per month.

Head of HR at Infy has said that due to the improvement in the job scenario, the rate of attrition has gone up in the last three months, but it has not hit 4,000. The report by CLSA says that high attrition is a normal phenomenon in the IT field, and there is no cause for worry.

Human resources consultancy Hay Group has named IT major Infosys among the world's 20 best companies for leadership, evident from its continued focus on employee development even during the global slowdown.

The annual study by Hay Group, in partnership with Bloomberg BusinessWeek.Com, ranked the best companies for leadership globally and examined how those companies develop leaders.

Clearing the air about Obama's outburst against the companies outsourcing to India, Infosys Technologies said that the statement was not directed towards Indian companies.

Stating that Obama's anger was only aimed at US companies operating in multiple countries, Kris Gopalakrishnan, CEO and MD of Infosys said that Indian companies were not the target of Obama's stern words.

India’s second largest technology firm, Infosys, is putting a new premium on internal training as it looks to groom employees for leadership roles in its various ventures.

The company plans to increase its training budget by 24% next fiscal to $230 million, and has already hiked training time by 10 weeks to 29 weeks.

Wipro Ltd on Wednesday, Jan 20, reported a 21.26 pc growth in the net profit at Rs 1,217.4 crore during the third quarter ended Dec 31, 2009.

The company in a filing to the Bombay Stock Exchange said, "Total income rose to Rs 7,055.8 crore during the Dec quarter of FY'10 from Rs 6,773 crore in the same period previous fiscal."

The company's IT services business added 31 new clients during the quarter.

Infosys Technologies on Tuesday, Jan 12, reported a 3.6 per cent decline in consolidated net profit at Rs 1,582 crore for the third quarter ended Dec 31, 2009.

"Income from software services, products and business process management stood at Rs 5,741 crore during the quarter," Infosys said in a filing to the Bombay Stock Exchange.