Friday, February 27, 2004
Dollar smiles - the Indians doing nicely in Forbes billionaires list
BBC NEWS
Four Indians now feature in the top 100 wealthiest people in the world, according to the latest Forbes billionaires list. The 18th Forbes magazine list once again has Microsoft co-founder Bill Gates at the top, with a net worth of $46.6bn. Azim Premji, chairman of software company Wipro, continues to be the richest Indian. His net worth increased to $6.7bn this year, from $5.9bn in 2003, although he has fallen 13 places to No 58 overall.
The wealth of all of India's billionaires in this year's full list totals up to $31.9bn.
Four Indians now feature in the top 100 wealthiest people in the world, according to the latest Forbes billionaires list. The 18th Forbes magazine list once again has Microsoft co-founder Bill Gates at the top, with a net worth of $46.6bn. Azim Premji, chairman of software company Wipro, continues to be the richest Indian. His net worth increased to $6.7bn this year, from $5.9bn in 2003, although he has fallen 13 places to No 58 overall.
The wealth of all of India's billionaires in this year's full list totals up to $31.9bn.
Thursday, February 26, 2004
The dying monsters of kitsch
BBC NEWS
For over half a century, they dominated the skyline of India's cinema-crazy southern cities, dwarfing the buildings and the traffic below.
The gargantuan, hand-painted cinema posters were an integral part of the cityscape. They showcased scenes of usually rotund heroes and heroines.
Often the central character would be 'cut-out', as in the picture on the right here, giving them an eerie life-like two-dimensional character. But today these monsters of kitsch are dying. They are being replaced by glossy, digitally-produced billboards.
For over half a century, they dominated the skyline of India's cinema-crazy southern cities, dwarfing the buildings and the traffic below.
The gargantuan, hand-painted cinema posters were an integral part of the cityscape. They showcased scenes of usually rotund heroes and heroines.
Often the central character would be 'cut-out', as in the picture on the right here, giving them an eerie life-like two-dimensional character. But today these monsters of kitsch are dying. They are being replaced by glossy, digitally-produced billboards.
Monday, February 23, 2004
Sun co-founder defends offshoring
CNET News.com
India must use World Trade Organization agreements to stop election-year attacks on the now-unfettered growth of U.S. technology outsourcing, a key Silicon Valley venture capitalist asserts.
"It's important for India that IT services and outsourcing be part of the open trade, global trade paradigm,'' Indian-born Vinod Khosla said in an interview Sunday from Bangalore, the center of India's outsourcing boom.
India must use World Trade Organization agreements to stop election-year attacks on the now-unfettered growth of U.S. technology outsourcing, a key Silicon Valley venture capitalist asserts.
"It's important for India that IT services and outsourcing be part of the open trade, global trade paradigm,'' Indian-born Vinod Khosla said in an interview Sunday from Bangalore, the center of India's outsourcing boom.
India bets on election boom
BBC NEWS
After a tough few years, borne of droughts which ravaged the country's massive agricultural sector and confronted many of its billion-strong population with the risk of famine, things look to be on track.
The latest figures show economic growth to be topping 8%, a rate only matched by the powerhouse that is China.
After a tough few years, borne of droughts which ravaged the country's massive agricultural sector and confronted many of its billion-strong population with the risk of famine, things look to be on track.
The latest figures show economic growth to be topping 8%, a rate only matched by the powerhouse that is China.
Thursday, February 19, 2004
STMicro to double India headcount
Economic Times
Leading Europe-based chip maker, STMicroelectronics (STM), will invest $100 million in India over the next five years and more than double its staff, mainly engineers, to 3,000 by 2006.
The total workforce in India could go up to 5,000 by 2010, said STM president and CEO Pasquale Pistorio on Thursday at a press conference in Noida, where he inaugurated the company's second R&D facility.
Leading Europe-based chip maker, STMicroelectronics (STM), will invest $100 million in India over the next five years and more than double its staff, mainly engineers, to 3,000 by 2006.
The total workforce in India could go up to 5,000 by 2010, said STM president and CEO Pasquale Pistorio on Thursday at a press conference in Noida, where he inaugurated the company's second R&D facility.
Bank of America to hire 1,000 in India
The Economic Times
Bank of America Corp said on Wednesday it would set up a wholly owned subsidiary in India for its back-office operations and aimed to employ 1,000 people in the unit by the middle of 2005.
The bank, which has already outsourced a number of jobs to emerging markets, said it expected to set up Continuum Solutions Pvt Ltd in the southern city of Hyderabad in the second quarter of 2004.
Bank of America Corp said on Wednesday it would set up a wholly owned subsidiary in India for its back-office operations and aimed to employ 1,000 people in the unit by the middle of 2005.
The bank, which has already outsourced a number of jobs to emerging markets, said it expected to set up Continuum Solutions Pvt Ltd in the southern city of Hyderabad in the second quarter of 2004.
Tuesday, February 17, 2004
Telstra offshoring for 'quality'
Australian IT
TELSTRA outsourced IT jobs to low cost countries like India because of the quality of the companies there, a Senate committee heard.
Telstra's group managing director regulatory, corporate and human relations Bill Scales said the two Indian companies which would take on Telstra software work were of extremely high quality.
"We made it very clear that we were dealing with those companies because they were very good companies and not because they were located anywhere in particular," he said.
"It's not primarily (about) cost.
"There's a question of quality and in fact those two very high quality Indian companies having a quality structure only rarely seen in this country."
TELSTRA outsourced IT jobs to low cost countries like India because of the quality of the companies there, a Senate committee heard.
Telstra's group managing director regulatory, corporate and human relations Bill Scales said the two Indian companies which would take on Telstra software work were of extremely high quality.
"We made it very clear that we were dealing with those companies because they were very good companies and not because they were located anywhere in particular," he said.
"It's not primarily (about) cost.
"There's a question of quality and in fact those two very high quality Indian companies having a quality structure only rarely seen in this country."
London travel info's 'India move'
BBC NEWS
Union leaders have raised fears that the London Travel Information Centre could be relocated to India.
The Transport Salaried Staffs Association (TSSA) called for assurances the call centre would not be moved out of London.
Union leaders have raised fears that the London Travel Information Centre could be relocated to India.
The Transport Salaried Staffs Association (TSSA) called for assurances the call centre would not be moved out of London.
Lloyds TSB to move insurance jobs to India
Reuters
Lloyds TSB says it will hire 150 workers in India for its general insurance business as it tests the benefits of cheaper labour.
The bank will move 107 UK jobs to India from Bournemouth and Newport. It will also hire 43 Indian staff for work not already done in the UK.
None of the British workers will lose their jobs this year, a spokeswoman for the country's fifth-biggest bank said on Tuesday.
Lloyds TSB says it will hire 150 workers in India for its general insurance business as it tests the benefits of cheaper labour.
The bank will move 107 UK jobs to India from Bournemouth and Newport. It will also hire 43 Indian staff for work not already done in the UK.
None of the British workers will lose their jobs this year, a spokeswoman for the country's fifth-biggest bank said on Tuesday.
PeopleSoft to triple staff in India
ZDNet
PeopleSoft intends to add 1,000 workers to its staff in Bangalore, India, by the end of the year, accelerating the software maker's plan to tap the country's low-cost labor force.
The Pleasanton, Calif., company, which discussed the Bangalore expansion Tuesday, is among a growing number of high-technology outfits that are increasing the size of development and support staffs in India, China and other "offshore" locations. PeopleSoft, which employs more than 12,000 people worldwide, has about 400 workers in two Bangalore development centers, according to a PeopleSoft spokesman.
"The centers have played a significant role in enabling PeopleSoft to lead the way in lowering cost and improving our customers' total ownership experience," Ram Gupta, PeopleSoft executive vice president of products and technology, said in a statement. "Our accelerated ramp-up plan is a natural progression for us, in direct response to the high-quality, rapid output we are seeing from our centers in India and customer demand for high-quality, offshore implementation services."
PeopleSoft intends to add 1,000 workers to its staff in Bangalore, India, by the end of the year, accelerating the software maker's plan to tap the country's low-cost labor force.
The Pleasanton, Calif., company, which discussed the Bangalore expansion Tuesday, is among a growing number of high-technology outfits that are increasing the size of development and support staffs in India, China and other "offshore" locations. PeopleSoft, which employs more than 12,000 people worldwide, has about 400 workers in two Bangalore development centers, according to a PeopleSoft spokesman.
"The centers have played a significant role in enabling PeopleSoft to lead the way in lowering cost and improving our customers' total ownership experience," Ram Gupta, PeopleSoft executive vice president of products and technology, said in a statement. "Our accelerated ramp-up plan is a natural progression for us, in direct response to the high-quality, rapid output we are seeing from our centers in India and customer demand for high-quality, offshore implementation services."
Monday, February 16, 2004
Fishermen get space guides
BBC NEWS
Fishermen in the southern Indian state of Kerala are receiving a much-needed boost in their efforts to find dwindling shoals - from the country's space programme.
Fishermen in the southern Indian state of Kerala are receiving a much-needed boost in their efforts to find dwindling shoals - from the country's space programme.
Overseas Outsourcing: A Trend with No End?
NPR
A growing number of high-tech jobs are being outsourced to other countries. In this month's Wired magazine, writer Daniel Pink reports the move may be part of a long-term evolution in the American workforce. NPR's Bob Edwards talks with Pink.
A growing number of high-tech jobs are being outsourced to other countries. In this month's Wired magazine, writer Daniel Pink reports the move may be part of a long-term evolution in the American workforce. NPR's Bob Edwards talks with Pink.
Thursday, February 12, 2004
US jobs to grow, but not for the techie
The Economic Times
For the Indian techie, looking warily at the US job scene trying to figure out which way the anti-outsourcing wind is blowing, the report would have been like manna from heaven.
Among the ten fastest growing occupations, only three are related to the info-tech business. Or, the US will need more medical assistants, physician assistants, home health aides etc. than computer programmers or network administrators.
For the Indian techie, looking warily at the US job scene trying to figure out which way the anti-outsourcing wind is blowing, the report would have been like manna from heaven.
Among the ten fastest growing occupations, only three are related to the info-tech business. Or, the US will need more medical assistants, physician assistants, home health aides etc. than computer programmers or network administrators.
Tuesday, February 10, 2004
India dismisses outsourcing fears
BBC NEWS
Despite Western backlash against job outsourcing, the Indian software industry was in a buoyant mood as it gathered for its annual conference in Bombay.
The Indian software industry is optimistic as the pace of its expansion accelerates. India's hi-tech sector is now growing at 30% a year.
Senior executives at a four-day international conference organised by Nasscom, the association of Indian software companies, claim the volume of work outsourced to India has increased by more than 50% in the last year.
Despite Western backlash against job outsourcing, the Indian software industry was in a buoyant mood as it gathered for its annual conference in Bombay.
The Indian software industry is optimistic as the pace of its expansion accelerates. India's hi-tech sector is now growing at 30% a year.
Senior executives at a four-day international conference organised by Nasscom, the association of Indian software companies, claim the volume of work outsourced to India has increased by more than 50% in the last year.
India to Use Satellite for Health Care
ABCNEWS.com
Poor people in India's nearly 600,000 villages will be able to consult specialist doctors in the cities through live video when a tele-medicine satellite is launched at the end of 2005, the country's space agency said Tuesday.
"We will launch it toward the end of next year. ... It will cover the entire country," G. Madhavan Nair, chairman of the Indian Space Research Organization, told reporters.
The satellite, to be named Healthsat, will give villagers access to urban health care facilities that are otherwise unaffordable and unreachable, Nair said.
The Indian government and several state governments have sought to link medical facilities in villages and cities with tele-medicine, a term for examining a patient, or images such as X-ray, by video from afar and giving consultations.
Poor people in India's nearly 600,000 villages will be able to consult specialist doctors in the cities through live video when a tele-medicine satellite is launched at the end of 2005, the country's space agency said Tuesday.
"We will launch it toward the end of next year. ... It will cover the entire country," G. Madhavan Nair, chairman of the Indian Space Research Organization, told reporters.
The satellite, to be named Healthsat, will give villagers access to urban health care facilities that are otherwise unaffordable and unreachable, Nair said.
The Indian government and several state governments have sought to link medical facilities in villages and cities with tele-medicine, a term for examining a patient, or images such as X-ray, by video from afar and giving consultations.
India's economy 'to grow by 8%'
BBC NEWS
India's economy is expected to grow by over 8% in 2003/04, boosted by a rebound in the country's farming sector, officials have said.
India's economy is expected to grow by over 8% in 2003/04, boosted by a rebound in the country's farming sector, officials have said.
Bush report: Sending jobs overseas helps U.S.
The Seattle Times
The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday.
The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday.
Monday, February 09, 2004
What outsourcing backlash?
CNN Money
Concern about jobs being shipped overseas have created a big political stir. But the companies that are benefiting the most from this trend don't seem to be affected by the controversy.
Shares of Cognizant, Wipro, Infosys and Satyam have soared as more companies move jobs to India.
"The industry is today comfortable in its skin, knows its place is secured, no longer seems a need to pound the table to convince anyone of its importance," wrote Coburn. "India's position is obvious, and its growth seems almost certain."
Concern about jobs being shipped overseas have created a big political stir. But the companies that are benefiting the most from this trend don't seem to be affected by the controversy.
Shares of Cognizant, Wipro, Infosys and Satyam have soared as more companies move jobs to India.
"The industry is today comfortable in its skin, knows its place is secured, no longer seems a need to pound the table to convince anyone of its importance," wrote Coburn. "India's position is obvious, and its growth seems almost certain."
Indians Fearing Repercussions of U.S. Technology Outsourcing
NYTimes
The rising political reaction in the United States to the loss of some American jobs to workers overseas is creating a whiplash effect among India's leading technology companies.
For now, the message to India's outsourcing specialists, Mr. Rao of MphasiS said, is simple: "Don't panic.''
The rising political reaction in the United States to the loss of some American jobs to workers overseas is creating a whiplash effect among India's leading technology companies.
For now, the message to India's outsourcing specialists, Mr. Rao of MphasiS said, is simple: "Don't panic.''
Saturday, February 07, 2004
Software Product Firms Write A Profitable Code
Financial Express
Srini Rajam, chairman and chief executive officer of Bangalore-based Ittiam Systems, feels that a product company model is better suitable for smaller companies. “It is because even if you have one or two product lines, the licences will be purchased by multiple customers. Further, a team of 50 people can be enough to start a new product development process. On the other hand, a significant player in the software services segment would be needing about 1,000 people,” says Mr Rajam.
Think big, start small. That’s probably the guiding mantra for a whole host of smaller software companies like Nucleus Software Exports, Infozech, Whizlabs and ESS that are now aggressively focussing on the products space.
Another reason that could explain why smaller software companies are increasingly setting their sights on the products space is the fact that the big three in the services space—TCS, Infosys and Wipro—get most of work in this space as well—whether its onsite or offshore.
Srini Rajam, chairman and chief executive officer of Bangalore-based Ittiam Systems, feels that a product company model is better suitable for smaller companies. “It is because even if you have one or two product lines, the licences will be purchased by multiple customers. Further, a team of 50 people can be enough to start a new product development process. On the other hand, a significant player in the software services segment would be needing about 1,000 people,” says Mr Rajam.
Think big, start small. That’s probably the guiding mantra for a whole host of smaller software companies like Nucleus Software Exports, Infozech, Whizlabs and ESS that are now aggressively focussing on the products space.
Another reason that could explain why smaller software companies are increasingly setting their sights on the products space is the fact that the big three in the services space—TCS, Infosys and Wipro—get most of work in this space as well—whether its onsite or offshore.
Thursday, February 05, 2004
India the new name of the game
Asia Times Online
Not too long ago, the "Made in India" brand did not exist. Forget foreigners, even Indian housewives, who never compromise on quality, shirked Indian-made goods. They exhorted their husbands to load up during international travel. However, in the past year or so, a turnaround has been witnessed.
The Made-in-India tag is making a global splash. The housewives need not fret anymore. And we are not talking here of information technology (IT), business process outsourcing (BPO) or an abstract feel-good factor centered on Indian film actress Aishwaria Rai being branded as the most beautiful woman in the world.
We are looking at the segment of Indian industry that matters the most for any economy, but which is always considered with suspicion in India - manufacturing. IT helped India to achieve global recognition. Now, 2 million trained engineers in the country are bringing Indian products to the fore - many manufacturing companies are growing at 40 percent.
Not too long ago, the "Made in India" brand did not exist. Forget foreigners, even Indian housewives, who never compromise on quality, shirked Indian-made goods. They exhorted their husbands to load up during international travel. However, in the past year or so, a turnaround has been witnessed.
The Made-in-India tag is making a global splash. The housewives need not fret anymore. And we are not talking here of information technology (IT), business process outsourcing (BPO) or an abstract feel-good factor centered on Indian film actress Aishwaria Rai being branded as the most beautiful woman in the world.
We are looking at the segment of Indian industry that matters the most for any economy, but which is always considered with suspicion in India - manufacturing. IT helped India to achieve global recognition. Now, 2 million trained engineers in the country are bringing Indian products to the fore - many manufacturing companies are growing at 40 percent.
Wednesday, February 04, 2004
India sheds Gandhian reticence, eager to export high-tech weapons
Miami Herald
India has shed its Gandhian reticence about its arms industry and wants partners to develop and sell the kind of high-tech weapons the United States used in two Iraq wars, the Indian defense minister said Wednesday.
"It's not manpower but technology that won the two Gulf wars for the United States," said George Fernandes, opening a military exhibition displaying wares from 350 companies in 20 countries.
"Until not so long ago, India was shy to display its weapon making capabilities," Fernandes said. "That coyness may have had Gandhian overtones once upon a time," he added referring to the nonviolent philosophy of Mohandas K. Gandhi, India's independence leader.
He said India has only recently pursued private sector partners and export markets.
India has shed its Gandhian reticence about its arms industry and wants partners to develop and sell the kind of high-tech weapons the United States used in two Iraq wars, the Indian defense minister said Wednesday.
"It's not manpower but technology that won the two Gulf wars for the United States," said George Fernandes, opening a military exhibition displaying wares from 350 companies in 20 countries.
"Until not so long ago, India was shy to display its weapon making capabilities," Fernandes said. "That coyness may have had Gandhian overtones once upon a time," he added referring to the nonviolent philosophy of Mohandas K. Gandhi, India's independence leader.
He said India has only recently pursued private sector partners and export markets.
Tuesday, February 03, 2004
Bollywood music maestro speaks out
BBC NEWS
These days, India's top film composer AR Rahman is hardly ever at home.
After selling some 100 million albums and composing the soundtracks to more than 50 Bollywood films, Rahman is determinedly going global.
The shy, reclusive 37-year-old jingle-maker-turned composer has ruled Bollywood with his robust tunes.
His catchy music fuses traditional Indian sounds with western classical, reggae, hip-hop and mystical Sufi rhythms.
"I am going to be out of India for at least four to five months this year to devote time to my international projects," Rahman told BBC News Online in an exclusive interview.
Rahman, who wrote the music for Andrew Lloyd Webber's West End hit, Bombay Dreams, is tweaking some tunes and writing "two to three" fresh songs for the Broadway version of the musical - set to open in New York in April.
"The songs will make the musical more familiar [to] American audiences who might not be so clued into Bollywood," he says.
These days, India's top film composer AR Rahman is hardly ever at home.
After selling some 100 million albums and composing the soundtracks to more than 50 Bollywood films, Rahman is determinedly going global.
The shy, reclusive 37-year-old jingle-maker-turned composer has ruled Bollywood with his robust tunes.
His catchy music fuses traditional Indian sounds with western classical, reggae, hip-hop and mystical Sufi rhythms.
"I am going to be out of India for at least four to five months this year to devote time to my international projects," Rahman told BBC News Online in an exclusive interview.
Rahman, who wrote the music for Andrew Lloyd Webber's West End hit, Bombay Dreams, is tweaking some tunes and writing "two to three" fresh songs for the Broadway version of the musical - set to open in New York in April.
"The songs will make the musical more familiar [to] American audiences who might not be so clued into Bollywood," he says.
Job shift creates India tech boom
USATODAY.com
Tech companies are hiring again as the economy rebounds — but many of the new jobs are in India.
Oracle (ORCL) CEO Larry Ellison says his company is hiring faster in India than anywhere else. Intel (INTC) President Paul Otellini recently said Intel plans to do most new hiring in India and other Asian countries. Indian classified ads carry job listings from nearly every big U.S. tech firm, from Hewlett-Packard (HPQ) to Dell (DELL) to Microsoft (MSFT).
The shift is boosting India's growing tech industry and helping U.S. companies save money. But it's squeezing the already tight U.S. tech job market. More than 200,000 Silicon Valley jobs have been lost since 2001, says Joint Venture, a San Jose, Calif.-based civic group. Salaries fell an average 24% from 2000
Tech companies are hiring again as the economy rebounds — but many of the new jobs are in India.
Oracle (ORCL) CEO Larry Ellison says his company is hiring faster in India than anywhere else. Intel (INTC) President Paul Otellini recently said Intel plans to do most new hiring in India and other Asian countries. Indian classified ads carry job listings from nearly every big U.S. tech firm, from Hewlett-Packard (HPQ) to Dell (DELL) to Microsoft (MSFT).
The shift is boosting India's growing tech industry and helping U.S. companies save money. But it's squeezing the already tight U.S. tech job market. More than 200,000 Silicon Valley jobs have been lost since 2001, says Joint Venture, a San Jose, Calif.-based civic group. Salaries fell an average 24% from 2000
Job cuts top 117,000 in January — Challenger
MSNBC
Post-holiday job cuts reached 117,556 in January, surpassing the 100,000 threshold for the first time since last October.
The firm said one of the main factors behind the cuts was an increase of employers eliminating jobs in the United States and shifting to service providers in India, China and the Philippines.
Post-holiday job cuts reached 117,556 in January, surpassing the 100,000 threshold for the first time since last October.
The firm said one of the main factors behind the cuts was an increase of employers eliminating jobs in the United States and shifting to service providers in India, China and the Philippines.
Indian economy 'better than ever'
BBC NEWS
Indian growth could hit 8% this year, the government has forecast in its last pre-election budget update.
Indian growth could hit 8% this year, the government has forecast in its last pre-election budget update.
Sunday, February 01, 2004
Japan plans to source chip designs from India
The Times of India
“ China is Japan ’s most promising market but we are looking at others because it does not make sense to put all eggs in one basket. India looks very promising but the problem right now is there are no end-products, assembly-testing or back-end activities here. But three years down the line, things will change,” Kawanishi said.
Says Kazuo Kimbara of Hitachi , “In India ’s case, we are looking at high-end chip design which would include both hardware and software built into it,” Kimbara said.
VCs from Silicon Valley are also interested in funding in India . Says Ram Jayam, advisor to Valley-based VC firms, and V-P of Adaptec Inc: “There is a motion underway to fund in India because there would be shorter lead time from design to manufacture.”
“ China is Japan ’s most promising market but we are looking at others because it does not make sense to put all eggs in one basket. India looks very promising but the problem right now is there are no end-products, assembly-testing or back-end activities here. But three years down the line, things will change,” Kawanishi said.
Says Kazuo Kimbara of Hitachi , “In India ’s case, we are looking at high-end chip design which would include both hardware and software built into it,” Kimbara said.
VCs from Silicon Valley are also interested in funding in India . Says Ram Jayam, advisor to Valley-based VC firms, and V-P of Adaptec Inc: “There is a motion underway to fund in India because there would be shorter lead time from design to manufacture.”
