Monday, July 10, 2006

India IT News Capsule - July 2006, Issue 2

  • British telecom firm logs out of India: British based telecom firm Belair Communications has ceased all BPO operations in India and has left in lurch the 93 employees on its India rolls. Neither have the employees been paid compensation nor any reason given by the company for winding up its India operations. Its closure comes in the wake of the HSBC fraud that was unearthed recently.
  • HCL technologies to ink deal with South African firm: HCl Technologies Ltd. is on the verge of signing a $400 million multi-year outsourcing deal with Skandia, the South African firm that was recently taken over by old Mutual.
  • India accounts for 40% of BPO business in the world: India, the best Asian outsourcing destination is set to garner 40% and more of the BPO business in the world which is set to generate 6 million jobs in Asia. The other 5 benefactors of BPO outsourcing in Asia are China, Philippines, Malaysia, Thailand, and Vietnam. India has a dominant position in this outsourcing industry that has grown from $ 570 billion in 2002 to $1.2 trillion in 2006. India is still showing a turbo charged growth of 14% in this industry.
  • Wipro to form crack team to handle large acquisition deals: IT giant Wipro has formed a crack team of six individuals headed by Sanjay Joshi, the head of Wipro Consulting to handle large acquisition deals that top $ 50 million.
  • Australian firms planning on more offshoring: Telstra and Optus, the Australian telecom giants are planning to offshore more jobs to India as part of their cost cutting intiatives.The move would involve moving parts of IT development and management offshore.

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