IT bellwether Infosys Technologies Friday became the first private firm in India, post the 26/11 Mumbai terror attacks, to get security cover from the elite Central Industrial Security Force (CISF) for its sprawling campus.
"I would like to thank the central government, the home ministry, and the state government for helping us get the security services of CISF personnel," Infosys chief mentor N.R. Narayana Murthy said while welcoming a detachment of 101 troopers at the campus in Electronic City, about 15 kms from the city centre.
CISF Inspector General R.K. Mishra said: "This is for the first time since its creation in 1969 that the CISF will be providing security cover to a corporate organization. We are pleased and proud to be entrusted with the responsibility of security at Infosys."
"CISF will act as an arms support. Our main task is to delay, deny and neutralize any possible terror strike in Infosys. We'll provide unobtrusive and inclusive security cover, and regular security cover of the Infosys will be done by the existing security personnel of the company," Mishra added.
The CISF personnel will provide a 24X7 protection shield to the Indian software giant which, intelligence agencies believe, could be a target for terrorists. The detachment comprises an assistant commandant, an inspector, 12 sub-inspectors, 18 head constables and 69 constables.
Mandated with "anti-terrorist and anti-sabotage" duties, the CISF personnel will not be responsible for "watch and ward" duties that will continue to be provided by the 350 personnel of a private security firm, another CISF official said.
Infosys will be shelling out around Rs.100,000 daily for the CISF cover.
The decision to deploy the CISF for security duty at Infosys follows appeals from private industrial houses, hotels and hospitals for central security after the Nov 26-29 Mumbai carnage that claimed the lives of over 170 people, including 26 foreigners.
CISF has 79 requests pending from private establishments. These include Reliance Jamnagar Refinery, Wipro, Taj Hotel (Mumbai), Trident Hotels (eight locations), Hotel Marriott (Mumbai), Delhi Public School (three branches in Delhi), Jaypee Group of Hotels (eight locations) and energy major Torrent Powers (Ahmedabad).
"The need for security cover to vital private installations was felt following intelligence reports that Pakistan-based terrorists might try to target them by launching a surprise attack similar to the one in Mumbai," said Mishra.
Infosys board member T.V. Mohandas Pai said CISF cover would soon be given to the entire Electronic City that houses several IT companies.
"Around 100 IT companies are part of Electronic City. However, 25 big companies have agreed to bear the cost of the CISF security cover in and around Electronic City. Thereafter, Infosys is also planning to deploy CISF personnel across its various campuses, including the Mysore campus, the largest training centre of the company," Pai added.
"The CISF team is highly trained in the art of weapon handling, fighting terrorists and using latest technology to thwart any kind of terror threats. They are a bunch of young and intelligent men and we're hopeful of giving best of security cover to Infosys," Mishra said.
Monday, August 3, 2009
Saturday, August 1, 2009
Outsourcing
British Council to outsource jobs to India
More than 100 finance and IT jobs at the British Council are to be outsourced to India as part of a cost-cutting drive to save the taxpayer money, according to a report in The Times.
The report said that 500 of the council's 1,300 British workers would have to go in the next 18 months to save 45 million pounds with more than a fifth of the posts being filled in India. The Times did not cite a source for its story.
The Times also said that around 280 of the council's 500 permanent back-office jobs will be cut permanently with the remainder going to agency, part-time or contract staff, said the report.
The Times added that the Foreign and Commonwealth Office, which funds the council, was exploring similar options.
A spokesman for the British Council could not immediately be reached for comment.
The report said that 500 of the council's 1,300 British workers would have to go in the next 18 months to save 45 million pounds with more than a fifth of the posts being filled in India. The Times did not cite a source for its story.
The Times also said that around 280 of the council's 500 permanent back-office jobs will be cut permanently with the remainder going to agency, part-time or contract staff, said the report.
The Times added that the Foreign and Commonwealth Office, which funds the council, was exploring similar options.
A spokesman for the British Council could not immediately be reached for comment.
IT market
Indian IT Inc targets $54 bn exports
Slowdown hit, India's software exporters are exploring new markets in the Middle East and Africa to increase IT exports by 10 per cent and touch $54 billion in the current fiscal.
IT software exports were valued at $49.5 billion in 2008-09, which was about 14 per cent more than that in 2007-08.
"We are not expecting much growth in exports in 2009-10 due to the global slowdown," Electronics and Computer Software Export Promotion Council (ESC) Executive Director D K Sareen said. The ESC, however, has set a higher target for growth in electronics hardware exports, he added.
The council has set a target to earn $4.5 billion from electronics hardware export in the current fiscal which is about 15 per cent more than the shipments of $3.9 billion in 2008-09.
With most of the country's main markets like the US and EU reeling under the impact of demand slowdown, the ESC is encouraging the industry to explore Middle East, Latin America, South African region and Japan to increase exports.
India will be showcasing its strength in IT hardware, software and services and telecom sectors at GITEX, an IT exhibition in Dubai.
India had exported electronics hardware and software worth $980 million to Middle East countries in 2007-08.
IT software exports were valued at $49.5 billion in 2008-09, which was about 14 per cent more than that in 2007-08.
"We are not expecting much growth in exports in 2009-10 due to the global slowdown," Electronics and Computer Software Export Promotion Council (ESC) Executive Director D K Sareen said. The ESC, however, has set a higher target for growth in electronics hardware exports, he added.
The council has set a target to earn $4.5 billion from electronics hardware export in the current fiscal which is about 15 per cent more than the shipments of $3.9 billion in 2008-09.
With most of the country's main markets like the US and EU reeling under the impact of demand slowdown, the ESC is encouraging the industry to explore Middle East, Latin America, South African region and Japan to increase exports.
India will be showcasing its strength in IT hardware, software and services and telecom sectors at GITEX, an IT exhibition in Dubai.
India had exported electronics hardware and software worth $980 million to Middle East countries in 2007-08.
IT market, Recession
Virtusa's revenue drops by 12 percent
Kris Canekeratne founded Virtusa Corporation, a global IT services company has announced that its revenue for the first quarter of fiscal 2010 dropped by 12 percent year-on-year to reach $37.4 million, which was down 10 percent sequentially. Virtusa reported income from operations of $3.1 million for the first quarter of fiscal 2010, compared to $11,000 for the first quarter of fiscal 2009 and $3.9 million for the fourth quarter of fiscal 2009.
Canekeratne, the company's Chairman and CEO, stated, "Even in a challenging business environment, we started work with six new clients during the June quarter, continued to execute well against newer client expansion programs, and efficiently managed operations." The Company ended the first quarter of fiscal 2010 with $116.7 million of cash, cash equivalents, short-term investments and long-term investments. The Company generated cash from operations of $4.1 million during the first quarter of fiscal 2010.
According to the company, the second quarter 2010 revenue is expected to be in the range of $36.4 to $37.8 million, with diluted earnings per share (EPS) of $0.08 to $0.11. For fiscal year 2010, the company expects the revenue to be in the range of $154 to $162 million, with diluted EPS of $0.46 to $0.56.
Canekeratne, the company's Chairman and CEO, stated, "Even in a challenging business environment, we started work with six new clients during the June quarter, continued to execute well against newer client expansion programs, and efficiently managed operations." The Company ended the first quarter of fiscal 2010 with $116.7 million of cash, cash equivalents, short-term investments and long-term investments. The Company generated cash from operations of $4.1 million during the first quarter of fiscal 2010.
According to the company, the second quarter 2010 revenue is expected to be in the range of $36.4 to $37.8 million, with diluted earnings per share (EPS) of $0.08 to $0.11. For fiscal year 2010, the company expects the revenue to be in the range of $154 to $162 million, with diluted EPS of $0.46 to $0.56.
Infosys, IT market
Govt support must to help IT achieve growth: Infosys
The government's active support is important for the country's IT sector to help achieve the Rs 70,000-crore export figure this fiscal, a top Infosys executive said on Friday.
Speaking to reporters on the sidelines of a function at the Infosys campus, Company Board Member Mohandas Pai said, Bangalore would register a growth of 20 per cent from last year's figure of Rs 58,000 crore.
To a query on states like Kerala and Orissa aggressively marketing their IT hubs, he said, government should come forward and set a target of 1,00,000 crore of software exports for the next two years. Such targets would help instilling some enthusiasm in the industry.
Speaking to reporters on the sidelines of a function at the Infosys campus, Company Board Member Mohandas Pai said, Bangalore would register a growth of 20 per cent from last year's figure of Rs 58,000 crore.
To a query on states like Kerala and Orissa aggressively marketing their IT hubs, he said, government should come forward and set a target of 1,00,000 crore of software exports for the next two years. Such targets would help instilling some enthusiasm in the industry.
BPO
American Express may sell a part of its BPO unit
American Express is looking to sell a slice of its back-office operation in India, at least three people with knowledge of the plan said, putting it on track to join a long list of overseas firms, that have shed their captive business process outsourcing (BPO) units in the country.
A portion of the back-office operation providing travel-related services for its international clients is being hived off, and talks have started to sell this piece of the business, one person told ET, but declined to divulge details. Another person privy to the plan said the move is a precursor to the eventual sale of the entire BPO unit.
The second person said the financial and travel services provider may even divest some stake in the BPO unit to induct a partner to manage the operation. Industry experts estimate the unit could be valued at around $300 million (Rs 1,500 crore). An AmEx spokeswoman said: “We can’t comment on market speculation or rumour.”
AmEx’s BPO unit in India is a captive one. It caters only to the bank’s own clients, providing back-office support covering travel-related services, credit cards, accounting, customer care and related processes for the company’s worldwide operations. AmEx has never publicly announced the number of people it employs in India, but those familiar with its business put its headcount in the country at around 7,000. The travel service centre, for which it is looking for a buyer, employs around 500.
Late last year, American Express said it had laid off “less than 100 employees” at its BPO in Gurgaon near Delhi. AmEx also outsources work to several local BPOs and software vendors in India. Its tiny banking operation in India was acquired in 2007 by Standard Chartered as part of a global deal. If American Express sells its BPO unit, it will be following in the footsteps of those such as Aviva, GE, British Airways and Conseco, all of whom decided it was cheaper to outsource the work to specialist providers of back-office and customer care services.
A portion of the back-office operation providing travel-related services for its international clients is being hived off, and talks have started to sell this piece of the business, one person told ET, but declined to divulge details. Another person privy to the plan said the move is a precursor to the eventual sale of the entire BPO unit.
The second person said the financial and travel services provider may even divest some stake in the BPO unit to induct a partner to manage the operation. Industry experts estimate the unit could be valued at around $300 million (Rs 1,500 crore). An AmEx spokeswoman said: “We can’t comment on market speculation or rumour.”
AmEx’s BPO unit in India is a captive one. It caters only to the bank’s own clients, providing back-office support covering travel-related services, credit cards, accounting, customer care and related processes for the company’s worldwide operations. AmEx has never publicly announced the number of people it employs in India, but those familiar with its business put its headcount in the country at around 7,000. The travel service centre, for which it is looking for a buyer, employs around 500.
Late last year, American Express said it had laid off “less than 100 employees” at its BPO in Gurgaon near Delhi. AmEx also outsources work to several local BPOs and software vendors in India. Its tiny banking operation in India was acquired in 2007 by Standard Chartered as part of a global deal. If American Express sells its BPO unit, it will be following in the footsteps of those such as Aviva, GE, British Airways and Conseco, all of whom decided it was cheaper to outsource the work to specialist providers of back-office and customer care services.
Subscribe to:
Posts (Atom)