IT industry hit by shortage of projects from Europe and US

Top Indian information technology companies will add to their already bloated bench strength in the coming quarters, as the $100-billion domestic industry battles a slowdown in projects from the West, its biggest revenue generator, and employees are left without work.

According to industry watchers, shortage of projects from Europe and the US has

Indian IT to benefit from Barack Obama's healthcare victory

Indian information technology and back-office companies can look forward to deals worth up to $22 billion (Rs 1.2 lakhcrore) after the US Supreme Court upheld a law designed to bring about far-reaching reforms in the American healthcare sector.

Some 30 million uninsured Americans are expected to buy healthcare insurance because of the reform, and new projects are expected in the form of data conversion, creation and management of electronic health records, as well as claims processing and insurance sales.

Last week, the US Supreme Court upheld the main elements of the Patient Protection and Affordable Care Act, President Barack Obama signature legislative achievement which he signed into law in 2010. (curtsey: economic times)

Rupesh Yatesh Dalal
Head Research Department

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MARKET EYE-Macquarie downgrades Indian IT services sector

Mon Jul 2, 2012 12:11pm IST

* Macquarie Equities Research has downgraded Indian IT services

sector to "underweight" from "overweight" citing demand concerns

as Infosys, which already 

Govt to introduce DTC bill in Monsoon Session

India hopes to introduce a bill for a direct tax code (DTC) during the monsoon session of parliament, Finance Minister Pranab Mukherjee said on Monday.

The monsoon session usually runs from July to August.

The code, which will replace the existing Indian Income Tax Act 1961, intends to cut tax rates to bring more

Finance Minister Pranab Mukherjee axes multiple tax on software made in India

India's $5-billion domestic software industry can breathe a sigh of relief as finance minister Pranab Mukherjee on Wednesday assured that sale of locally made software will not be subjected to tax deduction at multiple levels. 

 

The tax reprieve would not apply to multinationals such as Microsoft and Adobe. Income from