Doncee-Tech Concept

US Congressmen to meet IT Min; visa issues to be discussed An eight-member high-powered delegation led by US Congressman Bob Goodlatte will meet IT Minister Ravi Shankar Prasad tomorrow to discuss issues like movement of skilled manpower and IP rights. The meeting comes at a time when the new administration in the US, under President Donald Trump, is proposing an overhaul of the popular H-1B visa regime, raising concerns among Indian IT firms. Industry association Nasscom met the delegation this afternoon. "We have shared our views with them that Indian IT industry is a large contributor to job creation in the US and we bring skills in areas where there is a huge skill deficit," Nasscom President, R Chandrashekhar told PTI. Indian IT companies are heavily dependent on the US market that accounts for over 60 per cent of the sector's exports, and any clampdown in the visa regime may result in higher operational costs and shortage of skilled workers for...

IT spending by banks, securities companies to hit $7.8 bn IT spending by banking and securities firms in India is estimated to touch USD 7.8 billion in 2017, an 8.6 per cent jump from 2016, technology research firm Gartner on Thursday said. "The banking and securities industry is increasingly working towards investing in core banking solutions to transform the legacy systems," Moutusi Sau, principal research analyst at Gartner said in a statement. In addition, there is a lot of investment from banks to leverage digital technologies in order to enhance the customer facing platforms, Sau added. The banking and securities industry forecast entails total enterprise IT spending including internal spending and spending on data center, devices, software, IT services and telecom services. "IT services and software will both be the fastest growing segments at 12.6 per cent in 2017, as firms in the banking and securities industry invest more in applications an...