Business News

IT Inc grows to Rs 91,800 cr in FY12

NEW DELHI: The domestic IT market has grown 16.7 per cent to Rs 91,800 crore in 2011-12 from Rs 78,600 crore in the previous fiscal, the government said. 

"The growth rate of the IT domestic market is 16.7 per cent in the financial year 2011-12. The domestic market has increased from Rs 786 billion to Rs 918 billion," Minister of State for Communications and IT Sachin Pilot said in a written reply to the Rajya Sabha. 

The aggregate revenue for the IT sector is estimated to cross $100 billion (over Rs 5 lakh crore) mark in financial year 2011-12, from $88 billion in 2010-11, he added. 

Canon seeks automation in camera production to reduce costs

TOKYO: Canon is moving toward fully automating digital camera production in an effort to cut costs - a key change being played out across Japan, a world leader in robotics.
If successful, counting on machines can help preserve this nation's technological power - not the stereotype of machines snatching assembly line jobs from workers, Jun Misumi - company spokesman, said Monday.
The move toward machine-only production will likely be completed in the next few years, perhaps as soon as 2015, said Misumi, although he declined to give specific dates.

Biz models shold be revised by IT cos

The report cards of large software firms paint a grim picture of the year ahead, making analysts doubt Nasscom's 11-14% growth forecast. 
Their fears are not exaggerated, considering that the global economy has become much more challenging with the political crisis in the eurozone. 
The top lines of IT companies will come under pressure if the crisis impacts the US in a big way. North America alone accounts for over half of the sector's revenues. Revenues of the top four IT firms grew by a mere 1.2%, the slowest since the last quarter of fiscal 2009. 

Troubles increased in India for RIM

Don't let the kid on the next seat in the train, furiously typing away on his or her BlackBerry fool you. Despite the fact that Indian youth have bonded over BBM, the performance of the parent RIM and maybe even the launch of its latest product in India have revealed a number of holes in the phone maker's strategy. BE asks what's troubling BlackBerry, boys? 

Microsoft Shows $100m financial scam

Microsoft and the banking industry has provided a detailed, behind-the-scenes account of an operation they said disrupted a major cybercrime operation that used malicious software to allegedly steal $100 million from consumers over the last five years.

Wipro tops Greenpeace's India guide

Greenpeace today released a new and upgraded version of its Guide to Greener Electronics wherein Wipro retains the top slot followed by HCL Infosystem in the Indian version. The international version ranks the IT manufacturing company HP at the top slot, taking the lead over Dell and Nokia in international version. The new entrant to the guide in the international version is Research in Motion (RIM), manufacturer of Blackberry phone and in the Indian version it is Chirag Computers and SAI InfoSystem.