NASSCOM former president R Chandrashekhar has said that the work-from-home culture may become a positive development in the long run as it opens up newer avenues and save investments by IT firms.
The shareholders would consider the appointment of Chandrashekhar as an independent director on the board of the bank at the ensuing Annual General Meeting, Yes Bank said in a statement.
The industry is on track to posting 7-8 per cent growth in exports in the current fiscal and there is no case for revisiting those numbers as no new factor has emerged, said software services body Nasscom's president, R Chandrashekhar.
The AI is fast reaching a stage where many of the tasks performed by humans can be done by robots, Nasscom president R Chandrashekhar told PTI.
Replying to query on the latest announcements curbing skilled job visas by Australia and the US, he said there is a rising trend of "protectionism" globally and anti-globalisation.
Nasscom President R Chandrashekhar said that issuance of visas to the tech workers under the intra company transfers has "reduced to a trickle" and so for all practical purposes "the tap has been shut".
IT industry body Nasscom today said any move to restrict work rights for spouses of H-1B visa holders may dampen the enthusiasm of tech professionals to go on such visas, but will not directly impact the industry.
NASSCOM President R Chandrashekhar said he will consult the US government and its embassy in India to ensure that the industry does not face any difficulty or hindrance in its work.
A delegation of IT industry body Nasscom will be in Washington DC tomorrow to engage with members of the new US administration on issues like clampdown on work visas and flow of skilled manpower between the two nations.
Despite uncertainties stemming of US President Donald Trump's visa policies. IT industry body NASSCOMM is confident of a strong demand for the sector.
R. Chandrashekhar, head of Indian IT industry body Nasscom, said details of the visit were still being finalised, but chief executives from some of India's big IT companies would be part of a delegation visiting Washington in the week of February 20.
Industry body Nasscom will take a delegation of senior executives to Washington DC later this month to reach out to the new US administration as well as senators on concerns around clampdown on visas and flow of skilled manpower between the two nations.
A legislation has been introduced in the US House of Representatives for doubling minimum salary of H-1B holders to USD 130,000. This will make it difficult for American companies to get more skilled workers from other countries including India.
Nasscom chairman R Chandrashekhar said positive signs of an upturn were already visible in the Q3 earnings of Infosys and TCS, with significant growth in revenues from the digital space.
Cautioning that current form of GST implementation could pose serious challenges for IT sector, industry body Nasscom today met the GST Council to express concern on tax treatment of software and make a case for 'single registration' under the new regime.
Last week, the UK announced that beginning November 24, the minimum salary threshold for Tier 2 inter-company transfer visas, which are usually used by the Indian IT industry, will be increased from 24,800 pounds to 30,000 pounds. The long term visa cost will go up to 41,500 pounds.
"A revision is clearly on the cards, and it will be downwards... after all the second quarter results are over, we will complete our analysis by mid-November," Nasscom President R Chandrashekhar told PTI.
In an interview with CNBC-TV18, R Chandrashekhar, Presiden tof NASSCOM said that Ramadorai led the NSDC and played a major role in the skill development programme over the last few years.
Replying to a question by reporters on India's 130th position in terms of ease of doing business, Nasscom President R Chandrashekhar said, "I think that should be hugely worrying." But he said that the country has the third-largest base of startups, which is encouraging.
IT industry body Nasscom on Wednesday said it is "fairly clear" that it will have to revise downwards its export revenue growth guidance of 10-12 per cent for 2016-17 in view of muted second quarter results by major companies in the sector.
Speaking to CNBC-TV18 Nasscom President R Chandrashekhar spoke about TCS Chief and MD Natarajan Chandrasekaran‘s elevation to the Tata Sons Board. He said that the move signifies the rising importance of IT in a large multi-sector conglomerate‘s business portfolio.
In an interview to CNBC-TV18, R Chandrashekhar, President of NASSCOM said a lot of short-term cues are negatively impacting IT industry.
The analysts are bearish on the entire IT pack and believe that the sector will underperform in coming quarters. However, industry body Nasscom says that various factors are the reason behind volatility in the sector.
"The US should revisit the issue of hike in visa fee, and find appropriate alternatives to fund their (social) objectives. Also, there should be clear commitment against such discriminatory steps in future," R Chandrashekhar, President of Nasscom told PTI.