Azim Premji

Corporate Affairs Minister Veerappa Moily today blamed the negativism around the Indian economy on "misconceived perceptions" created by certain national and international agencies.

Software major Wipro would continue to expand at its existing facility at Salt Lake in the metropolis, company chairman Azim Premji said today.

Software services exporter Wipro met street expectations on Tuesday, with a consolidated net profit of Rs 1,580.2 crore in April-June, up 18% year-on-year. Its total income rose 24% to Rs 10,619.6 crore in the quarter.

Joining the likes of NR Narayana Murthy and Azim Premji to blame the Indian government for policy inaction, UK-based NRI billionaire LN Mittal has said the country is potentially condemning millions to remain in poverty by not helping industrialisation.

Amid a growing number of industry leaders expressing anguish over policy paralysis, top banker Chanda Kochhar has said that people are talking more about challenges while taking the positives for granted.

Hitting back at corporate honchos criticising the government over the current state of the economy, Corporate Affairs Minister Veerappa Moily today said "perceptions cannot undo fundamentals" and Azim Premji and Narayana Murthy should speak with optimism.

Government today rejected the downgrading warning by rating agency Standard & Poor's and the comments made by industrialist Azim Premji on policy paralysis and exuded confidence that the economy would revert to high growth path after overcoming "difficulties and challenges".

Amid growing perceptions of policy paralysis, top industry leaders have come down heavily on the current state of affairs in the economy, saying that India's image seems to have taken a hit.

After the World Bank cut India's growth forecast to 6.9% in 2012-2013, India Inc leaders have expressed concern over the political situation in the country.

The floor price for a share auction by a trust controlled by software exporter Wipro's billionaire founder Azim Premji has been set at Rs 418 a share, stock exchange data showed on Wednesday.

An offer by a trust controlled by Wipro's billionaire founder Azim Premji to sell up to 35 million shares got about 71% covered at the close of the auction on Wednesday, according to stock exchange data.

Software giant Wipro has come forward to provide necessary assistance to Andhra Pradesh Government for setting up a mega traffic surveillance system in the capital city.

Software czar Azim Premji, social activist Anna Hazare and writer Arundhati Roy are among the five Indians who figure in Foreign Policy's prestigious list of Top 100 Global Thinkers, which also includes US President Barack Obama.

The Congress hit back at Azim Premji after the IT czar slammed the UPA for absence of decision making, saying Premji should mention specific area of concern.

Software services provider Wipro’s second quarter net profit rose a better than expected 1.2% at Rs 1300.9 crore,, helped by increased spending by clients and a depreciation in rupee.

The government has reconstituted the board of Reserve Bank Of India and has appointed seven new directors, reports CNBC-TV18. These directors include M Rao (Chairman- Gmr Group, Anil Kakodkar (Former Chairman- Atomic Energy Commission) and Kiran Karnik (Former Chairman-Nasscom).

For almost two years now we’ve been hearing how Cognizant is closing the gap with Wipro. In January when Mr Premji dismantled the co-CEO model at Wipro, this was cited as one of the reasons for asking the two CEOs to go.

IT major Wipro today warned that the global macro economic environment continues to be volatile, giving the sector "some kind of uncertainty" over future growth.

India’s third-largest software services provider Wipro is seeing some signs of positive momentum amid increased outsourcing as clients focus on optimizing operations.

The multiple debates over ecology are bound to be the defining issues of humanity over the next few decades. This would drive both risks and opportunities.