EVEREST GROUP
From flamenco to igloos: How India Inc is turning work trips into bucket list adventure
Indian companies are increasing employee travel for team building and talent retention. Travel firms like Thomas Cook India and SOTC Travel are seeing a rise in corporate travel. Budgets can exceed ₹5 lakh per person. BFSI, auto, pharma, and tech sectors are leading this trend. Companies are planning unique experiences and exploring destinations like Azerbaijan and Australia.
IT grapples with more than 20% drop in deal pricing on macro, AI impact
This scenario is expected to sustain leading IT firms to sharpen focus on cost efficiencies and vendor consolidation amid continued slowdown in technology spends by most corporate clients, analysts said. After Covid's strong growth period, the over-$280 billion technology services outsourcing industry has seen projects tilt towards cost takeout and vendor consolidation.
India grappling with a dearth of agentic AI experts
India is grappling with a critical shortage of agentic AI professionals as demand surges, driven by the shift towards sophisticated AI agents capable of autonomous decision-making. The current talent pool of under 100,000 is struggling to meet the projected need of 200,000 by 2026, leading to soaring salaries and intense competition among GCCs, IT firms and startups.
From seven hours to seven minutes: Drones could revolutionise climbing Mt Everest this year
Drones are transforming Everest expeditions by transporting essential supplies across the perilous Khumbu Icefall, significantly reducing the risks and workload for Sherpa climbers. This innovative technology, spearheaded by Nepal's Airlift Technology, not only enhances safety but also aids in crucial clean-up efforts on the mountain.
IT firms pass on AI-led gains as clients seek cost savings
Will artificial intelligence combined with the challenges brought about by the tariff war upend the dyed-in-the-wool business model of the IT industry? India’s largest IT firm, TCS, is taking the cost savings from “AI for IT” projects to fund new “AI for business” programmes to gain market share.
Famed Sherpa guide will attempt to climb Mount Everest for 31st time, break his own record
Kami Rita, a renowned mountain guide, is set to embark on his 31st Mount Everest expedition, potentially reaching a record-breaking 32 ascents. He departed for the mountain to guide climbers during the spring season, aiming to prioritize his client's summit success.
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Tariff overhang: IT companies slash hiring mandates, demand drops by one fifth in Q4 of FY25
India’s software exporters are halting new hiring and adopting a “wait and watch” approach as the industry braces for continued economic uncertainty triggered by the ongoing tariff war. Recruitment firms reported that hiring mandates have been slashed, with talent demand dropping nearly 20% between January and March 2025 compared to the previous quarter.
TCS calls up group veterans to lead the voyage into AI
The IT giant has also created a new position of chief strategy officer appointing Mangesh Sathe, who currently is the chief executive of Tata Strategic Management Group. Sathe, who had previously worked as a principal with the Boston Consulting Group, will also head the Global Consulting Practice and oversee the M&A functions at TCS once he joins in May.
Not just globally, U.S also hit hard by Trump's tariffs: Microsoft backs out of $1 billion Ohio plant citing rising costs
Microsoft has cancelled its $1 billion data centre project in Ohio, citing rising costs due to tariffs imposed by the Trump administration. Initially set to create thousands of jobs and boost the local economy, the decision reflects broader struggles in the tech industry with increasing infrastructure costs. While the project is paused, Microsoft will still fund road and utility upgrades.
Indian IT services may have to pivot to cost control as global headwinds worsen
Indian IT companies face renewed pressure to deliver more for less amid market volatility and declining stock performance. Tariff concerns in the US, a key market, are slowing discretionary tech spending. Experts suggest focusing on cost-saving initiatives, exploring non-US markets, and restructuring delivery models to remain competitive.
India’s $280 billion IT services industry likely to face setback due to Trump administration’s reciprocal tariffs
The US government’s latest moves are however set to delay or derail a recovery for the IT services sector with revenue growth likely to have declined as much as 1.3% sequentially in the March quarter.
Tesla, chip stocks Intel, Qualcomm tumble as China's retaliation stokes fears of widening trade war
U.S. chip companies, banks, and oil majors experienced significant declines following China's retaliatory tariffs in response to Trump's export duties. The trade war escalated with additional tariffs and export controls, affecting supply chains, increasing prices, and decreasing demand across multiple sectors, including technology, natural resources, and agriculture.
Piyush Goyal vs consumer startups; Sachin Bansal on Flipkart exit
Founders have defended India’s consumer internet ecosystem against remarks by union minister Piyush Goyal. This and more in today’s ETtech Top 5.
Trump tariffs could stymie Big Tech's US data center spending spree
Electronics - which include smartphones, PCs and data-center equipment - were the second biggest imports last year at nearly $486 billion worth of goods, according to Census Bureau data. Bernstein analysts pegged data processing machine imports at about $200 billion in 2024, mostly from Mexico, Taiwan, China, and Vietnam.
Tech companies develop a keen AI for niche talent
Amid tech layoffs, certain AI-related job profiles are attracting multiple offers and higher packages, likely due to their specialised skill sets. Positions including prompt engineers, AI ethicists, and generative AI engineers are in high demand, reflecting a shift towards pie-shaped skill sets and advanced tech roles in cybersecurity and cloud computing.
Anand Mahindra’s powerful tribute to the world's youngest female to conquer the Seven Summits is inspiring. Who is Kaamya Karthikeyan?
Young Indian mountaineer Kaamya Karthikeyan’s remarkable achievements have drawn widespread admiration. Mahindra Group chairman Anand Mahindra praised her determination, quoting The Sound of Music, highlighting her perseverance and her family's support. At 17, Kaamya conquered the Seven Summits and previously summited Mount Everest at 16, earning the prestigious Pradhan Mantri Rashtriya Bal Puraskar in 2021.
IT creates dedicated units for MNCs’ capability centres
Such deals are beyond the existing partnerships they have with overseas firms for technology services and solutions as third-party providers. Companies driving these initiatives include Accenture, Cognizant, Infosys, Wipro, Capgemini, Tech Mahindra and Persistent Systems.
Medicines get qcomm dose; Zomato, Lenskart win at ET Awards
Happy Monday! The quick commerce beast is setting its eyes on medicine delivery. This and more in today’s ETtech Top 5.
DOGE’s federal spends slash unlikely to bleed Indian IT companies
Elon Musk-led DOGE’s federal contract cuts may impact US consulting firms, but Indian IT remains largely insulated due to minimal federal exposure. The US federal government spends an estimated $60 billion a year in consulting fees, data from US-based technology-focused research and advisory firm HFS Research shows.
Indian IT spared from DOGE bite; Darwinbox’s $140 million round
Indian IT firms may escape the wrath of Elon Musk’s DOGE. This and more in today’s ETtech Top 5.
IT services firms see proactive deal renewals by clients on AI upsurge
This is likely to see a decline of longer-tenured contracts upwards of 5-10 years with a greater number of shorter period and smaller sized deals going forward. It is also in line with top executives calling for the outsourcing model ripe for disruption with a focus on outcome-based projects than just people-led model, experts say.
GCCs, mid and small caps may top IT hiring as larger firms step back
Entry-level hiring will be slower compared with hiring for mid-to-senior roles, as firms are looking for people who would not need training and handholding before being assigned to projects.
GCCs evolve beyond IT, ramp up hiring for specialised tech
Global Capability Centers (GCCs) are evolving beyond IT functions, prioritising innovation and domain expertise. Hiring for specialised tech roles in BFSI, healthcare, retail, and manufacturing is rising, with a focus on AI, cloud, and automation-driven solutions.
IT sector growth to fall to 5.3 per cent in 2017: Research
The pessimistic estimates are a reflection partly of the widespread impact that digital disruption is having on the sector and political factors like US protectionism and Brexit.
TCS recognised as leader by Everest Group report
TCS was recognised for its investments in next generation solutions across Automation and DevOps, and strong capabilities across the testing lifecycle, with product based and industry-specific solutions.
Urban Infra VC files FIR against Everest promoters for alleged misuse of funds
The information has come to the fore in the wake of incidents relating to realty developers, Unitech and Mantri Realty, that shook up the sector.
TCS recognized as 'Leader' in independent testing services by Everest Group
Everest Group evaluated 23 service providers in the independent testing services sector and mapped them on their PEAK matrix.
Outsourcing market faces slowdown: Everest Group
The global outsourcing and offshoring market is going through a sluggish phase, marked by a drop in transaction volumes and new deal signing during the third quarter this year.
Talent crunch forces BPOs to Tier II cities
The surge in real estate prices and a talent crunch in metros are forcing the $11 billion Indian BPO industry to move to Tier II cities in the country, according to a study conducted by consultancy firm Everest Group.
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