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Indian IT industry revenue to touch $167 billion: Nasscom (Lead)

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Bengaluru, Oct 4 (IANS) With 37 per cent share of the global outsourcing, the Indian IT industry revenue is set to touch $167 billion for fiscal 2018-19, said its apex body Nasscom on Thursday.

“The Indian IT and Business Process Management (BPM) industry revenue, including exports is set to growth nearly 8 per cent annually to $167 billion for 2018-19 from $154 billion in fiscal 2017-18,” said Nasscom Vice Chairman Keshav R. Murugesh at its strategic summit here.

Noting that the industry is capitalising on newer technologies and re-skilling, Murugesh said the back office segment (BPM) has the largest base in the world, generating $32.5 billion revenue with 1.2 million (12 lakh) employees across the country.

“The focus is on intelligent operations — process and domain expertise combined with digital technology. Digital is the key area for clients and service providers while companies eye strategic acquisitions,” said Murugesh.

As digital technologies reshape businesses, the industry is innovating to emerge as the hub for digital solutions. Upskilling for digital, acquiring competencies through mergers and acquisitions or partnerships, building platforms and products and leveraging centres of excellence in new technologies are some of the priorities of the companies.

The day-long summit highlighted how businesses are taking advantage of emerging technologies like Robotic Process Automation (RPA), Artificial Intelligence (AI), digital communications, Internet of Things (IoT) and cognitive computing to improve profitability, collaboration and competitiveness.

“The major row over data privacy needs to be addressed and compliance with the European Union’s General Data Protection Regulation is a regulatory requirement,” reiterated Murugesh.

Adoption of technologies like Blockchain and AI have shown how security, speed and operational efficiencies can be enhanced.

“The essential requisite for any firm is to understand how digital technology from chatbots to analytics can provide a real-time picture of customer interactions and provide customer satisfaction. The rise of RPA has also brought a host of opportunities to both organisations and individuals,” he added.

With 17,000 firms across the country, the industry offers a range of services, having built skills and capabilities to address new and developing customer demands.

Over the years, firms have invested in building capabilities around the new technologies, and have set up labs to deliver digital services to customers.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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