Latest news with #ITcompanies
Yahoo
07-08-2025
- Business
- Yahoo
Analyst has a shocking plan for India to crush 50% tariffs
Analyst has a shocking plan for India to crush 50% tariffs originally appeared on TheStreet. On Aug. 6, President Donald Trump took the global tariff war to another height as he hiked tariffs on India to 50% for buying oil from Russia despite the war in Ukraine. While the decision left the global crypto community fuming due to concerns over the market, the reaction from the Indian crypto community was even more severe. Kashif Raza, a prominent crypto voice in India, suggested the country take a crypto-centric approach to solve the tariff conundrum. Ethereum is the right way for India to answer Donald Trump, Raza argued. According to Raza, India's renowned IT companies will be worst hit by these tariffs. In fact, two of the leading IT firms of the country generated $26 billion in annual revenue from the U.S., he claimed. In response, India can contain the loss by betting on Ethereum. One of the ways could be staking ETH, he said. Staking refers to the process of locking up your crypto assets like ETH to help secure a proof-of-stake (PoS) blockchain network and earn yields in ETH staking offers 4%-4.5% yields, India can stake $577 billion worth of ETH to earn $26 billion in yields, he added. But how will the country accumulate such a large amount of Ethereum for staking purposes? Raza points toward the country's massive gold reserve worth $84.5 billion, which he asks to be converted into ETH for staking. At the current ETH price of around $3,650, India can exchange its gold reserve for more than 23 million ETH tokens. When Aditya Singh, another popular community voice, said only Bitcoin is the way, Raza highlighted a recent directive in the U.S. that encourages liquid staking. If U.S. corporations can earn billions by ETH staking, India shouldn't be left behind, he added. Analyst has a shocking plan for India to crush 50% tariffs first appeared on TheStreet on Aug 6, 2025 This story was originally reported by TheStreet on Aug 6, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Entrepreneur
06-08-2025
- Business
- Entrepreneur
Indian IT Companies See Strong Growth in European Region
The ongoing uncertainties in the US market have also encouraged Indian IT companies to focus more on expanding their footprint in Europe You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Top Indian IT services firms are witnessing strong growth momentum in the European market as businesses are accelerating their digital transformation initiatives, seeking cost-effective solutions, and facing a shortage of skilled tech talent – all fortes of Indian IT companies. For the first quarter ended June, Infosys' Europe business 12.3 per cent on a year-on-year basis in constant currency, which is over 3 times the company average. Europe, the second largest geography for the company, contributed 31.5 per cent to the total revenue. In comparison, North America, the largest geography, grew merely 0.4 per cent and contributed 56.5 per cent to the total revenue as of Q1. "I think the growth in Europe in last multiple quarters and years is on back of a few things. We are one of the first companies a few years back to call out Europe as an opportunity. We have made, on back of that hypothesis, investments in Europe. And that has helped us win some of the very, very large and mega deals in Europe. So that has definitely helped from the growth in Europe perspective. There are consolidation deals that we have won as well in Europe. So that has helped. And over a period of time, Europe is also opening up from outsourcing perspective," Jayesh Sanghrajka, CFO, Infosys said in an analyst call. Going forward, he said there are enough opportunities in Europe. "Now whether it will continue growing beyond the company growth or not, I do not think we are giving a guide on that. But where we are standing today, we are seeing opportunity in Europe. And many of the large deals are sitting in Europe as well as the pipeline contain a good amount of large deals in Europe." Noida-based HCLTech's Europe business grew 9.6 per cent in constant currency and contributed 28.3 per cent to the total revenue as of the June quarter. In comparison, the US grew only 0.5 per cent. A leading Europe-based telecommunication company selected HCLTech to modernize its technology and operations stack. The partnership will enable zero-touch operations through hyper-automation powered by GenAI. Also, a Europe-based automotive major selected HCLTech to deploy workplace management and agentic AI solutions to enhance operational efficiency and service quality, improve customer experience, and support new technologies. Wipro's European business declined 11.6 per cent in constant currency in Q1 but the management believes the overall market remains positive. "The pipeline continues to be strong in Europe. And in the BFSI sector, specifically in Europe, we have a good pipeline. And having said that, the large Phoenix deal that we won in Q4, we are going through the final planning phases. And actually, the revenue will start coming in Q3. That can give a good momentum for us in Europe. Second, we also are staying focused on some of these deals, which are cost takeouts and vendor consolidation," Srini Pallia, CEO and MD, Wipro said in a post-earnings call. Analysts believe overall, major Indian IT firms are witnessing increased deal momentum in the European market. "This surge can be attributed to several factors: European businesses are accelerating their digital transformation efforts, seeking cost-effective solutions, and facing a shortage of skilled IT talent—all areas where Indian IT companies excel. Furthermore, these firms have successfully navigated strict European regulations like GDPR and have strengthened their local presence through acquisitions and partnerships. The ongoing uncertainties in the US market have also encouraged Indian IT companies to focus more on expanding their footprint in Europe. Additionally, all these companies are strengthening their regional presence by setting up more delivery centres, which enhances both their onshore and nearshore capabilities," said Biswajit Maity, Senior Principal Analyst at Gartner.
Russia Today
02-07-2025
- Business
- Russia Today
Russian IT sector sees Asia influx
The number of foreign IT companies applying to register their businesses in Russia surged sharply in the first half of 2025, with Asian firms leading the charge, Kommersant reported on Tuesday, citing research compiled by Kokoc Group. According to the data, around 3,000 foreign registration applications were filed in the first six months of the current year, compared to some 1,650 in all of 2024. India reportedly topped the list with more than 1,000 applications, followed by China with over 800, and Türkiye with around 150. IT firms from Africa and Persian Gulf nations are also increasingly seeking entry into the Russian market. Industry experts interviewed by the business daily attributed the surge to relatively low competition in Russia's large consumer market, rising demand for local IT solutions, and a shortage of Western software amid ongoing geopolitical shifts. Analysts also highlighted the crucial role of the growing digitalization of government services and business sectors. Foreign firms mainly target niches such as cybersecurity, cloud platforms, fintech, artificial intelligence, industrial enterprise resource planning (ERP) and customer relationship management (CRM) systems, Kommersant noted. Each country reportedly tends to focus on its traditional strengths, with China applying to register firms operating in telecommunications and fintech, and India targeting outsourcing and software development. Natalya Vozyanova, head of Asian client relations at the consulting firm TeDo, confirmed to the news outlet that there had been a notable rise in Chinese applications, adding that around 9,000 Chinese companies, primarily focused on the IT, technology, and engineering sectors, are currently registered in Russia. Interest from friendly foreign nations in the Russian IT market was evident, according to Kristina Kovalenko, CEO of Fork-Tech, who highlighted that Chinese developers find the Russian market largely untapped with respect to related hardware manufacturing. At the same time, Russian companies could face increased competition, possible price dumping, and talent migration, especially in high-margin areas, Mikhail Pryshlyak, Commercial Director of MD Audit, told Kommersant. He noted, however, that the new players could also stimulate partnerships, local integration, and demand for advanced IT services including security, DevOps, and support. Oleg Sazhin, advisor to the CEO of Content AI, noted that foreign companies are expected to face 'their own difficulties' when entering the Russian market. These include lingering distrust among local customers towards new overseas suppliers following the exit of Western vendors, as well as strict government requirements to only use software from the country's official registry.
Russia Today
02-07-2025
- Business
- Russia Today
Russian IT sector sees Asia influx — Kommersant
The number of foreign IT companies applying to register their businesses in Russia surged sharply in the first half of 2025, with Asian firms leading the charge, Kommersant reported on Tuesday, citing research compiled by Kokoc Group. According to the data, around 3,000 foreign registration applications were filed in the first six months of the current year, compared to some 1,650 in all of 2024. India reportedly topped the list with more than 1,000 applications, followed by China with over 800, and Türkiye with around 150. IT firms from Africa and Persian Gulf nations are also increasingly seeking entry into the Russian market. Industry experts interviewed by the business daily attributed the surge to relatively low competition in Russia's large consumer market, rising demand for local IT solutions, and a shortage of Western software amid ongoing geopolitical shifts. Analysts also highlighted the crucial role of the growing digitalization of government services and business sectors. Foreign firms mainly target niches such as cybersecurity, cloud platforms, fintech, artificial intelligence, industrial enterprise resource planning (ERP) and customer relationship management (CRM) systems, Kommersant noted. Each country reportedly tends to focus on its traditional strengths, with China applying to register firms operating in telecommunications and fintech, and India targeting outsourcing and software development. Natalya Vozyanova, head of Asian client relations at the consulting firm TeDo, confirmed to the news outlet that there had been a notable rise in Chinese applications, adding that around 9,000 Chinese companies, primarily focused on the IT, technology, and engineering sectors, are currently registered in Russia. Interest from friendly foreign nations in the Russian IT market was evident, according to Kristina Kovalenko, CEO of Fork-Tech, who highlighted that Chinese developers find the Russian market largely untapped with respect to related hardware manufacturing. At the same time, Russian companies could face increased competition, possible price dumping, and talent migration, especially in high-margin areas, Mikhail Pryshlyak, Commercial Director of MD Audit, told Kommersant. He noted, however, that the new players could also stimulate partnerships, local integration, and demand for advanced IT services including security, DevOps, and support. Oleg Sazhin, advisor to the CEO of Content AI, noted that foreign companies are expected to face 'their own difficulties' when entering the Russian market. These include lingering distrust among local customers towards new overseas suppliers following the exit of Western vendors, as well as strict government requirements to only use software from the country's official registry.
