R Chandrashekhar News

The bank cited personal reasons for Chandrashekhar's resgnation.

She succeeds R. Chandrashekhar on the completion of his five-year term as head of the National Association of Software and Services Companies (Nasscom).

The process of investing in technology has sort of started picking up and this trend is actually expected to really consolidate in 2018, Chandrashekhar said.

The Indian IT-BPM industry employing about 37 lakh people will have to revise the skills of about 60 to 70 percent of its current workforce to hold its position in the global software service industry in the throes of technology-led disruption, said NASSCOM at a human resource summit in Chennai.

IT body NASSCOM on Thursday said fresh hiring in the current financial year may be lower than last year as IT companies are facing pressure on margins, besides focusing on automation of jobs.

India ranks third among global startup ecosystems with more than 4,200 new-age companies, IT industry body Nasscom said Tuesday.

TCS, Cognizant and Infosys have emerged as the top employers in the IT-BPO sector, according to a list of 20 leading companies released by industry body Nasscom.

Asserting that Indian IT firms have always remained compliant with the US visa regulations, Nasscom President R Chandrashekhar said its members continue to cooperate with the US authorities in respect of any requests for information.

IT trade body NASSCOM on Thursday said revenue generated from Indian subsidiaries of global IT companies stood at USD 19 billion in 2014 and these firms were looking at expanding to small cities and towns.

"We expect that within the next couple of years, we will have the second biggest start-up ecosystem in the world," Nasscom, President, R Chandrashekhar, told reporters here.

IT-BPO industry body Nasscom has urged the government to set up a technology entrepreneur mission with an initial capital of Rs 500 crore to address funding and infrastructure issues for start-up companies.

"Over the last 2-3 years, it (start-ups scene) has really widened. All the key elements of this ecosystem are there in terms of venture capital, private equity, angel investors, mentors," Nasscom President R Chandrashekhar said in a statement.