Infosys allays layoff fears; Freshworks cuts losses by 91%
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Infosys to hire 20,000 grads in FY26 amid IT job loss fears
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The company has trained 275,000 employees in AI so far.
Productivity has jumped 5–15% in software development, with even higher gains in support functions.
Its Finacle platform, blending AI tools with human oversight, has delivered a 20% boost.
Parekh insists that people remain central to Infosys' growth, stating that human expertise is critical, especially for complex and integrated systems.
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Freshworks posts strong Q2, lifts full-year forecast
What's driving it:
AI is central:
Other highlights:
Customers paying over $5,000 in ARR rose 10% year-on-year to 23,975.
Total customers exceeded 74,000 across 120+ countries.
Net dollar retention stood at 106%.
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MS Dhoni backs new-age insurer Acko, joins as brand face
Driving the news:
The pull:
Go Digit counts Virat Kohli and Anushka Sharma as both investors and brand ambassadors.
With Dhoni now on Acko's roster, two former India captains are effectively facing off in the insurance market.
Strategic signal:
Sharpsell raises Rs 30 crore to scale AI-led sales
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MeitY flags underperformance in PLI fund utilisation
Where it stands:
MeitY had Rs 16,549 crore to spend but managed to use only Rs 12,847 crore.
The biggest shortfall came from semiconductor and display manufacturing incentives.
Fund release is tied to companies meeting strict milestones, which MeitY says is 'beyond its control.'
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What's being done:
Big picture:
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Indian electronics firms go global to win Western clients
Driving the news:
What's happening:
Following suit:
Syrma SGS, Dixon Technologies, Kaynes, and Cyient are inking deals in the US, Austria, Germany, and South Korea.
Calcom Vision has pivoted to exports, with two US firms already auditing its new lighting and ceiling fan facility.
Infosys confirmed plans to hire thousands, even as the IT sector stares at a spate of layoffs. This and more in today's ETtech Top 5.■ MSD dons investor cap■ Surplus PLI sops■ Indian makers look westInfosys CEO Salil ParekhEven as India's IT sector tightens its belt, Infosys is moving in the other direction. CEO Salil Parekh says the company will hire around 20,000 college graduates in FY26, after onboarding 17,000 in the first quarter alone.The move comes against a grim backdrop. TCS recently announced it would shed more than 12,000 roles , the largest layoff by an Indian IT firm to date. Industry body Nasscom has warned of a fresh wave of 'workforce rationalisation' as automation, cloud-native delivery, and changing client demands reshape the sector.Infosys, however, is betting on a different playbook: automation paired with aggressive reskilling.With salary hikes for Q4 and Q1 completed, the next round of compensation will be announced 'at the right time.' For now, Infosys' mix of reskill, automate, and still hire, offers a rare note of optimism in a cautious IT market.Dennis Woodside, CEO, FreshworksFreshworks delivered a solid June quarter , with revenue climbing 18% year-on-year to $204.7 million. Net loss narrowed sharply to $1.7 million from $20.1 million a year ago, as the Nasdaq-listed software-as-a-service (SaaS) firm tightened costs and captured higher-value clients. The company also nudged up its full-year revenue forecast to $822.9–828.9 million.The Chennai- and San Mateo-based firm is riding momentum in the mid-market and enterprise segments, which now contribute over 60% of annual recurring revenue (ARR). Operating expenses dipped 4% year-on-year, while non-GAAP operating income surged to $44.8 million.CEO Dennis Woodwide stated that businesses are gravitating toward Freshworks for 'AI-powered customer and employee experiences.' It's Freddy suite, including Freddy Copolot and the new Agent Studio, has crossed $20 million in ARR.Freshworks said its diversified customer base and minimal sector exposure help buffer risks, including potential US tariff volatility.ETtech Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and employees.Interested? Reach out to us at spotlightpartner@timesinternet.in to explore sponsorship opportunities.Acko Insurance CEO Varun Dua with MS DhoniFormer Indian cricket captain MS Dhoni has invested in digital insurer Acko via his family office, Midas Deals, and will also serve as its brand ambassador. Acko described the partnership as 'strategic' but did not disclose the investment size.Dhoni said Acko's 'tech-first, customer-centric' model reflects how a new India wants to engage with insurance: fast, digital, and frictionless. Acko currently serves over 70 million users and handles around two million claims annually across motor, health, and travel.The move comes as celebrity power reshapes the insurtech space.For Acko, the celebrity tie-up is aimed at deepening customer trust and expanding digital distribution. The push coincides with improving regulatory clarity in insurance, as direct-to-consumer (D2C) sonumer platforms race to capture India's online-first market.Hanuman Kamma, cofounder, Sharpsell AIAI-led sales enablement startup Sharpsell has raised Rs 30 crore , including Rs 10 crore from Equentis Angfel Fund – its largest single-company bet yet. It previously secured funding from Cornerstone Venture Partners and Mistry Venture, among others.Sharpsell provides AI-personalised sales content and updates, synthetic data-backed training for sales teams, and sector-specific solutions across BFSI, auto, consumer electronics and pharma. The platform already counts a few lakh users.India's IT ministry returned Rs 1,574 crore from its FY24 budget for production-linked incentive (PLI) and chip manufacturing schemes, blaming slow progress by participating companies . A parliamentary panel was unimpressed, calling the ministry's explanation 'not understandable' and urging it to take greater responsibility for results.The ministry has informed the panel that it has scaled down budget estimates to match actual capacity. The committee, however, wants stronger coordination and tighter monitoring to prevent chronic underspending.The episode highlights the gap between India's big-ticket tech ambitions and the execution challenges of its PLI and semiconductor push. As the country races to build a domestic electronics manufacturing ecosystem, the credibility of these incentive schemes will face sharper scrutiny.India's contract manufacturers are venturing abroad, snapping up overseas companies to tap into Western customer networks.As global supply chains shift away from China, these firms are using acquisitions and partnerships to break into high-value sectors like defence, aerospace, and industrial automation.Amber Group is leading the charge, spending over Rs 400 crore for a controlling stake in Israel-based Unitronics. The deal gives Amber both the certifications and direct access to Western defence clients that would otherwise take years to secure.The rush abroad comes as tariff uncertainty reshapes sourcing strategies. Yet, analysts warn that frequent reinvestment may test patience. 'Returns are being deferred,' said one expert, highlighting investor unease over slow payoffs.
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