Latest news with #IT
Hans India
7 hours ago
- Business
- Hans India
Lokesh sets goal to create 10L jobs in 4 yrs
Vijayawada: Minister of IT, Electronics and Human Resources Development Nara Lokesh on Tuesday issued a clear directive to officials to ensure an investor-friendly environment to accelerate the growth of IT companies, with an ambitious goal of generating 10 lakh jobs in the IT sector over the next four years. This target will be achieved through strategic focus on establishing datacenters and Global Capability Centers (GCCs) across the state, he said. During a review meeting with officials at his residence, the minister revealed that 95 prominent companies have already expressed interest in setting up GCCs and data centers in Andhra Pradesh. He emphasised the need for officials to provide seamless support and create a conducive atmosphere to expedite these investments. Highlighting the state's proactive approach, Lokesh announced that the government has signed Memoranda of Understanding (MoUs) with ANSR and Sattva companies, which are projected to provide employment to 35,000 youth. He also stressed the importance of establishing co-working spaces in all 26 districts to fuel the growth of startup companies. The minister confirmed that the Ratan Tata Innovation Hub will be inaugurated shortly, a move aimed at further encouraging the startup ecosystem. To support emerging tech ventures, he called for the establishment of regional centers in Visakhapatnam, Rajahmundry, Vijayawada, Tirupati, and Anantapur. In a significant push for advanced technology, Lokesh directed officials to take the initiative in providing the necessary infrastructure for the development of a Quantum Computer Valley in Amaravati, in partnership with global tech giants TCS, L&T, and IBM. Focusing on digital governance, Lokesh instructed officials to enhance the 'Mana Mitra' WhatsApp government services. He stated that essential certificates should be made readily available to citizens through this WhatsApp platform, further streamlining public service delivery. Additionally, the minister called for the provision of internet connectivity to 45,000 government schools and all airports in the state, underscoring the government's commitment to digital inclusion and infrastructure development. IT Secretary Katamneni Bhaskar, IT & C Special Secretary Sundar, APIIC MD Abhishikth Kishore, EDB CEO Saikanth Varma, RTGS CEO Prakar Jain, and APTS MD Suryateja, and others also attended.
Globe and Mail
9 hours ago
- Business
- Globe and Mail
Asia Pacific's Demand for IT and Business Services Slows in Q2, ISG Index™ Shows
Asia Pacific's spending on IT and business services slowed in the second quarter as enterprises remained cautious in the face of uncertain macro conditions, according to the latest state-of-the-industry report from Information Services Group ( ISG) (Nasdaq: III), a global AI-centered technology research and advisory firm. The Asia Pacific ISG Index™, which measures commercial outsourcing contracts with annual contract value (ACV) of US $5 million or more, shows second-quarter ACV for the combined market (both cloud-based XaaS and managed services) was down slightly (0.3 percent) versus the prior year, to US $4.7 billion. Sequentially, the market fell 12 percent compared with the first quarter. It was the first time the Asia Pacific market pulled back since the second quarter last year. Fueled by interest in AI, demand for cloud-based services remained robust, up 16 percent year on year, to US $3.9 billion, even as demand slowed 15 percent from the first quarter. Managed services, meanwhile, slumped 40 percent, to US $823 million, but rose 6 percent against the first quarter. Within the XaaS segment, infrastructure-as-a-service (IaaS) ACV advanced 17 percent, at US $3.4 billion, while software-as-a-service (SaaS) ACV grew 13 percent, to US $500 million. In managed services, IT outsourcing (ITO) ACV fell 46 percent, to US $539 billion, with even the largest and fastest-growing service area, application development and management (ADM), down more than 30 percent. Business process outsourcing (BPO) also had a weak quarter, down 34 percent, to US $133 million, with only customer engagement and facilities management services showing growth. Engineering, research and development (ER&D) services didn't fare much better, down 15 percent, to US $152 million. During the quarter, 69 managed services contracts were awarded, down 18 percent year on year. Among industries, the region's largest industry for sourcing—banking, financial services and insurance (BFSI)—was up 1.4 percent. Travel, transportation and leisure and retail both generated double-digit growth off smaller bases. All other sectors were down by double digits. Geographically, South Korea was the only market that grew, albeit off a small base. Australia-New Zealand was down 33 percent, India was down 16 percent and Japan was down 35 percent. 'Macroeconomic and geopolitical uncertainty is really taking a toll on the Asia Pacific market at the moment. The only bright spot right now is AI, which has companies investing in cloud services to take advantage of the massive computing power needed to run AI at scale,' said Michael Gale, partner and regional leader, ISG Asia Pacific. 'Given the quarter-over-quarter improvement we saw in managed services, we hope to see a turnaround in the overall market during the second half.' First-Half Results Asia Pacific's combined market ACV in the first half rose 4.3 percent versus the prior year, to US $10.1 billion. All the growth can be attributed to the XaaS segment, which rose 17 percent, to US $8.5 billion. Within XaaS, IaaS was up 17 percent, to US $7.4 billion, while SaaS rose 16 percent, to US $1.0 billion. Managed services, meanwhile, declined 34 percent, to US $1.6 billion. All its component pieces were down double digits, including ITO, down 31 percent, to US $1.1 billion; BPO, down 33 percent, to US $288 million, and ER&D down 51 percent, to US $175 million. The 126 managed services contracts awarded in the first half were down 16 percent from the prior year. Among industries, the largest sector for outsourcing, BFSI, was down 16 percent, while the second largest, manufacturing, was off 19 percent. Among geographic markets, only India managed growth in the first half, up 2.4 percent. 2025 Global Forecast For the full year, ISG is maintaining its forecast of 1.3 percent revenue growth for managed services, reflecting a stabilizing tariff environment but also continued weakness in discretionary spending. At the same time, ISG is raising its previous growth forecast for cloud-based XaaS by 300 basis points, to 21 percent, based on continuing strong demand for AI-driven transformation. About the ISG Index™ The ISG Index™ is recognized as the authoritative source for marketplace intelligence on the global technology and business services industry. For 91 consecutive quarters, it has detailed the latest industry data and trends for financial analysts, enterprise buyers, software and service providers, law firms, universities and the media. The 2Q25 Global ISG Index results were presented during a webcast on July 10. To view a replay of the webcast and download presentation slides, visit this webpage. About ISG ISG (Nasdaq: III) is a global AI-centered technology research and advisory firm. A trusted partner to more than 900 clients, including 75 of the world's top 100 enterprises, ISG is a long-time leader in technology and business services that is now at the forefront of leveraging AI to help organizations achieve operational excellence and faster growth. The firm, founded in 2006, is known for its proprietary market data, in-depth knowledge of provider ecosystems, and the expertise of its 1,600 professionals worldwide working together to help clients maximize the value of their technology investments.
The Hindu
15 hours ago
- Business
- The Hindu
95 firms propose to invest ₹1 lakh crore in Andhra Pradesh, says Lokesh
Minister for HRD, IT and Electronics Nara Lokesh on Tuesday said 95 leading companies had so far proposed investments to the tune of ₹1 lakh crore in the State's IT, electronics, global capability centres (GCC) and data centre sectors. Addressing a review meeting with officials of IT, Electronics and Real Time Governance Society (RGTS) at his residence in Undavalli, the Minister said that the authorities should expedite issue of necessary permissions and facilitate infrastructure so that these firms can quickly establish their operations. He urged them to work towards generating 10 lakh jobs over the next four years through expansion of IT, electronics, data centres and GCCs. Responding to the information given by the officials that the land allotment process to companies like TCS and Congnizant in Visakhapatnam had been completed, Mr. Lokesh directed them to ensure swift commencement of their operations. Referring to his recent visit to Bengaluru, where he signed MoUs with ANSR and Sattva Groups, the Minister said that their projects in Andhra Pradesh would create 35,000 jobs. He also wanted the officials to create co-working spaces across the 26 district centres for small enterprises coming to the State. He said the proposed Ratan Tata Innovation Hub, which is being developed to foster modern innovation and to promote startups in the State, would be inaugurated soon and asked the officials to take necessary steps to establish regional spoke centres in Visakhapatnam, Rajamahendravaram, Vijayawada, Tirupati and Anantapur. He said that in alignment with the Amaravati Quantum Valley, partnerships with companies like TCS, L&T and IBM had already been formed and the officials should finalise essential infrastructure for the partners. Referring to the proposed 'Drone City' project at Orvakal in Kurnool district, spanning 400 acres in the coming year, Mr. Lokesh instructed the officials to create an ecosystem to support it. He also wanted wide promotion to the 'Mana Mitra' WhatsApp governance services launched by the government. He said that out of the total 702 State services, 535 of them were currently being offered through 'Mana Mitra' app. He said steps should be taken to ensure internet connectivity in all the 45,000 government schools and uninterrupted phone connectivity at airports in Visakhapatnam, Vijayawada, Tirupati and Rajamahendravaram.
Gulf Today
16 hours ago
- Science
- Gulf Today
Expanding and melting glacial lakes pose huge dangers
Glacial lakes and water bodies across the Himalayan region have expanded by 11% since 2011, according to a report by India's Central Water Commission (CWC). The report, highlighted in an India Today (IT) analysis, underscores the growing risk of Glacial Lake Outburst Floods (GLOFs) as climate change accelerates glacial melting and lake expansion largely driven by global warming. Another IT report presents startling facts that melting glaciers are creating huge lakes in Himalayas and could burst anytime. This is according to satellite analyses by Suhora Technologies, which monitors 33,000 lakes across the Indus, Ganga, and Brahmaputra basins, confirm accelerated growth in high-altitude lakes due to rapid glacier melt. Studies reveal that glacial lakes in the Hindu Kush-Karakoram-Himalaya region – home to the world's largest ice reserves outside the poles – have grown by over 10% in area since 1990, with the Ganga basin witnessing a 22% surge in lake numbers. Rising global temperatures have pushed lake formation to elevations above 5500 meters, reflecting glacier retreat to higher altitudes. Over 76% of Himalayan glacial lakes are end-moraine-dammed, a fragile structure prone to breaches. A new study with ETH Zurich, published in the journal Science, finds that if global warming exceeds the Paris Climate Agreement targets, the non-polar glacier mass will diminish significantly, as per an ETHZ press release. Even if global temperatures were stabilised at today's level of 1.2°C, an estimated 39 per cent of global glacier mass would still be lost compared to 2020 levels – contributing over 10 centimetres to global sea-level rise. The study states that, however, if warming is limited to 1.5°C, at least 54% could be preserved — more than twice as much ice as in a 2.7°C scenario. Even if the rise in global temperatures were to stabilise at its current level, it is projected that the world would lose around 40% of its glaciers. If global warming can be limited to +1.5 °C, it may be possible to preserve twice as much glacier ice (54%) as in a scenario where temperatures rise by +2.7 °C (only 24%). For the study, an international team of 21 scientists from 10 countries used eight glacier models to calculate the potential ice loss from more than 200,000 glaciers outside Greenland and Antarctica. The team evaluated a wide range of global temperature scenarios, assuming that temperatures would remain constant for thousands of years in each scenario. In all scenarios, the glaciers lose mass rapidly over decades and then continue to melt at a slower pace for centuries – even without additional warming. This long-term response means glaciers will continue to feel the effects of today's heat far into the future, gradually retreating to higher altitudes before reaching a new equilibrium. Melting glaciers reveal the reality of global warming, the study says. And, beyond contributing to sea-level rise, glacier loss has far-reaching consequences. It threatens freshwater availability, increases the risk of glacier-related hazards such as floods and landslides, and jeopardizes glacier-fed tourism economies. These cascading impacts will be felt across regions and generations. While other studies have limited to the year 2100 estimate that around 20% of today's glacier mass will be lost regardless of future warming, the new study reveals that nearly twice as much would vanish under present-day conditions when multi-centennial timescales are considered. The IT analysis points out that in India the CWC began monitoring glacial lakes in 2009 to enhance assessment and preparedness strategies. In its 2011 inventory, the CWC recorded 2028 glacial lakes and water bodies larger than 10 hectares. Since then, using advanced tools like remote sensing, satellite imagery, and cloud platforms, the CWC has prioritised monitoring 902 critical water bodies. This latest report from September 2024 reveals a 10.81% area increase in 544 glacial lakes and 358 water bodies over the past decade. While China shows the highest rate, similar trends in India show that 67 lakes have grown significantly. The analysis also underscores recent data from the International Centre for Integrated Mountain Development (ICIMOD) highlights the growing threat of GLOFs. ICIMOD's analysis shows that over 70% of the 700 recorded GLOFs events since 1833 have occurred in the last 50 years, illustrating the accelerating impact of climate change on glacial stability.
Yahoo
a day ago
- Business
- Yahoo
Company recognised for its services in national awards
A Fareham IT company has been recognised nationally for its services. Matrix IT was listed as the number one managed service provider in Hampshire in the 2024 Channel Futures MSP 501 rankings. The company was also ranked fifth overall in the UK. The listings honour technology companies, according to their growth, profitability, and innovation. The company's growth led to the opening of its new 3,800 sq ft headquarters at Main Barn on the Cams Hall Estate. READ MORE: Student's AI-powered food safety app could 'bring jobs to Southampton' For more information, go to the Matrix IT website at Matrix IT managing director, Matt Faulkner, said: "We are incredibly honoured to be recognised as the number one managed service provider in Hampshire as well as one of the top five in the UK. "This achievement is a testament to the hard work and dedication of our entire team. "Our commitment to delivering exceptional service and innovative solutions for our clients remains our top priority."
