IT Archives - Page 4 of 4

Haryana seeks US investment in IT, defence, energy sectors

by admin | May 25, 2021 | Economy, Markets, News, Technology

Haryana Chief Minister Manohar Lal Khattar

By Arun Kumar

Washington:(IANS) Highlighting his government’s efforts to improve business environment, Haryana Chief Minister Manohar Lal Khattar has invited US investors to Haryana in sectors such as IT, renewable energy, transportation, defence and food processing.

Over the last two days, Khattar met government officials, business leaders, think tank experts, academicians and India-American community leaders in Washington DC and State of Maryland, according to an Embassy of India press release

Khattar is currently leading a 30-member delegation of Haryana officials and top Indian businesses on a visit to the US and Canada with the objective of presenting Haryana as a promising destination for doing business.

State Industries Minister Capt. Abhimanyu lauded the success of the Indian-American business community and invited them to share their experience, skills and talent for the growth and development of India.

In order to facilitate investment in the state, the Haryana government has released a new Enterprise Promotion Policy 2015. One of the key goals of this new policy is a single window clearance system. Haryana is providing VAT subsidy, interest subvention, employment subsidy, stamp duty reduction etc to further encourage investment through VISTAR scheme.

The Enterprise Promotion Policy launches an Ultra Mega Projects Scheme which will provide incentives to investment projects including allotment of more than 500 acres of land if the investment is more than $1 billion.

Some of the flagship projects where the Haryana government is inviting investments include a 100 acre Global City of Gurgaon project and an Integrated Multi Modal Logistics Hub in Southern Haryana.

A Mass Rapid Transport System as part of the Delhi Mumbai Industrial Corridor Project and a Global Economic Corridor along the 135 km long orbital road around Delhi with entertainment, tourism, medical and industrial theme parks are some other key projects.

The government has also proposed the development of Industrial Model Townships at Bidhal Lath (600 acres) and at Madina (3400 acres) under the PPP Model, where investments are sought.

A Foreign Investment & Non-Resident India (NRI) Cell will also be established to facilitate foreign investments and handle NRI related issues.

Haryana is promoting micro, small and medium enterprises by providing support to this sector.

Khattar also visited the Arlington National Cemetery here to pay tribute to the crew of the 2003 Columbia space shuttle mission, among whom was the late Kalpana Chawla. Originally from Karnal, Haryana, she was the first Indian-American astronaut.

(Arun Kumar can be contacted at arun.kumar@ians.in)

Strong demand for IT services, says Wipro’s Premji

by admin | May 25, 2021 | Corporate, Corporate Buzz, Markets, News

Azim Premji

Bengaluru:(IANS) There was a strong demand for IT services in Europe and the US where the economy gained a lot of strength, Wipro chairman and IT czar Azim Premji said on Wednesday.

“With the US economy gaining lot of strength, we are seeing strong demand for IT services globally, particularly in continental Europe,” Premji told reporters on the margins of the software major’s 69th annual general meeting here.

Noting that digital technology has emerged as a major trend in IT services, Premji said the company was investing substantially in digital domain in a big way to capitalise on the opportunities unfolding in the sector worldwide.

“We have a venture fund to invest in early stage tech start-ups. We also have enough strength (funds) in the balance sheet for strategic acquisitions,” Premji said.

Admitting that sharp fall in crude oil prices helped the country in reducing its import bill and the trade deficit, the Wipro chairman said the growth was still not felt on the ground.

“Fall in oil prices has helped country but the jury is still out on the growth of the GDP (gross domestic product). We need to, however, give the government more time,” Premji said.

Earlier, in his address at the AGM, Premji told the shareholders that he gave away nearly 40 percent of his equity holding in the company to philanthropy in two transactions, including 21 percent earlier to the Azim Premji Foundation and Azim Premji Philanthropic Initiative.

“I have given up an additional 18 percent of my equity stake in the company for charity to earmark 39 percent of my holding (valued at Rs.53,284 crore) to the charitable trust,” Premji said, drawing applause from the investors.

The 69-year-old IT czar is the first Indian to sign the Giving Pledge, sponsored by billionaires Warren Buffet and Microsoft co-founder Bill Gates to invite the world’s richest to donate majority of their wealth to charity.

“Over the last 15 years, I have tried to put this belief into action through my personal philanthropic work,” Premji told the shareholders.

The Premji-led promoter group, including his family members, holds around 73.40 percent of the equity stake in the IT outsourcing major.