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Tag: business

  • IT firms eye newer markets.

    Economic downturn in the US and the unpredictability of its markets is compelling IT companies to venture into hitherto unexplored markets of Africa, Singapore, Sri Lanka and West Asia. ‘De-risking’ is the new mantra for diversifying business to different locations for reducing the risk. “The flip-flop situation in the US will have more of an indirect effect on the industry here. It is likely that the effect will not be severe on Indian IT companies. But since the US industry will have to cut down their expenses in the near future, there will be pressure for outsourcing,” said the FAPCCI secretary, Mr Rajeshwar Rao.

    “As the US accounts for 60 per cent of the IT business, the situation has triggered a new wave of caution and change in target destinations among Indian companies. The shift in focus, apart from being a survival action-plan by the IT companies back home, was also met with a growing need for developing IT infrastructure in developing nations,” said a member of the IT and ITES association.

    Source : DC

  • XLRI to set up campus in city!

    XLRI to set up campus in city !

    The Chief Minis ter, Mr K. Rosaiah, was all smiles on Tuesday with two industrial giants and a top class business management institute coming forward to set up shop in the state.

    The fertiliser major Oswal Chemicals and Fertilisers will establish a `7,000-crore urea and DAP plant with a capacity of 2.2 million tonnes, while auto major
    Mahindra and Mahindra will set up an aerospace manufacturing unit in the Adibhatla aero SEZ on the city outskirts with an initial investment of `300 crore.

    The premiere business management institute, XLRI, also conveyed to the Chief Minister the decision of its governing body to open a campus at Jawaharnagar, adjacent to the BITS campus.

    The head honchos of these organisations, including
    chairman and managing director of the Oswal group, Mr Abhay Oswal, met the Chief Minister separately and got in-principal approval for their projects.

    The XLRI director Father E. Abraham and dean, Mr C.

    L. George, met the Chief Minister and sought 75 acres for the proposed campus, which was immediately agreed upon.

    Official sources said the Oswal group has sought 600 acres of land.

    Source: Deccan Chronicle

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