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Will Joe Biden’s victory accelerate India’s IT sector’s growth?

by | Nov 12, 2020 | Digital Transformation, IT Services

Under Biden's regime, the Indian technology industry is expected to extend its presence in the US to drive local investments and address skill-gap.
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The selection of Joe Biden as the United States’ next President is likely to be a new starting point for India’s information technology industry. Under Biden’s leadership, industry onlookers hope that restrictions around H1-B visa will be relaxed soon, enabling many Indian technology professionals to work in the US.

While the policy matters may not change immediately, Biden’s presidential campaign statements reflect his strong will toward a more focused approach in strengthening US-India bilateral economic relationship. Looking back at 2017,  the outgoing Donald Trump’s government squeezed the US immigration policy, making it challenging for Indian tech companies to send their staff to their US offices for training and work.

According to NASSCOM, the industry association for the IT and IT-enabled products and services sector in India, since 2005, the bilateral trade between India-US increased by over 400%, with a total increase in value US $37 billion from 2005 to US $149 billion in 2019. NASSCOM states that the technology sectors of both countries have played a critical role in driving this bilateral trade.

Major enterprises in India and the US focusing on digital transformation and immersive technologies as part of their growth strategy. In view of this, the IT Services are sitting on a hotbed of opportunities to help businesses harness digital channels and modernize their IT infrastructure to innovate faster and reimagine the business landscape. (See: Salary hikes at IT firms on cards as COVID disruption eases)

In Joe Biden’s regime, the favorable trade ecosystem could also encourage American technology companies such as Microsoft, Amazon, Google, HP, IBM, Facebook, and Uber to make further investments in India and develop their outsourcing centers to leverage the Indian talent. (See: Tech Cos take M&A route for digital transformation supremacy)

India as an emerging IT power

India’s IT industry is currently experiencing tremendous growth due to the rapid demand for cloud-based remote-working and transformative solutions. There is an enormous rush to upgrade digital infrastructure, leveraging technologies such as big data, artificial intelligence, and automation. And numerous Indian IT companies such as TCS, Infosys, HCL, and Wipro are broadening their horizons across the US to accelerate their growth. (See: Growth of Indian IT sector set for revival in 2021 )

Over the last few years, the Indian technology industry has made a more profound presence in the US economy, driving local investments, job creation, community services, and upskilling their US employees. For instance, TCS has been ranked among the top two US recruiters of IT services talent. The company has hired over 21,500 employees in the last five years, taking its total US workforce strength to about 40,000 employees.

The Mumbai-based company has also mentored more than 25,000 students across the US and Canada, enabling them to learn new-age technology skills.

Similarly, India’s second-largest IT company, Infosys, is also betting big on its US expansion plans. During the last three years, Infosys has unveiled six technology and innovation centers in the US across Indiana, North Carolina, Connecticut, Rhode Island, Texas, and Arizona. The Bangalore based IT firm has plans to hire 12,000 American workers by 2022 to support the growing client base, who are modernizing their IT infrastructure in the wake of increasing remote-work trend.

Wipro, too, is not far behind when it comes to expanding to the US. The company is setting up new offices of its strategic design arm, Designit, outside of conventional presence in Silicon Valley and New York City. Through its design arm, the company works with leading enterprises such as BMW, Cisco, FedEx, and GM to design innovative business offerings and processes.

Another tech major, HCL is also beefing up its capabilities in the US to build information security and cyberthreat intelligence solutions.

Additionally, there are many American technology companies such as Microsoft, Amazon, Google, HP, IBM, Facebook, and Uber that continue to make substantial investments in India and develop their outsourcing centers to leverage the Indian talent

Opportunity to address the talent gap in the US

According to Nasscom, one of the significant challenges being confronted by the US economy is the lack of STEM (science, technology, engineering, and mathematics) professionals in the country. The US has millions of STEM sector jobs that remain vacant as it doesn’t have enough workforce to fill those positions.

NASSCOM says that it looks forward to working together with the new US Administration, finding solutions to the STEM skills gap, and enabling America to be more competitive, grow, and create more jobs.

The US government is increasingly facing demand and skills gaps in several IT sector branches, and under Biden’s leadership, the US is anticipated to call for concrete steps to bridge those gaps. And given India’s strong talent pool in this area, this will certainly offer more opportunities for the country.

Nevertheless, a lot will be dependent upon the transition process to the newly elected government, local sentiments of people, and the dollar to rupee currency stability in value.

 

 

MORE FROM BETTER WORLD

India to keep leading Sustainable Energy Agenda

India to keep leading Sustainable Energy Agenda

The Minister of Petroleum and Natural Gas & Steel Dhamendra Pradhan has said that India will continue to lead the global sustainable energy agenda. Delivering the key note address at the TERI’s World Sustainable Development Summit 2020 on ‘Energy Future Road Map’ here today, the Minister said “We, in India, are in the midst of a major transformative shift in our energy sector, both in scale and complexity and also the interdependence across different systems. The trajectory to end energy poverty in India, as compared to the rest of the world, is based on our special national circumstances. The right mix of enablers are being put in place to ensure that the energy transition is secure, affordable, reliable and sustainable.” He added, “to end energy poverty in the country, we will remain cognizant of the need to root economic development firmly to achieve the 2030 UN Sustainable Development Goals and commitments made at COP 21.”

Briefing about energy requirements, the Minister said “India is now the third largest energy consumer after the US and China. While our energy demand increased to 882 million tonnes of oil equivalent (Mtoe) in 2017, the per capita consumption of energy is still 30% of the global average. Our energy consumption is projected to grow at 4.2 percent per annum up to 2035. India’s share of the total global primary energy demand is set to roughly double to about 11 percent by 2040, driven by strong economic development. In India, we are finding ways to achieve the twin objectives of more energy availability and less carbon through a healthy mix of all commercially-viable energy sources.”

Pradhan added that despite our system-wide energy transition measures, crude oil would continue to play a critical role at this stage of development in meeting country’s energy requirements. He said the Government has set out a road map for reducing India’s crude oil imports by 10% by 2022. “We are in the process of developing new strategies and initiatives to achieve this target. We are working towards transformation to a gas-based economy, tapping into indigenously produced biofuels, apart from adopting renewable energy and energy efficiency measures, to achieve the much-needed carbon reductions. As part of the energy transition, decarbonization of the energy sector is picking up momentum in India” Pradhan said. The Minister also stated that government is working to improve energy efficiency and productivity, demand substitution, improving refinery processes and promotion of bio and alternate fuels.

Dharmendra Pradhan also said “the biggest game-changer in our drive to bring about greater environmental sustainability and flexibility in the energy system is through the rapid deployment of natural gas in our energy mix”. He also added “we are advancing our collaboration with countries, such as Brazil and the US, to improve blending technologies in transport sector. To reduce vehicular pollution, BS VI quality fuel, equivalent to Euro 6 standard, will be supplied in the entire country from 1 April this year. Given the abundance of biomass in the country, the use of Compressed Bio-Gas (CBG) will be promoted in a big way in automotive, industrial and commercial uses in the coming years.”

The Minister further said that in the global drive to secure sustainable energy, India is defining new pathways keeping in view its unique energy needs. “India will continue to play an active role in leading the global sustainable energy agenda. Our commitment to keep carbon footprint to low levels remains unwavered as we pursue to enhance energy footprint in the country” He added.

On the occasion, Dharmendra Pradhan also released a report ‘Towards a low carbon steel sector’ – Overview of the changing market, technology and policy context for Indian steel.

PM says Jal-Shakti is taking rapid strides

PM says Jal-Shakti is taking rapid strides

In Mann Ki Baat today Prime Minister Narendra Modi said Jal Shakti Campaign is taking rapid, successful strides with the aid of public participation. He shared few extensive and innovative water conservation efforts under way, in every corner of the country.

Mentioning about Jalore district in Rajasthan he said, “There, two historical step wells had turned into storehouses of garbage & dirty water. But one fine day, hundreds of people from Bhadraayun & Thanawala Panchayats took a resolve to rejuvenate them, under the Jal Shakti Campaign. Much before the rains, people immersed themselves in the task of cleaning out the accumulated filthy water, garbage and morass. For this campaign, some donated money; others their labour & sweat. As a result, these step wells have turned into their lifelines now.”

 

Similarly, Saraahi Lake in Barabanki Uttar Pradesh, was brought to life by the collective efforts of Villagers. Another example of Public participation is Village Suniyakot along the Almora-Haldwani Highway in Uttarakhand. Here villagers took it upon themselves to ensure that water reached their village. People raised money, donated labor. A pipe was laid up to the village and a pumping station was set up. Thus decade old problem of water crisis was solved.

Prime Minister urged everyone to share their stories of such endeavors of water conservation and water harvesting by using #Jalshakti4India.

Jal Shakti Abhiyan—a campaign for water conservation and water security commenced last monsoon in July, 2019. The campaign focused on water stressed districts and blocks.

IEA review of India’s energy policies is out

IEA review of India’s energy policies is out

In-depth Review of India’s Energy Policies report by International Energy Agency (IEA) was launched in New Delhi today by Dharmendra Pradhan, Minister of Petroleum and Natural Gas & Steel, Pralhad Joshi, Minister of Coal, Mines and Parliamentary Affairs, Raj Kumar Singh, Minister of State (I/C) for Power and New and Renewable Energy, Rajiv Kumar, Vice Chairman, Niti Aayog, Ambassadors, Dr Fatih Birol, Executive Director, International Energy Agency, and Amitabh Kant, CEO, Niti Aayog.

Thanking Dr. Fatih Birol and his IEA team for coming up with a comprehensive Report covering India’s energy sector in its entirety, Pradhan said that IEA’s findings are a vindication of the significant advances made in realizing the energy vision enunciated by Prime Minister Narendra Modi, anchored by Energy Access, Energy Efficiency, Energy Sustainability and Energy Security, with Energy Justice at its core.

Pradhan said that India is now the third largest energy consumer in the world. India is in the midst of a major transformative shift in its energy sector. The energy polices already put in place by the Government and also those on the anvil, clearly demonstrate our determination to embrace this energy transition in a sustainable and responsible manner.

Pradhan said India is now the third largest energy consumer in the world. Pix: PIB

The Minister said that a number of path breaking initiatives launched by Indian Government since 2015, have redefined India’s commitment to sustainable energy. “Our key challenge as a developing country, with per capita energy consumption below the global average, is to meet the growing demand for energy. India made great strides in recent years towards achieving universal access to modern energy, including clean cooking and electricity, affordable, secure and cleaner energy for its people. The Report captures well the progress made in achieving sustainable energy for all, as reflected in the UN Sustainable Development Goal 7 (SDG 7). It does also highlight the persisting challenges to be focused in the coming days,” he added.

Talking about the Ujjwala Yojana, Pradhan said that the remotest corners of India have been touched for cleaner fuel access under it. “We are also sharing our experience with our friends in Africa and Asia to enable them to benefit from the best practices in promotion of LPG. I do recognize that we have more ground to cover and also to ensure that the initiatives are implemented for achieving universal coverage in the country,” the Minister said.

Pradhan said that India’s transformation to a gas-based economy and developing indigenously produced biofuels, apart from renewable energy and energy efficiency measures, can potentially achieve the much-needed carbon reductions. As part of the energy transition, decarbonisation of the energy sector is picking up momentum in India. “Given India’s development imperative, our thrust is on building oil and gas infrastructure to ensure access to affordable energy to all our citizens. The report notes that India is moving towards a gas-based economy,” he said.

Pradhan said that an estimated investment of 100 billion dollar in oil and gas infrastructure has been lined up. The gas pipeline network will soon be covering the length and breadth of the country; from Kutch in Western India to Kohima in the East, and from Kashmir in the North to Kanyakumari in the South. “In yet another important decision, our Government has approved viability Gap Funding/ Capital Grant at 60 percent of the estimated cost of Rs 9265 crore for the North East gas grid project to develop gas pipeline grid of 1656 Km in the eight States of the North-eastern region,” he said.

The Minister said that We are aggressively working to build City Gas Distribution Network covering more than 400 districts of India. This network will serve 72% of India’s population with cleaner and affordable gas over more than 50 % of India’s geography. Talking about the proposed Workshop on Natural Gas on 23 January in New Delhi, he said that it will bring together for the first time all relevant stakeholders under one roof. “I am confident that these initiatives in the gas sector would bring about a transformative change in India’s energy landscape,” Pradhan said.

The Minister said that the Report acknowledges Government’s efforts in making energy security as a prime policy priority, and recognizes the efficiency achieved due to Government’s relentless march in undertaking tectonic reforms in the energy sector and continued pursuit of market-based solutions. He said “We have taken note of IEA’s recommendation for reinforcement of India’s oil emergency response policy. Enhancing international engagement on global oil security issues is already an active goal being pursued by my Ministry. Energy has become an essential commodity in our bilateral trade engagements with several key trading partners and in positioning India as an important strategic player in global energy landscape.”

Talking about the diversification of oil sources and development of alternate resources of energy as such bio-fuel, he said that these are being undertaken on an accelerated mode. “We are on the way to achieve 20% ethanol blending in petrol and 5% bio-diesel in diesel by 2030. Indeed, to promote energy sustainability, our new National Biofuel policy focuses on waste-to-wealth creation and targets to generate various types of bio-fuels from agriculture residue and municipal waste,” Pradhan said.

Expressing deep concerned about the crude oil price volatility, the Minister said that today, we are meeting in the backdrop of rising tensions in the Middle East and its impact on stability and security in the region.

He said “We have taken several measures to ensure investor friendly environment. IEA has noted that during the period 2015 to 2018, investments in the energy sector in India recorded the second highest growth in the world. We are happy that global oil and gas majors like Saudi Aramco, ADNOC, BP, Shell, Total, Roseneft and ExxonMobil are making their significant presence in India.”

News source: PIB. 

ONGC leads CSR spend among oil PSUs

ONGC leads CSR spend among oil PSUs

Union Minister for Petroleum and Natural Gas Dharmendra Pradhan in a written reply in the Lok Sabha has provided the corporate social responsibility (CSR) expenditure details of Oil PSUs for the last three years. ONGC continues to lead the tally with a CSR spend of Rs 615 crore in 2018–19, recording a growth of 22% in the spend when compared to the spend of Rs 503 crore in 2017–18.

Oil PSUs have been undertaking CSR interventions around their work centers, earmarking 2% of their profits for CSR projects. CSR activities are undertaken under the heads identified under Schedule VII of the Companies Act 2013 with special focus on health (nutrition, sanitation, and drinking water), education, skill development, rural development, women empowerment, environment centric initiatives and care for the elderly and differently abled persons.

The CSR expenditure made by following Oil PSUs during the last three years are given below:

All figures are in Rs crore.

The project / activities wise details of the funds allocated and spent on the development and other works in various districts of the country including in Rajasthan, Maharashtra, Tamil Nadu and on water recharge and water harvesting in Gujarat during the last 3 years are available on the respective websites of the Oil PSUs.

CSR activities are undertaken by Oil PSUs themselves or through agencies/Departments of Central/State Governments as per their approved procedures.

Power Grid, Mahindra bag top CSR awards

Power Grid, Mahindra bag top CSR awards

President Ram Nath Kovind speaking at the CSR awards ceremony.

The President of India, Ram Nath Kovind, presented the National Corporate Social Responsibility Awards (NCSRA) in New Delhi today. The NCSRA has been instituted by the Ministry of Corporate Affairs to recognize outstanding contribution in the field of Corporate Social Responsibility (CSR).

Speaking on the occasion, the President noted that those sections of society that need the helping hand most are among the main beneficiaries of the CSR activities. He said that the corporations have, thus, made a worthy contribution towards the national goals. They are helping the nation progress towards the cherished goal of building a more equitable society. They have focused on sustainable projects creating a long-term impact.

The President said that broadly, CSR initiatives have been aligned with the national priorities such as public health, education, livelihoods, water conservation, sanitation, and natural resource management. He expressed hope that innovative solutions to persisting development challenges will emerge from the CSR activities.

The President also noted that the government is sensitive about the need to calibrate the CSR regime to make it more effective. In September, the scope of the CSR activities was widened to include more categories of research incubators. This thrust on research and development will immensely help innovators. He said that it is equally important to internalize social welfare in the corporate culture. He urged upon corporate to motivate their employees and sensitize them to this higher calling in service of the marginalized sections of society. He said that this single step will generate enough goodwill for wealth creators among ordinary people.

National CSR Awards have been instituted to recognize the Corporates whose initiatives in the area of CSR were aimed at achieving inclusive growth and sustainable development. The companies were awarded based on their strategic approach in CSR and its efforts in challenging circumstances, towards aspirational districts, difficult terrains/disturbed areas and national priority areas. Based on the submissions by the companies and reports of the independent assessment by CSR experts and the jury, 19 award winners and 19 honorable mentions across the three award categories were announced as per the list.

Winners in different categories:

S. No. Award Category Sub-category Name of Company
Corporate Award for Excellence in CSR CSR spend above INR 100 Crores Power Grid Corporation of India Limited
Corporate Award for Excellence in CSR CSR spend between INR 10 Crores 100 Crores Mahindra & Mahindra Limited
Corporate Award for Excellence in CSR CSR spend between INR 1 Crores 10 Crores Edelweiss Financial Services Limited
Corporate Award for Excellence in CSR CSR spend below INR 1 Crore Paranjape Autocast Pvt. Ltd.
CSR in Challenging Circumstances North India SRF Limited
CSR in Challenging Circumstances North-East India CRISIL Limited
CSR in Challenging Circumstances East India Bharat Financial Inclusion Limited
CSR in Challenging Circumstances West India Technip India Limited
CSR in Challenging Circumstances South India The Andhra Pradesh Mineral Development Corporation Limited
Contribution to the National Priority Areas Education Hindustan Petroleum Corporation Limited
Contribution to the National Priority Areas Skill Development and Livelihoods Hindalco Industries Limited
Contribution to the National Priority Areas Agriculture & Rural Development Mahindra and Mahindra Limited
Contribution to the National Priority Areas Health, Safe Drinking Water and Sanitation Mahanadi Coal Fields Limited
Contribution to the National Priority Areas Environment, Sustainable Development & Solar Energy Power Finance Corporation Limited
Contribution to the National Priority Areas Women & Child Development Indian Oil Corporation Limited
Contribution to the National Priority Areas Women & Child Development JSW Energy Limited
Contribution to the National Priority Areas Promotion of Sports Central Coalfields Limited
Contribution to the National Priority Areas Slum Area Development Equitas Holdings Limited
Contribution to the National Priority Areas Support to Differently abled Minda Corporation Limited

 

Honorable Mentions in different award categories: 

S. No. Award Category Sub-category Name of Company
Corporate Award for Excellence in CSR CSR spend above INR 100 Crores ITC Limited
Corporate Award for Excellence in CSR CSR spend above INR 100 Crores Tata Steel Limited
Corporate Award for Excellence in CSR CSR spend between INR 10 Crores 100 Crores National Aluminum Co. Limited
Corporate Award for Excellence in CSR CSR spend between INR 10 Crores 100 Crores Maruti Suzuki India Limited
Corporate Award for Excellence in CSR CSR spend between INR 1 Crores 10 Crores Tata Technologies Limited
CSR in Challenging Circumstances East India Hindustan Copper Limited
CSR in Challenging Circumstances East India Mecon Limited
CSR in Challenging Circumstances West India Adani Ports and Special Economic Zone Limited
CSR in Challenging Circumstances South India Mineral Exploration Corporation Limited
Contribution to the National Priority Areas Education Mahindra and Mahindra Limited
Contribution to the National Priority Areas Skill Development and Livelihoods JSW Steel Limited
Contribution to the National Priority Areas Agriculture & Rural Development HDFC Bank Limited
Contribution to the National Priority Areas Health, Safe Drinking Water and Sanitation Tata Sponge Iron Limited
Contribution to the National Priority Areas Health, Safe Drinking Water and Sanitation ITC Limited
Contribution to the National Priority Areas Environment, Sustainable Development & Solar Energy Schneider Electric IT
Contribution to the National Priority Areas Women & Child Development Rail Vikas Nigam Limited
Contribution to the National Priority Areas Promotion of Sports IndusInd Bank Limited
Contribution to the National Priority Areas Promotion of Sports India Infrastructure Finance Company Limited
Contribution to the National Priority Areas Support to Differently abled Hindustan Petroleum Corporation Limited

 

Clean Ganga Mission holds workshop on river flow

Clean Ganga Mission holds workshop on river flow

A two-day International Workshop on Environmental Flows Assessment and Implementation for India was held in New Delhi. Indian, European and international experiences were brought together by National Mission of Clean Ganga (NMCG), along with Indo-German Cooperation.
It is increasingly recognized that the goal of attaining healthy river ecosystems can best and most sustainably be reached by integrated environmental management. The workshop includes discussions on Environmental Flows assessment and Implementation for sustainable river basin management, and various aspects of E-Flows in depth. Relevant Indian implementers and stakeholders along with national experts and International experts including those from Germany, Austria, United Kingdom, Bhutan, Poland, The Netherlands and South Africa are present during the workshop.

In order to advance the successful e-flows implementation in India, this workshop aims to bring Indian, European and international experiences together. A rich variety of cutting- edge topics and expert speakers from various backgrounds serve to promote challenges and solutions regarding e-flows assessment and implementation.

International workshop on Environmental Flows Assessment and Implementation for India was inaugurated by Gajendra Singh Shekhawat, Union Minister for Jal Shakti at Delhi. The exchange of Indian, European and international experiences was brought together by National Mission of Clean Ganga (NMCG) along with the Indo-German Cooperation with its project “Support to Ganga Rejuvenation” (SGR). Shekhawat also formally released the first version of the Guidance Document on Environment flow assessment in India. The deliberations in this workshop and further research work would help in coming up with advanced version of this e-flow guidance document in future.

It is already accepted around the globe, that the demand for water is increasing due to population growth, rapid urbanization and industrialization and that rivers are a critical natural resource, crucial for human well-being. The Ganga River, for example, supports a population of more than 400 million people by providing a multitude of domestic, agricultural, industrial, and power generation uses, and it also serves for recreational, livelihood and spiritual purposes.

The Ganga provides a unique ecosystem, which is home to India’s National Aquatic animal the Gangetic Dolphin, as well as Gharials, turtles and several birds and other wild animals. Other rivers like Godavari, Krishna, Mahanadi etc. are also crucial ecosystems and sources for ecosystem services for us and we need to protect these towards sustainability and equitable water use.

Given the current scenario, Gajendra Singh Shekhawat said that, “We are committed to protect these lifelines for our future generations. We have the identified aim of Aviral and Nirmal Dhara- continuous and clean flows as our tribute to Mother Ganga and we intend to extend this to all other rivers in the country.” He added further that, “Maintaining Environmental-Flows in rivers is very important not only for the country but worldwide since water has become a global challenge. We have to come together and act together to tackle this global challenge.”

“Under the Namami Gange programme, we have been quite serious about maintaining the continuous flow of Ganga. Last year, we recognized the minimum river flow to be maintained and also notified. We have started monitoring for its implementation as well.

We have made a beginning, but there’s a lot to learn from experiences of other countries where this has developed over a period of time” added Rajiv Ranjan Mishra, DG, NMCG. The international workshop aims to assist in the e-flows implementation in India by answering the following questions:

  1. What are the overall aims and targets for e-flows assessment in India?
  2. What are the short- and long-term steps to implement e-flows according to the overall aims and targets.

“We will learn from their vast experience and will also learn from the national experts present regarding the different scenarios within India,” emphasized Mishra, DG, NMCG.
In India, the European Union through the India-EU Water Partnership (IEWP) as well as the Indo-German Cooperation with its project “Support to Ganga Rejuvenation” (SGR) in order to promote cooperation in the water sector, has brought together stakeholders, such as governmental institutions, businesses and the civil society. Currently, a guidance document on the “Assessment of Environmental Flows in India” is being developed as part of the IEWP Action Plan and the draft version was launched during the workshop by the Minister, Jal Shakti.

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