HCL Technologies founder Shiv Nadar has topped the Edelgive-Hurun India Philanthropy List 2024 for the third time in five years, donating a staggering ₹2,153 crore in 2023-24. The list highlights the growing trend of philanthropy in India, with 203 individuals contributing a total of ₹8,783 crore. Education and healthcare emerged as the most favoured causes, reflecting the pressing needs of these sectors in India.
Results for: HCL Technologies
Data-driven insights from Plain Facts shed light on key developments during the past week. India’s retail inflation remained stable at 4.83% in April, but food prices continue to escalate. HCL Technologies has defied the trend of shrinking headcounts in the software industry, adding 1,537 employees, while other IT giants have experienced significant layoffs. Apple aims to produce 25% of its iPhones in India over the next few years, forging partnerships with Indian vendors. The banking sector has reported strong earnings in Q4, but experts caution against relying on one-time gains. India’s merchandise trade deficit has reached a four-month high of $19.1 billion, driven by rising gold and oil imports, with exports facing challenges due to global trade headwinds.
Despite a challenging year for the Indian IT sector, auto companies are emerging as a strong growth driver for FY24. Automotive firms are increasingly outsourcing software development and engineering services to IT companies to support their transformation to electric and autonomous vehicles. This trend has contributed to a significant increase in revenue from automotive clients for IT services companies, particularly in manufacturing and engineering, research and development (ER&D) segments.