Infosys, India’s second-largest IT services company, has received a pre-show cause notice from Karnataka State GST authorities for alleged GST evasion of Rs 32,403 crore. The notice pertains to expenses incurred by overseas branch offices during July 2017 to March 2022. Infosys maintains that GST is not applicable on such expenses and has responded to the notice. The company also received a similar notice from the Director General of GST Intelligence.
S D Shibulal, with a net worth exceeding ₹17,587 crores, is a shining example of an extraordinary journey from a humble beginning to a tech titan. Learn about his early life, education, and pivotal roles in the rise of Infosys, a global IT giant. Discover how his leadership, innovation, and entrepreneurial spirit continue to shape the tech landscape.
Infosys, an IT company, has invested €5 million in UVC Partners, a German venture capital firm, for a minority stake. The investment will be made over a five-year period and aims to support UVC’s ecosystem and startups in developing next-generation solutions leveraging AI and deep tech.
Indian IT giant Infosys reported strong Q1 results, raising its annual revenue guidance. The Supreme Court ordered the NTA to release NEET-UG 2024 exam results by June 20, while Tata Technologies saw a decline in profits. Crypto platform WazirX suffered a security breach, and a train derailment in Uttar Pradesh resulted in casualties.
Infosys, the Indian IT giant founded by Narayana Murthy, has secured a substantial five-year deal worth Rs 8350 crore from Ikea, the Swedish multinational conglomerate. This agreement involves providing enterprise service management, IT services management, and a service desk for Ikea’s global workforce. The deal also includes the transfer of 350 Ikea employees to Infosys.
K Dinesh, a co-founder of Infosys, took an unconventional path, leaving a government job to build a tech empire. He played a pivotal role in the company’s success, serving on the board for 30 years before transitioning into philanthropy. This article highlights Dinesh’s journey from a government employee to a tech visionary and his dedication to social causes.
Infosys’ Chief Technology Officer, Rafee Tarafdar, has emphasized the importance of artificial intelligence (AI) for engineering students entering the workforce. Tarafdar advises students to focus on becoming proficient in AI tools to enhance their productivity and value. The company has also introduced a sales assistant for client-facing teams, providing them with access to extensive information and enabling them to develop AI-led solutions.
British Prime Minister Rishi Sunak and his wife Akshata Murty have climbed up the ranks in the 2024 ‘Sunday Times Rich List’ due to Murty’s profitable Infosys shareholding. The couple’s estimated wealth has increased to GBP 651 million, making them the richest inhabitants of 10 Downing Street. Murty’s earnings, primarily from Infosys dividends, surpass those of her husband. The annual list also recognizes other wealthy individuals of Indian origin, with the Hinduja family retaining the top spot.
Wipro’s recent announcement of 11 large deals worth over USD1 billion in Q3FY23 is a positive indication for the Indian IT industry. This follows similar reports of record-breaking deal wins by TCS and Infosys, suggesting strong demand for IT services. Investors should be optimistic about the future prospects of these companies.
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.
