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The country's software and business process outsourcing exports are expected to rise 5.5 per cent to touch $50 billion in the current India's top 10 BPOs Rise of multinational IT in IndiaKey facts on India's IT industry fiscal (2009- 10), industry body Nasscom said on Thursday. The estimation is in line with an earlier forecast of 4-7 per cent given by Nasscom. The industry was optimistic to reach the $50 billion milestone export target in the current fiscal.

IBM has been present in India since 1992 and has established itself as one of the leaders in the Indian Information Technology (IT) Industry. IBM India has seen double-digit growth over the last five years, spurred by the stabilization of the Indian economic environment and also by IBM's own efforts to grow and transform its business in the country. IBM India has over 38,500 employees as of January 1, 2006 and is India's largest MNC employer.

Stocks are likely to begin trade on an optimistic note on Wednesday tracking the recovery across global markets. On the domestic front,the government unveiled its third stimulus package after market hours Tuesday which will further boost sentiment.The government cut factory gate duties and service taxes in an effort to boost demand and revive growth in economy as it reels under the impact of the global economic crisis.

American president Barack Obama has once again targeted American companies having their operations in India to save taxes back home India's top 10 BPOs The rise of multinational IT in India Key facts on India's IT industry Top acquisitions in BPO space and called such businesses tax evaders. ( Watch ) "If you are a business here, entirely located in the US, and investing in the US, and hiring workers in the US, you are paying a 35 per cent rate," Obama said in an interview to the business magazine Bloomberg Business Week.

India's Biocon Limited Thursday posted a more than threefold jump in first-quarter net profit, helped by higher revenue from contract research, and backed its estimates for the current fiscal year.

Seems the current recession is turning US ‘inwards’. In the country, which taught the world lessons of `open economy', the demand for protectionism is getting louder. The pains of turbulent economy is making many Americans target outsourcing.

To continue to hire and create jobs in line with recovery and growth of the Indian economy.Global software giant Microsoft today said it might dismiss more employees if economic conditions worsen.The company plans to dismiss 1 per cent of its 5,000 employees in India, part of a plan to shed around 5,000 jobs globally.

India's annual rate of inflation, based on wholesale prices, rose to 1.21 per cent for the week ended Oct 10 from 0.92 per cent the week before, data released Thursday showed.

India's Wipro Ltd is seeing an uptick in demand at its key financial services segment and expects to sustain overall operating margins in the near term as the business environment improves.