Industry news

Ongoing diplomatic tensions between India and Canada may hinder Indian IT companies from finalizing new outsourcing deals with Canadian businesses.

Indian IT firms favour Canada due to its straightforward visa processes and pro-business environment. Canada contributes about 4-5% of revenues for India’s major IT firms.

IT giants like Infosys and Wipro have expanded in Canada, while Tata Consultancy Services (TCS) partners with Canadian entities such as Bombardier and Payments Canada.

At the same time, numerous Canadian companies also operate their Global Capability Centres in India.

Despite global economic headwinds, India emerged as the top IPO market in 2023 thanks to its booming technology and communication sectors.

According to a report by GlobalData, of the 750 IPOs worldwide raising US$147 billion in January-August 2023, India secured the top position in the number of IPOs with 152, totaling US$3.8 billion.

GobalData Company Profile Analyst Murthy Grandhi said India stood out in the first eight months of the year despite global economic uncertainties and geopolitical conflicts.

Read the full article on Outsource Accelerator here. 

EXL, the data and analytics focused Business Process Services (BPS) player, is expanding its operations into Dublin with the establishment of a new headquarters.

EXL has been one of the stand out performers in the BPS space of late, posting growth of over 25% last year . The BPS provider’s largest business unit focuses on analytics and it’s here where EXL has carved a real niche

DXC has landed a contract with the Crown Prosecution Service (CPS) for England & Wales as its Service Desk Partner. The £9m, “multi-year” contract will, according to Derek Allison, VP UK Public Sector, Aerospace, and Defence, see DXC “evolving on-demand IT support to an agile service desk model” to better support the CPS’ 7,000 staff in delivering casework quality.

Read the full article on TechMarketView here.

Procter & Gamble India (P&G India) in partnership with WEConnect International, conducted the next edition of the Women Entrepreneur Development Program (WEDP).

About 30 women entrepreneurs, who were selected via an application process, graduated from the two-day program aimed at their capacity development.

As part of the program, senior leaders from P&G conducted training and workshops with case studies covering various aspects of building a sustainable business including professional skills like business strategy, finance capital, new customer outreach and more, including strategic inputs for driving business growth.

Read the full article on Everything Experiential here.

It’s increasingly clear that the resulting shifts in how people live, work, and play are not temporary but structural, beginning a new economic era characterized by volatility, regionalized supply chains, AI dominance, and talent scarcity.

To succeed in the new environment, organizations are currently embedding agility, technology, and innovation into every aspect of their value chains.

Read the full article on Mckinsey & Company here.

Aviva Investors’ chief responsible investment officer was on the advisory committee that helped create the Principles for Responsible Investment in 2006 — the UN-backed network of financial institutions that promotes environmental, social and governance factors. It was the same year he joined the £221bn asset manager.

In March 2022, Aviva published its first climate transition plan, setting its sights on achieving net zero by 2040, a decade ahead of the Paris Agreement’s 2050 target.

Waygood says Aviva Investors will own up if it fails to meet that commitment. “It’s something we want to do and put our best foot forward in trying to achieve. But we’re not saying we’re going to do it at all costs no matter what the circumstances are in the future. And if we don’t deliver it, we’ll be very open and honest about that and say why.”

Teleperformance, a global leader in digital business services, announced today that it was named among the top 10 Best Workplaces in Europe™ 2023 by Great Place to Work®. The company ranked the 7th Best Workplace in Europe among multinational companies in France, Greece, Italy, Portugal, Switzerland, Turkey and the U.K.

Teleperformance employees across Europe participated in the annual confidential survey, which rated the digital business services company on trust, company values, leadership and innovation.

Non-governmental organisations (NGOs) are urging the Federal Government to prioritise environmental conservation for Budget 2024.

Malaysian Nature Society (MNS) president Vincent Chow said allocations for environmental projects in previous national budgets had been insufficient.

“We want the government to give its full commitment to protecting the country’s environment,” he said.

Read the full article on The Star here.

Earlier this week, US-headquartered customer services giant Concentrix signed the deal to buy French-headquartered rival Webhelp, in an acquisition first announced back in March (see Concentrix agrees to buy Webhelp for $4.8bn).

The combined business is likely in due to course to get a new name and identity and is expected to have c.$9.8bn in revenue for FY 2023 on a pro forma basis. The new combined operation is to be led by current Concentrix CEO Chris Caldwell.

Read the full article on TechMarketView here.