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Will double India headcount annually for 3 years to expand footprint: Transcom India

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New Delhi, April 30 (IANS) Generative AI-driven customer experience services (CX) company, Transcom India, on Tuesday said it aims to double its current headcount of 700 annually for the next three years, taking its employee strength to 7,000-10,000 and further strengthen its footprint in the country.

Transcom recently acquired homegrown IT services company VCosmos, which is now called Transcom India.

“VCosmos, now christened Transcom India, is the most strategic fit in our strategy to provide AI-powered and competitive offshore delivery to our marquee customers and fast-growing consumer brands from North America and Europe,” Travis Coates, Global COO for Transcom, told IANS.

India offers Transcom an unbeatable combination of a scalable and affordable talent pool that led to a rapid growth of the country’s business process management (BPM) industry to an estimated $50 billion and IT services revenue of $130 billion in FY2024 despite a significant drop in global IT spend.

Transcom said that with its edge in the Gen AI-led tech platforms and proprietary tools, it is poised to garner a growing market share of the BPM industry by implementing futuristic solutions for evolving customer and business needs.

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“Transcom India is an amalgam of ethos of speed and dynamism of a startup, experience and maturity of building one of the great places to work and the new age proprietary tools from Transcom to deliver differentiated outsourcing services at optimum costs,” said Amandeep Singh Arora, CEO and MD of Transcom India.

Transcom India offers customer experience services to industries like fintech, mobile devices, hospitality, and e-commerce sector in eight Indian languages, in addition to several foreign languages.

“With our team in India, we envision significant contributions to our global business plans,” Coates told IANS.

Transcom, headquartered in Stockholm, provides AI and digitally-enhanced customer experience (CX) services to some of the world’s most ambitious brands.

It serves nearly 300 customers across various industries in 33 languages through its 33,000 employees in 90 contact centres in 29 countries.

“The coming together of a global player Transcom and an experienced team at VCosmos sets the stage for a new market disruptor to emerge by offering next-gen ‘techno-human’ solutions to our global clients,” said Sanjay Mehta, Transcom India Chairman.

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–IANS

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CERT-In finds multiple bugs in 'Golang Go' that affect IBM's data management software

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New Delhi, June 22 (IANS) The Indian Computer Emergency Response Team (CERT-In), which comes under the Ministry of Electronics & Information Technology, has warned users of multiple vulnerabilities in the ‘Golang Go’ programming language affecting IBM Storage Copy Data Management software.

As per the CERT-In advisory, the multiple vulnerabilities — ‘arbitrary code execution vulnerability’ and ‘denial of service vulnerability’ — could allow an attacker to execute arbitrary code or cause a denial of service condition on the targeted system.

The arbitrary code execution vulnerability exists in IBM software due to a flaw in Golang Go during the build on Darwin.

“An attacker could exploit this vulnerability by building a specially crafted Go module. Successful exploitation of this vulnerability could allow an attacker to execute arbitrary code on the targeted system,” the cyber agency said.

On the other hand, the denial of service vulnerability exists in IBM Storage Copy Data Management due to a flaw in Golang Go which causes high CPU usage in the ‘extractExtendedRCode’ function in the net module.

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“A remote attacker could exploit this vulnerability by sending a specially crafted DNS message in response to a query,” the advisory mentioned.

Successful exploitation of this vulnerability could allow an attacker to cause a denial of service condition on the targeted system.

CERT-In has suggested users apply appropriate fix/patches as recommended by the company.

–IANS

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Govt initiatives played vital role in creating jobs for people in private sector: Economist

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New Delhi, June 22 (IANS) Government initiatives such as Startup India, Make in India, New Education Policy, and others have played an important role in creating employment for people in private sector on such a large scale, Vivek Singh, Professor at NMIMS University, Economist and Political Analyst, said on Saturday.

According to HSBC’s flash Purchasing Managers’ Index (PMI) data, output growth across India’s private sector regained growth in June with business activity increasing at quicker rates among manufacturing companies and services firms while hiring of workers shot up to an 18-year high.

“It is a matter of great happiness that the record has been broken in the last 18 years and the private sector has done the most job creation in the month of June 2024,” Singh told IANS.

The final manufacturing, services and composite PMI figure grew by 0.4 percentage points to 60.9 in June, compared to a downward revised figure of 60.5 in May.

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“Increased business activities and growth in sales have had an impact that so many jobs have been created in the private sector,” said Singh.

Maitreyi Das, Global Economist at HSBC, stated that the composite flash PMI ticked up in June, supported by rises in both the manufacturing and service sectors, with the former recording a faster pace of growth.

–IANS

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New Telecom Act: Centre can take control of telecom networks during emergency

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New Delhi, June 22 (IANS) The Centre on Saturday introduced the new Telecommunications Act, 2023 that will usher in the new era of connectivity from June 26, replacing century-old colonial laws.

The Section 20 of the ‘Telecommunications Act 2023’ stated that the central government of a state government will be able to take control of any telecommunications services or networks in times of emergency after the implementation of the Act.

On the occurrence of any public emergency, including disaster management, or in the interest of public safety, “the Central Government or a State Government or any officer specially authorised in this behalf by the Central Government or a State Government can take temporary possession of any telecommunication service or telecommunication network from an authorised entity; or provide for appropriate mechanisms to ensure that messages of a user or group of users authorised for response and recovery during a public emergency are routed on priority,” according to the Sector 20 of the Act.

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Any telecom player who wants to establish or operate telecommunication networks, provide services or possess ratio equipment will have to be authorised by the government.

“The Telecommunications Act, 2023 aims to amend and consolidate the law relating to development, expansion and operation of telecommunication services and telecommunication networks; assignment of spectrum and for matters connected therewith,” said the Department of Communication (DoT)

The Telecommunications Act, 2023 seeks to repeal existing legislative frameworks like Indian Telegraph Act, 1885 and Indian Wireless Telegraph Act, 1933 owing to huge technical advancements in the telecom sector and technologies.

The Act also provides measures for protection of users from unsolicited commercial communication and creates a grievance redressal mechanism.

When it comes to the Right of Way (RoW) framework, public entities shall be obligated to provide right of way except in special circumstances.

“The fee for right of way would be subject to a ceiling. The Act provides a complete framework for RoW in respect of private property based on mutual agreement. The Act also provides that the RoW to be granted shall be non-discriminatory and as far as practicable on a non-exclusive basis,” said the DoT.

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It also provides that telecommunication infrastructure shall be distinct from the property it is installed on. This will help reduce the disputes when property is sold or leased.

In line with Prime Minister Narendra Modi’s ‘Gati Shakti’ vision, the law provides for the central government to establish common ducts and cable corridors.

“To ensure national security and promote India’s technology developers, the Act lays down powers to set standards and conformity assessment measures for telecommunication services, telecommunication networks, telecommunication security, etc,” the DoT said.

–IANS

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Amitabh Kant highlights urgent need to improve urban air quality

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New Delhi, June 22 (IANS) G20 Sherpa and former NITI Aayog CEO Amitabh Kant on Saturday highlighted the urgent need for improving urban air quality and advocated for a nationwide shift to electric vehicles (EVs) by 2030.

Speaking with NDTV on enhancing India’s urban sustainability and resilience, Kant emphasised the critical need to tackle urban air quality, noting that 42 cities in India rank among the world’s most polluted.

In addition, he advocated for a nationwide shift to EVs by 2030, citing their economic viability and increasing consumer demand.

“We need to focus on transportation in a very big way and ensure that these cities all go electric by 2030,” G20 Sherpa said.

“The priority should be that in the next four to five years, two-wheelers, three-wheelers, and buses all go electric in the next five years and by 2030 even all four-wheelers go electric,” he added.

Kant also mentioned that the government has already taken the initiative to procure 10,000 buses.

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“They have allocated about Rs 57,000 crore, which is almost $7 billion. It’s one of the biggest programmes of the government,” he said.

The former NITI Aayog CEO also applauded India’s progress in renewable energy, having exceeded COP21 targets with 200 gigawatts already generated.

–IANS

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Foreign portfolio investors bullish on Indian markets, pumps Rs 23,786 crore since June 10

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New Delhi, June 22 (IANS) Buoyed by the policy and reform continuity, foreign portfolio investors (FPIs) have altered their position in the equity market following the election results, injecting Rs 23,786 crore since June 10, industry analysts said on Saturday.

There are three primary reasons for this positive inflow.

“First, the continuity of the government assures ongoing reforms. Second, the Chinese economy is decelerating, as evidenced by a 12 per cent decline in copper prices over the past month,” said Sunil Damania, Chief Investment Officer, MojoPMS.

Third, certain block deals in the market have been eagerly taken up by FPIs.

“However, these FPI inflows are concentrated in a select few stocks rather than being widespread across the market or sectors,” Damania said.

Till June, FPIs sold equity for Rs 11,193 crore.

According to market experts, it is interesting to note that this net sell figure is composed of selling through the exchanges for Rs 45,794 crore and buying through the “primary market and others” for Rs 34,600 crore.

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FPIs are selling where valuations are high and buying where valuations are reasonable.

Analysts believe that FPI inflows will remain constrained due to the high valuations currently commanded by the Indian equity market.

Meanwhile, the Indian market initially continued its upward trend as concerns over election outcomes eased and global sentiment improved.

With a coalition government in place, there is optimism that the upcoming budget will strike a balance between growth initiatives and populist measures, they noted.

–IANS

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