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New Delhi, The inter-ministerial board of approval, on request of a developer of an IT/ITeS sector special economic zone, can permit demarcation of non-processing area of that zone, according to an official notification. The inter-ministerial Board of Approval is the highest decision making body on <keyword id="69055" type="General" weightage="20" keywordseo="special-economic-zones" source="Orion">special economic zones</keyword> (SEZs). It is chaired by the commerce secretary. The <keyword id="6365809" type="General" weightage="20" keywordseo="commerce-ministry" source="Orion">commerce ministry</keyword>'s notification said that a non-processing area under such SEZs can be used for setting up and operation of businesses engaged in Information Technology (IT) or Information Technology Enabled services (ITeS) sector. For this, the ministry has amended the Special Economic Zones (Fifth Amendment) Rules, 2023. Inserting a new rule, the notification said: "...the Board of Approval, on request of a developer of an IT or ITeS SEZs, may permit demarcation of a portion of the built-up area of an IT or ITeS SEZ as a non-processing area of the IT or ITeS SEZ to be called a non-processing area." In the processing area, units are located for manufacturing of goods or rendering of services. Non-processing areas are where supporting infrastructure is created. It also said that the board would permit the demarcation "only" after repayment, without interest, by the developer. "Demarcation of a non-processing area shall not be allowed if it results in decreasing the processing area to less than fifty per cent of the total area...," it added. The notification also said that the businesses engaged in these zones in a non-processing area would not avail any rights or facilities available to SEZ units. It added that no tax benefits shall be available on operation and maintenance of common infrastructure and facilities of such an IT/ITeS zone. Welcoming the move, Sanjay Dutt, MD &amp; CEO, <keyword id="672851" type="General" weightage="50" keywordseo="tata-realty-and-infrastructure-ltd" source="Orion">Tata Realty and Infrastructure Ltd</keyword>, said that this revised policy not only facilitates the expansion of companies' office spaces but also extends the benefits of SEZ areas to non-SEZ entities. "It's a proactive move by the government, optimizing the utilization of real estate resources," he said, adding, "presently, the country boasts around 170 million square feet of ready IT SEZ office space in the top 6 cities, with nearly 20 per cent (over 30 million square feet) lying vacant. Additionally, about 10 million square feet of SEZ spaces are under construction and set to be completed within the next 2 years."

Inter-ministerial approval board can permit demarcation of non-processing area under IT sector SEZs

The <keyword id="20163832" type="General" weightage="20" keywordseo="society-of-indian-automobile" source="keywords">Society of Indian Automobile</keyword> Manufacturers (<keyword id="108827" type="General" weightage="20" keywordseo="siam" source="Orion">SIAM</keyword>) and big auto players have hailed the Cabinet decision of PM e-DRIVE schemes aimed at promoting electric mobility across the country. The Rs 10,900 crore scheme will support 2,479,000 electric 2-wheelers, 316,000 electric 3-wheelers and 14,028 electric buses, along with 88,500 <keyword id="186291" type="General" weightage="100" keywordseo="ev" source="Orion">EV</keyword> charging sites. Shailesh Chandra, President of <keyword id="108827" type="General" weightage="20" keywordseo="siam" source="Orion">SIAM</keyword> and Managing Director of Tata Motors Passenger Vehicles Ltd &amp; Tata Passenger Electric Mobility Ltd, expressed strong support for the government's forward-thinking initiative. Chandra said, "This forward-thinking initiative reflects the Government's unwavering support for <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s transition to electric mobility, fostering innovation and investment within the sector. We beli<keyword id="186291" type="General" weightage="100" keywordseo="ev" source="Orion">ev</keyword>e this scheme will not only enhance the growth of the EV ecosystem but also strengthen <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s leadership in the global movement towards environmental sustainability." Dr Anish Shah, Group CEO &amp; MD, Mahindra Group also commended government's efforts, specifically highlighting the comprehensive nature of the PM e-DRIVE scheme. Shah said, "We applause the government for launching the PM e-drive scheme. With continued focused support on 2Ws, 3Ws, e-buses and thoughtful addition of e-ambulances, the scheme will drive higher EV penetration in the country." M&amp;M noted that schemes like <keyword id="21028" type="General" weightage="20" keywordseo="fame" source="Orion">FAME</keyword> and <keyword id="48070" type="General" weightage="20" keywordseo="emps" source="Orion">EMPS</keyword> have already driven penetration of electric three-wheelers in India. "Investments laid out for fast charging infrastructure for all segments will help in increasing consumer confidence for faster adoption of EVs. <keyword id="21028" type="General" weightage="20" keywordseo="fame" source="Orion">FAME</keyword> and <keyword id="48070" type="General" weightage="20" keywordseo="emps" source="Orion">EMPS</keyword> have helped in 20 per cent e-3W penetration in the country. With PM e-drive, we foresee India becoming the first country to achieve 100 per cent electrification in this segment by 2030", he added. The Union Cabinet, on Wednesday, cleared the 'PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM e-DRIVE) Scheme,' with a total outlay of Rs 10,900 crore over two years. It includes Rs 3,679 crore in subsidies and demand incentives for e-2Ws, e-3Ws, e-ambulances, e-trucks, and other emerging electric vehicles. It is expected to support the deployment of 24.79 lakh e-2Ws, 3.16 lakh e-3Ws, and 14,028 e-buses, providing a significant push to India's EV ecosystem. A critical aspect of the scheme is the introduction of e-vouchers for EV buyers. At the time of purchase, an Aadhaar-authenticated e-voucher will be generated, which will enable buyers to avail of demand incentives. Additionally, the scheme allocates Rs 500 crore for the deployment of e-ambulances, marking a new initiative to integrate electric vehicles into essential public services. Another Rs 4,391 crore has been earmarked for the procurement of 14,028 e-buses, with a demand aggregation process led by CESL in nine major cities, including Delhi, Mumbai, and Bangalore. Intercity and interstate e-buses will also be supported in consultation with states. Furthermore, Rs 500 crore has been set aside to incentivize the adoption of e-trucks, a critical move given that trucks are one of the largest contributors to air pollution. The scheme encourages those with a scrapping certificate from <keyword id="19897457" type="General" weightage="20" keywordseo="ministry-of-road-transport" source="keywords">Ministry of Road Transport</keyword> and Highways-approved (MoRTH) vehicle scrapping centres to participate in this transition. With an allocation of Rs 2,000 crore, the scheme will support the installation of 22,100 fast chargers for four-wheelers, 1,800 fast chargers for e-buses, and 48,400 fast chargers for two- and three-wheelers. These chargers will be installed in cities with high EV penetration and along selected highways, making long-distance EV travel more viable.

Automobile industry hails PM e-DRIVE scheme to promote EVs

New Delhi, Feb 20 () Tata Realty and Infrastructure Ltd (TRIL), a subsidiary of Tata Sons, on Thursday announced the appointment of Ritesh Sachdev as senior vice-president and head (commercial leasing and asset management). Prior to this, Sachdev was associated with Colliers International as the head of occupier services (India) and Managing Director (South India). He has over 20 years of experience in the real estate sector. "The commercial real estate sector in India is on the path of unprecedented growth. We, at TRIL, have already aligned our business strategy towards these developments in the commercial real estate sector. "We have planned the launches of two IT centres, Intellion Park and Intellion Edge in Gurgaon, as well as the upcoming Intellion Park in Mumbai," said Sanjay Dutt, MD &amp; CEO, TRIL. Sachdev is a civil engineering graduate (B.E.), and a masters in business administration from the University of Leeds. MJH HRS

Tata Realty appoints Ritesh Sachdev as senior VP, head for commercial leasing

Travelling around the wonderland that is India is a thrilling experience, especially when fast-moving super <keyword id="168020" type="UNKNOWN" weightage="100" keywordseo="expressways">expressways</keyword> are right here to ensure some wonderful on-the-road vacations. Of course there are business travellers who are in a hurry to reach their destinations and <keyword id="2053038" type="UNKNOWN" weightage="100" keywordseo="Super-fast-expressways">super fast expressways</keyword> minus traffic snarls suit them down to the ground. But then, you can be one of those away on a leisure trip and looking forward to a fast and panoramic drive on your way to a new city. Either way, the expressways of India won’t disappoint you. As we mentioned before, expressways are controlled-access highways like the freeways or motorways or autobahnen in the US and Europe, essentially designed for high-speed traffic. As of now, most of the expressways in India are 6-8 lane toll <keyword id="6358996" type="PERSON" weightage="100" keywordseo="roads">roads</keyword> and cover a total distance of nearly 1,208.19 km. 
 
Last month, we brought you <a href="http://www.businessinsider.in/8-Super-ExpresswaysIn-North-India-That-Fulfil-Your-Need-For-Speed/articleshow/29486214.cms">8 super expressways</a> in North India that fulfil your need for speed. And this time, we move to the West and the North-west of the country where some more picturesque drives await us. However, the <keyword id="52840" type="UNKNOWN" weightage="100" keywordseo="sea-links">sea links</keyword> and the <keyword id="2053055" type="UNKNOWN" weightage="100" keywordseo="Coastal-expressways">coastal expressways</keyword> will come up in our next article. So grab a coffee, get a map and read on. By the time you are through, you could be checking the map and picking out the spots where you want to go first. As the Turkish playwright <keyword id="1981629" type="UNKNOWN" weightage="60" keywordseo="Mehmet-Murat">Mehmet Murat</keyword> ildan has said: Some roads are so beautiful that you know not whether you travel on the road or the road travels in you! 
 
Image: Thinkstock Photos/Getty Images

Open Roads Return: 6 Super
Expressways In West & North-west India

Last year, transport minister Nitin Gadkari said that road accidents are “more serious than the COVID-19 pandemic," and this is corroborated by the data compiled by the National Crime Records Bureau. Over 1.55 lakh lives were lost in road crashes across India just in 2021, says a recent report by the NCRB. So, every day 425 people lose their lives on Indian roads and the recent high-profile death of former Tata Sons chairman Cyrus Mistry has put the spotlight yet again on <keyword id="87280" type="General" weightage="20" keywordseo="road-safety" source="Orion">road safety</keyword>. <div type="image" title="Over 1.55 lakh lives were lost in road crashes across India just in 2021: NCRB" msid="94084328" hostid="261" caption="&amp;lt;p&amp;gt;Over 1.55 lakh lives were lost in road crashes across India just in 2021: NCRB&amp;lt;/p&amp;gt;"></div> The report said that during 2021, two-wheelers have contributed 44.5% of total road accidental deaths (69,240 deaths), followed by cars at 15.1% with 23,531 deaths and trucks or lorries had a 9.4% contribution (14,622 deaths). <div type="image" title="Road accident fatalities have gone up since 2020" msid="94084331" hostid="261" caption="&amp;lt;p&amp;gt;Road accident fatalities have gone up since 2020&amp;lt;/p&amp;gt;"></div> The report also highlighted that overspeeding remains the biggest cause of road accidents—contributing to 56% of the total road crash deaths (87,050 deaths), followed by dangerous or careless driving, contributing to 27.5% of total crash deaths (42,853 deaths). Most of these road accidents in India have happened on national highways. India accounts for about 2% of motor vehicles globally. Yet, it is the <a href="https://www.thehindubusinessline.com/news/india-accounts-for-11-per-cent-of-global-death-in-road-accidents-world-bank/article33834556.ece">home </a>to more than 11% of the world’s road traffic deaths. According to a <a href="https://www.hindustantimes.com/analysis/it-s-time-to-put-an-end-to-india-s-road-safety-crisis/story-FrTmaEoqfKC1EnoryY4nxN.html#:~:text=According%20to%20a%20United%20Nations,rate%20of%2043%20a%20day.">UN study</a>, India loses 3% of its GDP to road accidents by removing prime-age adults from the workforce. Despite the high number of fatalities, in India, people wearing seat belts is a rare sight. While rear seat belts have been mandatory under the Central Motor Vehicle Rules, most kaali peeli taxis don’t even have seat belts for passengers. <div type="image" title="Most kaali peeli taxis don’t even have seat belts for passengers" msid="94084343" hostid="261" caption="&amp;lt;p&amp;gt;Most kaali peeli taxis don&amp;#8217;t even have seat belts for passengers&amp;lt;/p&amp;gt;"></div> Rear seat belts prevent fatality According to the World Health Organisation, the use of rear seat belts can prevent fatality by 25% and injuries by 75%. <div type="image" title="Use of rear seat belts can prevent fatality by 25% and injuries by 75%: NCRB" msid="94084418" hostid="261" caption="&amp;lt;p&amp;gt;Use of rear seat belts can prevent fatality by 25% and injuries by 75%: NCRB&amp;lt;/p&amp;gt;"></div> Reports suggest that Mistry was seated in the back and was not wearing a seatbelt. Now, after Mistry’s demise has sent shockwaves across the country, Gadkari said that even chief ministers don’t follow safety rules. Some ministers even use a clip so that the alarm does not make any sound, said Gadkari, when there is no belt. After the incident, Gadkari also said that the ministry is now working towards making six airbags compulsory in all cars. It was not too long ago, just in February 2022 that the Indian <a href="https://timesofindia.indiatimes.com/auto/cars/govt-makes-three-point-seat-belts-mandatory-for-all-front-facing-passengers-in-car/articleshow/89501540.cms">government </a>had also made it mandatory for automakers to provide three-point seat belts for all front-facing passengers in a car, which is also applicable for the middle seat in the rear row of a car. It is also stated in the rules Motor Vehicles Act 138(3) that fastening seat belts is compulsory for passengers sitting in the front as well as the rear seats. However, India fails to follow the law of its land. As per a 2019 report by SaveLIFE Foundation, less than 1% of people in India use rear seat belts. 37.8% of all the people surveyed didn’t even know that any such legal compulsion existed. While 23.9% of people didn’t even know that rear seat belts existed. The centre has also made it compulsory for all cars to have six airbags across from October 1. After losing his ‘good friend,’ minister Gadkari said that all cars exported out of India have 6 airbags and asked then why Indian cars have only four airbags. What India can learn from other countries In 1997, Sweden adopted a ‘Vision Zero’ policy based on the idea that “no loss of life was acceptable.” The policy did not focus on changing human behaviour, the emphasis was on designing a better system of roads and other infrastructure, vehicle technology and enforcement. On the other hand, Singapore uses advanced warning lights that alert drivers about the upcoming signal and vehicle speed. <a href="https://www.forbes.com/sites/peterlyon/2020/08/27/frightening-consequences-for-drink-drivers-in-japan/">Japan </a>also has a strict policy for drunken drivers. It has a zero percent blood-alcohol level standard for drivers and individuals caught driving under the influence can face imprisonment for up to 15 years. In Switzerland, passengers travelling in the same car as a drunk driver are also considered liable and can lose their own licenses. Apart from strictly enforcing speed limits and other road regulations, Norway has found a unique approach to reduce its fatalities. It has made it mandatory for drivers to always have their headlights on while driving. Safety measures taken by automakers From installing airbags and adding stringent seatbelt alarms to running awareness campaigns, automakers have been trying to up safety for India’s car passengers. Maruti, Hyundai and Tata Motors offer six airbags across some models. Luxury car companies like Mercedes-Benz, Audi and Volvo are also offering six airbags and the number increases on the higher-end models. Safety rules you must follow To stay safe, one must <a href="https://highwaypolice.maharashtra.gov.in/en/road-safety-guideline/#:~:text=Always%20obey%20Road%20safety%20rules,as%20markets%20and%20residential%20areas.">obey </a><keyword id="1501776" type="General" weightage="20" keywordseo="road-safety-rules" source="Orion">road safety rules</keyword> and regulations of India. <ul><li>Look for the traffic signs before you cross signals. </li><li>Drive within the speed limits prescribed. Ideally one should drive at approximately not more than 30 kmph near busy places such as markets and residential areas.</li><li>Keep vehicle oiled and serviced. A sudden breakdown of the vehicle on the road can cause hardships not only to you but also to fellow drivers and traffic personnel. </li><li>Stop or slow down your vehicle and allow the pedestrians to crossroads at unmanned/signalled Zebra crossings.</li><li>Always wear seat belts while driving four-wheelers.</li><li>Avoid rash or negligent driving.</li><li>Do not drink and drive.</li><li>Avoid using mobile phones while driving. In case of an urgent call, park the vehicle to the side of the road and put the brake lights on, and allow other motorists to pass by. </li><li>Turn the brake lights ON before stopping so that the vehicles behind can avoid a collision.</li></ul>Here's a small video <div type="image" title="All you need to know about India’s rules for road safety" msid="94084511" hostid="261" sizebytes="1771684" caption="&amp;lt;p&amp;gt;All you need to know about India’s rules for road safety&amp;lt;/p&amp;gt;"></div>Before we let you go, here's what we want you to know- Business Insider India brings you SaaS Scions, a 6-part video series chronicling Indian SaaS scions - SaaS leaders who have come to define this sector in India. And now for the world. <div type="image" title="Business Insider India brings you SaaS Scions" msid="94084538" hostid="261" caption="&amp;lt;p&amp;gt;Business Insider India brings you SaaS Scions&amp;lt;/p&amp;gt;"></div>

SIMPLY PUT: All you need to know about India’s rules for road safety

New Delhi, Dec 5 () Cash-starved realtors expressed disappointment over the RBI's decision on Thursday to keep the benchmark lending rate unchanged and said the apex bank should have cut repo rate by 1 percentage point to boost housing sales and economic growth.
 "India Inc. was expecting a rate cut of 100 basis points instead of small tinkering such as a rate cut of 25 basis points, which would have provided a boost to the government's recent initiatives to kick-start GDP growth," NAREDCO President Niranjan Hiranandani said.
 "The decision to wait and watch the outplay of previous cuts will go against the current sentiments. The markets overall are disappointed," he said, adding that real estate developers are facing liquidity crunch.
 Knight FRank India CMD Shishir Baijal said the RBI's decision to not lower interest rate has come "as a surprise and a bit of a disappointment to the industry".
 "Lower interest rate would have helped push up credit demand and investment in the economy, aiding overall economic growth. It would have provided much required reprieve to some ailing sectors like real estate and auto," he added.
 Anarock Chairman Anuj Puri said, "From a real estate point of view, rate cuts are obviously always welcome as they help improve overall sentiment. The expected rate cut of 25 basis points would have caused home loan values to fall below 8 per cent for first time ever".
 Sanjay Dutt, MD &amp; CEO, Tata Realty &amp; Infrastructure Ltd said, "This time while the focus of the RBI remains to be on reviving the economy, we are disappointed to see no change in the policy rate".
 The real estate industry, in particular, has been facing some difficult times and with inventories piling up the need to push demand and encourage purchase is now more than ever, he added.
 However, Anshuman Magazine, Chairman &amp; CEO - India, South East Asia, Middle East &amp; Africa, CBRE, said the RBI's decision to keep the repo rate unchanged is an indication towards the government's focus on the evolving inflation-growth dynamics.
 JLL India CEO &amp; Country Head Ramesh Nair said the central bank by keeping the rates unchanged has recognised that the need of the hour is to infuse confidence about the economic growth through a holistic approach.
 "The decision to maintain policy rates augurs well for the economy as the recently introduced policy reforms will take time to pan out and materialise. The economy needs to absorb the impact of the recently introduced reforms and the previous rate cuts. The real estate sector is expected to pick up due to the favourable policy incentives and the faster transmission of previous rate cuts," he added.
 With concern over rising food prices, Elara Technologies CEO Dhruv Agarwala said, "Under the circumstances, the apex bank had little option but to maintain status quo with regard to the repo rate."
 News Corp and Softbank-backed Elara Technologies owns Housing.com, PropTiger.com and Makaan.com real estate portals.
 Sankey Prasad, Managing Director &amp; Chairman, Colliers International India, said the government along with industry experts should identify and resolve other sensitive issues effecting the sector.
 Gaurs group MD Manoj Gaur stressed on effective transmission of 135 basis point cut in repo rate this year.
 Amit Modi, Director, ABA Corp and President (Elect), CREDAI Western Uttar Pradesh said: "By maintaining the status quo, the RBI has given some kind of surprise after a long time. Unfortunately, it is contrary to our expectation.
 "Industry was expecting a rate cut as that would have somewhat provided a positive sentiment to the housing sector. Any positive news on borrowing interest rates would have provided the sector an upward trigger," said Samir Jasuja, Founder and MD, PropEquity.
 Sakshee Katiyal, CEO, Home and Soul said the industry is disappointed with the RBI's decision as real estate sector is facing huge demand slowdown. MJH MR

Realty players express disappointment over RBI decision to hold rates

<ul><li><keyword id="896278" type="PERSON" weightage="20" keywordseo="Indian-IT-services-companies">Indian IT services companies</keyword> <keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> and <keyword id="141968" type="CITY" weightage="20" keywordseo="HCL-Tech">HCL Tech</keyword> may see their stocks increase by more than 50% in the coming year, according to Edelweiss.</li><li>The current ‘tech upcycle’ could also put mid-cap stocks like MindTree and L&amp;T Infotech on the road to becoming large caps by 2035.</li><li>The surge of growth is pegged on the faster-than-expected recovery of the BFSI vertical, the prioritisation of spending on cloud services and the reduction of costs due to most employees working from home. </li></ul>The COVID-19 pandemic may have wreaked havoc on many industries but the IT sector exhibited extraordinary perseverance. Edelweiss estimates that despite the rally seen over the last three months, the best is yet to come. And, <keyword id="4126021" type="PERSON" weightage="20" keywordseo="Indian-IT-stocks">Indian IT stocks</keyword> like Infosys, HCL Tech and TCS are most likely to reap the benefits. “Among mid-caps, we believe Mindtree and L&amp;T Infotech might well be the large caps of 2035 (perhaps much like Infosys and TCS, respectively),” said the analysts’ December report on the IT sector. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Target Price </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Projected upside </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Eclerx </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1,536 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">96.70% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1,480 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">72.90% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1,850 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">63.10% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">LTTS </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹2,740 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">52.10% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹4,000 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">46.90% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mindtree </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹2,044 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">42.10% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T Infotech </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹4,197 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">28.50% </td></tr></tbody></table>Source: Edelweiss Research This is because ‘clients are more determined to spend than ever before,’ according to Edelweiss. This is further bolstered by the fact that the IT companies themselves are gaining on margins with employees working from home. Most companies will have a larger than usual budget for tech upgrades Companies don’t normally carry over their budget allocation for IT into the next year. But this time around, they’re making an exception. Majority of IT departments are likely to carry forward any of the unused technology budgets from 2020 into 2021, according to Edelweiss. That means next year, most clients of IT services companies will have a significant amount to spend in addition to traditional allocation for technology upgrades. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quarter </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS’ Total Contract Value </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys’ large deal signings </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$5.7 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.7 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2 FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$6.4 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.8 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$6 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.8 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q4 FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$8.9 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.7 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$6.9 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.7 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2 FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$8.6 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$3.2 billion </td></tr></tbody></table>Source: Respective company reports “[This implies] FY22 revenue growth for Indian technology companies can be comfortably in the 12–14% range or even more,” said the report. The best phase of the ‘tech upcycle’ The surge in spending on technology upgrades has been dubbed the ‘tech upcycle’. It’s a result of the increase in online activity during the coronavirus pandemic. Back in June, the upcycle was just kicking off and the most expansive phase — when the money actually starts rolling — is yet to begin. This is called the ‘squeeze up’ phase of the cycle. <div type="image" title="Copy of canara bank" msid="79659488" hostid="261" caption="&amp;lt;p&amp;gt;The share prices of HCL Tech, Infosys and TCS over the last six months&amp;lt;/p&amp;gt;"></div> Why will some companies gain more than others? According to Edelweiss, all IT companies have something to gain from the increased spending on digital that will flow in. But, some will gain more than others depending on where their focus lies within the digital space. For instance, spending on cloud technology is more important than investing in non-cloud digital services. “Cloud has clearly taken precedence in spends as clients now increasingly and strongly-than-ever believe that they need an agile IT infrastructure to manage variable data loads,” notes the report. With companies like HCL Tech, Infosys and TCS being the strongest contenders for cloud technology right now, they have the most to gain. Another positive for these companies is that the BFSI segment, in particular, is witnessing decade-high budgetary allocations to upgrade its technology. <div type="Article" hostid="261" msid="76334123" title="TCS, Infosys, HCL Tech and others will gain from Microsoft, Amazon and Google spending more on technology" mstype="2" mssubtype="0"></div> IT sector gains aren’t without its risks The IT sector may be on the precipice of massive growth but the risks have never been higher. A serious data breach — keeping in mind that the number of cyberattacks on companies during the last six months has been increasing — could have a serious impact on client trust and customer confidence. The depreciation of the dollar versus the rupee could also moderately affect growth and the resulting earnings estimates of IT companies, according to Edelweiss. And, while it is true that technology spends are stepping up, the North American market is an exception to that rule. Since most clients within the US are already digitally savvy, their budgets for IT may be slashed. <keyword id="6357549" type="UNKNOWN" weightage="20" keywordseo="Indian-IT-companies">Indian IT companies</keyword> may bear the brunt since, for most, the majority of their revenue comes from customers in the US. Lastly, while the BFSI sector is racing to catch up, it also means there’s a higher risk of companies within that vertical declaring bankruptcy. If a large enough BFSI client was to go bust, it wouldn’t impact the whole industry, but the IT services company providing services would be in for a rough ride. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/india-desi-gps-finally-joins-china-russia-and-the-us-after-a-two-year-long-wait/articleshow/79656300.cms">India’s desi-GPS is now in the same league as the US, Russia and China — can scan 1,500 kilometres beyond its own borders</a> <a href="https://www.businessinsider.in/science/health/news/canada-has-enough-covid-19-vaccine-doses-to-cover-each-citizen-five-times-over-while-the-fate-of-67-poor-countries-remains-undecided/articleshow/79645493.cms">Canada has enough COVID-19 vaccine doses to cover each citizen five times over while the fate of 67 poor countries remains undecided</a> <a href="https://www.businessinsider.in/india/news/farmers-plan-to-block-delhi-jaipur-and-delhi-agra-highways-starting-december-12-and-start-nationwide-protests-on-december-14/articleshow/79644167.cms">Farmers call for nationwide protest on December 14 — plan to block Delhi-Jaipur and Delhi-Agra highways starting December 12</a>

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