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<a href="http://www.businessinsider.in/searchresult.cms?query=iGate">iGate</a> CEO <keyword id="376348" type="PERSON" weightage="60" keywordseo="Ashok-Vemuri">Ashok Vemuri</keyword> has been elevated to <keyword id="10863" type="COMPANY" weightage="80" keywordseo="CapGemini">Capgemini</keyword>'s highest executive decision making body. He is now part of the company’s group management board. 
 
The decision to promote Vemuri comes months after the Paris-based <a href="http://www.businessinsider.in/searchresult.cms?query=IT+services">IT services</a> giant bought the Fremont, <a href="http://www.businessinsider.in/searchresult.cms?query=California">California</a>-based outsourcing firm for $4 billion, reported the Economic Times. 
 According to two people familiar with the move, Vemuri is part of the board along with other top executives such as chairman and chief executive Paul Hermelin; deputy CEO Salil Parekh; consulting and BPO head Olivier Sevillia; infrastructure services business Patrick Nicolet; group CFO <keyword id="1484699" type="PERSON" weightage="60" keywordseo="Aiman-Ezzat">Aiman Ezzat</keyword> and people management and transformation head <keyword id="1433443" type="PERSON" weightage="100" keywordseo="Hubert-Giraud">Hubert Giraud</keyword>. 
 
A <a href="http://www.businessinsider.in/searchresult.cms?query=Capgemini+">Capgemini</a> spokeswoman confirmed the development in an email to the financial daily: "We can confirm that Ashok Vemuri has joined Capgemini’s GMB (Group Management Board)." 
 Other top <keyword id="20356" type="CITY" weightage="100" keywordseo="igate">iGate</keyword> executives have also been given new roles such as HR head <keyword id="1828560" type="PERSON" weightage="80" keywordseo="Srinivas-Kandula">Srinivas Kandula</keyword> is now leading the integration with Capgemini from iGate's side, the people mentioned above said. 
 
In April, CapGemini said it would buy iGate, which has most of its operations and employees in India, for $4 billion in cash to create an entity with a combined revenue of about $14 billion to gain access to the world's largest technology market, North America, and some of iGate's customers like <a href="http://www.businessinsider.in/searchresult.cms?query=General+Electric+">General Electric</a> and <keyword id="141194" type="CITY" weightage="80" keywordseo="Royal-Bank-of-Canada">Royal Bank of Canada</keyword>. 
 
(Image: Indiatimes)

iGate CEO Ashok Vemuri now in Capgemini’s management board

Before French IT giant <keyword id="10863" type="COMPANY" weightage="80" keywordseo="CapGemini">Capgemini</keyword> could acquire <keyword id="20356" type="CITY" weightage="80" keywordseo="igate">IGATE</keyword>, the US-based company sold off its domestic infrastructure management services (IMS) operations to India’s <keyword id="2879848" type="UNKNOWN" weightage="80" keywordseo="MindSquare-Technologies">MindSquare Technologies</keyword> for about $5 million. 
 

	Under the agreement, MindSquare has acquired the entire Indian customer base of IGATE, along with its over 400 employees that provide remote and onsite IMS services to Indian customers of the US-based firm, as per a PTI report. 
	 

	MindSquare Technologies is a group company of Mumbai-based 1neoteric Technology Solutions. "Apart from the capability of offering end-to-end customer solutions, the deal has also helped us bring on board marque customers," <keyword id="2879846" type="UNKNOWN" weightage="80" keywordseo="Neoteric-Technology">Neoteric Technology</keyword> Solutions Head Anup Nair told PTI. These customers include <keyword id="6355199" type="CITY" weightage="80" keywordseo="Reliance-Industries">Reliance Industries</keyword>, Reliance Infrastructure, <keyword id="46907" type="CITY" weightage="80" keywordseo="Reliance-communications">Reliance Communications</keyword>, Castrol India, <keyword id="712657" type="PERSON" weightage="80" keywordseo="Anand-Bazar-Patrika">Anand Bazar Patrika</keyword>, BITS Pilani and <keyword id="6359595" type="ORGANIZATION" weightage="80" keywordseo="British-Council">British Council</keyword>. 
	 

	Though Nair did not tell anything about the deal size, sources said the deal is estimated to be worth about $5 million financed through internal accruals. Merisis Advisors advised <keyword id="912199" type="UNKNOWN" weightage="80" keywordseo="neoteric">Neoteric</keyword> on the acquisition. On April 27, Capgemini said it will buy Nasdaq-listed IGATE for $4.04 billion (Rs 25,000 crore) in cash. IGATE had bought India's <keyword id="110387" type="CITY" weightage="60" keywordseo="Patni-Computer-Systems">Patni Computer Systems</keyword> in 2011 in partnership with private equity giant <keyword id="218609" type="COMPANY" weightage="80" keywordseo="Apax-Partners">Apax Partners</keyword> in a $1.2 billion deal. 
	 

	Set up in 2012 by industry veterans Balakumar Vijayendran, Sanjay Nayak and Vaishali Bansal, MindSquare offers a range of managed infrastructure services. Earlier this year, it received a strategic investment from 1neoteric and became part of the 1neoteric Group. 

	 
	(Image: Indiatimes)

IGATE sells domestic IMS for $5 million to MindSquare Technologies

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Here is what you need to know. Legal costs weighed on Deutsche Bank. The bank announced as net profit of 559 million euros. <a href="http://www.businessinsider.com/r-deutsche-bank-first-quarter-profit-falls-by-half-as-legal-charges-bite-2015-4#">Legal expenses amounted to 1.5 billion euros ($2.5 billion)</a>, with Reuters reporting it "raised contingent liabilities - or legal costs that it deems possible but unlikely - by half to 3.2 billion euros."HSBC is considering spinning off its UK retail banking unit. Such a move would make for a $30.37 billion dollar deal. <a href="http://www.businessinsider.com/r-hsbc-considering-spinning-off-british-retail-bank-sunday-times-2015-4">Reuters reports</a>, "A UK law forcing banks to separate their domestic retail operations by 2019 is likely to be a key factor in any decision."Corinthian Colleges is closing all of its schools. The school is <a href="http://www.nbcnews.com/news/education/corinthian-colleges-shuts-down-ending-classes-16-000-overnight-n348741">closing its 28 for-profit schools</a>, meaning approximately 16,000 students will have to finish their degrees elsewhere. According to NBC, the Department of Education will "help the stranded students review their options, including possibly forgiving some of their loans."Cap Gemini will buy IGATE for $4 billion. Cap Gemini will pay $48 per share for IGATE, a 4.7% premium to Friday's closing price. <a href="http://www.reuters.com/article/2015/04/27/us-igate-m-a-cap-gemini-idUSKBN0NI0D720150427">According to Reuters</a>, "The acquisition will strengthen its businesses in application and infrastructure services as well as business process outsourcing and engineering services, also adding new flagship clients such as General Electric and Royal Bank of Canada."The Applied Materials and Tokyo Electron merger has been called off. The $29 billion deal announced in September of 2013 has been scrapped due to <a href="http://www.wsj.com/articles/applied-materials-tokyo-electron-scrap-merger-plan-1430117758">problems with the US Justice Department</a>. "There remains a gap between the view of Tokyo Electron and Applied Materials and the view of the United States Department of Justice, and it has become apparent that such gap will not be able to be bridged," Tokyo Electron said in a statement.Japanese debt was downgraded at Fitch. Japan's credit rating was lowered one-notch to 'A' at Fitch. The agency cited "<a href="http://www.wsj.com/articles/fitch-downgrades-japan-over-fiscal-concerns-1430128871">the high and rising level of government debt</a>" as reason for the downgrade after previously warning on the issue. Japan's yen is down 0.3% at 119.35 per dollar.A computer glitch at Starbucks has been resolved. On Friday, <a href="http://money.cnn.com/2015/04/24/news/companies/starbucks-computers-down/">cash registers were down</a> at locations in the US and Canada. The glitch caused some stores to give away drinks for free. Global stock markets trade mixed. China's Shanghai Composite (+3%) surged to a seven-year high to pace the advance in Asia. Meanwhile, in Europe, France's CAC (-0.9%) leads the decline. S&amp;P futures are higher by 4.50 basis points at 2116.25. Apple reports following today's closing bell. Wall Street is looking for <a href="http://www.businessinsider.com/apple-q2-earnings-preview-2015-4">earnings of $2.14 per share</a> on revenues of $55.96 billion. Expectations call for 58.1 million iPhones to be sold. US economic data is light. Flash Services PMI will cross the wires at 9:45 a.m. ET. The US 10-year yield is up 1 basis point at 1.92%. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/how-to-burpee-full-body-workout-2015-3">This simple exercise will work out every muscle in your body</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="lyeGY3dDqIOrfWUeyzqcSzvAuvKi9t3n" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

10 things you need to know before the opening bell

Recently, <keyword id="23555" type="COMPANY" weightage="40" keywordseo="Globallogic">GlobalLogic</keyword>, an IT outsourcing firm that was started by 4 IIT graduates, was acquired by <keyword id="6406022" type="COMPANY" weightage="80" keywordseo="Apax">Apax</keyword> for a sum of $ 420 million. We had an exclusive chat with Tarun Updhyay, Co-Founder of Globallogic about the new deal and what is in store. Here is what he had to say: 
 
Why did you take the decision to go for a buyout deal instead of raising additional funding? 
It has been done from the perspective of long-term shareholder interest. It made more sense to go for a buyout. 
 
Is there any specific reason to bring in Apax as partners? Will GlobalLogic operate as a separate entity post acquisition or will it be a part of iGate? Along with the stellar reputation of Apax, they had two specific things going for them. One, they are not focused on a particular country but are a global fund. Two, they prefer long-term <keyword id="6362476" type="ORGANIZATION" weightage="40" keywordseo="investments">investments</keyword> with a growth focus. That made the Apax deal a great win-win for all parties involved. 
 
I expect GlobalLogic will continue to operate as a separate entity for the foreseeable future. 
 
Is it going to be one of the biggest exits for VC investors in <keyword id="3658" type="COUNTRY" weightage="40" keywordseo="India">India</keyword>? What’s you take on this? 
Indian entrepreneurs have finally started to get their share of large, successful exits. This trend is only going to grow. There are many small and large Indian-owned companies that are focused on global markets. So we should see many more large exits from India-based and Indian-owned companies. 
 
Three of GlobalLogic founders including me are now focusing on our new start-up hCentive, which is already valued upwards of $125 million. 
 
Why did you discard the IPO plan in the first place? 
The IPO market has its own complexities, especially for such a diverse and global operation as GlobalLogic. It made more sense to find one buyer at this stage, rather than go for the public markets. 
 
How will the acquisition benefit GlobalLogic? 
GlobalLogic will benefit from the global presence of Apax and their vast portfolio across various industries. We anticipate that the company will continue to grow. 
 
How do you view the global market for software development outsourcing? Does India still hold a key position in this space? 
Software development outsourcing industry in India will continue to grow, although the margins will come under more pressure. 
 
The large pool of trained and globally exposed IT professionals is finally leading to a sea of change in the industry mindset. Many more of the upcoming companies are now building interesting, innovative products that target the worldwide market. That is the real opportunity. 
 
The next worldwide software success may come from India! 
 
We are sure it is a bit early to ask, but has an Indian or global roadmap been decided? Can you shed some light on it? 
It is certainly too early for a new roadmap. It might take some time for things to evolve.

EXCLUSIVE – Tarun Upadhyay, Co-Founder Of GlobalLogic, Talks About Its Acquisition By Apax

<ul class="summary-list"><li>My husband has been a teacher for almost 20 years.</li><li>We've learned a lot about how to have a successful back-to-school season.</li></ul>My husband is about to start his 19th year of teaching, our eldest is starting 7th grade, and our youngest is starting 1st grade. In our family's collective decades of experience, the one motto we try to embrace at the <a target="_blank" href="https://www.businessinsider.com/back-to-school-season-tips-teacher-parent-2024-8">beginning of each school year</a> is that everything is variable. Most of our parent friends try to control for all the variables — school, teachers, and sometimes even friends or classmates — and we've learned that it rarely works as intended.We are not completely immune to the urge to control things. We pushed for our youngest to have the <a target="_blank" href="https://www.businessinsider.com/retaining-one-child-not-other-back-to-back-grades-2024-8">same teacher as her big sister</a>, but ultimately, we try to remember that there are plenty of moving pieces, and that trying to control them all will only lead to more stress and disappointment.The so-called "<a target="_blank" href="https://www.businessinsider.com/how-nyc-parents-got-kids-into-top-preschools-2021-2">perfect school</a>" might not be a perfect fit for our child, and the person everyone considers the best teacher might not be the best teacher for our kid. Classrooms change, and with them, classroom dynamics. Everything is variable, and while it is tempting to try to control our situation, we try to be open to the possibilities and help our kids nav<a target="_blank" href="https://www.businessinsider.com/what-i-learned-teaching-in-public-school-for-23-years-2023-9">https://</a><a target="_blank" href="http://www.businessinsider.com/what-i-learned-teaching-in-public-school-for-23-years-2023-9igate">www.businessinsider.com/what-i-learned-teaching-in-public-school-for-23-years-2023-9igate</a> them.<h2 id="c1116e2e-3ba7-4f06-a318-05f00090d092">Focus on what you can actually control</h2>Parenting seems to be a neverending practice in facing our ultimate lack of control as humans. As the quote from author Elizabeth Stone goes, "Making the decision to have a child — it is momentous. It is to decide forever to have your heart go walking around outside your body." It is daunting to experience this vulnerability firsthand, and with it comes an overwhelming impulse to try and bend the world to our will, at least in terms of protecting our little ones.I try to remember this simple phrase from a friend: "Control the controllables." I can (usually) control whether my clothes are clean, what we pack for lunch, and <a target="_blank" href="https://www.businessinsider.com/prepare-kids-back-to-school-season-tips-2024-8">getting the kids to school</a> on time. I cannot control what happens on the playground, what they actually eat, or the 16-car pileup on the freeway. That is to say, I cannot control life.<h2 id="5e9713ab-4b4f-49d7-8a87-8bebccaaa74d">Just because it seems better on paper, that doesn't always mean it is</h2>Throughout his almost <a target="_blank" href="https://www.businessinsider.com/what-i-learned-teaching-in-public-school-for-23-years-2023-9">two-decade tenure as a math teacher</a>, my husband has experienced the gamut of classroom situations, from ideal to almost unbearable. For five years, he taught at a new, early college high school. Highly academically achieving students would apply, as it seemed like the better option.However, the increased course load and accelerated schedule did not always work. Even though the school was "better" on paper, it did not mean it was the better academic situation for every student. Previously thriving students would sometimes fail, not because of ineptitude on any one side but simply because the best academic environment is not a monolith.<h2 id="53419bbd-049e-4979-a154-e1e61e0ec77e">What works for one kid might not work for the next</h2>There are things you know, and then there are times when this knowledge is put to the test. My husband and I, who are actively hands-off when requesting teachers, broke our rule regarding our youngest starting pre-K in our <a target="_blank" href="https://www.businessinsider.com/private-kindergarten-costs-84000-were-making-school-district-pay-2023-7">public independent school district</a>. We loved our eldest's teacher, and both requested that her sister have the same one.We got our wish, but everything was different for our second-born. She entered school when the pandemic was still an active factor, with peers equally disoriented from recent isolation. Despite knowing this teacher since birth, she cried every day until April of that school year. Though her teacher was amazing, still, our youngest had a completely different experience and struggled through most of her first year. We learned the hard way that, whether it's because of the teachers themselves or the circumstances, education isn't one-size-fits-all.We sought out an idyllic situation and faced an unsolicited opportunity to guide ourselves and our child through rocky terrain. After all, that is what life is made of, and we want our kids to be able to embrace and enjoy the journey with all its ups and downs.

My husband has been a teacher for 18 years. This is the beginning-of-school motto our family lives by.

Krishnan <keyword id="6356252" type="PERSON" weightage="20" keywordseo="Ganesh">Ganesh</keyword>, has played a lot of roles in his life; from an engineer, to an entrepreneur, to now a venture builder, and his life has been nothing short of an trial. While his shoes have been too big to fill and as they keep changing, he is currently pioneering a unique model with Growth Story in India, which is probably only made popular by Rocket Internet in the country. GrowthStory is the venture-builder platform that Ganesh and his wife, Meena set up in 2011 which has promoted some of India's most disruptive start-ups including Portea Medical, Big Basket, Fresh Menu, Home Lane, AcadGild, HouseJoy, Social Frontier and many more. 

 

 

 

 

 

 

 

 

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This model is unique due to the fact that while Ganesh and Meena come up with entrepreneurial ideas, they hire executives to pull it off. It is not primarily "investment" only, but where GrowthStory is the "promoter," but where the Partners are often the originators of the idea, work to get a founding team in place, drive fund raising early in the game, work closely with founders to scale the venture, guide strategic direction et al. This ‘express’ entrepreneurship that the power couple pull through is extraordinary and the back- story to it is a roller coaster that, you can’t forget. Early life and career Ganesh’s father died in an accident when he was just nine years old and as the eldest of three siblings, he felt the need to set an example. His mother was a hard-working government servant and bought them up to the best of her capabilities.

 

 

 

 

 

 

 

 

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So Krishnan, became a mechanical engineer passed out from Delhi College of Engineering, and even got a post graduate degree from IIM before realizing that he didn’t want to be an engineer or just an MBA graduate. Ganesh credits his entrepreneurial trials to <keyword id="44903" type="PERSON" weightage="20" keywordseo="Shiv-Nadar">Shiv Nadar</keyword>, under whose guidance he experienced different business function, “I worked for five years in various functions and also as executive assistant to Shiv Nadar. My first venture started in 1990, a company called IT&amp;T where me and my friends pooled in money to get it started,” he told Business Insider. He ran the company till 1998 and remained the largest shareholder and director of the company till 2003 when it was sold to iGate. He went back to the corporate life but after two-years stint went back to entrepreneurship with his second business venture called CustomerAsset with Meena and another partner. It was later acquired by ICICI Bank in 2002 and Ganesh made $ 20 million for his stake in the company.

 

 

 

 

 

 

 

 

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In 2003 he stumbled upon an innovative new company called Marketics which was started by IIT and IIM graduates. Ganesh was approached for investment, mentoring and guidance. This company was also sold off to WNS, for $65 million where only half a million dollars were invested in this business without venture capital funding. Then Ganesh again started his own business with TutorVista in 2006 which was bought out completely by Pearson for Rs. 1000 crore. His multiple hits have led him to be where he is, but that isn’t without the missus by his side. When the the last acquisition happened, Ganesh and Meena decided to take the hard road and continue their entrepreneurship journey albeit this time, differently. "Only 5 per cent of start ups succeed and Ninety-five per cent end up failing. I see still young entrepreneurs after starting a company against all the odds. I'm addicted to fueling that until I can," says Krishnan when asked about why his family still makes risky businesses instead of just ‘settling down’. 

 

 

 

 

 

 

 

 

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The Perfect Pairing When it comes to Meena and Krishnan Ganesh, their complementary skill sets have given fuel to the train that is Growth Story. Professionally, Meena is more lauded as the CEO of <keyword id="6398216" type="COMPANY" weightage="20" keywordseo="Tesco">Tesco</keyword>,No.2 at <keyword id="10387" type="CITY" weightage="20" keywordseo="Microsoft">Microsoft</keyword> and now CEO at Portea, but Ganesh is the visonary that knows they can achieve so much together. As co-founders and life partners, they know that team work is the key to making a venture start and keep it running.

Exclusive: K. Ganesh Made BigBasket and Portea Medical Blockbusters in India, and This is his Unique Life-story

<div class="image-container float_right" style="width:400px"><div class="image"></div>Vivek Prakash/Reuters</div>BANGALORE/MUMBAI, March 25 (<keyword id="76338" type="CITY" weightage="60" keywordseo="Reuters">Reuters</keyword>) - <keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword>'s IT outsourcers are promoting "mini CEOs" capable of running businesses on their own, while trimming down on the hordes of entry-level computer coders they normally hire as they try to squeeze more profits out of their staff.
The shift by Infosys Ltd and others is symptomatic of a maturing industry that wants more revenue from its own intellectual property instead of providing only labour-intensive, lower-margin <keyword id="6363148" type="TECHNOLOGY" weightage="60" keywordseo="information-Technology">information technology</keyword> and back-office services.
For young graduates who see the $108 billion IT industry as a sure pathway to modern India's growing middle class, the transformation is unsettling.
Dozens of industry aspirants who were recruited on campus by No. 4 player HCL Technologies recently protested outside its offices in several cities. They were offered jobs in 2011 before graduating last year but have not yet been given joining dates - or paychecks.
"Dear H.R. You were also a fresher... once," read a sign carried by two protesters in a photo in The Hindu newspaper.
HCL's December quarter profits and revenues rose while staff numbers shrank - a rare trick in an industry that has long aspired to break the linear relationship between headcount and revenue growth.
Just 20 percent of the 5,000-6,000 campus recruits offered HCL jobs in 2011 have been taken on board since graduation last summer, and HCL said it made no offers in 2012 to students who would graduate in June 2013.
Slower growth, fewer people leaving, greater demand by customers for experienced staff, and increased productivity through automation and software have put pressure on all recruits, according to HCL, which said it expects to accelerate bringing entry-level staff on board from August.
"It's not that the demand doesn't exist. It exists for different skills," said Ajay Davessar, HCL's head of external communications.
"Typical roles which a student thinks, 'I'll just go there and start coding, and have a good life,' are being tested to reality... Any applicant, be it fresher or senior, will have to have flexibility in applying the skills elsewhere."
FEWER 'CODING COOLIES'
<keyword id="6358815" type="COMPANY" weightage="60" keywordseo="tech">Tech</keyword> Mahindra Ltd, the No.5 player, is naming 100 of what it calls mini-CEOs who will be given broad latitude to run their parts of the business.
"We're moving towards a situation like the developed economies, where we're asking the people to be more deep," said Sujitha Karnad, who heads human resources at Tech Mahindra.
"We want more solution architects to be here. We don't want the coding coolies anymore, that's clear," Karnad said, employing a term commonly used in India in association with menial labourers.
While plenty of Indian back office work such as technical support, processing insurance claims or staffing call centres will remain labour-intensive, software services firms are looking to move up the value chain, which means relying less on the time and toil of staff.
Growth in revenue per employee across the industry could expand to 5 percent a year in the next two years from about 3 percent over the past five, said Forrester Research principal analyst Frederic Giron. The growth rate is likely to accelerate from around 2015 as intellectual property-based work accounts for a growing share of the total, he said.
India's IT services industry grew in large part because of the availability of cheap skilled labour, an advantage that is eroding as wages and other costs in India rise.
In years past, it was cost-effective for IT companies to hire new graduates by the thousands and keep a portion on the "bench" awaiting deployment on a client project.
But budget-constrained clients now demand shorter lead times. IT vendors that might have hired people six months in advance of an expected contract are now working with a one- or two-month window, said Surabhi Mathur Gandhi, senior vice president at TeamLease, a staffing consultancy.
Traditionally, about 30 percent of Indian IT services industry staff are on the bench at any given time, often in training, as they await deployment to client work.
In the December quarter, about 70 percent of Infosys staff and less than 65 percent at No. 3 provider Wipro were deployed on billable projects. At Tata Consultancy Services , the largest Indian IT services company, the figure was 72 percent, within what Ajoyendra Mukherjee, its human resources head, calls the comfort range of 70 to 74 percent utilisation.
"I think we can push it up to 75, 76," he said.
Another IT services company, iGate Corp, envisions a future where just 10 percent of staff sit on the bench, said Srinivas Kandula, its human resources head, who predicts that the size of its bench will shrink by 2 or 3 percentage points a year over the next five years.
BACK-UP PLAN
Shorter benches mean a smaller share of hiring is direct from campuses, as seasoned professionals moving from a competitor would be less willing to wait to be deployed and firms are reluctant to pay them to do so.
Companies are also binding hires, especially experienced ones, with three-month notice periods and no-buy-out clauses, compared with one-month notice periods previously.
Among top-tier companies that are most actively trying to push non-linear growth where revenues are not constrained by the size of the work force, about 70 percent of employees are experienced staff, up from 60 percent in 2008, said Rajiv Srinivas, an associate director at Tech Mahindra, who expects that to rise to about 90 percent in the next two or three years.
At Infosys, while the net quarterly addition of employees fell from 4,906 people in the March quarter last year to 977 in the December quarter (excluding an acquisition), lateral recruitment held steady at an average of about 4,300 staff per quarter through December, meaning the percentage of campus hires was much lower.
"Earlier, the focus was more on career ... You get into a job, you start learning, and slowly acquire knowledge over a period of time," said Sunil Gupta, who joined Infosys as vice president of quality about six months ago from the Indian unit of CGI Group's Logica Plc.
"Today the value of a professional is judged by how quickly you're learning, how quickly you're adapting yourself and changing along with the environment," he said.
For young Indians who saw IT as a ticket into the middle class, the change means that career path is becoming less clear. Those who do break in and build valuable skills will remain in demand, but the days of young IT staffers brandishing five or more competing offers are over.
Yet that hasn't necessarily translated into slower wage growth. Mercer LLC expects industry salaries to grow 12 percent this year, the same as in 2012. As India's economy diversifies, graduates have more attractive career options, including at multinationals with a growing India presence, such as Google Inc , which means IT vendors must fight to stay attractive.
"We see IT companies as a back-up," said S. S. Jayaram, a final-year engineering student in Bangalore who says he chose a job in India with Mu Sigma Inc, a fast-growing U.S.-based data analytics company, over offers from IBM and TCS. (Editing by Emily Kaiser)
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The $109 Billion Indian IT Industry Is Going Through A Massive Shift

If you think <keyword id="10387" type="CITY" weightage="60" keywordseo="Microsoft">Microsoft</keyword>’s prolonged search for the next <keyword id="5645" type="POSITION" weightage="100" keywordseo="CEO">CEO</keyword> is getting a bit nutty, especially with a disgruntled <keyword id="62333" type="PERSON" weightage="60" keywordseo="Steve-Ballmer">Steve Ballmer</keyword> waiting on the sidelines to hand over the mantle, you are not far from the truth. But then, that is the actual state of the coveted C-Suite nowadays – volatile is the right word if you want to sum it up. There is no job security at the top and even the best performer for years can get redundant within the span of a few weeks. The issues could be many – right from <keyword id="646347" type="UNKNOWN" weightage="100" keywordseo="poor-performance">poor performance</keyword> to <keyword id="610960" type="UNKNOWN" weightage="100" keywordseo="business-restructuring">business restructuring</keyword> to alleged <keyword id="6375736" type="UNKNOWN" weightage="100" keywordseo="corruption-charges">corruption charges</keyword>. But the biggest factor is relevance, a perfect future-fit that can take companies ahead, according to <keyword id="67736" type="UNKNOWN" weightage="100" keywordseo="Industry-experts">industry experts</keyword>. In a difficult <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword>, companies are compelled to twist and turn to keep track of profitability and their requirements change accordingly. Hence, their leaders have to adapt, shape up or ship out, as the case might be. 
 India is no exception and business leaders across the country have been frequently ‘released’ by industry giants. Many of them leave with ‘immediate effect’ while others are on garden leave or worse still, waiting for their predecessors to turn up (just like Ballmer). Yet, most of the C-Suite executives are tight-lipped about their departures, at least here in India. We are yet to come across an announcement like the one made by <keyword id="384914" type="PERSON" weightage="60" keywordseo="Groupon">Groupon</keyword>’s founder and former CEO <keyword id="488139" type="PERSON" weightage="60" keywordseo="Andrew-Mason">Andrew Mason</keyword>. But exit happens all the same – be it discreet or blatant. Here’s a quick look at some of the top-notch C-Suite executives from India who parted ways with their respective companies in 2013, their official exit lines and what happened behind the scene.

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The $109 Billion Indian IT Industry Is Going Through A Massive Shift

Reuters

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Sanghamitra Mandal

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