Increased urbanisation, demand for financial services, increased funding by the government for the weaker sections and the rural sector have opened up new opportunities for India Post
Tata Consultancy Services (TCS), India's largest information technology (IT) company, on Wednesday said it has won a six-year contract worth over Rs1,100 crore from the Department of Posts (DoP).
The project, dubbed as India Post 2012, includes developing and supporting mail, finance and accounts, human resources (HR), and customer interaction management solutions for all channels including Rural ICT platform.
"India Post has a vision of being a technology-enabled self-reliant market leader and is looking to move from a government service provider to a customer-enabled service provider where the customer will be the focus of multifarious service delivery platforms," DoP Secretary P Gopinath said.
Under the deal, TCS will also manage data migration, infrastructure, Service Level Agreement (SLA), call centre and centralised 24x7 service desk operation for DoP, the company said in a release.
The end-to-end IT modernisation programme to be implemented by TCS will equip India Post with modern technologies and systems to enable it to provide services to customers in an effective manner, TCS said in a statement.
"The core system integrator project is about service delivery transformation through a technology-led, service- oriented approach to offer world class delivery of postal services to Indian citizens," TCS Vice President and Global Head (Government Industry Solutions Unit) Tanmoy Chakrabarty said.
The end-to-end security solutions, Enterprise Management System (EMS) and over all integration for entire system is the responsibility of core system integrator (CSI), the statement said.
According to Nomura, while the price rise has been more moderate in non-metro cities, the continued surge of house prices in metro cities suggests investment demand is the primary driver
Given elevated house prices, subdued job markets and lower household incomes, real demand should remain subdued. Consequently, in the absence of real demand, investment demand alone may not be able to sustain the excess return in metro cities, says Nomura Research.
According to the Reserve Bank of India (RBI)'s house price index, residential property prices in India have grown at a compounded annual growth rate (CAGR) of 21.4% between first quarter of 2009 and fourth quarter of 2012. Further, there has been a large divergence between growth in metro cities (CAGR: 24%) and non-metro cities (15%), even more so in the last year.
Nomura said, the growing divergence between metro and non-metro prices cannot be solely due to supply factors. "It also appears to reflect growing investment demand, which is typically concentrated in large metro cities due to higher liquidity. In contrast, the economic slowdown over the last few years has likely affected real demand in non-metro cities," it added.
There is plenty of room for further price reductions in the near future, for all types of,...