1996-2005: Global Impact

HCL HP becomes HCL Infosystems, National IT Task Force formed, the

Indian dotcom boom and bust, VC concept gains currency, Infosys lists in NASDAQ,

Premji becomes world's richest Indian, 100% FDI for the industry, Dewang Mehta

passes away and Kiran Karnik takes over as Nasscom president, Nandan Nilekani

takes over as Infosys CEO, Indian software companies cross the billion dollar

barrier

1996:

Rediff.com is launched by Ajit Balakrishnan and friends; it goes on

to become India's premier dotcom.

1997: HCL

and HP part ways with HCL buying out HP's 26% stake; HCL HP becomes HCL

Infosystems.

• Tata Unisys becomes Tata Infotech as Unisys pulls out of the
  
  JV.

• MNCs overtake local brands as Compaq and IBM replace HCL HP
  
  and Wipro as leading PC vendors.

1998:

The National IT Task Force formed by the Government of India. Its 108

recommendations are accepted in a record time.

• Various state governments led by Andhra Pradesh CM
  
  Chandrababu Naidu start their own IT Task Force.

• Rajesh Jain sells off IndiaWorld to Satyam for $500 mn; the
  
  Indian dotcom dream begins.

• Intel sets up multimedia lab at IISc; IBM opens its research
  
  center at IIT Delhi; Nokia sponsors IIT VLSI course.

• VC concept gains currency.

• C-DAC under Dr Vijay Bhatkar builds PARAM 1000, India's
  
  first indigenous supercomputer.

• New Internet policy announced as Satyam Infoway begins
  
  operation as the first private ISP.

1999: Infosys

becomes the first Indian company to get listed in the NASDAQ.

• Ashok Soota leaves Wipro and starts his own venture,
  
  Mindtree Consulting.

• HCL Technologies files for an IPO.

• Premji becomes the world's richest Indian; Vivek Paul
  
  brought in from GE to head Wipro Tchnologies.

• Xerox floats 100% subsidiary; increases stake in Modi Xerox.

• DoE recommends 100% FDI for the IT industry.

2000:

HP Global set up in Bangalore for back-office work.

• nDotcom bloodbath
  
  starts with Indiainfo and Indya being the two major casualties.

2001:

Tata Sons (through TCS) acquires 51% stake in CMC; Tata Group also acquires

controlling stake in VSNL.

• Dewang Mehta passes away; Kiran Karnik takes over as Nasscom
  
  President.

• Polaris acquires Orbitech.

• Global tech-led slowdown, 9/11, 12/13 and war threats are
  
  too much for the IT sector to ward off. Growth rates slip drastically.

• Nasscom sets software target of $87 bn ($50 bn exports) by
  
  2008

2002:

Nandan Nilekani takes over as Infosys CEO from Narayana Murthy.

• IBM acquires PriceWaterHouse Cooper.

• Centrino mobile technology launched in India.

• Moser Baer ties up with Imation and launches its own brand
  
  of optical media products in the domestic market.

• Microsoft India kicks off Project Shiksha in schools.

2003: Bharti

signs landmark IT outsourcing deal with IBM.

• GTL's attempted acquisition of Redington ends in fiasco.

• Wipro acquires Spectramind in the biggest BPO deal till
  
  date.

• NIIT demerges into two separate companies; the software
  
  services business is spun off as NIIT Technologies, while the training unit
  
  is called NIIT Ltd.

2004: Both

Chandrababu Naidu and SM Krishna lose elections; a big disappointment for all

pro-IT politicos, as the IT initiatives in the two states initially lose steam,

best exemplified by the closing down of the Bangalore Action Task Force.

Industry leaders concerned about Bangalore's deteriorating infrastructure.

• The US anti-outsourcing brigade gains momentum in the run up
  
  to the US election; once John Kerry loses, the movement fizzles away.

• Indian software companies cross the billion dollar barrier.
  
  TCS breaks the ceiling first, followed by Wipro and Infosys.

• The infamous MMS scandal related to DPS students breaks out.
  
  Baazee CEO is arrested leading to the opening up of the Pandora's can of
  
  legal worms.

• TCS, India's largest IT company, finally files for an IPO.

• Ingram Micro takes over Tech Pacific impacting the dynamics
  
  of the Indian channel industry.

• The Government announces its Broadband Policy, permitting
  
  the use of 2.4 GHz in outdoor locations.

• Samsung scandal breaks out with several top functionaries
  
  forced to resign.

• HCL Group launches a brand unification program, operation
  
  heartbeat.

• Bank of India outsources IT infrastructure to HP.

2005: Oracle

acquires 61% stake in i-flex for $909 mn.

• TCS, Infosys, Patni among ABN Amro's five global IT
  
  vendors. The $400 mn five-year deal is a landmark; it is the largest
  
  outsourcing deal bagged by the Indian IT industry till then.

• The image of Indian BPO takes a major hit as data theft
  
  scandals hit the country one after the another-it started with MphasiS in
  
  Pune, continued with the Sun sting operation, then Intelenet and HSBC among
  
  others.

• Wipro and TCS lead Indian companies on an acquisition spree
  
  across the world.

• AMD announces $12 bn semiconductor fabrication unit in
  
  Hyderabad.

• HR trouble brews at Intel as the company clamps down on fake
  
  claims by employees.

• Lenovo completes a textbook transition of channels and
  
  customers for IBM's PC division.

• The glass ceiling is broken with Neelam Dhawan taking over
  
  as head of Microsoft India.

• GECIS becomes a third-party provider and is rechristened
  
  GENPACT.

• TCS acquires Tata Infotech.