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NIIT

For the federal income tax in the United States, see Affordable Care Act tax provisions § Net investment income tax. For the Estonian language surname, see Niit (surname).

NIIT Limited
Company typePublic
BSE: 500304
NSE: NIITLTD
IndustryHigher education
GenreInstitute of technology
Founded1981; 44 years ago (1981)
FounderRajendra S. Pawar
Vijay K. Thadani
HeadquartersGurugram, India
Key people
Rajendra Singh Pawar (Chairman)
Vijay Kumar Thadani (Vice Chairman and MD)[1]
Pankaj Jathar (CEO)[2]
ServicesSkills and Talent development
RevenueIncrease ₹1,038 crore (US$120 million) (2021)[3]
Decrease ₹160 crore (US$18 million) (2021)[3]
Number of employees
907 (2024) [4]
Websiteniit.com
NIIT 40 Years Logo

NIIT Limited (National Institute of Information Technology) is an Indian multinational skills and talent development corporation headquartered in Gurgaon, India. The company was set up in 1981 to help the nascent IT industry overcome its human resource challenges. NIIT offers training and development to individuals, enterprises and institutions.

History

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NIIT was established in 1981 by Rajendra S. Pawar and Vijay K. Thadani, graduates from IIT[5] Delhi, with one million rupees. NIIT conceived a franchising model in IT education for the very first time, setting up nine centers by 1987.

In 1986, NIIT began its foray into the software domain, beginning with Software Product Distribution under the 'Insoft' brand.[6] The company also began offering advice and consultancy to large corporations on how to leverage technology and make optimum use of their IT investments.

In 1988, NIIT introduced many marketing and advertising strategies for the Indian market including the 'Computer drome' in 1990.[7] Another initiative launched by NIIT, was its Bhavishya Jyoti Scholarships program, launched in 1991, which was targeted at deserving and socially challenged students with an aim to improve their skills and employability quotient.

In 1992, NIIT launched its flagship program GNIIT, an industry-endorsed course with a 12-month Professional Practice for students seeking careers in the IT and non-IT sectors. By 1993, the NIIT stock began trading on Indian stock exchanges. In 1996, NIIT began its globalization journey, setting up an education center in Hong Kong. In the same year, the company launched its virtual university 'NetVarsity'. In 1998, NIIT joined a handful of Indian tech companies to enter the Chinese market.

The company earned the epithet, the 'McDonald's of the software business' by Far Eastern Economic Review in September, 2001.[8] The same year, NIIT launched an experiment that was christened 'Hole-in-the-Wall' by media and drew international attention. The experiment was based on the ‘minimally invasive education’ methodology developed by NIIT R&D. It suggested that children, irrespective of their social, ethnic, or educational identity could learn to use computers by themselves, without adult intervention. In 2003, NIIT launched its MindChampions Academy (MCA) with Viswanathan Anand, five-time former World Chess champion and NIIT Brand Ambassador.

NIIT University, Neemarana

In 2004, NIIT sectioned off its software business into an independent organization called NIIT Technologies Ltd. (Source: NASSCOM's 2013–14 Ranking of Top 20 IT services companies). In the area of training, NIIT launched its 'Edgeineers' program in 2005, to boost career opportunities for engineering graduates. In 2006, it diversified into various new sectors for training, such as banking, finance and insurance (through IFBI), executive management education (through NIIT Imperia brand), Professional Life Skills training and business process management training (through Evolv and NIIT Uniqua).

In 2009, NIIT University (NU), a not-for-profit University was established, under section 2(f) of UGC Act and notified by the Government of Rajasthan.

In 2014, NIIT tied up with National Skill Development Corporation to launch NIIT Yuva Jyoti centers, under the pilot phase of Prime Minister Narendra Modi's Skill India campaign and the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) in North East, J&K and Jharkhand.[9]

In May 2019, Baring Private Equity Asia had acquired controlling stake of NIIT Ltd in NIIT Technologies Ltd.

In August 2020, NIIT Technologies Ltd. rebranded itself and began operating under the name Coforge Limited. [10]

Acquisitions

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In 2001, NIIT acquired Osprey Systems,[11] DEI and Click2learn in the US,[12] to establish its e-learning and corporate learning practices in that country.

In 2006, NIIT acquired Element K, a provider of learning solutions in North America. Subsequently, Element K was sold off in 2012.[13]

On October 1, 2021 NIIT announced the acquisition of a 70% stake acquisition in RPS Consulting, a Bengaluru based training company.[14]

Financial controversy

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On June 9, 2022, the Securities and Exchange Board of India concluded an investigation regarding insider trading within NIIT Technologies. The investigation verified that insider trading had occurred, as a result of a corporate announcement made on behalf of NIIT on the floor of the National Stock Exchange of India on March 23, 2015.[15]

NIIT subsidiaries

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Timeline

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Business units

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NIIT has two main lines of business across the globe – Corporate Learning Group and Skills & Careers Business.

NIIT's Corporate Learning Group (CLG) offers Managed Training Services (MTS) to market-leading companies in North America, Europe, Asia, and Oceania. The Skills & Careers Business (SNC) delivers a diverse range of learning and talent development programs to millions of individual and corporate learners in areas including Digital Transformation, Banking, Finance & Insurance, Retail Sales Enablement, Digital Media Marketing, and new-age IT. NIIT has incubated, StackRoute, as a digital transformation partner for corporates to build multi-skilled full stack developers at scale.

See also

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References

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  1. ^ "Niit Ltd". Bloomberg. Bloomberg Business. Retrieved 8 July 2015.
  2. ^ "NIIT Ltd. Appoints Pankaj Jathar as Chief Executive Officer". NIIT. 1 July 2024. Retrieved 1 July 2024.
  3. ^ a b "Infosys Consolidated Profit & Loss account, Infosys Financial Statement & Accounts". moneycontrol.com. Retrieved 14 May 2021.
  4. ^ "NIIT Overview". 21 August 2024.
  5. ^ "NIIT pioneered IT education in India". The Economic Times. The Economic Times. 18 November 2011. Retrieved 10 September 2015.
  6. ^ "NIIT". Global Recorder. Retrieved 10 September 2015.
  7. ^ "NIIT Institute for Hardware and Networking Courses". Edu Milestones. Retrieved 10 September 2015.
  8. ^ "NIIT". Super Brands India. Retrieved 10 September 2015.
  9. ^ "Industry exalts Govt's Skill India Campaign". India Education Review. Retrieved 10 September 2015.
  10. ^ "NIIT Technologies is now Coforge". Coforge. Retrieved 15 September 2022.
  11. ^ "NIIT acquires Osprey for $3 m". Ciol. 31 March 2002.
  12. ^ "CNN.com - NIIT, Click2learn form alliance - January 23, 2002". edition.cnn.com. Retrieved 29 April 2022.
  13. ^ "NIIT sells Element K to SkillSoft for $110 mn". Business Standard India. Press Trust of India. 17 October 2011. Retrieved 29 April 2022.
  14. ^ "NIIT acquires 70% stake in RPS Consulting for Rs 82.3 cr". The Economic Times. Retrieved 29 April 2022.
  15. ^ "Sebi bans imposes fine in NIIT Technologies insider trading case". Business Standard India. The Economic Times. 9 June 2022. Retrieved 15 June 2022.
  16. ^ "Academic Alliance". MMBL Cyber skills. 30 June 2009. Retrieved 16 October 2007.
  17. ^ "Schooling for the millions in emerging information economies is the challenge of Rajendra Pawar's renewed NIIT". Forbes. 30 June 2007. Retrieved 16 October 2007.
  18. ^ "NIIT Campus about most popular GNIIT program". 30 June 2008. Retrieved 16 October 2007.
  19. ^ "Received ISO". NIIT. 30 June 2008. Retrieved 16 October 2007.
  20. ^ "NIIT builds defence software for Singapore". Rediff on the net. 20 November 1997. Retrieved 16 October 2007.
  21. ^ "IT briefs: Oracle, NIIT forge alliance". The Hindu Business Line. 8 March 2000.
  22. ^ "NIIT teams up with Sun for iForce initiative". The Hindu Business Line. 16 June 2000. Retrieved 16 October 2007.
  23. ^ "Award for NIIT". The Hindu. 6 June 2001. Archived from the original on 9 November 2012. Retrieved 16 October 2007.
  24. ^ "Intel, NIIT to boost tech learning". Rediff News. 22 November 2004. Retrieved 16 October 2007.
  25. ^ "NIIT enters management education". The Economic Times. 16 September 2006. Retrieved 16 October 2007.
  26. ^ "NIIT ties up with Infospectrum for research solutions". Sify Business. 24 June 2008. Archived from the original on 29 October 2014. Retrieved 16 October 2007.
  27. ^ "NIIT University Campus, a breakthrough innovation". The Economic Times. 5 April 2009. Retrieved 16 October 2007.
  28. ^ "NIIT enters Test Preparation Market with CTET Coaching". PR Log. 30 October 2013. Retrieved 30 October 2013.
  29. ^ "NIIT completes demerger of company". Business Line. 25 May 2013. Retrieved 24 August 2023.
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