Tata Consultancy Services CEO and Managing Director N. Chandrasekaran, on Saturday, said next year would be a better one for the $100-billion Indian IT industry, driven by pick up in demand and increased spending on digital technologies such as mobility, cloud and data analytics by businesses.
Stating that the overall technology environment is seeing a significant transformation because of the digital technologies, he said, “this is resulting in huge opportunities, and we are seeing customers from different markets and industries looking at their business in the context of digital technologies.”
“We are making significant investments in helping customers rethink and re-imagine their businesses in this context,” he told The Hindu in an interview on the sidelines of a summit here.
Asked if he sees improved environment for the industry next year, Mr. Chandrasekaran said, “We still need to wait… Last year, we said 2013-14 will be a better year than 2012-13 and that is true. Currently, where I am, initially indications are that the next year will be a better year than current year.”
On whether the growth rate in the range of 12-14 per cent has now become a norm for the industry, he said, “I can not predict that… the fact of the matter is there was a slowdown but it (the industry) has picked up momentum… this year has been better than last year and next year is definitely going to be better than this year. So given that I think we are on the upward curve.”
Demand momentum had picked up. “The trend (in demand) is two-fold. One is to drive efficiency, but significant investments are happening in digital technologies. To that extent there is more money being spent on digital (mobility, cloud, big data analytics),” he said.
The domestic IT industry in the past couple of years has been grappling with issues such as uncertain macro environment, volatile currency environment and high production input prices.