‘Slowdown is a cyclical process; it will be followed by good days’
Slump or no slump, no Fortune 500 company can think of scaling new heights without having an Indian connection — be it Indian techies on its pay roll or engaging an Indian IT company, according to MindTree Limited Chairman Subroto Bagchi.
Referring to the fallout of market meltdown on Indian IT sector, Mr. Bagchi, author of bestsellers — The High Performance Entrepreneur, Go Kiss the World, The Professional MBA at 16, and The Professional Companion — said ups and downs were part of the game one should be prepared to face them all.
He said the Indian IT industry, which has a business worth $100 billion at present, would have three-fold growth by 2020. “IT is the biggest contributor to the nation’s GDP.” On economic slowdown having a tell-tale effect on IT firms, he said efficient organisations should build insulation for bad times. “Slowdown is a cyclical process. It will be followed by good days.” He said 9/11 triggered multiple slowdowns, but the industry, as a whole, had built resilience.
Mr. Bagchi, governing council member of Software Technology Parks of India, who launched his experience and thoughts on ‘scaling’ in his latest bestseller ‘The Elephant Catchers’, shared key lessons for breakthrough growth in an exclusive interview with The Hindu on Sunday.
Confident of India turning into a major IT power, he said students passing out professional courses could get lucrative jobs with value addition by doing courses in cloud computing, mobile applications and analytics, cyber security, and intelligence computing.
He said the IT sector was poised for big growth with an exciting future and pointed out how MakeMyTrip.com had become a big hit being an innovative business model using IT as a tool. Use of IT led to timely prediction of severe cyclonic storm Phailin recently, thereby helping the Odisha government evacuate nine lakh people and ensuring minimum human casualties.
Stating that virtually everyone was carrying a computer in their hands with tablets, smart phones, and I-phones becoming popular devices, he said mobile banking was a time-saving option and in future micro banking would become more popular.