Express News Service
BENGALURU: There is, perhaps, no other sector other than the tech industry that made the most out of the Covid-19 pandemic with technology becoming integral to businesses worldwide. Going forward, the tech czars in India believe that the opportunities are massive.
Addressing a virtual round table talk with industry peers during the Nasscom’s Technology leadership Forum 2021, HCL Tech CEO C Vijayakumar said the incremental technological spends of enterprises for the next 4-5 years will present a trillion dollar opportunity. Within that, the IT industry is likely to have a 20 per cent share amounting to a $200 billion opportunity, he added.
Salil Parekh, CEO, Infosys concurred. He said there is a chance that the industry will double its revenue mark in the next few years with a huge focus on enabling digital transformation for clients in areas like cloud, cyber security, data analytics. Digital revenues, according to Parekh, have seen a 80 per cent growth during the pandemic, strengthened the deal pipeline and the demand is being felt across the sectors.
This tech-enabled business transformation will be beneficial to the IT sector in the near term, according to Vijayakumar, but the tech firms will have to evolve with the changing demands from the client side and align with the business outcomes of their partner firms.
As automation takes over, the CEOs say there should not be any fear of fewer jobs and the focus should be squarely on upskilling and reskilling. Wipro CEO Thierry Delaporte also stated that we can create more job creation in an era of Machine learning and Artificial intelligence. The IT industry, according to a recently released Nasscom report, has hired 1.38 lakh people during the pandemic year with a clear focus of hiring more freshers.
