2021 to be good year for Indian IT, most companies to post high single-digit growth: Balakrishnan

PTI | Bengaluru | Updated: 17-01-2021 15:02 IST | Created: 17-01-2021 14:15 IST
2021 to be good year for Indian IT, most companies to post high single-digit growth: Balakrishnan
Representative Image Image Credit: Pixabay

The year 2021 will be good forIndia's information technology sector and most of thecompanies in the space are expected to clock high single digitgrowth, according to IT industry veteran V Balakrishnan.

The former Chief Financial Officer of IT major Infosyssaid Indian IT companies have handled the COVID-19 very wellin terms of transitioning to work-from-home and capturing newbusiness opportunities in the wake of the pandemic.

All major global companies wanted to move to Cloud and cutcosts, the Partner and Chairman of Exfinity Venture Partnerssaid.

''That's why big deals are coming and Indian companies aregetting a fair share of that'', Balakrishnan told PTI.

''2021 looks good because they won a lot of big deals.

Most of them will have high single digit growth. That's goodfor the industry''.

On challenges and business prospects of Indian ITcompanies in the next one decade, he said every three-fouryears, one will see big disruption happening either onthe economic or the technology front.

''New technologies will emerge or there will be someeconomic concern in some big economies'', Balakrishnan said,adding Indian IT companies need to be relevant all the time.

''They have to keep investing in new technologies, keepworking closely with startup ecosystem where lot of innovationis happening and also invest internally in people....front-endin terms of high-end consultants who understand the industryand also sales and marketing'', he said.

Balakrishnan said they would be relevant at all times ifthey continued to do it because there will be ups and downs ingrowth.

''If they continue to do what they are doing today...theyare in the new technologies...they understand the Cloud...

digital, so when the transformation happens, they are rightthere'', he said.

Most of the Indian technology startups have handled thedisruptions caused by the pandemic well, he said, adding, eventhe funding availability for startups has improved.

''They (startups) have to focus on the global market, notonly Indian market. That's where the value for money comes'',Balakrishnan added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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