Indian IT industry caught
in unpredictable times: Ramadorai
By Fakir Balaji
Dec 14 (IANS) The global meltdown has plunged the Indian IT
industry into unpredictable times and a period of uncertainty
looms large, according to a top executive at software major
Tata Consultancy Services (TCS).
is impossible to predict what is really happening. We are
living in times where everything is unpredictable. Such an
event (global meltdown) has not happened in anyone's living
memory. So it is such unpredictable times we are living in,”
TCS chief executive S. Ramadorai told IANS on the sidelines
of a science conference here Sunday.
to predict how long the crisis would last, Ramadorai said
the whole world was living in "uncertain times",
and that he would not like to make any guess.
nobody knows anything. Overall, things are in a pretty bad
shape right now. Everybody is guessing. So we have to watch
and play it by the game,” Ramadorai observed at the centenary
celebrations of the premier Indian Institute of Science (IISc).
depends on how the economy will grow. The US is in recession.
Europe and Britain are in a similar situation. China has slowed
down in growth and its exports are suffering.
growth has also reduced, as evident from the industry figures
for October. So, I think it is impossible to predict what
is really happening, because we are living in an environment
where everything has become unpredictable,” he said.
also declined to predict how the Indian IT industry would
grow this fiscal.“Let me put it this way - any number anybody
gives will be only a guess. And my guess is as good as yours.”
the wake of bleak market conditions globally, Ramadorai said
export-oriented IT firms were discovering India as a potential
he said, the Indian IT industry is also seeing lot of positives:
retention levels have increased, compensation packages have
stabilisied, and employees are looking at upgrading their
engineers can attend to lot more training and look long-term
to create intellectual capabilities. As customers will look
at optimising cost, we as an industry can relate to it effectively
and creatively. As organisations, we may reinvent business
conditions were favourable for consolidation through mergers
and acquisitions despite the downturn, the TCS chief executive
said it was too early to say whether it would happen as companies
were wanting to retain cash and unwilling to spend much at
this point of time.
we will look for any opportunity for acquisition, we are not
shopping around for any thing now. The focus is on internal
or organic growth,” Ramadorai added.