2021 To Be Good Year For Indian IT, Most Companies To Post High Single-Digit Growth: Balakrishnan

CIOReviewIndia Team | Monday, 18 January 2021, 03:48 IST

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For India’s information Technology sector, 2021 is poised to be a good year, where most of the companies in the information technology space are predicted to clock high single digit growth. It is according to the IT industry veteran V Balakrishnan.

According to V Balakrishnan, the former Chief Financial Officer of IT major, Infosys, Indian IT companies have handled the pandemic well with respect to the transitioning of the work-from-home and capturing of new business opportunities in the wake of the pandemic.

All of the major global companies wanted to move to cloud and cut-costs as recorded by the partner and chairman of Exfinity Venture official.

Balakrishnan to PTI said, “That's why big deals are coming and Indian companies are getting a fair share of that. 2021 looks good because they won a lot of big deals. Most of them will have high single digit growth. That's good for the industry.”

He added that there will be challenges and business prospects of the Indian IT companies in the next one decade, and every there-four years, there will be big disruption in the economic or technology forefront.

Balakrishnan told, “New technologies will emerge or there will be some economic concern in some big economies.”

Balakrishnan also said that Indian IT companies need to be relevant all the time.

Balakrishnan explained, “Businesses require to keep investing in new technologies, keep working closely with startup ecosystem where lot of innovation is happening and also invest internally in people....front-ending terms of high-end consultants who understand the industry and also sales and marketing.”

Balakrishnan said that these would be relevant at all times when there will be continuation for doing it and in any ups or downs in the business growth.

He stated, “If businesses continue their present work with the new technologies like in cloud or digital, at the transformation happening time, they are aligned to the business growth.”

Almost all the Indian technology startups have tackled the pandemic-caused disruption well, and even the funding availability is good for the startups he said.

Balakrishnan concluded saying, “Startups have to focus on the global market, in addition to the Indian market. That is where the value for money arrives.”

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