TheNFAPost Podcast

Bengaluru, NFAPost: Infosys cofounder and Chairman of Axilor Ventures Kris Gopalakrishnan said Covid-19 pandemic has brought a new era of opportunity for Indian IT and tech services companies.

Talking to NFAPost, Kris Gopalakrishnan said the demand for tech services demand will grow for IT services due to the accelerated transition during the pandemic.

“The India model (Global Delivery Model) withstood the transition to Work From Home better than we thought and no business suffered disruptions during this transition. We are able to retrain the professionals to the new skills required. All of these point to higher demand and sustained supply. The industry will recruit more people to meet the demand,” said Kris Gopalakrishnan.

He highlighted that there will be robust growth in the next 2-3 years due to accelerated transition to more digital – cloud, mobile, IoT, AI/ML etc.

“IT Services is a segment of the industry that is doing well and India has clear leadership due to single-minded focus of industry leaders to innovate and sustain leadership. We need to invest more into India product, SaaS and tools businesses so that achieve global scale and impact,” he said.

Gopalakrishnan made this statement in the context of Nasscom research finding which states that with overall growth of 2.3% in 2020, India’s tech industry has emerged from the crisis more relevant & resilient than ever.

According to Nasscom, the year 2021 is going to a period of building future-readiness for the $190 billion strong Indian technology sector as the country underwent dramatic changes with the last years disruptive business impact created by Covid-19 pandemic.

Kris Gopalakrishnan also stated that for these segments, India needs to invest more in research and development (R&D) to create own intellectual properties (IP) and technologies. “Academic and research institutions must become ambitious in their research programs and industry must invest in these,” he said.

In a report released by Nasscom ‘Technology Sector In India 2021- New World: The Future Is Virtual/Strategic Review’ as part of 29th Technogy and Leadership Forum summit, India’s apex technology organisation states that there is a need for shaping the future towards a better normal.

The report highlights the fact that there is a need for re-imaging technology to make crisis into an opportunity, need for hyper digitisation and enhanced use of technology to make an impact. Also, the primary areas of focus like customer-centric operation, building expertise in remote operational model, accelerated digital capacity building and expanding access in emerging and growth sectors.

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