IT is going through major changes and challenges. It is extremely important to convert the hurdles into opportunities to sail through the tough times. Industry has been resilient to fight back these times by accepting and adapting to the changes. Change is evident in the technology being used, the services provided and the products being offered. We have evolved from being technology service providers to offering niche and innovative end-to-end solutions, elucidated K Gopalakrishnan, CEO & Managing Director, Infosys Technologies Limited at a conference organised by All India Management Association (AIMA), an apex body of professional management, recently.
The conference on “India: Knowledge and Professional Services Hub to the World – The Next Decade” focuses to device a road map to tap the opportunities and meet the challenges pertaining to the IT industry. It also deliberated on how the Intellectual Property (IP) of India could be leveraged to establish the healthy and sustainable environment for the growth of the industry. With a mission to create a platform to address key areas and issues affecting the workforce and the economy of the industry, this cerebral fest saw some of the key industry leaders sharing their views on the subject.
Over 250 professionals across industry are participating in this unique and first ever conference. AIMA, recognizing these imperatives brought this conference on this apt and topical theme. Earlier welcoming the delegates, K Jairaj, Past President, AIMA & Additional Chief Secretary, Government of Karnataka, while introducing the Conference Chairman, K Gopalakrishnan, CEO & Managing Director, Infosys Technologies Limited and the keynote speaker for the session, N R Narayana Murthy, Chairman and Chief Mentor, Infosys Technologies Limited, said that the media can leverage this unique advantage.
In tandem with the key focus of the seminar, Gopalakrishnan shared an overview of the industry followed by the projection for the next 12 months. He cited that on the basis of the current industry figure of US $71 bn, the projection are of 150 bn $ in the next 10 years, provided the growth rate of 10% (US $300 bn mark in case of the rate of 20%) remains consistent for the next decade. He also shared that the IT workforce size will also see a leap of 100%, i.e., from 2 million to 4 million during the same period.
“Cloud Computing has opened new avenues for the industry to evolve and experiment. Being a low cost, highly efficient and extremely flexible application, it has provided the relatively smaller companies to move to the scale and robustness of larger companies. As the industry is dealing with supply constraints, the shift towards the paradigm of ‘Cloud’ is apparent and vital,” he added while talking about the industry growth prospects. Later Asha Rai, Senior Editor, The Times of India in dialogue with N R Narayana Murthy, Chairman and Chief Mentor, Infosys Technologies Limited brought several aspects of this huge opportunity to media.
N R Narayana Murthy agreed that, “India has become the most preferred destination for the global IT giants to set up their outsourcing businesses. This is because of the excellent intellectual capital, cost advantage, well trained pool of human resource and the unsurpassed capacity to provide services on a large scale. At the same time, it is also necessary to learn from the past experience and take IT infrastructure to the other parts of India part from the metros, thus targeting a holistic approach toward growth.
Among the spectators who share their perspectives, the conference draws to a close with a Valedictory Session including a keynote address from N Chandrasekaran, CEO & MD, Tata Consultancy Services Ltd. He shared, “IT is an industry with an openness to welcome and adopt techniques for efficiency and growth and ensuring a dramatic increase in the same. The scope and scale of the industry is continuously expanding. India is a preferred destination for IT to flourish with extremely favorable conditions, namely, reputed companies with process-centric model to recruit and scale people in knowledge industry. Favorable demography coupled with professionals serving the customers is an ideal state for the world.”