Indian IT industry soon to be on the crest of a wave

Updated on: Thursday, October 29, 2009

Thanjavur: S. Ramadorai, Vice-Chairman of Tata Consultancy Services (TCS) was relieved upon the signs of melting recession and recently announced that, 'The Indian Information Technology industry has enormously resurged from the economic crunch. The global indications however, positively highlight the IT growth.'

The VC expressed himself while delivering the 'Knowledge Leadership Forum Lecture' at Shanmugha Arts, Science, Technology and Research Academy (SASTRA) University and shared his reactions about the IT industry's crests and troughs after the sub-prime crisis to relate how TCS confronted the troubled times and took it as an opportunity to grow.

TCS's premeditated involvement in customer focus and retention, absorption of relevant technology, organizational operations, etc supported by the leadership team and its employees, in spite of the global economic slump were some of the initiatives taken by the consultancy.

Stressing on the need for trans-industry modernization, Mr. Ramadorai also expressed the need to extend beyond conventional precincts for COIN - CO-Innovation Network.

'Indigenous innovation of TCS like affordable healthcare, Tata's Nano car, Chandrayaan project, which was the cheapest moon mission for the 21st century at a cost of Rs.356 crore, fastest supercomputer in Asia needs to be controlled during economic disasters,' Mr. Ramadorai added.

He advised the students to be creative thinkers and not to just fantasize about the innovations. In order to remain competitive, Mr. Ramadorai, foreseeing the signs of recovery, suggested the students to build technological expertise along with domain knowledge.

Prof. S. Vaidhyasubramaniam, Dean of SASTRA University, plunged back to trace the global economic downturn and its impact. He also recollected how companies like TCS innovated new strategies to overcome the adversity and ended up with successfully implemented actions.

Sharing some snippets with the audience about how five Nobel Laureates in Economics could not arrive at a unanimous conclusion for the huge economic disaster he expressed himself.

Mr. Ramadorai distributed merit scholarships worth Rs.60 lakh to more than 700 students of SASTRA University and congratulated the University for recognizing merit not only in its admission but also during the academic pursuit of the students.

Indian IT industry soon to be on the crest of a wave

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