With the economy of the U.S. doing great, Indian IT firms can look forward to an improved year in 2018 owing to the rising demand from clients and tech investment, as per senior industry sources. Noting that the biggest market for IT firms in India is the U.S., V Balakrishnan, previous CFO of Infosys, claimed that their capability to grab development opportunities is serious. “The U.S. economy is doing very great. I believe they are still developing 2% to 2.5%, good development for that country,” he claimed to the media in an interview.
“If you see at the report, they discussed about in general IT investment increasing up by almost 4% to 4.5% in 2017. I think there is development. The capability of the firm to take on development is critical. I think development opportunities are present there,” claimed Balakrishnan. He claimed if the largest economy of the world is doing great, IT companies in India have a ray of hope. “They (the U.S.) are discussing about elevating rates of interest since unemployment rate is very low, development is good, Trump is claiming about slashing corporate tax; hence, the economy is doing great. As long as the U.S. economy performs great, there will be chances for IT companies of India,” Balakrishnan claimed.
On NASSCOM planning IT export of India to develop 7% to 8% in 2017–2018 and local market growing 10% to 11%, he claimed that it looks satisfactory for the year. “But I believe the upcoming year must be good if the U.S. economy carries on to do great,” Balakrishnan added. T V Mohandas Pai, one more ex-CFO of Infosys, claimed that he has read reports of many analysts in the U.S., that represents the fact that work is arriving to large system integrators since tasks have turned out to be complex.
“I had a word with industry users and they claim that digital work for all huge firms is developing in twice. Rest of the traditional commerce is not developing as expected. Digital is developing very fast and for the big companies, digital is 20% to 25% of commerce.