In an interview with MoneyControl on Wednesday, N Ganapathy Subramaniam, COO of Tata Consultancy Services (TCS) said that the overall momentum for Indian businesses to rebound is positive with new investments coming in.
“We are seeing some progress but given that the people are a bit cautious about the third wave coming in, I can’t claim that it is fully recovered from India business perspective.”
“In terms of the overall business, the momentum is positive. I think the US, Europe, and the UK, new business and the investments that they are planning, all of that is looking alright,” he said.
When asked about the digitization of work in the country due to the pandemic, he said that companies, especially the automobile industry are now investing more in electric vehicles. “Most of the auto manufacturers have also had a sustainability agenda and moving into electric vehicles is an important shift in that direction for the right.”
Manufacturing industries are also investing more to digitize work. “Every manufacturing company is investing in digitization to rework the supply chains, and build the new vendors, ecosystems, and all the corresponding changes that are required in terms of technology and operations,” he said.
Subramanium emphasized the potential growth of the electric vehicle market saying that in due course of time, customers and companies will switch to a subscription-based model. “People are used to buying cars. Now I think it is – uses the car and leave it whenever you want to go – a subscription-based model that’s coming.”
He further said that companies need to focus more on building the right infrastructure and finding the right distributors as they switch to the new model.
When asked about whether pricing will be impacted due to the pandemic he said, “Am I going to see a pricing increase? Potentially, yes. But it is a function of the type of customers, projects and several other factors.”
The IT arm of Tata Group, TCS market capitalization reached Rs. 13 trillion last week. The firm is currently trading at Rs. 3,662.70 on BSE.