For its main export markets, economic prospects are a little better now, some optimism injected into the Indian IT sector, said by Wipro chairman Azim Premji.
In comparison to 2016, in 2017 we face 2017 with an increased amount of optimism. Over the last fiscal, impacting the IT industry, global political uncertainties weighed heavy on the business sentiment. As the economic prospects for our main countries of exports are a little better, so looking ahead, we continue to see a volatile economic environment. As tech is becoming a major differentiator, clients are looking to spend on tech, said by Premji in Bengaluru on Wednesday at the company’s annual general meeting.
at its meeting on Thursday, to buy back shares the board would consider a proposal said by Premji. 60% of their business, the majority of the large Indian IT firms gets from the US market and owing to the growing protectionism in the country the sector is facing challenges. The older business models made redundant the concerns around Brexit and the widespread impact of new digital technologies.
But Indian IT services companies would be able to adapt to the new technologies, said by Premji appea. Driving this change, Digital is the central element.
He also added, to deliver digital to enterprises We believe that IT services companies are the key element.
The success behind Wipro would depend on its ability to redefine and align itself with the new global paradigm and the disruptive developments in the industry and Premji has a strong belief on this.
Our new brand identity has been introduced in May. In transforming our business we have made significant investments both in organic and inorganic offerings to service the new requirements of customers, he also said.