As stated by the chief executive officer of the most reputed company Tata Consultancy Services, Rajesh Gopinathan, technology will be the primary source of investments globally for some years in the near future. He expects volatility due to geopolitical conflicts and possible decoupling of the global economy to stoke demand for specific technologies.
He added that cyber security, building strong and amenable supply chains, several forms of data protection, and tyranny-related affairs will emerge as huge sources of technology spending worldwide.
Later, he explained that the largest software services company in India, TCS is focusing on profit-driven growth, as it appears to double its revenue to $50 billion by the end of the decade.
TCS grew 15.9% in the financial year 2022, on the back of record deal wins amounting to $34.6 billion for the complete year with nearly a third coming in during the final quarter. When compared to Infosys, it grew 19.7% but clocked a lower operating margin of 23%.
Gopinathan said, ” The US is our major market. The US, UK, and Western Europe together account for 80-85% of our business. There is no TCS company in Belarus, Russia, and Ukraine, and has minimal operations in Asian components.
The company has witnessed expansion in revenue by 30% from fiscal 2018-2022 and last September, it crossed the $200 billion mark in market capitalization, making it 2nd only to Accenture by this metric among IT services entities worldwide.