Enormous opportunities at IT

Tiruchi:With India’s share in IT projected at 60 billion US dollars in the next three years constituting only a ‘tip of the iceberg’ of the one trillion US dollar industry worldwide, the sector’s growth will be driven by enormous opportunities, said N. Chandrasekaran, executive vice-president and head, Global Sales and Operations, Tata Consultancy Services.Delivering a special lecture on ‘Emerging Trends in IT Industry’, Mr. Chandrasekaran said that the annual budget was rising by five to seven per cent in the industry that witnesses a rapid pace of technology evolution.

The high possibilities for innovation in high impact technologies such as Main Frame, Client/Service, and Service Oriented Architecture necessitates expenditure on research, he said, observing that disruption caused to the industry by technology obsolescence of technology was also on the rise.Since 70 per cent of the annual budget was being spent on existing systems, there was tremendous scope for bringing in efficiency in delivery of applications for better success rate.The profile of IT professionals have now transformed to leading businesses from the state of processing data and supporting businesses, he said, stating that the industry has spurred the growth in infrastructure, telephony, retail and financial services sectors. The TCS has developed the capability for creating overseas centres and recruiting people anywhere for delivery of the same service to customers.

Integrating people to new capabilities was the new paradigm in a globalised scenario wherein the principles of arbitrage, aggregation and adaptation were much talked of, he said, informing that the company currently has 9,500 such employees in its centres located overseas including Chile, Morocco and China.Presiding over, the Director of NIT-T M. Chidambaram said the institute was in the process of having research laboratories in all departments to raise its status to IIT standard.Good fellowships would prompt bright engineers to take up research, he said.Ravi Viswanathan, Vice-President, TCS; Thomas Simon, Vice President, Human Resources; and A.K. Bakthavatsalam, Professor and Head, Training and Placement, NIT-T, spoke.