The Hindu Business Line : ‘IT cos should look for specific opportunities, be innovative’

Indian IT companies, instead of being US-centric, should seek to spread geographically to Europe and others parts and also diversify their activities to survive in the present global recessionary trends, according to Mr Lakshmi Narayanan, Vice-Chairman of Cognizant and Chairman of Nasscom.

“In the past, recession in US has indeed benefited Indian IT companies. They need to look for specific opportunities and be innovative in their approach,” he said, speaking to Business Line here on Saturday.

He said that no collapse is anticipated and what is happening is a slow down in investment in technology. From a broad industry perspective, it could be said that there is no change and large companies continue to recruit except that they have become cautious. In the current scenario, large Indian IT companies could seek to spread on their own and small and medium enterprises could partner with others in Europe and other parts of the world. They also need to offer solutions like retail and others in addition to finance. This would help many people get employed in India, he added.

Asked specifically about moving to tier II cities, he said that no change is visualised this year and moving to cities like Madurai and Tirunelveli was under evaluation.

Mr Lakshmi Narayanan was in the city to deliver the 22nd convocation address and inaugurate the national-level meet ‘Yukti ‘08’at the Thiagarajar School of Management here.

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‘IT cos should look for specific opportunities, be innovative’