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India's IT services heavyweights delivered between 14-20 per cent on-year growth in topline for December quarter, as they raised guard on global uncertainties and choppy verticals, but remained hopeful that costs as well as business considerations will drive tech demand. The tech earnings season began with large IT companies -- Tata Consultancy Services (TCS), Infosys, Wipro and HCL Technologies -- declaring their Q3 report card this week, amid analysts' gloomy prognosis around slowdown in advanced economies and fear of geopolitical flare-ups. The industry leaders said they are keeping a close watch on the global economy and cues. Overall, the revenue growth band of the top-tier IT players was pegged at between 14-20 per cent for Q3FY23, compared to the year ago period. Seen sequentially, the topline growth for the large IT pack ranged between three per cent and eight per cent versus previous September quarter. Meanwhile, December-quarter net profit of the top IT deck rose between
Suggesting that the age of celebration of technology for technology's sake is over, Microsoft Chairman and CEO Satya Nadella on Thursday said it is now about technology and its use for everyone in the world, where India can contribute immensely. Speaking at the 'Microsoft Future Ready Technology Summit' here, he also highlighted the "magic" of government programmes and India Stack co-evolving in the country. "I had a chance to have a brief conversation with the Prime Minister yesterday, his vision and all the programmes, the yojanas and the India Stack. In fact the thing I'm realising is the magic of India Stack, because everything needs feedback. The yojanas or the policy and the technology stack co-evolving, that's just like a virtuous cycle that is unlike anything I have seen and it's just tremendous," Nadella said. He said, "I absolutely think both of these are perhaps the greatest contributions that India can make to the world quite frankly. When I think about it, the idea that
Geopolitics will define business decisions in the IT industry going ahead, and companies will have to turn their focus on real-time data to stay ahead of the competition, said Amitabh Ray, the managing director of Ericsson Global Services India. Ray said geopolitics can no more be overlooked by IT companies in the aftermath of the Russia-Ukraine crisis and the COVID-19 pandemic. "In the IT industry, we were very happy to keep ourselves away from politics, but now it will become an integral part of information technology, because decisions about places where we can do business and with whom will be driven by geopolitics. We have to adjust to this," he told PTI on the sidelines of a session at INFOCOM 2022, an IT event organised by the ABP Group. The senior company official said business leadership needs to be redefined in today's times, and a key aspect of that is to take into account factors like "nowcasting". "Business decisions will have to be taken on the basis of 'nowcasting',