The demand for IT services continues to remain strong despite the ongoing geo-political tensions, elevated inflation in the US and rising global interest rates, said CP Gurnani, MD & CEO, Tech Mahindra.
“The IT industry, in general, is like a snake-and-ladder game. If you find a ladder (that enables you to go up), you will also find a snake (that brings you down), whether the snake is in the form of inflation, supply chain issues or a war, we don’t know. However, at this stage the demand remains very strong,” he added.
He was responding to a question on the aggressive monetary tightening from the US Fed Reserve and its impact on IT spending. Gurnani was addressing the media on the sidelines of 16th and 17th convocation of Great Lakes Institute of Management (GLIM), Chennai, on Wednesday.
“From Tech Mahindra’s perspective, we need to take care of three fast-moving parts of the economy, the digital economy, geopolitical challenges and the growing need for innovation,” Gurnani added.
On the issue of high attrition in the IT industry, Gurnani, who was also a former Chairman of Nasscom, said: “The market grew much faster and we were not ready. That’s the reason why attrition has gone up because everyone is growing at the same time and there is huge demand for IT professionals.” He, however, added that the talent churn in the IT industry also provides a positive opportunity.
Earlier, delivering the graduation address, Gurnani advised the graduating students to apply 4Ps — Purpose, Passion, People and Performance — in their professional life.
In his keynote address, Shyam Srinivasan, MD & CEO of Federal Bank, said: “One characteristic that defines a leader is to have grit, nothing substitutes grit and the ability to withstand any stress. Post-pandemic, we have understood that nothing is a straight line and no one knows how your career is going to shape up.”
Speaking about the past two academic years, Suresh Ramanathan, Dean of Great Lakes Institute of Management, said: “We have placed 100 per cent of our students, and our faculty has tripled their overall research productivity from 2020-2021 to 2021-2022; this is part of our long-term agenda, which we wish to highlight.”
A total of 1,145 students from 2020 and 2021 batches across two full-time and two executive programs including PGPM, PGDM, PGXPM, and PGPM (FLEX) got their certificates this year.
Published on
April 27, 2022
