Infosys chairman R Seshasayee may be cautiously optimistic about investments picking up in India but appears more confident when it comes to the future of the $9-bil ion IT behemoth, which seems to have found its mojo back over the last two quarters. Despite the bottlenecks and slow demand for credit in he economy, he feels enthused about the fact that investments have finally started figuring back on the board agenda at India Inc.
"There is a 30 per cent overcapacity still in manufacturing globally. As it comes down, nvestments will come back," Seshasayee, also chairman of IndusInd BankBSE -0.27 % and a former CII president, told TOI n an interview. He, however, held out a word of caution."The cow has to go out of politics and enter economics since right wing voices are a distraction."
Though the VUCA world, a erm that CEOs use to describe rising global uncertainties, is eading to reduced labour arbitrage globally , Seshasayee feels it would still be relevant for ndian IT from an availability and cost point of view. The world, he said, was moving beyond digital to artificial intelligence and internet of things, among others, which needs to be understood and applied for Infosys customers.
Since companies like GE, which have drafted a large software play , would need partners, Infosys would be well positioned to provide new solutions in the new digital world, he said. Similarly , he also sees substantial deals coming from emerging businesses like web aggregators and e-commerce. It may be pointed out that Infosys, under its new CEO Vishal Sikka, has drawn plans to invest $500 million into startups, which he said was on course
The last two quarters, ever since Sikka joined the organi zation, also witnessed better financial results, which prompted the question if it has anything to do with a change in leadership. The Infosys chairman sidestepped it, saying the similarities and differences in the way the promoters in the past and Sikka now have approached the business boils down to being contemporaneously adapting to respond to market conditions.He also scotched talks that a section of senior employees who predated the entry of Sikka were uncomfortable in the new dispensation. These talks had emerged when Infosys CFO Rajiv Bansal recently put in his papers. He also emphasized that the leadership bench was strong.
Seshasayee said the company's 2020 targets of touching revenues of $20 billion were intact and it would be aggressively chasing acquisitions to bring on board companies which have appropriate technology to offer as part of it."We would earn back the bellwether status by then," he said. As for the business potential next year, Seshasayee said since a lot of companies are sceptical of the future, the average size of business deals will get smaller.
"There is a 30 per cent overcapacity still in manufacturing globally. As it comes down, nvestments will come back," Seshasayee, also chairman of IndusInd BankBSE -0.27 % and a former CII president, told TOI n an interview. He, however, held out a word of caution."The cow has to go out of politics and enter economics since right wing voices are a distraction."
Though the VUCA world, a erm that CEOs use to describe rising global uncertainties, is eading to reduced labour arbitrage globally , Seshasayee feels it would still be relevant for ndian IT from an availability and cost point of view. The world, he said, was moving beyond digital to artificial intelligence and internet of things, among others, which needs to be understood and applied for Infosys customers.
Since companies like GE, which have drafted a large software play , would need partners, Infosys would be well positioned to provide new solutions in the new digital world, he said. Similarly , he also sees substantial deals coming from emerging businesses like web aggregators and e-commerce. It may be pointed out that Infosys, under its new CEO Vishal Sikka, has drawn plans to invest $500 million into startups, which he said was on course
The last two quarters, ever since Sikka joined the organi zation, also witnessed better financial results, which prompted the question if it has anything to do with a change in leadership. The Infosys chairman sidestepped it, saying the similarities and differences in the way the promoters in the past and Sikka now have approached the business boils down to being contemporaneously adapting to respond to market conditions.He also scotched talks that a section of senior employees who predated the entry of Sikka were uncomfortable in the new dispensation. These talks had emerged when Infosys CFO Rajiv Bansal recently put in his papers. He also emphasized that the leadership bench was strong.
Seshasayee said the company's 2020 targets of touching revenues of $20 billion were intact and it would be aggressively chasing acquisitions to bring on board companies which have appropriate technology to offer as part of it."We would earn back the bellwether status by then," he said. As for the business potential next year, Seshasayee said since a lot of companies are sceptical of the future, the average size of business deals will get smaller.
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