The new CEO of Wipro's IT business says the current market is buoyant and the IT industry sees an uptick in demand
Wipro Technologies seems to be focusing on the top-line and get comfortably high enough to maintain its position in the market.
While talking to CIOL on the sidelines of the ongoing Nasscom India Leadership Forum 2011 here, T.K. Kurien, the newly-appointed chief executive officer of IT Business and executive director, Wipro Limited, said, “The real rationale behind the entire rejig is to grow the top-line. Apart from that we do not see any other change coming up. We are looking for growth right across and hyper growth in a few sectors."
According to him typical hyper-growth markets are BFSI, retail, energy and utility, and these changes are for a longer term.
Talking about the demand scenario, he said that while the demand was lower last year, the current market is buoyant and the industry sees an uptick in demand.
Ranked third among the IT majors, Wipro is getting a stiff competition from Cognizant, which has grown at 45 per cent year-on-year and 8 per cent sequentially, and is said to take over Wipro in next 2-3 quarters.
In a bid to apparently resist this, Wipro had on Monday reorganised its key IT outsourcing business.
Wipro had announced the name of Kurian as CEO along with the announcement that joint chief executives Girish Paranjpe and Suresh Vaswani were stepping down.
Source: CIOL.com
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