Funding environment for digital push remains strong, says TCS chief executive

BANGALORE (Reuters) – The chief executive of India’s largest information technology services provider Tata Consultancy Services (TCS.NS) said that despite a difficult macroeconomic environment, the digital push said its funding commitments to .

After reporting last week’s quarterly results, Indian IT service providers showed that companies that were spending big bucks during the pandemic are being cautious in regions such as Europe and the US.

Rajesh Gopinathan, chief executive of TCS, told Reuters that the pandemic has unlocked many funding commitments in terms of digital transformation.

“Over the next 12-18 months, the level of excitement[about digital transformation]has diminished, but the funding commitments have not gone away.

Gopinathan has served as CEO of the IT giant for five years this year and was reappointed for another five years until 2027.

Mumbai-based TCS reported better-than-expected quarterly results last week but warned that long-term trading decisions remain soft due to macroeconomic challenges.read more

However, the company added that it expects demand momentum to continue across all markets.

The July-September order book remained stable, reaching $8.1 billion, according to TCS.

“We are equally interested in big deals and small deals. But as the environment becomes more uncertain, deals are usually smaller,” said Gopinathan. says.

Reported by Nallur Sethuraman, Bangalore and Munsif Vengattil, New Delhi. Editing by Shounak Dasgupta

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