Wipro has posted its results and while doing so said the “business environment is returning to normal”
Good news then?
The positive finaNcials follow similarly upbeat announcements from Wipro’s fellow Indian IT giants TCS, Infosys and HCL.
Wipro even added its highest number of new recruits in a quarter for two years, a total of 5325.
I wrote an article in in June last year all about how the Indian suppliers were navigating the recession. It is not easy coming to terms with single digit growth for companies used to double digits in their short ten year lifetimes as major global players.
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They appear quite robust and flexible enough to react to economic changes.
While western IT outsourcing service providers such as IBM and HP are slashing jobs to meet tough cost-cutting initiatives they are investing in employees. It is only a matter of time before Indian suppliers which grew because they offered customers low-cost services will overtake western competitors through competitive advantages such as flexibility, ambition and employee commitment.
Manish Dugar, CFO at Wipro Technologies, told me that the IT business is seeing positive signs across the infrastructure management, BPO and application implementation and testing service lines.
“The sectors that are increasing demand are also broad with retail, healthcare, financial services and government all looking good.”