Tata Consultancy Services (TCS) Ltd, India’s largest IT services firms, will benefit from customers embarking on a multi-year technology upgradation cycle, said Rajesh Gopinathan, Managing Director and Chief Executive, TCS.
On Thursday, Tata Sons hosted its 26th Annual General Meeting (AGM) digitally, presided over by Tata Sons Chairman N Chandrasekaran, with other directors from the world joining live.
In the meeting, Gopinathan stated that this year saw TCS clients utilising technology throughout the entire value chain to create operational resilience, shift significantly to digital channels, and accelerate the shift to the cloud.
”TCS participated significantly across this opportunity landscape recording 17.1% growth in our total contracts won in the year, more than $31.6 billion dollars in new contracts signed in the year FY21,” he added.
According to him, TCS would have long-term visibility in the demand environment as a result of technological transformation across numerous industries.
TCS, according to Gopinathan, has been investing in skill development at scale. With over 43 million logged learning hours, they have groomed over 16,000 contextual masters and trained more than 379,000 people on emerging digital skills.
TCS invested 1.2 per cent of its total revenue or Rs. 1,917 crore, on R&D and innovation during FY21. Apart from expanding its core computing and related research capabilities, new areas of research include DNA computing, artificial intelligence for protein design, cognitive robots, metamaterials, quantum computing, and sensing.
TCS’s research and innovation teams have also been hard at work on key initiatives such as patents, products and platforms (3P), technology change management, 5G, cloud, and cybersecurity.