Enterprises in India embracing hyper-scale cloud networks will have a long term impact on future innovations and technology, according to Rajesh Gopinathan, CEO of Indian IT services giant Tata Consultancy Services.

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“Once an enterprise enters this ecosystem (hyperscale cloud networks), it is virtually certain that all of its future innovation and technology programs will stay within that ecosystem. So we see this technology shift as the start of a multi-year technology upgradation cycle in which the abundance of native capabilities will constantly expand the art of the possible, opening up newer opportunities for technology-driven differentiation”, said Gopinathan in a letter to shareholders.

Gopinathan also celebrated the resilience and adaptability of TCS saying that the company “responded with speed and agility, embracing a new operating model, Secure Borderless Workspaces (SBWS)” when the pandemic struck globally which resulted in “the worldwide lockdown disrupted economic activity across virtually all sectors.”

Gopinathan highlighted the fact that even with the pandemic affecting economic activity, TCS managed to secure important successes with important deals and contracts.

“The order book signed every quarter was higher than that in the prior year. We closed the year with an all-time high quarterly TCV of $9.2 billion. The full-year order book was $31.6 billion, our highest ever, representing a growth of 17.1 percent over the prior year.”

He added, “...our Life Sciences and Healthcare business grew 17.1 percent. The other two verticals were Banking, Financial Services, and Insurance which grew 2.4 percent.” The IT services major also saw 0.2 percent growth in Technology and Services vertical, Gopinathan added.

Gopinathan also highlighted the importance of the Growth and Transformation (G&T) engagements that the company was undertaking in penetrating markets where it traditionally had very little influence.

He ended the letter by saying, “Our focus and investments will now be on growing further and gaining more market share in this space. Towards this, we are investing in deepening our transformation capabilities. While we stay open to inorganic acquisitions, our focus and commitment to organic talent development remain unwavering.”