With the market being dominated about talks of job cuts and a meltdown of the IT industry, here are some good news for the sector. The Government is taking every step to ensure that the IT sector reaches new heights and ensures job creation in the years to come. It has delved across different sectors and started a digital journey across the States that may result in a huge growth of the market. The Indian Government is taking various steps which include the whole digital journey across different sectors and across individual states. It also includes the steps taken by the government across different States and around the new BPM policy. India will soon emerge as one of the largest markets for hardware and IT services. In the coming years, India will become one of the biggest and most attractive markets in the World. Over a period of time, India will deliver the kind of impact that is expected from a large market, it will become one of the biggest markets for IT services and hardware services in the long term.
WNS is a business process outsourcing company which is responsible for the execution of business strategy and direction of the overall performance plus the growth of 3000 people in an organization spread across 13 countries. WNS has a market cap of USD 1.6 billion. It receives 42% of its revenues from North America, 37% from Europe and 21% from the rest of the World. Keshav Murugesh, the global CEO of WNS mention that China is also going to be a very important market but it is being penetrated really well currently. India is taking early steps which depend on the scale, scope and the potential of the Country. India could be a huge market but that does not mean China cannot have a larger market. He refuted reports that the IT sector is resulting in job losses across India. Instead, he mentions that job creation in India is much higher than the job losses.
During 2017, India generated 170,000 additional jobs in the sector when all the negative rhetoric was being seen. He mentions that all the messaging has helped a lot because the way the industry and government is working together to allay the fears of employees, they are getting a lot of support of the clients and exploring the huge potential of the sector. In addition, there is also a huge investment taking place across different areas driven by the IT and the Prime Minister. WNS is experiencing a strong momentum and strong growth in the North America across the US.