Infosys Chairman on the firm's renewed stability under its new leadership

09 November 2018 2 min. read
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Having navigated a period of relative turbulence in its operations, Indian IT services giant Infosys has achieved a great degree of stability through a combination of new personnel and new strategy. Chairman of the firm Nandan Nilekani has expressed his satisfaction at the newly found stability.

In addition to a great degree of internal instability, Infosys has undergone a similar problem to other IT services firms in India over the last few years, i.e. the rapidly expanding expectations from these firms to deliver more than the traditional IT architecture and maintenance services.

The Industry 4.0 paradigm has come rushing in, and firms have instinctively placed the burden on IT consulting firms to support with new technology such as artificial intelligence, Internet of Things and blockchain technology. Indian IT services giants such as TCS, Infosys and Wipro have been forced to respond.

Infosys underwent a change of leadership from the start of this year, and the new agenda under CEO Salil Parekh has been clear in its objectives – a greater orientation towards digital services. The firm revealed a three-year strategy earlier this year, stating that it would incrementally gravitate towards digital services.

Infosys Chairman on the firm's renewed stability under its new leadership

According to Chairman Nandan Nilekani, the benefits of this reorientation have begun to manifest themselves. “I’ve been Chairman now for over a year. We have an excellent CEO in Salil Parekh. Infosys is really on a very stable and forward-looking path,” said Nilekani, speaking informally at the New Economy Forum in Singapore organised by Bloomberg.

Nilekani, who recently pledged half of his wealth ($1.7 billion) to charity, argued that the contemporary domestic and global environment make such a transition a necessity. Now that it has completed this transition, Nilekani sees a world of opportunity lying ahead of Infosys in the near future.

The future of India’s IT services is bright because all of the world, the businesses and even governments are going through a huge digital transformation. Be it automobile, retail, (or) financial services, in every industry there is a massive reinvention going on,” said Nilekani.

Specific to the Indian market, Nilekani argues that the wealth of data now available due to the Aadhar initiative presents its own set of opportunities. “Historically, data has benefited companies and governments. India’s unique infrastructure, thanks to Aadhar regulations, has the ability for every individual to access own data and put it to good use. We call it data empowerment, which means a person can use his data to get a loan, better health care or education.”