TCS sees brighter 2014

New Delhi: IT major TCS on Monday expressed hope that 2014-15 will be better than the ongoing fiscal with uptick in client spending in the US and Europe.

“Initial indications are that 2014-15 is going to be better year than the current year. I have travelled quiet a bit and met with many of our customers.

Also our team has spoken to customers so initial indications is that it is going to be better year and there is going to be uptick in spending especially in areas like digital,” TCS CEO and managing director N. Chandrasekaran.

He said that TCS will be hiring 25,000 people from campuses. It will also be hiring across geograph-ies including the United States and Europe to keep up with demand for services.

“We said that 2013-14  will be better year than 2012-13, we still stick to that and it is a year in which normal business performance has been good but also we have seen good momentum in areas like digital,” the head of India’s largest IT company explained.

The volume growth has been good for the first two quarters so we have increased our hiring. We said in the beginning of the year that we will hire 45,000 people. We ended up hiring 50,000 people,” said Chandrasekaran.

He said that the company expects a good growth overall in retail, consumer goods and services, utilities, pharma and financial services.

Chandrasekaran said that momentum is picking for social, mobile, analytics and cloud (SMAC) technologies, which offer a “multi-billion dollar opportunity” in revenues for the company in the next three to five years.

“We established a digital collaboration centre in the Silicon valley two years back and have various other investments across geographies. No doubt, SMAC presents a multi-billion dollar revenue opportunity in the next 3-5 years,” he said.

As far as Indian markets are concerned, he said that  the environment continues to be volatile.

“As the elections are around the corner, there would be a delay in spending and also the mix of our business in lopsided toward discretionary spending, we expect it to continue to be volatile. We have come to live with it,” said Chandrasekaran.

He said that the company is not looking to enter any new market next year but will like to get deep in markets where it already has a presence.