like Consumer Care & Lighting into a new company to focus exclusively on IT.
Cognizant continued to give strong competition to its counterparts, pushing Infosys to the third spot in the top Indian IT services players tally with growth of over 20 per
Though it is not listed in India, Cognizant is often referred to as an Indian entity with three-fourth of its over 1.50 lakh employees being based here.
Overall, the companies remain confident of growth and opportunities in 2013. HCL Technologies Senior Corporate Vice President Shami Khorana said though the macro environment will continue to be challenging in 2013 with flat IT budgets, the outlook remains positive.
"We continue to maintain a positive outlook focussing energies on the US and Europe re-bid market," he said.
TCS CEO and MD N Chandrasekaran is also upbeat about the industry's growth. "When history looks back at this era, it will be remembered for the huge technology and digital transformation we are now living through, not the economic turbulence."
According to him, four "powerful" technologies – cloud, analytics, big data and mobility -- are transforming the industry.
"This is throwing up huge opportunities as companies want to optimise investments in current technology, drive growth by using digital technologies and platforms, comply with new regulations, and control new risks more effectively," he said.
While technology adoption cycles are shrinking, clients are looking at making the right investments to stay ahead of the curve, he said.
Echoing similar views, EMC President (India and SAARC) Rajesh Janey said, "SCAM is transforming IT and business across the world. There is a transitional shift from reducing cost to improving business productivity."
Apart from cloud computing technology, another important component of IT spend in 2013 is expected to be social media.
"Technology is getting embedded into business to an ever-greater extent. New technologies and devices are playing a big role. Look at iPads, there are millions of them. Social media, too, is driving this change," Chandrasekaran said.
Talking about growth of mid-tier companies, IDC India Country Manager Jaideep Mehta said companies like KPIT Cummins will continue to grow faster than the industry average, especially those which focus