Davos 2023: IT Industry Will Ride Out The Slow Patches, Says Tech Mahindra's CP Gurnani

Tech Mahindra Ltd.'s CP Gurnani is confident about the next few quarters for the Indian IT sector and expects the industry to ride out the slow patches.

"There could be a few quarters where some of the Indian industries may be out of sink. But overall, the need for technology (cloud, artificial intelligence or automation) is high, the businesses will have more digital buyers," Gurnani, managing director and chief executive officer at Tech Mahindra, told BQ Prime's Niraj Shah on the sidelines of the World Economic Forum in Davos.

"The world economy is a seeing a beautiful contrast right now; it is sunny and cold both at the same time," Gurnani said.

"Tech Mahindra clearly sees artificial intelligence is now no longer linear growth, but it will be exponential growth," said Gurnani. This will result in witnessing more automation in the future, he said.

Gurnani also spoke about the marketing services company in New York acquired by Tech Mahindra, and said the company is growing almost 100% on a yearly basis purely because of the new digital channel Metaverse.

With the data load, 5G connectivity is helping Tech Mahindra feel secure and optimistic about connected solutions, he said.

"Connectivity, content, creativity and cybersecurity—these are all good technology bets to take," according to Gurnani.