No indication of slowdown impact on IT yet: Mindtree

Momentary Impacts

- Decision-making in certain sectors

- But organisations keen to drive innovative outcomes

- Technology is bound to remain competitive

- Market relevance and business resilience to support IT

New Delhi: Macroeconomic and geo-political developments are unlikely to turn back or stall business-critical technology modernisation, IT services firm Mindtree's CEO Debashis Chatterjee said.

He said there could be momentary impacts on the pace of decision-making in certain sectors, but with organisations across industries going all out to drive innovative outcomes, continuous differentiation and sustainable growth in the new normal, technology is bound to remain at the heart of competitive advantage, market relevance, and business resilience.

The comment comes amid fears that the global economy may be facing an increased risk of recession. In fact, some of the large global tech companies are already pulling back on aggressive hiring plans over concerns of a looming economic slowdown. Asked how the global tech budgets will fare in coming quarters given high inflation and macroeconomic worries, Chatterjee said macroeconomic and geo-political developments are unlikely to turn back or stall business-critical tech modernisation.

Going by experience, economic headwinds spur organisations to free up dollars from areas of inefficiency and redeploy them on initiatives with assured return on investment, he told PTI in an email interaction.

"This invariably drives greater technology-led innovation. Our robust first quarter performance has reinforced confidence in our ability to continue our growth momentum," Chatterjee said.