WEF 2022: Tech sector has better outlook than most sectors, says Tech Mahindra's CP Gurnani

With the pandemic subsiding and the world resuming back to the old style of living, CP Gurnani, MD & CEO, Tech Mahindra still believes the technology sector has better outlook than most sectors. In conversation with Business Today TV’s Siddharth Zarabi at the World Economic Forum at Davos, Gurnani said, “I've been travelling for the past few weeks. In US, the discussion is more around inflation. You come to Europe, the discussion is more about the war. And you are in Asia, the discussion is more about the gas prices. Same statement, but three different versions. Yes. I think to some extent, being in the technology sector, I would say is that even during these tough times, technology sector has a better outlook than most other sectors.”

He explains saying that ultimately the commerce has now moved to digital. And commerce means growth. Commerce means doing business together. That is the reason why technology will continue to be in the favourable lines. However, the growth might not be steep for everyone.

“We will be in a growth phase. It may not be as steep a trajectory as it was. And the main reason is the overall consumer demand has slowed down globally. When the consumer demand slows down, the businesses also have to adjust to the consumer demand.”

Speaking how the world is looking at India, Gurnani added, “Many years ago, when the Modi administration came to power, that delegation was led by late Arun Jaitly. When he said we are open to business and we are going to grow, I don’t think people took him so seriously during that visit. But today, the same set of people do know we are growing 8 to 9 per cent, the world will grow 3-3.5 per cent. The reality is that becoming are a large startup nation, having those unicorns, I think the world is noticing.”