Challenges and opportunities in 2023
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In 2023....
In starting of the year, there are multiple ways to get the forecasting and logical prediction of the growth of the IT segment. Most fund managers and investors have an optimistic view of the growth rate of the Indian economy. Though the conviction for the growth of the IT segment is slightly neutral. I personally believe that the IT segment will grow in India if companies focus on domestic demand.
The domestic demand of the service in technology will remain and probably will increase. The reason behind this is the scope. In India there is a huge scope in development of the information infrastructure. At this moment whatever we achieve in UPI and ADHAR service is the key example of our expertise in the field of technology. No doubt, digital rupees is also another unique concept but the concept was not only innovated by us. However, we should appreciate on this milestone of the country because India have develop it upon its own capabilities.
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IT companies might experience difficulties to sustain their margin in the year 2023, because of the domestic demand. In domestic demand, the transaction would be in Indian rupees and the dollar income of the company may downgrade, this type of change in audience of the business may decrease the margin. To keep margin at sustainable level, employee salary costs have to manage. No doubt, there are so many direct and indirect cost would be upon the company but for the IT majors, employee salary cost is core cost of the companies. Therefore, it is necessary to avoid employee snatching by providing them the unrealistic and cupid offers. These type of greedy offers can provided by those who does not want to pay their employees. So, it is better to stretch upon the employee engagement and satisfaction beside their remuneration. This phenomenal step would help to keep margin at desired rate.
In short line, I believe year ahead would come with the lot of challenges and we all have to be collaborative and supportive.
Sanghe shakti Kaloyuge