Is Europe the Next Biggest Market for IT Companies? TCS COO thinks so! Here's Why

The pandemic has forced businesses across the world to rethink their business models and devise new strategies to cope with the losses. The recent H1B visa Ban too has forced IT companies to look for other alternative locations where companies can expand their businesses.

The COO of Tata Services Consultancy (TCS) NG Subramaniam stated in an interview with Economic Times that better opportunities are coming out of Europe at present. While talking about the same he explained how the pandemic has affected different areas in different ways but the recovery in these areas are dependent upon the response of local authorities, local governments and degree of impact amongst others. 

He futher said that similarly, every country and in fact every single market has been affected by the pandemic and their response varies but in his view, Europe seems to be a good option because if a particular area of village is affected, “their ability to test quickly and then isolate it and then contain it, has been great in the last at least six to eight weeks."

“Europe seems to be in better control of this particular pandemic than let us say the United States or UK or elsewhere. So, we are seeing traction and in these particular markets we are seeing opportunities opening up with customers,” he stated.

He also added that, Europe is “slowly opening up the borders across countries. It really looks like there are opportunities in Europe and we believe that on a rupee term, we have a modest growth year on year.”