Mumbai: Tata Sons Chairman N Chandrasekaran on Thursday said the world's dependency on China as the single sourcing market will reduce in the post-coronavirus future, which presents an opportunity for India.
Speaking at the USD 110-billion group's cash cow TCS' annual general meeting the first shareholder meet to be conducted virtually because of the COVID-19 crisis Chandrasekaran said the technology world is moving to work from home (WFH) and the country's largest software exporter will also follow the trend.
The coronavirus pandemic, which originated in China, has forced companies the world over to rethink their reliance on the Chinese supply chain. Simultaneously, the constant flaring up of trade tensions has also meant that the world cannot depend on a single market.
"The opportunity does exist (for India). It is not only a question of a shift, but that of dependency on a single market which will reduce. India will definitely have an opportunity to participate," Chandrasekaran said, replying to a shareholder query.
He added that TCS has presence in China along with 50 other countries and uses its employees there for both domestic projects and also to deliver work globally.
With many shareholders keen to know about the benefits of working from home, Chandrasekaran said at present it is about expenditure in making the shift. He also made it clear that the post-coronavirus future will see a larger number of people working from home.
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Replying to queries centred on media reports of only 25 per cent of employees working from its offices, he called it a "guesstimate", saying a specific number cannot be given, but directionally, it is clear that the staff's reliance on working from development centres will reduce.
"We are seeing this as a trend and making significant investments," he said, adding it is not just about connectivity and computer peripherals, but also about ensuring that all the necessary protocols on the security front are followed.
There was also a revenue loss because of the shift and the same has been absorbed in the March quarter, he said.