New global order will emerge from current pressures: Mr Narayanan

Mumbai, Feb 13 (UNI) The three-day NASSCOM leadership forum began here today with a word of caution from its Chairman Lakshmi Narayanan to the IT sector that from the current multiple pressures will emerge a new global order.

In his opening remarks to the Forum, Mr Lakshmi Narayanan, Vice Chairman of Cognizant Technologies said that the pressure to manage costs and deliver solutions at the same or lower price points would continue.

''The pressures to be more efficient, to increase productivity, improve quality and be agile 24 x 7 will be the new baseline'' he said, adding that the pressures to take responsibility as a creater and be accountable for the outcomes would also increase.

The NASSCOM chairman pointed out that despite the multiple challenges faced by it, the Indian IT and BPO sector has demonstrated that good growth and good management, clearly demonstrates the value the Industry delivers to the market and the confidence of global corporations in India.

Highlighting the challenges faced by the customers, he said, the threat of a slowdown, shortage of talent in the home markets, escalating costs, pressures to keep jobs and competitive pressures in a globalised world, would continue.

''Current belt tightening is not temporary - come growth, come currency stability, come supply surpluses, the industry will have to operate at the new performance levels and those that don't will be driven out by competition'' he added.

Mr Lakshmi Narayanan said that the Industry in India could become a leader as a true long term partner and a trusted source and value driver, if ''we are sympathetic to the market situation and our customers' current needs and show the flexibility to deliver long term value by managing costs, by innovating and by making our customers succeed in difficult times''.

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