India’s third-largest IT services exporter, Wipro, is all set roll out its software products in the market within the next one-and-a-half years.
While large outsourcing and application maintenance deals remain the key growth driver for Indian IT services industry, the companies have started investing in developing a strong portfolio of technology products in anticipation of a change in business landscape.
Though it is still at a nascent stage, Infosys and Tata Consultancy Services have already travelled some distance on the software product front.
“First level of what we are doing is that we are doing for ourselves to reduce cost and deployment within,” TK Kurien, CEO, Wipro told HT. “The next step is to take these same technologies that we are developing within to third parties. That will probably take 12 to 18 months.”
Wipro has been investing in setting up labs and hiring tech wizards besides collaborating and co-funding research on advanced technologies with a view to developing an array of products.
“I don’t talk about it much. It is running in stealth. It will take us some time to talk about it in detail,” Kurien said. “Right now our resources are focussed on getting it ready for ourselves.”
Wipro has been striving hard to catch up with the industry growth rate for the past few years.
“We are on the right path now. Trajectory is very positive. To that extent I have confidence we are getting there,” he said. However, the company, which has a strong client base in the energy sector, faces challenges due to crude oil price crash. “Next quarter we will be impacted little bit by oil and gas. But long term we will get there,” he said.