New York: India’s largest software exporter TCS is focussing on emerging markets for growth opportunities, company’s CEO S Ramadorai has said.
“We’re feeling pressure in terms of contraction of demand...We are focusing on emerging markets for growth opportunities, whether it is India, Latin America, potentially China,” Ramadorai said in an interview to Forbes Asia magazine.
He also added that emerging markets cannot compensate for the contraction in (demand from clients in) the US, UK or Europe.
According to Ramadorai, the major markets -- US, UK or Europe -- contributes about 85% of the company’s total business.
“So any contraction here cannot be made up by growth there,” he said in the interview published online.
Ramadorai also added that TCS is experiencing pricing pressure of “anywhere from 4% to 15%”.