Top five IT services companies -- TCS, Infosys, HCL Technologies, Wipro and Tech Mahindra -- spent around $370 million on travel costs in FY21, 75% lower than FY20
Bengaluru: India’s technology outsourcing industry has seen an 85% drop in carbon emissions during FY21 at about 0.3 million tonne against the pre-pandemic level of about 2 million tonne, according to a study by market intelligence firm UnearthInsight.
The study conducted for FY21 included more than 2,000 technology outsourcing companies in India, including IT, ITeS, engineering, global capability centres, and startups.
UnearthInsight estimates a mere $750 million was spent on travel costs in FY21 by outsourcing industry compared to $2.9 billion in FY20. Top five IT services companies -- Tata Consultancy Services (TCS) Ltd, Infosys Ltd, HCL Technologies Ltd, Wipro Ltd, and Tech Mahindra Ltd -- spent around $370 million on travel costs in FY21, 75% lower compared to $1.4 billion in FY20 primarily helping reduce carbon emission resulting from commute to work, domestic travel, and international travel.
“The outsourcing Industry was on track for the adoption of hybrid working models, electric mobility even before covid however the pandemic and quick adoption of digital tools/technology has dramatically changed the scenario and today carbon emission reduction looks sustainable over a longer period of time," said Gaurav Vasu, founder & CEO, UnearthInsight.
“Covid-19 disruption also made the largest industry players move from pilot to large-scale deployment of technologies like digital campus hiring platforms which helped significantly reduce carbon emission earlier generated by travel to over 1000+ campuses across the country," UnearthInsight said.
It estimated that 70,000-75,000 freshers got hired through end-to-end digital platforms of top two IT companies -- TCS and Infosys. It is also expected that by 2025, 75% of campus hiring for tech industry will happen through advanced end-to-end digital platforms and tools.