India Plays Key Role in Advanced Manufacturing says, TCS Chairman
Tata Consultancy Services (TCS) Chairman N. Chandrasekaran, in the company's annual report for fiscal year 2024, stated that ongoing geopolitical challenges are reshaping established supply chains, pushing companies to prioritize both resilience and efficiency. He emphasized India's growing role in advanced manufacturing as new global supply chain ecosystems are being created.
Despite the challenges of the past two years, including recessionary fears, high inflation, and stringent monetary policy, Chandrasekaran noted an improved global economic outlook with better growth, disinflation, and monetary easing on the horizon.
The shift towards advanced manufacturing, AI, new energy, data, and innovative business models is driving the need for new skill sets and changing the future of work. TCS achieved annual revenues of Rs 240,893 crore, marking a 6.8% growth over the previous year, and reported an industry-leading operating margin of 24.6%, an increase from 24.1% the previous year.
Chandrasekaran highlighted the transformative impact of generative AI across sectors and countries, noting its potential to enhance productivity and create previously unforeseen opportunities. He pointed out that multiple mega trends AI, new energy, supply chain, and talent—are shaping business priorities and will necessitate significant technological investments across industries.
