However, Indian IT services providers and BPM firms will play a significant role in scaling up supply, especially in new areas such as Artificial Intelligence and Machine Learning, Tyagarajan added.
“I think, clearly India is going to be one of the environments where scaling of supply is going to happen, and technology companies are going to help that scaling to happen…,” Tyagarajan told ET in an interview.
“We are now onto a big rescaling agenda in the world. Businesses like ours, and India and similar countries (and regions), like Romania, parts of Latin America, the Philippines and China, are going to be part of that agenda of increasing literacy in this area for a long time,” he added.
Genpact, whose largest employee base is in India, has been conducting close to 100 experiments with various kinds of work models, including a mix of virtual, outsourcing and in-office models.
Not only will Genpact adopt some of the successful models, but its clients, which are looking for lessons to design their organisational structures according to the new normal, will also do so, he said.
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Tyagarajan said various clients in Europe, Latin America, the United States, India and the Philippines – except China where people are operating from offices – are conducting such experiments.
“Whether it is innovation, IP development, building relationships with clients, consulting engagements, digital technology implementations or
delivery of services, all of these are getting redesigned in big global experiments that are happening across the globe,” he said.
Tyagarajan welcomed recent moves by the government to ease some of the regulatory compliances and licensing conditions for the sector but said more needs to be done to increase ease of doing business.
A talent gap is being seen in some European markets as well where skilled people similar to those found in India are available and can be scaled up quickly.
“This is where India has to be careful… We’ve seen the same boom in Eastern Europe, in many countries, we are big in Poland, Romania, Hungary, the Czech Republic. We are seeing significant demand there for similar talent from similar clients for similar types of work. Sometimes those accelerate fast because of the ease with which some of that acceleration can happen,” he cautioned.
Tyagarajan also said there was a “buoyancy of demand” in the marketplace for both business services as well as technology services.
This is driven by enterprises embracing new technologies to change the way they run their businesses.
“What the pandemic has demonstrated is the total addressable market continues to be large and continues to increase… new companies that haven’t thought about partnerships and outsourcing have jumped into the fray,” he said.
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