Technology, media telecom CEOs see some recovery in next few years amidst Covid blues: Survey

Economy


Mumbai: Even as Indian companies gradually hope to emerge from the Covid pandemic, a large percentage of Technology, media telecom (TMT) CEOs hope to see growth for next three years, a KPMG survey said.

At least 61 per cent of CEOs reported an earnings outlook of more than 10 per cent, a KPMG TMT industry CEO Outlook said.

Post COVID-19—TMT is going to be very much at the fore front of everything we do. It will be the competitive differentiator for how all businesses and ecosystems work. The advent of technologies such as AI (artificial intelligence), IoT (internet of things), AR (augmented reality) and VR (virtual reality), has today brought into reality the feasibility of conducting online business for sectors such as education, healthcare, consulting, retail, all of which were mainly centred around personal interaction, the report said.

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The report is based on a survey of 300 TMT CEOs from India – a mix of executives from fortune 500 companies and startups.

Satya Easwaran, Partner and National Sector Leader, Telecom, Media and Technology, KPMG in India, said,” COVID-19 has brought about a fundamental shift in the way businesses operate. As a result, the TMT sector is experiencing a new wave of innovation and invention. Convergence in the role of telecom and technology companies, increase in strategic partnerships, as well as government-led initiatives, are expected to assist the industry in catering to the changing needs of the customers.”

“With the growing maturity of emerging technologies, such as AI, IoT, big data, edge computing etc., 5G is expected to bring about a tectonic shift in the TMT industry and present a range of economic opportunities in the next three to five years,” said KG Purushothaman, Partner and National Sector Leader – Telecom, KPMG in India.



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