'India's IT companies have become complacent'
In an interview to Mint, Infosys independent board member Ravi Venkatesan said that the country’s biggest information technology (IT) companies have become complacent after years of rapid growth and high-profit margins, and continue to avoid taking big risks. He added, “There has been innovation in hiring, in training and in new service lines, but a lot of this innovation is incremental and overall the IT services business is quite commoditized as a result.”
He also talked about diluting hiring standards in the IT companies. He said, “More importantly, to feed the machine, a lot of companies are continuously diluting their hiring standards. As a result, the talent pool and the culture across a lot of the industry is pretty worrying. So overall, it’s a rather dire situation, whether people realize it or not.”
Read the complete interview here