TCS which has been in the US for more than 50 years has been the growth and transformation partner for America’s most valuable companies. TCS has more than 1,000 clients in the US.
Right time for India-US tech trade to grow-
Suresh Muthuswami, the Chairman of North America for Tata Consultancy Services (TCS), stated that with India’s impressive economic growth attracting numerous US companies, particularly in the technology sector, the current circumstances present an ideal opportunity for bilateral trade to flourish. Muthuswami emphasized that both nations are currently experiencing a more favorable and business-friendly environment, which has generated significant interest among US companies to engage with India, particularly in the field of technology. In an interview with PTI, he expressed that he has never witnessed such a favorable business climate from both governments before.
India’s bilateral trade with the US has exhibited a consistent upward trend since 2000. However, between 2020 and 2022, it experienced a substantial surge, surging from $120 billion to $191 billion.
“We have merely touched the tip of the iceberg. The US government has displayed immense interest, recognizing India as a burgeoning economy, and there is a significant inclination to engage in business with India. Therefore, the current conditions are ideal for fostering exponential growth in trade between the two nations.”
TCS, a company with a presence in the US for over 50 years, has served as a growth and transformation partner for some of America’s most valuable companies. With a client base of over 1,000 in the US, TCS envisions significant potential for further expansion. Highlighting the current trend, Muthuswami stated that as companies across various industries increase their technology investments, they aspire to become technology-driven enterprises themselves. This signifies a broad market opportunity for TCS, as companies from diverse sectors seek to leverage technology to drive their growth and innovation.
Muthuswami plays a pivotal role in overseeing TCS’ primary market, focusing on driving business growth, enhancing customer relationships, and assisting clients on their digital transformation journeys.
Additionally, he is a strong proponent of STEM education and leads TCS’ extensive initiatives throughout North America. These efforts aim to equip underserved communities and the upcoming generation of talent with essential computer science skills required for thriving in 21st-century careers. Muthuswami spearheads TCS’ comprehensive endeavors to provide a foundation in computer science education, empowering individuals from diverse backgrounds to excel in the rapidly evolving technological landscape.
In response to a query, Muthuswami expressed the importance of sharing technology, advanced technological skills, and best practices as a means of upskilling.
He highlighted the necessity of knowledge exchange and collaboration in the realm of technology, emphasizing the significance of sharing expertise, cutting-edge skills, and successful approaches. Muthuswami acknowledged that fostering a culture of knowledge-sharing and upskilling is crucial for individuals and organizations to stay competitive in today’s rapidly evolving digital landscape.
Muthuswami expressed his hopes for Prime Minister Modi and President Biden to address the significance of enhancing technology partnerships and bolstering innovation ecosystems during their discussions. He emphasized that this collaboration should extend beyond businesses and encompass governments and economic institutions.
The TCS North America head stressed the critical nature of the partnership between the US and India, particularly in game-changing technologies such as quantum computing, artificial intelligence, 5G, and the Internet of Things. He highlighted the importance of joint efforts in these areas, as they hold immense value for both countries in terms of advancement and progress.
Muthuswami expressed enthusiasm for the recently launched ICET Dialogue, considering it a positive step towards strengthening the relationship between the US and India. He emphasized the potential of this platform to deepen ties between the two nations, underscoring the role of both governments in facilitating collaboration.
Recognizing the rapidly evolving pace of technological advancements, Muthuswami emphasized the importance of unity and coordination between the public and private sectors in both countries. He emphasized the need for a collective and synchronized response to effectively address the challenges and opportunities brought about by these advancements.
In December 2020, TCS revealed plans for expanding its business operations in Austin, Texas. The company announced the construction of a new facility, aiming to double its existing presence in the city to over 400 professionals. This expansion would supplement TCS’ already substantial employee base of 5,500+ across the state.
Furthermore, TCS projected the hiring of 130 new employees in Austin by 2022. Demonstrating its commitment to the region, the company announced a significant investment of over USD 100 million in Austin over the next seven years.
TCS made an announcement in July 2021 regarding its intentions to expand its operations in Phoenix, Arizona. The company revealed plans to invest over $300 million by 2026 and hire more than 220 employees by 2023. This expansion aims to effectively address the digital transformation requirements of TCS’ clients.
In February 2022, TCS made another expansion announcement, this time in New Jersey. The company expressed its intention to hire nearly 1,000 additional employees by the end of 2023 in order to cater to the increasing demands of customers seeking digital transformation solutions for their businesses.
In response to a query, Muthuswami shared that TCS has recruited approximately 21,000 individuals in the United States over the past three years.
He further mentioned that within this timeframe, TCS has successfully hired 4,500 graduates from American universities. The company’s talent acquisition strategy has been focused on these initiatives, which have yielded excellent results. Muthuswami emphasized TCS’s commitment to further strengthening its investments in the US and expanding its workforce within the country. He proudly acknowledged the diversity within their US workforce, reflecting the company’s inclusive approach.
Muthuswami noted that TCS has successfully recruited 4,500 individuals from universities in the United States within the past three years. Their talent acquisition strategy has primarily revolved around these efforts, which have proven to be highly successful. Muthuswami emphasized their commitment to further expanding investments in the US and continuing to hire more individuals within the country. The results of this approach have been remarkable, with TCS experiencing substantial growth. Notably, their US operations now contribute to 54 percent of their global revenues. He also highlighted the diversity of their current US workforce, reflecting their inclusive practices.