Wipro plans to implement salary hikes in the October-December quarter, with an expected average increase of 6%-8%. Top performers may receive double-digit raises. Other Indian IT firms like TCS have also offered similar hikes, while Infosys is yet to announce its increases, but they have begun the year-end performance review cycle.
Raamdeo Agrawal said Indian IT sector is a combination of entrepreneurship and skills and that India story starts with IT. He sees Indian IT firms to be darlings of corporations globally as soon as AI adoption picks pace in the next 3-4 years.
Now referred to as global capability centres or GCCs, these arms of foreign companies employ close to 1.7 million in India and had a combined revenue of USD43 billion in FY23. While this is good for Indias tech talent, it makes life harder for Indian IT services companies as they compete with GCCs for business.