TCS to invest Rs 1,300 crore for capital expenditure

First 3 months of the fiscal have witnessed flat growth for TCS

 

Tata Consultancy Services (TCS) said it will invest Rs 1,300 crore for its capital expenditure in the current financial year. "We will invest Rs 1,3000 crore for capital expenditure in this financial year," TCS Chairman Ratan N Tata said at the company's AGM here. The first three months of the fiscal have witnessed flat growth for the IT major. In the immediate future, the growth depends on the improvement of the economies, Tata said.

 

Commenting on the American administration's opposition to outsourcing, he said it would affect the Indian IT industry, for which the US is a major source of revenue.  "But it will not be a major issue. We do not suffer from visa shortages," Tata said.

 

Tata said the company would look at off-shoring more work to India as a way to reduce cost. For an increase in revenues, the firm would look at new markets and verticals. It would look at life-sciences, utilities and energy and infrastructure verticals for newer opportunities, he said.

 

Source: The Economic Times