In a joint report, Future of Technology Services – Navigating the New Normal, prepared by Nasscom and McKinsey, the industry body has found out 80% jump in cloud spending since the pandemic.
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“The pandemic had an impact on lives and livelihood at the same time it has also acted as a catalyst for change. We have seen how technology has been critical in our lives and we have seen technology has helped us in dealing with the pandemic in terms of enabling work from home,” said Rao, adding that: “There is a huge opportunity in front of us. There is some work to be done by the industry.”
Tech natives and digital reinventors with revenue over $3 billion have driven 65% of the $ 6 trillion growth in market capitalization between January to July 2020, highlighting that technology is now core to future business recovery, said Noshir Kaka, Partner, McKinsey, citing the report.