Covid is the new Y2K, says Jayesh Ranjan

Covid opportunities are more democratic and even startups stand equal opportunities to benefit due to the advance tools and technology available now, Ranjan said

Hyderabad: The Covid has opened by an opportunity for the IT sector that is comparable to the Y2K challenge that drove the growth of the industry from 1997 to 2000, said Industries and IT Principal Secretary Jayesh Ranjan.

Participating in an event organised by industry body Hysea with a theme `Win the new normal’, he said the Covid is the next Y2K moment that we are seeing. “Y2K then gave a huge push to the IT industry and several companies that had worked on it have grown big. Ofcourse this was linked to their ability to address the problems,” he said.

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Then only big companies were in the fray to take benefit of the opportunity. However, Covid opportunities are more democratic and even startups stand equal opportunities to benefit due to the advance tools and technology available now, Ranjan said.

Software Technology Parks of India Director General Omkar Rai said new technologies like Internet of Things, artificial intelligence, gaming, animation, medtech, blockchain and others will be key in bring value to the IT sector. STPI, which has two centres of excellence in Telangana, has been an integral part of the IT growth, he said.

Hyderabad is doing some pioneering work in these new and emerging technologies and these will be emulated by the rest of the country soon, he said.

CP Gurnani, CEO and Managing Director of Tech Mahindra, said the company is committed to enhance its investments in Telangana. It is open to work in partnerships with the Government and industry bodies on new technologies. “We will be a partner in building the future of Hyderabad, future of Telangana and future of technology,” he said.

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