Growth still not felt on ground; Government needs more time: Azim Premji

Bengaluru (PTI): A huge fall in oil and other commodity prices has helped the economy in a big way, but growth is still not felt on the ground, top industry leader Azim Premji said on Wednesday.

He, however, added that there is a need to give the government more time.

Addressing the company’s 69th Annual General Meeting here, the Wipro Chairman also said that the US economy has gained a lot of strength in the last year, while Europe is also seeing a lot of business traction.

About Wipro, Premji said the company is making significant investment in its workforce to enhance digital skills.

“We have a strong balance sheet and have an appetite” to make inorganic investments to increase growth, he added.

In his letter to shareholders, published in the company’s Annual Report 2014-15, Premji had earlier said that Wipro was investing significantly in re-skilling the workforce to take advantage of opportunities that arises from digital technologies.

“At Wipro, we realize the importance of dealing with change. It is not sufficient to recognize and react as change happens; it is important to anticipate and prepare. To do this we need to work both internally and engage with the broader ecosystem,” Premji had said.

“We do this in multiple ways. We invest significantly in reskilling our workforce to take advantage of the newer opportunities that arise out of Digital technologies. We invest in partnerships with companies engaged in niche Digital technologies,” he had said.