In the medium and long term, customers starting on multi-year technology renewal cycles, as well as their increased focus on growth and transformation (G&T) activities, are projected to provide strong growth levers for Tata Consultancy Services (TCS), according to its CEO Rajesh Gopinathan.

The top executive, in his letter to shareholders, said the company's business performance in the past year is a reflection of its resilience and adaptability.

"In the early months of the pandemic, when the worldwide lockdown disrupted economic activity across virtually all sectors, your company responded with speed and agility, embracing a new operating model, Secure Borderless Workspaces (SBWS)," Gopinathan said.

He added that working remotely, TCS' teams helped customers maintain business continuity during peak disruption, and thereafter, to accelerate their growth and transformation (G&T).

"We are entering FY2022 with strong growth momentum and with much better visibility for future growth than we did last year, powered by a strong order book built up throughout the year and a robust deal pipeline. In the medium and longer term, we see strong structural growth drivers triggered by the multi-year technology refresh cycle that our customers are embarking on, and their increased focus on G&T initiatives," Gopinathan said.

He noted that the G&T opportunity is very large, and yet to be fully scoped.

"The transformation imperative will only strengthen over time, and as new technologies emerge, new combinatorial possibilities will open up, driving further investments by our customers. So, we believe this market will see tremendous growth in the coming years. That puts us in a very advantageous position," Gopinathan said in the annual report.