The country's largest software exporter, Tata Consultancy Services, has said the global business environment continues to be volatile and its clients in some sectors are still not showing signs of recovery, which may put pressure on pricing.
"What we see is still certain shocks that are appearing. We are going to witness some shocks along the way and if we are servicing some of those customers we can expect certain problems. The environment is not as stable as one would like to see," TCS CEO and MD S Ramadorai said in an interview to CNBC TV18.
He said, "To me it is a volatile yoyo, an unpredictable environment."
Ramadorai said that going by the conditions on the ground, he wouldn't say for sure that the worst may be over and added, "You need to create opportunities and newer areas like life sciences, pharmaceuticals and energy."
Talking of specific sectors, he said that TCS clients in areas of telecom, manufacturing or hi-tech are "definitely not showing signs of recovery. So there may be some pricing pressure for sure."
He, however, said that the banking and financial services sectors, other than insurance, have improved.
On offshoring business model, Ramadorai said, "Focus is not just on the United States or Europe but emerging market is as important."