Indian IT has miles to go; TCS world leader: Founder Kohli

The Indian IT industry has miles to go, says the founder of Tata Consultancy Services (TCS) FC Kohli, also regarded as the father of the Indian software industry. Speaking to CNBC-TV18, Kohli defends the company's below-than-expected Q2 earnings growth in the last few quarters and says TCS is not only well positioned to beat global peers but can also beat macro-economic and quarterly volatility.

Below is the verbatim transcript of FC Kohli’s interview with Kritika Saxena on CNBC-TV18.Q: How do you compare TCS performing as against IBM?A: IBM HR told me that Tata Consultancy Services (TCS) is now almost behind them. It is not the question is Cisco Systems has a world market and it is not the world market it is their own market in United States which is very strong. You have no India market at all. There is a world of difference. Q: So you think create in Indian market to be able to grow and establish that?A: I am saying, it is not a question of creating. We need it for the country’s development. Q: Where the company stands right now in the IT landscape? Do you believe it is well placed to be able to beat competition, beat market fears?A: If they are making about USD 20 billion that is not either here or there, it is a world leader. Q: There are lots of volatility we respect to macroeconomic condition. Do you believe the Indian IT industry is well positioned. Players like Infosys, TCS are well positioned to be able to beat that volatility?A: Indian IT industry has to go miles. There is no question if is it doing. The people have to do it. The education set up has to do and we can do it. It is not that we have no hardware industry. How is the software fellow going to get into hardware?