India's software services giant Wipro is betting big on the energy vertical as more companies turn to technology-centric methods for exploration and production of natural resources.
The oil and gas industry is expected to grow at about 2 percent annually for the next 20 years, said Anurag Mehrotra, vice president and head of client relationship group at Wipro Infotech, in a report Monday by Times of India.
He added with the increasing difficulty in accessing resources, domain-focused technology centric and economical solutions will be in demand, he said.
"This provides a great opportunity for service providers like us having both the domain expertise as well experience of being at the sweet spot where technology meets business. And we are prepared to tap into this opportunity," Mehrotra added.
The energy, natural resources and utilities business contributed 15.1 percent of Wipro's IT services business revenue for the quarter ending September, noted the report.
Indian information technology (IT) services exporters, including Wipro, have recently been dropping their smaller clients in favor of focusing their resources on strategic customers.
"We are knocking off many of our tail accounts which do not have a value proposition,"said TK Kurien, CEO of Wipro, India's third-largest software exporter, in the report.