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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
On the face of it, India’s largest commodities exchange may be struggling because of the delay in switching from 63 Moons Technologies to TCS as its tech partner. But at the heart of the problem lies an excessive reliance on third-party tech vendors.
India’s largest commodities exchange by turnover seems to have hit a roadblock. Multi Commodity Exchange of India is struggling to replace its existing software, the cornerstone of any exchange.
Over the past nine months, MCX, which boasts a market share of more than 95%, has extended the deadline three times to switch from its existing software vendor (63 Moons Technologies) to a new one (Tata Consultancy Services). The first extension came in September last year, the second in December and the third in June.
Uncertainty was especially palpable last month.
On 1 June, MD and CEO P.S. Reddy said that …
Once seen as a threat, global capability centres appear to be becoming a potential growth driver for the country’s IT giants.
TCS CEO Krithivasan’s stunning disclosure lays bare a bind: AI is forcing IT services giants to give away a chunk of renegotiated contract value, even as new revenue remains lumpy and uncertain.
With competition in the segment intensifying, the chief business development officer of India’s largest exchange unpacks the bourse’s strategy going forward.
