Infosys reported $3.21 billion of revenue in the September quarter, against $5.52 billion by TCS.
Investments in innovation-centric areas would help it to stand out as a differentiated player, said the CEO.
The United States and UK markets provide a major portion of revenue for these IT and engineering R&D services companies, but growth is expected to come from non-English-speaking markets, for which language skills will be crucial.
The company last week said it would let go 7,000-9,000 employees globally by 2022 as part of a restructuring of operations intended to cut costs.
Cohen has worked at French IT services firm Atos and has spent over 27 years at IBM.
Tech firm will make strategic bets in sectors like Cloud, digital engineering, data and IoT.
The Indian ER&D sector already employs about 7,00,000 people in the country, which could rise to one million by 2025, if the conditions for growth become more favourable, experts said.
Tata Consultancy Services, India’s top IT services exporter, said earlier it would be hit by a restructuring at Deutsche Bank, a key client.
CEO Rajesh Gopinathan has said the second quarter would be crucial to maintaining double-digit growth this year.
TCS runs the country’s passport project and India Post’s digital and financial inclusion project.
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