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Wipro plans to invest more in digital technologies and start-ups. The company intends to make strategic investments in start-ups and train its workforce on digital skills, Chairman Azim Premji said at the company’s 69th AGM.
Wipro has formed a $100-million corporate Venture Capital (VC) fund to invest in start-ups focused in digital and other cutting-edge technologies. Premji added that Wipro has a strong balance sheet and an appetite to make inorganic investments to increase growth. Through a special resolution, Wipro’s shareholders also approved the re-appointment of Azim Premji as the Executive Chairman and Managing Director for two years.
Premji said the Centre is reporting a GDP growth rate of 7.5-8 per cent, yet the growth rate is not being felt on the ground in terms of traction. “But in all fairness to the Centre we have to give it more time,” said Premji.
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