Mumbai, India — The Diwali festival, a significant cultural celebration in India, is illuminating sales for Qualcomm and sparking optimism from Tata Consultancy Services (TCS). As this festive season rolls in, major tech players are reporting promising financial forecasts, suggesting a robust recovery and growth trajectory.

Qualcomm, a key player in the semiconductor industry, has noted a substantial uptick in demand for its products during this festive period. The company reported a 15% increase in sales during the third quarter, driven largely by the surge in mobile device purchases as consumers capitalize on holiday discounts and new product launches. This growth aligns with broader market trends where consumer electronics are witnessing a renaissance as pandemic-related supply chain issues subside.

TCS, India’s largest IT services firm, is also seeing the benefits of this seasonal boost. CEO K. Krithivasan mentioned that the company is experiencing what he termed as “green shoots” in various sectors, including banking, healthcare, and retail. According to TCS, the company secured over $10 billion in new contracts in the last quarter alone, a clear indicator of resilience in the face of global economic challenges. Krithivasan emphasized that the festive season typically augurs well for IT spending, as companies look to enhance their digital transformations and operational efficiencies.

This growth aligns with broader market trends where consumer electronics are witnessing a renaissance as pandemic-related supply chain issues subside.

However, the optimism isn’t without its challenges. The global economy is still navigating inflationary pressures and geopolitical tensions that could impact consumer spending in the long term. The International Monetary Fund (IMF) recently revised its global growth forecast down to 3% for 2026, citing these ongoing uncertainties. Companies like TCS and Qualcomm must remain agile, adapting to shifts in market demand while also investing in innovation to maintain competitive edges.

Moreover, the semiconductor supply chain remains a critical concern for Qualcomm, despite recent improvements. The company is ramping up investments in its manufacturing capabilities, aiming to mitigate risks associated with future disruptions. This proactive approach is essential as demand for chips is expected to surge further with the advent of 5G technology and the Internet of Things (IoT).

Looking forward, the tech sector is poised for a transformative period. With Diwali serving as a bellwether for consumer sentiment, companies like TCS and Qualcomm are well-positioned to capitalize on the growing demand for technology solutions. As organizations invest in digital capabilities, the focus on sustainable practices and green technology is likely to become paramount.

In this evolving landscape, leaders must prioritize agility and innovation. The ability to adapt to changing consumer behaviors and technological advances will be crucial for sustained growth. As the market shifts, TCS and Qualcomm are not just riding the wave of Diwali sales; they are laying the groundwork for a future where technology plays an even more integral role in everyday life.