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Mr S. Gopalakrishnan

Our Bureau

New Delhi, Nov. 18 Infosys Technologies has said it intends to increase the proportion of non-US and non-Europe revenues to 20 per cent in the next 4-5 years.

The statement comes at a time when the Indian IT industry’s traditionally strong export markets are experiencing a prolonged financial crisis.

The Bangalore-based IT service provider currently derives 62 per cent of its revenues from North America, 28 per cent from Europe and 10 per cent from the rest of the world.

“For some time now, we have been changing the ratio of non-US business…We will continue to rebalance this…We have articulated that we will try to get it to a 40:40:20 ratio for North America, Europe and the rest of the world…That will happen in the next four or five years,” Mr Kris Gopalakrishnan, CEO of Infosys, said on the sidelines of the World Economic Forum on Monday.

He said it was difficult to predict how many quarters the current slowdown will last.

“Analysts are talking about H2 of 2009 or early 2010 (recovery). As we speak there are delays even after the project is allocated and the ramp-up is slower than usual,” he added.

With companies now looking to finalise their annual budgets, he said that there were some indications from clients that the IT spending will be lower next year than this year.

However, there were also signals that clients would increase the offshore allocation.

The company currently derives close to 35 per cent of its revenue from the BFSI space and that ratio will remain the same in the near term.

“There are opportunities for growth even in BFSI given the mergers and acquisitions and change in ownership, and integration work,” he added.

More Stories on : Outlook | Software | Infosys Technologies Ltd

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