Business Daily from THE HINDU group of publications
Saturday, Dec 20, 2008
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Business Daily from THE HINDU group of publications Saturday, Dec 20, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Info-Tech
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Software IT growth story in early stages yet!
Mr Kris Gopalakrishnan Our Bureau Hyderabad, Dec. 19 Is IT growth story over? No. It is just, say, in the fifth over of the first innings in an exciting 20:20 cricket match. The industry is still in the early stages of developing, holding huge promise, quipped Mr Kris Gopalakrishnan, Chief Executive and Managing Director of Infosys Technologies. Delivering the keynote address at the International Symposium of Information Systems (ISIS 2008) held at Indian School of Business here on Friday, he said the Indian IT industry was passing through yet another slowdown. “Since 1987, it witnessed five slowdowns. It will overcome the present slowdown too,” he hoped. People were not talking about losses. It is just reduction in profits they are forecasting, he added. Stating that the future was wide open, he said the growth opportunities were immense as the industry was still in the early stages of growth. Need to scale upHe, however, cautioned that the companies needed to step up, fine-tuning their activities keeping pace with the latest developments. Tracing the growth and rise of IT industry in India, Mr Gopalakrishnan said it was IT industry that actually showed the way in evolving businesses process and global delivery models for sectors like manufacturing. It also paved the way in creating eco systems that included transportation, infrastructure, power back-ups and quality manpower. Citing the Infosys example, he said the company emerged as the ‘largest hospitality’ player by maintaining 15,000 boarding rooms across various cities. He said the company spent $170 million, or 4 per cent of its revenues, on education for its employees. “We have built 13.5 m sq. ft. of space, providing world-class facilities. At present, 10-11 m sft of space is under construction,” he added. ‘India growth story intact’ IT cos may reduce capex to counter meltdown IT industry growth may halve to 15% this fiscal: Infosys More Stories on : Software | Information Technology
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