Indian IT sector back on growth path: Infy CEO

Infosys Technologies CEO S Gopalakrishnan has said the Information Technology sector in India is in another growth phase.

"In 2008, the industry saw growth coming down to single digits. Most IT companies stopped hiring employees and stopped expanding. Fortunately, growth is back and most companies are hiring in large numbers again. The top-five companies are estimated to hire 1,60,000 to 1,80,000 new employees in the next 12 months," he said here.

Gopalakrishnan was delivering the keynote address on 'Sustainable Development Strategies for the Capital City (Thiruvananthapuram)' at a discussion organised by College of Architecture here last evening.

"The IT industry has grown fast over the last 15 years. For example, the industry had about 1.50 lakh employees in 1993, around 5 lakh employees in 1999 and today, the industry employs around 2 million employees," Kris said.

Multinational corporations are also looking to India to expand their markets and to create back office function and many of them are looking at Tier II and III cities to expand, he said.

Emphasising the significance of infrastructure development in growth of these cities, he said an effective mechanism is essential to implement various development strategies.

"Industry bodies, relevant NGOs, civic bodies must all have a role to play. For example, industry bodies will be able to mobilise participation by experts. Industry will be able to provide project and programme management expertise. Civic leaders will be able to mobilise public opinion. Thus I believe there is a higher chance of the initiatives getting implemented," Kris said.