Infosys believes growth picture will clear in a year

Infosys Technologies believes that queries on growth revival would be much clearer by the middle of next year, said Kris Gopalakrishnan, CEO and Managing Director. The company also said it was still looking at acquisition opportunities.

Speaking to reporters at the sidelines of Nasscom’s two-day human resources’ conference, inaugurated here today, he said growth will mainly come from developed countries, which are having higher GDP.

“We have to be cautious and have to wait to understand that the recovery is real. I strongly believe the revival is happening We have to invest wisely and do a few good things and prepare for the recovery,” he said. Infosys is still open for acquisition opportunities, both geographical and services. He decline to give further information.

In his earlier remarks, Lakshmi Narayanan, Vice Chairman, Cognizant Technology Solutions, said the IT/ITeS industry has the potential to become a $175 billion one by 2020. Investment in research and development is needed. “Eighty per cent of the market is not yet penetrated by the industry,” said Narayanan.

He added the economic crisis calls for a different type of landscape, and the leadership plays an important role in this.

Working capital and credit risks have gone up significantly, added Suresh C Senapaty, executive director and chief financial officer, Wipro. Talent availability will be a challenge and industry should reach 5/5 quality to keep our edge over competition like China, he said.