Infy says business is looking good

Infosys Technologies today said it is seeing signs of global recovery and that the company's business has started looking good.

"We are seeing signs of recovery," the NASDAQ-listed firm's CEO and Managing Director S Gopalakrishnan said.

"We are seeing customers becoming more confident. They are now even willing to discuss discretionary projects.

"Nobody believed that we will recover so fast. It's been a surprise development in the last few weeks," he said.

Gopalakrishnan, however, cautioned that one has to see the data for two quarters before one can say for sure if the recovery is for real and can be sustained.

"But, definitely, business is looking good."

On the West Bengal government's scrapping of the IT township in Rajarhat, in North 24 Parganas district, where Infosys and Wipro had plans to set up units, Gopalakrishnan said his company was actually not pushing for land there as it was not looking to expand to new cities due to the slowdown.

He said when the situation improves and if Infosys wants to expand to new cities, it would look at setting up units if the West Bengal government made the offer.