IT industry will come out stronger: Infy

The Indian IT industry will emerge stronger after the slowdown, said the chief executive officer of domestic IT major Infosys Technologies.

"There will be no layoffs in the Indian context and as said before, we will be recruiting 25,000 people gross. We will make our people prepared for the upturn, which will happen. We are focusing on recruiting people and training them. We are focusing on education as this is a great opportunity to make a positive brand and image for the company. We are still seeing opportunities in the market," he said on the sidelines of the India Economic Summit.

He said the slowdown is affecting everyone and that the business is slowing down. From the client's perspective, Kris said that not everything is negative and that Infosys is winning business.

He also said that the slowdown was not restricted to the BFSI sector, but was impacting the overall economy. It has impacted retail and manufacturing, said Kris.

On being asked if the company was seeing any pricing pressures, the CEO said that there is no trend in the pricing and billing pressures because the domestic IT industry is based on a global delivery model and has reached a certain scale, maturity and strength apart from a good set of clients.