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No retrenchment for K'taka IT employees: TCS, Infosys
Bangalore,
Oct
31:
Great
news
for
the
IT
employees
of
Infosys
Technologies
Ltd
and
Tata
Consultancy
Services
(TCS).
The
two
information
technology
(IT)
majors
have
assured
the
Karnataka
government
that
they
will
not
retrench
any
of
their
employees
in
the
wake
of
the
global
financial
crisis,
a
top
state
government
official
said
Thursday,
Oct
30.
"TCS
and
Infosys
have
clarified
that
they
would
not
layoff
any
of
their
employees
and
their
future
recruitments
would
continue," Ashok
Kumar
C
Manoli,
Principal
Secretary
for
information
technology,
biotechnology
and
science
and
technology
of
the
Karnataka
state
government
told
reporters
on
Thursday,
Oct
30.
The impact of the financial crisis on the IT sector was not alarming but the state government was keeping a close watch on the situation, he said.
Karnataka generates 36 percent of India's IT revenue. "As far as the past six months were concerned, the growth rate in the IT industry remained stagnant at 28 percent but we will be able to get a clearer picture by the end of the year," Manoli said.
According to figures available with Software Technology Parks of India (STPI), Karnataka, the state registered Rs 150 billion IT exports in the first two quarters of 2008 as against Rs 130 billion the previous year.
"If we see the figures, the trend is positive. But yes, the global recession will have some effect on IT and business process outsourcing (BPO) companies. But the figures are yet to come out. So we are waiting and watching the situation carefully," said R Rajalakshmi, director of STPI, Karnataka.
"Urgent measures need to be taken by the industry itself, including cost cutting. The annual IT conclave starting here Nov 6 will deliberate on the strength and weaknesses of the industry and models to redesign its entire working," said Manoli.
Manoli along with Karnataka IT and BT minister Katta Subramanya Naidu were talking to the media on the 11th edition of 'Bangalore IT.Biz', an annual event.
The conclave will bring together IT industry leaders to discuss the impact of the financial crisis on the IT sector and what steps need to be taken to tackle the situation.
"Top
IT
companies
from
around
the
globe
will
be
participating
in
the
meeting.
This
is
an
ideal
time
for
companies,
policy
makers
and
industry
bodies
to
introspect
and
find
out
a
solution
to
overcome
the
economic
slowdown.
And,
more
importantly
set
strategies
for
the
future,"
Manoli
said.
Naidu
assured
his
government's
help
to
the
IT
industry.
"The
state
would
extend
help
to
all
the
IT
companies
to
face
the
current
crisis,"
he
said.
Mexico is a partner country and Gujarat a partner state at the IT.Biz.
A 50-member delegation from Mexico will take part in the IT.biz. Delegations from countries like Germany, Japan, Bavaria, Denmark and Britain will also participate.
The event will include conferences and round table discussions on various issues such as healthcare, telecom, education, cyber and national security, green technologies, geographic information systems (GIS) and special technologies.
Thre will also be an exclusive event by the state government on Rural IT policies as well. A total of 100 companies will display their products and services.
OneIndia
News
