"In the medium to long term I am very optimistic about the prospect for the IT industry because technology investment will continue to grow and most of the companies today are looking at India based development centres, captive centres or service providers to support them. The critical mass has already been built in India and so I am very optimistic about the prospects for companies that are both multinationals and domestic companies based in India," said Gopalakrishnan.
According to an ET report, Gopalakrishnan said, "I am positive about the growth of IT industry in the medium to long term. I believe technology investment will grow as most of the companies are eyeing India-based development centres, captive centres or service providers to support them. I am very optimistic for both multinationals and domestic companies based in India. The passing year gives me enough optimism because despite of slowdown in the world economy, the Indian IT industry has done reasonably well."
Talking over the depreciating rupee, he said, "The volatility is always very difficult to handle. In the last 6 months, the rupee has depreciated by 20%, it is unprecedented and such volatility is very difficult for anybody to plan. If you plan to import something, already your costs have gone up by 20%. That is very difficult to plan and factor in. We need less volatility, we need more predictability on rupee movement."