Another Recession to hit India, IT world, hints Infosys

Bangalore, Nov 22: Another Recession may hit India and its Information Technology (IT) sector soon. The latest statement on the recession came when the executive co-chairman of IT-giant Infosys, S Gopalakrishnan hinted that another recession may leave a profound impact on Indian IT industry if economic crisis in US and in European countries continue.

However, Gopalakrishnan claimed that the impact of the global economic crisis will not be as profound as it was in 2008. "There is some impact (of slowdown in Europe and US) but it is not as bad as it was in 2008. I hope it stays like this and does not become worse," said the executive co-chairman of the IT giant.

Eying on higher growth of the company, Infosys, as Mr Gopalakrishnan said, is looking at investing in Intellectual Properties and product solutions to offer variety of technology solutions.

Talking about the latent prosperity in the Indian IT industry, Mr Gopalakrishnan also claimed, "It is very much feasible that the size of IT industry could grow from $65 billion to $220 billion in next 8-10 years. There is still innovation in IT sector like cloud computing, mobile applications etc."

OneIndia News