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Indian IT sector back on growth path: Kris

Indian IT sector back on growth path: Kris
PTI
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First Published: Sun, Jan 23 2011. 12 31 PM IST
Updated: Sun, Jan 23 2011. 12 32 PM IST
Thiruvananthapuram: Infosys Technologies Ltd CEO Kris Gopalakrishnan has said IT sector in India is in another growth phase.
“In 2008, the industry saw growth coming down to single digits. Most IT companies stopped hiring employees and stopped expanding. Fortunately, growth is back and most companies are hiring in large numbers again. The top five companies are estimated to hire 1,60,000 to 1,80,000 new employees in the next 12 months,” he said.
Goapalakrishnan was delivering the keynote address on ‘Sustainable Development Strategies for the Capital City (Thiruvananthapuram)´at a discussion organized by College of Architecture in Thiruvananthapuram on Saturday evening.
“IT industry has grown fast over the last 15 years. For example, the industry had about 1,50,000 employees in 1993, around 5,00,000 employees in 1999 and today, the industry employs around 2 million employees,” Kris said.
Multinational corporations are also looking to India to expand their markets and to create back office function and many of them are looking at tier 2 and tier 3 cities to expand, he said.
Emphasizing the significance of infrastructure development in the growth of these cities, he said an effective mechanism is essential to implement various development strategies.
“Industry bodies, relevant non governmental organizations, civic bodies must all have a role to play. For example, industry bodies will be able to mobilize participation by experts. Industry will be able to provide project and programme management expertise. Civic leaders will be able to mobilize public opinion. Thus i believe there is a higher chance of the initiatives getting implemented,” Kris said.
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First Published: Sun, Jan 23 2011. 12 31 PM IST
More Topics: IT Sector | Kris Gopalakrishnan | Infosys | Wipro | TCS |