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Infosys looks to diversify revenue away from US

Infosys looks to diversify revenue away from US
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First Published: Mon, Sep 13 2010. 04 11 PM IST
Updated: Mon, Sep 13 2010. 04 11 PM IST
Tianjin, China: Infosys Technologies Ltd, India’s No.2 software outsourcing company, aims to diversify its revenue streams after a year during which Europe’s downturn made the company even more reliant on the United States, its CEO said on Monday.
The company aimed to cut the proportion of revenue from the United States to about 40% of overall income over the medium term from 65% now, Chief executive S. Gopalakrishnan told Reuters in an interview on the sidelines of the World Economic Forum in China.
He said Infosys wanted to boost revenue from Europe to about 40% of total income from 20%, while other markets would account for 20%, up from 15%.
“We want to move to 40-40-20 over the next five years,” he said. “That’s the goal for us.”
Gopalakrishnan said clients continued to spend on technology, despite recent reports that spending may be slowing. Although spending had become decidedly short-term, he added.
“Demand continues to be okay,” he said. “What is challenging is that companies are willing to commit for the short-term but not the long term or the medium term. Because of that, it becomes challenging to do medium- to long-term planning.”
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First Published: Mon, Sep 13 2010. 04 11 PM IST