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IT exports to be higher than anticipated: Infy CEO

IT exports to be higher than anticipated: Infy CEO
PTI
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First Published: Thu, Oct 28 2010. 02 40 PM IST
Updated: Thu, Oct 28 2010. 02 40 PM IST
Bangalore: IT exports this fiscal would be higher than anticipated, given the strong second quarter numbers posted by some big companies, Infosys Technologies CEO S Gopalakrishnan said on Thursday.
IT exports are estimated to grow between 13% and 15% in 2010-11, up from about 5% in the previous year, he said.
“I believe that given the strong performance in the second quarter by the Indian (IT) companies, this number probably will get revised upwards,” Gopalakrishnan said at IT.Biz, an annual, state-sponsored event in Bangalore.
TCS and Infosys, India’s top two software exporters, posted robust second quarter performance, with double digit sequential revenue growth.
“Overall, the IT-BPO industry is expected to touch around $71.7 billion this year, accounting for about 5.8% of our GDP”, Gopalakrishnan said.
He said the IT industry would create 1.5 lakh to 1.7 lakh jobs in the current fiscal. “This is only assuming growth is around 10%”.
Noting that currently seven cities account for 90% of the Indian IT export revenue, Gopalakrishnan said it’s good to know the sector is spreading its footprint in Tier II and III cities.
He said the focus is to create about 43 new locations to ensure they become the next IT-ITeS hubs around the country to meet the growth demand and near saturation levels in Tier-I cities.
He said 40% of new employees of Infosys are from rural families where one or both their parents have not completed the tenth standard.
Infrastructure growth in Tier-I cities is absolutely essential for the IT sector to sustain high-growth as development in Tier II and III cities would be at a lower rate, Gopalakrishnan said.
“There is no doubt that these are exciting times for the industry. I believe the future is bright and holds new promises and we - the government and the industry - have to work together to leverage its full potential,” he added.
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First Published: Thu, Oct 28 2010. 02 40 PM IST