The Hindu : Business : Infosys CEO upbeat on IT industry

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Infosys CEO upbeat on IT industry

Special Correspondent

Explosive growth of Internet is going to happen through various devices

Kris Gopalakrishnan

HYDERABAD: Information Technology business is actually beginning to take off in India and the future is very bright, according to Kris Gopalakrishnan, CEO and Managing Director of Infosys Technologies.

The IT industry has passed through five slowdowns since 1987 and remained unscathed. It proved to be highly resilient and India has the largest number of CMM level 5 companies in the world. “You may be getting a feeling that Indian IT industry is on a downward trend.”

“The industry is still highly profitable. We have not fully understood and adopted IT. We are in a very early stage. When change happens for that business, the models have to change. The future to me looks very very wide open,” he said.

Delivering the keynote address at an international symposium on information systems organised by the Indian School of Business (ISB) here on Friday, Mr. Gopalakrishnan unveiled the genesis of the IT industry in India and the growth of Infosys. Productivity improvement was significant. The technology moved from mainframe computers to mobile phones, but the change was not over.

The explosive growth of Internet was going to happen through various devices. “Many companies have done extremely well going through the technology changes.” While many other businesses were focussed internally, the focus had been global for the IT industry from day one.

From a $10-million company with 300 employees in 1993, Infosys had grown to become a company with one lakh employees and diversified into offering solutions to diverse industries.

Indian companies had been offering software solutions to diverse businesses and they were after a trillion-dollar business.

Of the top three, two core banking solutions were offered by Indian companies. Similarly, of the two travel solutions, one was from India and the top payment gateway was from India.

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