IT sector to see better growth, create more jobs in 2013: Infosys

IT sector to see better growth, create more jobs in 2013: Infosys
Davos:  Enthused by the improving global economic scenario and a renewed wave of reforms back in India, IT giant Infosys says it is bullish over better growth prospects of the IT sector in 2013, and expects greater job creation this year.

"I believe that 2013 will be better than 2012 for the IT sector as considerable uncertainties globally have been removed, the US elections are over, Europe is not going to split and people believe that it is going to stay together," Infosys co-founder and executive co-chairman S Gopalakrishnan said.

Kris, as he is known, is in Davos, along with the top executives of a host of other Indian IT firms such as TCS, Wipro, HCL and Mahindra Satyam-Tech Mahindra, for the annual meeting of the World Economic Forum.

"When I say 2013 is going to be better, it means growth opportunities for the Indian IT industry are going to be better," he said.

"This also means more jobs will be created by the industry; 25 lakh people are currently employed by the IT industry. Even if you look at a 10 per cent growth, then you are looking at 2-2.5 lakh additional people being hired by the industry and that is very good."

Mr Gopalakrishnan said a clearer picture will emerge after Infosys and other IT firms announce their full fiscal results for 2012-13.

About the broader economic scenario, Mr Gopalakrishnan said, "Reforms that have happened in the last few months have improved
sentiment, increased confidence, and I expect growth to reach 7 per cent or more in 2013."

"This is a right signal to the investment community that we continue to emphasise on economic growth and on attracting investment and continue to focus on making sure that jobs are created with economic growth."

Mr Gopalakrishnan, along with N R Narayana Murthy and five others, founded Infosys in 1981. He has served as director (technical) and his initial responsibilities included the management of design,
development, implementation, and support of information systems for clients in the consumer products industry in the US.

Infosys on January 11, beat market expectations with its December quarter results and also raised dollar revenue guidance for the fiscal ending March 31, while the country's largest software services firm TCS also beat forecasts and said it was very confident heading into the new year.

Wipro, the country's third largest software services firm, beat market expectations by posting an 18 per cent gain in net profit at Rs 1,716 crore for the October-December quarter, and HCL Technologies beat market estimates with a 68.4 per cent jump in quarterly profit.

According to research firm Gartner, spending on IT services will grow 5.2 per cent to $927 billion in 2013,
compared with a growth of 1.8 per cent in 2012.


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