IT industry will be able to sustain recovery, says Kris

Despite uncertainties in the global economic environment, the IT industry will be able to sustain the recovery, says Kris Gopalakrishnan, CEO & MD of Infosys.

The global financial crisis which started after the Lehman Brothers collapse has created an adverse impact on the economy especially on the Indian IT industry. The possibility of the European sovereign credit crisis ballooning in the region is now slowly raising concerns.

“The recovery from the 2008 was a faster one. The governments of across the globe worked together for the recovery. There was a coordinated effort, and I personally believe that there will also be a concerted effort to overcome the crisis, this time too,” he added.

Due to the crisis in the European continent, the governments and IMF are working jointly and proactively to overcome the current situation. However, the unemployment rate in the US is still huge and there are worries of double-dip recession.

Gopalakrishnan, however, said that the current financial environment in the Europe and the US is not a cause of worry for the Indian IT industry.

“We are watching the development in the West. I don't think anybody can predict the developments. The developments across the globe are a cause for concern, but as of now it has not created an impact on the industry,” added Gopalakrishnan.

He further said, the learnings from the 2008 crisis would help the economy to handle the situation in a much better way.

With emerging technologies such as cloud and mobility, there would be tremendous scope for new business opportunities and creating new jobs, he added.