Re rise good for country: Kris

Infosys CEO Kris Gopalakrishnan said that the industry would figure out a way to withstand the challenge posed by the rapid change in the value of the rupee.

He was confident that the IT industry would learn to cope with the appreciating rupee against the dollar if the process was gradual. "However, the rapid change in the value of the rupee is a concern."

Though the appreciation is adversely impacting software exports, Gopalakrishnan believes that "it is good for the country" as imports have become cheaper.

"The rupee appreciation means imports will become cheaper...that too when India needs a lot of infrastructure development. Also, oil becomes cheaper. It is good for the country, but this trend definitely affects exports," he told reporters on Friday.

On speculation that Infosys is interested in acquiring Cap Gemini, Gopalakrishnan dismissed the rumour saying: "The nature of rumours is such that some of them are right and some of them are wrong... you don't know which one is right. It's not possible to comment on rumours floating around.''