Click to play videoNew Delhi: Global slowdown, volatile forex and now the Satyam scam- not the best of times for India's IT companies.
So when Infosys reported a handsome growth of 35 per cent in the third quarter it came as a positive surprise. But the management made it clear that the going is not going to be easy.
‘‘Some clients are looking to freeze their budgets but clearer picture will come in Feb when most clients will freeze their budgets,'' says CEO & MD, Infosys, Kris Gopalakrishnan.
Sales are already down and the company has put a freeze on hiring.
''We had said we would hire 25,000, now that is 27,000. We have hired people whom we have made commitments and we are hiring only few specialists,” says Head, HR & Admin, Infosys, T.V. Mohandas Pai.
But Infosys mentor Narayana Murthy says there is hope and future for India's IT sector.
''No panic in the sector, entire IT industry is not at major risk, Indian IT sector will survive these tough times in next 8-9 months, will again flourish,'' says Chief Mentor, Infosys, Narayan Murthy.
All eyes will now be on TCS and Wipro results coming out soon to get a better picture of the IT sector.
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