IT sector to recover in next two quarters: Narayana Murthy
The IT sector would see a recovery from its current downturn in the next two quarters, a top industry official said.business Updated: Nov 27, 2009 21:45 IST
The IT sector would see a recovery from its current downturn in the next two quarters, a top industry official said.
"There is a sign of recovery in the IT sector and I believe in the next two quarters there would be a positive sign for the sector," Infosys' Chief Mentor, N R Narayana Murthy, told reporters on the sidelines of an industry conference in Mumbai on Friday.
The Indian corporate sector has been extremely fortunate in escaping the worst of the global financial crisis, he said.
While America and other western countries posted sluggish growth rates and witnessed spiraling unemployment, India's economy grew 6.8 per cent during the financial quarter in June, up from 5.8 per cent in the previous quarter, he said.
"Despite the relative health of the Indian economy, we should be mindful of the fact that the danger of an economic downturn in India has not yet passed, and the situation could change rapidly," Murthy warned.