Krish Gopalakrishnan - IT Export growth may be 7-9 percent
Posted on: 13/Sep/2016 4:00:16 PM
One of the founders of the leading Information Technology company Infosys and a senior official, Mr. Krish Gopalakrishnan informed a News Agency that the expected export growth in the current financial year in IT sector would be in the single digit of 7-9 percent.
NASSCOM (National Association Chamber of Commerce had earlier estimated that IT export growth to be in the region of 10-12 percent. Krish Gopalakrishnan, while noting this, informed that it is his expectation that the growth would be in the region of 7-9 percent only but it is not estimated.
He informed that as compared to the year 2003, the financial year 2016-17 is not as challenging for the industry sector. Viewed from a short-term range, It industry would be facing ups and downs. This would be reflected based on the customers’ requirement and coordination.
Currently, though the Indian IT Companies are facing a challenging and competitive market, they have been earning good profit and has been registering good growth. Though the extent of growth is less as compared to previous years, the It industry is still; on the growing trend.
He informed that the effect of BREXIT would be known only after the next 2-3 years.
Job opportunities are lowering in the IT industry. The main reason for this is the Automation Technology, Artificial Intelligence, and Robotics. This is reflected in the job opportunity environment.
In the medium and long range outlook, there is a possibility to regain the old growth rates.
The current revenue of IT revenue stands at US Dollars 15000 Crores.(Out of this, US Dollar 12000 Crores is from IT Exports). In this setup, a growth of 7-8 percent is significant. In terms of revenue, the growth may be around US Dollars 1000 Crores. This is good enough to create 1 Lakh job opportunities.
From the prospects of medium and long-range viewpoint, there are bright avenues for growth in the IT segment. IT industry has faced a similar challenging situation in the year 2008. So, this establishes that the IT industry would have a growing trend in the future.
