Nandan Nilekani, co-founder of Infosys Technologies maybe the only one to be bold enough to speak the truth. Nilekani mentioned that the growth in the IT sector will be slower.
Speaking at the World Economic Forum which started in the Indian Capital on Sunday, Nilekani mentioned that, “Growth in the IT sector will be slower”. He also added, “There is an overall slowdown which is understandable given the crisis. When we look at the growth of the 4-5 years that is not going to be reproduced. In the current environment it is definitely not going to be of that nature. I think the IT industry has demonstrated time and again that it is resilient enough to meet the challenges”.
Stating the major IT slowdown during 2001, he mentioned, “We had a similar situation, though not as profound in 2001, but we not only got out of that but took advantage of that. So I am sure the companies are following the right strategies to wait for the things to subside and take advantage of the next cycle of growth.”