Global financial recovery may be slow: Narayana Murthy
Bangalore: Infosys Technologies Chairman N. R. Narayana Murthy has said the recovery from the global financial crisis might be slow and weak. Murthy said
the early signs of an emergence from the global recession cannot be taken for
granted, and the threat from highly leveraged economies cannot be ignored. "Well,
because the whole situation is still in fluid, that's why I said guarded optimism.
We see some signs of positivism, we see some signs of concern," he said at the
company's annual shareholders meeting in Chennai on Saturday. Commenting on the
performances of Infosys subsidiaries, Infosys Technologies CEO S Balakrishnan
said consulting business, which was for long making losses, is profitable now.
Infosys China continues to do well, with around 1,700 employees and Rs 43 crore
profits. "No, as Mr. Balakrishnan said, at this point of time, we do not see any
impact on us, but, who knows, you know, it depends on how did we cascade and what
impact it will have on the corporations and their ID budgets, so it's difficult
to say anything," said Murthy. Infosys Technologies is the second ranked Indian
software firm.
