PTI

IT to recover in next two quarters: Murthy

Fri, Nov 27 10:02 PM

Mumbai, Nov 27 (PTI) The IT sector would see a recovery from its current downturn in the next two quarters, Infosys Chief Mentor NR Narayana Murthy said here today. "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," Murthy told reporters on the sidelines of an industry conference.

Our corporate sector has been extremely fortunate in escaping the worst of the global financial crisis, he said, adding while America and other Western countries posted sluggish growth rates and witnessed spiralling unemployment, our economy grew 6.8 per cent during the first quarter of this fiscal, up from 5.8 per cent in the fourth quarter of last fiscal. "Despite the relative health of the our economy, we should be mindful of the fact that the danger of an economic downturn here has not yet passed, and the situation can change rapidly," Murthy warned.

"We must be alert and careful to temper our optimism with realism," the Infosys founder said.

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