'Indian IT to be worth $300 bn in a decade'

AHMEDABAD, INDIA: India's IT sector will grow to $300 billion in a decade if its expansion covers tier-I and II towns and cities in India, N.R. Narayana Murthy, chairman and chief mentor of Infosys, said on Monday.

Talking to mediapersons after a function at Ahmedabad University, Murthy said a recent McKinsey report had brought out the huge potential in the sector.

But there was a need for a forward looking approach by the industry and for the government to straighten out policy curves.

He said corruption thrived at the cost of merit and had a spiral effect.

"It has reduced the inflow of foreign direct investment (FDI) and must be countered with positive steps, which the government is taking."