IT may lose its luster, says Infosys chief

BANGALORE, INDIA: In the backdrop of the global economic meltdown, fresh graduates might find it difficult to get rewarding jobs for the next two years, says Kris Gopalakrishnan, CEO of Infosys.

According to him, the young generation would not find the information technology sector very attractive in the next two years, and asked the fresh graduates to pursue studies.

“Fresh graduates will be affected in the next two years. They may not find the sector very attractive,” he stated while participating in a discussion organized by the Karnataka Government on the impact of global economic meltdown on Karnataka, at the Vidhana Soudha on Thursday.

The Infosys CEO, however, said that no employee would be retrenched. There was still scope for expansion in the IT sector in Karnataka, provided the government improved the investment climate in the State.

Meanwhile, Karnataka IT Principal Secretary Ashok Kumar Manoli said that Tata Consultancy Service also has promised not to retrench any of its employees in the wake of the financial crisis.

He said the impact of the global meltdown on the IT sector in the state is not alarming. According to the data available with the Software Technology Parks of India (STPI), Karnataka has made an IT export for Rs 15,000 crore during the first half of 2008.

However, he agreed that the slowdown will have certain impact on the IT/BPO sectors and some cost-cutting measures would be needed.

He said the IT conclave, BangaloreIT.biz, which begins on November 6, will discuss the strength and weakness of the industry and ways to redesign its working.