'India faces stiff challenge in IT, BPO sector'

At a conference on "India: Knowledge and Professional Services Hub to the World - The Next Decade" here on Tuesday, Murthy, however, reiterated that the country was still the most preferred destination for global IT giants to set up their outsourcing business because of excellent intellectual capital, cost advantage, well-trained manpower and the ability to provide services on a large scale.  

Murthy said IT infrastructure should be taken from metros to other parts of India for a more holistic growth.

The IT industry will hire 1.2-1.5 lakh workers in 2010-11 with Infosys Technologies alone hiring 25,000 people.

Announcing this, Kris Gopalaakrishnan, CEO and MD, Infosys, projected the IT industry's net worth to more than double at $150 billion in the next ten years provided the growth rate remains consistent at 10 percent.

On the occasion, the CEO of India's second largest IT Company, also noted the importance of cloud computing which refers to internet-based computing where shared resources, software, and information are provided to computers and other devices on demand.

The conference, organised by the All India Management Association (AIMA) focussed on creating a road map to use the opportunities and face the challenges to the IT industry. DH News Service