- Infosys founder Narayana Murthy sees tech layoffs in the US as an opportunity for India.
- “I see these things [such as tech layoffs] As part of the business cycle. The curve goes up and down, up and down. So I wouldn’t worry too much,” Mercy told CNBC’s conversation.
- He said India stands to gain if the US and other advanced economies hit a recession.
Infosys founder Narayana Murthy sees tech layoffs in the US as an opportunity for India.
“I see these things [such as tech layoffs] As part of the business cycle. The curve goes up and down, up and down. So I wouldn’t worry too much,” Mercy told CNBC’s conversation.
Indian IT companies are concerned that a slowdown in the US economy may cause US companies to cut back on technology spending and projects in India, but Murthy said Indian IT companies will instead seek to cut profits. He said he was in a position to get it.
“Whenever there’s a recession in the US or in the developed world, there’s a bigger chance in countries like India, especially in my sector, to offer good value for money,” Murthy told CNBC’s Thanbir Gill.
“In a recession, the market shrinks a bit and our charter is very clear. .
Sometimes called the father of India’s IT sector, Murthy founded Infosys in 1981 with six friends. From 1981 until 2002 he served as CEO.
Funded with an initial investment of $250 from Murthy’s wife, Infosys has grown into a multi-billion dollar company worth over $60 billion.
India’s second largest IT company employs over 346,000 people worldwide, from Asia Pacific to North America, Europe and the Middle East.
Krina Mehta, co-founder of US-based offshore software development company Fortune Infosys, said many companies choose to outsource their software development to India, achieving high quality at low cost. I’m here. LinkedIn post.
“By working together [Indian developers]gives us access to quality IT professionals at a fairly reasonable cost compared to the prices we have to pay in the West,” Mehta said.
Other American and European companies are also coming. So I think our opportunity will come in the next few years.
Narayana Marty
Founder, Infosys
According to Mehta, India has a talent pool full of skilled software developers who have developed a wide range of technical specialties, from related and core technologies such as Python programming to emerging enterprise technologies such as .NET Core.
According to custom software development company Peerbits, companies can: 20% to 30% savings on technology spend By offshoring your custom software development needs to India.
“The lesson for U.S. companies is to increase productivity and automatically reduce costs without relying on countries like India and China. I think that is the way forward,” Marty said. said.
According to Murthy, many American companies such as General Electric and Microsoft have established R&D centers in India.
“There are other American and European companies coming, so I think our opportunities will come in the next few years,” Murthy said.
“India’s leadership under Prime Minister Sri Narendra Modi has launched a number of initiatives such as ‘Startup India’ to ensure the country becomes a source of innovation,” said Murti. said.
