Home » Business » H-1B visa issue won’t affect Indian IT industry’s growth, says Infosys co-founder

H-1B visa issue won’t affect Indian IT industry’s growth, says Infosys co-founder

By |

The industry will mark nine to 10 percent growth, Kris Gopalakrishnan said.

Kris Gopalakrishnan (Courtesy of twitter)

Infosys co-founder Kris Gopalakrishnan on Tuesday said that the uncertainty on the visa front will not affect India’s IT sector in 2017-18, even though, it remains as one of the main challenges.

“The challenge mainly arises because of uncertainties on the visa front (emanating from US),” said former Infosys CEO Gopalakrishan while discussing prospects of IT industry in the new financial year, PTI reported.

“That’s one challenge I see. I don’t see anything particularly different this year except for visa issue. Everything points to a steady growth for Industry,” he told the news agency.

The former President of the Confederation of Indian Industry said that the current fiscal is not going to be the most challenging for the IT industry and the industry will mark nine to 10 percent growth.

“If the global GDP grows around 2-3 per cent, (global) IT investment will grow around 3-5 per cent and Indian IT will grow about 4-5 per cent higher than that. So, it will grow around 9-10 per cent (in 2017-18),” he said.

The tech entrepreneur expressed disagreement over the observation that India is “pleading” with the US on H-1B related issues.

“This is a trade issue. We have certain strengths which we need to leverage. Services is our strength. Having said that, we need to look at new models, we need to look at new models, we need to look at how the industry can transform. I see this happening. Lot more US companies are setting up IT operations in India. So, the companies are shifting to India,” Gopalakrishnan said.

Indian IT engineers also need to move into user industries such as retail manufacturing, healthcare and financial services which require large-scale IT deployment, he added.