Azim Premji asks IT sector to not fall into ‘India Advantage’ trapJune 13th, 2009 - 7:53 pm ICT by ANI
New Delhi, June 13 (ANI): Wipro chief Azim Premji has asked the Indian IT industry to get ready to face the global competition, and not fall into a mind trap of ‘India Advantage’.
“We have talked a lot about India advantage. That makes me extremely worried. It’s a huge amount of thumping on the back (by Indian IT industry),” Premji said at the 5th India Innovation Summit 2009, organized by the Confederation of Indian Industry.
He warned that BPO exports from the Philippines are likely to be pretty close to that of India in year 2009.
Five years ago, BPO exports from the Philippines were probably 10 per cent of what India exported.
That shows that competition is universal and “we just cannot take success for granted”, he said.
The growth of India’s IT exports has come down to 12-14 per cent in 2008-09 from a compounded annual growth rate of 30 per cent-plus till the previous year.
If one went by guidance of leading companies and less-leading ones, growth is going to be a huge challenge in 2009-10, Premji said.
Infosys CEO S Gopalakrishnan seconded Premji: “We have to be always on our toes. We cannot be complacent about the lead we have, we cannot be complacent about competition”. (ANI)
- Don't take 'India advantage' for granted: Azim Premji - Jun 12, 2009
- Premji says European crisis will not affect India, Wipro - May 21, 2010
- For India Inc, worst is over but recovery yet to start - Jun 12, 2009
- India, Philippines can cooperate in agriculture sector - Jul 11, 2012
- IT industry backs Murthy, Premji on policy paralysis - Jun 14, 2012
- Indian BPO sector to grow by 15 percent this year: NASSCOM - Jun 09, 2010
- Wipro investing heavily for next growth wave: Premji - Apr 27, 2011
- Wipro's Premji leads Padma awardees among industrialists - Jan 25, 2011
- India remains second fastest growing economy in services growth - Feb 25, 2011
- India, Asean must move beyond free trade in goods: Delhi Dialogue - Feb 14, 2012
- South Indian Bank opens 30 new branches in a day - Mar 05, 2011
- Indian must reduce dependence on agriculture: Australian study - Oct 24, 2011
- Big Australian dollars to lure Indian tourists - Apr 19, 2012
- Wipro achieves a quarterly profit of 31 percent - Jul 24, 2010
- MFN status will spur Indian tea exports to Pakistan - Oct 25, 2011
Tags: annual growth rate, azim premji, ceo, confederation of indian industry, global competition, gopalakrishnan, guidance, India, infosys, innovation summit, leading companies, mind trap, New Delhi, philippines, previous year, toes