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Global recovery may be slow: Narayana Murthy

Bangalore: Infosys Technologies Chairman N R Narayana Murthy has said the recovery from the global financial crisis might be slow and weak.

Murthy said the early signs of an emergence from the global recession cannot be taken for granted, and the threat from highly leveraged economies cannot be ignored.

“Well, because the whole situation is still in fluid, that’s why I said guarded optimism. We see some signs of positivism, we see some signs of concern,” he said at the company’s annual shareholders meeting in Chennai on Saturday.

Commenting on the performances of Infosys subsidiaries, Infosys Technologies CEO S Balakrishnan said consulting business, which was for long making losses, is profitable now. Infosys China continues to do well, with around 1,700 employees and Rs 43 crore profits.

“No, as Mr. Balakrishnan said, at this point of time, we do not see any impact on us, but, who knows, you know, it depends on how did we cascade and what impact it will have on the corporations and their ID budgets, so it’s difficult to say anything,” said Murthy.

Infosys Technologies is the second ranked Indian software firm.

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