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Premji forecasts a bright future for IT sector

By Our Staff Correspondent

Azim Premji, Chairman of Wipro Ltd., with students during an interactive session in Bangalore on Saturday. — Photo: K. Bhagya Prakash

Bangalore Dec. 6. Azim Premji, Chairman of Wipro Ltd., has forecast a bright future for the information technology (IT) sector in the country, and said no other sector is likely to surpass the IT industry's annual growth rate of 25 to 30 per cent in the next decade.

Mr. Premji made the prediction in response to a student's question at an interactive session on Saturday.

The programme, which was organised by the Kodava Samaja Education Council, brought together 450 students from seven schools.

Mr. Premji said that though the IT sector was doing well, companies should be prepared to meet new challenges. "The IT sector will have to match expectations of customer who are increasingly demanding the same quality of goods at lower costs. Secondly, meeting international standards is an imperative. Companies that do not will simply fold up," he added.

In response to students' concerns about the job market, Mr. Premji urged them to consider opportunities in the country. Giving Wipro as an example, he said that five years ago, the percentage of employees leaving to pursue careers overseas was seven per cent. The current figure was only one per cent, he added.

Salaries had gone up in India compared with the rest of the world, and inflation rates had remained stable. Most new recruits at Wipro could afford a high standard of living, Mr. Premji said. However, he warned against complacency, and said: "Only the top 25 per cent of graduates will get jobs without difficulty. It is important that you maintain a competitive edge."

Mr. Premji implied that India needed to keep competition in mind with regards to China. He said: "China is our greatest software competitor. IT is a national priority with huge resources being poured into engineering training institutions. Currently, India is three or four years ahead, but unless we maintain the lead, we will fall behind."

He said that his biggest accomplishment was that he had been able to gain respect from a spectrum of people.

Asked to reveal the secret behind his success, he said: "Hard work."

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