On the sidelines of a CII event, Kri Gopalakrishnan Co-Founder and Executive Co-Chairman of Infosys reportedly said that IT outsourcing spend is starting to come back.
The discretionary spending, which forms the bulk of outsourcing business for Indian IT companies, is making a comeback in the US, says Gopalakrishnan.
Kri Gopalakrishnan also reported that North America accounts for more than 70% of revenues in the $100-billion Indian IT sector.
According to Nasscom estimates, the Indian IT sector will grow at 11-14 per cent, which is less than the 16.7% it clocked in FY12.