The Prime Minister`s Office has
appreciated the steps being taken by the Andhra Pradesh
government to safeguard the Information Technology industry in
the wake of the ongoing political turmoil in the state.
With investors cashing in on
favourable valuations provided by the stock market in the last
three months, as many as nine sectoral indices led by the IT
index outperformed the benchmark Sensex during the period.
Infosys Technologies, India`s second-largest IT services exporter, has bid for more than 10 large government projects in India as part of a drive to lower its dependence on the US market, an official said.
The Indian IT industry, which has grown rapidly due to innovation and low cost products, has not reduced strategic investment despite cutting costs, Infosys Technologies Chief Executive and Managing Director S Gopalakrishnan said.