Infosys targets europe for cost cut
Infosys is increasing its exposure to Europe and other regions, besides cutting costs to manage the impact of rupee appreciation against the US doller, the software giant’s chief mentor N.R.Narayana Murthy has said.
Narayana Murthy said that they had been enhancing contribution from Europe and other areas of the world. He said Europe formed 27% of their total revenue when it was 18 percent five years ago. The US, however, remains the most significant market for the country’s second-biggest software exporter. He said that US was the market which belives in innovation in technology, so they did not regret their dependence on that.
Narayana Murthy also said the appreciation in rupee value against the doller was hurting the software companies, including Infosys. The rupee has risen more than 12 percent against the greenback since the beginning of 2007.
Mr.Murthy dismissed fears of any backlash against Indian firms in the US with the presidential elections approaching.
