IT sector to grow 25 per cent: Narayana Murthy

IT bellweather, Infosys' chairman Narayana Murthy says he expects the IT sector to grow 25-26 per cent. He said the Indian IT sector was currently performing well and would experience an annual growth of 24-26 per cent.

Murthy, was attending a ceremony to mark the 114th anniversary of Netaji Shubhas Chandra Bose, in Kolkata. He said, "Under the current circumstances, it is performing well. Overall, things are fine. Our annualised growth will be 25-26 per cent, and that is pretty good."

"The sector draws a revenue of $5 billion, and if we can grow at 25 percent, that's not bad," added Murthy.

Responding to a question about US president Barack Obama's remark, he said, "Say no to Bangalore and yes to Buffalo", Murthy said the comments were symbolic of the foreign community's growing respect for Indian industry.

He said when the US president talked about Bangalore that signified a certain amount of respect.

Lamenting that the fact that Netaji Shbhas Chandra Bose had not been given due recognition for his contribution to the country, Murthy said, "We have not paid him due respect. It is time this is corrected."