11-06-2003, 04:05 AM
Our focus is on exports, not Indian market: Infosys [url="http://inhome.rediff.com/money/2003/nov/05infy.htm"]http://inhome.rediff.com/money/2003/nov/05infy.htm[/url]
Software major Infosys Technologies is not looking at the domestic market except for its banking product 'Finacle' as it feels it gets better returns from the export of software services in the international market.
"When you have limited resources, you have to leverage them with where you get the best returns. Today those returns are coming from markets outside India. That is really the reason why we are not focused on the Indian market other than for banking business," Infosys co-founder and director, S Gopalakrishnan said in an interview.
Incidentally, Finacle came out of the Nasdaq-listed firm's India strategy in 1989.
"We realised that in India we will have a product strategy and entered the banking sector. We felt that the banking sector will be the one that will automate first and will try to become globally competitive. Of course, it also had the money to invest," Gopalakrishnan, who is also the chief operating officer of Infosys, said.
Indian revenues account for less than 2 per cent for the export-focused Infosys, and earns nearly 74 per cent from the huge United States market.
Although the Indian market was maturing very fast by leveraging IT, it was not yet to the level of global market, he said.
"It is matured today. But in terms of the returns from the market, there is a difference at this point. And we see that we get better returns from outside India," Gopalakrishnan said.
Software major Infosys Technologies is not looking at the domestic market except for its banking product 'Finacle' as it feels it gets better returns from the export of software services in the international market.
"When you have limited resources, you have to leverage them with where you get the best returns. Today those returns are coming from markets outside India. That is really the reason why we are not focused on the Indian market other than for banking business," Infosys co-founder and director, S Gopalakrishnan said in an interview.
Incidentally, Finacle came out of the Nasdaq-listed firm's India strategy in 1989.
"We realised that in India we will have a product strategy and entered the banking sector. We felt that the banking sector will be the one that will automate first and will try to become globally competitive. Of course, it also had the money to invest," Gopalakrishnan, who is also the chief operating officer of Infosys, said.
Indian revenues account for less than 2 per cent for the export-focused Infosys, and earns nearly 74 per cent from the huge United States market.
Although the Indian market was maturing very fast by leveraging IT, it was not yet to the level of global market, he said.
"It is matured today. But in terms of the returns from the market, there is a difference at this point. And we see that we get better returns from outside India," Gopalakrishnan said.