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According to Infosys CEO, the economic outlook is improving, mergers and acquisitions are gaining momentum.


CEO Salil Parekh said he met with clients at the World Economic Forum in Davos and many of them expressed optimism about the year ahead. He said many continue to move towards adoption and automation of cloud computing despite continued uncertainty about the outlook for 2023.

“We are thinking a lot about what we can do to start acquiring much more actively. The scores are in a range that makes more sense. My overall impression from my conversations with clients this week is that people are pretty positive about the period ahead. … Not all, but certainly the vast majority,” Parekh told Bloomberg News in an interview at the World Economic Forum in Davos.

Infosys last week raised its sales forecast for this year to March, remaining bullish on the need for large customers to automate their systems and cut costs, even as it warned of uncertainty due to the global economic slowdown. But the growth of India’s $227 billion outsourcing industry has now slowed as workers return to the office and fears of a global recession intensify.

Still, Parekh says Infosys remains in a good position. “The big deal line looks strong today, stronger than it did 12 months ago,” he said.

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Sandra Loyd
Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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