Govt spending on IT expected to grow by 40%: Infosys

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Government IT spending was expected to grow by 40% supported by a 20% growth of the Indian market this year said, leading information technology company, Infosys ' Chief Executive Officer, S Gopalakrishnan. In an exclusive interview with CNBC-TV18, he said that the company was in talks with the government for four to five deals.

Further, he went on to say that domestic banks were increasing their IT spend significantly. "The banking sector has upped its IT spends by 50% for the year."

The placement season has seen quite a vibrant start with most of the IIMs placing a majority of their students with attractive packages. Commenting on the company's hiring scenario, Gopalakrishnan said Infosys would be employing 20,000 freshers from campus for 2010.

IT companies, Gopalakrishnan said, were vulnerable to online hacking frauds. Therefore Infosys was beefing up its online security post Wipro fraud, he added.