Macro-economic environment continues to be volatile: Premji

IT major Wipro today warned that the global macro economic environment continues to be volatile, giving the sector "some kind of uncertainty" over future growth.

"The macro environment continues to be volatile. This continues to give some kind of uncertainty...", Azim Premji, the Chairman of Wipro --India's third largest software exporter listed on New York Stock Exchange-- told reporters.

Premji referred to the financial crisis in Greece, Spain, Italy and Portugal, and the political uncertainty over raising debt ceiling in the United States to avoid sovereign debt default as concerns afflicting the sector.

He said the market has already digested a high rate of unemployment in the US and it is not a factor that would significantly make an impact on the business macro environment.

The Wipro Chairman said IT business environment continued to be strong. He pointed towards the seven per cent growth forecast for the sector by leading IT research and advisory company Gartner.

"In the IT business, we are not seeing any change in decision-making cycle...no specific, significant delays", he added.