Indian IT Industry can weather the economic slowdown
Talks about a slowdown in growth and job losses have become ubiquitous, with reports of unemployment and factory shutdowns make front page news often.
According to Sunil Kilaru, CEO of PRIMUS Global Technologies, a Bangalore based IT Services firm, slowdown India's IT sector has been an exception, and the sector will be able to weather it well.
However the question is whether this slowdown may impact IT services going forward. He also said that Indian IT firms are highly profitable and are mostly zero debt with lot of cash in their balance sheet. In addition, they also have the experience of having faced multiple downturns in the 90s and the first decade of the century.
Mr. Sunil Kilaru stated that the IT sector is also not affected by the decline in growth in the country due to factors such non-performing assets, which has dried up the credit. This has affected the sectors that are geared towards the end-consumer such as our automotive and real estate peers, which are also one of the largest employers. For IT, revenue from the domestic market is small and does not impact them. For most IT services firms in India, revenue from India operations account for about less than 10 percent of the overall revenue.
About Sunil Kilaru:
Sunil Kilaru is an Entrepreneur based out of Bangalore, India focusing on two verticals - IT and Real Estate.
Sunil is the Founder Director & Promoter for PRIME Living. PRIME Living focuses on developing various Commercial and Residential Real Estate Ventures in Bangalore and Hyderabad.
Sunil is the Chairman and CEO of PRIMUS Global Technologies Pvt. Ltd. Under the Leadership of Sunil, PRIMUS acquired XT global’s India IT consulting division, Sarayu Telecom & Cafezee.
Prior to PRIMUS, Sunil was Vice President responsible for Professional Services of IPELION, a Dallas based Software Solutions Company.
Prior to getting into Management, Sunil was an IT Architect for Hitachi Consulting. At Hitachi, he was a Technical Project Manager for Hitachi’s Oracle Practice. His responsibilities included implementing Onsite/Offshore Oracle ERP solutions for Hitachi’s Clients like Haggar Clothing, AECOM, IHOP, Tekelec, etc. Prior to that Sunil was a Senior Consultant for the Technology group at Whittman-Hart, Inc. He has extensive experience in designing, building, developing and integrating various Web/ERP/Client-Server based applications for the fortune 500 clients of Whittman-Hart. Sunil was the first employee of Whittman-Hart Dallas office before it grew into a 10,000 strong consulting firm. Sunil helped the Dallas office of Whittman-Hart in getting a good client base with his extensive contacts during the initial phase. Sunil was involved in designing and developing IT solutions for client's like American Airlines, i2, 3M, InterVoice, Silicon Graphics, Aimco, Westin Resorts, and Warrantech.
Sunil has an MBA in IT & Finance from The University of Dallas, M.S in Computer Science from the University of Texas at Arlington and a Bachelors degree in Mechanical Engineering from Nagarjuna University.
Sunil is involved in various NGO’s like Truth Labs, Crime Stoppers India and Genome Foundation.