PROFIT-FOCUSED INFOSYS NOW LOOKS TO GROWTH

In a significant change of strategy, India’s second largest software services firm Infosys Technologies Ltd has said it will focus on growth, even if this means lower profitability — a reflection of a tougher business environment where Indian software firms are finding it harder to grow, and a contrarian play for a company that has sometimes walked away from deals that would have meant lower profitability.

MINT

Economy to grow at close to 9% this fiscal

Finance minister P Chidambaram on Monday said that Indian Economy would grow close to 9% in 2007-08. “I am not changing my projections, the growth rate in 2007-08 will be close to 9%,”he told reporters after inaugurating the 1500th branch of Indian Bank. He added that the average growth rate in the last four years has been 8.6%. For 2008-09, too the Chidambaram is setting a target of 9%. “With more investments taking place, we can aim to grow at 9% in 2008-09,”he said, adding that this would require “hard work.”The government also needs to deliver while outlays have to be translated into outcome.

The Financial Express

http://www.financialexpress.com/news/

Economy-to-grow-at-close-to-9-this-fiscal-reiterates-FM/256215/