Wage inflation will not blunt the country's competitive edge in the IT industry, according to software guru and chairman of Infosys, N R Narayana Murthy.
Murthy's NASDAQ-listed company Infosys Technologies Ltd announced last week that pay for entry-level employees would be increased from the current Rs 240,000 per annum to Rs 270,000 from April next year.
"Wage inflation is not going to matter that significantly in my industry because the rupee is getting devalued constantly," Murthy told PTI in Bangalore.
The devaluation of the currency coupled with India adding more value to its customers and getting better realisation and prices would see that wage inflation, which is a hot topic among industry players as companies scramble to hire best talent in huge numbers, is not an issue.
An India Salary Guide 2006 released by a global provider of staffing services and solutions last month said IT, ITeS, telecom and pharma were leading the pack when it came to high salaries.
In fact, employees in the information technology-enabled services industry received the highest increase at 17.9 per cent, it said.
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