Exploit slowdown in U.S. economy: Krishna

By Our Staff Reporter

KOCHI, MAY 6. The Karnataka Chief Minister, Mr. S.M. Krishna, feels that the slowdown in the U.S. economy hitting the IT industry worldwide is a great opportunity for South India.

At a `Meet-the-Press' here on Sunday, Mr. Krishna said the four southern States plus Maharashtra, which were in the forefront of the IT industry in the country, could exploit this situation. He compared the situation with the Korea of the 1970s which made use of the then recession in the global economy, particularly that of the U.S.

The Congress Chief Minister, who is currently on a campaign tour of Kerala, said the State had everything to go for a great IT future, except an administrative orientation. The UDF, which in its poll manifesto had promised to give a boost to the IT industry in Kerala, would give the right direction and orientation, he said.

He claimed that the U.S. slowdown had not affected the IT industry in his State, which is considered the Silicon Valley of India. He noted that in the last financial year, his State had exported Rs. 7,300 crores worth of IT products and the projection for this year was Rs. 11,300 crores. Mr. Krishna claimed that every month at least two new IT companies were being set up in Bangalore.

He said the UDF welcomed votes of all sections of the people, including the BJP. ``As far as votes are concerned, there is no untouchability,'' he remarked.

Asked about the demand for the reunification of Kasaragod with Karnataka, Mr. Krishna said his Government stood by the report of the Mahajan Committee. However, he would not like to rake up the issue as his Government's focus right now was on the economy and on how to give water and electricity to the people.

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