Wipro to see double-digit growth in coming years: Azim Premji

Wipro Chairman Azim Premji painted a picture of confidence at the company's Annual General Meeting on Thursday, saying the IT major is poised for double-digit growth in the coming years.

"Wipro can achieve growth levels in double-digits of at least 15 per cent in US dollar terms in the coming years as the US market is on path to recovery and there is an uptick in consumer sentiment," Premji said.

Wipro is expected to announce its first quarter earnings on Friday. Peer Tata Consultancy Services had posted 16 per cent growth in Q1 profit, while Infosys posted a better-than-expected 3.7 per cent growth.

Premji hinted at consumer sentiment picking up around the world, saying the US market is looking better than what it was 3-4 months ago.

"The equity markets are also much better now... Besides, the Middle-East market is also looking good... European markets are more or less flat," he said, adding that he is neither pessimistic or optimistic about it.

Premji, however, sounded an alert on the Indian economy, saying the "picture in India is not, however, conducive".

He said demand environment in India is not encouraging and the market is not in a good shape. There is a "general sense of indecision on the policy front, which in turn is affecting businesses leading to big projects getting stalled".

Premji said he is hoping that there will be stable workable conditions after the general elections next year.

The leader of one of India's leading software services company also said that before the next annual general meeting, the company will have a woman director on board.

With inputs from PTI