The Indian IT industry will emerge stronger after the slowdown, said Kris Gopalakrishnan, chief executive officer of domestic IT major Infosys Technologies.

"There will be no layoffs in the Indian context and, as said before, we will be recruiting 25,000 people gross. We will make our people prepared for the upturn, which will happen. We are focusing on recruiting people and training them. We are focusing on education as this is a great opportunity to make a positive brand and image for the company. We are still seeing opportunities in the market," Kris Gopalakrishnan said on the sidelines of the India Economic Summit.

He said the slowdown is affecting everyone and that the business is slowing down. From the client's perspective, Kris said that not everything is negative and that Infosys [Get Quote] is a winning business.

He also said that the slowdown was not restricted to the BFSI sector, but was impacting the overall economy. It has impacted retail and manufacturing, said Kris.