The recession hit IT industry would show positive signs of recovery bymid-2010 and Infosys will diversify into new markets then, a top ITcompany official said.

On economic slowdown Infosys chief executive and managing director KrisGopalakrishnan told reporters, "It is better to wait and understand thatthe recovery is real and will sustain. The developed countries have higherGDPs, so they will have a significant impact on recovery."

Infosys is looking at new markets like China, Middle East, South America andLatin America with a host of new services.

"We have launched various new services like software as a service platformfor BPO industry. The opportunities which we are looking into are in healthcare, utility services, government and public sector. There are opportunitiesin each one of them", he said.

Gopalakrishnan was here to participate in the sixth edition of HR-summit 2009,organised by NASSCOM. On RBI's review projecting a 6.5 economic growth, hesaid, "I believe especially for India, growth (is) coming back. India hasnot been much affected (due to the meltdown)".

He said despite the country's growth rate coming down from 8-9 per cent to 5-6per cent now, it (growth) was starting to pick up, which is a good sign forIndia. "This will also be a signal to other countries to start seeing somerecovery."

He said Infosys was also ready for acquisition across various geographies."We are open for geographical acquisitions as well as service basedacquisitions. The key is, it should happen at the right place at righttime."