BANGALORE: The chief executive of Infosys Technologies, India’s second-largest software services exporter, said the business environment remained challenging but there was no move by clients for lower prices.Nasdaq-listed Infosys is finding new business opportunities despite an uncertain global economic environment, S Gopalakrishnan said on Wednesday.

“We see opportunities with existing clients, we see opportunities with new clients,” he said. He also added, “We need to accelerate growth with new clients.”

Last month, Infosys, which develops applications, designs supply chains and offers back-office services, reported a 21 percent rise in quarterly profit but warned of challenging times ahead as its major Western clients battle weakening economies.

Indian outsourcing firms such as Infosys and Tata Consultancy Services are expanding to Europe, Asia, the Middle East and Latin America to cut their dependence on the United States.