Speaking at ITL's annual general meeting in Bangalore on Saturday Murthy said, ``e-commerce is the vehicle for growth in the next millennium and ITL is intend to focus on this growing opportunity in the future. Most of our growth in the future is likely to come from the mainstream services of development, re-engineering and maintenance. Internet, package implementation, engineering and telecom services will be given more attention in the future.''

He said prudent risk management was the key requirement for any global business and it was an integral part of ITL's future business strategy. ITL has made significant investments in physical and technological infrastructure, tools,mathologies and processes to fine-tune concurrent, distributed development modules of the company's global delivery model, he added.

At the AGM, ITL has received shareholders' approval for its employee stock option plan (ESOPs). As per Sebi regulations, ITL has created a new ESOP for the grant of options for upto 33 lakh new equity shares. These shares would be issued over a period of five years.

Responding to a shareholders demand for splitting the ITL stocks into smaller shares to make them more viable Murthy said, ``We will make an analysis on this regard and based on the collective wisdom we will take a decision.'' Following the examples of Wipro and few other corporates, ITL might split its stocks into smaller shares of Rs 2 or even Rs 1 from the current value of Rs 10. The ITL has decided to contribute Rs 50 lakh towards relief and rehabilitation of Indian armed force. ``The board and employees of the company have decided to make a contribution for the Indian armed force personnel who are involvedin the Kargil operations,'' he said.