The Indian IT industry is likely to witness a 3-4 per cent dip in growth in the current financial year as against a 28 per cent growth it achieved in the previous financial year, according to the National Association of Software and Services Companies (Nasscom).
clipped from www.rediff.com
Indian IT growth to slow down by 3-4%: Nasscom

The Indian IT industry is likely to witness a 3-4 per cent dip in growth in the current financial year as against a 28 per cent growth it achieved in the previous financial year, according to the National Association of Software and Services Companies (Nasscom).

The projected fall has been attributed to the US economic slowdown and the rise in international oil prices. Accordingly, the industry growth has been pegged at around 24 per cent for FY09.

In FY08, total revenues including hardware were $48 billion which are expected to touch $64 billion in FY09.

The total software and services revenue was $39.5 billion in FY08 and expected to touch $52 billion in FY09. Of this, export is expected to cross $40.3 billion as against $31.3 billion in FY08. But the $40.3 billion target has now become somewhat difficult due to global economic changes.