Indian IT Industry Set For Slow Down

Friday, April 11, 2008 | | |

The Indian IT-BPO industry is headed for a slowdown in growth this year but is on track to achieve its target of exports worth $60-billion by 2010, industry association Nasscom said on Friday.

“There will be some slowdown but growth will happen. The $60-billion target will be maintained and achieved,” said Nasscom president Som Mittal. Mr Mittal said that the Indian IT-BPO industry needs to grow at 22-23% in future to achieve the $60-billion export target, a rate which could be achieved and exceeded easily.

“There will be 4-6 months of sluggish growth but we don’t think there is any long, deep recession setting in,” said the association’s new chairman Ganesh Natarajan. The Zensar Technologies CEO added that in some cases, slowdown has already led to more outsourcing.

Nasscom vice-chairman and Genpact CEO Pramod Bhasin said there was still lack of clarity over the impact of the slowdown in the US. “The impact will be clearer in the next 3-6 months,” he said.


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