London: Growth in India's information technology sector will slow due to a Western slowdown but should still reach 22 to 24 per cent this financial year against 28 per cent last year, the president of India's National Association of Software and Service Companies (NASSCOM), Som Mittal said.
Mittal told Reuters domestic growth of 28 to 30 per cent in the industry would help support the sector, which now employs some 2 million people across India.
"When we look at this downturn we think it is probably shallow at this point," he said in a telephone interview. "Based on what we have seen from companies so far we still think we will have growth of 22 to 24 per cent, down from 28 per cent."
A downturn in Western Europe and the United States have an overall mixed impact on India, he said, which has seen technology sector employment improving on the back of outsourcing from foreign firms keen to cut costs and access new markets.
Source: CNN-IBN
No comments:
Post a Comment