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IT industry down yet optimistic

Views 4 Views    Comments 0 Comments    Share Share    Posted 17-11-2008  

IT industry will see growth slowdown this year, but companies feel they will be in a position to take advantage of the next growth cycle, said industry leaders on Sunday.

Speaking at the India Economic Summit, organised by the World Economic Forum and the Confederation of Indian Industry (CII), Infosys Technologies executive co-chairman Nandan Nilekani said the growth witnessed by the IT sector in the last 4-5 years won’t be replicated this fiscal, owing to the current economic slowdown.

Infosys, which recently revised its full-year guidance downwards, would go ahead with its planned recruitments, he added. The country’s second-largest tech firm plans to hire 25,000 people this fiscal.

Source:
http://economictimes.indiatimes.com/Infotech/ITeS/Tech_vendors_in_a_bind_as_new_
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