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India’s Nasscom Predicts Slow Activity in Software Exports

by: Sarah Joson

Monday, January 30, 2012 | Outsourcing News |

Economic crises affecting IT outsourcing sector to slow down activity in software exports

 
The National Association of Software and Services Companies (Nasscom), the trade association of the IT-BPO industry in India, will possibly predict slow activity in software exports due to incessant economic problems affecting the information technology (IT) outsourcing sector.

According to a Nasscom official, there’s a possibility that the growth rate prediction for this year will not be surpassed, though a double-digit growth for 2012’s fiscal year would still be attainable.
    
For this year, Nasscom members such as Infosys, Tata Consultancy Services, and Wipro are believed to be having a hard time in explaining the situation and are still in the process of negotiating, when in fact the organization’s officials are usually ready with a forecast by this time of the year. 

Another Nasscom official added that they are still waiting for the revenue forecasts from companies, saying it does not look clear, and goal revisions may be in order this year.
   
There may be a slowdown, but the industry can reach the target for 2011-12. It is expected to post a 16-18 percent growth rate or $70 billion. On the other hand, IT research and advisory firm Gartner has reduced its IT spending predictions from 4.6 percent to 3.7 percent.

Meanwhile, Infosys Chief Financial Officer V Blakrishnan assumed that clients are now more cautious when it comes to IT spending. This has led to an indefinite forecast for the sector.


Source:
http://economictimes.indiatimes.com/
 

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