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IT industry growth may halve to 15% this fiscal: Infosys

05 Dec 2008

According to the country’s second largest IT services company Infosys Technologies, the growth rate of overall Indian IT and ITES sector may slow down to about 15 per cent this fiscal, compared with about 30 per cent notched during the previous year.

Nasscom had initially projected that India’s software and services revenue would grow between 21 and 24 per cent during 2008-09. However Infosys would meet the 25,000 hiring target set for fiscal ended March 2009.

Infosys also commented that the overall IT budgets are likely to be lower next year. However the company has clarified that there is no change in the revenue guidance for the third quarter and the fiscal. The company had, in October, lowered its dollar revenue guidance for FY09 by six percentage points. It now expects revenue to be between $4.72 billion and $4.81 billion.crackcrack
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