IT industry will post double-digit growth next yr: NASSCOM
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Last Updated: Tuesday, November 10, 2009, 18:50
New Delhi: IT industry body Nasscom today said the sector will regain double-digit growth from April next year leaving behind the prolonged recession.

"Next year, starting from April we will see double digit growth coming back," Nasscom President Som Mittal told reporters on the sidelines of the India Economic Summit here.

The IT industry, which was growing 30 per cent year on year, was hit first by the currency fluctuation followed by the global financial crisis in 2008.

The economic activity seems to have picked up. The technology firms are back on hiring spree. Mergers and acquisitions are in the sight.

As per projections for the current financial year, the IT industry is likely to grow at a meagre 4-7 per cent.

However, he added, "We have made a forecast that in the next 10-12 years the industry (IT) will have a compounded annual growth rate of 12-14 per cent."

Though Nasscom is very bullish about the growth coming back, but refrained from revising the guidance upwards saying it was too early to do that.

Consultant Accenture has said it would shore up its staff strength by 8,000 by next year, mainly in the analytics space. While, Infosys BPO, the back-office unit of IT firm Infosys Technologies has also announced to hire up to 2,000 people by the end of the current fiscal.

Bureau Report

First Published: Tuesday, November 10, 2009, 18:50

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