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IT biggies' growth to be lower than industry's
By siliconindia
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Friday, 06 February 2009, 23:55 IST |
1 Comments
Chennai: As the poignant IT scenario fails to show a shine of progress, the big IT firms are set to witness less growth than the industry for the first time in past five years. As an aftermath of the slowdown in the growth of new orders from U.S., the Indian IT biggies will not mark a higher growth than the growth rate predicted by IT body Nasscom for the industry.
As per the guidance numbers put out by Infosys and TCS, the companies will grow below Nasscom's estimate this year, as reported by The Economic Times. Infact, even the captives of multinational companies operating in India are expected to post a higher growth compared to the IT giants. The IT body in its latest growth forecast estimated the software and services export revenues to grow over 16-17 percent to reach $60 billion.
However, Wipro is presumed to grow beyond the industry forecast through the acquisitions it made. Toeing the same lines, Cognizant's guidance reflects that the company may outperform the industry growth by around 15 percent on meeting its target.