IT sector poised to top NASSCOM growth projection: Ramadorai
Thursday, 10 February 2011, 07:06 IST   |    3 Comments
Printer Print Email Email
IT sector poised to top NASSCOM growth projection: Ramadorai
Mumbai: The multi-billion Indian IT sector is likely to grow higher than the projection given by the apex industry body NASSCOM, a top official said today. "I think we should be able to see growth that is better than NASSCOM's projection," S Ramadorai, TCS Vice- Chairman and Advisor to the Prime Minister on Skill Development, told reporters at the NASSCOM meet here. Ramadorai is a former Managing Director & CEO of Tata Consultancy Services (TCS), India's largest IT firm. NASSCOM has projected a 16-18 percent growth for the industry in FY 12 at $ 68-70 billion in revenues. The domestic market is estimated to grow 15-17 percent with revenues of Rs 90,000-92,000 crore (about $ 19-20-billion). "We will aim for a higher growth," Ramadorai said, adding TCS too should see a higher growth than the industry. Yesterday, TCS Managing Director N Chandrasekaran had said IT budgets of clients are slated to increase in FY 12, especially their discretionary spends. "Client's IT budgets are seen increasing in FY 12 and we also see more discretionary IT spending," he had said. NASSCOM has said client budgets will go up by 2 to 4 percent in FY 12, but Chandrasekaran declined to give a number for TCS' expectations for the next fiscal. He said conversations with some clients suggest an increase in their respective IT budgets. Speaking at the same event earlier, Telecom Minister Kapil Sibal said India's IT industry will grow to $ 225 billion by 2020 from the current $ 67 billion.
Source: PTI
siliconindia