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Infosys pegs IT industry growth at 15% this year

Infosys pegs IT industry growth at 15% this year
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First Published: Thu, Dec 04 2008. 12 52 PM IST
Updated: Thu, Dec 04 2008. 12 52 PM IST
New Delhi: The country’s second largest software exporter Infosys Technologies today said the domestic IT industry is likely to grow by 15% this year against 30% growth last year in the wake of global slowdown. “Last year the IT industry grew more than 30%, this year it is looking at somewhere in the region of 15%. So, it has slowed down,” Infosys CEO S Gopalakrishnan told reporters here on the sidelines of the CII conference.
IT industry association Nasscom has pegged the growth rate at 21% for this year due to the downturn in the world’s largest economy US, which contributes 60% of the total revenue.
“As per the estimates we are getting from industry bodies it looks like the sector will register a growth of 15% this year,” Gopalakrishnan added. However, he clarified that Infosys will stick to its revenue guidance for the third quarter and the fiscal. Infosys had earlier scaled down its dollar guidance (revenue projection in dollars) by about three percentage points for the full year to 13.1-15.2%.
Infosys has seen delays in orders but there was no change in its third quarter guidance, Gopalakrishnan added. On hiring plans, he added Infosys would hire 25,000 people this year, but there would be no fresh recruitments beyond that, except in specific skills. He further clarified that therewere no plans to cut headcount.
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First Published: Thu, Dec 04 2008. 12 52 PM IST