Recent study of NASSCOM suggests that, Indian IT industry is likely to recover in another 12 months, despite of a continuing recessionary trend globally. Economy Slowdown resulted slower growth in Indian IT industry for the recent quarters and further expected in coming few quarters.
Mr Ganesh Natarajan, the chairman of NASSCOM admitted that, after 12 months the Indian IT industry will more focus on domestic market and less on international markets. Adding to this, NASSCOM chairman said that as compared to India, the UK and other European markets will recover in 2-3 years while the US will take another 12-18 months to emerge from the current gloomy conditions.
Among these countries, Japan is the worst hit since it is a big client of Indian and the US IT industry. Unlike a growth rate of 24% last year, the Indian IT industry is expected to reported lesser growth rate while the GDP will continue to grow between 6% to 7%. Further, additional 50,000 work forces will be recruited during the next year while, in the year 2008 the industry have recruited around 2 lakh people.
Mr Ganesh Natarajan, the chairman of NASSCOM admitted that, after 12 months the Indian IT industry will more focus on domestic market and less on international markets. Adding to this, NASSCOM chairman said that as compared to India, the UK and other European markets will recover in 2-3 years while the US will take another 12-18 months to emerge from the current gloomy conditions.
Among these countries, Japan is the worst hit since it is a big client of Indian and the US IT industry. Unlike a growth rate of 24% last year, the Indian IT industry is expected to reported lesser growth rate while the GDP will continue to grow between 6% to 7%. Further, additional 50,000 work forces will be recruited during the next year while, in the year 2008 the industry have recruited around 2 lakh people.
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