Business Daily from THE HINDU group of publications
Tuesday, Dec 30, 2008
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Tuesday, Dec 30, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Info-Tech
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Outlook Industry & Economy - Industry Associations Nasscom ‘review’ in Jan Our Bureau New Delhi, Dec. 29 Apex software association Nasscom is likely to complete the ‘review exercise’ of the FY09 IT industry targets in early January. The much-awaited review comes at a time when the IT industry has been facing slowdown headwinds in its major markets such as US and Europe, in the aftermath of the global financial crisis. “We will be announcing it in early January…may around 5th or 6th,” the Nasscom President, Mr Som Mittal, said. The exercise is aimed at assessing the on-ground impact of the slowdown on the 21-24 per cent growth target projected at the beginning of FY09. According to the numbers projected by Nasscom in July this year, the industry’s revenue is slated to touch $62-64 billion in FY09 against $52 billion in FY08. “It is difficult this time to measure it in dollars because we are seeing some strong cross currency movement. The dollar has appreciated against the Pound and the Euro and so while there is a growth in these currencies, the number gets impacted in dollar terms. We are trying to see what the impact is in constant currency, and in dollar terms,” Mr Mittal added. More Stories on : Outlook | Industry Associations
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