99951 Investors following TCS. Share this News with them.
0
Like this story, share it with millions of investors on M3
11-14% IT growth forecast for FY13 conservative say players
The Indian IT industry is gearing up for its next phase of growth. At the NASSCOM India Leadership Forum, most IT bellwethers seemed confident of exceeding NASSCOM's growth forecast of 11-14% for the next year.
The Indian IT industry is gearing up for its next phase of growth. At the NASSCOM India Leadership Forum, most IT bellwethers seemed confident of exceeding NASSCOM's growth forecast of 11-14% for the next year.
Speaking at the Forum, R Chandrasekaran, Group CEO of Cognizant says that NASSCOM has set out a vision for the industry, which is to be a USD 225 billion industry by 2020. "Tell me, which sector grows at this pace even in a volatile environment? We should all feel good about IT now," he says.
He also announced today that the industry has crossed the USD 100 billion mark.
TCS on the other hand thinks that NASSCOM has been fairly conservative with the estimates. "We feel this number is achievable, but we will review it again as we go into the next fiscal year," says N Chandrasekhar, managing director and chief executive officer of TCS. From TCS' point of view, they are confident of always performing above the industry average which is the NASSCOM average.
"NASSCOM has looked at the data from all companies, and I would say that's a realistic estimate at this point of time," says S Gopalakrishnan, executive co-chairman, Infosys . However, the uncertainty in the environment due to the global economic slowdown needs to be factored in, he says.
