Published on Tue, Feb 09, 2010 at 18:41 | Source : CNBC-TV18
Updated at Wed, Feb 17, 2010 at 14:12
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IT sector on growth path; wage hike on cards
Indian IT companies are cautiously optimistic, that is the sense CNBC-TV18’s Kritika Saxena has picked up from the NASSCOM leadership summit at Mumbai.
Indian IT companies are cautiously optimistic, that is the sense CNBC-TV18's Kritika Saxena has picked up from the NASSCOM leadership summit at Mumbai.
Finally, people are talking about signs of recovery; in the next two-three quarters, we will see IT industry back on its track.
NASSCOM says client budgets are expected to grow 50% this year vis-à-vis last year; that is a significant growth. Revenues from budget increase will take another two-three years to flow in. Hot verticals are BFSI, telecom and utilities. North America, Europe will witness fast recovery.
Wage hike expected:
Wage hikes are expected to happen this year. Largecaps as welll as midcaps will be giving out wage hike, starting from about 8-10%. Infosys and TCS haven't given the quantum yet, but Wipro has confirmed that they will be giving out wage hike in line with the industry.
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Indian IT companies are cautiously optimistic, that is the sense CNBC-TV18's Kritika Saxena has picked up from the NASSCOM leadership summit at Mumbai.
