IT, BPO industries may post slower growth

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{image-MG road_10062008.jpg}Bangalore, June 10: NASSCOM president Mittal said that the growth of IT and BPO industry is expected to take a hit by 3-4 pecent in the current fiscal owing to the slowdown in the slowdown in the US economy and spurt in the crude oil prices.

"The fundamentals of the IT industry remains strong. However, various factors like slowdown in the US economy, weak US dollar and spurt in the crude oil prices will adversely affect the IT and BPO industry," Mittal told reporters on the sidelines of the NASSCOM BPO Strategy Summit here.It is hard to make a forecast but the growth is expected to be 3-4 cent less than last year, when it grew by 29 per cent, he said.

"During the next three to four years, we are looking at a sustained growth in the 20s but due to various reasons, forecasting an exact figure will be hard. This slowdown will help us see the opportunities to improve efficiency and margins. In July, we will come out with firm numbers on the growth of the industry", Mittal said.

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