IT export growth rate to be lower than 16-17 pc: Infy

New Delhi, Feb 5: Country's second-largest IT Company, Infosys said on Thursday, Feb 5 that country's export growth rates will not touch an expectation of 16-17 per cent during the current fiscal year, due to global economic crisis.

"The probability that the growth rate will be lower than the 16-17 per cent is higher (than the chance of it being higher)," Infosys Director (Human Resources) T V Mohandas Pai said.

Industry body, NASSCOM on Wednesday, Feb 4 said that India's software and services export revenue, including IT and BPO is expected to clock 16-17 per cent growth rate in the current fiscal year posting a revenue of USD 47 billion in 2008-09.

Earlier, NASSCOM had estimated a growth rate of 21-24 per cent for software and services export. The revenue was estimated to touch 50 billion dollars.

Pai said the customer is not spending on IT and there is a pricing pressure on the software companies.

"The customer wants more value for his money," he said.

OneIndia News (With inputs from Agencies)