Software growth rate could be less than 16-17 percent: Infosys

New Delhi, Feb. 5, (ANI): Infosys Director T. V. Mohandas Pai said on Thursday that India's software export growth rate could be less than 16-17 percent during the current fiscal.

The shares of country's second-largest software company, Infosys, were fallen down 3.35 percent at Rs. 1,240 on the Bombay Stocks Exchange.

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

The National Association of Software and Services Companies (NASSCOM) had also stated yesterday that the sector's export revenue would touch 47 billion dollars with a growth rate of 16-17 percent in 2008-09. (ANI)