Indian IT industry to grow 16-18% 2011

Software industry body Nasscom: said it is confident about its projection that the IT industry in India will continue to be on the growth trajectory of 16-18 percent during 2011-12 fiscal even as the industry maintains a cautious outlook due to the economic uncertainty in US and Europe.

Earlier during the month, the association had sought to clear the air about any possible impact of the ratings downgrade of US, the world's largest economy, on India's software and outsourcing exports.
The international credit rating company Standard and Poor's earlier this month downgraded the top notch AAA credit rating of the US government's ability to pay back its creditors and investors to AA+.

source from Economictimes

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