Indian information technology trade body Nasscom on Wednesday said the sector will bounce back after 3-4 quarters. “Growth rates are uncertain now due to the downturn, lower than 30 percent, but it will spring back,” said Nasscom president Som Mittal.
Mittal said hiring by the IT industry in the present fiscal would be lower than the previous year, while there could be some company-wise job lay-offs. Hiring has slowed down because attrition is lower while efficiency has improved, he said.
Nasscom is taking a relook at the growth forecast of 21-24 percent for IT and the BPO industry, for the ongoing financial year, due to the global economic downturn and would come out with a clear position on it in the third week of December.
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