IT sector growth could slow to 10.8 percent in 2009
NEW DELHI - The IT and IT enabled services (IteS) industry in India is expected to grow 10.8 percent to touch Rs.309,573 crore ($64 billion) in 2009, the slowest in the last five years, a report released here said. "The domestic market is estimated to grow at 10.2 percent to touch Rs.109,406 crore, while exports will likely grow at 11.2 percent to cross Rs.200,000 crore, the report by market intelligence firm IDC said.
The statisticians bring no good news but something to be very scared of. This recession has deservingly placed itself in history of worst job losses in 60 years. With output still falling at a dizzying rate, most companies are shedding unneeded workers and cutting back the hours of those remaining.
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