For the first time in three years, India will register lower growth rate, but some economists believe all is not lost.
The projected fall has been attributed to the US economic slowdown and the rise in international oil prices. Accordingly, the industry growth has been pegged at around 24 per cent for FY09. In FY08, total revenues including hardware were $48 billion which are expected to touch $64 billion in FY09. The total software and services revenue was $39.5 billion in FY08 and expected to touch $52 billion in FY09.
Ganesh Natarajan, deputy chairman and managing director, Zensar Technologies Limited has been appointed vice chairman, Nasscom for the current year.
Hyderabad-based Goldstone Technologies, a software technology and services company, is all set to launch IPTV services in Malaysia and Thailand.
Satyam Computer Services, a leading global IT services company, on Wednesday signed an estimated $200 million (around Rs 900 crore) five-year contract with California-based Applied Materials
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