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Hiring activity in IT sector may be muted this year: Infosys

However, Nasscom expects a rise in global technology spending, opportunities created through adoption of disruptive technologies to propel growth in FY14

Press Trust of India  |  New Delhi 

activity in the is likely to be muted this year, Co-founder and Executive Co-Chairman S Gopalakrishnan has said.

"position seems to be muted this year because many still have deep bench (strength). In other words, their utilisation rate is still low," he told PTI.

The $100-billion India IT-ITES sector faced strong headwinds in 2012-13 due to global economic slowdown and muted spending in North America and Europe, which accounts for 80% of Indian IT revenues.

Industry-body expects a rise in global technology spending and opportunities created through adoption of disruptive technologies to propel growth in FY14.

expects export revenues of $84-87 billion in 2013-14 fiscal at a growth rate of 12-14%. Exports were estimated to have grown by 10.2% to $75.8 billion in FY13.

The Indian IT industry, which contributes about 7.5% to the country's economy, gives direct employment to 25 lakh people.

First Published: Sun, March 17 2013. 12:28 IST
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