Updated 24 May, 2013, 1:30 pm IST
Ups and downs
India's export-driven software services companies are bracing for a slower pace of outsourcing contracts due to the lingering debt crisis in Europe. Bangalore-based Infosys, India's second-largest software services exporter, forecast dollar revenue growth of 16.4 percent for the fiscal year to March 31, down from 17.1 percent to 19.1 percent projected in October.
"The global economy, driven by slower growth in developed markets coupled with the European crisis, could impact the growth of the IT industry," Infosys Chief Executive S. D. Shibulal said in a statement.
India's $76 billion IT services industry competes with Accenture Plc
Gartner predicted global IT spending would rise 3.7 percent in 2012, down from its earlier estimate of 4.6 percent. The forecast for Western Europe was slashed to a 0.7 percent drop in spending from a previously expected rise of 3.4 percent. Infosys
Revenue rose 30.8 percent to 92.98 billion rupees, as the company, whose customers include BP Plc
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