03 October 2011

Global Recession Will not Have Big Impact on Indian IT: Nasscom

The Indian IT sector will not be impacted much by recessionary trends in Europe and the US as the industry is poised to grow on increasing domestic demand and by tapping new markets outside the West, Nassocm said.

"Yes, slowdown happens. We are mindful. But we are sure about the potential of the IT sector in India," software and services industry body Nasscom's Chairman Rajendra Pawar told reporters here today.

The domestic market has been growing fast in the last two years. In addition, Indian software and service providers can tap emerging markets like Russia and Brazil, Nasscom said.

The last decade had been generally considered a troubled time the world over. But the Indian IT market has kept its phenomenal growth during that period, Pawar said.

Nasscom's executive council met here today and said Kerala has the potential to become a major IT-BPO destination.

The success that Kerala has achieved in the tourism sector can be repeated in the IT sector as well, by harnessing its inherent strength like literacy and connectivity, Nasscom said.