Infosys says clients in the US are cutting IT spending.
New Delhi: Growth in Indian exports of software and services this fiscal year could be below a downwardly revised forecast from the peak industry body, a senior official of Infosys Technologies (INFY BO) said on Thursday.
"The probability that it will be lower than 16-17 percent is higher," Infosys board member, T V Mohandas Pai, told reporters on the sidelines of a news conference.
On Wednesday, the National Association of Software and Service Companies (NASSCOM) said exports of software and services would grow 16-17 per cent to about $47 billion in the fiscal year ending March, sharply below an earlier forecast as the global slowdown dents outsourcing.
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