Indian IT to rebound by 2010

[dwarakesh]

The reports from the leading IT outsourcing giant, Infosys indicates that Indian IT economy cannot rebound until 2010.

According to the statements from CEO S. Gopalakrishnan, of  Infosys that no one is going to spend anything until the middle of 2010.

Infosys is predicting its first drop in annual revenue due to slump in market and 90 percent drop in its sales from North American and European clients.

Revenue in the year ending March 31 will fall at least 3.1 percent to $4.52 billion.

Infosys Technologies Limited is a multinational information technology services company headquartered in Bangalore, India and it is one of India's largest IT companies with 104,850 professionals (including subsidiaries) as of Mar 31, 2009.

Source: itvoir