IT Business will grow by 12 to 13% in 2015 and we are confident about that depending on where the dollar and rupee would go, said Nasscom chairman on Friday.
IT and services body Nasscom expects that hiring by IT companies would be about 2.75 lakh during the current year, while the overall industry may grow by $20 billion (approximately Rs 1.33 lakh crore).
Business will grow by 12 to 13%.We are confident about that, depending on where the dollar and rupee would go. In terms of people, its (hiring) is 2.75 lakh, Nasscom said.
"But if you compare it with the previous years, we will probably add about $20 billion (nearly Rs 1.33 lakh crore) extra revenue this year.Last year we only added about $16 billion", Nasscom Chairman BVR Mohan Reddy said on Friday on the sidelines of a programme organised by IIT-Hyderabad.
Reddy had earlier in June indicated that the hiring this year would be about 2.3 lakh. According to him, last year IT and services sectors touched $148 billion (nearly Rs 9.87 lakh crore) revenues.
Nasscom recently said the Indian technology and services industry is on track to reach its goal of $225 billion (nearly Rs 15 lakh crore) in revenues by 2020 and further to reach revenues of $350 billion (Rs 23.34 lakh crore) by 2025.
Reddy said the growth in revenues is largely due to the adoption of 'disruptive' technologies in terms of automation and knowledge-based workforce coming into the sector.
On the impact of floods in Chennai on the IT industry, Reddy said most of the big companies have already taken precautionary measures and avoided troubles.
"Hopefully as far as the disaster management is concerned, the companies have already done that. Data backups have been moved out of Chennai momentarily. I think it is receding at this juncture", Reddy said.
"Employees were sleeping in offices. Infrastructure has been created for the people to stay back in offices. We are also making sure that the disaster recovery backup system has been moved to other locations", he said.
On the market outlook, he said it is stable and positive. He, however, opined that the disturbances in some of the regions may have some impact in the long-run.
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