IT in­dus­try to grow 12-14% for FY2016

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Ac­cord­ing to Nass­com, the In­dian in­for­ma­tion tech­nol­ogy (IT) in­dus­try is ex­pected to grow within the pre­dicted range of 12-14% for FY16 in con­stant cur­rency terms. In­dia’s $146 bil­lion IT in­dus­try has been fac­ing the brunt of whip­saw­ing cur­ren­cies this year as move­ments be­tween the dol­lar, the euro, the Aus­tralian dol­lar and Latin Amer­i­can cur­ren­cies have hurt growth. Dig­i­tal con­trib­utes roughly 10% of the in­dus­try’s rev­enue and is grow­ing much faster than the tra­di­tional busi­ness. While clients’ bud­gets in­crease, largest of in­creased bud­gets will go to soft­ware. Hard­ware will con­tinue to face cost pres­sures and IT ser­vices will see mod­er­ate growth. An­other key ver­ti­cal for In­dian IT – man­u­fac­tur­ing - will wit­ness a 5% rise in IT spend. While re­tail, high-tech, health­care, me­dia, travel and hos­pi­tal­ity will wit­ness rel­a­tively slug­gish growth, en­ergy and util­i­ties will wit­ness the high­est % growth in IT spends at 7.7%.

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