The country's second-largest IT company Infosys on Thursday said that India's software export growth rate could be less than the forecasted 16-17 per cent during the current fiscal on the economic downturn.
"The probability that the growth rate will be lower than the 16-17 per cent is higher (than the chance of it being higher)," Infosys Director (Human Resources) T V Mohandas Pai said.
Scaling down India's software and services export revenue, including IT and BPO, industry body NASSCOM on Wednesday said that the sector is expected to clock 16-17 per cent growth in the current fiscal, posting a revenue of $ 47 billion in 2008-09.
NASSCOM had earlier estimated that this fiscal's software and services export revenue could touch 50 billion dollars, and the anticipated growth rate then was 21-24 per cent.
Pai said the customer is not spending on IT and there is a pricing pressure on the software companies.
"The customer wants more value for his money," he said.
{{/usCountry}}"The customer wants more value for his money," he said.
{{/usCountry}}Shares of Infosys were down 3.35 per cent at Rs 1,240 on the Bombay Stocks Exchange.