MUMBAI: iGate Global Solutions, part of iGate Corp, has said 2008 will be subdued for information technology (IT) companies due to cutbacks and cancellations on projects.
Phaneesh Murthy, chief executive officer, told a news channel, the budget actual spent of IT firms in 2008 will be lower than budgeted in 2008 and will also be lower than that in 2007.
Some IT companies may end up meeting their guidance numbers and some will not because of what happens with their customer sets rather than the broader market, he said.
"Volume growth is more likely to get affected than pricing. We are not seeing as much of pricing getting affected in the market," the CEO added. Worries for mid-size companies will be because of their client concentration, he added
The Times of India dt. 9 7 08
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