Nasscom vs Cognizant

Indian IT industry body Nasscom and American firm Cognizant sent out contrasting signals on Wednesday about the IT industry’s near-term growth, thus adding new layers of uncertainty in the market. While Nasscom was categorical that growth will slow to a range of 11-14% in FY13, Cognizant powered by stellar performances in its BFSI and healthcare verticals said it will grow by 23% in calendar year 2012 (which contains 9 months of FY13). Nasscom took into account the eurozone crisis, slowdown in global tech spending and even political unrest in West Asia to give credence to its muted forecast.

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