It’s a tough time for IT

Information Technology, the pioneer of the development process in the present era, is facing a stringent time for its growth process. The growth rate of the sector for 2007 was only 28% and in the current fiscal it has been estimated to be around 24% to 25 %. There are few valid reasons behind such poor performance of the sector and the most vital among them is the recession in the United States of America. Analysts, from different financial institutions are sharing the same concern that the first part of the present year may witness few more losses by the IT and will start to recover from the second part of the year. Some of the important players in the sector have postponed their respective plans for the uncertain scenario prevailing in the sector. This has affected adversely to the industry and the growth process has taken a back seat currently.