Indian IT industry being told to take a price cut of 20-30%
Pravin Rao, CEO of Infosys, said: "From a client perspective, technology spends are not changing dramatically; at the same time they know they have to invest in newer areas. So, they are taking cost-take-out initiatives in most client organisations from what is known as run-the-business.The slowdown in tech spending is expected to continue for the next 12-18 months as clients are not reinvesting in new tech at a rapid pace, says Infosys' COO