Inflation hit a 13-month high of 6.7% in March because of spiralling global fuel and commodity prices, but robust growth of the IT and business processing outsourcing industry reinforced the confidence of global corporations in India. Nasscom chairman Lakshmi Narayanan said: “Trends indicate that the industry is firmly poised for broad-based growth across industries and service lines, thereby strengthening India’s leadership position as the primary sourcing location for software, IT infrastructure and business process-related services.”

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