New Delhi: The Indian IT sector is expected to grow between four percent and seven percent in the current fiscal as global economies are yet to recover fully from the slowdown, but may return to over 10 percent growth next year. "The impact of downturn is not over yet, though some signs of recovery can be seen. We expect IT industry to regain double-digit growth next year," said Som Mittal, President of industry body Nasscom

Nasscom also expects India to draw export revenues of $49-50 billion in the current fiscal. On the status of recruitment in the sector, Mittal said that many IT firms have started the hiring process and are likely to resume campus selection in January. Other industry experts, who were present at the session, stressed on the need to launch innovative products to make technology more affordable to the users of IT services, particularly small and medium businesses.

"Best brains in the world are busy solving problems of the rich, who actually have no problems when compared to those of poor," said Sam Pitroda, Advisor to the Prime Minister on Public Information Infrastructure and Innovations. India has potential to take the lead to capture rural market and to provide information about new avenues available and developments in technology, Pitroda said, adding that the focus should also be on building human capital. In order to make youth more employable, emphasis should be laid on improving quality at the vocational training level, besides the college, he added.