The problems facing the US automobile sector may not have any great impact on India's software exports, but industry body Nasscom expects overall export growth to fall to 21-24 per cent this fiscal against 28 per cent in 2007-08.

While the failure of the US senate to agree on a bailout package for the auto industry may not have any great impact on technology exports, India's largest information technology services provider, Tata Consultancy Services (TCS), expects growth projections for the Indian information technology industry as a whole to be affected by the US downturn.

TCS, however, is a major technology provider to one of the three Detroit auto firms, Chrysler.

''I think it is impossible to predict what is really happening, because we are living in times where everything is unpredictable,'' S Ramadorai, chief executive of TCS, said.

''I cannot say anything right now, because of the current situation in the marketplace. Any number anybody gives, let me tell you, is a guess,'' said Ramadorai.

India's software and BPO exports reached $40.4 billion (about Rs1,960,000 crore) last fiscal. The US economy has since witnessed a collapse of some of its biggest financial institutions as the world's biggest economy tipped into a recession.

This in turn, has impacted India's growth, which is now down at around 7 per cent from the earlier pace of around 9 per cent. This has forced corporates to postpone investments.

Earlier this month, Infosys Technologies chief executive S Gopalakrishnan said he expected the industry to grow at around 15 per cent in FY09.

Ramadorai said TCS might defer some capital expenditure. The company had in July announced that it had earmarked Rs 4,500 crore of capital expenditure this year, but may not go ahead as planned.

''I think it's not just quite about money but also the sentiment to buy,'' said Ramadorai.