News: Nasscom maintains growth forecast for IT industry

C-Suite

Nasscom maintains growth forecast for IT industry

According to, NASSCOM, the software industry body, the software sector will achieve a growth of 16-18 percent this fiscal, notwithstanding concerns over economic uncertainty in global markets. The sector is slated to bring in revenues to the tune of $68-70 billion. 85 percent of the revenue is accounted for by the US and European region. In the first half of the current fiscal, the industry has witnessed a growth of about 17-18 per cent year-on-year. The growth in the domestic market is estimated to be 15-17 per cent, with revenues of about $ 19-20 billion.

According to, NASSCOM, the software industry body, the software sector will achieve a growth of 16-18 percent this fiscal, notwithstanding concerns over economic uncertainty in global markets. The sector is slated to bring in revenues to the tune of $68-70 billion. 85 percent of the revenue is accounted for by the US and European region. In the first half of the current fiscal, the industry has witnessed a growth of about 17-18 per cent year-on-year. The growth in the domestic market is estimated to be 15-17 per cent, with revenues of about $ 19-20 billion.

Indian IT firms are now waiting for clients to finalize their IT budgets for the next year, which will in turn determine their performance in the coming fiscal. Though there are concerns and uncertainty, IT companies are hiring and preparing for the next year.

Source: The Economic Times

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Topics: C-Suite, #Updates

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