Nasscom expects revenue to grow at 7.7% in FY20
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After choosing to discontinue the over 20-year-old practice of projecting revenue growth for the information and technology sector, the industry body shared its growth forecast for domestic players on Wednesday.
"Revenue of the software and business process management industry will clip at 7.7% to $191 billion," Nasscom chairman and CEO, WNS Global Services Group, Keshav Murugesh said.
The industry body also said it had witnessed an addition of 200,000 jobs in the ongoing fiscal year so far. The IT sector in India currently provides employment to 4.36 million workers.
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Nasscom is "cautiously optimistic" about growth prospects in FY21 since the sector is facing headwinds in the backdrop of macroeconomic volatility, global uncertainty, and geopolitical tensions. Lack of talent, increasing protectionism, and strained trade relations have added to the woes of IT companies.
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