IT industry to grow at 7-8%, 10-11% in domestic market: Nasscom

The Indian IT industry's software exports will grow 7-8 per cent and the domestic market 10-11 per cent in the current fiscal 2017-18, said its apex body Nasscom on Thursday. 

 

"The outlook for the IT industry in fiscal 2017-18 (FY 2018) is 7-8 per cent growth in software exports and 10-11 per cent in the domestic market," said the National Association of Software and Services Companies (Nasscom). 

 

The lower revenue outlook comes in light of political and economic uncertainties that impacted decision-making and discretionary spend during the last fiscal (2016-17), it said in a statement. 

 

Noting that digital solutions and niche segments would be the key growth drivers, the industry's representative body said the revenue projection was based on improvements in financial services and high potential in digital business. 

 

"The fiscal year will see growth driven by the modernisation of operations for client firms and the adoption of new technologies such as SaaS (Software As A Service) applications, cloud platforms, BI (Business Intelligence), cognitive and embedded analytics as enterprise customers scale digital projects," said the statement.

 

Source: Business Insider