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Nasscom Expects 8-10% Industry Growth in FY18

Software services industry lobby Nasscom has said it expects the sector to grow at 8-10% next financial year.

Press Trust Of India

Updated:March 3, 2017, 3:51 PM IST
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Nasscom Expects 8-10% Industry Growth in FY18
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Software services industry lobby Nasscom has said it expects the sector to grow at 8-10% next financial year but added that a clearer picture will emerge only over the next two to three months.

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"We gave the projection to media last November. Now between November and February...now March, not much has changed that I can change my projection. So, I have given the projection on behalf of Nasscom that the growth will be 8 to 10%," Nasscom chairman CP Gurnani told reporters.

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"All I am saying is that we will wait till the fourth quarter results, after which we will have a better understanding of primary data. As soon as we get that, we compile it and will comeback to you in May with our forecast," the Tech Mahindra chief executive said.

It can be noted that Nasscom had revised down its fiscal 2017 revenue growth target to 8-10% from an initial 10-12% as the headwinds from the US, which is the single largest revenue source for the industry, started emerging following the election of Donald Trump.

At the Nasscom leadership forum in the middle of last month, where the industry traditionally used to give out its growth forecast, the industry lobby delayed its estimate to May citing the many emerging headwinds.

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