Nasscom sees IT sector growth at lower-end of forecast

Nasscom sees IT sector growth at lower-end of forecast

 PTI   Mumbai     Last Updated: November 12, 2012  | 21:35 IST

The $100-billion IT industry is expected to meet the lower end of 11-14 per cent growth projection in this fiscal, software companies association Nasscom said today.

The revenue from IT exports is estimated at $75-77 billion for the year, Nasscom said.

"We feel that we will meet the guidance at the lower end (11 per cent) of the estimate. So we are projecting that we will end up the fiscal at least with a double-digit growth," Nasscom Chairman N Chandrasekaran, who is also TCS Managing Director and Chief Executive, said.

Chandrasekaran further said the year has been marked by significantly varied trends due to the prevailing economic conditions across the major economies.

Chandrasekaran further said though Q2 results have been much higher compared to the previous three quarters, many of the global in-house centres have not seen good growth primarily due to the cost cuts and bigger impact on currency.

The Nasscom guidance is based on three constituents - performance of domestic companies with domestic operations, MNCs with India operations and the global in-house centres, he said.

On the impact of outsourcing business in the wake of re-election of Obama , who is an open critic of offshoring, Chandrasekaran said he does not see any negative implication as the US is still recovering and hence it greatly requires technology.

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