IT industry to grow by 10 percent despite H-1B visa dispute
Posted on: 05/Apr/2017 11:36:26 AM
The Indian Information Technology sector is uncertain in terms of its visa front for the year 2017-18, says Kris Gopalakrishnan, an industry veteran.
This is challenging mainly due to uncertainties in the visa front, said the co-founder and former CEO of Infosys while addressing an interview. He has hinting about the Indian IT firms’ prospects in this financial year.
Other than this challenge, there is nothing else i see indifferent this year, he adds. The other aspects are towards the industry growth, pointed the former President of the Confederation of Indian Industry.
When there is 2-3 percent growth in the global GDP, a growth of 3 to 5 percent is likely in global IT investment, and 4-5 percent growth in Indian IT is likely. In the year 2017-18, the growth will be about 9 to 10 percent.
This fiscal year is not really going to be the most challenging for the sector. In fact, in 2008, financial crisis had taken the industry to almost zero growth rate, he remembered.
This digitization period is giving rise to budding firms in India. The industry is showing interest on investing in contemporary technologies, he added.
