IT industry to grow in next financial year, say experts
Posted on: 21/Feb/2018 11:41:07 AM
Industry body National Association of Software and Services Companies, or NASSCOM, has said that India’s near $167 billion IT services industry is expected to grow 7-9 per cent in the next financial year. NASSCOM said the sector’s growth should see growth revival middle of next fiscal even though 2017-18 started on a muted note owing to multiple headwinds including tensions over immigration reforms.
According to a senior NASSCOM official, While the software export revenues are projected to grow to 7 to 9 per cent to $135-137 billion; the domestic revenue is likely to grow 10-12 per cent to $28-29 billion. The sector, which has been a key job creator in the country, will see a net addition of 1 lakh people during the next fiscal. New technology job opportunities have been created in non-technology companies. In 2017-18, net employee addition has been nearly 1 lakh, lesser than the earlier projection of 1.5 lakh jobs. The broader economic upswing is translating into business opportunities for the sector, but with a lag.
