Nasscom revises software services growth projection

New Delhi, Feb 4 (IANS) The National Association of Software and Services Companies (Nasscom) on Thursday revised the growth forecast for the software services sector to between 10-12 percent for the financial year 2015-16, a statement said here.

The exports revenue of the industry grew by 12.3 percent and domestic revenue grew by 10 percent in 2015-16. The earlier growth projection by the IT software industry body for the present financial year was in the tune of 12-14 percent.

“Amidst a growth of 0.4 percent in the global IT-BPM in 2015, the industry is expected to reach an estimated $143 billion in FY2016, doubling its revenue over the last six years and crossing the $100 billion milestone in export revenues,” the statement said.

“In addition, e-commerce contributed $17 billion revenue boosting digital consumption. India continues to gain market share in the global sourcing sector and emerges as the largest, most diversified and scalable destination,” it added.

“Amidst a volatile global economic environment, the industry has been able to set new benchmarks by growing from strength-to-strength and sustaining its double-digit growth,” BVR Mohan Reddy, chairman, Nasscom said.

With an increase in technology spending estimated by global technology analysts, industry expects the double digit growth story to continue in 2016-17.

“The IT-BPM industry export revenue is expected to grow by 10-12 percent in 2016-17 reaching revenues of $119-121 billion. The industry is expected to add a net employment around 2 lakh,” the statement added.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here