Nasscom sees no significant change in growth projections

Had earlier made a forecast of 13-15% increase in Indian software exports during 2014-15

The National Association of Software and Service Companies (Nasscom) president R Chandrashekhar today said they expected no significant change in the Indian software industry’s growth projections made for the current year.

It may be recalled that the industry body of the country's IT and ITeS companies had earlier made a forecast  of 13-15 per cent increase in Indian software exports during 2014-15. It said the software exports would rise to about $ 99 billion in the current year from an estimated $ 86 billion in 2013-14.

When asked if these projections needed a revisit in the light of the third quarter numbers announced recently by Indian software giants like Tata Consultancy Services (TCS ) and Infosys, Chandrashekhar said they don’t envisage any significant change in their projections.

However, he added they would discuss these matters in the steering committee before coming to any conclusion as such.

While TCS has reported just a 2.9% growth in revenues in the third quarter Infosys posted a 5.9% jump in revenues during the same period.

On the ‘retrenchment drive’ initiated by TCS, the Nasscom president defended the company saying they had been the biggest recruiters of the IT professionals. “They have explained their position in this regard. There is nothing out of normal (in what they are doing),” he said.

It may be recalled that ForIT, a forum of IT professionals, had alleged mass retrenchment in the company and sought government’s intervention in the matter.