Nasscom to issue sector guidance and trends tomorrow

Software and services industry body Nasscom will be issuing the much-awaited guidance and trends of the sector for the current financial year here tomorrow.

According to an official intimation from the body, Nasscom's Chairman Raman Roy, Vice-Chairman Rishad Premji and President N Chandrashekhar will be announcing the much awaited annual ritual which otherwise is normally held in February every year.

Nasscom for the first time deferred giving its outlook for the $155 billion industry in February and postponed to April-June quarter, as the headwinds including immigration and H-1B visas, rise.

Former Nasscom chairman and founder and executive chairman of Cyient Limited BVR Mohan Reddy hoped that the industry may grow between 8 and 10% during FY18.

He, however, said the hirings by the IT companies may come down by up to 25% compared to last year.

"Hiring will be lower. The number will be in the range of 150,000 to 180,000 compared to little over 200,000 last year," Reddy told PTI.

According to him, tomorrow's meeting will emphasise on how to skill, reskill and upskill people to meet the current technological changes.