Nasscom ends annual forecast; to only give guidance for sector from FY20

We are keen on changing the perception that revenue guidance represents, said Rishad Premji, Chairman, Nasscom

Software industry body the National Association of Software and Services Companies (Nasscom) on Wednesday said they would not provide growth projections for the industry anymore. Increasing uncertainty in the sector and its changing nature were some of the reasons for this decision, it said.

From 2019-20 (FY20), it will only give guidance for the sector. For FY20, it said the outlook for the industry would be “cautiously optimistic”.

“It is impossible to predict what will happen with a lot of political rhetoric,” said Debjani Ghosh, president, Nasscom. Some of the key concerns the industry body highlighted were protectionist