You are here: Home » Companies » News
Business Standard

Nasscom sees no significant change in growth projections

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

BS Reporter  |  Hyderabad 

The National Association of Software and Service (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 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.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, January 16 2015. 20:44 IST