Page 3 - Nasscom

Indian IT sector may see low single-digit growth in FY25: Nasscom

Revenue likely to cross $300 bn in FY26, says Nasscom; 126,000 jobs added in FY25

US market a 'wild card' for Indian IT: Nasscom president Rajesh Nambiar

United States, the largest market for the USD 282 billion Indian IT sector, is a "wild card" for the industry, lobby grouping Nasssom's president Rajesh Nambiar said on Monday. Speaking to reporters Nambiar said the tariff threats by the US may turn out to be the biggest headwind for the sector. "Broadly, if you were to look at the headwinds, the biggest unknown there would be the tariffs and the impact of what happens in the US market," Nambiar said. He was quick to add that one should not forget that the US contributes 60-62 per cent of the revenues for the sector. "It is a bit of a wild card at this point of time. We do not know what is going to be in store," Nambiar said. It can be noted that since assuming office on January 20, President Donald Trump has threatened to impose reciprocal tariffs with the intent of strengthening the American economy. Speaking at Nasscom's annual NTLF event earlier in the day, the country's second largest IT services exporter Infosys' chief exec

India's tech sector FY25 revenue to grow 5.1% to $282.6 billion: Nasscom

IT industry body Nasscom on Monday pegged the FY25 revenues for the sector to grow 5.1 per cent to USD 282.6 billion. The industry is likely to cross USD 300 billion in revenues in FY26, which is about 6 per cent higher than the FY25 level, its President Rajesh Nambiar said at the Nasscom Technology Leadership Forum here. "This is a good outcome broadly given everything happening around us," Nambiar told reporters, commenting on the business outcomes in FY25. Number of people employed by the tech sector grew by 1.26 lakh to 58 lakh people during the year, Nasscom projections said. The traditional IT services companies' FY25 revenues are set to grow 4.3 per cent to USD 137.1 billion, while the business process outsourcing revenues are set to rise 4.7 per cent to USD 54.6 billion. At 7 per cent, revenue growth of engineering research and development companies was the fastest at USD 55.6 billion. The domestic revenues for companies are set to grow 7 per cent to USD 58.2 billion, gro

Good steps forward: Nasscom hails Budget's focus on improving ease of biz

IT industry body Nasscom on Saturday welcomed the government's focus on fostering entrepreneurship and improving ease of doing business in the Union Budget 2025-26 and said "these are the good steps forward". Nasscom President Rajesh Nambiar said the government's focus on innovation and improving ease of doing businesses reinforces its commitment of making India a global leader. "The commitment to expanding safe harbour rules, both on the threshold as well as on the rate side is very much welcome. These are the good steps forward," he said. The government has rationalised basic customs duty rates, slashing the number of levies to just eight, but has kept the effective duty rates on most items the same by adjusting cess to further ease of doing business. Finance Minister Nirmala Sitharaman removed seven tariff rates in the 2025-26 Budget. These are in addition to the seven tariff rates removed in the 2023-24 Budget. After this, there will only be eight remaining tariff rates, inclu

H-1B visas not related to immigration, they fill skills gap: Nasscom

Nasscom on Wednesday said H-1B visas have nothing to do with immigration issues and instead fill critical skills gap in the US, as the apex industry body asserted that technology will be the "lynchpin" of US economic growth, triggering continued need for "win-win partnerships" between companies on both sides. Nasscom vice president Shivendra Singh slammed "myth" that H-1B workers are cheap labour, replace American workers, or depress US salaries, and sought to assuage concerns around any adverse impact of President Donald Trump's latest moves and orders on flow of Indian tech professionals to the US. Singh told PTI that Nasscom does not have any reason to be less optimistic around Indian IT industry's growth story, given that India and Indian talent have very important role in growth of US economy. He expressed optimism that the developments in the US would not cloud the outlook for the Indian IT industry. Nasscom's comments assume significance given the growing unease around Trump'

Nasscom foundation names Jyoti Sharma as CEO, replaces Nidhi Bhasin

nasscom foundation on Thursday announced the appointment of Jyoti Sharma as its new Chief Executive Officer, effective immediately. Succeeding Nidhi Bhasin, Sharma brings over 20 years of experience in driving social impact and leading program development, resource mobilisation, and stakeholder engagement, according to a company statement. "Her visionary leadership and deep expertise will be instrumental in scaling our impact through our flagship programmes, broadening our reach, and driving meaningful change through the innovative use of technology," nasscom foundation Chairman Rostow Ravanan said. Established in 2001, nasscom foundation is a not-for-profit organisation representing the Indian tech industry. Sharma said she will work towards strengthening nasscom foundation's TechForGood legacy by broadening its reach and deepening its impact. "My focus is to ensure that the synergy of technology and social innovation paves the way for India to achieve its vision of digital equit

H-1B ecosystem mainly benefits US firms more than Indian ones: Nasscom Prez

While India has always been recognized for its talent, we must now deepen our technology skillsets to drive growth

'Overreach': USISPF, Nasscom on Sebi's specified digital platform plan

The proposal followed SEBI's mandate restricting the association of registered entities in the securities market with those who are unregistered or not covered under the ambit of the market regulator

Nasscom unveils Developers Playbook for responsible AI in India

The initiative of the Nasscom Responsible AI Hub to come up with a playbook will establish a unified industry framework for AI risk identification and mitigation in India

Nasscom, DIFC sign MoU to foster cross-border technology partnerships

As part of the MoU, the industry bodies will exchange sectoral insights and development strategies with each other

GenAI startups see 3.4x funding surge in September quarter: Nasscom

In Q2 FY24, the total funds raised stood at $15 million across nine rounds, driven primarily by enterprise applications and Agentic AI

India strengthens GenAI startup market, funding up over threefold: Nasscom

Indian GenAI startups raised $51 million in Q2 FY25, up from $8 million in Q1 FY25, stated a report by Nasscom

India-US ties strong; no way around India's tech prowess: Nasscom chief

India and the US have maintained strong ties in strategic areas of cooperation and technology over the years and that focus is expected to continue, Sindhu Gangadharan, new Chairperson of IT industry association Nasscom said on Wednesday. The comment assumes significance as there have been broad concerns about the implications of US Presidential elections for over USD 250 billion Indian outsourcing industry as well as on employment-based immigration. On how she sees the outcome of US elections impacting the Indian outsourcing industry, Gangadharan told PTI: "I think India and the US have always focused on strategic areas of cooperation, when it comes to tech...I think there's no doubt that the cooperation has been extremely strong over the last years." "So no matter what the outcome of the US election will be, I think there's no way around leveraging the phenomenal tech prowess that India has to offer....not just for US, but the rest of the world," she added. India has scripted a .

GenAI start-up landscape witness broad-based growth, crosses 240 in H1 2024

Net funding addition of $152 million since H1 CY2023, cumulative funding grows over $750 million since 2023, according to Nasscom report

Bihar inks MoU with Nasscom with aim to promote state's IT policy

The Bihar government on Monday signed a Memorandum of Understanding with the National Association of Software and Service Companies (NASSCOM) with an aim to promote the state's IT policy and investment opportunities. The MoU was signed in the presence of Bihar IT Minister Santosh Kumar Suman and Srikanth Srinivasan and Nirupam Choudhary, both NASSCOM vice presidents. According to a statement issued by the IT Department: With the support of NASSCOM, Bihar government will plan and organise roadshows in Bengaluru, Chennai, Mumbai, Hyderabad and Pune. These roadshows will facilitate in linking Bihar government officials with potential investors and technology companies, increasing the potential for investment in the state. This partnership will also enable Bihar to participate in NASSCOM's national programmes, allowing the Department of Information Technology to showcase the emerging IT activities in the state, it said. Through these programs, Bihar's progress in IT infrastructure, ski

India leads on world AI stage in talent and domain skills: Nasscom chief

India leads on world AI stage in talent and domain skills, placing it on a strong footing in transformative era of Artificial Intelligence, Nasscom's new chairperson Sindhu Gangadharan has said, asserting this is "the best time to be in India" particularly for those in the technology sector. In a wide-ranging interview to PTI, Gangadharan touched upon several key issues -- from the importance of mental and social well-being at workplace to economic impact of AI and GenAI -- and sought to assuage concerns around artificial intelligence (AI) displacing jobs. She stressed on the need for organisations to attach high priority to mental and physical well-being of their workforces and make it part of their organisational culture, through policies, practices and interest groups. Gangadharan's comment assumes significance in the backdrop of the tragic death of a young employee at one of the prominent consultancy firms that led to social media outcry and triggered intense debate in corporate

'Only 10% of India's 1.5 mn engineering graduates to secure jobs this year'

Many engineering graduates lack the practical skills and industry-specific knowledge required to meet the demands of employers

Firms need time to comply with data protection law: Vinayak Godse

'Companies will need to overhaul processes and adjust operations'

70% of Fortune 500 firms will expand reach to India by 2030: Report

The report further added that the number of GCCs is expected to reach 2,100-2,200 in 2030 from the current over 1,700

Powering India's technology growth: The continuous rise of Indian AI

As many as 70 per cent of companies spend more than 20 per cent of IT budgets on digital and emerging technologies