IT will meet lower end of forecast, says Nasscom

The National Association of Software and Services Companies (Nasscom) said that the Indian IT industry is expected to meet the lower-end of its 11-14 per cent growth guidance and at least achieve a double-digit growth.

The estimate is based on its analysis on the Indian IT-BPM sector’s outlook for the fiscal year 2013 based on industry performance for the first half year and global technology spending trends.

Amidst a volatile and challenging global economic environment, the India IT-BPM industry has sustained its growth trajectory during the year.

Nasscom Chairman and CEO & MD of TCS, N Chandrasekaran, said, “The industry performance for the past half-year has demonstrated the sector’s ability to innovate and deliver in enabling growth of customer businesses in challenging times.”

He added that changing business models, solutions around disruptive technologies and verticalised structures are enabling the industry to emerge as a strategic partner for their customers.

Nasscom President Som Mittal said, “The IT-BPM industry continues to be a growth sector for India demonstrating double-digit growth. The industry continues to reinvent itself – expanding the market, building new capabilities and a globalised model.”