Infosys defends Nasscom decision to defer forecasts

Industry body Nasscom’s decision to defer its forecast has found its support from India’s second largest software exporter Infosys. The company’s chief operating officer Pravin Rao said that nothing much has changed since November due to which the decision could have been deferred.

“Nasscom had given guidance in November this year, and between November and now, things have not changed. There was a feeling that let us wait till April and most of the major companies start giving their annual results, that would be the right time,” Rao said on the sidelines of the Nasscom India Leadership Forum 2017.

Arriving at the annual target is a complex exercise and the industry lobby has to collate a lot of data before arriving at a number or a range for revenue growth, Rao said, adding that the demand environment is fairly decent as clients are optimistic, which is a likely indicator of higher spending by clients in the future.

Nasscom on Wednesday had decided not to issue an annual growth forecast for FY18 stating uncertainties in the environment. The industry body had also stated the the growth for the industry in the current fiscal is likely to be 8.6%.