More than 7% growth for the Indian IT Sector, NASSCOM forecasts

NASSCOM is hosting India Leadership Forum in Grand Hyatt, Mumbai on 12-14 Feb 2020. The industry body National Association of Software & Services Companies (NASSCOM) is a trade association of Information Technology (IT) and Business Process Outsourcing (BPO) industry. The non-profit organization NASSCOM has forecasted the Indian IT sector to grow 7.7% in FY 20 to reach $190 billion.

 

IT stands strong despite the economic slowdown

 

According to one of the NASSCOM’s reports, although the local economy exhibited 4.8% growth, the exports stood at $644 billion. Further NASSCOM President Debjani Ghosh affirmed that 7.7% growth in the current scenario testifies strong growth. It was during this event that NASSCOM Chairman Keshav Murugesh cited, “The IT-BPM industry is going to be the key catalyst for India’s overall growth.”

 

IT to witness employment growth

 

In addition to the turnover growth, the software industry body NASSCOM also predicted an additional demand of over two lakh jobs in the IT-BPM sector. This is a clear sign of improving stability.

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