
Indian software services sector to grow 7-9% in FY19: Nasscom
Live MintHyderabad: India’s software services exports will see revenue growth of 7-9% in constant currency terms in the fiscal year to March 2019, a leading lobby group forecast on Tuesday, as the industry continues to recover from what has been a tough year. The country’s $154-billion information technology sector has been buffeted by a broader slowdown in technology spending, while uncertainty looms over work visa rules in the US, the biggest market for Indian software services firms. Executives at the summit in Hyderabad, fast rising as a competitor to traditional information technology hub Bengaluru, were optimistic the sector could weather the current uncertainty by moving from low-margin businesses such as server maintenance to more sophisticated work such as artificial intelligence. However, FY 2019 is likely to be a better year, based on our current assessment.” Major companies such as Infosys and Wipro have posted improved earnings in the January-March quarter and information technology executives in Hyderabad also expressed optimism about a continued recovery as the sector diversifies into more lucrative digital segments such as cloud computing and big data.
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