National Association of Software and Services Companies (Nasscom), the domestic IT services and BPO industry body, which had deferred issuing growth projection for the next fiscal year (2017-18) in previous month, expects the IT industry to grow at 8-10 percent next financial year.
Although, the association will come out with a final projection in May, chairman CP Gurnani said that nothing had changed since November 2016 to change the projection. Gurnani noted that many domestic IT companies may change their business strategies and regroup themselves owing to newer trends such as increasing automation artificial intelligence, digital data and digital disruption.
He added that the current velocity of business growth would support that 8-10% growth, which may be revised after analysing the fourth quarter (2016-17) numbers. So industry body will comeback in May with forecast after a better understanding of primary data. Further, on the falling hiring trends, he said that the current trend suggests that job accretion will be at best half of its growth in recent years.