The apex body, the National Association of Software and Services Companies’ (NASSCOM) Vice Chairman Keshav R. Murugesh has expressed confidence that the Indian IT and Business Process Management (BPM) industry is likely to see 8% growth in revenue during the financial year 2018-19 (FY19) to reach at $167 billion as against $154 billion in fiscal 2017-18.
Murugesh also listed the facts of the industry, noting that the industry is capitalising on newer technologies and re-skilling. He further added that the back office segment (BPM) has the largest base in the world, generating $32.5 billion revenue with 1.2 million employees across the country. He also said that the industry is focusing on intelligent operations -- process and domain expertise combined with digital technology.
However, the Vice Chairman reiterated that the major row over data privacy should be addressed and compliance with the European Union's General Data Protection Regulation is a regulatory requirement. He also noted that digital is the key area for clients and service providers, while companies eye strategic acquisitions.