Industry body Nasscom projected software export growth in fiscal 2017-18 at 7-8% in constant currency, down from 8.6% last year.
Through its landmark initiatives such as ‘Digital India’ and ‘Make In India’, the Indian government has demonstrated the importance of digital technologies for industries to sustain and grow. In the Union budget 2015-16, IT industry expects the finance minister to go a step ahead, and introduce measures that will enable businesses drive digital initiatives and sustain long-term innovations in the country.
The National Association for Software and Services Companies expects Indian IT exports to grow 12-14% in FY16, after the industry marginally missed its growth forecast for the current financial year. The projected growth is slower than last year, raising concerns on whether some of the biggest Indian IT companies will be able to catch up with double digit revenue growth again, this year.