Nasscom scraps industry growth target in search for new metrics

The National Association of Software and Services Companies said it would stop giving a growth projection for the IT sector as it begins to make a ‘philosophical’ shift and needs new metrics to describe future growth.
Over the last two years, the annual Nasscom growth projection had become increasingly controversial. India’s largest IT services player Tata Consultancy Services said the metric was not relevant to it and several firms questioned the reason for its continued existence.
“The guidance was taken from a IT-BPM services standpoint. We are trying to change the perception of who we as Nasscom represent and what that guidance represents,” Rishad Premji, Chairman of Nasscom and chief strategy officer at Wipro, said.