NASSCOM breaks tradition, scraps annual guidance for IT; releases CEO survey

In a departure from tradition, Nasscom will no longer provide guidance for the IT industry’s growth for FY20. The information technology trade body will not release its guidance even later, Rishad Premji, the chairman of the industry body, told media on the sidelines of a three-day annual summit today. “Rather than collating a number, we feel having a perspective would be better. We are not sharing the number as a philosophical decision,” he added.

The industry faces risks on account of rising protectionism and dearth of talent, he said, adding that global uncertainties revolve around trade wars and surging protectionism.

The guidance is based on past data that is not right metric anymore for the industry, Debjani Ghosh, NASSCOM President said. The body is looking at metrics such as digital revenues, mergers and acquisitions, automation, digital skilling, patents, investments made in digital and customer satisfaction, she added.