Nasscom skips forecast ritual

IT industry association Nasscom on Wednesday broke with tradition and stopped the practice of forecasting annual growth.

Instead, it revealed the details of a survey of chief executives that showed they were “cautiously optimistic’’ about the growth prospects for 2019-20 given the increasing global macroeconomic headwinds.

The decision comes on the back of the industry achieving an export growth of 9.2 per cent in 2018-19, which is above the estimate of 7-9 per cent that Nasscom had come out with in May last year.