Nasscom’s IT revenue grows at 7.7 per cent in FY20

NEW DELHI: The National Association of Software and Services Companies (Nasscom) on Wednesday projected the Indian IT sector to grow 7.7 per cent to reach $191 billion in FY20, with exports reaching $147 billion, and headcount addition accelerating from the previous year.

This is a marginal improvement over its prediction of 2018, when it said that the IT sector will only grow by 6.1 per cent but the sector is still ‘cautiously optimistic’ about FY21, the industry body pointed out.

“Any industry that delivers more than 7 per cent growth is a strong industry. We cannot tell if this is the new normal, but when the world economy is growing at about 3 per cent then this is good growth,” Nasscom President Debjani Ghosh said.