The National Association of Software and Services Companies (Nasscom), on Thursday, said it maintained its growth projection of 11-14 per cent for the current financial year.
It said it would review its projection in October, even as some member-companies had given muted forecast amid global economic uncertainties.
“We don't think it is in need for us to change it ... we will review it back in October and, if needed, we could raise it upwards or downwards,” Nasscom President Som Mittal told reporters here.
He added fundamentals of the industry still remained extremely strong.
Mr. Mittal said when Nasscom gave its forecast in February, it was termed as ‘conservative' but as some companies had reported muted earnings in the January-March quarter of last fiscal, the forecast was being seen as too optimistic.
“We gave this forecast in February and we were told how conservative we are and when are you going to revise it upwards. And then one quarter of results came out and then we are suddenly asked: you are so optimistic nobody aligns with you and when are you revising it downwards...,” he said.
Nasscom, in February, forecast that export revenues from the infotech and the IT-enabled services sector would grow between 11 per cent and 14 per cent in dollar terms, while the domestic market would grow 13-16 per cent in rupee terms.
