Indian IT export to grow 7-8% in current fiscal: Nasscom

The IT-BPM industry is expected to add 1.3-1.5 lakh new jobs during 2017-18, according to Nasscom.

Indian IT export is projected to grow by 7-8 per cent in 2017-18, industry body Nasscom said in its guidance on Thursday.

The domestic market is expected to grow 10-11 per cent, it said.

The IT-BPM industry is expected to add 1.3-1.5 lakh new jobs during 2017-18, Nasscom president R Chandrashekhar told reporters here. In the previous fiscal, the industry’s net hiring stood at 1.7 lakh.

Keeping in view the political and economic uncertainties in key overseas markets that impacted decision-making and discretionary spend, and also the performance of IT companies last year, Nasscom expects the future outlook to be positive, he said.

“India’s share in the global IT sector is not only steady, but also growing,” Mr. Chandrashekhar said. The size of the Indian IT industry is pegged at USD 154 billion, including USD 11 billion incremental revenues added in the previous fiscal, according to Nasscom.