Trump impact? Nasscom
defers annual growth forecast to May
The IT industry lobby Nasscom today said the sector will grow at the lower end of its revised target in fiscal 2017, but deferred guidance for the next financial year by a quarter, as the headwinds rise. Trump impact? Nasscom defers annual growth forecast to May The IT industry lobby Nasscom today said the sector will grow at the lower end of its revised target in fiscal 2017, but deferred guidance for the next financial year by a quarter, as the headwinds rise. Nasscom President R Chandrasekhar said the association will come out with its guidance for the IT and the business process management sector in the next quarter, most probably in May, which is an unprecedented move, once it is done with "deeper interactions" with customers and other stakeholders. But he did not quantity the revised number. Nasscom had, it can be noted, revised down its fiscal 2017 revenue growth target to 8-10 percent from an initial 10-12 percent as the headwinds started emerging.
He said the target will be given by May and added that areas like BPM, product companies, platforms and digital are still growing. He said the revenue stream which may reduce is traditional outsourcing. Speaking about non-linearity, Gurnani said the number of direct employees has grown 5 percent to 3.8 million this fiscal year as against a 8.6 percent revenue growth. Due to the digital disruption taking place in the technology sector, a massive re-skilling exercise will have to be undertaken and up to 1.5 million employees will have to be re-skilled over the next two0-three years, the body said. Gurnani maintained that for the industry, digital revenue is growing at 1.5 times faster and now constitutes 14 percent of the total revenue stream. The software lobby is working on creating a Nasscom Learning Management System in next six months that will crowdsource content and put it in a cloud that can be accessible
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The IT industry lobby Nasscom today said the sector will grow at the lower end of its revised target in fiscal 2017, but deferred guidance for the next financial year by a quarter, as the headwinds rise. Trump impact? Nasscom defers annual growth forecast to May The IT industry lobby Nasscom today said the sector will grow at the lower end of its revised target in fiscal 2017, but deferred guidance for the next financial year by a quarter, as the headwinds rise. Nasscom President R Chandrasekhar said the association will come out with its guidance for the IT and the business process management sector in the next quarter, most probably in May, which is an unprecedented move, once it is done with "deeper interactions" with customers and other stakeholders. But he did not quantity the revised number. Nasscom had, it can be noted, revised down its fiscal 2017 revenue growth target to 8-10 percent from an initial 10-12 percent as the headwinds started emerging.
He said the target will be given by May and added that areas like BPM, product companies, platforms and digital are still growing. He said the revenue stream which may reduce is traditional outsourcing. Speaking about non-linearity, Gurnani said the number of direct employees has grown 5 percent to 3.8 million this fiscal year as against a 8.6 percent revenue growth. Due to the digital disruption taking place in the technology sector, a massive re-skilling exercise will have to be undertaken and up to 1.5 million employees will have to be re-skilled over the next two0-three years, the body said. Gurnani maintained that for the industry, digital revenue is growing at 1.5 times faster and now constitutes 14 percent of the total revenue stream. The software lobby is working on creating a Nasscom Learning Management System in next six months that will crowdsource content and put it in a cloud that can be accessible
Read more for HNI Stock Tips- http://bit.ly/ace_services
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