Technology

Software Services Sector To Grow 7-9% In FY2019: NASSCOM

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| February 20 , 2018 , 17:47 IST

Revenue growth of India’s software service exports will see a growth of seven to nine percent as the industry recovers from a difficult year.

The forecast, which was put out at the annual summit of the National Association of Software and Services Companies (NASSCOM), is in line with the 7.8 percent revenue growth it expects in the six months to the end of March 2018.

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Major Tech giants such as Infosys and Wipro have posted improved earnings in the first quarter and IT executives at a summit in Hyderabad expressed their optimism with continued recovery with the influx of diversification.

“This is an opportunity for people like us who service enterprises to step up and say: I can help you in the front, I can help you with the business model, I can help you with your operational profile,” said Ananth Krishnan, chief technology officer at TCS (Tata Consultancy Services).

Company officials were particularly excited about artificial intelligence. Krishnan said TCS was already embedding Artificial Intelligence (AI) in its offerings.

It is expected that the IT sector will add 1,00,000 new job in the coming fiscal year, however, the focus on finding new talent to work on AI-driven solutions has been seen as a key constraint.