Indian IT sector exports seen picking up pace in FY15: Nasscom

Wednesday, 12 February 2014 00:00 - - {{hitsCtrl.values.hits}}

REUTERS: Exports by India’s IT outsourcing sector are expected to rise 13-15% in the fiscal year starting April, an industry lobby group said on Tuesday, as an improving global economy encourages banks and companies to boost spending on technology. IT services exports in 2014-15 are forecast to rise to as much $ 99 billion, according to the National Association of Software and Services Companies (Nasscom).

The increase in growth rate compares with an estimated 13 percent rise in fiscal 2014, the lobby added. “Clearly compared to what we saw in the industry 12 months ago to now, we are seeing a far more positive momentum in our major markets,” Nasscom Chairman Krishnakumar Natarajan, also Chief Executive of IT firm Mindtree Ltd., told reporters. Last month, the International Monetary Fund raised its global economic growth forecast for the first time in nearly two years. India’s biggest IT services outsourcing firms, Infosys and Tata Consultancy Services, have forecast stronger growth for IT spending in the next fiscal year by their main customers in Europe and the United States.