NASSCOM brings down exports growth forecast for FY2015-16
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The National Association of Software and Services Companies (NASSCOM has now lowered the exports growth forecast to 12-14% for FY2015-16. Its growth forecast for FY2014-15 was 13-15%. It said that global information technology and business process management spending had risen by 4.6% and the BPO spending had grown by 9-10% last year.
“We are seeing a continuity. But this year’s numbers are also an aggregation of all the segments, some growing fast,” said R Chandrashekhar, president, NASSCOM.
According to the trade association, the domestic market is likely to surpass $48 billion in FY2014-15, which would be a growth of 14% as compared to the year-ago period. “This was faster than average industry growth and was driven by e-commerce, which grew 33% year-on-year to become a $14-billion segment,” NASSCOM said.
“I think 2015 will be better than 2014,” said R Srikrishna, chief executive of
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He further added, “Discretionary spending in the US will be better in 2015 than last year. Discretionary spending may be low in Europe, but we are hopeful of the non-discretionary part of client budgets to fuel growth in the region.”
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