- Industry is estimated to clock a 7.7% year-on-year increase in revenue in 2019-20, says lobby Nasscom
- The IT and business process management sector will earn total revenues of $191 bn during 2019-20
India’s information technology and business process management sector is estimated to clock a 7.7% year-on-year increase in revenue in 2019-20, faster than the 6.1% growth reported the previous year, according to the National Association of Software and Services Companies (Nasscom).
The sector will generate total revenues of $191 billion during 2019-20, showing the demand for tech spending has been stable despite an economic slowdown, a Nasscom report released on Wednesday said. Indian enterprises are expected to spend over $2 billion domestically during the period on digital transformation, while digital revenues growth during the period is seen at over 23%.
You might also be interested to read: Blockchain To Drive IT Innovation In BFSI Sector: Arvind Chandrasekar
“We were cautiously optimistic last year and the outcome was better than our expectations,” said Keshav Murugesh, chairman, Nasscom. “We maintain the same outlook this year.”