The National Association of Software and Service Companies (Nasscom), Indian IT industryís trade body, announced on Sunday that former telecom secretary R Chandrashekhar has formally taken over as the president of the organisation, succeeding Som Mittal who served between 2007 and 2013.
Chandrashekhar comes at a time when the $108 billion plus Indian IT industry, with over $76 billion in exports, is showing steady signs of recovery, especially from its largest market Ė the United States. However, the new president will face certain daunting challenges from the regulatory front, especially on the new proposed visa regime in the US, which may put formidable obstacles for the Indian IT industry.
This is the first time that Nasscom has appointed a former bureaucrat as the president.
Commenting on the appointment, Chandrash-ekhar said, ďI look forward to lead Nasscom in its next journey of achieving the vision and aspiration of $300 billion in revenues by 2020. The opportunities are very vast at this particular juncture and exciting times lie ahead for the industry. The future looks positive as the Indian IT-BPM industry is evolving dramatically in terms of scale, complexity and innovation.Ē