NASSCOM breaks tradition, scraps annual guidance for IT; releases CEO survey

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Published: February 20, 2019 3:53:43 PM

In a departure from tradition, Nasscom will no longer provide guidance for the IT industry’s growth for FY20.

Indian IT companies, digital transformation, R Chandrashekhar, NASSCOM, IT industryThe guidance is based on past data that is not right metric anymore for the industry, Debjani Ghosh, NASSCOM President said.

In a departure from tradition, Nasscom will no longer provide guidance for the IT industry’s growth for FY20. The information technology trade body will not release its guidance even later, Rishad Premji, the chairman of the industry body, told media on the sidelines of a three-day annual summit today. “Rather than collating a number, we feel having a perspective would be better. We are not sharing the number as a philosophical decision,” he added.

The industry faces risks on account of rising protectionism and dearth of talent, he said, adding that global uncertainties revolve around trade wars and surging protectionism.

The guidance is based on past data that is not right metric anymore for the industry, Debjani Ghosh, NASSCOM President said. The body is looking at metrics such as digital revenues, mergers and acquisitions, automation, digital skilling, patents, investments made in digital and customer satisfaction, she added.

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However, the industry body, starting this year, has begun with the CEO Survey. Even as there is optimism, majority of industry leaders are cautious in their approach on account of global uncertainties such as Brexit and trade war, the survey said. But, a most of the respondents are confident about the spending on digital despite the global uncertainties.

The major drivers for growth in FY20 are expected to be digitisation in core sectors followed by customer experience, NASSCOM said.

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