Indian IT and BPM sector grows 9.2% in 2018-19: Nasscom

Industry body Nasscom announced the Indian IT and BPM sector has grown 9.2 percent in 2018-19.
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This growth in the $155 billion sector was due to investment in digital transformation and the use of automation.

Digital grew 30 percent on a yearly basis and is now estimated to have raked in revenues of $33 billion.

The growth was aided by some tailwinds in the form of highest tech spending in the last 5 years. “However, global macroeconomic factors such as a no deal Brexit, US China trade wars and increased government uncertainties around regulation continue to weigh in,” Nasscom President Debjani Ghosh said.

This has impacted the forecast estimates which Nasscom used to give religiously and which was a kind of benchmark for the companies.

Nasscom said that around 15 percent of the total IT workforce has been reskilled in new technologies. It said that 170,000 new tech talent were added in the year.

The Indian software association will not be providing any revenue guidance for the future.