India’s IT industry see an upturn next year says senior official

Vastavam web: India’s IT industry could see an upturn next year as the process of investments in technology, particularly in the United States, has started to gather momentum, says a senior official.The industry is on track to posting 7-8 per cent growth in exports in the current fiscal and there is no case for revisiting those numbers as no new factor has emerged, said software services body Nasscom’s president, R Chandrashekhar.We don’t see any need for any major change at this point. We believe, that is the range we will be in,” Chandrashekhar told.
“We don’t see a case for revisiting those numbers. The important thing is: no new factors have come up which warrants reconsideration. Whatever factors are there are all known factors, all these were taken into consideration when we made the projection,” he said.”Also, we believe that the coming year could actually witness an upturn in the industry largely based on global economic trends, US trends in particular,” the official said.”Now, I think those uncertainties have either been resolved or that level of uncertainty has now stabilised and we know that this uncertainty is going to continue for a long time,” he said.
The process of investing in technology has sort of started picking up and this trend is actually expected to really consolidate in 2018, Chandrashekhar said.So, these factors make Nasscom believe that “we will be seeing an upturn in the year ahead,” he said.