Nasscom, the industry association for Indian offshore services suppliers, has softened its already muted view on the growth prospects for the sector.
Back in February, Nasscom had forecast that ‘export revenues’ (i.e. for offshore IT and business process services) would grow 11-14% in FY13 (to 31st March 2013). This compares with the 16% growth achieved in FY12, which valued Indian offshore IT/BP services at some $69bn. Nasscom is now expecting offshore services growth to reach ‘at least’ double-digit growth, the lower end of its prior forecast, setting offshore revenues at $75-77bn.
Eligible TechMarketView subscription service clients can read our analysis of this downgrade in the latest edition of OffshoreViews right here, right now!