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IT sector could grow up to 7.7% in the Fiscal Year 2020 – NASSCOM

The National Association of Software and Services Companies, NASSCOM said that India’s IT sector could grow 7.7%, which is 191$ billion in the fiscal year 2020. This includes, the exports reaching up to 147$ billion. India’s Information Technology and back-office sector are the main contributors to this growth.

Around 2,05,000 jobs were added in the information sector during this fiscal year and around 1,85,000 jobs were added in the fiscal year 19. The officials are hoping for a similar successful fiscal year 21.

According to the NASSCOM president, Mr.Debanji Ghosh it was a good performance by the IT sector. He also said that any sector which registers a growth percentage of 7 or higher is a good, strong industry when the world economy is growing around 3 percent.

NASSCOM discontinued the annual forecast for the upcoming year since the last year, but instead, it states the CEO’s confidence. According to 57$ of CEOs, the next fiscal year 2021 will be as successful or better than the current fiscal year.

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