Nasscom Keeps Estimate on Industry Export Revenue
NEW DELHI -- India's main software trade body Tuesday reiterated its estimate of the industry recording 16%-18% growth in export revenue this fiscal year, despite fears of economic troubles in the main outsourcing markets.</br></br>The National Association of Software and Services Companies, or Nasscom, had in February forecast the industry's export revenue at $68 billion-$70 billion in the fiscal year that started April 1.</br></br>"We don't see any reasons to do it [revise outlook]," Som Mittal, president of the association, told reporters on the sidelines of an industry event. "We had factored in a little bit of uncertainty when we gave the 16%-18% growth outlook."</br></br>Though Mr. Mittal said there was no reason to get worried about the current volatile economic environment, he added that there is a "need to be cautious."</br></br>Mr. Mittal's comments come after Infosys Ltd., India's second-largest software exporter by sales, Sunday warned about clients holding back their technology budgets if delays in taking spending decision persist in a weak economic environment.