Expect IT cos' domestic revenue to grow 11-13% in FY17: Nasscom

Industry body the National Association of Software and Services Companies (Nasscom) has trimmed its exports outlook to 10-12 percent for the FY17. The body also expects domestic revenue growth for the industry to be in range of 11-13 percent in FY17. Speaking to CNBC-TV18, R Chandrashekhar, President, Nasscom says that the current growth has been within the indicated band despite the global uncertainties. The FY16 revenue growth is seen at 10.3 percent while the estimation was 12-14 percent. In an earlier report by Nasscom and Mckenzie, the projection was that industry can reach USD 350 billion by 2015. Even in the report, the growth in first five years is expected to average at 11 percent, says Chandrashekhar adding that the "growth is exactly on the track."While the spending in existing verticals like energy, telecom has slowed down, lot of fresh spend is happening in new product development and engineering, says CP Gurnani, MD & CEO at Tech Mahindra."Overall, (one needs to) understand that within technology which sectors or which particular technological skills or which projects are being priortised," Gurnani adds. A number of changes happening are necessitating adoption of digital technology, says Chandrashekhar adding that this trend is opening new opportunities. Bulk of growth is expected to be in the digital are, he adds.For the entire interview, watch video