February 20, 2018 / 7:20 AM / a year ago

Indian software services sector to grow 7-9 pct in FY19 - lobby group

HYDERABAD, India, Feb 20 (Reuters) - India’s software services sector will see revenue growth of 7-9 percent in constant currency terms in the fiscal year to March 2019, a leading lobby group forecast on Tuesday.

“The current outlook is one of cautious optimism,” said R. Chandrashekhar, president of the National Association of Software and Services Companies (NASSCOM), in a statement.

“There is still some turbulence and it is not clear how some of the known uncertainties will play out, however FY 2019 is likely to be a better year, based on our current assessment”.

The country’s $154 billion IT sector has been mired in worries about U.S. visa measures, as well as a broader slowdown in technology spending among other factors.

Reporting by Sankalp Phartiyal; Editing by Rafael Nam

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