India’s IT services sector revenue is expected to grow 6-8% in dollar terms this fiscal year, on continued demand for newer digital services from clients, ratings agency ICRA has said.
IT firms reported higher deal wins in the preceding year, while net employee addition increased for a majority of companies, signaling stable demand for the IT services sector. Companies added a net 1,13,787 employees in FY19, compared to 11,600 during FY18 and 93,500 in FY17, it said. In February, industry body Nasscom forecast software exports to grow 9.2% to $137 billion in FY19. This year it stopped giving guidance for industry growth. It said a survey of its members had shown that a majority expected better growth this fiscal on the back of increasing demand from clients.