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Nasscom ends annual growth forecast, says the way it measures success is changing

Updated : February 21, 2019 06:41 AM IST

The apex software industry lobby Nasscom on Wednesday ended the practice of forecasting annual growth and said it was cautiously optimistic about 2019, citing rising global economic uncertainties arising out of trade wars and protectionism.

"The way success was measured is now changing. In the past industry had used a certain way to project guidance but with the transformation that has taken place, it is not apt anymore and that is the reason we are not doing what we did in the past," said Debjani Ghosh, president, Nasscom.

Nasscom is now trying to understand the right way to predict the future, Ghosh said.

It is also a good time to acknowledge the transformation the industry is going through, she said, adding that it is going through a significant transformation where the focus is moving from costs to innovation to becoming partners in whole digital first journey of global companies. ,”

“The best way to predict the future is to talk to people in the frontline of the business, who are the CEOs and so Nasscom has started a CEO survey,” she said, adding that CEOs are optimistic about 2019 but at the same time are cautious about uncertainties.
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