India’s IT outsourcing industry forecast to slow down

The National Association of Software and Services Companies (Nasscom), India’s biggest trade body for the outsourcing industry, has predicted that India’s software industry will slow down due to a foreseen decline in customer spending. Nasscom said revenue growth for India’s software services industry will slow to 7% to 8% in the fiscal year ending in March 2018. Last financial year, the USD154bn IT services industry grew 8.6%. Nasscom added that the country’s outsourcing industry is facing a number of headwinds, including US visa uncertainties and political uncertainties that are resulting in companies delaying decision making.