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National Association of Software & Service Companies (NASSCOM) Related news
IT industry body National Association of Software and Services Companies (Nasscom) is expecting a tentative growth rate of 8-10% for the financial year 2017-18. Further guidance for the industry is expected in the month of May post the fourth quarter results. Incidentally, Nasscom had deferred in providing a guidance for the next financial year due to uncertainties and slowdown in discretionary spending. The industry body has not made any forecast for fiscal 2018, citing political uncertainties in the US and Europe, which has slowed down decision-making in tech spending.

India's software sector body, Nasscom, will try to persuade entities such as Google, Facebook and IBM to lobby with the Donald Trump administration to look at a more liberal visa regime.

They will argue that outsourcing to India helps American companies to be competitive and generate more jobs. India has a little over 1,000 global firms, a majority of these are US companies. These companies began building applications, products and services out of India, initially to cut costs. But, now increasingly for value by using local talents, even as they struggle to find engineers back home.

On Saturday, some formidable captains of the information technology (IT) sector will be here for the start of the National Association of Software & Services Companies (Nasscom) conclave of chief executives, a three-day affair.

It is Odisha's first attempt to host such a conference -- in fact, the first occasion when this is being held outside of a metropolitan city.

Nasscom Foundation on Thursday in its yet-to-be-released report, has said that a substantial number of companies have spent more than 60-70% of their corporate social responsibility (CSR) spend in education initiatives and the remaining half spend between 30-40% of their budget in education.

"Education forms the major chunk of CSR spend: A substantial number of companies interviewed have spent more than 60-70% of their CSR spend in education initiatives and the remaining half spend between 30-40% of their budget in education," the report, to be released shortly at a different event, said here.

Nasscom (National Association of Software and Services Companies), the country's software lobby, has revised its growth forecast downwards to 8-10% this year after its biggest members such as Tata Consultancy Services, Wipro, Cognizant and Infosys struggle to grow faster due to an uncertain environment.

In April, Nasscom projected the $108-billion export-focused software and back offices industry to grow 10-12% this year.

Nasscom concerned over GST implementation
Posted on 4th November 2016
Software lobby group National Association of Software and Services Companies (Nasscom) said it was yet to get clarity on the rates for IT products but cautioned that the bigger challenge for the sector would be the implementation of the goods and services tax.

“The industry is looking at a rate of 12-16 per cent. So, it entirely depends on how it gets. But, the bigger concern is how the GST is applied,” said R Chandrashekhar, president of Nasscom.

Nasscom set to cut growth forecast
Posted on 27th October 2016
Nasscom, the country’s software lobby, will revise its growth forecast downward from 10-12 per cent this year. This is after its biggest members such as Tata Consultancy Services, Wipro, Cognizant and Infosys have struggled to grow faster in a more uncertain global environment.

These companies are seeing clients shift to faster adoption of automation, cloud and digital technologies, while cutting on traditional information technology (IT) services. Both Infosys and Cognizant have cut their annual revenue forecast, for these reasons. Nasscom says this is a good indication of where the sector is headed.

Indian BPM growing 8-9% yearly: Nasscom
Posted on 16th September 2016
The total addressable market for the Indian business process management (BPM) sector is expected to be $54 billion by 2025, growing at eight to nine per cent yearly, says Nasscom, the apex body of the information technology and BPM sector.

Over the next five to seven years, global BPM spending is expected to grow six to seven per cent annually and reach $233 bn by 2020, it said.

Nasscom seeks changes in GST Model Law
Posted on 4th August 2016
While Indian IT industry body Nasscom said that the Goods and Services Tax (GST) Bill is a welcome move, it has also voiced some concerns on the GST Model Law. Nasscom has suggested certain changes to the finance ministry on self-declaration procedures, instead of multiple paper-work for registrations by the IT companies for ease of doing business.

Global software major Tata Consultancy Services (TCS) is the top employer in the Indian IT industry, followed by Infosys, Cognizant and Wipro, the industry's representative body National Association of Software and Services Companies (Nasscom) said on Monday.

According to the Nasscom annual rankings of top IT-BPM (business process management) employers in the country for 2016, TCS heads the Indian IT industry, with 362,079 employees.

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