Indian outsourcing demand 'remains strong'

Software and Services Companies, (Nasscom), says demand for outsourcing services remains strong and reiterated a 16%-18% growth in export revenue in this fiscal year that began on 1 April, reports Market Watch.

This comes in the wake of a report by brokerage CLSA Asia-Pacific, which downgraded India's technology sector to 'Underweight' from 'Neutral', on concerns of a cut in outsourcing demand due to a slowdown in the US economy and ongoing Visa issues.

“The momentum is positive”, president of Nasscom Som Mittal said, writes the Indian Express.

“There will be all time concerns about deficit financing but “I think it is achievable”, he added.

Inflation, by and large, is not impacting IT exports momentum and we continue to keep our guidance of 16% - 18%”, he told reporters at a function.

According to The Economic Times, in January, the Indian IT industry went to the campuses and made about 150 000 recruitment offerings, Mittal said.