CEOs expect digitisation initiatives to continue with a big momentum.
Digital opportunities and skills will pave the future of the IT-BPM industry in India, National Association of Software and Services Companies (Nasscom) said on February 20.
Global economic uncertainties are leading to a cautionary outlook among CEOs, but they expect digitisation initiatives to continue with the same momentum, Nasscom said in a release.
“Digitalisation initiatives are at the core of business transformation and may be less impacted by somewhat lower growth in major economies,” said Debjani Ghosh, President, Nasscom.
The industry lobby ended the practice of forecasting annual growth, saying it was cautiously optimistic about 2019, citing rising global economic uncertainties arising out of the trade dispute and protectionism.
The sector will continue to invest in building products and platforms, upskill its talent pool and drive greater collaboration across the ecosystem, he added.
Nasscom discontinued the annual growth forecast from this year.
“Post the cautious Nasscom commentary, we maintain our positive view on the sector, as we feel most ongoing headwinds are factored in by the market and would recommend using the current weakness in the stocks for investments over next 12 months. Our preferred picks in the sectors are Infosys, Tech Mahindra, TCS and L&T InfoTech,” said Hemang Jani, Head – Advisory, Sharekhan.