Global Credit Rating Agency, Moodys had predicted that Indian IT services will register a revenue growth of 11-13% annually. This would be a huge respite to the industry which is reeling under the pressure of slowdown over the past 18 months. This is due to the economic stability in developed countries, accounting for 90 percent of Indian software exports.
Moodys predicted good days particularly to the entire global IT services outsourcing industry. Moodys also appreciated Indian IT firms that are moving to low-cost destinations within and outside the country and are offering high-end value added services to their customers. Despite the slowdown, Indian IT industry is also being benefited by the depreciating Rupee.
However Moodys rang the danger bell for Indian IT industry that geo-political factors like curbs on outsourcing would impact its performance. This comes at time when Indians leaving abroad are anxiously waiting for the upcoming President elections. Presidential Candidates like Donald Trump are vowing to get rid of foreigner robbing the jobs of the locals.
