Putting It Off
Earlier this week, Nasscom delayed its growth forecast for the first time in its 25 years of existence. While that led to whispers about the apparent declining health of the industry, ET learns the grouping had thought of deferring or not announcing a target for about two weeks before that. The final decision to hold back the growth target was made by the Nasscom executive council, which includes heads and senior officials of multinational technology companies, BPOs, Indian IT services companies and internet companies. The decision was not an easy one and was debated for a long time before it decided to hold on.