Industry body Nasscom on Wednesday downgraded the growth prospects for India’s IT exports this year to a range of 8 per cent to 10 per cent, from its earlier forecast of 10 per cent to 12 per cent, citing uncertainties arising from growing anti-globalisation rhetoric in the developed world.
●    Specifically, the lack of clarity about the Brexit process and the Donald Trump regime’s policies in the U.S are aggravating factors.
●    Global clients are delaying decisions on IT spends and many have also deferred existing assignments, although there have been no cancellations yet.
●    Industry verticals like banking, financial services and energy have slowed down spending in the U.S. due to political uncertainties and interest rate expectations from the U.S. Federal Reserve that didn’t materialise.
●    Nasscom will re-assess the industry’s prospects when more clarity emerges on both the Brexit roadmap and Mr. Trump’s approach to governance in the U.S.

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