Nasscom has projected a revenue growth of 7.7 per cent at $191 billion for the IT sector in the current fiscal.

The body, which represents India’s IT-BPM industry, disclosed that the growth was led by IT services, which is expected to contribute $97 billion — a growth of 6.7 per cent over last year. It is followed by e-commerce at $54 billion (growth of 25.6 per cent) and BPM at $38 billion. The rest is accounted by engineering, software products and hardware.

Of the $191 billion, around $147 billion came from exports against $136 billion in the previous fiscal, a growth of a little over 8 per cent. The industry had achieved an export growth of 9.2 per cent in 2018-19.

According to the industry body, digital skilling continued to be a key focus area during the year. Of the total workforce of 4.36 million, the net new hires during the year stood at 205,000 and the number of employees who were digitally skilled stood at 8.84 lakh.

Nasscom had last fiscal discontinued an over two decade-old practice of forecasting revenue growth, citing the fast changing dynamics of the industry and it did not offer its annual growth target for 2019-20, terming it as “a philosophical shift as the landscape changes”.

Addressing the media at the annual Nasscom leadership forum here on Wednesday, Nasscom chairman Keshav Murugesh said: “Revenue of the software and business process management industry will clip at 7.7 per cent to $191 billion”.

Delivering the keynote address at the event, N. Chandrasekaran, chairman, Tata Sons, said that while India will not face a problem with numbers or technology, it will be confronted by challenges in ‘skills and qualifications’.

He added that the industry’s vision for the next decade should not only include software professionals but those across all segments of the society and that the country also needs a people plus technology approach.

While many of the IT services firm do not give out a specific guidance, Infosys had said that revenues for the year will grow 10-10.5 per cent in constant currency terms. This was higher than its its earlier guidance of 9-10 per cent made earlier.