Finance Minister Nirmala Sitharaman on Thursday held a virtual meeting with senior officers of IT industry body NASSCOM. In a tweet, NASSCOM President Debjani Ghosh said, “Thank you Respected FM @nsitharaman ji for a very productive discussion with @Nasscom leaders. The tech industry is determined to ensure we emerge stronger from the crisis and we thank you for your willingness to engage and support. #ThinkDigitalThinkIndia”.
The coronavirus outbreak has hit the information technology industry, which has an overseas clientele apart from domestic operations. Global uncertainty, slowdown and recessionary fears, will have its implications on investments. “Smt @nsitharaman holds a meeting with the senior officers of NASSCOM through video conference,” the Office of Nirmala Sitharaman said.
The economic disruption caused by COVID-19 pandemic has led to global rating agencies predicting India”s growth to contract in current fiscal. While S&P and Fitch expects GDP to shrink by 5 per cent, Moody’s said it would be (-)4 per cent.