Software lobby group Nasscom has named BVR Mohan Reddy, founder and executive chairman of Cyient, as its new chairman for fiscal year 2015-16. Reddy, a member of Nasscom’s executive council, will take over the post from Cognizant Technology Solutions Corp.’s executive vice-chairman R Chandrasekaran.
The executive council also elected C.P. Gurnani, chief executive and managing director of Tech Mahindra Ltd as vice-chairman of Nasscom, the role held by Reddy.
According to the Nasscom, the agenda for the year is to “move forward in the direction” to reach the IT sector’s $300 billion revenue target by 2020.
In February, Nasscom forecast that software exports for financial year 2015-16 would grow between 12-14 percent to about $110-112 billion, lower than the 13-15 percent growth estimate it had for last fiscal. It has estimated the overall revenue for the IT sector to grow at 13 percent to $146 billion in the year to 31 March, 2015.
Nasscom said the domestic industry would grow 15-17 percent to reach $55-57 billion in 2015-16, led by e-commerce, government initiatives and technology adoption by industries.