COVID-19: FM holds virtual meeting with IT body Nasscom

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 have 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.