Hyderabad: Pramod Bhasin, chief executive of business process outsourcer Genpact Ltd, has been appointed the chairman of industry lobby group National Association of Software and Services Companies (Nasscom), replacing Ganesh Natarajan, the chief executive of Zensar Technologies Ltd.
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Bhasin takes over at a time overseas business of India’s information technology (IT) and business process outsourcing (BPO) firms are under pressure in the wake of a recession in the US and Eurpoe, their main markets outside the country. “While we are experiencing the worst economic downturn of our life, I believe that there has never been a more relevant time for the IT-BPO industry to prove its worth,” Bhasin said in a statement on Thursday.
New guard: Genpact Ltd’s Pramod Bhasin. Hemant Mishra / Mint
Nasscom has twice lowered growth projections for the industry in a year and now expects exports of software services to touch $47 billion in revenues in the financial year to 31 March, growing only by 16.3%, compared with a 30% growth in the previous fiscal year.
“In these difficult times, we have the potential to help global corporations not only cut cost and preserve cash, but also become more efficient, innovative and profitable,” Bhasin said. “We view this is as a huge opportunity, which will help us maintain our leadership position and sustain our growth.”