“The industry is looking at a rate of 12-16 per cent. So, it entirely depends on how it gets. But, the bigger concern is how the GST is applied,” said R Chandrashekhar, president of Nasscom.

These companies are seeing clients shift to faster adoption of automation, cloud and digital technologies, while cutting on traditional information technology (IT) services. Both Infosys and Cognizant have cut their annual revenue forecast, for these reasons. Nasscom says this is a good indication of where the sector is headed.

Over the next five to seven years, global BPM spending is expected to grow six to seven per cent annually and reach $233 bn by 2020, it said.

According to the Nasscom annual rankings of top IT-BPM (business process management) employers in the country for 2016, TCS heads the Indian IT industry, with 362,079 employees.

The threat perceptions of two recent global political developments – prospect of Donald Trump getting elected as the next US President and fallout out of Brexit – have got largely moderated, said Gurnani, who is also the chief executive officer of Tech Mahindra.

If this isn't done, it said, the government's entire Digital India programme would halt.

Nasscom said likely decline in the value of the British Pound, which could render many existing contracts losing propositions, unless they are renegotiated whereas the uncertainty surrounding protracted negotiations on the terms of exit or future engagement with EU could impact decision making for large projects.

Scheduled to take place in the last week of May, the delegation will include members from Tech Mahindra, MindTree, ITC Infotech and Cyient among others.

As part of the partnership, the two partners organised roadshows across Delhi, Mumbai, Pune and Bengaluru this month, focusing on showcasing the potential of gaming for various sectors.