“There is no reason for us to be worried... We have spoken to customers and they are looking at expanding into geographies and bringing newer solutions to the market,” NASSCOM President Som Mittal told reporters on the sidelines of the NASSCOM BPO Strategy Summit 2011, which kick-started here today.

In February, NASSCOM forecasted that the Indian IT industry's export revenue would be in the range of $68 billion to $70 billion in the current financial year. Despite the economic turbulence in the US and European markets, there was no need to revise the outlook, he added.

However, Mittal agreed that the industry is maintaining a cautious outlook in the backdrop of the financial crisis in the US, especially following the S&P downgrading the US credit rating.

Following this downgrading, NASSCOM had said that it is not likely to impact the Indian IT industry in the near-term future.