Net office space leasing declined by 10 percent in eight major cities during January-March at 5 million sq ft mainly on lower supply and subdued demand from IT industry.
Issues like tighter controls on visas may have some bearing on IT sector but will certainly not be a "showstopper" for its overall growth, Nasscom President said.
The city is set to host two mega technology events Nasscom India Leadership Forum (ILF) and the 22nd edition of the WCIT concurrently from tomorrow.
A top TCS executive says the job loss fears in the IT industry are highly exaggerated and it is the organisation's responsibility to reskill and upskill its workers.
T V Mohandas Pai said e-commerce market places should have a no-fake policy to address sale of counterfeit and spurious products on their platforms.
Nasscom President R. Chandrashekhar said despite rising visa barriers, global firms prefer to hire Indian techies in the US due to shortage of skills in North America.
R Chandrasekhar said IT industry does not sell dreams but makes them come true and emphasised that though automation destroys certain jobs, it creates others.
Finance Minister Arun Jaitley has said that the US must decide appropriately while taking a decision on its visa policy.
India will lead the fourth industrial revolution with the telecom and IT industry coming together to lay the foundation of empowering 1.3 bn Indians, Mukesh Ambani said.
Global IT research firm Gartner further lowered its 2017 IT spending growth estimate to 2.4 per cent from the 2.7 per cent earlier on worries on digitisation.