New Delhi, Sept. 22 -- Growth in India's IT services exports could slow to below 4 per cent due to fresh risks from the sharp hike in H-1B visa fees, according to a report by Emkay.

The report noted that it had earlier estimated 5 per cent growth in FY26 and a 7 per cent CAGR over the next five years.

It stated, "Indian IT/software gross/net exports stood USD 181bn/160bn in FY25 and we had assumed 5 per cent growth in net IT services exports for FY26E, with a 7 per cent CAGR growth for next 5 yrs. This could reduce to sub-4 per cent depending on sustained H1B visa-led risks and GCC evolution".

India's IT and software exports stood at USD 181 billion gross and USD 160 billion net in FY25. Global capability centres (GCCs) already contrib...