India's information technology spending is expected to reach $88.8 billion in 2021, an increase of 6.8 per cent from last year, according research firm Gartner.
In 2020, India IT spending fell 2.7 per cent as chief information officers prioritized spending on technology and services that were deemed “mission-critical” during the initial stages of the pandemic.
Gartner further forecast worldwide IT spending would be $3.9 trillion in 2021, an increase of 6.2 per cent from 2020, largely due to the increased speed of digital transformation last year to satisfy remote working, education and new social norms.
“In 2021, CIOs have to fast track their digital projects to get the necessary attention and funding from the board,” said Naveen Mishra, senior research director at Gartner. “Digital initiatives directly related with improving customer engagement and supported with a shorter ROI (return on investment) window will be prioritised in the current economic environment. Improving demand scenario across select verticals in India will spur the overall IT spending in 2021.”