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IT Services Industry Faces Sluggish Growth due to Lower Tech Spending

IT Services Industry Faces Sluggish Growth due to Lower Tech Spending
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IT sector to see muted revenue growth of 5-7% in FY25: Crisil

IT sector to see muted revenue growth of 5-7% in FY25: Crisil
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IT service companies: IT service companies stare at second year of muted revenue growth at 5-7%: Crisil

The subdued outlook is attributed to continuing global macroeconomic headwinds lead to modest increase in technology spends in the key markets of the US and Europe.

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Indian IT sector staring at second straight year of muted revenue growth: Crisil

Indian IT sector staring at second straight year of muted revenue growth: Crisil
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Indian IT sector staring at 2nd straight year of muted revenue growth: Crisil

The Indian IT services sector is staring at a second consecutive year of muted revenue growth due to modest increase in tech spends in Europe and the US, a domestic rating agency said on Wednesday. Crisil Ratings said it expects the sector to grow at 5-7 per cent in FY25, after a growth of 6 per cent estimated to have been achieved in FY24. The overall industry size is pegged at $250 billion and it creates over 50 lakh direct jobs.

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