Indian IT firms to achieve up to 9-12% revenue growth in FY2022
India’s leading IT companies are predicted to have a nine to 12% increase in their revenues by the 2022 fiscal year due to the digital technology demand, said credit rating agency ICRA.
The revenue boost will be supported by the restrained demand in the last fiscal year because of the initial impact of the COVID-19 pandemic.
The ICRA is expecting an 18.1% revenue growth in INR terms and 16.2% in US$ terms in the first quarter of 2022. For FY2023, the anticipated increase will be around 6-9%.
Gaurav Jain, ICRA Vice President and Sector Head, said that “The pandemic is accelerating the secular trends of core modernization, usage of collaborative technologies, and cloud migration as companies shift to digital business models to pursue work-from-home model, which will benefit the IT services companies.”
Related news
- BPO sector shows no signs of slowing down · 19 Jun 2019
- Bulacan soon to have 12-hectare cyberpark, business district · 17 Jun 2019
- Philippine office market expected to sustain growth this year · 13 Jun 2019
Disclosure: Outsource Accelerator uses AI tools in the backend of its editorial workflow. Every article is reviewed and verified by a human editor before publication.
Stay ahead of the outsourcing industry. Join thousands of business leaders who rely on Outsource Accelerator for the news, trends, and expert insights that matter. Subscribe to our free newsletter and never miss an update.
