Indian IT industry plans an 11% recovery for 2021-2022
The Indian IT industry is planning a strong recovery with predicted revenue growth of up to 11% in the fiscal year 2021-2022, according to a report released by analytical company Crisil.
The India-based rating agency said that the recovery will be driven mainly by outsourcing and digital transformation services in banking, financial services and insurance (BFSI), healthcare, retail, and manufacturing sectors.
The report added that “higher business levels and more profitable digital deals” will assist IT companies in expanding their operations.
Anuj Sethi, Crisil’s senior director, said, “With customers focusing on optimizing costs, outsourcing of IT services is seeing a steady rise globally.
The pandemic has opened up additional opportunities in digital services due to [the] surge in remote working, e-commerce, and automated services.”
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