Indian IT sector expected to recover this year
The US$ 100 billion-worth Indian information technology (IT) industry is forecasted to have a strong recovery this 2021 fiscal year with predicted revenue growth of 10 to 11%, according to Crisil Ratings.
The IT sector’s recovery will largely depend on the growing outsourcing and digital transformation services in the banking, financial services and insurance (BFSI), healthcare, retail, and manufacturing industries.
Anuj Sethi, Senior Director at Crisil Ratings, noted that “The pandemic has opened up additional opportunities in digital services due to surge in remote working, e-commerce and automated services. Thus deal wins by Indian players have expanded by 20% on-year in fiscal 2021 with 80% of these being digital deals across verticals.”
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