IT companies’ revenue to increase due to tech demand

IT companies’ revenue to increase due to tech demand

The Information Technology (IT) sector is projected to post a revenue growth of up to nine per cent in the next two years, as the demand for digital technologies and resumption of normal activities drive IT sales.

Rating agency Icra gave a “stable” outlook for the sector, as it projects the IT industry to rise between five to eight per cent in dollar terms in 2021 to 2022.

“Demand for IT services has been mildly impacted due to COVID-19 pandemic on all end-user industries though some sectors like travel/hospitality, retail, oil/gas have been impacted more severely,” said Gaurav Jain, vice president of Icra.

Further, Jain added that the increased adoption of digital services has softened the adverse impact of the pandemic.

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