In the just-ended second quarter, most IT firms witnessed good growth coming from the European market, while the US showed signs of a substantial slowdown.
Despite Europe performing well for Indian IT companies, it may not be able to compensate for the growth slowdown coming from the US. Analysts are of the opinion that the Indian IT industry may continue to face a slowdown during the remaining half of the current financial year. “We expect a difficult end to the year and a difficult first two quarters of next year,” said Peter Bendor-Samuel, CEO of Everest Group.
