In the News
IT Firms Seen Bracing Themselves for Spending Cuts by Clients | In the News
Indian IT firms are expected to submit lackluster report cards for the fourth quarter and warn about demand in the year ahead as their clients curtail spending amid global economic uncertainties, inflationary pressures, and a banking crisis.
“There is definitely a slowdown from the torrid post-pandemic levels. Discretionary spending has come down and the market is in a pause waiting to see what will happen regarding the recession,” said Peter Bendor-Samuel, CEO at Everest Group.