India’s IT industry appears to be staging a recovery from a deep slowdown, driven by an increase in discretionary spending, particularly in the financial services vertical and the North America market.

The optimism expressed by leading Indian IT firms is mirrored by analysts, who see an uptick in hiring and upward guidance revisions as indicators of a brighter outlook ahead.

“We are witnessing a rebound following the post-COVID slump. Early signs emerged earlier this year, and now there’s significant conviction that this recovery is real,” Peter Bendor-Samuel, CEO of consulting and research firm Everest Group, said, referring to the BFSI sector. “BFSI typically leads other industry segments, so this is an encouraging sign for the rest of the IT industry.”

Read more at: The Economic Times

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