Growth in the information technology sector may rebound from next fiscal year, experts said, though the third-quarter performance of India’s top four IT majors did not inspire much confidence.
IT industry research firm Everest Group’s CEO, Peter Bendor-Samuel, expects a revival in demand by the second quarter (April-June) of 2024 based on the current guidance from the companies. “We see the next two quarters as difficult with a continued hesitancy to commit to discretionary spending or large new initiatives. It is likely that by the end of the second quarter (first quarter for most Indian tech services firms) that we will see the start of a modest recovery,” said Bendor-Samuel.
