Data Drive: The IT factor
As enterprises increase their spending on technology to stay relevant for their customers, Indian IT services revenue growth has moved in line with the growth in S&P 500 revenue.
In fact, the Indian IT services industry is in the early phase of a multi-year growth because digital laggards are now racing to leapfrog to stay ahead of the competition.
While the demand environment will remain strong, there could be pressure on margins in H1FY23, according to a report by ICICI Securities.