Indian IT services sector faces 5-7% revenue growth in FY25, following 6% growth in FY24, due to modest tech spends in US and Europe.
The Indian IT services sector is facing a second consecutive year of muted revenue growth, with Crisil Ratings predicting a 5-7% increase in FY25, following a 6% growth in FY24. The slowdown is attributed to modest increases in tech spends in the US and Europe, causing industry size to stagnate at $250 billion. Operating profit margins are expected to remain stable at 22-23% due to careful management of employee costs.
April 24, 2024
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