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Growth in Indian IT services to decline
Posted on: 23/Feb/2016 6:21:07 PM
According to India ratings released on Tuesday, the revenue growth of Indian IT services will dip by 8 to 9 percent during the fiscal year 2017. This will be lower than 10 to 12 percent guidance stated by Nasscom.
In its note, it was said that the revenue growth will reduce by 8 to 9 percent in FY17. This is lesser than the estimate of 10 to 12 percent given by Nasscom. The percentage is also lower than the growth rate of 12.3 percent the industry is likely to achieve in FY16. It was further added that the expectation of increasing cost reduction because of automation of significant part of traditional services will give rise to lower budgets of run the business projects.
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