Indian IT sector to grow in mid single digit for FY25: ICRA Report

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Indian IT sector to grow in mid single digit for FY25: ICRA Report - Business Standard

Quick Summary:

UnearthInsight also added that long-term growth is expected to be 7-8 per cent compound annual growth rate (CAGR) till 2030.

Hiring by IT services companies had reached an all-time high in FY22 and H1 FY23, buoyed by strong demand for digital technologies and efforts to combat the surge in attrition levels.

With demand still in the slow lane, the hiring target of the industry will also remain low.“Hiring is likely to pick up materially only by the end of H1 FY26,” said the report.