Subdued discretionary spending to hit India's IT services growth: Report

Q: How long will it take to read this news story?

The story "Subdued discretionary spending to hit India&#039;s IT services growth: Report" has 713 words across 26 sentences, which will take approximately 3 - 6 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Subdued discretionary spending to hit India&#039;s IT services growth: Report" was covered 10 hours ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 343 news stories per day. It's most recent story was published 3 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #22064252</li><li>URL: https://beamstart.com/news/subdued-discretionary-spending-to-hit-172354844351</li></ul>

Business Standard Logo Business Standard 10h ago

Subdued discretionary spending to hit India's IT services growth: Report - Business Standard

Quick Summary:

The report said that weaker client demand and increased competition could limit price increases in the sector.“Industry margins peaked during the early years of the Covid-19 pandemic as a result of declining employee attrition and lower travel and facility costs,” said the report while adding that the margins are likely to get stabilised now.

In terms of geography, IT services companies derive over 80% of their revenue from the US and Europe, with US-based customers contributing most of the revenue,” said the report.

The report underlines that despite domestic and international competition, Indian IT services are unlikely to lose clients as customers typically do not change their IT services vendors based solely on cost considerations.