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India's technology outsourcing industry is optimistic about revenue expansion in 2024. Tata Consultancy Services and Tech Mahindra CEOs expect growth from deal renewals, vendor consolidation, and transformation projects. The IT industry is projected to reach $253.9 billion in fiscal 2024.
IT Sector: As per a Nasscom survey, sentiments are expected to improve in the second half of FY25, with over two-thirds of the tech CEOs expecting better revenue growth in the next fiscal year.
The US consumer price index remained unchanged month on month and rose 3.2% on year in October, both lower than what economists had forecast, sparking a stock market rally after the numbers were published on Tuesday on hopes that the Federal Reserve may stop raising interest rates.
Contract awards in the as-a-service market declined 13 percent in March 2023 quarter but IT services are expected to fare relatively better