Usa India 2020 pandemic information Coronavirus Usa India

Flat or negative growth for Indian IT sector this year, says former Infosys CFO

Reading now: 543
www.livemint.com

Bengaluru: India's information technology sector is expected to post either flat or negative growth in 2020 due to the impact of the coronavirus pandemic globally, an IT industry veteran said on Saturday. "Look at the economic activity (globally).

Worse than what you have seen in 2008 (global financial crisis). So, clients (of Indian IT companies) are not going to increase spending (on IT) or even maintain the current spending," the former Chief Financial Officer of IT major, Infosys Ltd, V.

Balakrishnan told PTI. There will be cut in spending, and could be pressure on pricing because all the major industries including retail and financial services have been adversely impacted, he said, also noting surging unemployment rate in the US. "Eco

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA