Friday, 24 March, 2023

IT companies' revenue growth would decline significantly in FY23: Report

<p>As per ratings agency Crisil, the revenue growth rate for the information technology services sector will drop sharply from 19% in FY22 to 12-13% in FY23. The nearly $220B sector would be able to maintain double-digit growth. Credit goes to the current depreciation of the rupee and strong demand for modern technologies like artificial intelligence, cloud computing, and the Internet of Things.&nbsp;The moderation from 19% to 12-13% will be the highest in the last 8 years.</p>