ICRA: Demand environment for Indian IT Services Industry to remain stable
New Delhi, March 18 -- The Indian IT Services sector is expected register growth of 7-9% in US$ during FY2020. As per available trends, ICRA sample set (13 companies) grew by 19.4% in INR terms while in US$ terms it grew by 8.3% during Q3 FY2019. In the same period (quarter) the INR depreciated by approximately 11.4%/8.9%/8.0% versus US$/GBP/EURO respectively (US and Europe collectively contribute 85% of sample set revenues) respectively leading to higher INR growth. During 9mFY2019, these companies have grown by 16.4% in INR terms and 8.8% in US$ terms.
Further, companies have reported higher deal wins during the quarter while net employee addition has increased during the 9mFY2019 period across majority of our sample companies, being s...
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