IT recovery graph mirrors that from an earlier crisis. Can it sustain?

For India’s IT services industry, the initial impact of covid and the recovery since has been almost identical to the impact during the global financial crisis (GFC). On both occasions, quarterly revenues dipped 6-7% immediately after the disruption and then rose 15-16% from the lows within a year of impact.

But the recovery after the global financial crisis sustained for a long period. In the following two years, quarterly revenues of Tata Consultancy Services Ltd, Infosys Ltd and Wipro Ltd had grown another 45%.

A moot question is whether such high growth rates can be expected this time around as well. While there is little doubt that growth will be high this fiscal,