Accenture’s BFSI commentary holds out some hope for Indian IT

Accenture said it has seen an improvement in banking and financial services, a good sign for Indian IT services companies that were concerned about growth from their largest business segment, but analysts still expect volatility in their results.

Fears of a looming recession had lead banking and financial services companies, who contribute about a third of Indian IT’s revenue, to hold back on some spending. On Thursday, Accenture reported that its banking and capital markets segment had improved globally.