Coronavirus impact on economy to be like 2008 financial crisis: Former Infosys CFO Balakrishnan

Bengaluru: With business of most of its clients getting impacted by the coronavirus outbreak and likely lower discretionary spending as a result, growth for India’s IT services sector is going to be a big challenge in the coming fiscal, an industry veteran said on Wednesday.

There will be impact on Indian Information Technology industry for multiple reasons, former Chief Financial Officer of InfosysNSE -4.93 % Ltd V Balakrishnan said

With restriction on movement of people following the scare, Indian IT companies’ ability to deliver services on-site could get severely impacted but that could be addressed to s