ICRA forecasts Indian IT service industry growth at 3-5% in FY25

Uncertain macroeconomics in key markets like the US and Europe will continue to drag growth for the Indian IT services industry. The industry is poised to witness a modest revenue growth of 2 per cent in the first three quarters of FY24, and it will maintain a restrained trajectory in the range of 3-5 per cent in FY25, according to a report released by ICRA on Monday.

This is the second consecutive year when the credit rating agency has forecasted a growth rate in the range of 3-5 per cent for the Indian IT sector.