India gives consolation to IT firms hit by weak tech spends in America

As Indian IT services firms are increasingly coming under stress in the American market, there was some consolation from an unexpected quarter – a secular spurt in businesses from India and Rest of the World (RoW) region. From TCS to LTTS, including mid-tier IT firms like Happiest Minds, saw their revenue bump up in India.

For TCS, India geography reported a robust growth of 23.4% year on year (y-o-y) in cc terms. The growth driver was the BSNL deal that was recently bagged by the IT bellwether. This is in sharp contrast to North America, that grew negatively at -3% for TCS.