India IT services market grows by 7.3% in first half of 2021

The Indian IT services market grew by 7.3 per cent in the first half of 2021, compared to the 5.7 per cent growth in the same period last year, as enterprises continued to invest in digital transformation initiatives, a new report showed.
Overall, the Indian IT and business services market was valued at $6.96 billion and recorded a 6.4 per cent year-over-year (YoY) growth in the January-June period, compared to 5.1 per cent in the first half of 2020, according to the International Data Corporation’s (IDC) worldwide semi-annual services tracker.
“Verticals like government and manufacturing, which delayed IT investments in 2020, hiked up their IT spend in H1 2021, and enterprises in the country continued to increasingly depend on IT service providers for solutions in areas like cloud, security, artificial intelligence, analytics, etc.,” said Harish Krishnakumar, senior market analyst, IT Services, IDC India.