Q4 FY24 to bring sunnier days for IT sector; but no hiring boom on the horizon

The Indian IT sector, which is in the midst of a deep slowdown, owing to global macroeconomic headwinds such as inflation and recessionary trends, is expected to see brighter days in the fourth quarter of FY24, sectoral experts who spoke to DH said. They however ruled out a hiring boom matching the one seen in FY22, when the industry added 10 lakh new jobs to the economy.

“FY22 surge was an aberration, a once in a while event,” said Vijay Sivaram, who is the chief executive for IT Staffing at business services provider Quess Corp.