Tech spends in India to hit a 10-year low in 2020: Forrester

In 2020, India will have the slowest tech spending growth in at least a decade on account of sharp economic disruption due to the Covid-19 pandemic, according to a new report by market research firm Forrester.

“In the best case, tech market growth will slow to 1.2 per cent in 2020 and jump back to 8.4 per cent in 2021. This scenario becomes less likely if India’s major economic hubs remain under strict lockdown beyond June 2020. The other scenario is worse: Tech spending might contract by up to 4.8 per cent in 2020 with only a mild recovery, to 1.4 per cent growth, in 2021,” the report said.