Upbeat IT CEOs expecting tech spends to rise in 2024

The $250-billion technology outsourcing industry, India’s biggest export earner with the second largest weighting on stock indices, is ‘more optimistic’ of revenue expansion in 2024 as the first signs of a spending revival pierce the seemingly impenetrable fog of frozen demand from either side of the Atlantic seaboard.

K Krithivasan, CEO & MD of India’s largest software firm Tata Consultancy Services (TCS), told ET that it “definitely sees green shoots in the market” and that growth will come from a mix of deal renewals and vendor consolidation, with some transformation projects rounding off the order bouquet.