Why Accenture’s revenue forecast may be ‘good’ news for entire IT industry

Bengaluru : Indian IT firms may see revenue growth in fiscal 2020 to be as strong as or better than the previous year, looking at the commentary of global peer Accenture which raised its forecast on the back of increasing client budgets for outsourcing and consulting deals.
Last week, Accenture raised its revenue growth forecast to a range of 6.5-8.5% from 6.0-8.0% for the year ahead, as their customers globally continue to spend on new technologies to improve services.
“The Accenture management indicated potential of slower economic growth. Client budgets may grow at slightly slower pace compared to 2018. However, this slower growth has not translated in weak growth outlook. Accenture revenue growth for FY 2019 will be similar to FY 2018,” wrote Kawaljeet Saluja, IT analyst at Kotak Institutional Equities.
Two large Indian IT services companies — TCS and Infosys — will begin the results season with Q4 numbers and commentary for this year on April 12.

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