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Indian IT spending will fall this year due to impact of COVID-19
May 08, 2020
Indian IT spending this year is going to fall due to the impact of the coronavirus. IT advisory IDC estimates the domestic IT investment will decline drastically during this financial year.
Shweta Baidya, senior research manager, IDC India told ET, “The reason for the fall is the decline in device shipments and organizations limiting investments for critical demand”.
In the last year, investment in the IT sector saw a growth of 9%. According to the current situation, the government and other organizations are investing in IT companies to help the market remain stable.
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