Rise in discretionary spend to lift IT sector growth by 8-11% this fiscal

Indian IT-ITeS industry is expected to grow 8-11% this fiscal, driven by an increase in discretionary spends in the IT space, growth across emerging, healthy client additions and value of new deals, according to a report by CARE Ratings

8% – growth was seen in the IT industry in FY18

$126 billion – was contributed to export revenues in FY18

$41 billion – was earned from domestic revenues

$32.23 billion – FDI inflows in the sector from April 2000 to June 2018

$6.15 billion – inflow in FY18, highest in the past five years

1.9 lakh – of the total workforce was added in the industry during FY14-18

50% – of Indian IT sector revenues come from North America

FY18 saw a soft growth in the US due to slowdown in IT spends by companies in financial services space